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Physical Medicine and Rehabilitation Physician

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AVG. SALARY

$223,920

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EDUCATION

First professional degree

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JOB OUTLOOK

Stable

Real-Life Activities

Real-Life Math

Physiatrists must rely on their creativity in customizing their patient's care, and making the most of often limited resources. They also must rely on math skills not only for patient care, but for their own personal finances and business dealings if they head their own practice.

Dr. Paul Pannozzo is a physiatrist based in Arizona. He says, "You need nothing more than simple math for patient care. If you run your own books, your own company, you have to know math for taxes, business, etc."

You're running your own physiatry clinic and your day-to-day operating costs are exceeding your income. You don't want to compromise your services to your patients, and you don't want to fire any staff. Examine your budget and see where you could trim 20 percent off your entire expenses.

Monthly expense budget:

- Heating and lighting: $40/day x 20 days
- Salary for 1 full-time medical office assistant: $200 per day x 20 days
- Rent for front office, 1 patient room, 1 room used for storage: $2,100 (monthly rent regardless of how many days actually using)
- Miscellaneous (coffee, muffins, creamer from catering company, office equipment): $25 per day x 20 days
- Office supplies: $500 monthly

Question:

How much money do you have to save to reduce your budget by 20 percent?

Contact

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OCAP believes that financial literacy and understanding the financial aid process are critical aspects of college planning and student success. OCAP staff who work with students, parents, educators and community partners in the areas of personal finance education, state and federal financial aid, and student loan management do not provide financial, investment, legal, and/or tax advice. This website and all information provided is for general educational purposes only, and is not intended to be construed as financial, investment, legal, and/or tax advice.