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| IDEAL PHYSICIAN CLIENTS Despite the ravages of managed care, market competition and insurance reform, physicians are still high-income earners; although they may not be prodigious savers or savvy investors. They are besieged with federal and state policy mandates, rules and regulations, and often work 80-plus hour weeks. Business acumen may not be good, either. Thus, there is a tremendous need for integrated financial planning and medical management advice that makes them ideal clients for FAs. But, doctors also realize that they are targeted by impostors on all levels. And, as time-compressed medical providers, are often difficult clients to meet, acquire and work with; and some may not accept poseurs gracefully. Dr. Today  "No! I don't talk to stock-brokers, insurance agents or financial advisors" Moreover, the American Medical Association is considered out-of-touch with today's physicians despite a multi-million dollar campaign to overhaul its brand image. The effort increased membership by 2.5 percent, but didn't turn around a decade long decline. The AMA jettisoned its logo, overhauled its marketing, and launched a mix of print, TV and radio spots. Nevertheless, it represents less than 19 percent of the more than 800,000 doctors in the United States; a fact used against it during hearings by rival lobbies such as the health insurance industry. And, contrary to the belief of many FAs and consultants, the association has lost political might, too! [Chicago Tribune, May 24, 2006]. Some consider it a relic of the past; especially younger physicians with other advanced degrees who may be more sophisticated in there own right. Dr. Tomorrow
"Why YES! I recently read about CERTIFIED MEDICAL PLANNERs" For the contemporary doctor, it’s a unit-of-one health economy out-there, where “Me Inc.” is now the standard and physicians must maneuver for advantages that boost credibility among patients and payers. They must challenge conventional wisdom, and think outside-the-box to recapture their dreams and ambitions. Like doctors, as an FA or consultant, you must differentiate yourself, too. You must learn something new and unknown by your competitors. You must market your educational accomplishments and let the world know. Be a non-conformist. The conformity of collaboration may be a financial services industry standard for some, but it also may be a straitjacket on creativity. FAs and consultants should create and innovate; not blindly follow leaders into oblivion. And so, understand that the present is not necessarily the future. Attempt to see the future and discern your place in it. Master the art of the quick change, and fast but informed decision making. Do what you love, disregard what you don’t, and let the fate's have their way with you. Then, decide for yourself if you should become a CERTIFIED MEDICAL PLANNER™ fiduciary or adhere to yesterday’s entrenched bureaucracy. PHYSICIAN COMPENSATION BY MEDICAL SPECIALTY Specialty | All Physicians | Starting | East | West | South | North | Allergy and Immunology | $207,278 | $154,080 | $193,480 | $210,802 | $204,870 | $206,241 | Anesthesiology | $315,300 | $250,000 | $275,000 | $298,000 | $334,200 | $334,033 | Cardiac & Thoracic Surgery | $421,620 | $310,000 | $387,298 | $343,050 | $421,240 | $469,860 | Cardiology | $336,000 | $280,000 | $264,900 | $343,646 | $386,957 | $369,566 | Colon & Rectal Surgery | $327,927 | **** | $300,000 | **** | **** | $350,798 | Critical Care Medicine | $228,740 | **** | $220,235 | **** | $227,242 | $228,740 | Dermatology | $274,014 | $200,000 | $225,000 | $289,409 | $322,138 | $263,201 | Diagnostic Radiology - Interventional | $410,250 | $320,000 | $345,860 | $410,000 | $537,942 | $410,250 | Diagnostic Radiology - Non-Interventional | $364,899 | $257,367 | $330,000 | $350,224 | $383,319 | $383,256 | Emergency Care | $230,930 | $175,500 | $200,327 | $228,814 | $225,905 | $239,984 | Endocrinology | $185,000 | $140,000 | $166,675 | $185,000 | $177,665 | $201,241 | Family Medicine | $164,209 | $120,000 | $141,225 | $166,750 | $163,417 | $168,488 | Family Medicine - with Obstetrics | $163,334 | $125,000 | $140,643 | $162,352 | $161,421 | $167,222 | Gastroenterology | $308,246 | $250,000 | $263,594 | $325,698 | $325,033 | $306,994 | General Surgery | $294,000 | $200,000 | $250,028 | $275,336 | $301,761 | $330,903 | Geriatrics | $159,492 | **** | $150,000 | **** | $158,400 | $170,278 | Gynecological Oncology | $334,009 | **** | $290,795 | $345,355 | **** | $347,005 | Gynecology | $217,283 | **** | $220,794 | **** | $224,420 | $217,256 | Gynecology & Obstetrics | $250,196 | $180,000 | $232,276 | $240,118 | $258,756 | $275,419 | Hematology & Medical Oncology | $255,007 | $200,000 | $207,300 | $261,004 | $293,043 | $255,007 | Hospitalist | $171,991 | $150,000 | $153,515 | $175,084 | $183,775 | $171,913 | Hypertension & Nephrology | $214,751 | $165,000 | $186,683 | $238,750 | $253,228 | $214,751 | Infectious Disease | $185,920 | $140,111 | $161,206 | $179,402 | $175,000 | $203,640 | Intensivist | $231,111 | **** | **** | $230,391 | **** | **** | Internal Medicine | $169,569 | $120,000 | $158,824 | $171,246 | $167,740 | $170,511 | Neonatology | $229,486 | $165,000 | $242,492 | $222,750 | $223,312 | $232,738 | Neurological Surgery | $465,006 | $400,000 | $352,352 | $495,266 | $553,500 | $465,006 | Neurology | $201,241 | $151,960 | $180,882 | $199,614 | $204,000 | $201,241 | Nuclear Medicine (M.D. only) | $268,450 | **** | **** | $277,193 | **** | $267,500 | Obstetrics | $240,165 | **** | **** | $228,813 | $280,145 | $232,180 | Occupational/Environmental Medicine | $181,716 | $140,000 | $157,611 | $182,159 | $173,541 | $187,470 | Ophthalmology | $264,422 | $177,500 | $232,863 | $254,743 | $276,280 | $304,994 | Oral Surgery | $308,320 | **** | **** | **** | $283,476 | $320,007 | Orthopedic Surgery | $381,429 | $250,000 | $336,163 | $374,942 | $390,270 | $393,249 | Orthopedic-Medical | $252,803 | **** | $326,938 | $250,650 | **** | $219,502 | Orthopedic Surgery - Joint Replacement | $450,000 | **** | **** | $456,912 | **** | $449,839 | Orthopedic Surgery - Hand | $389,997 | **** | $335,000 | $378,000 | **** | $393,497 | Orthopedic Surg.-Pediatrics | $389,997 | **** | **** | **** | **** | $389,999 | Orthopedic Surgery - Spine | $518,937 | **** | **** | $574,345 | **** | $433,658 | Otolaryngology | $303,000 | $210,000 | $250,390 | $282,966 | $303,011 | $320,007 | Pathology (M.D. only) | $250,000 | **** | $245,422 | $247,764 | $252,000 | $268,500 | Pediatric Allergy | $186,523 | **** | **** | **** | **** | $186,523 | Pediatric Cardiology | $219,992 | **** | **** | **** | **** | $221,492 | Pediatric Endocrinology | $169,958 | **** | **** | **** | **** | $168,000 | Pediatric Gastroenterology | $193,193 | **** | **** | **** | **** | $190,345 | Pediatric Hematology/Oncology | $195,249 | **** | **** | $193,387 | $198,940 | $196,897 | Pediatric Intensive Care | $200,000 | **** | **** | **** | $200,000 | $200,000 | Pediatric Nephrology | **** | **** | **** | **** | **** | **** | Pediatric Neurology | $185,212 | **** | **** | **** | **** | $192,528 | Pediatric Pulmonary Disease | $158,429 | **** | **** | **** | **** | **** | Pediatric Surgery | $326,399 | **** | **** | **** | **** | $354,871 | Pediatrics & Adolescent | $169,267 | $115,000 | $155,916 | $168,301 | $191,511 | $168,609 | Pediatric Infectious Disease | $173,993 | **** | **** | **** | **** | $173,993 | Perinatology | $341,922 | **** | $246,597 | $336,537 | **** | $399,360 | Physical Medicine & Rehabilitation | $193,468 | $145,000 | **** | $183,362 | $204,775 | $201,993 | Plastic & Reconstruction | $328,764 | $220,020 | $273,000 | $344,059 | $344,998 | $353,983 | Psychiatry | $177,000 | $135,000 | $155,673 | $197,021 | $168,160 | $177,000 | Psychiatry - Child | $192,416 | **** | **** | $220,055 | **** | $183,621 | Pulmonary Disease | $222,000 | $163,626 | $199,831 | $249,865 | $225,400 | $228,359 | Radiation Therapy (M.D. only) | $334,171 | **** | $285,940 | $343,844 | $328,350 | $368,240 | Reproductive Endocrinology | $263,568 | **** | **** | **** | **** | **** | Rheumatologic Disease | $188,260 | $150,000 | $153,000 | $192,026 | $181,525 | $193,301 | Sports Medicine | $193,573 | **** | **** | **** | **** | **** | Surgical Pathology (M.D. only) | $ | $ | **** | **** | **** | **** | Surgical Sports Medicine | $391,497 | **** | $485,670 | $459,592 | **** | $389,997 | Transplant Surgery - Kidney | $345,000 | **** | **** | **** | **** | $379,995 | Transplant Surgery - Liver | $349,788 | **** | **** | **** | **** | $379,995 | Trauma Surgery | $312,272 | **** | $265,457 | **** | $310,385 | $352,352 | Urgent Care | $176,353 | $125,500 | $179,300 | $179,357 | $180,395 | $173,683 | Urology | $324,690 | $219,229 | $270,493 | $302,600 | $351,585 | $358,008 | Vascular Surgery | $335,642 | $221,500 | $297,636 | $318,388 | $337,762 | $350,000 |
Source: MGMA Physician Compensation Survey, 2007. According to Russ Alan Prince, there are 50,000 physicians with a net-worth of more than 5 million dollars; controlling more than 375 billion dollars. Locum Tenens Specialty Compensation per 8 Hour Shift ### The Institute of Medical Business Advisors, Inc. So, what’s next? We believe in Predictive Analysis, the scientific name for using a data ware-house and gut heuristic feelings to determine where business intelligence is headed. It involves running historic data from the medical and finance industries, using mathematical algorithms, neural and Bayesian networks, and decision-trees; to identify patterns, trends and predictable future outcomes. The ability to make such a guess is the key to success; and exploring new niche market opportunities. The idea isn’t new; insurance companies have used actuarial tables for years, and financial firms use Predictive Analysis to assign credit-risk score to borrowers.
What’s different now is that iMBA is using Predictive Analysis as an ethical and high-level cognitive prospecting tool to assist the medical profession; because Healthcare Matters. The result is a re-engineered financial advisor and medical management consultant. To the benefit of all concerned. Next Generation Re-Engineered Advisor
CERTIFIED MEDICAL PLANNER™ | |
| Request an iMBA Speaker The iMBA Speakers’ Bureau™ will help you find the keynote speaker or CERTIFIED MEDICAL PLANNER™ charter-holder you need for financial or health conventions, medical society prospecting meetings, or wealth management marketing seminars. Our nationally known speakers are ideal for RIAs, BDs, mutual fund companies, medical societies or independent financial advisory firms seeking information for their FAs or representatives in the healthcare space. You can choose from among dual degreed medical or financial professionals with expertise in most areas of personal finance, health economics, information technology, managed care and medical business management. 
Competitive Fees - Exceptional Value | | Become an iMBA Sponsor By supporting the educational initiatives of iMBA, you promote the CERTIFIED MEDICAL PLANNER™ designation and re-enforce your brand in a national marketplace of thought leaders, visionaries, essayists and futurists of the healthcare industrial complex. For example, we have networked with Fortune 500 healthcare technology and pharmaceutical companies, as well as financial service corporations and business management consultants; large and small. We represent diverse investment opportunities, potential clients and an expanding economic future. 
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