This is the seventh and eighth in a series of articles about healthcare and health management increasingly intersecting with wealth management.

The following articles, from Brian Dooreck, MD, president and founder of Executive Health Navigation, continue an examination of how the worlds of health and wealth cross over. The first of these commentaries below looks at making preparations for medications; the second looks at communications and their importance. The editors are pleased to share this content; the usual disclaimers apply. Email the editor to respond at tom.burroughes@wealthbriefing.com

Introduction
In today's fast-paced and complex world, individuals often rely on medications to manage various health conditions, enhance wellbeing, or improve quality of life. For high net worth individuals and their families, navigating the world of medications can be particularly challenging due to the vast array of options available, potential interactions, and the need for personalized care. Family offices and high net worth advisors play a crucial role in supporting their clients' overall wellbeing, which includes a deep understanding of medications. This article will explore the importance of medication management, potential risks, and best practices for advisors to assist their clients in making informed decisions.

1. Importance of medication management
Proper medication management is essential for individuals of all economic backgrounds, but it becomes crucial for high net worth individuals with complex medical histories and multiple prescriptions. Approximately 5 per cent of adult patients have been affected by medication errors, with nearly a third of these errors leading to adverse drug events. Family offices and advisors need to recognize the potential risks associated with the mismanagement of medications, as these errors can significantly impact their clients' health and wellbeing.

Moreover, HNW individuals often have access to various healthcare providers, and different specialists may prescribe their medications. The typical lack of communication increases the likelihood of drug interactions and contraindications, making medication management more challenging. It is known that medication reconciliation, a process of verifying and updating medication lists, significantly reduces the risk of adverse drug events. Family offices and advisors should encourage clients to undergo regular medication reviews with a primary care physician or a medication management specialist.

Best practices for medication management
2. Encourage communication with healthcare providers
Family offices and advisors should promote open and transparent communication between their clients and healthcare providers. The importance of patient-physician communication in reducing medication errors is essential. Encouraging clients to share their complete medical history and medication list with all treating physicians ensures a comprehensive approach to healthcare.

3. Facilitate medication reviews
Regular medication reviews are essential for high net worth individuals with complex medical regimens. Medication therapy management programs significantly improved medication adherence and health outcomes. Family offices and advisors can collaborate with pharmacists or specialized medication management services to conduct thorough reviews and identify potential issues.

4. Promote health literacy
Improving health literacy among high net worth individuals is crucial for enhancing medication management. Patients with higher health literacy are more likely to adhere to medication regimens. Family offices and advisors should provide educational resources and support to empower clients to fully understand their medications.

Conclusion
As family offices and HNW advisors, it is imperative to recognize the significance of medication management in supporting the wellbeing of your clients. By understanding the potential risks associated with medication errors and implementing best practices for medication management, you can assist your clients in making informed decisions about their health. Encouraging open communication with healthcare providers, facilitating medication reviews, and promoting health literacy is essential to ensure optimal medication management for high net worth individuals.

Part 2: The power of communication

Introduction  
In the intricate world of family offices and high net worth advisors, where comprehensive care is not just a service but a commitment, fostering open communication with doctors and healthcare providers holds immense significance. This communication is not merely a channel for transmitting information; it forms the bedrock of a trusting, respectful, and effective healthcare relationship. Here’s why open communication with healthcare providers is crucial in the realm of HNW individuals and how it can enhance the quality of healthcare services.

1. Building trust and confidence
Open communication establishes trust, a cornerstone of any meaningful relationship. HNW individuals often have unique health concerns or demanding schedules. By openly discussing these concerns, doctors can tailor their services to meet individual needs effectively, instilling confidence in their patients.

2. Personalized healthcare
HNW individuals frequently have specific health needs and preferences. Transparent communication allows doctors to understand these nuances, enabling them to provide personalized healthcare solutions. This tailored approach addresses immediate concerns and contributes to the patient's wellbeing.

3. Ensuring informed decisions
Transparent communication ensures that patients are well informed about their health conditions, treatment options, and potential risks. In this informed state, high net worth individuals can actively participate in decisions about their healthcare. This empowerment fosters a sense of control, leading to better adherence to treatment plans and improved outcomes.

4. Addressing mental health and wellbeing
Open communication extends beyond physical ailments, encompassing mental and emotional wellbeing. HNW individuals often face immense stress due to professional and personal commitments. By openly discussing mental health concerns, doctors can provide appropriate support and resources, contributing significantly to the overall quality of life.

5. Coordination and collaboration
In cases where multiple specialists are involved, transparent communication ensures seamless coordination. High net worth individuals often consult various specialists for different health aspects. Clear communication channels among these professionals guarantees that the patient receives holistic and well-coordinated care, minimizing the risk of conflicting advice or treatments.

6. Proactive health management
Open dialogue encourages proactive health management. High net worth individuals can openly discuss lifestyle choices, dietary preferences, and stressors. Doctors can then offer guidance that aligns with these choices, facilitating preventative measures and promoting a healthier lifestyle.

7. Navigating complex medical systems
Healthcare systems can be complex, with HNW individuals often seeking medical services globally. Transparent communication helps patients navigate these systems. It increases the likelihood that medical records are securely and efficiently transferred, prescriptions are understood, and follow-up care is seamless, regardless of geographical location.

Conclusion:
Open communication with doctors and healthcare providers is not just a conduit for information; it is the linchpin of quality healthcare in family offices and HNW advisors. By fostering an environment where high net worth individuals can openly discuss their health concerns, preferences, and aspirations, family offices and advisors contribute significantly to their clients' wellbeing. This open channel enhances the efficacy of healthcare services. It strengthens the bond of trust between healthcare providers and their high net worth clients, ensuring a healthier, happier, and more fulfilling life.