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
From Labor to Retirement In One Week
Today is 401(k) Day, an annual reminder of the value of retirement savings through 401(k) plans. Every year, the Friday after Labor Day is dedicated to 401 (k)s because Americans start the week focused on work and end the week focused on retirement.
Physicians labor long hours for their income and financial wellbeing. MSDC’s Healthy Physician Foundation is dedicated to ensuring continued financial wellbeing for physicians, practice staff, and their families. To help ensure financial peace of mind, MSDC created the Pooled Employer Program and a 401 (k). Find out about the 401(k) by contacting MSDC EVP Robert Hay at hay@msdc.org.
On a day dedicated to retirement, it’s worth noting a couple of common mistakes physicians make when it comes to finances. Below are mistakes to avoid.
Mistakes to Avoid
Mistake #1 = Trying to manage finances on your own.
Just as a patient needs physician expertise to stay healthy, a physician needs finance expertise to stay financially well. A 401(k), established through your employer, is an ideal way to outsource your retirement planning. MSDC has long trusted Asset Strategy Consultants [link] for its financial management.
Mistake # 2 = Not adopting a “wellness approach” when it comes to personal finances.
Once you have retirement accounts set up, re-evaluate your plan at healthy intervals. While daily stock market checks are excessive for most people, an annual or quarterly financial “check-up” helps ensure financial management and prevent surprises. If your finances require triage and more regular testing, it may help to consult an expert.
Mistake #3 = Waiting until the right time.
Physician schedules are hectic, and the so-called “right time” may never come. What better time to plan for your future financial wellbeing than today, 401 (k) Day?
MSDC is committed to the financial wellbeing of you and your practice. Don’t hesitate to contact MSDC EVP Robert Hay to learn how we can help.
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