Meet Prescription Wealth
Specialized Care for Your Wealth
Physicians are unique in their financial needs. Whether you are beginning your medical journey in medical school, or are looking at full-time retirement and legacy building, or in-between, your financial needs are unique from your peers.
The Healthy Physician Foundation focuses on physician wellbeing, especially in financial wellness. The stats say it all:
- Physicians are increasingly seeing a larger part of their compensation from salary versus other types of compensation, while the number of physicians seeing compensation coming from one source decreased (AMA Benchmark Survey).
- Overall physician compensation has risen over the past six years, but when factoring in inflation, physician salaries have actually been stagnant on average (Doximity).
- Nine in ten young physicians felt somewhat or completely unprepared if a disability prevented them from practicing. (AMA)
- 23% of the medical school class of 2024 faced educational debt of $300,000 or more. (AAMC)
The Healthy Physician Foundation has partnered with multiple financial options to support your needs throughout your career. The best thing is these options can support you even if you leave the DC area (although we prefer you stay!). Learn more below about some of the ways Prescription Wealth keeps you financially healthy.
MSDC PEP 401k or Office/Individual Retirement Planning
Individual and Family Financial Planning
Contact
Olive Mitchell (202) 822-1265 or omitchell@rmbcap.com
Contract Negotiation and Salary Comparisons 
Contact Melissa Knipp at (573) 312-4467 or melissa@resolve.com
Financial Wellness Events
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2025 MSDC Annual MeetingNovember 3, 2025 6:00 PM to 9:00 PM
Riggs HotelJoin MSDC for an annual tradition - a meeting of members to share the year that's passed and look ahead to a bright future for medicine. -
From Burnout to Balance: A Financial Roadmap for the Second Half of Your CareerOctober 15, 2025 6:00 PM to 8:00 PM
Curi RMBJoin MSDC and Curi RMB as we discuss strategies for mid-to-late-career physicians to financially plan for their future. -
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Welcome Back to DC: Fall Medical Student and Early Career Physician ReceptionAugust 26, 2025 6:30 PM to 8:30 PM
Mr. Smith's of GeorgetownJoin our annual event to help get ready for a new academic year. -
Legacy Beyond The PracticeJuly 28, 2025 6:30 PM to 8:30 PM
Georgetown UniversityJoin MSDC, the Healthy Physician Foundation, and Georgetown University as we help you shape a financial legacy plan.
Envision Financial Peace of Mind For You and Your Team
What if you had a financial option that allowed you to plan for your own goals while giving your staff a new incentive to stay?
The MSDC 401k Pooled Employer Plan is a new way to give value to your office and support your financial goals. The plan is designed by financial professionals and guided by the DC physician community.
Thank you to our inaugural donors of Prescription Wealth
These individuals have contributed to this campaign to get it "up and running" and support financial wellness for the healthcare community.
Dr. Nada Mallick Ashraf
Dr. Neal Barnard
Dr. Klint Peebles
Dr. Nicole Singh
News
Today is National Financial Awareness Day
Today, August 14, is National Financial Awareness Day, a day to increase financial awareness and reflect on and plan for the financial future. Financial awareness is the first step in financial wellness, an important topic for physicians who, despite many years of training, don’t receive financial education and often incur significant debt from that training. This is why MSDC’s Healthy Physician Foundation added financial wellness to its physician wellbeing program, to help physicians and practices safeguard and grow their financial resources.
First, what is financial wellness? The U.S. Consumer Financial Protection Bureau defines financial wellness, also known as financial well-being, as “the feeling of having financial security and financial freedom of choice, in the present and when considering the future.” Elaborating on that, financial wellness is a state in which you can manage your bills and expenses, pay your debts, weather unexpected financial emergencies and plan for long-term financial goals such as building college funds and saving for retirement.
According to MSDC partner Asset Strategy Consultants, there are six components to financial wellness.
6 STEPS TOWARDS FINANCIAL WELLNESS
- Create a Budget
- Build an Emergency Fund
- Protect your Assets
- Reduce or eliminate debt
- Save and Invest
- Plan for retirement and other long-term goals
MSDC’s financial wellness program has two parts. Starting with the end in sight, MSDC helps plan for retirement through its 401(k) pooled employer plan. Contact MSDC to find out how you can participate. The second part includes financial literacy and education, through the MSDC website, member newsletter, and events. Attend a physician-moderated webinar on retirement savings challenges for women on September 12.
In closing, it can be helpful to take a wellness approach when it comes to personal finances. Just as a doctor wouldn’t think about foregoing an annual check-up, it is important to conduct a regular financial health check-up. Maintain wellbeing throughout the year by following a financial wellness plan, working to improve financial fitness, monitoring “vital signs,” and working with a trusted advisor. Remember, no organization is more committed to the long-term wellbeing of all District physicians than MSDC, which has been fighting for District physicians and the patients whom they treat since 1817.