PracticeLink Magazine

Winter 2018

The career development quarterly for physicians of all specialties, PracticeLink Magazine provides readers with feature articles, compensation stats, helpful job search tips—as well as recruitment ads from organizations across the U.S.

Issue link: https://magazine.practicelink.com/i/908008

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PracticeLink.com W INTER 2018 47 the Q uality of life issue There are physicians, and then there are Signature Physicians. Join a winning team. Over 150 physicians have made Signature Healthcare their choice. At Signature Healthcare, physicians are the foundation of our team, with physician representation on our board of directors, integrated care coordination with support staff, and full marketing assistance. Signature Healthcare is an environment where a practice can grow and a physician can excel. Located just 21 miles from Boston, Signature Healthcare a non-profit integrated healthcare system in Southeastern Massachusetts; encompassing the award-winning Brockton Hospital and Signature Medical Group, a multispecialty, multi-site physician group practice caring for patients across seven communities. Working in Southeastern Massachusetts you can access some of the nation's top schools. There is no shortage of cultural events, sporting events, and museums for the whole family to enjoy. In this area you can enjoy a variety of outdoor activities, such as hiking, snowboarding, and skiing. Current Opportunities include: Family Medicine, Internal Medicine, Hospitalist, Complex Care, Neurology, Orthopedics, Surgery. For more information, please contact Carolina Chaves, Physician Recruiter providerjobs@signature-healthcare.org www.signaturephysicians.org (508) 941-7568 Over years, your loan balance will significantly increase. Lynn M. O'Connor, M.D., M.P. h ., now director of the Women's Colorec ta l Ca re P rog ra m at ProHealth Care Associates in New York , u sed forbea ra nce while in residency at The Johns Hopk i ns Hospita l a nd Un ion Memorial Hospital in Baltimore. However, while in forbearance, the compounded interest added up — increasing her balance due when it came time to begin paying. "I needed to put a large lump sum towards my loans just to bring my loans out of arrears [and] get them to a point where they could be refinanced," she recalls. That's why DiLorenzo doesn't re com m e nd forb e a r a nce for physicians starting their careers now. "You don't want all that interest accruing and capitalizing against you. Loan forgiveness and the reduction of accruing interest is much more favorable using income- driven repayment rather than forbearance or deferment." With an income-based repayment plan, DiLorenzo points out, your payment amount in residency can be as low as $0 — and still position you for loan forgiveness while reducing accrued interest. Protecting yourself and family Whatever your loan balance, consider how your family would manage an unforeseen loss of income. "It's important to have a risk management plan in place," says Kribs, advising that the ideal components include disability insurance, life insurance, health insurance and umbrella insurance. Read your employment contract carefully to understand what is offered, and if any additional coverage is needed. During loan repayment, the more important elements are disability insurance and life insurance. Some advisors recommend you purchase the maximum amount of individual disability insurance you qualify for, which provides a tax-free benefit of about two-thirds of your income in the event of total disability. They

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