Author: Joel Schofer, MD, MBA, CPE

Prepare for a Long Life

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Jonathan Clements was a longtime personal finance columnist for The Wall Street Journal, and he offers great advice at the best price you can get (free) on his blog Humble Dollar. Here is one piece of advice from his site:

PREPARE FOR A LONG LIFE. For a quick gauge of your life expectancy, try Social Security’s calculator. For an in-depth look, use this calculator built on academic research. What will you learn? First, the longer you live, the longer you can expect to live. Second, lifespans vary widely—with educated, health-conscious Americans living three or four years longer than average.”

According to the Social Security calculator above, I’ll live for 81.7 years. According to the in-depth calculator, I’ll live 87.09 years.

What’s the point of all this? Plan for a long retirement by starting to save for retirement now. My grandparents all lived into their late 80s or 90s, so I’ll hopefully outlive these estimates. You might too. And if you have a military pension, you won’t run out of money.

I also wondered if people in the military live longer. Here’s an article that says yes, they do, especially women:

Results

Overall, 67.9 % of RMPs lived longer than average relative to their sex-specific birth cohort. This difference in life expectancy was more pronounced among women than among men.

Dermatology Program Director at NMRTC San Diego

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PD and ACGME requirements:

Seeking applicants for the position of Dermatology Residency Program Director to begin in August 2021. The successful candidate will be an O-4 to O-6 Medical Corps Officer, who is an articulate clinical leader with a strong academic and scholarly activity foundation. In addition, the candidate will collaborate effectively with the Department Head for Dermatology and command leadership to lead and develop a faculty team committed to operational readiness, patient safety, and excellence in graduate medical education at NMRTC-SD.  To apply or with questions, please electronically submit a letter of intent and a current CV endorsed by your chain of command and Detailer, no later than 15 March 2021 to Mr. Michael D. Simons (contact in the global).  Interviews will be conducted in April 2021.

HEDIS Working Group DHA Committee Members Needed

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DHA is currently looking for motivated providers in Family Medicine, Internal Medicine, Pediatrics, and/or Nursing from all three Services to serve on a newly formed working group within the Primary Care Clinical Community. The HEDIS Working Group will identify patient-centered, evidenced-based improvement initiatives that directly lead to improved patient outcomes, then collaborate on their implementation across the Enterprise.  Essentially, they want to find which HEDIS metrics make the biggest difference to patients’ health, then determine how to best implement leading practices at the clinic level that ultimately lead to improved health outcomes reflected in the HEDIS metrics.  Ideal candidates should have an interest in HEDIS metrics, process improvement, and provider/patient education.

Group goals include meeting at least one to two times per quarter (over Microsoft Teams or the currently approved video conference platform) to identify metrics of interest, work with MTF HEDIS Champions to identify commands leading and struggling at identified metrics, identify leading practices to implement chosen metrics, and then promulgate to the MTFs with further reassessment to analyze success in outcomes and sustainment.  Interested individuals or anyone with questions should contact CDR Kathleen M. Donahue (contact in the global) by 26 Feb 2021. 

Calculate Your Required Nest Egg

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Jonathan Clements was a longtime personal finance columnist for The Wall Street Journal, and he offers great advice at the best price you can get (free) on his blog Humble Dollar. Here is one piece of advice from his site:

CALCULATE YOUR REQUIRED NEST EGG. Once retired, you’ll likely have Social Security and perhaps a traditional employer pension. How much additional income will you need for a comfortable retirement? This money will need to come from savings. Take your desired portfolio income, multiply by 25—and you’ll have an estimate for how big a nest egg you need.”

If you stay in for 20 years or more, you’ll have a pension. That pension is very valuable and will greatly reduce the size of your required nest egg. Let’s say you think you need $120,000 per year to retire and you think that between your military pension and Social Security you’ll net $60,000 per year. That leaves another $60,000 you’ll need to generate from your retirement nest egg.

Using Mr. Clements rule above, just take the $60,000 and multiply it by 25, showing that you need to save approximately $1,500,000 to generate the extra $60,000 of retirement income.

150th Medical Corps Birthday Challenge Coin Design Competition

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In anticipation of the 150th Medical Corps Birthday, we are looking to design a new challenge coin. Please submit your designs to LCDR Jennifer Eng-Kulawy (e-mail address on the image below) and the winner will be named at the virtual birthday celebration (more information to come). We are looking for innovative designs and we’re excited to see the creativity that our Corps has to offer.