Fawcett’s Favorites 6-1-20

Every week I run into a few articles that I feel are especially valuable and every Monday I would like to share some of the best with you, my readers. I hope you find them helpful.

This week’s favorites include how to go from MD to real estate magnate, nurse fired for using hospital scrubs, 10 ways for less stress and more joy, Medscape’s physician compensation report, and AMA guidelines to physician employment during COVID-19. 

Happy reading!

Many doctors want to get into real estate but don’t know how.  I put everything you need to know to get started in my book The Doctors Guide to Real Estate Investing for Busy Professionals.  This week Wealthy Doc put together a nice article that spells out How to go from MD to Real Estate Magnate. I especially like his Acronym for real estate investing: C.A.N.D.Y.  Yes, I also think real estate is as sweet as candy. 

I find it interesting that a hospital would demand nurses buy and launder their own scrubs to wear on the job, but doctors, who are paid a whole lot more, get free laundered scrubs from the hospital. This nurse decided to buck the system and wear the hospital scrubs during the COVID-19 pandemic so as not to travel home in dirty scrubs. Of course this insubordination and clear violation of the employer’s rules got this Nurse Fired for Wearing Hospital-Issued Scrubs. Seems both parties need a little time out for their part in this matter. What do you think after reading Medscape’s article on this issue?

It was interesting how DocWife and I wrote on a similar topic last week. My article was Ten Ways to Regain the Joy in Medicine, and her’s was Ten Ways to Have Less Stress and Busyness and More Freedom and Joy as a Family. Either way, we seem to need a little more joy in the medical field. Here are two articles to help you do just that. 

Wondering how your income stacks up against your peers? Here is the answer in Medscape’s 2020 Physician Compensation Report. Notice how fast that report can change as many practices suffered, on average, a 60% decrease in patient volume. 9% of independent medical practices report they have closed their practices temporarily. I wonder how many will just stay closed? 

Many physicians have been told the hospital is changing their contract terms unilaterally. Can they do that? What are your rights? The American Medical Association has stepped up to give you some tips on this situation with their article Navigating Physician Employment During COVID-19. Have you been told your salary has been changed? Have you been told you will not be getting a bonus? Have you been asked to work in an area outside your expertise? You need to know your rights about these and other contract issues. During these trying times we all need to work together to create the new normal, which includes your employment contract.

I hope you enjoy these articles as much as I did. I look forward to updating you again next week with a few more articles I find especially interesting. If you read an especially good article, send me the link so I can share it with others.

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