How important are investments for your personal finance?One of the major components of healthy personal finance remains proper investment. You see, investing happens to be all about getting the maximum possible out of your money and that too while you maintain a manageable amount of risk. Ideally it should be your investment strategy that’s to be properly designed and most importantly it needs to be designed such that it reflects the goals that you have already set in advance. Now, what remains the most important bit is the fact that you should keep evaluating and changing your investment strategy year after year.
“If delivery systems can be transformed around the principle of value, the promise of health and productivity for those now facing both poverty and disease will not be squandered.” This is the core take-away message of a new paper out today in The Lancet by Dr. Jim Kim, Dr. Paul Farmer, and Prof. Michael Porter.
At least 10% of parents of young children skip or delay routine vaccinations, often out of concern that kids are getting “too many shots, too soon.”
A new study finds that children who receive the full schedule of vaccinations have no increased risk of autism.
“This is a very important and reassuring study,” says Geraldine Dawson, chief science officer at Autism Speaks, who wasn’t involved in the new paper. “This study shows definitively that there is no connection between the number of vaccines that children receive in childhood, or the number of vaccines that children receive in one day, and autism.”
According to live tweets and images sent from ophthalmologist Dr. Kris Held, nearly all doctors had walked out in protest and disgust of Obamacare implementation talks at a prominent national health care meeting. Typically, The American Society of Cataract and Refractive Surgery Government Relations session is a well attended, formal business conference where brilliant minds in medicine convene. This year was a different story. With talks of Obamacare implementation and compliance underway, doctors left and right had left the auditorium.
Medical residents are universally lauded for their mastery of “delayed gratification,” and no one can fault them for wanting to play catch-up once the money starts rolling in. But, the transition from medical student to MD is laden with some unique financial challenges that, without the tools to confront them, could postpone life’s ultimate gratification (retirement) well into the future. Beginning a career ten or twelve years late with six figures of debt can place an enormous burden on new physicians who aren’t prepared to manage their finances with their future in mind.
Caught between the temptations to step up their lifestyles and to quickly pay down their debt, new physicians can find themselves running out of money without any consideration for savings. But then, they’re only at the beginning of their income potential and there will always be time for savings, right? Wrong. The most powerful resource we all have for building wealth is time. You really don’t have control over how much money you will make, but you do have control over how much time you have to save what you do make. The more time you have, the more opportunity you have to build wealth.
To the consternation of young physicians, the general public perception is that all medical practitioners are wealthy, which may be the reason why we hear so much grumbling over the cost of health care costs. What is largely lost on the public is that the vast majority of physicians begin their careers deep in a hole both in terms of money and time. It is difficult for the average person to fully gauge, let alone appreciate the monetary and time commitment that goes into preparing for the profession. Even before they confront the lifelong challenge of building personal wealth from a medical practice, new physicians are lined up well behind the starting line for a number of reasons..
If you’re finishing up residency or fellowship, you’ve spent the last 4, 5, 6, 7, maybe even 8 years being paid about 18 cents per hour. Now you’re out there looking for your first “real” job. So when someone comes along and offers you a 6-figure salary, it’s tempting to accept it, no matter how unfair the offer actually is. Unfortunately, some employers are anxious to take advantage of young physicians who are desperate to take any job that will help them begin to pay off their enormous student loans. So many times young physicians wind up accepting compensation under their physician employment agreement that is not up to par with market standards. After all, it’s hard to know what the market standard is when you don’t have access to national physician compensation benchmark data. Before you accept a physician employment contract offer, be sure someone is looking out for your financial and legal interests.
Many physicians, especially those fresh out of training, are hasty about accepting the first job offer that comes their way because they have enormous student loans to pay off, and they haven’t yet endured a horrific employment experience that has taught them to tread carefully into any given employment arrangement. After all, when you’re out there looking for your first job, the potential employers are great salespeople- reassuring you that your wants and needs will be met.
In things that you thought only happened at Seattle’s Grace Hospital, medical professional magicians at a London hospital recently drastically dropped a baby’s core temperature for four days to save his life. Dude. Science. Right?
While we’re worrying ourselves over the flu, Jennifer Gardy and animator Tom Scott remind us of the other germs, from anthrax to zoonoses, lurking about in their poetic ode to epidemiology. A warning to those with especially sensitive stomachs: this does contain animated poo.
I was driving home from a night shift and the scorching sound of Texas guitars flamed out of my car speakers. The group ZZ Top was old, but the song was new. It went like this, “25 lighters on my dresser, yessir. You know I gotsta get paid.”
Mostly, I was shocked that any members of the band ZZ Top were still alive, let alone putting out new music that was actually getting airplay. Also strange, is that the song is a remake of an old rap song. The lyric reminded me of a patient who I won’t name. It would be a safe assumption that he was a gang member. He wore saggy, baggy pants, and was heavily tattooed and shirtless. He either spent 8 hours a day in the gym lifting weights, or ate a healthy diet of steroids. If he had killed half as many people as his tattoos indicated, it was certainly in my best interest to keep him happy. This was one patient satisfaction score I would ace. I’ll call him Lighterman.
“Yo doc! You gotta fix my hand, man,” Lighterman said in his gang accent. He held up his bleeding hand.
“What happened?” I asked.
“I used my knife to open a bottle of some Robitussin to put in my beer and I slipped,” he said. “My brother is home right now getting wasted on my stash.”