Show cover of Wealth Planning for the Modern Physician

Wealth Planning for the Modern Physician

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!

Tracks

Negotiating The Contract You Deserve with Ethan Nkana, JD, MBA and Dr. Erica Mathieu (Part 2)
Listen in to this continuing episode as host David Mandell sits down with Ethan Nkana, JD, MBA, founder of Rocky Mountain Physician Agency and his client, Dr. Erica Mathieu, Chief Medical Officer at Primary Health Solutions.  Here, in part two of this two-episode interview, David begins the discussion with Erica, looking at her situation as a case study – first discovering what her frustrations were with her then-present job, how she found Ethan to help her, and their process of renegotiating her employment contract over the ensuing months. They focus on key success factors, such as leverage through other job offers and the timing of negotiations. Learn more, including additional show notes, links, and more, by visiting physicianswealthpodcast.com.
31:44 5/16/24
Negotiating The Contract You Deserve with Ethan Nkana, JD, MBA and Dr. Erica Mathieu (Part 1)
Listen in as host David Mandell sits down with Ethan Nkana, JD, MBA, founder of Rocky Mountain Physician Agency and his client, Dr. Erica Mathieu, Chief Medical Officer at Primary Health Solutions. In part one of this two-episode interview, David begins the discussion with Ethan, covering his background in law and as a hospital administrator, where he used to negotiate physician employment contracts from the employer side. He explains his agency’s approach to contract negotiations in representing doctors and the common misconceptions physicians believe which hold them back in getting better deals.    Erica adds to the conversation the physician perspective, commenting that many doctors have a mindset that believes the employer’s statement that contract terms are non-negotiable, when, in fact, this is not true.   As this initial part of the conversation concludes, Ethan also emphasizes the crucial success factor of having other quality offer(s) on the table when negotiating your next contract. Learn more, including additional show notes, links, and more, by visiting physicianswealthpodcast.com.
22:40 5/2/24
Know Your Numbers with CPAs Chelsea Dorfeld & Mary Kathryn Williamson
Listen in as host David Mandell chats with two CPAs from the firm Aprio who specialize in serving medical and dental practices. They share insights on managing finances, increasing profitability, and understanding key numbers in a healthcare practice. The discussion covers the importance of understanding financials, key performance indicators, and strategies to increase profitability in a healthcare practice. David, Chelsea and Mary Kathryn also cover the impact of staffing costs, the potential benefits of fee-for-service models, and the importance of regular financial reviews. Key Takeaways: Understanding, analyzing, and managing financial numbers are key to optimizing a medical practice's profitability. Regularly evaluating and adjusting fees is crucial for practices that have control over what they charge. Proactive, forward-looking advice is more beneficial than mere tax preparation. Learn more, including additional show notes, links, and more, by visiting physicianswealthpodcast.com.
37:45 4/18/24
Better Methods for Hiring Staff with Dr. Mike Neal
Listen in or watch as podcast host David Mandell sits down with optometrist Dr. Mike Neal.  David centers this discussion on the challenges of hiring within medical practices and how Dr. Neal's experiences with hiring difficulties in his own practice led him to create Build My Team, a service designed to assist medical practices in overcoming staffing challenges. David and Mike initially cover common mistakes in the hiring process, such as relying too heavily on resumes and interviews, which, in Mike’s experience, often do not accurately reflect a candidate's capabilities or fit for a position. David then asks Mike to explain the importance of using assessments to identify a candidate's natural talents and strengths, a strategy inspired by Mike’s research on the hiring practices at companies like Disney and the Four Seasons. Mike argues that traditional hiring methods are inefficient and can lead to costly turnover, advocating for a more strategic approach that prioritizes quick decision-making and the identification of candidates who are inherently suited for specific roles. David also asks Mike to touch base on the impact of AI on modern job application processes on hiring, including the challenges employers face in navigating a landscape where candidates can apply to thousands of jobs with a single click. The episode concludes with Mike offering advice to practice owners on improving their hiring processes and adapting to the changing dynamics of the job market. Learn more, including additional show notes, links, and more, by visiting physicianswealthpodcast.com.
34:20 4/4/24
Maximizing Practice Revenue: Transforming Idle Office Space into Profit with Shannon Seeberan
Listen in as host David Mandell interviews Shannon Seeberan, the co-founder of CloudMedSpas, a platform that enables physicians and medical practitioners to maximize practice revenue by monetizing their unused medical space. The discussion starts with Shannon's career, as she explains how she transitioned from publishing and advertising to aesthetic medical practice growth, leveraging her deep understanding of the business side of medicine—a passion influenced by her family background in healthcare. Shannon highlights the challenges many physicians face in managing the business aspects of their practices, such as staff management, efficiency, and planning for future growth. Shannon's tells David how her work prior to CloudMedSpas primarily involved consulting with physician-owned practices to improve their business operations, emphasizing the integration of aesthetic services to enhance revenue. Shannon then shares her passion for supporting female entrepreneurship through pro bono consulting, highlighting the synergies between this work and her role at CloudMedSpas. Shannon then explains to David and the audience the business pivot from Vansanity to CloudMedSpas and its broader application, allowing physicians of all types to monetize underutilized space by renting it out to aesthetic practitioners.  Shannon provides specific examples of how different types of healthcare providers, including dentists and gastroenterologists, have successfully integrated this model into their practices. In conclusion, Shannon encourages interested listeners to reach out for more information on how CloudMedSpas could potentially benefit their practices. Learn more, including additional show notes, links, and more, by visiting physicianswealthpodcast.com.
36:55 3/21/24
Insights from A Surgeon, Team Physician & Entrepreneur with Dr. Brian Cole
Insights from A Surgeon, Team Physician & Entrepreneur with Dr. Brian Cole Listen in as host David Mandell speaks with orthopedic surgeon Dr. Brian Cole. David and Brian begin the discussion with an overview of Brian’s career journey, his decision to earn an M.B.A. and his thoughts on the importance of business acumen in the medical field. David asks Brian about the unique structure of his practice and academic work and then his experience working as team physician for a number of Chicago’s professional sports teams – both the pros and the cons. Brian and David then chat about Brian’s involvement in healthcare-related businesses and why he focuses on business activity that relates to what he is doing medically.  They also discuss Brian’s leadership roles in professional societies, including what his advice is for the young physicians he trains or speaks to on career, financial, and business matters. Finally, Brian tells David and the audience about his own podcast, Sports Medicine Weekly. Learn more, incluing key takeaways and insights, as well as being able to listen to this and past episodes by visiting www.physicianswealthpodcast.com.
48:22 3/7/24
A Deep Dive into Medical Practice M&A With Clint Bundy and Matt Ebbel (Part 2)
In the second part of the podcast, host David Mandell continues his conversation with investment banker Clint Bundy and private equity principal Matt Ebbel, focusing on the factors that contribute to successful mergers and acquisitions (M&A) in the healthcare sector, including medical, dental, and veterinary practices. They delve into what makes a practice an attractive acquisition target, the importance of cultural and strategic alignment, and future trends in healthcare M&A. Matt Ebbel emphasizes the importance of considering the "day after" a sale, where physicians might find themselves with new responsibilities and a change in their work dynamics. He stresses the need for ownership alignment, candid dialogues about success, and the importance of evaluating the financials, doctor and staff retention, and the culture of a practice. Red flags include a lack of alignment, high turnover, and compliance issues. Ebbel also touches on the importance of setting realistic expectations regarding income adjustments post-acquisition to ensure a fair and sustainable deal and the value of physicians working with a financial advisor to see how a deal impacts their personal financial goals. Clint Bundy outlines the "three legs of the stool" approach to evaluating practices: stability, profitability, and growth, with scale as a possible fourth factor. He emphasizes that while scale is beneficial, it's not a must-have for a practice to be considered strong. Bundy also highlights the necessity of running a competitive process to ensure the best offers for a practice, stressing the importance of certainty to close alongside the financial offer. Both guests agree on the critical role of cultural fit and strategic alignment between the acquiring and acquired entities. They advise practices to conduct thorough due diligence on potential partners, considering factors like the platform's resources, commitment to medical quality, and the investment partner's track record and vision for leveraging technology. Looking ahead, both Bundy and Ebbel express optimism for the M&A market in healthcare, despite recent macroeconomic challenges. They anticipate continued interest from private equity and possibly an increase in activity as market conditions stabilize. Ebbel specifically mentions potential public offerings by major players as a future benchmark that could spur more interest in the sector. In summary, the podcast provides valuable insights into the complexities of healthcare M&A, offering practical advice for practices considering a sale or partnership. The discussion underscores the need for strategic planning, thorough due diligence, and alignment of values and goals to ensure successful transactions in the ever-evolving healthcare landscape. Learn more, incluing key takeaways and insights, as well as being able to listen to this and past episodes by visiting www.physicianswealthpodcast.com.
33:27 2/22/24
A Deep Dive into Medical Practice M&A With Clint Bundy and Matt Ebbel (Part 1)
Listen or watch as host David Mandell takes a deep dive into healthcare mergers and acquisitions (M&A), with investment banker Clint Bundy and private equity firm principal Matt Ebbel.  They discuss the advisory and strategic roles they play, aiming to maximize value and find the best partnerships for business or practice owners looking to sell or raise capital. Bundy shares insights into the process of advising healthcare practices, emphasizing building trust, understanding client objectives, and assessing the market for potential transactions. He provides case studies to illustrate the varied scale and scope of deals he has worked on, ranging from solo practices to multi-location consortiums. Ebbel offers a private equity perspective, highlighting the importance of selecting the right partners and platforms for growth or sale, especially in a changing economic landscape influenced by interest rates and market consolidation. He stresses the significance of operational excellence and strategic planning in achieving successful outcomes in healthcare M&A. The discussion also touches on the challenges and opportunities within the healthcare sector, including regulatory hurdles, the impact of economic factors on transaction viability, and the strategic importance of aligning with partners who can add value beyond capital. Learn more, incluing key takeaways and insights, as well as being able to listen to this and past episodes by visiting www.physicianswealthpodcast.com.
29:52 2/8/24
Adding A Weight Loss Program to Help Patients and Build Profits with Dr. Jonathan Kaplan
Listen in as host David Mandell speaks to returning guest plastic surgeon Dr. Jonathan Kaplan about adding a weight loss program to a medical practice – both for the patient’s health and happiness and the practice’s economics. Jonathan begins the discussion with an overview of the current popular weight loss medications Ozempic/Wegovy (semaglutide) and Mounjaro/Zepbound (tirzepatide) and how they work. He then explains how his practice began consideration of a weight loss program for patients – because of both BMI limitations of patients who wanted surgery and due to suggestions from practice staff. David and Jonathan then delve into the various elements a physician must consider when evaluating and then implementing a weight loss program for this/her patients., including how to scale it as a subscription business model. The podcast concludes with a discussion of how the same business process of evaluating and implementing a weight loss program could be applied by a physician to other modalities, including hormone replacement, IV therapy, cosmetic therapies and more. Learn more, incluing key takeaways and insights, as well as being able to listen to this and past episodes by visiting www.physicianswealthpodcast.com.
45:26 1/25/24
Hot Topics in Wealth Management For 2024 with OJM Advisors Bob Peelman, Adam Braunscheidel, and Andrew Taylor
Listen in as host David Mandell chats with Certified Financial Planners Bob Peelman, Adam Braunscheidel, and Andrew Taylor from the OJM Group on three wealth planning topics that are relevant for 2024. David begins by discussing with Bob Peelman the basics of 529 plans, including the two types of plans, tax benefits, planning flexibility factors and more.  Bob also delves into the new rules coming into effect in 2024 regarding the Roth IRA transfer provisions for unused 529 plan balances. David then turns to Adam Braunscheidel to discuss HSAs.  He explains the importance of having a High Deductible Health Plan (HDHP) to qualify for an HSA and the potential of HSAs as a retirement savings vehicle, taking advantage of their unique triple tax benefit. Adam discusses the tactic of using HSAs for long-term savings by paying current medical expenses out-of-pocket and reimbursing oneself later from the HSA through tax-free distributions. Finally, David chats with Andy Taylor about the question of whether to invest in bonds or hold cash, particularly in the context of recent interest rate fluctuations and inflation rates. Andy explains the inverse relationship between interest rates and bond prices, and how this impacts investment decisions and how the environment as they record the podcast (4th Quarter 2023) is much different than it was 6, 12, or 18 months ago. Learn more, incluing key takeaways and insights, as well as being able to listen to this and past episodes by visiting www.physicianswealthpodcast.com.
38:36 1/11/24
Immigrant Origins, Entrepreneurship, and the Importance of Mindset with Dr. Madan Kandula
Listen in as host David Mandell interviews Dr. Madan Kandula, ENT surgeon, entrepreneur, and CEO of Advent, which he has grown to over 250 team members across 18 locations, serving over 1500 new patients monthly. Dr. Kandula shares his background, including a brief description of his family's immigrant story from India, emphasizing the struggles his parents overcame and how this impacted his life and career.  The conversation shifts to Dr. Kandula's career journey, starting with his first job out of training, where he initially joined a solo practice in Milwaukee which went terribly, eventually motivating him to start his own practice, Advent. He highlights the importance of providing outstanding patient care and building a strong referral network, and how these principles contributed to the growth of his practice. Dr. Kandula then delves into the decision to partner with a private equity firm in 2020, a move aimed at expanding and professionalizing the organization. He emphasizes the importance of coming into such partnerships from a position of strength and how his unique approach to healthcare made Advent a successful venture. The podcast concludes with Dr. Kandula stressing the significance of mindset in both personal and professional growth. He encourages physicians to recognize their power and potential, and to develop a strong, positive mindset through daily practice and habits. Learn more, incluing key takeaways and insights, as well as being able to listen to this and past episodes by visiting www.physicianswealthpodcast.com.
41:01 12/21/23
Entrepreneurship & Venture Funding Lessons with Carey Ransom
Listen in as David chats with Carey Ransom, a serial entrepreneur, venture capitalist and angel investor. Carey begins by explaining how growing up around a family business fostered his entrepreneurial streak. Carey then discusses what initially captures his interest in an entrepreneurial venture and why he often is skeptical of founders who are in love with their solutions. He and David also spend time delving into the total addressable market (TAM) for a business and why Carey thinks it is imperative to cut that down realistically. Next Carey tackles the topic of boards for startup companies, as he has served on many of them. He shares that, as a board member or investor, the #1 thing he looks for from the management team is how they learn and adjust. David and Carey then discuss Bonus, one of the ventures Carey is involved with today. Carey concludes with his big-picture advice to physicians who may be considering a jump into full-time or part-time entrepreneurial ventures. Learn more and listen to this and past episodes by visiting www.physicianswealthpodcast.com.
43:46 12/7/23
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.
37:20 11/23/23
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.
34:24 11/2/23
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.
43:26 10/19/23
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.
13:10 10/5/23
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.
35:37 9/21/23
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.
36:23 9/7/23
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.
38:06 8/24/23
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.
45:28 8/10/23
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.  
46:03 7/27/23
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.
41:12 7/13/23
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 with money differently. Even those who aren't married to physicians can benefit from the Fogles’ experience and candor as they share their challenges of financial life as a married couple and their varied approaches to money, investing and reaching their long-term financial goals.  Ideas Worth Sharing “A budget doesn’t really work if you don’t follow it.” “Once I realized I needed to be prioritizing my time and leaving things for other to help me with, my life got a lot simpler.” Learn more and listent to this and past episodes by visiting www.physicianswealthpodcast.com.
45:45 6/29/23
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 as entrepreneur, attorney and physician make for interesting content for physicians of all specialties.  Ideas Worth Sharing “The online world is what makes or breaks a practice.” “No business, even if it fails, ia complete and total failure. Lessons are learned that can be applied later.” Learn more and listent to this and past episodes by visiting www.physicianswealthpodcast.com.
39:40 6/15/23
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.  
26:47 6/1/23
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, by visiting www.physicianswealthpodcast.com.
35:10 5/18/23
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 transaction. Learn more about our guest, including additional show notes and more, by visiting www.physicianswealthpodcast.com.
39:23 5/4/23
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 lessons learned from operating a platform with varied offices around the country and recruiting or acquiring new practices. The episode concludes with Erik offering some high level advice for colleagues. Learn more about our guest, including additional show notes and more, by visiting www.physicianswealthpodcast.com.
43:20 4/20/23
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 doctors have around banking and debt, and offers his advice to physicians when it comes to tackling financial issues. Learn more about our guest, including additional show notes and more, by visiting www.physicianswealthpodcast.com.
38:45 4/6/23
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 about our guest, including additional show notes and more, by visiting www.physicianswealthpodcast.com.
14:51 3/23/23