Ep 280: NHS Pension is broken, here’s how to fix it.
Resources to help:
https://youtu.be/ZHSBcGyycMI?si=vkQDr5FRb9O8JmAE
https://youtu.be/9Q3O34IapOE?si=2vMbNifmaACFaRgj
https://youtu.be/AngBbipPGCM?si=bFUPyJgLXM3YySqZ
Reforming the NHS Pension System: A Manifesto for Change
In this episode, the hosts discuss the current issues plaguing the NHS pension system, particularly for General Practitioners (GPs). They detail the problems with missing contributions, incorrect paperwork, and bureaucracy that have caused many to lose faith in the scheme. The discussion is joined by Andy Powell, an independent medical accountant and NHS pensions expert. Together, they propose a manifesto outlining several reforms, including producing forms earlier, abolishing the GP Solo system, automating data entry, regular updates between departments, and simplifying the annualization process. They also touch upon the necessity for a one-off investment to streamline the system. Additionally, they provide resources and courses for GPs to better navigate the current pension system.
00:00 Introduction to the GP Pension Crisis
00:21 Presenting the Manifesto for Change
00:52 Meet the Expert: Andy Pow
01:08 Current State of GP Pension Records
01:43 The Annual Return Process
02:12 Challenges with PCSE and Systemic Issues
03:09 Complexity of Pension Forms
05:19 Proposed Solutions: Early Form Availability
05:39 Abolishing GP Solo
06:43 Automating the Pension System
08:33 Regular Updates Between PCSE and NHSBSA
09:48 The Issue of Annualization
12:50 Investing in System Improvements
15:03 Resources to Navigate the System
16:34 Final Thoughts and Additional Suggestions
17:34 Conclusion and Call to Action
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Ep 279: Family Finance Essentials: Understanding Parental Leave for Medics
Navigating Maternity, Paternity, and Shared Parental Leave for Medics In this episode of the Medics' Money podcast, Cyra and Matthew delve into the complexities of family financial planning specific to healthcare professionals. They discuss various types of leave available for working parents in the medical field, including maternity, paternity, and shared parental leave. Cyra, a doctor and chartered accountant, offers an in-depth explanation of entitlements, occupational versus statutory leave, and the nuances of shared parental leave. The episode is a guide for medics to understand their rights and plan financially for family life. Topics include risk assessments, rights to pay rises, and annual leave accrual during parental leave.
00:00 Introduction to Financial Family Planning
00:24 Meet Cyra: Doctor and Chartered Accountant
01:55 Understanding Occupational Rights During Pregnancy
06:45 Navigating Maternity Leave
14:41 Statutory Maternity Leave and Pay
17:25 Understanding Maternity Allowance
18:00 Maternity Allowance for Self-Employed Individuals
19:42 Maximising Your Maternity Allowance
20:43 Maternity Pay for Salaried GPs
21:40 Recap of Maternity Pay Tiers
23:15 Introduction to Paternity Leave
24:25 Eligibility and Details of Paternity Leave
26:31 Adoption Leave Explained
28:10 Shared Parental Leave: An Overview
30:59 Maximising Shared Parental Leave Benefits 3
6:38 Conclusion and Next Steps
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Ep 278: Reimagining Patient Consultations with AI: The Heidi Experience
In this episode of the Medics' Money podcast, Dr. Tommy Perkins talks with Dr. Hannah Allen, the Chief Medical Officer for Heidi, about her journey from clinical practice to health tech. Dr. Allen shares her experiences with using AI in healthcare, particularly the Heidi platform, which assists doctors by automating consultation notes and referral letters, thus saving time and improving efficiency. She discusses the benefits and challenges of integrating AI in medical practice, including accuracy and data privacy concerns. The conversation also explores the future of AI in healthcare and offers practical advice for clinicians looking to transition into health tech roles. Listeners are encouraged to try Heidi for free and provide feedback to improve the platform.
00:00 Introduction to Dr. Hannah Allen's Journey
01:26 Welcome to the Medics Money Podcast
01:48 From Doctor to Chief Medical Officer
02:09 Early Career and Initial Challenges
03:44 Venturing into Health Tech
05:19 Founding Tinto: A Digital Health Startup
08:12 Joining Heidi and Initial Impressions
10:13 The Impact of AI Scribes in Healthcare
11:43 How Heidi Enhances Medical Practice
17:43 Addressing Common Concerns About AI in Healthcare
27:38 Future of AI in Healthcare
34:03 Advice for Aspiring Health Tech Professionals
39:16 Conclusion and Final Thoughts
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Ep 277: Streamlining Healthcare: Lexacom's Impact on Modern Medical Practices
Book a demonstration here.
In this episode of the Medics' Money Podcast, Tommy welcomes Dr. Andrew Whiteley, the founder of Lexacom, a widely-used health tech product. They discuss the origins of Lexacom, the challenges faced during its development, and the innovative features of its new version. Dr. Whiteley demonstrates Lexacom's capabilities, including streamlined email dictation, patient visit documentation via mobile, and AI-driven workflow enhancements. Ideal for GPs and hospital doctors, Lexacom aims to save time on administrative tasks and improve patient care. Watch the live demo to see Lexacom in action and learn how to integrate it into your practice.
00:00 Introduction and Guest Welcome
00:43 The Origin Story of Lexacom
03:55 Challenges and Growth of Lexacom
09:36 Innovations and New Features of Lexacom
11:58 Live Demonstration of Lexacom's Capabilities
27:07 Data Security and Privacy Measures
30:08 Conclusion and Final Thoughts
DISCLAIMER: This channel is for education purposes only and does not constitute financial advice and tax allowances and rates are subject to change.
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Ep 276: Living above a takeaway to $15million founder
In this episode of the Medics' Money podcast, Dr. Shun Pang, co-founder of Anima Health, shares his inspirational journey from a 7-year-old immigrant from China to founding Europe's fastest-growing health tech company. He discusses his experiences in medicine, the challenges he faced, and what prompted him to transition into the tech industry. Dr. Pang elaborates on the potential impact of AI in healthcare over the next 10-15 years and highlights the importance of resilience, first-principles thinking, and a growth mindset for success. This conversation also provides valuable insights for doctors interested in transitioning to health tech.
00:00 Introduction: The Journey Begins
00:07 Founding Anima: The Seed of Conviction
00:30 Anima's Rapid Growth and Recognition
01:17 Shun Pang's Early Life and Challenges
01:54 Educational Path: From Grammar School to Cambridge
06:45 The Struggles and Failures Along the Way
09:57 The Birth of Anima: A Turning Point
15:03 Overcoming Obstacles: The Road to Success
25:36 Reflections on Resilience and Being an Underdog
28:02 The Role of Childhood Trauma in High Performance
29:07 Frameworks for Tackling Massive Challenges
29:34 First Principles Decomposition Explained
33:45 The Future of AI in Healthcare
45:51 Transitioning from Medicine to Health Tech
56:57 Advice for Aspiring Health Tech Innovators
The Medics’ Money podcast helps doctors, dentists and other professionals make better financial decisions. Hosted By Dr Tommy Perkins and Dr Ed Cantelo, who is not only a doctor but also a Chartered Accountant and Tax adviser.
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