NATIONAL DOCTORS DAY 2024
This Doctors Day, don't just thank physicians. Help improve their lives with resources on personal finance and tools to prevent burnout and support their mental health.
Financial Resources for Doctors
In addition to this resource, The White Coat Investor offers personalized finance and investment advice for doctors.
For those seeking a more comprehensive and expert guide to creating a successful financial plan and navigating the market, the book Comprehensive Financial Planning Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners is an excellent resource to reference.
Treating Physician Burnout
Physician burnout is a growing concern, affecting doctors at all career stages. Dr. Kim Templeton at the University of Kansas School of Medicine and Health System researches burnout and its impact on minority groups, including women, older physicians, underrepresented minorities, and LGBTQ+ physicians. The AMA is taking action to reduce inbox burden through research, a national conference, and a reduction checklist. Burnout has risen due to the pandemic and the lack of software for medical practices. The AMA is addressing these two key factors to combat burnout.
Hospitals have begun harnessing AI to tackle burnout and “put pajama time to rest.” One Florida health system uses the DAX app, powered by AI from Microsoft’s Nuance Communications division, to transcribe patient and doctor comments into a summary formatted for an EHR.
Mental Health for Doctors
As doctors face increasing pressure on their mental health, there are campaigns and initiatives to provide support. The Dr. Lorna Breen Health Care Provider Protection Act offers grants for mental health resources, and the Physician Support Line (888-409-0141) provides free, confidential support from peer physicians. To manage stress, try coping strategies like getting enough rest, healthy eating, and staying active. Limiting screen time and monitoring symptoms are important. AMA members can also access a free 2-year subscription to Headspace, a mindfulness app to help improve their mental health.
The National Academy of Medicine released its National Plan for Health Workforce Well-Being in October 2022. The plan calls on healthcare and public health leaders, as well as government officials, educators, and industry leaders, to help create policy and system changes that create sustainable work environments that support mental health and reduce the stigma around mental health treatment.
The Council of Graduate Schools and Jed Foundation developed a set of resources to inform future policies and programs addressing graduate students’ mental health and well-being. Council of Faculty and Academic Societies Board member Dr. Catherine Pips also wrote a book with strategies for creating a culture of wellness in hospitals and med schools.
Discounts for Doctors
After working 50 to 80 hours a week and treating upwards of 140 patients a week, doctors deserve to treat themselves. Some of the biggest brands, from athletic wear to entertainment, food, and even UPS, offer special discounts to physicians.
The White Coat Investor included a detailed list of companies such as Adidas, Samsung, and BP, including various physician discounts. Many of these companies use SheerID, which offers deals of its own, or ID.me to verify a doc’s professional status. Others require you to show a badge, while some simply rely on the honor system.
Outside of personalized discounts for physicians, the AMA has a full list of partners who offer discounts to private practice owners. Doctors can save some cash on the costly items a business needs, like new laptops or CME training courses. These benefits are available exclusively to AMA members.