PODCAST

Wealth Planning for the Modern Physician

David B. Mandell, JD, MBA

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!

How Private Practices Can Improve Their Payor Contracts with Brett Spark
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 private equity and other investors with evaluation of a practice’s current contracts. Finally, Brett explains how medical practices typically get started with Aroris, what the firm charges for their discovery phase, and how their success fee on negotiation is simply a percentage of the additional revenue generated over baseline. He also clarifies that Aroris is actually synergistic (and not competitive) with billing/coding/collection firms. David concludes with an offer for listeners to arrange a consultation with Brett and Aroris. You can find show notes and more information by visiting www.physicianswealthpodcast.com.