Financial Planning Handbook for Physicians and Advisors

Financial Planning Handbook for Physicians and Advisors: An Integrated Approach
Dr. David Marcinko, CMP, MBA, CFP

Softcover, 312 pages

ISBN 0763745790
9780763745790
Jones & Bartlett
January 2005
(click below for the best currently available price for this important resource)

Managed care and government-led initiatives to control health care costs have decreased physician compensation.

Physicians must now carefully plan their practices and seek financial security in a manner that is markedly different from other professionals. To do so, physicians and their advisors must be well informed about the growing range of financial planning options to choose the course that balances risk, cost, time horizon, outcome and their own personal economic style.

This innovative guide confronts the reality that personal financial planning for physicians is decidedly more complex than it is in other professions.

Financial Planning for Physicians and Advisors describes a personal financial planning program to help doctors avoid the perils of harsh economic sacrifice. It outlines how to select a knowledgeable financial advisor and develop a comprehensive personal financial plan, and includes important sections on:

When fully implemented, this book will help physicians and their financial advisors develop an effective long-term financial plan. This book includes the following contributions:

Dr. David Marcinko, CMP, MBA, CFP, is a healthcare economist, adjunctive clinical professor and former private practitioner from Temple University, in Philadelphia. In the past, he edited three practice management textbooks and four personal financial planning books for physicians and healthcare professionals. His clinical publications are archived in the Library of Congress, and the Library of Medicine at the National Institute of Health. His economic thought leadership essays have been referenced by Investment Advisor Magazine, Medical Group Management Association (MGMA), American College of Medical Practice Executives (ACMPE), American College of Physician Executives (ACPE), JAMA.ama-assn.org, Healthcare Management Associates (HMA), CFP© Biz (Journal of Financial Planning), Financial Planner’s Library Online, and the Business of Medical Practice, among others. A favorite on the lecture circuit, Dr. Marcinko speaks frequently to medical societies and financial institutions throughout the country, in an entertaining and witty fashion.

"The Financial Planning Handbook for Physicians and Advisors is essentially a 'how-to book' on finance, financial planning and related topics for healthcare providers. Fortunately for patients, medicine requires a high degree of professional training, both in terms of science and technology. Unfortunately for providers, it affords little time for learning about financial or investment planning... The coverage is both broad and yet detailed, ranging from basic macroeconomic factors that affect our national economy, such as the Gross Domestic Product (a single figure that summarize the business activity of the US), to the more mundane activities of maintaining cash flow, college funding, tax reduction strategies, home mortgages and even correcting credit card reporting errors. More sophisticated topics include: debt and equity investment vehicles, derivatives, mutual fund and hedge fund investing, portfolio management and risk analysis, and the new laws on tax, retirement, and estate planning. The book rightly concludes with practice succession planning for doctors and a chapter on the psychological meaning of money itself... Simply put, my recommendation is to read the Financial Planning Handbook for Physicians and Advisors and 'reap'." - Frank A. Cappiello, President, McCullough, Andrews & Cappiello, Inc., Distinguished Visiting Professor of Finance, Loyola College, Maryland