Real Estate Success: How to Stop Overthinking

The LOUNGE - A Newsletter for Savvy Physicians

We scour the net, selecting the most pertinent articles for the busy doc so you don’t have to! Here’s what kept our focus this week…

• Do you find yourself stuck in analysis paralysis when it comes to real estate investing? It's time to break free from limiting beliefs.

• AI in medicine: a transformative journey with legal implications.

• What if there was a way to regain your time and improve your work-life balance as a physician?

• A spike in harassment experienced by doctors during the pandemic has led Doximity to introduce a free service that removes physicians' personal contact information from the internet.

• America is facing a growing physician shortage, making it difficult to provide immediate medical attention to patients in need.

• Mistakes are not a reflection of our worth as individuals or professionals, but rather opportunities for growth and improvement.

ENTREPRENEUR SPOTLIGHT

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LOUNGE TALK

Many people interested in real estate investing find themselves held back by analysis paralysis and self-limiting beliefs. These beliefs, such as not having enough money or experience, can prevent individuals from taking action and achieving their goals. The key to overcoming these barriers is to tame and train your inner voice. The first step is to catch the automatic stories in your head that hold you back. By analyzing these stories and questioning their validity, you can begin to challenge and replace limiting beliefs with more empowering ones. Ultimately, it's about deciding to tell yourself a better story and replacing old, negative beliefs with positive and empowering ones. Taking action and recognizing that every experience is a learning opportunity are crucial in real estate investing success.

Integrating artificial intelligence (AI) into healthcare has become a transformative journey that brings groundbreaking advancements in diagnostics, predictive analytics, and personalized treatment plans. However, along with its benefits, AI also introduces ethical dilemmas, data privacy issues, and the risk of misdiagnoses. As physicians increasingly rely on AI for insights into symptoms, treatment options, and potential diagnoses, the legal implications of this technology remain unclear. It is crucial for doctors to understand the technical aspects underlying AI algorithms, stay updated on the latest research, and navigate the ethical landscape. The ethical dimensions of AI in medicine are vast, encompassing data privacy breaches and biases in AI algorithms, while the regulatory landscape is shaped by organizations like the U.S. Food and Drug Administration and the American Medical Association. Patients have concerns about data security and the trustworthiness of AI-driven diagnoses, which shapes the future of AI in healthcare. The harmonious integration of human expertise and AI capabilities is crucial for the future of healthcare.

According to recent studies, doctors work longer hours on average than professionals in other industries, leading to increased burnout, stress, and depression. To regain their time and improve their work-life balance, many doctors are turning to virtual assistants (VAs) for help. VAs can handle administrative tasks such as managing the office, scheduling appointments, and providing technical support, allowing doctors to focus on growing their practice and pursuing other interests. Furthermore, VAs can support doctors in their entrepreneurial side hustles, helping with tasks like content maintenance and freeing up mental energy for more effective decision-making. Hiring a VA can be a valuable investment, as it saves time and allows doctors to prioritize what matters most to them. When ready to hire, doctors should document the tasks they want to delegate, create a detailed job description, and post it on popular VA hiring websites. Good luck with the search and enjoy the newfound freedom!

Doximity, the medical website used by more than 80% of U.S. doctors, has introduced a new service called DocDefender to address the spike in harassment that doctors have faced during the Covid-19 pandemic. DocDefender scans popular websites for doctors' information and initiates the removal process to safeguard doctors' personal contact information. The platform aims to give peace of mind to doctors and help them feel safer in their personal and professional lives so they can focus on providing better care. The service, which received positive feedback from doctors during testing, will be available to all doctors on Doximity starting Wednesday. Doximity, which debuted on the New York Stock Exchange in June 2021, can offer this service for free due to its strong profit margins.

America is currently experiencing a shortage of physicians, particularly specialists, which is hindering the ability to provide prompt medical care to patients. To address this issue, hospitals are adopting telemedicine programs to provide remote access to specialty care. These programs are being used for physician specialty support, surge specialty support, staffing gaps, and night-shift needs. Dermatology is the most supported specialty, but telemedicine is also being utilized in endocrinology, gastroenterology, pediatrics, and maternal-fetal care. Patients using telemedicine services report overwhelmingly positive satisfaction rates, with nurses having the highest rate at 92%. However, telemedicine programs still face challenges related to infrastructure, physician response times, and technology integration. Despite these challenges, the benefits of telemedicine, such as lowering care delivery costs and improving clinician retention, make it a valuable addition to healthcare systems across the country.

Mistakes are a common part of our human nature, and as physicians, they can often disrupt our meticulously planned professional lives. In the healthcare industry, where small errors can lead to devastating consequences, it is important to recognize that mistakes do not define our competence or worth, but rather present us with opportunities for growth and wisdom. These errors provide valuable learning experiences and insights into areas where improvement is needed, guiding us to become better physicians and healers. Instead of allowing ourselves to be burdened by self-doubt and regret, we can approach mistakes with a sense of humility and open-mindedness, remaining committed to our journey of growth. By embracing our mistakes and integrating the lessons learned into our practice, we can create a culture that fosters resilience, learning, and excellence.

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QUICK BITES

• 13 everyday money deals rich people take advantage of.

• How real estate debt can help build alternative, passive income in this market.

• How to invest $10,000 in today’s market (November 2023).

• Bootstrap beginnings: Low-cost startup ideas for aspiring entrepreneurs.

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