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
Financial Planning Considerations for Early Career Physicians
While much of how your career and life goes is beyond your control, finances are surprisingly one area that does not have to be a problem. An important key is early planning. As an early career physician, time is on your side to make good, long-term financial decisions now.
Residency considerations - new career and new decisions
Going from medical student to resident involved many major life changes, many of them having long-term financial implications. Where will you live? How will you commute to your residency? How do you pay off any loans?
The AMA has five strategies to help new residents and fellows make smart financial decisions:
- Understand your income
- Create a budget
- Don't overpay your loans
- Make sacrifices
- Invest in your future
EMRA, the Emergency Medicine Residents' Association, recommends physicians-in-training focus on four areas: retirement planning; insurance; debt and cash flow management; and investment management. In an article, they recommend sub-strategies like:
- Start saving as early as possible
- Create a retirement projection
- Pay-off high interest debt
- Match investments with goals
New practice - protecting yourself and your office
Did you know nearly 9 in 10 young physicians felt somewhat or not at all protected in the event of a disability that would prevent them from practicing, according to the AMA 2015 Report on Young Physicians' Financial Preparedness? Regardless of your practice type, it is important to be as smart about your own money as you are about your practice's.
5 Financial Planning Tips Every Young Physician Should Know
Top 6 Financial Planning Mistakes Physicians Make
If you want to learn more about personal finance or speak to someone for a more personalized approach, visit Prescription Wealth.