A Physician’s Guide to Protection from Medical Liabilities

October 20, 2022June 17, 2020 by Justin Nabity

You joined the ranks of healthcare professionals to improve the lives of your patients. You would never do anything to put their health at risk. Unfortunately, there are times when your patients don’t agree.

As a physician, you are at risk of malpractice suits from the moment you enter the health care system.

These claims can come when you least expect them, and at the times you are the least prepared. Doctors must do their utmost to protect themselves from medical liabilities, or they risk not only their financial future but also their professional lives.

Protecting yourself from a malpractice lawsuit involves careful attention to your medical practice.

According to Rosenbaum and Associates, physicians have the highest medical malpractice claims, with over 85,000 reports between 2009-2018 (in the United States). The New England Journal of Medicine also claims that 99 out of 100 physicians will face a malpractice lawsuit by the age of 65.

Considering these staggering numbers, you don’t want to leave yourself vulnerable for what seems inevitable. If you work as a medical professional for any amount of time, it isn’t if you will face a medical negligence claim, but when.

The Fed Crashes the Party

July 9, 2025June 16, 2020 by Justin Nabity

Markets fell this week as the Fed injected some harsh truth into the conversation around the economic recovery under way. In its press conference on Wednesday, Fed Chair Powell stressed that while the May jobs numbers are certainly a positive development and that the economy has likely already hit bottom. It’s unlikely that the recovery … Read more

How Physicians Can Avoid the Tax Trap Triangle

October 18, 2022June 16, 2020 by Justin Nabity

At Physicians Thrive, there is one investment pitfall that we see physicians struggle with so often, we gave it a special name: The Physician Tax Trap Triangle. The Tax Trap Triangle describes an imbalance of three key tax-advantages within a retirement portfolio. It also poses a critical risk to physicians’ long-term financial stability. What is … Read more

Group Disability vs. Individual Disability Insurance for Physicians

October 23, 2025June 16, 2020 by Justin Nabity

The need for disability insurance for professionals is crucial. This is especially true for physicians. The choice of whether or not to get disability insurance isn’t a difficult one to make.

Moreover, the real issue comes down to which policy to enroll in. In order to make that decision, you should have a good understanding of the differences in the types of policies you can choose from.

The two classifications of disability insurance include group insurance and individual insurance. Of course, they each have benefits and drawbacks. Knowing these will help physicians take a wise course in their long-term disability insurance purchase.

Many physicians even opt to invest in more than one to secure their financial future and retirement in the event of any medical tragedy.

Furthermore, this side-by-side analysis of group disability insurance versus individual disability insurance will help you determine your best options.

Steps to Get Licensed With the Medical Board of California

November 4, 2022June 16, 2020 by Justin Nabity

Getting licensed with the Medical Board of California is a complicated, yet necessary task if you plan to pursue a career in health care in the Golden State.

However, this process often feels long and drawn out for first-time applicants.

The good news is that the California application process isn’t nearly as difficult as those in other states. You just have to make sure that you’re following the guidelines precisely to complete the entire process in a timely manner.

That means it’s better to start this process sooner rather than later. The last thing you want to do is rush around at the last second.

To have your California medical license application approved by the Medical Board of California (MBC), you’ll need to gather up a good amount of paperwork and documentation to prove you’re qualified to practice medicine.

Keep in mind: This process is not going to be fun or exciting in the least. But, it’ll be worth it once you have that pocket card and wall certificate in hand.

What we’re about to go over is everything you need to know about getting licensed with the Medical Board of California. Follow along closely, and you’ll have your license in three months or less.

Jobs, Jobs, and More Jobs

July 9, 2025June 9, 2020 by Justin Nabity

Markets rose dramatically this week as May employment data shocked analysts. Context needs to be given to fully appreciate how surprising Friday’s numbers were; no one anticipated the employment numbers released on Friday. And by no one, that means literally no one. Bloomberg survey analysis shows that not a single economist predicted a positive number, … Read more

Provider Reviews: AMA Disability Insurance for Physicians

October 20, 2022June 4, 2020 by Justin Nabity

After college, medical school, and residency, earning a physician’s salary is a welcome reward for the amount of education and training you’ve put in.

But would you be able to live the lifestyle you want if you weren’t able to earn your physician’s income anymore?

Disability insurance is one of the best ways to protect your financial interests. With a comprehensive disability insurance policy, you can collect a portion of your income even if you are ill or injured and cannot work.

Physicians should know the importance and value of having disability insurance. But having it isn’t enough — you need to have a policy with the right provider.

As part of our ongoing series of disability insurance provider reviews, today we’re taking an in-depth look into AMA disability insurance.
If you’re shopping around for disability insurance, read this review before you decide to buy disability insurance through AMA.

What Is Sullivan Cotter? What Physicians Need to Know

November 26, 2024June 3, 2020 by Justin Nabity

Interestingly, the market for physicians is an ever-fluctuating scale. Healthcare organizations want to keep costs low while maintaining physician productivity and fair compensation.

To find benchmark numbers that ensure a successful healthcare business requires a lot of data.

The development of independent consulting firms met the need for this data. They took the initiative to create a document that gave these healthcare organizations the information they needed.

In order to be accurate in their statistical data, these sources had to have a significant number of participants to be reliable. Each of these consulting firms survey thousands of physicians from a variety of specialties in order to make their survey data accurate.

Sullivan Cotter and Associates is one of the leading and most influential consulting firms in that industry.

This article will give an in-depth explanation of the role they play in the determination of your potential salary. And how they go about accomplishing that.

Here’s why your employer (or school) should offer Multi-Life GSI disability insurance

November 27, 2024June 2, 2020 by Justin Nabity

Multi-life GSI offers groups of physicians discounted rates on superior individual disability insurance policies Robust income protection is a pillar of financial planning for physicians. As you take stock of your financial assets and liabilities, it is important to assess whether your earnings are properly insured. Own-occupation, long-term disability (LTD) insurance provides a critical safety … Read more

The Ascent Continues

July 9, 2025June 1, 2020 by Justin Nabity

Markets climbed again this week as several indicators returned better-than-expected economic data. U.S. states have continued to permit further non-essential business openings in spite of Covid-19. Helping to support broader optimism. Equities finished the week up after durable goods orders beat expectations. Financials led the S&P sectors this week, finishing ahead of industrials and real … Read more

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