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Maximizing
Your Vital Resources:
Values-Based
Time & Money Management
PETER S. MOSKOWITZ, M.D.
EXECUTIVE DIRECTOR
CENTER FOR PROFESSIONAL & PERSONAL RENEWAL
PALO ALTO, CA

Foundation for Medical Excellence
October 5, 2013
Disclosure Statement
• Peter S. Moskowitz, M.D. reports he
has no relevant financial relationship
with any commercial entity, other than
his own consulting business, that
provides products or services relevant
to this presentation.
Maximizing Your Vital Resources

Learning Objectives
At the conclusion of this presentation physicians will:
1. Address personal values surrounding time allocation.
2. Assess current personal time allocation.
3. Clarify personal values surrounding money allocation.
4. Evaluate current personal wealth management.
STRATEGIES FOR
PERSONAL RENEWAL
• Assess Values and Purpose Annually
• Institute Personal Wellness
- Healthy Diet
- Regular Aerobic Exercise
- Consistent Sleep
- Preventative Medicine
- Regular Fun
• Manage Your Stress Effectively (healthy coping)
• Balance Your Life
• Develop a Support Network
• Manage Your Time and Money Strategically
• Build Good Communication Skills
Copyright CPPR 2012

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Working women often struggle to maintain a healthy balance between their work life and personal life. Stress is caused by taking on too many responsibilities and not having enough downtime. It is important to find ways to integrate work and personal commitments instead of viewing them as separate spheres. Techniques for maintaining balance include setting boundaries, dropping unnecessary commitments, prioritizing self-care activities like exercise and hobbies, building a support system, and learning to say no. Both short-term goals and long-term life priorities should be considered when making choices about how to spend time and energy.

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Why the Fuss about Time & Money?
•
•
•
•

Both can be sources of great stress
Good management required for renewal
Docs tend to have poor coping skills
Life & practice conditions, effecting time
and money, are changing rapidly
• The New Rules
PHYSICIAN COPING SKILLS
• Work Harder
• Work Harder
• Work Harder
• Bitch, Bitch, Bitch
• Hope Things Change
• Isolate
Copyright CPPR 2012
CHANGING
CAREER / LIFE EXPECTATIONS
• The Burden of Educational Debt
• The Cost of Home Ownership
• The Desire for a Balanced Life
• New Work Options
• Transitions to Non-Clinical Careers
The Old Rules
vs
The New Rules
• The Linear Rule

• The Circular Rule

• The Outside-In Rule

• The Inside-Out Rule

• Learning Is Just For

•

Kids Rule

Learning Isn’t Just For
Kids Rule

• The Steady State Rule • Endless Change Rule
Copyright CPPR 2012

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The Linear Rule
PROGRESS
Be honest and
work hard and

HAPPINESS

you will
experience…

SECURITY
SUCCESS
The Circular Rule
A CHAPTER OF
YOUR LIFE

NEW
BEGINNING

External Change
• Dreams & Plans
• Accomplishments
• Decline & Discord
Internal Renewal
• Healing
• New Goals & Purpose
• Training

ENDING

A LIFE
TRANSITION
BETWEEN
CHAPTERS
The Outside-In Rule
Family

Voluntary
Community,
Church

YOU

Groups,
Professional
Associations,
National Roles

Work, Career
The Inside-Out Rule
Winning at Life
Works Best from the
INSIDE-OUT

Family

Voluntary
Community,
Church

YOU

Groups,
Professional
Associations,
National Roles

Work, Career

Global Roles
and Citizenship

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The Steady-State Rule
Childhood

Adulthood

Work + Love creates progress,
reaching self-perpetuating
levels of happiness, success,
and security that get better and
better with time.
The Endless Change Rule
Young Adulthood

Midlife

Elderhood
The CYCLE OF RENEWAL
A Model of
Life and Career Change
THE CYCLE OF RENEWAL
A LIFE CHAPTER

The
Heroic
Self

PHASE 1
GO FOR IT

PHASE 2
THE DOLDRUMS

The
Disenchanted
Self

MINITRANSITION
RESTRUCTURE YOUR CHAPTER

The
Passionate
Self

PHASE 4
GETTING READY

PHASE 3
COCOONING

A LIFE TRANSITON

The
Inner
Self

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•
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character
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• Shallow or broken
relationships

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Maximizing
Your Vital Resources:
Values-Based
Time & Money Management
PETER S. MOSKOWITZ, M.D.
EXECUTIVE DIRECTOR
CENTER FOR PROFESSIONAL & PERSONAL RENEWAL
PALO ALTO, CA
FOUNDATION FOR MEDICAL EXCELLENCE

October 5, 2013

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  • 1. Maximizing Your Vital Resources: Values-Based Time & Money Management PETER S. MOSKOWITZ, M.D. EXECUTIVE DIRECTOR CENTER FOR PROFESSIONAL & PERSONAL RENEWAL PALO ALTO, CA Foundation for Medical Excellence October 5, 2013
  • 2. Disclosure Statement • Peter S. Moskowitz, M.D. reports he has no relevant financial relationship with any commercial entity, other than his own consulting business, that provides products or services relevant to this presentation.
  • 3. Maximizing Your Vital Resources Learning Objectives At the conclusion of this presentation physicians will: 1. Address personal values surrounding time allocation. 2. Assess current personal time allocation. 3. Clarify personal values surrounding money allocation. 4. Evaluate current personal wealth management.
  • 4. STRATEGIES FOR PERSONAL RENEWAL • Assess Values and Purpose Annually • Institute Personal Wellness - Healthy Diet - Regular Aerobic Exercise - Consistent Sleep - Preventative Medicine - Regular Fun • Manage Your Stress Effectively (healthy coping) • Balance Your Life • Develop a Support Network • Manage Your Time and Money Strategically • Build Good Communication Skills Copyright CPPR 2012
  • 5. Why the Fuss about Time & Money? • • • • Both can be sources of great stress Good management required for renewal Docs tend to have poor coping skills Life & practice conditions, effecting time and money, are changing rapidly • The New Rules
  • 6. PHYSICIAN COPING SKILLS • Work Harder • Work Harder • Work Harder • Bitch, Bitch, Bitch • Hope Things Change • Isolate Copyright CPPR 2012
  • 7. CHANGING CAREER / LIFE EXPECTATIONS • The Burden of Educational Debt • The Cost of Home Ownership • The Desire for a Balanced Life • New Work Options • Transitions to Non-Clinical Careers
  • 8. The Old Rules vs The New Rules • The Linear Rule • The Circular Rule • The Outside-In Rule • The Inside-Out Rule • Learning Is Just For • Kids Rule Learning Isn’t Just For Kids Rule • The Steady State Rule • Endless Change Rule Copyright CPPR 2012
  • 9. The Linear Rule PROGRESS Be honest and work hard and HAPPINESS you will experience… SECURITY SUCCESS
  • 10. The Circular Rule A CHAPTER OF YOUR LIFE NEW BEGINNING External Change • Dreams & Plans • Accomplishments • Decline & Discord Internal Renewal • Healing • New Goals & Purpose • Training ENDING A LIFE TRANSITION BETWEEN CHAPTERS
  • 12. The Inside-Out Rule Winning at Life Works Best from the INSIDE-OUT Family Voluntary Community, Church YOU Groups, Professional Associations, National Roles Work, Career Global Roles and Citizenship
  • 13. The Steady-State Rule Childhood Adulthood Work + Love creates progress, reaching self-perpetuating levels of happiness, success, and security that get better and better with time.
  • 14. The Endless Change Rule Young Adulthood Midlife Elderhood
  • 15. The CYCLE OF RENEWAL A Model of Life and Career Change
  • 16. THE CYCLE OF RENEWAL A LIFE CHAPTER The Heroic Self PHASE 1 GO FOR IT PHASE 2 THE DOLDRUMS The Disenchanted Self MINITRANSITION RESTRUCTURE YOUR CHAPTER The Passionate Self PHASE 4 GETTING READY PHASE 3 COCOONING A LIFE TRANSITON The Inner Self
  • 17. PROLONGING “GO FOR IT” • Engage in Continuous Learning • Practice Effective Stress Management Balance Your Life! • Strategic Use of Time and Money • Schedule Frequent Fun!
  • 19. The Importance of Values • values are our personal anchors as we are tossed about in the stormy, uncertain seas of life. • values define our character and sense of self • values help to establish meaning in our lives
  • 20. Your Personal Values Questions to Ponder: 1. What is your most important personal value(s) regarding your time? 2. What is your most important personal value(s) about money?
  • 21. It All Begins with a Re-evaluation of Your Purpose
  • 22. Question to Ponder: What is YOUR Purpose?
  • 25. The Time Management Matrix Not Important Not Urgent I II ACTIVITIES: Crises Pressing problems Deadline-driven projects ACTIVITIES: Prevention, PC activities* Relationship building Recognizing new opportunities Planning, recreation III Important Urgent IV ACTIVITIES: Interruptions, some calls Some mail, some reports Some meetings Proximate, pressing matters Popular activities ACTIVITIES: Trivia, busy work Some mail Some phone calls Time wasters Pleasant activities [S. Covey: The Seven Habits of Highly Effective People]
  • 26. FOCUSING ON QUADRANT I I RESULTS: II IV • • • • III Stress Burnout Crisis management Always putting out fires
  • 27. FOCUSING ON QUADRANT III I III RESULTS: • Short-term focus • Crisis management • Reputation-chameleon character • See goals and plans as worthless • Feel victimized, out of control • Shallow or broken relationships II IV
  • 28. FOCUSING ON QUADRANTS III AND IV I II III IV RESULTS: • Total irresponsibility • Fired from jobs • Dependent on others or institutions for basics
  • 29. FOCUSING ON QUADRANT II I, III, IV II RESULTS: • Vision, perspective • Balance • Discipline • Control • Few crises
  • 30. Questions to Ponder about Time • Do you know how all of your 168 hrs/wk are spent? • Are you happy with your time allocation? • Do you spend your time in alignment with your values? • If you could change one thing about your schedule, what would it be?
  • 32. Questions to Ponder: • What are your basic values around money? • Are your expenses less than your income? Are you sure? • What are your short/long term money goals? • Are you on track to succeed with them? • Is your family protected with a will, trust, and a durable power of attorney for health care?
  • 33. Designing Your Time /Money Management Plan
  • 35. The Dali Lama on Man When asked what surprised him most about humanity, the Dali Lama said, “Man. Because he sacrifices his health in order to make money. He sacrifices money to recuperate his health. He is so anxious about the future that he does not enjoy the present. The result being that he does not live in the present or the future. He lives as if he is never going to die, and then dies having never fully lived.”
  • 37. Maximizing Your Vital Resources: Values-Based Time & Money Management PETER S. MOSKOWITZ, M.D. EXECUTIVE DIRECTOR CENTER FOR PROFESSIONAL & PERSONAL RENEWAL PALO ALTO, CA FOUNDATION FOR MEDICAL EXCELLENCE October 5, 2013