Magazine article Medical Economics

Getting Smart about Your Money

Magazine article Medical Economics

Getting Smart about Your Money

Article excerpt

A recent survey published in Medical Economics provides hard evidence for what many of you have long felt, namely, that these are difficult times for many primary care physicians. In our 2011 exclusive earnings survey (www.MedicalEconomics.com/2011earnings), nearly 40% of you reported being worse off financially in 2010 than in 2009, 43% said things were about the same, and 14% relayed improvement.

Clearly, this is not the profile of an occupation in robust health. Still to come, of course, are the full effects of the Patient Protection and Affordable Care Act (assuming it survives court challenges), the fate of the sustainable growth rate formula for Medicare reimbursements, and the impact of the movement toward accountable care organizations and the Patient- Centered Medical Home.

Stagnant incomes and an uncertain future make it more important than ever to be smart about your finances. The articles devoted to finances in this issue are designed to help you get the most out of your hard- earned dollars, for yourself and your practice.

Jeffrey R. Secord, CFP, and Jeffrey J. Huizenga, CFP, ChFC, look at options for maximizing your investment returns in this era of low interest rates, and Medical Economics editorial consultant Barry Oliver, CPA, PFS, explains the difference between active and passive investing and how to know which approach is right for you.

Jason Dyken, MD, MBA, CWS, explains how your financial adviser can act as a "quarterback" to direct the services of your other professional advisers. Steven Podnos, MD, MBA, CFP, one of our regular contributors, and Harry A. …

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