Health Expenditures
Determine the value in sponsorships
You and your practice receive numerous financial requests to support organizations in the form of sponsorships every single year. These sponsorships can range from hospital-related galas to large sporting events and charitable fundraisers. Sponsorships come in all shapes and sizes and involve a broad range of participants and benefactors. With so many options and so many different audiences, how do you know which sponsorships offer you and your practice real value and which ones are simply spending money?
A budget can keep millennial physicians' spending in check
New physicians are often disappointed with their bank account when they start their first jobs, even after several months of being in practice. Considering that they patiently accepted a lower income during residency and fellowship, it is not surprising that new millennial doctors want to reach financial independence quickly, within a few years of starting in a practice.
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A budget can keep millennial surgeons’ spending in check
After new orthopedic surgeons start their first jobs, they are often disappointed with their bank account balance, even after several months of being in practice. After patiently accepting a lower income during residency and fellowship, it is not surprising that new millennial surgeons want to reach financial independence within a few years of starting in an orthopedic surgery practice. Unfortunately, true financial independence often takes longer than expected due to the impact of taxes on a higher salary, debt burdens and the increased cost of living typically seen in conjunction with the change to being an attending surgeon.