BOHL HELPS BRIDGE GAP BETWEEN BUSINESS AND PRACTICE OF MEDICINE
Hartland-based lifestyle advisor introduces “opportunity cost” in Doctor’s Digest
HARTLAND, Wis. – Society is making lots of financial concessions as a faltering economy continues to challenge lifestyles, but in the case of physicians, time is also a premium that requires planning.
In this month’s Doctor’s Digest (http://www.doctorsdigest.net) periodical, which focuses on Time Management, lifestyle advisor, David Bohl (http://www.slowdownfast.com), introduces the concept of “opportunity cost,” a theory that states that in most cases, to have one thing you must give up another.
A former venture capitalist, Bohl knows the value of concession when it comes to time. “[Understanding] opportunity cost is about making better decisions,” Bohl said in the Doctor’s Digest section entitled, “Making the Most of Your Off-Hours.” “In this hour, if I don’t do ‘this,’ then I’ll have that hour to spend with my family.”
An example illustrated by Bohl’s theory is when a doctor’s son wants him to coach a soccer team but the doctor has agreed to work with two colleagues on an important research project.
“Take a look at your commitments,” Bohl said in the article. “Do I really have to be on this board?”
Bohl said that whether it’s a physician or sanitation engineer, a person’s skills may be valuable to his or her peers, but one has to live according to his own values to make time decisions.”
Karen Childress wrote the January/February 2009 issue of Doctor’s Digest: Time Management. A bi-monthly publication, Doctor’s Digest focuses on single-topic, non-clinical issues that face physicians. It is recognized by major medical schools, universities and physician organizations for its cutting edge practice management information and is included in curricula and disseminated to practicing physicians, students and associations.
Also a Must-Read: Understanding Opportunity Costs Leads to Better Decisions