Protecting Patient Information in Medical Presentations
The following is an abbreviated overview of the information disseminated by the Radiological Society of North America (RSNA), the American College of Radiology (ACR) and the Society for Imaging Informatics in Medicine (SIIM) in August 2020 about protecting patient information in medical presentations. Search engines can extract patient identifiers in PowerPoint™ slide presentations that were…
Risky Business: Your No-BS Guide to Malpractice and Life Insurance
Don’t bother to read this post if you are omnipotent and infallible (but then, of course, you’ll already know that). For the mere mortal, however, we can all benefit from a better understanding of strategic risk management—and by taking steps that can help stack the odds in our favor for our best future. While we have only one past, we face all kinds of possible futures—and nobody knows which…
Asset Class II: Hot Tips on Developing a Sound Portfolio
I like diverse assets and I cannot lie. My last post (part 1 of this 2 part series on asset allocation) focused on investment philosophy and four things to consider before developing an investment portfolio. In case you missed it, here’s a quick refresher: asset allocation refers to the process of dividing investments among different kinds of asset classes to minimize risk and maximize return. In…
STOP and Ask Yourself These 4 Questions…Before You Invest
The savvy investor will invest sufficient time and consideration before making any major financial decisions—and part of this consideration should entail a dose of soul-searching and self-reflection with unflinching-bare-all-honesty. If you haven’t read my previous post on investment options you might want to start there. It’ll be helpful if you’re not already familiar with stocks, bonds, cash…
Interpreting Your Financial Brain: Behavioral Finance for Radiologists
This is a scan of your financial brain. As you interpret the images, you may not initially spot any abnormal findings, but a closer read will reveal the influence of subconscious biases. In this post, I’ll be diagnosing patterns of thought and behavior that too commonly lead to unsound financial decisions and investing mistakes. Don’t let your psyche sabotage your efforts and hard-earned…
Financial Advisors: the Good, the Bad, and the Ugly
(😇👺😱) Okay, let’s face it: the idea of managing your own finances can seem like a daunting, time-consuming endeavor; one that requires a specialized skill set, secret knowledge and/or a crystal ball. That’s why many physicians seek out the help of a financial advisor. You may have questions: Do you really need one? What exactly do they do anyway? How can you be sure you’re getting good…
Get to Know Your Investment Types: We’re Going Shopping for Options!
And no, I’m not referring to stock options, those financial instruments that let you buy or sell shares of a stock at a specified price for a specified period of time. I have no experience as an options trader. Nor am I referring to employee stock options that offer the employee the right to purchase a set number of shares at a specified price for a fixed period of time, like…
Retirement Plans: What Every Radiologist Should Consider STAT
If you are a young radiologist, retirement may be the farthest thing from your mind—and possibly decades away. You might think understanding the many different types of retirement plans and investing accounts (and all their intricacies) is something you can deal with down the road. You have plenty of time, after all—right? Hate to break it to you, but wrong! If this is news to you or you…
Getting Personal: Investing Accounts & Why You Need to Think “Grocery Baskets”
Let’s talk personal finance. Up to this point, my posts have focused on radiology jobs and business finance. With this post, I start to delve into personal finance Why is this an important topic for radiologists? Personal financial education is a recognized contributor to workplace satisfaction and overall wellness, which in turn may decrease radiologist burnout. However, most…
The DEBTonator: How to Avoid Common ‘Doc Debt Traps’
As a doctor, or soon-to-be-doctor, you understand the importance of taking care of your body to stay in good health. You may do all the right things—exercise, veggies, wash your hands, floss. (Note: when I look back on this post in August 2020, during a pandemic, that also includes wearing a mask and social distancing!) But are you taking the necessary steps to protect your financial health?…