CPAs can be incredibly useful for doctors with complex financial situations. CPAs can help doctors with tax preparation, financial planning and income tax advice. When choosing a tax preparer, be sure to verify their credentials, choose someone with experience with doctors’ finances, take note of their service fee structure, and conduct interviews before beginning to …
A high-yield savings account is a simple concept: You save money faster due to a higher rate. There are a few key considerations when choosing a high-yield savings account — such as the Annual Percentage Yield and fee structure. A high-yield savings account is a simple concept: You save money faster due to a higher …
How A High-Yield Savings Account Can Help Doctors Save Money Faster Read More »
Key takeaways: Your credit score can have a big impact on your ability to borrow money or open new credit cards. Raise your credit score by making on-time payments, decreasing your credit usage, and keeping existing credit cards or other accounts open if possible. Panacea Financial does not use a doctor or doctor-in-training’s credit score …
How Doctors Can Improve Their Credit Score & Other Common Credit Score Questions Read More »
Key takeaways: The most important part of saving for retirement is starting as early as possible. 401(k)s are employer-sponsored retirement accounts that are most beneficial when the employer matches a portion of the employee’s contribution. IRA accounts are individual retirement accounts that allow more freedom to invest on your own terms. Speak with an experienced …
What Is A 401k & An IRA? What Doctors Need To Know About Retirement Savings Read More »
Key takeaways: Credit card consolidation takes multiple credit card balances and rolls them into one monthly payment. Doctors can often build up credit card debt in school and residency, which can quickly become toxic when not paid off. Personal loans are one option for consolidating credit card debt. Americans have over $840 million in credit …
What You Need To Know About Credit Card Consolidation For Doctors Read More »
Key takeaways: Private practice employment and ownership is declining. Owning and working for a private medical practice can allow a physician to have greater autonomy, can be more lucrative, and allows the owner to develop non-medical skills. Private practices are important to healthcare, allowing patients and providers to have more options. Most physicians are employed …
The Changing Landscape Of Medicine: Trends & Key Benefits Of Private Practices Read More »
Key takeaways: Personal loans offer doctors money when they need it most for any need — credit card consolidation, application fees, relocation and more. Panacea Financial’s PRN personal loan was created specifically for doctors and doctors-in-training with a number of unique benefits. With examination fees, residency relocation costs and credit card debt, becoming a doctor …
Personal Loans For Doctors: What You Need To Know Read More »
What is the Average Medical School Debt? Key takeaways: The average medical student graduates with $241,600 in total student loan debt. Between 76% and 89% of medical students graduate with debt. Private colleges are generally more expensive than public institutions. It is no secret that medical school is expensive. Most physicians enter the workforce burdened …
A Fatal Medical Error: How the RaDonda Vaught Case Affects the Future of Healthcare To err is human, and Nurse RaDonda Vaught erred. As a result, she has been found guilty of homicide and is now sentenced to three years of supervised probation. A medical error led to the tragic and untimely death of her …
A Fatal Medical Error: How the RaDonda Vaught Case Affects the Future of Healthcare Read More »
Is There a Looming Physician Shortage? Key takeaways: Demand for physician services is expected to grow due to a growing and aging population. Supply of physicians is expected to decrease because of an aging workforce and insufficient new physicians. There will likely be a physician shortage, but the magnitude of it will vary based on …
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