There is a famous quote saying “The most successful people are those who are good at Plan B”. It is also said that expect the best but prepare for the worst. If you ever happen to visit a financial advisor, you will be told to start your investing journey by first creating an emergency fund. An emergency fund is something that will sustain your livelihood in the case where your earnings stop abruptly. It is advisable to create an emergency fund not lesser than your monthly expenditure multiplied by six. This rule holds even for the most respected professionals in society; such as doctors, lawyers as well as businessmen.
Have you ever wondered why doctors need something like an emergency fund? Doctors constitute the most dependable segment of any society; having an evergreen source of income. As income depends upon the health status of society; it is never expected to go down or stop abruptly. So, just like me, if you also think that doctors need to rest assured and do not need to worry about their perpetual financial flow. Welcome to reality. I suggest that all practicing doctors with a healthcare license should apply for the second medical licensure as soon as possible. Perplexed? Let me elaborate.
Why do you need second medical license?
We are living in a cynical world. It is an unpredictable place. When things come down to your family’s well-being and livelihood, do not take things lightly. You are advised to never put all your eggs in one basket. The patients are filing lawsuits for the most trivial and controversial matters. When you are working in a hospital setting in a foreign country; even a small patient complaint can escalate to disciplinary action from the hospital board. You will be debarred from practicing till the inquiry is resolved.
The process is often long and inconclusive; many times it is difficult to prove or determine whether the doctor is guilty of negligence or incompetence. Nevertheless, it is for sure that a doctor under investigation cannot treat patients; hence, out of business. Just imagine yourself as a doctor being put in this kind of situation. You have no option other than to wait out the process and pray that the decision comes out in your favor. Now imagine having a lifeguard on hand under the same situation. Under these kinds of circumstances, a second valid medical license in a neighboring state comes in handy.
The doctor is free to join any hospital with a vacancy using his/her second healthcare license. He can also start practicing by the time the board arrives at a satisfactory conclusion regarding his/her further medical practicing career. The financial safety of the doctor will remain undisturbed owing to the second or backup medical license.
So, why wait for an earthquake to hit your town? Start building a second home now instead. The process of medical licensure is lengthy and requires a lot of documentation. The amount of time and process has to be finished while practicing. In this way, you do not need to do it in an emergency.
Furthermore, most states or medical boards will consider your legal status while issuing a medical license. When under an investigation or trial for medical negligence or malpractice; whether proven guilty or innocent, you will probably not be considered eligible for acquiring a new license in a new state of the same country.
Also, not all states are accepting new license registrations at all times. Hence, it becomes very important to complete the process of second and third healthcare license acquisition while you are still working and cleaning with the first license. The best time to acquire a second healthcare license, is thus, the time when you least need it.
Multiple professional agencies like Credidocs assist and hasten the process, making it possible for you to have a valid second or even third medical license. They provide complete information enlisting all states that are currently accepting new licenses, which are the easiest to go along. They are also comparatively cheaper, and which are the documentation requirements for each of them. In addition, they evaluate your certificates and credentials and also suggest the best state to apply for medical licensure; just like the process undergone by doctors while applying for the medical course at universities.
In a nutshell, make sure to consult an agency like Credidocs for your faster medical licensing process. This way, you can focus on your work.