Whatever Happens With Healthcare, Preparing For Retirement Should Still Be Priority Number One For Physicians!


Time will tell as to whether the Trump Administration's policies will positively impact physicians.

Let's face it, if his policies help healthcare in general but don't improve physician reimbursements, will physicians consider anything to really be better?

Yes, AI can help with more accurately diagnosing patients' diseases.

Yes, AI can help streamline clinic efficiency for doctors, but at what start-up cost? And how long will it take for the future savings to offset the up front costs?

If regulations are lifted on hospitals, that will certainly be beneficial for doctors and patients. Will that increase the hospital's profitability? Maybe. But even if it does, will that lead to higher employed physician salaries? We can hope, but with the financial state of most hospitals after Covid, it is doubtful.

Decreasing the costs of medications is a very worthwhile goal. Patients would benefit. Doctors would benefit if patients are more able to afford them and if they are more compliant with their use. 

Again, if these changes help patients, hospitals, nursing homes, pharmacies, pharmaceutical manufacturers, etc., doctors may notice some improvements in the ease of patient care.

But if physicians don't achieve a significant increase in their income, will the "system" really be perceived as any better?

One change that may occur will definitely positively affect physicians. 

If the corporate tax rate is decreased to 15%, that will certainly increase physician's income which would be great!

So, as much talk as there is about the Trump administration and its agenda, I am quite skeptical that there will be any significant change in the income of physicians from their healthcare practices.

Therefore, it is still of utmost importance that you be making good progress toward your retirement goals. 

I have said many times here that, it is my opinion that almost all physician frustrations and complaints would be solved by becoming financially independent. 

I frequently ask physicians, "How would you practice if you didn't need the income?"

Many say they would make major changes in their practices.

These changes include limiting the number of patients seen, opting out of Medicare, limiting the number of surgeries performed, seeing only patients with certain diagnoses they love to treat, performing only their favorite surgeries, working fewer days of the week, and taking more time off.

Others say they would quit healthcare completely. 

But, the key to all of these decisions is not needing the income from the practice of healthcare any longer. 

And that comes from reaching financial independence. 

That's why it should be priority number one!



​Ben Holt, M.D.