Support our online development, and advance our onground research initiatives in free market economics, as we seek to showcase the brightest Next-Gen minds.
THE ME-P DISCLAIMER: Posts, comments and opinions do not necessarily represent iMBA, Inc., but become our property after submission. Copyright © 2006 to-date. iMBA, Inc allows colleges, universities, medical and financial professionals and related clinics, hospitals and non-profit healthcare organizations to distribute our proprietary essays, photos, videos, audios and other documents; etc. However, please review copyright and usage information for each individual asset before submission to us, and/or placement on your publication or web site. Attestation references, citations and/or back-links are required. All other assets are property of the individual copyright holder.
A Free Market Medical Association Slide Show Presentation
By James Lansberry
[Free Market Medical Association]
Download the presentation Here
Conclusion
Your thoughts and comments on this ME-P are appreciated. Feel free to review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, subscribe to the ME-P. It is fast, free and secure.
Speaker: If you need a moderator or speaker for an upcoming event, Dr. David E. Marcinko; MBA – Publisher-in-Chief of the Medical Executive-Post – is available for seminar or speaking engagements. Contact: MarcinkoAdvisors@msn.com
OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:
- PRACTICES: www.BusinessofMedicalPractice.com
- HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
- CLINICS: http://www.crcpress.com/product/isbn/9781439879900
- ADVISORS: www.CertifiedMedicalPlanner.org
- FINANCE: Financial Planning for Physicians and Advisors
- INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
- Dictionary of Health Economics and Finance
- Dictionary of Health Information Technology and Security
- Dictionary of Health Insurance and Managed Care
***
Share this:
Filed under: Ethics, Health Economics | Tagged: Free Market Medical Association, James Lansberry, Samaritan Ministries and Patient Centered Doctors |
The Leading Business Education Network for Doctors, Financial Advisors and Health Industry Consultants 
When Going Gets Tough
Recently, I had a Review and Discovery meeting with a physician in her late 50s. When I first saw her, she looked burnt out and stressed. Who can blame her? She has been dealt a very bad hand in life.
• One of her children suffers from down syndrome and requires lifelong care.
• Her husband, also a physician, passed away several years ago, leaving behind a financial mess
• The financial professionals who were supposed to help her, led her to make disastrous investments. She lost her house and had to declare personal bankruptcy.
• Her father recently passed away, also leaving behind a financial mess.
• Her mother is so dependent on her now that she cannot continue her medical practice.
She told me she almost wanted to pull her hair out when thinking about her responsibility to her patients, her children, her mother and yet she can’t even sort out her own personal finances.
I did not mince words in telling her how dire her financial situation is. When I told her how much she needs to retire, she almost fell off her chair.
I then told her that if she were able to put aside $30k a year, and the money is invested well, she might be able to get to what she needs to retire at 75.
The true saving grace is that she is a physician. As long as she is healthy, she will always find employment.
For a while, I hesitated to take her on as a client, since her asset is pretty far away from meeting my minimum. She will be a client who needs a lot of work but my financial payoff will be relatively small. I am tempted to point her in the right direction and let her embark on the journey herself. This is what I usually do with prospects who do not meet my minimum.
With so many burdens already on her and with no room for mistakes, she may not be able to embark on this journey by herself.
When I told her I would be willing to be her advisor and guide her through the journey to financial freedom, the relief on her face was palpable.
She shared with me that she loves painting and when she does so, she forgets all her troubles. I told her: “Now that I’ll take the burden of righting your personal finance off your plate, go do more paintings. Stay healthy and spirited, since your mother, your son and your patients need you.”
When going gets tough, the tough gets going.
Michael Zhuang
LikeLike