Now Every Doctor Can Win As a Micro-Corporation-Podcast
Dec 07, 2024
The following is a summary transcript from my guest podcast on Dr John Jurica’s show Non-Clinical Physicians
Check out his Non-Clinical Physicians’ resources and content, I think you will really enjoy it!
To listen to the podcast just click on the enclosed link.
The Rise of Corporate Medicine and Its Impact on Physicians
Corporate control of healthcare has led to decreased autonomy and increased burnout among physicians. Tod describes how arbitrary compensation caps and a lack of understanding from administrators have contributed to this problem.
He emphasizes the need for doctors to stand up for themselves and take control of their professional lives. And he describes the simple change he made to accomplish that goal.
Understanding the Employment Lite Model
Tod explains the concept that allows physicians to work as independent contractors while maintaining a relationship with their current employer. This model offers increased professional autonomy, significant tax benefits, and an easier way to create multiple income streams. Some of the topics we cover in Part 1 of our conversation are:
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Preparing to become an independent contractor,
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Negotiating a professional services agreement,
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Creating the opportunity for multiple income sources, and,
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How to approach your employer about transitioning to this model.
Empowering Physicians to Win as a Micro-Corporation
Recognizing the lack of business education in medical training, Dr. Stillson created SimpliMD, a resource for doctors to improve their business acumen. He emphasizes the importance of understanding:
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The true value doctors bring to healthcare systems, including downstream revenue,
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How to negotiate fair compensation based on productivity, and,
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The power of business knowledge in preserving professional and personal autonomy.
Summary
In Part 1 of this two-part episode, Dr. Tod Stillson offers valuable insights for physicians looking to regain control of their careers and achieve a better work-life balance. Dr. Stillson's experience and resources provide a roadmap for doctors to navigate the complex world of healthcare employment and find success on their own terms.
Part 2 of this conversation follows in the next episode of the Physician Nonclinical Careers Podcast.
Links for today's episode:
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How to Save Healthcare, Satisfy Patients, and Fix Physician Burnout – 256
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Check out the 2024 Nonclinical Career Summit to learn about MORE unconventional career options.
Paid Resources from SimpliMD:
