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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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. Shammi then shares what he is learning from the “business side” of medicine, as he builds out a multi-state medical platform for kidney health, and describes the value CEOs see in physicians who can communicate well and know their field of medicine intimately.  Next, David gets Shammi’s insights on wealth management, including building the right advisor team and why to potentially change advisors as you grow, and Shammi concludes with his three pieces of advice for fellow physicians, especially those starting out. Learn more about our guest, including additional show notes and more, by visiting www.physicianswealthpodcast.com.

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 episode concludes with Selene summarizing a lecture he often gives to physicians on work-life balance and offering his one piece of advice for young physicians. Learn more about our guest, including additional show notes and more, by visiting www.physicianswealthpodcast.com.

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 visiting www.physicianswealthpodcast.com.

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 and using professional advisors, and what he has learned so far. Charlie concludes with his one piece of advice for fellow physicians. Learn more about our guest, including additional show notes and more, by visiting www.physicianswealthpodcast.com.

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 for decades. David explains why this case puts some risk around relying on LLCs in Delaware for protection and contrasts the problematic Delaware case with two cases involving Ohio LLCs, which strengthen the protections Ohio provides. David concludes with the details of an IRS-related LLC case involving a business leasing its real estate from a related LLC, and explains how that case demonstrates demonstrating the importance of following legal formalities. Learn more about our guest, including additional show notes and more, by visiting www.physicianswealthpodcast.com.

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 more, by visiting www.physicianswealthpodcast.com.