The Physician's Conundrum

If you're a successful doctor or healthcare executive or both, you have studied plenty!

Primary, secondary, undergraduate, med and/or grad school, residency, continuing education. That's dedication -- a significant investment! In addition to the financial commitment, that investment probably totaled 30,000 hours in the classroom ALONE. Plus, there was homework, internships, and long hours in your specialty or on the job managing a hospital or medical practice.

The result? You are exceptionally well educated in a very deep and narrow shaft of knowledge. That expertise makes you invaluable to those of us who value excellence in health care.

But ask yourself this. During your 20 plus years of formal education, how many hours of classroom instruction have you taken in courses like preparing for retirement? Or protecting assets from frivolous lawsuits? Or risk management of human capital? Or tax diversification?

The conundrum is that the skill sets that make the health care professional great at what he or she does also makes them and their families in need of deep specialized knowledge outside their fields of endeavor.

Those in-demand skills make for tight schedules. Time away from the office is expensive. And it is not obvious how to differentiate among possible advisors. Where is HealthGrades.com for financial providers!

But let's say you or a family member are dealing with a significant, specialized health care issue -- something OUTSIDE your specialty. You'd reach out to a colleague, wouldn't you? And though you might not know in depth what he or she knows, you'd know how to tell whether they knew their stuff. Wouldn't you?

You'd likely know from a combination of your head and your heart, or, if you prefer, your intellect and your instinct.

The physician's conundrum? His or her financial health may well be on the line. And it's not natural to ask for help.

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