GO PAC GO Q1 ends and Q2 is off and running

The first quarter of our GO PAC GO fundraising effort wrapped up on Saturday with a tie for MVP between Don Lee, MD, District 1 and Paul Wertsch, MD, District 2. Thank you and congratulations to these two physicians for leading the WISMedPAC contributions and to everyone who contributed to the total! Congratulations to District 1 for winning the first quarter!

The second quarter kicked off on Sunday while the Packers were defeated by the Falcons. Don’t let their loss influence the importance of running up scores with our “game” this week. Currently in the middle of Q2, Tom Joles, MD, District 7 is leading his team for Q2 MVP, but there are still a few days left for you to get in the game (Q2 ends on Saturday).

You can help your District team and the Wisconsin Medical Society’s WISMedPAC by contributing today. We’re not quite to halftime yet. It’s so easy to contribute here and become part of the team – your Wisconsin Medical Society – that advocates on behalf of you and your patients. Every dollar helps with this effort.

If you’re still on the bench and would like to learn more about what the WISMedPAC does, give Heidi Green a call at 608.358.6116. Thank you and GO PAC GO!

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Board policy actions open to member feedback on Friday

The Wisconsin Medical Society (WisMed) Board of Directors recently acted on five policy proposals that had been submitted through the WisMed PolicyLink platform. Members will be able to weigh in on those decisions via advisory referendum starting Friday, September 22.

The topics of those proposals include:

• Advancing Weight-Inclusive Healthcare and Health Education
• Opposing Abortion Care Restrictions in Wisconsin
• Prohibiting Adolescent Access to Indoor Tanning
• Improving Access to Menstruation and Feminine Hygiene Products
• Updating WisMed’s policy related to Firearm Possession and Safety

Members can provide an advisory “thumbs-up” or “thumbs-down” on the Board’s conclusions – a process ensuring physicians across the state have ample opportunity to weigh in with their opinions. This policy cycle’s advisory period will run from Friday, September 22 through the close of business on Friday, September 29.

To participate in the comment period:

1. Visit policylink.wismed.org
2. Login with your WisMed username and password*
3. Click “Comment on Proposal” in the top menu
4. Select “Vote on Board Action”
5. Click on a blue proposal title – you will see the original proposal, the Policy Review Committee’s recommendation and the Board action
6. When ready, click on agree, disagree, or neutral in regards to the Board's action and submit any comments if desired in the text box
7. Click “Submit Comment” button at the bottom of the page

Have a policy that you want to submit for consideration?

Members have perpetual access to submitting their own policy proposals, 24/7/365. While in PolicyLink click on “Submit Proposal” (in the menu bar at the top of the page) and enter your proposed policy. Policies submitted during this period will fall into the next submission funnel to be posted on November 17, 2023.

Contact WisMed Chief Policy and Advocacy Officer Mark Grapentine, JD for more information.

*PolicyLink requires your WisMed username and password. Click here to retrieve your username or password, or call 866.442.3800 or email membership@wismed.org for assistance.

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What matters most to improve health – take the Foundation County Survey

At the Wisconsin Medical Society Foundation (Foundation) we have one goal: a healthy Wisconsin. We believe that begins by listening to Wisconsin physicians who are on the front lines in their communities. You know which forces are impacting your patients’ health. You know the local programs that are serving the gaps that can’t be addressed in the clinic. You see the challenges faced by your fellow physicians and care support teams. The Foundation depends on input from physicians across the state to inform our decisions regarding how and where to invest resources to achieve our goal. Please take a few minutes to complete the annual Foundation County Survey.

Working with the Wisconsin Medical Society, we are responding to those things that are most critical to you and your patients, but we need to hear from you to do that. The survey is your opportunity to share your concerns regarding community and patient health, workforce issues and your thoughts on organized medicine.

We hope you’ll complete the survey and encourage your colleagues to participate as well. We need to hear from physicians in every stage of their careers, every part of the state and every area of practice. Your responses will have a direct impact on which community organizations are invited to apply for Foundation Grants and where the Foundation and Society focus energy to support the needs of our physician workforce. If you would prefer to do your survey by phone or in person, or if you have questions, please contact Elizabeth Ringle at elizabeth.ringle@wismed.org.

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Physician license renewal update

It’s time for physician license renewal. The Wisconsin Department of Safety and Professional Services (DSPS) notification process is online, via LicensE, and instructions can be found here. Physicians will need to be certain that their profile contains a valid email address to ensure they receive accurate and timely information from DSPS. 

Earlier this week, the Medical Examining Board (MEB) sent a notice regarding a change to Continuing Medical Education and Controlled Substances Prescribing adopted by the MEB on August 16, 2023. This rule will be effective on October 1, 2023, in time for the current 2021-2023 CME reporting period. The MEB has created additional options and flexibility for obtaining CME with this new rule.

First, the rule provision requiring that two required CME hours relate to responsible opioid prescribing has been expanded to include courses or programs concerning controlled substances in general, and not just opioid controlled substances. This rule also aligns with the standards adopted for program approval by the Drug Enforcement Administration (DEA) to fulfill their 8-hour requirement.

Second, the Board removed the requirement that CME related to opioid prescribing or controlled substances be preapproved by the MEB. By eliminating it, the Board is reducing red tape and increasing options for physicians to take CME that is appropriate and useful to their practice while still aligning with the Board’s values and standards.

Third, the rule removes a sunset provision in the former rule, so the new two-hour requirement is permanent going forward. Note: The 30 CME hours total, required over the two-year license period, remains at 30 hours.

The Wisconsin Medical Society offers controlled substances prescribing CME at a discounted rate for our members, courses can be found here. Thank you for your service and dedication to the citizens of Wisconsin.

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The power of planning: a physician’s journey to financial wellness

With uncertainties and change a constant, financial planning stands as a beacon of security and peace of mind. Today, we bring you a remarkable story that sheds light on how a dedicated physician and her family reaped the rewards of a well-structured financial plan, proving that even the busiest of physicians can find stability and fulfillment through proper financial planning.

Meet Sarah Thompson, MD (name changed for confidentiality), known for her compassionate care and unwavering commitment to her patients. Outside the exam room, however, Dr. Thompson faced the same financial challenges that many of us do – managing student loans, planning for retirement and ensuring her family’s future stability.

The Initial Challenge

Upon completing her medical education, Dr. Thompson was burdened with significant student loan debt. Balancing her medical practice while managing these loans was no easy feat. She often found herself conflicted between her passion for healing and the pressure of financial obligations. As her family grew, so did her responsibilities, making her realize the need for a comprehensive financial plan.

The Turning Point: Seeking Professional Guidance

Dr. Thompson decided to take a proactive step and sought the guidance of a Certified Financial Planner™ Professional. This move marked a turning point in her journey towards financial wellness. The financial planner analyzed her situation, considering her income, expenses, outstanding loans and future goals. They collaboratively created a customized plan that addressed her specific needs, aligning her financial strategy with her life aspirations.

The Plan in Action

• Debt Repayment Strategy: The financial planner helped Dr. Thompson switch to her ideal repayment plan for her student loans. She made consistent progress in reducing her debt without compromising her family’s daily needs.
• Investment and Retirement Planning: With a steady income and a solid debt repayment plan in place, Dr. Thompson could now focus on long-term financial security. The financial planner introduced her to a diversified investment portfolio and guided her through retirement planning, ensuring she could enjoy her retirement years without financial stress. “In my experience, those who save smaller amounts consistently tend to save more over time than those who try to save everything at once,” Mark Ziety, CFP, founder of WisMed Financial notes in this CBS News article.
• Family Protection: Recognizing the importance of safeguarding her family’s future, Dr. Thompson also secured:
  •  life insurance
  • disability insurance
  • estate documents
  • college accounts
  • an emergency fund

This provided a safety net in case of unforeseen circumstances and offered peace of mind to her and her loved ones.

• Tax Strategy: The largest lifetime expense for physicians is often taxes, and Dr. Thompson was no exception. Through yearly tax strategy, her deductions were maximized and taxable income shifted to save hundreds of thousands of dollars of lifetime tax.

The Outcome: A Life Transformed

As the years went by, Dr. Thompson’s commitment to her financial plan began to yield remarkable results. She saw her debt steadily decrease, her investments grow and her family thrive with the knowledge that their future was secure. This transformation didn’t just impact her financial health – it positively influenced her overall well-being. The reduction of financial stress allowed her to focus more on her patients, her family and even take time for her own personal growth and hobbies.

Key Takeaway

Dr. Thompson’s story is typical for physicians and underscores the incredible potential that a well-crafted financial plan holds. Regardless of your profession or life circumstances, careful financial planning can pave the way to stability, allowing you to navigate challenges with confidence and pursue your dreams without compromise.

For personalized help eliminating debt, investing smart and securing retirement, please contact Mark Ziety, CFP®, AIF® 608.442.3750.

Mark Ziety, CFP®, AIF®

WisMed Financial, Inc. part of the Wisconsin Medical Society

Originally posted August 14, 2023 in the Antidote

Note: This article is for informational purposes only and should not be considered as financial or tax advice. Please consult with a qualified financial advisor or tax professional before making any financial decisions. Full disclosures.

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Latest issue of WMJ explores infectious disease in the Midwest

From a pediatric case of Q fever to cases of West Nile virus presenting with ocular symptoms and leprosy with no known exposure or travel to endemic areas, a series of reports in this issue of WMJ explores some of the myriad infectious diseases that affect patients in the Midwest.

Read the full issue here.

Subscribe to WMJ and submit a manuscript here.

WMJ (the Wisconsin Medical Journal) is a peer-reviewed, indexed, scientific journal published quarterly and online ahead of print each month.

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