MD Financial Management, in collaboration with Scotiabank, announces new series of funding to address physician wellness

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

MD Financial Management, in collaboration with Scotiabank, announces new series of funding to address physician wellness

Canada NewsWire

Investment will support the health and wellness of
Canadian physicians across the country

OTTAWA, April 18, 2019 /CNW/ - MD Financial Management Inc.(MD), in collaboration with Scotiabank and the Canadian Medical Association (CMA), is proud to announce support for an initial grouping of specialty societies to target the pressing issue of professional burnout among Canadian physicians.

Physician health and wellness are critical to the long-term sustainability of the physician workforce and the health system at large, yet it is well documented that stress and burnout are escalating issues within the Canadian medical community. MD, CMA and Scotiabank are proud to work with the physician community, including specialty societies, provincial territorial medical associations, CMA affiliates and other key collaborators  to address this issue and to support the medical profession.

"As the only national financial services firm exclusively dedicated to the financial well-being of Canada's physicians and their families, we're invested in physicians and the issues most important to them," said Brian Peters, President and CEO of MD Financial Management. "That includes health and wellness initiatives that support a vibrant medical profession."

The $625,000 funding, to be distributed over three years, is the latest in a series of $115 million contributions Scotiabank is making to Canada's medical profession as part of its 10-year affinity agreement with the Canadian Medical Association. Additional announcements for the physician community are forthcoming, recognizing that such collaborations are essential to support the profession and effect meaningful change.

The funds will provide much-needed support for research, advocacy, education and training at the following seven national specialty societies:

Physicians face unique circumstances that contribute to high rates of burnout, which can manifest in depersonalization and exhaustion and lead to self-doubt and loss of motivation. A recent survey of Canadian physicians found 30% were experiencing burnout.1 It also found that physicians' overall mental health can be linked to their area of practice. Emergency physicians, for example, are three times more likely to report burnout than physicians in other specialties;2 physicians in surgical specialties are nearly twice as likely to report burnout than those in other practice areas;3 and radiologists experience high rates of emotional exhaustion and depersonalization.4

"The health and well-being of Canadian physicians is critical to the health of this country as a whole," said Glen Gowland, Executive Vice President and Head of Global Wealth Management at Scotiabank. "Scotiabank is proud to invest in national programs that will have a positive impact on the lives of physicians and the communities they serve."

"Physician burnout is a chronic and urgent problem in Canada, where a significant number of medical professionals endure stress and exhaustion amidst an often overwhelmingly difficult work environment," said Dr. Rodrick Lim, Chair, Canadian Association of Emergency Physicians Wellness Committee. "It's an important and sensitive issue that deserves investments like this one, so that novel, targeted wellness initiatives can be developed to support physicians and their ongoing ability to provide high-level patient care."

About Affinity Contributions
Scotiabank, MD Financial Management (MD) and the Canadian Medical Association (CMA) together are firmly committed to supporting the medical profession and advancing health in Canada. As proof of this commitment, and in collaboration with the CMA and MD, Scotiabank will invest $115 million over the next 10 years to support physicians and the communities they serve across Canada.

About Scotiabank
Scotiabank is Canada's international bank and a leading financial services provider in the Americas. We are dedicated to helping our more than 25 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 98,000 employees4 and assets of over $1 trillion (as at January 31, 2019), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit www.scotiabank.com and follow us on Twitter @ScotiabankViews.

About MD Financial Management Inc.
With 50 years of physician-focused experience, MD has one main goal: to help Canada's physicians achieve financial well-being. MD has more than $49 billion in assets under administration and is dedicated to serving Canada's physicians and their families. MD provides financial products and services, the MD Family of Funds and investment counselling services through the MD Group of Companies. For a detailed list of these companies, visit md.ca.

About the Canadian Medical Association
Since 1867, the Canadian Medical Association has been the national voice of Canada's medical profession. We work with physicians, residents and medical students on issues that matter to the profession and the health of Canadians. We advocate for policy and programs that drive meaningful change for physicians and their patients.

1 Canadian Medical Association, "CMA National Physician Health Survey" (October 2018), 8.
2 E. Berger, "Physician Burnout," Annals of Emergency Medicine, vol. 61, issue 3 (March 2013): A17–A19.
3 Canadian Medical Association, "CMA National Physician Health Survey" (October 2018), 13.
4 Nanxi Zha, Michael N. Patlas, Nick Neuheimer, and Richard Duszak Jr., "Prevalence of Burnout Among Canadian Radiologists and Radiology Trainees," Canadian Association of Radiologists Journal, vol. 69, issue 4 (November 2018): 367–372.

SOURCE MD Financial Management

View original content: http://www.newswire.ca/en/releases/archive/April2019/11/c2758.html

Copyright CNW Group 2019

Comment On!

140
Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).