Wealth Planning for the Modern Physician
David B. Mandell, JD, MBA
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Join attorney, wealth manager, and well-known author David Mandell, JD, MBA in this podcast dedicated to improving a physician’s personal financial bottom line.
David talks with doctors from every specialty and stage of career about their real-world lessons in financial matters, and interviews industry experts in all areas of wealth management. Tune in every other week for new episodes!
Available episodes
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Nov 23, 2023
Strategically Evaluate & Negotiate Potential Jobs with The Doctors Agents Co-Founders Dr. Sanjeev Bhatia & Dr. Matthew Provencher
In this episode, David welcomes back two guests from earlier seasons – orthopaedic surgeons Dr. Sanjeev Bhatia and Dr. Matthew Provencher. Sanjeev and Matt join David to discuss a new venture they’ve founded, along with David, called The Doctors Agents (TDA).
Sanjeev and Matt begin with how they identified a need in the marketplace for physicians to know more and achieve better results when evaluating and negotiating jobs. They discuss their personal stories and those they have seen from colleagues and fellows they train and delve into the reasons many physicians tend to evaluate jobs on their own, without the benefit of data, tools or professionals.
Sanjeev introduces TDA and describes how it helps physicians seeking their first job out of training or changing jobs. David explains a bit about two on-demand tools that TDA provides 24/7/365 – a financial model for evaluating one or more jobs financially and an AI-based contract review.
Matt comments on the importance of TDA’s work to vet experts in medical contract law and financial planning as part of their offering for physicians.
David and Sanjeev then discuss how the financial model and AI contract review tools could be valuable even for physicians who are not changing jobs – from helping them map out their financial plan and dealing with changes at the practice or hospital to taking advantage of entrepreneurial opportunities as they arise.
David wraps up with a review of the basic pricing for TDA’s various offerings in their Beta phase.
Learn more and listent to this and past episodes by visiting www.physicianswealthpodcast.com.
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Nov 2, 2023
The Medical Expert Witness “Side Hustle” with Dr. J. Jordan Romano
Host David Mandell chats with Dr. Jordan Romano in Episode 4.4 of the podcast. Jordan talks about his career, how he became involved in working as a medical expert witness, grew the work into a business, and now advises other physicians who are interested in this potential “side hustle.”
Jordan begins with the story of how he ended up in medicine and at Harvard and Mass General, as well as the non-traditional steps he took along the way. He relates why business was in his blood, given his family background in banking and finance.
Jordan covers how and why he first jumped into the field of medical expert witnessing, what he liked about it initially and what it took to turn it into a real business. He also shares what he sees as the most significant challenges to growing the business.
Jordan then discusses his current work in advising and coaching physicians looking to get into this space, what doctors typically can earn in the field, and common mistakes he sees physicians make when starting out.
Jordan wraps up the episode with his big picture advice for physicians considering this type of work.
Learn more and listent to this and past episodes by visiting www.physicianswealthpodcast.com.
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Oct 19, 2023
A Deep Dive Into Real Estate with Colin Carr
Listen in as David chats with healthcare real estate expert Colin Carr. Colin begins with his background in real estate in a variety of settings. He then tells the story of how, after seeing physicians do so poorly in deals, he decided to launch a firm dedicated to helping doctors.
Next, Colin explains the top mistakes he sees physicians and practices make when it comes to their real estate -- including do-it-oneself, not performing adequate due diligence and more – and what that will cost them in the long run.
Colin delves into the choice between leasing and purchasing for a medical practice and relates the importance of having a multi-factor decision process as the key to fostering long-term peace of mind.
He then discusses the significance of timing, in terms of when to make the ‘rent vs. own’ decision, when to contact a landlord on a possible lease renewal, and even when to reach out to potential real estate agents.
Colin wraps up by sharing how physicians can find an ethical, competent real estate agent they can trust.
Learn more and listent to this and past episodes by visiting www.physicianswealthpodcast.com.
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Oct 5, 2023
Avoiding and Disarming Legal Landmines with Neurosurgeon and Attorney Dr. Jeffrey Segal
Dr. Jeffrey Segal, a neurosurgeon, attorney and founder of Medical Justice, returns to the podcast for Episode 4.2, where he and David discuss current legal landmines facing physicians.
Jeff begins with the topic of licensing and how doctors typically become involved with investigations into their licenses by state departments and the various outcomes that can occur. He covers private letters of concern, public admonitions, license restrictions, suspensions and revocations.
Jeff explains how the economics of a licensure defense case are often worse for the physician than a typical medical malpractice case, and thus implores physicians to make sure they have adequate insurance coverage for this type of risk.
He next describes a “sham peer review” and why doctors need to be wary of it and delves into the importance of the National Practitioner Data Bank. Jeff then covers disputes with hospitals and other employers and common mistakes physicians make as they exit.
The episode concludes with Jeff giving some words of advice about physicians working with attorneys.
Learn more and listent to this and past episodes by visiting www.physicianswealthpodcast.com.
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Sep 21, 2023
50 Years in Private & Locums Practice, Business Ventures & More with Dr. Charles Mandell
To kick off Season 4 of the podcast, David welcomes a very special guest – his father, radiologist Dr. Charles Mandell. David begins by asking Charlie, as he does with all physician guests, where he is from and what led him to become a physician in general and a radiologist in particular.
Charlie shares a bit about his first job out of training and his move to become chairman of a group radiology practice after a few years, including what he learned about the business of medicine.
David and Charlie discuss Charlie’s various entrepreneurial business ventures during this phase of his career, including real estate development and alternative energy.
Charlie then talks about the second phase of his career – a locums practice that has allowed him to travel around the U.S. and maintain an ideal work-life balance for him and his wife. He relates some advice to other physicians who may consider this option. Charlie also discusses the telemedicine-medical software firm he co-founded, which continues to operate and grow today.
The episode concludes with Charlie sharing some insights from 50 years in practice, why he still works and enjoys it, and what younger physicians should ponder when they consider their future retirement.
Learn more and listent to this and past episodes by visiting www.physicianswealthpodcast.com.
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Sep 7, 2023
Summer Rewind #7: Private Equity Insights with Dr. Steve Hamilton and CEO Andy Blankemeyer
Join host David Mandell as he revisits and highlights 7 episodes from Seasons 1 and 2 of The Wealth Planning for the Modern Physician podcast. “I think that all of the episodes are great and provide value for our listeners,” says David, “but I selected a few that offer intriguing ideas and a unique perspective for physicians in 2023.”
Insights a Few Years Beyond a Private Equity Transaction with Dr. Steve Hamilton and CEO Andy Blankemeyer
Originally released March 3, 2022
For the seventh and final installment of the 2023 Summer Rewind Series, David looks back to Episode 2.15, where he chats with orthopaedic surgeon Dr. Steve Hamilton and practice CEO Andy Blankemeyer.
Steve and Andy share lessons learned from a private equity investment into their practice from the unique viewpoint of more than two years after the transaction. They cover the evaluation process used to select the right PE firm, ways they overcame objections from some of the practice physicians, and steps they are taking to handle rapid growth and other post-transaction challenges.
David selected this episode because of the current industry trend toward M&A deals and private equity investment in medical practices. Physicians of all specialties, along with their practice executives, can gain valuable insights from the advice and perspectives shared by Dr. Hamilton and Andy Blankemeyer.
Learn more and listent to this and past episodes by visiting www.physicianswealthpodcast.com.
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Aug 24, 2023
Summer Rewind #6: Improving How You Work With Your People with Frank Maselli
Join host David Mandell as he revisits and highlights 7 episodes from Seasons 1 and 2 of The Wealth Planning for the Modern Physician podcast. “I think that all of the episodes are great and provide value for our listeners,” says David, “but I selected a few that offer intriguing ideas and a unique perspective for physicians in 2023.”
Improving How You Work With Your People with Frank Maselli
Originally released February 17, 2022
David takes a look back at Episode 2.14 for the sixth segment of the 2023 Summer Rewind Series. The episode features Frank Maselli, a speaker, author, trainer and coach, who works with employers to help them improve their hiring strategies for new employees and interactions with current team members.
David and Frank discuss assessment tests and how Frank uses test results to evaluate groups of employees at all types of companies and organizations, including medical practices and even OJM Group.
Frank offers valuable advice to employers on hiring the right person for the job and getting the most out of the people they already have. Physicians who are employers and practice owners, as well as those who are employees, can benefit from Frank’s insights on team building, performance motivation, and interacting with others at any level of an organization.
Learn more and listent to this and past episodes by visiting www.physicianswealthpodcast.com.
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Aug 10, 2023
Summer Rewind #5: The Navy SEALS to the New England Patriots with Dr. Matthew Provencher
Orthopedic Experiences: The Navy SEALS to the New England Patriots with Dr. Matther Provencher
Originally released October 28, 2021
For the fifth installment of the 2023 Summer Rewind Series, David revisits Season 2, Episode 7, where he chats with orthopaedic surgeon Dr. Matthew Provencher.
Dr. Provencher is a long-time client of OJM Group and is currently collaborating with David on some educational ventures for physicians. Matt has had a remarkable career, which includes military service as a naval surgeon treating Navy SEALS and work with the New England Patriots and Boston Red Sox as their team physician.
After his time in Boston, Matt moved from Boston to Vail and joined The Steadman Clinic, a world-renowned orthopaedic practice, where he learned valuable lessons from the practice’s sale to a private equity firm. The insights gained from Matt’s experience in these varied roles, along with his advice for younger physicians, make for an interesting listen for physicians of all specialties.
Learn more and listent to this and past episodes by visiting www.physicianswealthpodcast.com.
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Jul 27, 2023
Summer Rewind #4: Expert Insights on Asset Protection with Bo Loeffler, Esq.
Join host David Mandell as he revisits and highlights 7 episodes from Seasons 1 and 2 of The Wealth Planning for the Modern Physician podcast. “I think that all of the episodes are great and provide value for our listeners,” says David, “but I selected a few that offer intriguing ideas and a unique perspective for physicians in 2023.”
Expert Insights on Asset Protection with Bo Loeffler, Esq.
Originally released September 30, 2021
For the fourth installment of the 2023 Summer Rewind Series, David revisits Season 2, Episode 5, where he chats with Bo Loeffler, an author and nationally recognized asset protection attorney.
Like David, Bo comes from a family of physicians, but gravitated to a career in the law, where he has specialized in asset protection for lottery winners, business owners and physicians. Bo and David discuss tools often used in asset protection planning, including insurance, exempt assets, LLCs and trusts, and outline key success factors for each and pitfalls to avoid.
David highlights this episode because asset protection is often a hot topic for doctors, largely due to recent high-profile cases that have resulted in significant verdicts against physicians and medical practices. If protecting assets for yourself, your family and your practice is of interest to you, you’ll gain valuable insights from David’s conversation with Bo Loeffler.
Learn more and listent to this and past episodes by visiting www.physicianswealthpodcast.com.
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Jul 13, 2023
Summer Rewind #3: Financial Therapy 101 with Dr. Gregory Gilot and Erika Wasserman
Join host David Mandell as he revisits and highlights 7 episodes from Seasons 1 and 2 of The Wealth Planning for the Modern Physician podcast. “I think that all of the episodes are great and provide value for our listeners,” says David, “but I selected a few that offer intriguing ideas and a unique perspective for physicians in 2023.”
Episode 1.13: Financial Therapy 101 with Dr. Gregory Gilot and Erika Wasserman
Originally released March 4, 2021
For the third segment of the 2023 Rewind Series, David speaks with Dr. Greg Gilot, an orthopedic surgeon at the Cleveland Clinic in Florida, along with his collaborator, "your financial therapist" Erika Wasserman.
David and Greg cover reasons why Greg chose to take time away from his busy orthopaedic practice to get a certification in financial therapy. Greg shares how physicians can benefit from financial therapy and introduces his collaborator Erika and her role as a financial therapist.
Because doctors experience a great deal of stress related to money, the availability of financial therapy is something they should be aware of for themselves, their colleagues, and their family members. This episode from 2021 offers a physician’s perspective on this important discipline that can help physicians focus on and achieve their long-term financial goals.
Ideas Worth Sharing
“We as physicians are high-income earners, but we accrue a lot of debt and we have no financial literacy.”
“Let’s pay for the past, live in the present while we prepare for the future.”
Learn more and listent to this and past episodes by visiting www.physicianswealthpodcast.com.
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Jun 29, 2023
Summer Rewind #2: The Financial Life of a Two-Physician Couple with Drs. Robin and Evander Fogle
Join host David Mandell as he revisits and highlights 7 episodes from Seasons 1 and 2 of The Wealth Planning for the Modern Physician podcast. “I think that all of the episodes are great and provide value for our listeners,” says David, “but I selected a few that offer intriguing ideas and a unique perspective for physicians in 2023.”
Episode 1.6: The Financial Life of a Two-Physician Couple with Drs. Robin and Evander Fogle
Originally released November 26, 2020
For the second installment of the 2023 Rewind Series, David revisits Episode 1.6 featuring a two-physician couple, Drs. Robin and Evander Fogle.
Individually, Robin is a reproductive endocrinologist and infertility specialist, while Evander is an orthopedic surgeon. The episode delves into both of their histories in terms of their careers, but also the challenges and opportunities of being a two-physician couple, including making financial decisions, raising a family with busy practices, and how they deal w…
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Jun 15, 2023
Summer Rewind #1: Lessons From a Neurosurgeon-Attorney-CEO, with Jeffrey Segal, MD, JD
Join host David Mandell as he revisits and highlights 7 episodes from Seasons 1 and 2 of The Wealth Planning for the Modern Physician podcast. “I think that all of the episodes are great and provide value for our listeners,” says David, “but I selected a few that offer intriguing ideas and a unique perspective for physicians in 2023.”
Episode 1.2: Lessons From a Neurosurgeon-Attorney-CEO, with Jeffrey Segal, MD, JD
Originally released October 1, 2020
Dr. Jeffrey Segal is a board-certified neurosurgeon, attorney, and founder of Medical Justice, a physician-based organization keeping doctors from being sued for frivolous reasons. He's also a founder of eMerit, which helps physicians protect and preserve their reputations, particularly online.
In this episode, Jeff and David discuss risk management and asset protection, Jeff's journey into medicine and law, the importance of having key staff and advisors, entrepreneurship, and various other areas. Jeff's triple role…
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Jun 1, 2023
Season 3 Recap: An Executive Summary
In the final episode of Season 3, host David Mandell recaps the season’s 18 episodes and highlights a pearl or two from each.
This recap can serve as a helpful reminder for listeners to revisit episodes that they found most valuable, and can encourage those who missed any episodes to visit our podcast page and listen during our summer hiatus.
New for Summer 2023: David has curated a series of thought-provoking and noteworthy episodes from Seasons 1 & 2 to be re-released every other Thursday. Look for new episodes in September when the Wealth Planning for the Modern Physician podcast resumes with Season 4!
Learn more and listent to this and past episodes by visiting www.physicianswealthpodcast.com.
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May 18, 2023
Time Management & Entrepreneurship With Resident, Book Author, and Podcast Host Dr. Wendell Cole
Wendell begins with his background—where he grew up and what got him interested in medicine generally and orthopaedics in particular. He outlines the jobs he had and ventures he started while in medical school, as well as the book he wrote and a podcast he launched at the same time. David and Wendell chat about why he ended that podcast and launched the NailedIt podcast when starting orthopaedic residency.
David and Wendell discuss Wendell’s approach to time and task management, including the use of batch processing. Wendell then explains his growing interest in real estate investing and delves into the details on the management of the Airbnb he owns.
Finally, Wendell and David shares his personal financial goals at his current career stage and those of his friends and colleagues also in residency and fellowship. He concludes by reminding all sports medicine doctors that he will be looking for a job shortly!
Learn more about our guest, including additional show notes and more, b…
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May 4, 2023
M&A Lessons, Including the Importance of Getting Employees on Board, with David Valaer
Listen in as host David Mandell chats with entrepreneur, former practice CEO and consultant David Valaer. David V. shares details about his former career as a naval Top Gun aviator including lessons from his training that he imparts to practices today.
He explains why his experience as a 100% owner of a company that went through an M&A transaction some years ago impacts his entire approach to working with medical practice owners. David V. explains what he likes to see with a practice as they begin a transaction approach process, including the importance of preparation. He gives some examples of practices he has worked with and gaps in preparation or issues they uncovered when doing the prep work.
David V. then covers the importance of the key staff, including employed physicians, extenders, and others, and explores the essential role they can play in getting the deal done – or stalled. The episode concludes with David V’s final thoughts for physicians considering a transactio…
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Apr 20, 2023
The Value of Experts, Hyper Growth and More from Dentist, Cosmetic Surgeon, Entrepreneur Dr. Erik Nuveen
In this episode, cosmetic surgeon Dr. Erik Nuveen joins David to discuss his career path, his practice’s growth, what he has learned about the business of medicine in building a cosmetic surgery platform. Erik begins by explaining his dual trainings and degrees in dentistry and medicine and how his family background shaped both his medical/dental career and his entrepreneurial spirit.
David and Erik then focus on Erik’s practice – its organic growth over the years, how that growth left him with a dilemma, and his thought process on solving the dilemma by creating a larger cosmetic surgery platform.
Erik explains his process of bringing his entrepreneurial vision to reality, which became like a real-life MBA, as well as an enormous commitment of time and energy. Erik delves into a few lessons he learned from the process – from dealing only with firms that understand healthcare, to the value of “real pros” as your advisors.
Erik’s share the challenges he faced and lesson…
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Apr 6, 2023
Banking for Doctors, by Doctors featuring Dr. Michael Jerkins
In this episode, David is joined by Dr. Michael Jerkins, internist, pediatrician, and co-founder and President of Panacea Financial.
Michael begins with his background – where he grew up and what got him interested in medicine. He explains his decision to postpone medical school for a year and get a master’s degree in Education, and how teaching is still part of his passion and career.
Michael relates how the financial stresses of medical school and starting a family showed him how the traditional banking system fails physicians in training and gave him the idea that eventually became Panacea Financial.
Michael then provides an overview of Panacea Financial: its physician focus, what’s unique about it compared with other banks, its relationship with Primis Bank, and a few statistics to illustrate Panacea’s recent growth. He covers which of their offerings are most popular with physicians and which are growing.
Michael concludes with what he sees as common misconceptions…
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Mar 23, 2023
Insights from Practice Consultant Catherine Maley, MBA
Listen in as David chats with medical practice consultant Catherine Maley. David begins introducing Catherine with her experience in working with cosmetic practices but points out that their discussion will include lessons for doctors in all types of practices.
Catherine starts with an explanation of what she does in her business with medical practices nationally and internationally. She then discusses what she is seeing in terms of important branding elements for all types of practices.
Catherine then relates to David what she is seeing in terms of the best in medical practice marketing, from content marketing to reviews to texting.
David and Catherine then tackle the challenge of staffing—getting the right people in the right positions and motivating the practice team once you have them.
David and Catherine conclude focusing on a few of her Top Ten Takeaways—lessons she has gleaned from the top 100 performing practices she has worked with over the years.
Learn more ab…
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Mar 9, 2023
An Unexpected Career Path and Lessons from the Business Side of Medicine with Dr. Shaminder Gupta
An Unexpected Career Path and Lessons from the Business Side of Medicine with Dr. Shaminder Gupta
In this episode, Dr. Shaminder (Shammi) Gupta joins David to discuss his career path, the impact of Hurricane Katrina on that path, and what he is learning from being a business executive as well as a clinician.
Shammi begins with his background – where he grew up, what got him interested in medicine why he gravitated to internal medicine & nephrology. He explains why his first job out of training was not a fit for him and how hurricane Katrina changed his path completely – as it did for many living in New Orleans at the time – opening up a career path he would not have considered otherwise.
Shammi also covers how he built a significant dialysis practice in a smaller town setting, became president of the Kidney Foundation, and built a reputation throughout the state. This led to his practice being acquired by Monogram Health, where he works today as an executive and clinician.…
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Feb 23, 2023
Career Moves, Personal Finance & Entrepreneurship with Selene Parekh, MD, MBA
In this episode, orthopaedic surgeon Dr. Selene Parekh joins David to discuss his career path, academic medicine, entrepreneurship, finance and more.
Selene begins with his background – where he grew up, what got him interested in medicine and orthopaedics in particular. He then explains his early exposure to and interest in financial topics, and why he chose to pursue an MBA.
Selene then explains why he took his first job out of training at the University of North Carolina, his role there and why he later moved to Duke University. He describes his adjunct professor role at Duke’s business school, and then why, after 14 years at Duke, he has made a very recent move to Rothman Orthopaedics in New Jersey.
Selene shares his approach to personal finance and his philosophy of surrounding himself with experts rather than trying to do too much himself.
Next, Selene explains his role in a number of entrepreneurial activities, including The Fantasy Doctors and The Tech Doctor.
The…
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Feb 9, 2023
Understanding One’s P&L and Being a Good Practice Citizen with Plastic Surgeon and Professor Dr. Richard Bartlett
In this episode, plastic surgeon Dr. Richard Bartlett joins David to discuss his career, academic and private practice, financial decisions and more.
Richard begins with his background—where he grew up, what got him interested in medicine and surgery in particular—and his lack of interest in finances as he went through medical and surgical training.
Richard explains the process for choosing his first job, including the benefit of learning to “balance the books” even in an academic setting.
He and David then cover his 15 years as an academic surgeon, what he learned financially in creating a plastics foundation from scratch, as well as his decision to create a private practice and the value of “being a good citizen” in making that transition easier.
Richard then spends a few minutes relating the types of financial advice he gives to fellows at Harvard and the advice he would give to all doctors.
Learn more about our guest, including additional show notes and more, by…
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Jan 26, 2023
Private Practice and Private Investing Insights from Dr. Charlie Eifrig
In this episode, retina specialist Dr. Charlie Eifrig joins David to discuss his career path, private practice, private investments, financial decisions and more.
Charlie begins with his background, including what got him interested in medicine and ophthalmology in particular and his exposure to and interest in financial topics, both in college and during medical training. He explains why he took his first job out of training in North Carolina as part of a small growing practice and why he moved across the country to join a practice in Orange County, CA.
Charlie then shares the lessons he learned from an investment he made with other local physicians that went south, involved mismanagement and caused multiple physicians to file for bankruptcy.
Charlie outlines what he sees as key factors in growing a successful and rewarding medical practice, including how to hire the right incoming physicians. Next, Charlie and David cover Charlie’s experience with investing in private companies…
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Jan 12, 2023
Hot Topics in Tax & Asset Protection Planning with Carole C. Foos, CPA
This episode focuses on tax and asset protection planning – as OJM Group partner and CPA Carole Foos joins David to highlight tax planning opportunities as we welcome in 2023. David then drills down into a few important developments in asset protection planning.
Carole begins with some highlights on new tax developments and opportunities, including energy-efficient home and business credits and clean vehicle credits. Carole discusses the new increased IRS interest rate effective January 1, 2023, and how that should impact physicians when it comes to estimated tax payments. Finally, Carole covers the importance of managing investment gains and losses and why this is not just a 4th quarter activity.
David then covers the trend of state exemption statutes improving protections, focusing on the California homestead exemption. He turns his attention to some important legal cases for asset protection planning. The first case involves a Delaware LLC, which many physicians have utilized fo…
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Dec 22, 2022
Insights from a Plastic Surgeon, Professor & Innovator with Dr. Joshua Korman
In this episode, plastic surgeon Dr. Joshua Korman joins David to discuss his career path, academic and private practice, innovation, financial decisions and more.
Josh begins with his background – where he grew up, what got him interested in medicine and plastics in particular. Josh explains why he took his first job out of training at Kaiser, the reasons he left to form a private practice, and the factors he sees as most important in guiding those career choices.
Josh shares his experiences with innovation, his thoughts on investing, and the benefits and challenges of his role as a professor at Stanford.
David then asks Josh about his thoughts on the growing trend of mergers and acquisitions in plastic surgery and why he got involved in writing the book The Business of Plastic Surgery, for which David and his partners contributed a chapter.
Josh concludes with two pieces of advice for younger plastic surgeons.
Learn more about our guest, including additional show notes and mo…
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Dec 8, 2022
Lessons from An Aesthetic Practice Sale with Dr. Steven Dayan and Dominic Mazzone
Listen in as David chats with facial plastic surgeon Dr. Steven Dayan and MedSpa Partners (MSP) CEO Dominic Mazzone. They discuss the consolidation in medicine in general and aesthetics in particular and delve into why Steven chose to sell his practice to MSP.
David begins the conversation by asking both Steven and Dominic about their upbringings and career paths. Steven explains how his practice grew over the decades with his use of research and “guerilla marketing,” and when selling the practice first appeared on his radar.
Steven shares what he learned going down the road with three other firms to the letter of intent (LOI) stage before finally agreeing to work with Dominic’s firm. Dominic then addresses the areas that a physician should look for when choosing a platform, the key questions he asks potential physician partners, and why integration is crucial – not just consolidation.
Steven the gives David his perspective, including why he chose MSP and how he continues to…
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Nov 24, 2022
Loans for Physicians, From Physicians with Dr. Zwade Marshall, CEO, Doc2Doc Lending
In this episode, David is joined by Dr. Zwade Marshall, an anaesthesiologist/pain medicine physician, as well as co-founder and CEO of Doc2Doc Lending.
Zwade begins with his background – where he grew up and what got him interested in medicine. He then describes Doc2Doc Lending and how the company emerged from his own cash flow dilemma after matching to attend Harvard for residency and needing to move to Boston.
Zwade then shares more about the story behind Doc2Doc Lending – how they evaluate physician borrowers differently than banks do, how their program fared during COVID, and the rate at which they have been growing.
David and Zwade then discuss the misconceptions many doctors have around debt, including emotions connected to it and the stress created by debt during training and early years of practice. Zwade explains how Doc2Doc Lending has raised money from physicians in practice to make these loans – the “equity” side of the business.
Finally, Zwade offers his advi…
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Nov 3, 2022
Varied Ventures, an Orthopedic Podcast and #Followthefro with Dr. Scott Sigman
In this episode, orthopaedic surgeon Dr. Scott Sigman joins David to discuss his career path, business and entrepreneurial endeavours, marketing, podcasts, and more.
Scott begins with his background – where he grew up, what got him interested in medicine and orthopaedics. He explains how both of his parents were entrepreneurs and how he realized early on the need for leveraging the expertise of others.
David and Scott then discuss the important factors Scott considered when choosing his first job out of training and Scott’s view on the importance of branding and marketing, especially for younger physicians looking to build their practices. Scott then relates the value he sees in finding great advisors and the importance of changing to new people if needed.
David and Scott then delve into Scott’s various entrepreneurial activities, from lasers in orthopaedic surgery, an orthopaedic mutual fund, the Ortho Show podcast, his #followthefro social media hashtag and more.
Finally, S…
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Oct 20, 2022
The Present & Future of the Healthcare Industry with Dana Jacoby
Listen in as David chats with Dana Jacoby, a thought leader and consultant in the healthcare industry.
Dana begins by explaining how she was initially attracted to the healthcare field, and shares details about the first part of her career at large multi-national healthcare firms. She then describes the origins of her firm Vector Medical Group, including her motivation to launch the firm.
Next, David and Dana discuss the current state of the healthcare industry, including the impact of technology and consolidation, and her bullish view of the industry, focusing on innovation. Dana also comments on specific specialties that she believes are at the beginning of significant changes, and how physicians in those specialties can take advantage of opportunities.
David and Dana conclude with Dana’s two key pieces of advice for physicians looking to thrive in the changing healthcare environment.
You can find show notes and more information by visiting www.physicianswealthpodcast.com.
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Oct 6, 2022
From Branding to Charitable Pursuits to Entrepreneurship & More with Dr. Travis Clegg
In this episode, orthopaedic surgeon Dr. Travis Clegg joins David to discuss his career path, wealth management decisions, charitable endeavors and more.
Travis begins with his background – where he grew up and what got him interested in medicine and orthopaedics. He explains how he did not have much exposure to finance early in his career but became an avid reader/listener of content to educate himself.
David and Travis then discuss Travis’s process for choosing his first job out of training as a hospital employee and what he saw as the pros and cons there vs. private practice, where he has been for a few years.
Travis then relates how he has approached wealth management, including hiring advisors and forming a real estate investment firm with a non-physician friend. He also explains his recent formation and ownership of a surgery center and the positives and negatives he is learning from that experience.
Finally, Travis discusses his medical mission work, including his 2022 t…
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Sep 22, 2022
All Things Real Estate with Trisha Talbot
Listen in as David chats with Trisha Talbot, real estate advisor and entrepreneur behind DocProperties.
Trisha begins by explaining what her training, certifications, and experience in real estate were before launching her own firm. She then relates her motivation to launch DocProperties and delves into the unique aspects of healthcare real estate and the challenges for physicians looking to own it.
Trisha then shares her answers to a few common questions she hears from physicians and discusses a typical first step for a doctor considering a new office or piece of real estate. Finally, Trisha explains when a practice might consider selling a property, and important factors affecting that decision.
You can find show notes and more information by visiting www.physicianswealthpodcast.com.
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Sep 8, 2022
Exiting Partners from a Practice with Attorney Jason Greis
Listen in as David chats with nationally recognized healthcare attorney Jason Greis about the important and sensitive topic of creating win-win strategies for exiting retiring partners from a medical practice. Jason begins by describing his firm and practice and then gives some reasons why setting a partner exit pathway is so important for the exiting partners, the practice and younger partners.
Jason then explains what he is seeing in the marketplace in terms of private practice exit plans (or “sunset” plans), why striking a distinct deal for each new exiting physician can be problematic and why starting the exit conversation well in advance of any one partner looking to leave is ideal.
Jason then speaks to how the influx of private equity into healthcare is impacting exit planning and a variety of issues that exit agreements often cover. Finally, Jason covers what is typically involved to incorporate exit plans into the legal documents of a practice and why having a solid exit…
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May 26, 2022
Season 2 Recap: An Executive Summary of All 20 Episodes
In this 21st and final episode of Season 2, David recaps the season’s 20 episodes. He briefly summarizes each episode and highlights a pearl or two from each. This can serve as a helpful reminder for listeners who have heard all 20 episodes to revisit ones that they found most valuable, and can motivate those who missed any episodes to visit our podcast page and listen during the show’s hiatus.
Look for new episodes in August when the Wealth Planning for the Modern Physician podcast resumes with Season 3!
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May 12, 2022
All Things ASC Featuring Attorney Jason Greis
Listen in as David chats with nationally recognized healthcare attorney Jason Greis about all things related to ambulatory surgery centers (ASCs). Jason provides an overview of his firm and practice and then outlines some benefits of ASC ownership for physicians, along with some trends he is seeing in the marketplace.
Jason then explains the restrictions that can limit ASC involvement for physicians and describes the types of doctors or groups that may not be a good fit for ASC ownership. David and Jason then discuss four common pitfalls physicians might encounter when starting a new ASC, how payors are dealing with ASCs, and what Jason sees in terms of joint ventures these days.
Jason then speaks to financial returns for an ASC, including ROI and valuation multiples, and concludes with pearls of advice for physicians considering an ASC launch and those already involved with one.
You can find show notes and more information by visiting www.physicianswealthpodcast.com.
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Apr 28, 2022
How Private Practices Can Improve Their Payor Contracts with Brett Spark
Listen in as David chats with Brett Spark, the President of Aroris, a healthcare consulting firm. Brett outlines his career path in various areas of healthcare, from large institutions to CEO of small private practices, and his decision to create Aroris and become an entrepreneur.
Brett then explains where he sees the most common payor contract pitfalls in private practices and why a review of such contracts – to understand what a practice has as baseline – is so critical. He also describes how their process involves a full discovery “diagnostic” of all payor contracts before even entering into negotiation.
Brett covers his firm’s approach to negotiation with payors and Aroris can create leverage for better economics. He also dispels some common myths physicians have about payors and how to deal with them.
Brett and David then discuss Aroris’s work in the area of practice valuations -- helping practices improve their contracts before a possible sale, as well as assisting…
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Apr 14, 2022
Tax Update & The Billionaire's Tax Tactic You Can Use
This episode focuses the timely topic of taxes, as it is released on April 14. OJM Group partner and CPA Carole Foos joins David to talk taxes.
David starts by turning the mic over to Carole for an overview of the latest developments in tax proposals from the Biden Administration, which recently released its 2023 budget proposal. Carole covers the latest on C corporations, S corporations SALT limitations, capital gains and income tax rates.
David then examines one element of the Biden proposal – the “Billionaire’s tax” – and explains how the super-wealthy use one tax strategy to avoid capital gains taxes on appreciated assets. He shares a few examples and quotes from articles, and then explains the strategy: Buy, Borrow, Die.
David then outlines four ways physicians can use “Buy Borrow Die” in their own planning, including ways he has implemented the strategy for himself.
Carole and David then conclude by encouraging all listeners to focus on their 2022 tax planning e…
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Mar 31, 2022
Entrepreneurship, Wealth Management, and Government Involvement with Dr. John Prunskis
In this episode, pain management specialist Dr. John Prunksis joins David to discuss his career path, the significant growth of this practice, and his involvement with the Lithuanian Parliament and U.S. government.
Listen in as John first explains how he became involved with the Lithuanian Parliament and what he helped accomplish as a member there. John and David then discuss John’s path into pain management from anaesthesia, the challenge of creating a pain-centered private practice early on, and the value he gained from joining a CEO/business owner study group.
Next John shares his approach to personal wealth management, including some of the books that shaped his thinking on the subject and the importance he sees in using a fiduciary advisor.
David and John then discuss John’s involvement with the Department of Health and Human Services, and John shares how his entrepreneurial practice has enjoyed hyper-growth in the last few years, while eschewing private equity.
Finally, J…
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Mar 17, 2022
Insights from Executive, Entrepreneur & Consultant Louis Frisina, MBA
Listen in as David chats with former biotech corporate executive, multiple-time entrepreneur and medical practice consultant Louis Frisina. They begin by discussing Louis’s career path, from embarking on studies leading to both law and medicine and then shifting to a business career as a management consultant.
Louis then walks listeners through his biotech career – starting as an executive at a Swiss multi-national firm and then to Fisher Scientific – eventually deciding to leave the C-suites and join a small startup… and then another.
Louis then explains why he wanted to enter the field of aesthetic medicine and how he ended up working with physicians and medical practices as a consultant.
Finally, Louis provides a few insights on the best practices he sees in private medical practice and his current focus on the growing trend of regenerative medicine.
You can find show notes and more information by visiting www.physicianswealthpodcast.com.
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Mar 3, 2022
Insights A Few Years Beyond a Private Equity Transaction with Dr. Steve Hamilton and CEO Andy Blankemeyer
Listen in as David chats orthopaedic surgeon Dr. Steve Hamilton and practice CEO Andy Blankemeyer as they discuss what they have learned a few years out of a private equity investment into their practice – Beacon Orthopaedics and OrthoAlliance.
After Steve and Andy initially explain their roles at the practice and the growth they have enjoyed in recent years, David discusses this business journey with them, beginning with how they came to consider a private equity partner following initial skepticism.
Steve and Andy then explain the challenges that high growth has presented, as a physician working in the practice and CEO running the practice. They chat with David about the importance of culture fit, flexibility, physician autonomy, the challenges COVID presented and more.
Finally, Steve and Andy impart some lessons learned and give advice to other physicians and practices considering private equity transactions.
You can find show notes and more information by visiting www.physici…
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Feb 17, 2022
Improving How You Work With Your People with Frank Maselli
Listen in as David chats with author and consultant Frank Maselli. They begin by discussing Frank’s career path, from the military to Wall Street to being a speaker, author and trainer.
They then examine what Frank thinks about assessment tests and how he approaches them. Frank then explains the “3-part mind” and how it impacts interactions with your team. Next, Frank explains the Kolbe A test and how he uses this to evaluate teams. David and Frank then chat about how this evaluation worked at OJM Group.
Finally, Frank gives some advice about how to hire the right person for the job and the kind of work he does with organizations to get the most out of the people they already have.
You can find show notes and more information by visiting www.physicianswealthpodcast.com.
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Feb 3, 2022
Anatomy of A Mission-Focused, Award-Winning Practice with Dr. Benjamin Domb
In this episode, orthopaedic surgeon Dr. Benjamin Domb joins David to discuss his career path, running a large subspecialty practice and the award he and the practice recently won.
Listen in as Ben explains how he always wanted to be a sports medicine orthopaedic surgeon, even though he comes from a family of professional musicians. Ben and David then discuss the financial challenges of physicians during training, Ben’s decision-making process in choosing his first job, and the importance of a “privademic” environment to him.
Next David and Ben discuss Ben’s decision to move his Foundation from the original practice and form a new hip-only clinical practice alongside it. They discuss Ben’s role in his practice, his hiring of a CEO, and the importance of being “mission-focused.”
David then asks Ben about the circumstances around his winning the Ernst & Young Entrepreneur of The Year 2021 Midwest Award. Finally, David and Ben discuss the One Thing he would tell younger p…
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Jan 20, 2022
Medical Practice Mergers & Acquisitions with Attorney Gary W. Herschman
Listen in as David chats with nationally recognized healthcare mergers and acquisitions (M&A) attorney Gary Herschman. Gary begins by describing his firm and practice and then gives some statistics in terms of the number of M&A deals in the medical practice space.
David and Gary then dive into the reasons why a medical practice might consider merging with another practice, becoming an acquirer or being acquired. They then discuss how investors value medical practices, when to involve an attorney, and key success factors. Finally, Gary explains why an accurate understanding of the deals that are out there benefits physicians, even if they decide not to move forward.
You can find show notes and more information by visiting www.physicianswealthpodcast.com.
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Dec 23, 2021
Entrepreneurship, Delivering CME, and Private Investing with David Victor, JD
Listen in as host David Mandell chats with entrepreneur and experienced private investor David Victor. They begin by discussing Victor’s career path, leaving the practice of law to join his father in the startup that became American Education Institute (AEI), where Mandell lectures every year.
They then explore AEI in more depth – what services it offers, why physicians might be interested in it, how COVID forced Victor to transform the business, and why the business may be stronger now than ever before.
Next, Victor explains his approach to investing in private businesses, including a dive into a cannabis-focused real estate project he is excited about today. He concludes with some advice to others looking to invest significantly into private businesses.
You can find show notes and more information by visiting www.physicianswealthpodcast.com.
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Dec 9, 2021
Student Loans 101
Listen in as David chats with student loan expert Ryan Frailich. David and Ryan begin with Ryan’s career path -- from a teacher to human resources professional to Certified Financial PlannerTM with an expertise and certification in student loans (CSLP).
David and Ryan then dive into student loans – discussing Income Driven Repayment plans, the pros and cons of private refinancing, the Public Service Loan Forgiveness program, and various factors that can impact an individual physician’s student loan management strategy.
Finally, Ryan gives his thoughts on how young physicians in practice should think about balancing the desire to pay off student loans with other financial goals.
You can find show notes and more information by visiting www.physicianswealthpodcast.com.
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Nov 24, 2021
Using Cash Balance Plans to Reduce Taxes & Build Wealth with Scott McHenry, FCA, MAAA, MSEA
Listen as David chats with retirement plan expert Scott McHenry. David and Scott talk about Scott’s career path – from a position inside a large firm to the transition to his own firm about 15 years ago.
David and Scott then dive into Cash Balance Plans (CBPs). They discuss how these plans can be more favorable than other qualified plans, such as pensions, profit-sharing plans and 401(k)s, define the type of practice or physician that is a good candidate for a CBP.
They wrap up with key success factors in implementing CBPs, how CBPs can work with 401(k)s, what happens if a CBP is terminated and how Scott and his firm work with physicians and practices throughout the U.S.
You can find show notes and more information by visiting www.physicianswealthpodcast.com.
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Nov 11, 2021
Thoughts from A Clinician, Academic & Leader featuring Dr. Kevin Plancher
In this episode, orthopaedic surgeon Dr. Kevin Plancher joins David to discuss his academic and private practice career, experiences with finance and speaking alongside David at an upcoming orthopaedic meeting.
Listen in as Kevin explains how he ended up in orthopaedics when coming from a family in finance and building a department with other “young guns” in his first job out of training. Kevin then talks about his decision to leave the hospital setting for his own practice after some years.
Next David and Kevin discuss his interest in academics and how Kevin balances his practice responsibilities with two teaching positions at two medical schools. They then chat about a finance course where both David and Kevin will be speaking, as part of the Ortho Summit in Las Vegas in December. Kevin explains why it is important to him to speak with fellow doctors about business and finance.
Finally, David and Kevin discuss the One Thing he would tell younger physicians and the One Thing he…
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Oct 28, 2021
Orthopaedic Experiences: The Navy SEALs to the New England Patriots with Dr. Matthew Provencher
In this episode, orthopaedic surgeon Dr. Matthew Provencher joins David to discuss varied experiences he has had in his career.
Listen in as Matthew explains how he ended up in orthopaedics when his dream of being a Navy pilot didn’t work out. He then explains his experience as a Naval surgeon, taking care of the SEALs, and working on humanitarian missions and what he learned from those positions.
Matthew then chats with David about decision to leave the Navy to become Chief of Sports Medicine at Mass General Hospital, associated with Harvard. He discusses his experiences and special challenges in academic medicine as well as what he learned as team physician for the NFL Champion, New England Patriots.
Matthew also dives into the his move from Boston to Vail to join the Steadman Clinic—a world-renown orthopaedic practice. They chat about the difference in being a part of a private practice and his experience in having that practice recently sold to a private equity firm.
Finall…
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Oct 14, 2021
Financial Management for the Private Practice
Listen in as David chats with CPA and financial consultant Jessica Nunn. David and Jessica discuss Jessica’s initial interest in finance and accounting, including her education and initial jobs with larger firms working with public companies.
David and Jessica then dive into Jessica’s decision to go out on her own to help smaller clients like medical and dental practices and their owners. Then Jessica discusses how she helps practice owner clients today, giving some real examples of challenges that arise and how to improve processes and profitability.
You can find show notes and more information by visiting www.physicianswealthpodcast.com.
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Sep 30, 2021
Expert Insights on Asset Protection with Bo Loeffler, Esq.
Listen in as David chats with author and nationally recognized asset protection attorney Bo Loeffler. David and Bo discuss Bo’s background as a litigator and U.S. Bankruptcy Trustee and how that has helped him as an asset protection attorney. Bo also chats about his experience in representing lottery winners.
David and Bo then dive into a few specific tools often used in asset protection planning, including insurance and exempt assets. They also cover limited liability companies (LLCs) and trusts—discussing the key success factors for each and pitfalls to avoid.
You can find show notes and more information by visiting www.physicianswealthpodcast.com.
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Sep 16, 2021
Alternative Investments, How LLCs Shield Assets & Retiring Well with Dr. David Yanoff
In this episode, orthopaedic surgeon Dr. David Yanoff joins David to discuss varied topics.
Listen in as Dr. Yanoff shares why he initially became interested in medicine and how his military service guided him into orthopaedic surgery. He then explains his sudden departure from his first practice for a new town and how that led to building a thriving practice and owning the building where he practiced.
They discuss this, his process for gradual retirement, and much more, in episode 4 of season 2 of the Wealth Protection for the Modern Physician podcast.
You can find show notes and more information by visiting www.physicianswealthpodcast.com.
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Sep 2, 2021
Tax Planning: The Employee Retention Credit Featuring Carole Foos, CPA
This episode focuses on the timely topic of the Employee Retention Tax Credit (ERC), which many medical practices may be able to take advantage of for significant tax savings. From its origins in the CARES Act in 2020 and the rules that related to it around the PPP loans and more, to the changes recently enacted by Congress as a part of the Consolidated Appropriations Act of 2021 (CAA).
In conclusion, Carole explains what medical practices should be doing now to see if they are eligible for the ERC.
You can find show notes and more information by visiting www.physicianswealthpodcast.com.
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Aug 19, 2021
Personal Branding & Other Business Lessons with Orthopaedic Surgeon Dr. Michael Ast
In the second episode of Season 2, orthopaedic surgeon Dr. Michael Ast joins David to discuss several topics.
Listen in as Michael explains his interest in becoming an orthopaedic surgeon following a college gymnastic career and his early exposure to business and finance. Michael then describes his first job out of training and the unique focus that practice had on pro-active marketing—and lessons he took away from that experience that all doctors can implement.
Finally, Michael summarizes a lecture he gives on personal branding for physicians. He explains several key success factors that physicians can apply to build a strong brand in their community, encourage referrals and build a busy practice.
You can find show notes and more information by visiting www.physicianswealthpodcast.com.
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Aug 5, 2021
The Entrepreneurial Operating System (EOS)
Listen in as David chats with CPA and professional EOS implementer Crystal Faulkner about the Entrepreneurial Operating System and how physicians and practice owners can benefit from using it in their practices or entrepreneurial ventures.
David and Crystal discuss what the EOS is, how it differs from other strategic planning processes, and what the 6 key components of a business/practice are. They then examine the challenge and approach to dealing with people on the team and getting them in the “right seat”. Crystal then covers the importance of culture and how her clients who use the EOS fared during the pandemic.
You can find show notes and more information by visiting www.physicianswealthpodcast.com.
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Jun 24, 2021
21 | The Physician as an Entrepreneur with Jerry Kelsheimer and Ronnen Isakov of Medic Management Group
Listen in as David chats with Jerry Kelsheimer and Ronnen Isakov, President and Managing Director of Medic Management Group, a national “one stop” solution for healthcare management.
David, Jerry and Ronnen examine several aspects of the business of medicine, including ways that Medic Management Group helps physicians and medical practices. They discuss what “thinking like an entrepreneur” means for physicians and the questions entrepreneurial practice owners should ask. The also cover risks inherent to today’s medical practice, exit planning and more.
You can find show notes and more information by visiting www.physicianswealthpodcast.com.
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Jun 10, 2021
20 | Personal Guarantees to Partner Choices: Insights from An Ophthalmology Practice Founder with Desmond McGuire, MD
In this episode, retina specialist Dr. Desmond McGuire joins David to discuss everything from his first exposure to ophthalmology back in high school, as well as how his parents influenced his commitment to saving for retirement. Dr. McGuire and David then review how Desi founded his practice by purchasing it from a few physicians and then examine the risk of signing personal guarantees on investment deals, with Desi sharing a private investment deal he was involved in that did not go as planned.
You can find show notes and more information by visiting www.physicianswealthpodcast.com.
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May 27, 2021
19 | Inflation & Your Investments with Andrew Taylor, CFP®
This episode focuses on a timely economic issue – inflation and its impact on investments. You’ll hear from David, as well as his OJM Group partner, Andrew Taylor, CFP, as they discuss inflation basics and what listeners need to know about its impact in May 2021 and in the coming months.
You can find show notes and more information by visiting www.physicianswealthpodcast.com.
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May 13, 2021
18 | Protect Your Practice & Personal Data From Cyber Fraud with Mark Grosvenor
Listen in as guest host and OJM Group Co-Founder Jason O’Dell chats with Mark Grosvenor, Executive Vice President and Chief Technology Officer for NFP (National Financial Partners).
In his discussion with Jason, Mark covers several important topics for physicians and medical practices, including cyber fraud involved with PPP loans (and practical steps to take to avoid it), what “social engineering” attacks are, what a business should do if they are a victim of cyber fraud. Mark also discusses ransomware and identifies what is typically the weakest cyber security link for a business. Finally, Mark offers tips that individuals and families can use to reduce their risk of hacks and identity theft.
You can find show notes and more information by visiting www.physicianswealthpodcast.com.
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Apr 29, 2021
17 | What Doctors Should Know: The 2021 Legal Update with Healthcare Attorney Brad Adatto
Brad Adatto is a partner at the law firm of ByrdAdatto, a national business and healthcare boutique law firm. As the son of a surgeon, and from a family of many dentists, Brad has a personal connection to the businesses of both medicine and dentistry.
In his discussion with David, Brad covers a number of important issues for listeners, including common compliance red flags in medical and dental private practices, as well as HIPAA, Stark, and anti-kickback rules. Finally, Brad discusses a crucial success factor that every doctor should understand when working with their attorney.
You can find show notes and more information by visiting www.physicianswealthpodcast.com.
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Apr 15, 2021
16 | Don’t Put Your Happiness on Hold with Dr. Jen Haley
Listen in as Dr. Jen Haley joins David to discuss how her upbringing influenced her decision to become a physician, why she shifted specialties during her training, and how a few unplanned significant decisions have shaped her career and financial life. Jen also talks about her Radiance Revealed Podcast and reveals a few important financial habits and philosophies which have allowed her to become financially independent now and practice in a way that fits her lifestyle.
You can find show notes and more information by visiting www.physicianswealthpodcast.com.
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Apr 1, 2021
15 | Career Transitions, Asset Protection & Podcasting with Anesthesiologist Dr. Richard Marn
In this episode, anesthesiologist and fellow podcaster Dr. Richard Marn joins David to discuss various topics.
Listen in as Richard explains his decision to pursue anesthesiology, when he originally planned to be a surgeon, and his choice to leave a large academic institution after many years for solo private practice. They also discuss Richard’s and his wife’s investments in real estate and their search, with some successes and failures, to get tailored asset protection advice.
You can find show notes and more information by visiting www.physicianswealthpodcast.com.
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Mar 18, 2021
14 | Insights on Selling a Medical Practice, with Investment Bankers Clint Bundy & Stewart Carlin
In this episode, David is joined by investment bankers Clint Bundy and Stewart Carlin from The Bundy Group. Clint and Stewart each discuss success factors for physicians looking to sell their practice, merge into larger practices, or even become an acquirer. They also cover a few common mistakes they often see in the medical practice space. Finally, Clint and Stewart tell David the best ways physicians can vet and compensate a potential investment banking firm and the “one thing” each of them would recommend physicians consider if they may sell their medical practice.
You can find show notes and more information by visiting www.physicianswealthpodcast.com.
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Mar 4, 2021
13 | Financial Therapy 101 with Orthopaedic Surgeon Greg Gilot and Your Financial Therapist Erika Wasserman
In this episode, David speaks with Cleveland Clinic Florida orthopaedic surgeon Dr. Gregory Gilot and his collaborator “Your Financial Therapist” Erika Wasserman.
Listen in as Greg outlines his traditional surgical training and career. Greg then discusses his interest in Financial Therapy and decision to pursue academic training in the field while continuing to practice orthopaedics. Erika covers her career journey from IBM to branding consultant to Financial Therapist, where she met Greg in the Kansas State Financial Therapy program.
Greg and Erika then explain the basics around Financial Therapy – what it is, how it differs from typical individual or couples therapy, and how physicians could benefit from a short course of Financial Therapy to alleviate many types of stresses that come with the student loans, the practice of medicine, marriage, etc.
Finally, Greg and Erika describe the process they have developed for physicians and each give one key piece of advice regarding…
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Feb 18, 2021
12 | Taking Time & Taking Risks with Gastroenterologist Entrepreneur Mukul Mehra, MD
In this episode, gastroenterologist and entrepreneur Mukul Mehra, MD joins the program to discuss his career journey and business pursuits.
Listen in as Mukul explains his financial choices on schools to attend, job selection and how he sought the right financial firm to guide him. He and David also discuss how Mukul’s time away from the practice led to insights which culminated in his successful healthcare company and the importance of finding the right mentor in business.
Finally, Mukul gives his advice to physicians—on protecting one’s time and taking risks.
You can find show notes and more information by visiting www.physicianswealthpodcast.com.
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Feb 4, 2021
11 | The Importance of Asset Protection & Other Lessons with Dermatologist-Attorney-Professor David Goldberg, MD, JD
Dr. Goldberg discusses his motivation to become a physician, his experience in joining a private practice after training and the decision to leave that practice and go out on his own. He then explains his decision to go to law school at night and what he took away from that training.
Finally, Dr. Goldberg explains his advice to fellow physicians regarding liability and asset protection and the recent merger of his practice and his new position.
You can find show notes and more information by visiting www.physicianswealthpodcast.com.
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Jan 21, 2021
10 | 2021 Tax Planning with Carole Foos, CPA
As the new year begins and the Biden administration takes office, this episode focuses on the timely topic of 2021 tax planning.
David opens with an overview of two tax-related topics: (1) the improvement of the tax-favored asset class of permanent life insurance by a federal law passed at the end of 2020; and (2) the tactic of timely tax loss/gain harvesting – which should be implemented throughout the year, not just in the fourth quarter.
You can find show notes and more information by visiting www.physicianswealthpodcast.com.
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Jan 7, 2021
9 |The Value of Specialization, with Entrepreneur & Orthopaedic Surgeon Scott Faucett, MD, MS
In this episode, sports medicine orthopaedic surgeon Dr. Scott Faucett, MD, MS joins the podcast to discuss his career path, decisions concerning career and finances, and his entrepreneurial ventures in medically-related businesses.
Listen in as Scott explains his background in finance, from both his family and college education and his fascinating master’s program at Dartmouth, where he trained in many management areas related to medicine. He and David also discuss Scott’s various job decisions and his learned importance on working with specialists, both in his personal wealth planning and in launching new ventures. David and Scott then cover lessons Scott has learned as an entrepreneur.
You can find show notes and more information by visiting www.physicianswealthpodcast.com.
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Dec 24, 2020
8 | Leveraging Today’s Low Interest Rates, Including The Use of Premium-Financed Life Insurance, with Jason M. O'Dell, MS, CWM
This episode focuses on a powerful wealth planning opportunity for physicians that is time-sensitive -- leveraging today’s historically low interest rates. You’ll hear from David, as well as his OJM Group partner, Jason O’Dell, MS, CWM, as they discuss techniques for leveraging low interest rates in a number of wealth planning areas.
David discusses three ways to leverage such low rates and then introduces Jason to discuss premium-financed life insurance, one technique that has increased attractiveness today.
You can find show notes and more information by visiting www.physicianswealthpodcast.com.
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Dec 10, 2020
7 | Insights From a Spine Surgeon-MBA-Practice Executive with Isador Lieberman, MD, MBA
In this episode, Orthopaedic Spine Surgeon Isador Lieberman, MD, MBA joins the podcast to discuss his career path from Toronto to Cleveland to South Florida to Dallas, including academic positions, clinical work and administrative responsibilities.
Listen in as Isador explains why he sought out an MBA while in practice at the Cleveland Clinic and lessons he learned running orthopaedic departments and, currently, the Texas Back Institute. He and David also discuss entrepreneurial opportunities that physicians can leverage, as well as Dr. Lieberman’s founding of, and continuing work on, the Uganda Spine Surgery Mission.
You can find show notes and more information by visiting www.physicianswealthpodcast.com.
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Nov 26, 2020
6 | The Financial Life of a Two-Physician Couple with Drs. Robin and Evander Fogle
Today we have two guests joining the show: Drs. Robin and Evander Fogle, from Atlanta, Georgia. Robin is a Reproductive Endocrinology and Infertility Specialist, while Evander is an Orthopaedic Surgeon. In this episode, we discuss their stories of how they met, and their medical training paths across the U.S. (and Evander’s stint as staff surgeon at Guantanamo Bay, Cuba.)
We focus most of the discussion on their challenges of making financial decisions as a couple and raising a family with busy practices – including the differences in how Robin deals with money vs Evander, yet how they make it work. They touch on buying that first house, savings vs spending, budgeting, the value of getting a professional’s input, the importance of delegation and more.
You can find show notes and more information by visiting www.physicianswealthpodcast.com.
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Nov 12, 2020
5 | Marketing & Operational Pearls with Tim Sawyer, President of Crystal Clear Digital Marketing
Tim Sawyer is the President and Co-Founder of Inc. 500 Company Crystal Clear Digital Marketing. He is a highly regarded motivational speaker, author and practice management consultant within the medical industry.
Listen in as Tim explains what he has learned from running his own business, including his mistakes, and what his advice would be for physicians in private practice or with entrepreneurial aspirations. You will learn the important difference between abdicating and delegating, how to increase productivity by updating your database and more.
You can find show notes and more information by visiting www.physicianswealthpodcast.com.
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Oct 29, 2020
4 | Moving From an Employed Position to Buying a Private Practice and Beyond with Plastic Surgeon Dr. Jonathan Kaplan
A second-generation physician, Jonathan explains why he became a plastic surgeon, his background in getting a master’s degree in public health, and his choice to become an employed physician out of fellowship. He and David discuss Jonathan’s decision to buy a private practice in San Francisco and everything that was involved in that transaction, including his use of an SBA loan and creation of a business plan. Jonathan then discusses the areas of wealth planning he handles himself, as well as the areas he delegates. Finally, Jonathan and David chat about why he created BuildMyBod, a tool that strives to create price transparency in health care. Jonathan covers what this new venture offers physicians and valuable lessons he has learned from this business.
You can find show notes and more information by visiting www.physicianswealthpodcast.com.
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Oct 1, 2020
3 | The Business of Medicine and Success Factors for Doctors Working with Lawyers with attorney Michael Byrd
Michael S. Byrd is a partner at the law firm of ByrdAdatto, a national business and healthcare boutique law firm. As the son of a doctor and entrepreneur, Michael has a personal connection to both business and medicine, and he has blended these life experiences to become a leading advocate for doctors and dentists throughout the United States. Today he joins the show to share his advice for any physicians looking to become involved in entrepreneurial activities, including running a private practice.
Listen in as Michael shares where physicians tend to go wrong when it comes to legal issues and how “$5 problems” often escalate to become “$50 solutions.” Michael also discusses success factors that every doctor should be aware of when working with attorneys.
You can find show notes and more information by visiting www.physicianswealthpodcast.com.
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Oct 1, 2020
2 | Lessons from a Neurosurgeon-Attorney-CEO with Jeffrey Segal, MD, JD
Dr. Jeffrey Segal is a board-certified neurosurgeon, attorney and founder of Medical Justice, a physician-based organization focused on keeping doctors from being sued for frivolous reasons. He is also the founder of eMerit, which helps doctors protect and preserve their reputations—particularly online. Jeff joins the show today to discuss his journey from physician to CEO to attorney to CEO.
Listen in as he explains what it takes to launch a venture and why there are always lessons to learn from starting one—even if you fail. You’ll discover the importance of creating a great team around you—whether in terms of staff or advisors, how managing your online presence can help you not only overcome bad reviews but also positively add more patients, and Jeff’s advice for young physicians starting out.
You can find show notes and more information by visiting www.physicianswealthpodcast.com.
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Oct 1, 2020
1 | Job Choices, Financial Modeling and Investing – Lessons So Far from a Millennial Surgeon with Dr. Sanjeev Bhatia
Welcome to the Wealth Planning for the Modern Physician podcast, where your host, David Mandell, JD, MBA addresses the most common concerns surrounding financial freedom and shares his tips for gaining independence. Listen in as David speaks with physicians, thought leaders, and industry experts about the steps they took to secure their financial futures, and lessons learned through their careers.
In this opening episode, Sanjeev Bhatia, MD, joins the show to discuss investing, making informed job decisions, and more. You will learn the importance of viewing investing as a long-term game (and not being discouraged if you lose money in the beginning), why we must be careful not to overanalyze ourselves, and why the first job you take is not necessarily your perfect job.
You can find show notes and more information by visiting www.physicianswealthpodcast.com.
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Sep 23, 2020
Wealth Planning for the Modern Physician: A Podcast Trailer
Listen in for a hint of what's to come from the Wealth Planning for the Modern Physician podcast!
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