Paul Morton, CFP®, ChFC®’s Post

For many physicians, especially residents and fellows signing their first employment contract, the signing bonus may seem like a breath of fresh air; however, it can be confusing if one is not familiar with some basic income frameworks used to distribute bonuses. Furthermore, if a physician is unprepared for how the IRS views the bonus, it can be downright devastating. This article will explore a few of the most common bonus structures that physicians encounter when signing employment contracts.

The State of Iowa is attempting to support its healthcare systems, but price controls often prove ineffective. The labor supply remains constrained, and there is potential that this will backfire, resulting in workers choosing other states. Solutions exist that can help healthcare systems drive more value in contract labor. Let’s connect and discuss innovative solutions that can result in sustainable operations.

A few nursing home operators are openly communicating with staff about the challenges they face in offering higher pay. These conversations often center around cash flow issues and the tight margins facilities operate under. I was amazed that a CNA I struck up a conversation with understood that there was a 1.5 year gap in between when a cost report is filed and when their facility is reimbursed through a higher Medicaid rate. Or that she even knew what a cost report was. The owners of this facility made an effort to educate all staff about how this process works.    It helped some employees realize the struggles that nursing home providers face when it comes to having sufficient operating cash on hand. And frankly have someone else to blame if their compensation isn’t where it should be. Rather than causing staff to panic or feel insecure about their jobs, these conversations created a sense of inclusion. Of course, most employees don’t grasp the finer details of margins or profitability, but that wasn’t the point. The point was that staff felt respected because ownership attempted to have these conversations with them in the first place. This actually played a key role in keeping union labor out during a recent vote. A decision that may have tipped the other way if some staff didn't have a little more empathy for their employer.

NHS PAY OFFER - after coming back from my family holiday I was encouraged to hear that NHS staff have been offered 5.5% pay rise for those on Agenda for Change pay scales (most staff except doctors and dentists) which is much needed. Nurses shouldn't have to use food banks! There is still problems with the Agenda for Change following changes made by the last government. Eg if you start at the bottom of the band for some you don't revise pay increase for 5 years. But this is a positive step forward. What do others think? https://lnkd.in/dsuFfPd4 #nhspay #agendaforchange #opiniononnhspay

🔍 Looking for Answers in Workers’ Compensation? Visit “Ask Joan”! 🔍 At Viscardi, we understand that navigating the complexities of Workers’ Compensation can be challenging. That’s why we created the “Ask Joan” column, a valuable resource where you can find answers to common industry questions. Sample Question: From a claimant: I'm worried my job will be in jeopardy if I tell my employer I was injured, how can I protect myself? Joan: Workers’ Compensation is responsible for your injury that occurs as a result of an incident/injury at work. In order to receive benefits, you must inform your employer and complete the appropriate forms. Whether you’re an employer, claimant, or industry professional, “Ask Joan” has insights that can help you manage and understand Workers’ Compensation better. 📚 Explore the full “Ask Joan” column linked below. #WorkersCompensation #ClaimsManagement #AskJoan #IndustryInsights #ViscardiCares

GP practice managers currently trying to work out their budget for staff pay rises can find some useful advice from AISMA Vice Chairman James Gransby in this Management in Practice article published today. He explains that how much you can afford will depend on staffing mix and partner numbers and offers some worked examples to give a realistic picture for two different practices. https://lnkd.in/ea4EkNwN

In the heart of home care, competitive pay reflects the invaluable service of our caregivers, nurses, and therapists. 🏥 Knight shines a light on the importance of fair compensation to ensure the well-being of those who care for our most vulnerable. Dive into our analysis on home healthcare pay rates and discover how you can support a more motivated, skilled workforce.

Shift work getting you down? Explore flexible income options designed for busy nurses like you. Balance your career and financial goals with ease. ⏰💼 Click below to purchase! https://a.co/d/eS60Zzw Contact us! 📞 786-286-0403 📧 [email protected] #timeoptimization #focushacks #mindsetmatters #timemanagementtips #authorlife #bookrecommendation #productivityhacks #goalsettingmindset #timeworksforyou #focusandsuccess

The doctors’ pay review body has recommended a 6% pay uplift for salaried GPs this year, according to the BMA’s sessional GP committee chair. The Government is funding 6% pay rises for all GP partners, salaried GPs, and practice staff. However, there is still significant uncertainty about how this will impact practice finances. Fortunately, Pulse Today has provided an explainer to guide you through the intricacies of this update. Check it out here: [What the 6% pay rise means for GP practice finances](https://lnkd.in/eDkefVan) #Healthcare #GPs #Finance #PayRise #Pulsetoday #PracticeManagement #BuildingMinds #NHS

Have you ever wondered how your pay compares to the cost of living in different states? Check out this article discussing NP salaries in 2024 based on the cost of living in each state. https://hubs.la/Q02CF4Cg0