Ophthalmology Business

SEPT 2013

Ophthalmology Business is focused on business topics relevant to the entrepreneurial ophthalmologist. It offers editorial, opinion, and practical tips for physicians running an ophthalmic practice. It is a companion publication of EyeWorld.

Issue link: http://digital.ophthalmologybusiness.org/i/174774

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This problem is compounded when the real estate is owned by a few, while the lease payments are paid by many. Fourth, you are bombarded with all kinds of popular financial media data points that are often inaccurate. Much of this information is inconsistent, most of it written by journalists and not by financial experts, thus many are misled by this dysfunctional financial entertainment. Financial journalists are often dependent upon certain resources that may have a conflict of interest, such as a brokerage house. With all of this available public "information" and the intelligence and work ethic that you have, plus your ability to take in, interpret, and analyze data, it's no wonder you may feel that it may be easy to "do it yourself." In essence, you are assuming the role of someone who, as a highly qualified professional, has devoted his/her professional life to it (as you have with your expertise). You were too busy before that decision! When the task becomes too complicated, you are left to identify a truly trustworthy financial advisor. Fifth, this leads to more discontent and the cycle perpetuates itself. Sixth, mistakes in business, investing, and financial matters are frequently masked by your high cash flow. These mistakes are encouraged by media, some advisors, and by the physician's own perceptions. Sadly, the median U.S. household income is $70,000, and only 3% of the American population is able to retire on that $70,000 a year. The physician's median household income is closer to $300,000, yet only 4% of physicians are able to retire on that amount. Ultimately, how can you dispel the "doctors are not good at business" myth? The solution is simple. Select a proven, fee-based professional who is a well-educated financial expert to consult you, without obligation, to help you define where you are, where you want to be, and what it will take to get there. With their help, should you choose to accept it, you will get a tailored plan to take you from today to goal achievement. They will outline your opportunities, protect your assets, lower your taxes, fortify your cash flow, bolster your performance, and, perhaps more importantly, ease your path to a worry-free retirement. You have the intelligence, the discipline, the capacity, and wealth —now take the step, follow the plan, and make great decisions. OB Dr. Levin is CEO and managing director of Summit Wealth Partners, Orlando, Fla. He can be contacted at MLevin@mysummitwealth.com. New Orleans 2013 This activity has been approved for AMA PRA Category 1 CreditTM Register Now Saturday, November 16 Incorporating Advanced Tear Film Testing into the Point of Care to Drive Evidence-Based Dry Eye and Red Eye Treatment Protocols Astor Crowne Plaza (739 Canal Street) — Grand Ballroom (2nd Floor) 6:30 – 7:00 AM 7:00 – 8:00 AM Registration (and breakfast) Program Program Chair Eric D. Donnenfeld, MD Supported by unrestricted educational grants from: Gold Level – TearLab and TearScience Silver Level – Nicox Register Now! www.EyeWorld.org/meetings

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