CAREER RENEWAL FOR THE ACADEMIC PHYSICIAN Part II: Managing Your Time and Money

PETER S. MOSKOWITZ, M.D.EXECUTIVE DIRECTORCENTER FOR PROFESSIONAL & PERSONAL RENEWALPALO ALTO, CA

Foundation for Medical ExcellenceOctober 5, 2013 Maximizing Your Vital Resources:

Values-Based Time & Money Management

Disclosure StatementPeter S. Moskowitz, M.D. reports he has no relevant financial relationship with any commercial entity, other than his own consulting business, that provides products or services relevant to this presentation.

Maximizing Your Vital Resources

Learning Objectives At the conclusion of this presentation physicians will: 1. Address personal values surrounding time allocation. 2. Assess current personal time allocation.

3. Clarify personal values surrounding money allocation. 4. Evaluate current personal wealth management.

STRATEGIES FOR PERSONAL RENEWALAssess Values and Purpose AnnuallyInstitute Personal Wellness - Healthy Diet - Regular Aerobic Exercise - Consistent Sleep - Preventative Medicine - Regular FunManage Your Stress Effectively (healthy coping)Balance Your LifeDevelop a Support NetworkManage Your Time and Money StrategicallyBuild Good Communication Skills Copyright CPPR 2012

Why the Fuss about Time & Money?Both can be sources of great stressGood management required for renewalDocs tend to have poor coping skillsLife & practice conditions, effecting time and money, are changing rapidlyThe New Rules

PHYSICIAN COPING SKILLSWork HarderWork HarderWork HarderBitch, Bitch, BitchHope Things ChangeIsolate Copyright CPPR 2012

CHANGINGCAREER / LIFE EXPECTATIONSThe Burden of Educational DebtThe Cost of Home OwnershipThe Desire for a Balanced LifeNew Work Options Transitions to Non-Clinical Careers

The Old Rules vsThe New RulesThe Linear Rule The Outside-In RuleLearning Is Just For Kids RuleThe Steady State RuleThe Circular RuleThe Inside-Out Rule Learning Isnt Just For Kids Rule Endless Change Rule Copyright CPPR 2012

The Linear RuleBe honest and work hard and you will experiencePROGRESSHAPPINESSSECURITYSUCCESS

The Circular RuleA CHAPTER OF YOUR LIFENEW BEGINNINGExternal ChangeDreams & PlansAccomplishmentsDecline & Discord

Internal RenewalHealingNew Goals & PurposeTrainingA LIFE TRANSITION BETWEEN CHAPTERSENDING

The Outside-In RuleFamilyWork, CareerVoluntaryGroups,Professional Associations,National RolesCommunity,ChurchYOU

The Inside-Out RuleFamilyWork, CareerVoluntaryGroups,Professional Associations,National RolesCommunity,ChurchYOUGlobal Roles and CitizenshipWinning at Life Works Best from the INSIDE-OUT

The Steady-State RuleAdulthoodChildhoodWork + Love creates progress, reaching self-perpetuating levels of happiness, success, and security that get better and better with time.

The Endless Change RuleMidlifeYoung AdulthoodElderhood

The CYCLE OF RENEWAL

A Model of Life and Career Change

PHASE 1GO FOR ITPHASE 2THE DOLDRUMSPHASE 4GETTING READYPHASE 3COCOONINGMINITRANSITIONRESTRUCTURE YOUR CHAPTERA LIFE CHAPTERA LIFE TRANSITONTheDisenchantedSelfTheInnerSelfThePassionateSelfTheHeroicSelfTHE CYCLE OF RENEWAL

PROLONGING GO FOR ITEngage in Continuous Learning

Practice Effective Stress Management Balance Your Life!

Strategic Use of Time and Money

Schedule Frequent Fun!

Reconnecting toYour Personal Values

The Importance of Valuesvalues are our personal anchors as we are tossed about in the stormy, uncertain seas of life.

values define our character and sense of self

values help to establish meaning in our lives

Your Personal Values Questions to Ponder:What is your most important personal value(s) regarding your time?

2. What is your most important personal value(s) about money?

It All Begins with a Re-evaluationof Your Purpose

Question to Ponder:What is YOUR Purpose?

Maximizing Your Limited ResourcesValues-BasedTime Management

The Time Management MatrixNot ImportantImportant[S. Covey: The Seven Habits of Highly Effective People]

UrgentNot UrgentIACTIVITIES:CrisesPressing problemsDeadline-driven projectsIIACTIVITIES:Prevention, PC activities*Relationship buildingRecognizing new opportunitiesPlanning, recreationIIIACTIVITIES:Interruptions, some callsSome mail, some reportsSome meetingsProximate, pressing mattersPopular activitiesIVACTIVITIES:Trivia, busy workSome mailSome phone callsTime wastersPleasant activities

FOCUSING ON QUADRANT I

I RESULTS:

Stress Burnout Crisis management Always putting out fires II IV

III

IVIII RESULTS:Short-term focusCrisis managementReputation-chameleon characterSee goals and plans as worthlessFeel victimized, out of controlShallow or broken relationshipsFOCUSING ON QUADRANT III

I II

IIIRESULTS:Total irresponsibilityFired from jobsDependent on others or institutions for basicsIIIIVFOCUSING ON QUADRANTS III AND IV

I, III, IVIIRESULTS: Vision, perspective Balance Discipline Control Few crisesFOCUSING ON QUADRANT II

Questions to Ponder about TimeDo you know how all of your 168 hrs/wk are spent?

Are you happy with your time allocation?

Do you spend your time in alignment with your values?

If you could change one thing about your schedule, what would it be?

Maximizing Your Limited Resources

Values-BasedMoney Management

Questions to Ponder:What are your basic values around money?

Are your expenses less than your income? Are you sure?

What are your short/long term money goals?

Are you on track to succeed with them?

Is your family protected with a will, trust, and a durable power of attorney for health care?

Designing Your

Time /Money Management Plan

The Dali Lama on Man

When asked what surprised him most about humanity, the Dali Lama said,

Man. Because he sacrifices his health in order to make money. He sacrifices money to recuperate his health. He is so anxious about the future that he does not enjoy the present. The result being that he does not live in the present or the future. He lives as if he is never going to die, and then dies having never fully lived.

PETER S. MOSKOWITZ, M.D.EXECUTIVE DIRECTORCENTER FOR PROFESSIONAL & PERSONAL RENEWALPALO ALTO, CA

FOUNDATION FOR MEDICAL EXCELLENCEOctober 5, 2013 Maximizing Your Vital Resources:

Values-Based Time & Money Management

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