As a physician, you have a lot on your plate, and dealing with finances can wear you out even more. Last time, we talked about the multiple serious effects of burnout. Now, let’s talk about ways to reduce physician burnout. Of the 12,000 doctors who responded to a recent Medscape survey, 45% said avoiding financial stress would help them alleviate burnout.
Here are five tips to help you ease the money pressure before it leads to burnout:
- Improve your income
- Maximize your retirement plan
- Enhance business efficiency
- Learn to manage taxes
- Expand your team
To improve your income, reduce tax liability and manage risk, you need strategies tailored to your business. I offer my HealthCheck value acceleration process for physician entrepreneurs to examine what I call the four Cs:
- Human capital
- Client capital
- Financial capital
- Operations capital
This unbiased, expert assessment ensures your biggest asset is protected while delivering actionable recommendations to increase business value.
We all know the life of a physician is busy – you spent years studying medicine, followed by rigorous training programs and challenging exams. While you may not have had time to manage your business finances before, a sound plan is critical to safeguarding the income everyone at your practice works so hard to earn. Don’t wait any longer – call me today at 212-470-4283 to explore our specialized financial services for physician entrepreneurs or visit wmdoctors.com to learn more.