You're starting one of the most interesting and likely momentous part of your life; your residency. You've got enough on your mind when starting residency, let us help you hopefully save some money! Read below to find out what potential tax deductions you may have when starting residency! Moving Fees One of the more costly parts of starting residency is the potential move from where you live to … [Read more...]
Medical School Debt: Part Three
In parts one and two we discussed your loans, deferment versus forbearance as well as how to find all your student loans and what is consolidation. In part three below we discuss the most common current loan repayment programs available to you and some information on each program. Current Loan Repayment Programs The Federal Government offers a number of repayment programs. Below are the most … [Read more...]
What is Public Service Loan Forgiveness and Should I Use It?
What is Public Service Loan Forgiveness? Public Service Loan Forgiveness (PSLF) is a new loan forgiveness program designed by the Federal Government which forgives loan balances after 120 qualifying payments. The program does have some requirements, of which the most important is the requirement to work at a private or public non profit employer. The other important requirements include: Work … [Read more...]
Should I be an Independent Contractor or an Employee?
You've come to your last year of residency and there is finally a light at the end of the tunnel. Everywhere you go there are job opportunities as head-hunters seek you out at conferences, by email and phone. You compare job A and B with the details below. Job A is an Independent Contractor position and Job B is an Employee position. Which is the better … [Read more...]
What is a Relative Value Unit (RVU)?
RVU? Is that like a special recreational vehicle for EM docs? Not exactly. Read below for a quick and to the point description of RVUs and how they will affect you. Relative value units, or RVUs, were created by the Federal Government in 1992 in an attempt to standardize physician payments. The Federal Government created the Resource Based Relative Value Scale (RBRVS) which assigned each CPT … [Read more...]
How Does Emergency Medicine Work After Residency?
So, you're a medical student in their third or fourth year and you're considering an emergency medicine residency. Given that you're reading this website you're also a savvy person who wants to know what are the prospects after residency? You want to know if going into emergency medicine, beyond the obvious pace and lifestyle, makes economic sense for you. Hopefully after reading this, you'll have … [Read more...]
Introduction
Medical training involves exhaustive time, energy and resources that are all put towards doctors in training becoming excellent clinicians. However, most of us finishing our training have had minimal education on our finances. It may not be emphasized while training but, we all know that, having financial stability gives you the opportunity to work because we enjoy it and not because we have … [Read more...]
Welcome!
Welcome to The Business of Emergency Medicine! Karan and I created this website because we wanted to share our efforts and knowledge with our fellow emergency medicine doctors and future doctors. We both went through medical school and residency and learned how to take care of the dislocated shoulder, the atrial fibrillation with RVR and the myriad of other medical problems but no one ever … [Read more...]