The Work Index by Flexa

Panacea Financial

Panacea Financial is a financial services company specifically designed for doctors, dentists, and veterinarians at all stages of their careers, founded and run by doctors.

https://panaceafinancial.com/
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Description

Panacea Financial is a financial services company dedicated to serving the unique needs of doctors, dentists, and veterinarians. Founded by doctors who experienced the frustrations of traditional banking during their medical training, Panacea aims to simplify financing and make it more accessible for medical professionals at all stages of their careers. They offer a range of products and services, including personal loans, student loan refinancing, checking and savings accounts, practice loans, and mortgages.

Panacea Financial goes beyond simply providing financial products; they are committed to supporting the medical community through their foundation which awards scholarships and grants to underrepresented minority medical trainees. Their focus on diversity and inclusion in the medical field is a key part of their mission to make medicine better. Panacea also offers resources and advice to help doctors navigate various aspects of their professional and financial lives, such as articles, calculators, podcasts, webinars, and a "Build Your Team" program that connects doctors with industry-specific experts.

Flexibility

Panacea Financial offers a flexible work environment, particularly for those in the medical field. They understand the demanding schedules of doctors and provide banking services available 24/7, whether mobile, online or in person. Their focus on digital solutions caters to doctors' busy lifestyles and allows them to access banking services outside traditional business hours.

Benefits

Panacea Financial offers a comprehensive suite of benefits specifically tailored to the needs of physicians, dentists, and veterinarians. Employees enjoy competitive salaries, a generous benefits package, including health insurance, retirement savings plans, and paid time off. Additionally, they have access to a variety of financial products and services, such as personal loans, student loan refinancing, checking and savings accounts, and practice loans, designed to meet their unique professional needs.

Mission

Panacea Financial is a financial services company dedicated to making doctors' lives better by providing accessible and easy-to-understand financial solutions tailored specifically to their unique needs. They strive to simplify the financial landscape for doctors, from students and residents to practicing physicians, through personalized banking, loans, and insurance options. Panacea also prioritizes community engagement and social impact by supporting underrepresented minorities in medicine through scholarships and grants.

Disruptor
Healthcare
Improving quality of life/health
Social impact led

Culture

Panacea Financial cultivates a culture centered on supporting the unique financial needs of doctors, dentists, and veterinarians. They promote a sense of community and understanding, recognizing the challenges faced by medical professionals at all stages of their careers. The company emphasizes accessibility and personalized service, offering 24/7 support and a fully digital banking experience designed to fit the busy lives of their clients. A commitment to diversity and inclusion is also evident, with a focus on empowering underrepresented minority medical trainees through scholarships and grants.

People-first
Progressive
Supportive

DE&I

Panacea Financial is dedicated to diversifying the physician workforce by providing scholarships and grants to underrepresented minority medical trainees. Their Panacea Financial Foundation, a 501(c)(3) non-profit organization, is funded by company profits and donations and actively works to support organizations with a shared mission to improve diversity in the medical field. This commitment to DEI is not a one-off effort but is ingrained in their company culture and a core part of their mission to make medicine better.

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