Practice Management Tips

Physician Income and Asset Protection

Make sure your medical history doesn't work against your ability to protect your income and assets


A physician's 20-30 year career enables them to earn a significant return on their investment of time, energy, and responsibility in their profession in the form of an annual six-figure income. The return on their investment can be disrupted by three major causes: accidents and/or illnesses, premature death or malpractice lawsuits. In light of this, physicians should make arrangements to protect their income and assets before it is too late due to their medical history.
 
While much of the attention in the medical field is on managing and improving a patient's medical history, what about the doctors who are caring for them? Does it really matter what is in a physician's medical history and what does this have to do with a physician's income? 
 
These may seem to be unusual questions to be asking, but they are relevant. Here's why...
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Previous Tips

Physician Compensation and Joining a New Practice
Physician Specialty-Specific Disability Insurance
Physician Contracts: Termination Provisions
Physician Tax Planning and Investment Vehicles
Physician CVs and Cover Letters
Physician Contract Negotiation: Value of Multiple Offers
Physician Interviews: Interview Preparation
Physician Contract Negotiation: Letters of Intent
Physician Disability Insurance: Employer vs Individual Plan
Physician Employment and Partnerships: Evaluating Options