PETER S. MOSKOWITZ, M.D.EXECUTIVE DIRECTOR

CENTER FOR PROFESSIONAL & PERSONAL RENEWAL

PALO ALTO, CA

Foundation for Medical ExcellenceOctober 6, 2012

Maximizing Your Vital Resources:

Values-Based Time & Money Management

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 personal time allocation.

3. Clarify personal values surrounding money allocation. 4. Evaluate personal wealth management.

What is Your Career “APGAR”1. I am satisfied with my commitment to personal growth.

2. I have a strategy for dealing with career change.

3. I am satisfied that may career and life priorities are mine only and reflect my current values.

4. I am satisfied with the way I use my 168 hours/week.

5. I have a financial plan which reflects my goals.

6. I have balance between work and my private life.

7. I practice an effective stress management routine.

8. I know my personal purpose and values.

9. I have an effective mentor and support network.

10.I do not feel stuck in my life or career.Modified from: J.H. Pfifferling, Ph.D.

1 point for every “Yes” answer

0 point for every “No” answer

Add total points to get total APGAR SCORE

SCORE OF 9-10:

SCORE OF 6-8:

SCORE OF 5 or less:

High Level of Career Wellness

Significant Imbalances / Stress

Your Life and Career are in ChaosSeek Professional Help

Scoring Your Career “APGAR”

Modified from: J.H. Pfifferling, Ph.D.

Why the Fuss about Time & Money?

• Both can be sources of great stress

• Good management required for renewal

• Docs don’t have great stress toolboxes

• Life & practice conditions, effecting time and money, are changing rapidly

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

The Old Rules vs

The New Rules  

• The Linear Rule

• The Outside-In Rule

• Learning is just for

kids Rule

• The Steady State

Rule

• The Circular Rule

• The Inside-Out Rule

• Learning isn’t just for

kids Rule

• Endless Change Rule Copyright CPPR 2012

The Linear Rule

Be honest and

work hard and

you will

experience…

PROGRESS

HAPPINESSHAPPINESS

SECURITYSECURITY

SUCCESSSUCCESS

The Circular RuleA CHAPTER OF

YOUR LIFE

NEW BEGINNING

External ChangeExternal Change• Dreams & PlansDreams & Plans

• AccomplishmentsAccomplishments• Decline & DiscordDecline & Discord

Internal RenewalInternal Renewal• HealingHealing

• New Goals & PurposeNew Goals & Purpose• TrainingTraining

A LIFE TRANSITION BETWEEN CHAPTERS

ENDING

The Outside-In RuleFamily

Work, CareerWork, Career

VoluntaryVoluntary

Groups,Groups,

Professional Professional Associations,Associations,

National RolesNational Roles

Community,Community,

ChurchChurch YOUYOU

The Inside-Out RuleFamily

Work, CareerWork, Career

VoluntaryVoluntary

Groups,Groups,

Professional Professional Associations,Associations,

National RolesNational Roles

Community,Community,

ChurchChurch YOUYOU

Global Roles Global Roles and Citizenshipand Citizenship

Winning at Life Winning at Life Works Best from the Works Best from the INSIDE-OUTINSIDE-OUT

The Learning-is-for-Kids Rule

AdulthoodChildhood

Launching

Elderhood

Working, Doing and Caring

Learning

Retired

The Learning-isn’t-just-for-Kids Rule

Human SkillsKnowledge & Information

Technical Skills

Values & Leadership

The Steady-State Rule

AdulthoodChildhood

Work + Love creates progress, reaching self-perpetuating levels of happiness, success, and security that get better and better with time.

The Endless Change Rule

MidlifeYoung Adulthood Elderhood

PHYSICIAN COPING SKILLS

• Work Harder

• Work Harder

• Work Harder

• Bitch, Bitch, Bitch

• Hope Things Change

• Isolate Copyright CPPR

2012

CHANGINGCAREER / LIFE EXPECTATIONS

• The Burden of Educational Debt

• The Cost of Home Ownership

• The Desire for a Balanced Life

• New Work Options

• Early Retirement

The CYCLE OF RENEWAL as a Model of

Life and Career Change

PHASE 1PHASE 1GO FOR ITGO FOR IT

PHASE 2PHASE 2THE DOLDRUMSTHE DOLDRUMS

PHASE 4PHASE 4GETTING READYGETTING READY

PHASE 3PHASE 3COCOONINGCOCOONING

MINITRANSITIONRESTRUCTURE YOUR CHAPTER

A LIFE CHAPTER

A LIFE TRANSITON

TheDisenchanted

Self

TheInnerSelf

ThePassionate

Self

TheHeroic

Self

THE CYCLE OF RENEWAL

PROLONGING “GO FOR IT”

• Engage in Continuous Learning

• Practice Effective Stress Management Balance Your Life!

• Strategic Use of Time and Money

• Schedule Frequent Fun!

Questions to Ponder:• In which phase of the Renewal Cycle are you with your various roles:

_______________________________Spouse/Partner_______________________________Parent_______________________________Friend_______________________________Physician_______________________________Community Leader_______________________________Other

• In which phase of the Renewal Cycle are you as a whole person?

• What are the key actions you can do to make the best use of your time in this phase?

• What are the key actions you can stop doing to make the best use of your time in this phase?

Reconnecting toYour Personal Values

Reconnecting toYour Personal Values

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

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?

It All Begins with a Re-evaluation

of Your Purpose

Question to Ponder:

What is YOUR Purpose?

Maximizing Your Limited Resources

Time Management

The Time Management MatrixUrgent Not Urgent

IACTIVITIES:

Crises

Pressing problems

Deadline-driven projects

IIACTIVITIES:

Prevention, PC activities*

Relationship building

Recognizing new opportunities

Planning, recreation

IIIACTIVITIES:

Interruptions, some calls

Some mail, some reports

Some meetings

Proximate, pressing matters

Popular activities

IVACTIVITIES:

Trivia, busy work

Some mail

Some phone calls

Time wasters

Pleasant activities

No

t Im

po

rta

nt

Imp

ort

an

t

[S. Covey: The Seven Habits of Highly Effective People]

I RESULTS:

• Stress• Burnout• Crisis management• Always putting out fires

II

IV

III

FOCUSING ON QUADRANT I

I II

IV

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

FOCUSING ON QUADRANT III

I II

RESULTS:

• Total irresponsibility

• Fired from jobs

• Dependent on others or institutions for basics

III IV

FOCUSING ON QUADRANTS III AND IV

I, III, IV II

RESULTS:

• Vision, perspective

• Balance

• Discipline

• Control

• Few crises

FOCUSING ON QUADRANT II

Values-Based Time Management

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?

Maximizing Your Limited Resources

Money Management

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?

Designing Your Personal Balance Plan

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.”

PETER S. MOSKOWITZ, M.D.EXECUTIVE DIRECTOR

CENTER FOR PROFESSIONAL & PERSONAL RENEWAL

PALO ALTO, CA

FOUNDATION FOR MEDICAL EXCELLENCE

October 6, 2012

Maximizing Your Vital Resources:

Values-Based Time & Money Management