Doctors, Money and Business and The Need to Know


“Money makes the world go ‘round.”

Whether you believe this or not, it’s a hard truth.  Money is ubiquitous—its pervasive effect is felt in everyday life.  And money is the primary language of business.  So, I’m still shocked to hear “pretty much nothing” when I ask residents what they’re taught about money and business these days.

I’ve lectured on money and business to medical students and residents, teaching them basic business concepts, the bare-bones fundamentals every doctor ought to know, not only to keep them from making huge financial blunders, but more importantly, to help them develop a secure and rewarding financial future.  I don’t proclaim any genius-level investing advice or magical wealth-building schemes, but discuss simple business concepts from the perspective of a doctor.

The lecture handouts have been written, rewritten and expanded, with the intent that anyone reading them will understand the concepts even if they’ve never attended the lecture.  This morphed into a mini-book, written in a narrative format meant to educate AND entertain, since much of retained learning is often accomplished by such means.  This parvum opus became a guidebook well over 100 pages, which I make available gratis to residents and medical students or anyone interested in learning about business basics.  It’s downloadable from my website page at  Just follow down the page to the graphical link Business Basics for Physicians.

The guidebook is meant to be a work in progress, evolving and updated, corrected and expanded.  So if you see any errors or have suggestions for improvement, please don’t hesitate to comment on the blog.

©Randall S. Fong, M.D.

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