The Prosperous Doc

Spaugh Dameron Tenny

The Prosperous Doc Podcast (formerly the White Coat Wellness Podcast) is a show for doctors who are ready to improve their overall wellness in every aspect of life. In each episode we highlight real-life stories from physicians and dentists to inspire you to become a prosperous doc yourself and achieve personal, professional, and financial wellness. If you would like to know more about the Prosperous Doc show, find show notes, and learn more about our host, Shane Tenny, visit bit.ly/ProsperousDoc. SDT Disclosure: https://bit.ly/2Xc2mAU read less
Health & FitnessHealth & Fitness

Episodes

Giving Back and Finding Fulfillment Through Medical Missions With Dr. Brian Scannell
3d ago
Giving Back and Finding Fulfillment Through Medical Missions With Dr. Brian Scannell
Healthcare access is not equal across all countries around the world. Pediatric orthopedic surgeon Dr. Brian Scannell is actively working to address this issue. Recently, he resumed his passion for medical missions, embarking on a journey to provide essential care to underserved communities. In this episode of the Prosperous Doc Podcast, as Dr. Scannell joins host Shane Tenny, CFP®, to share his experiences and insights, offering inspiration for those considering similar humanitarian endeavors. Project Perfect World started in the late 80s with the refurbishment of a medical clinic in Ecuador. Dr. Scannell began volunteering with the group around 2010. At that time, the project’s focus was shifting toward pediatric orthopedics. Now the group organizes twice-yearly missions to the area, providing medical care each spring and fall.“Anytime you're doing mission work, I think of going in and making sure that local surgeons and physicians are involved, making sure that there's good communication, making sure that there is good follow-up for those patients,” Dr. Scannell says. “So it's never something that you go in and you do these big surgeries, and then you're just gone.” The trips have been profoundly fulfilling for Dr. Scannell, both in terms of fighting burnout, reigniting his passion for the profession, and building long-term friendships with the other doctors who travel with him. 💡 Featured Guest 💡Name: Dr. Brian ScannellWhat he does: Dr. Brian Scannell specializes in pediatric orthopedic surgery at OrthoCarolina in Charlotte, NC, and serves as the Orthopedic Surgery Residency Program Director at Carolinas Medical Center Atrium Health. He is currently the Chief of Pediatric Orthopedic Surgery at Levine Children's Hospital Atrium Health. Company: OrthoCarolinaWords of wisdom: “It's one of those things that refills the bucket. There's other things that I do to kind of help refill my bucket. But medicine and healthcare is hard and burnout is real. We all feel that at times. It's a fun, selfless thing that I found that the patients are unbelievably grateful for, and that refills my bucket.”Connect: Website | Project Perfect World 💰 On the Money 💰Top takeaways from this episode Project Perfect World brings surgeons to Ecuador. The initiative was originally started to honor the memory of Bob Simpson’s son, who was killed by a drunk driver. The original projects included assisting medical clinics and slowly became more specialized over time. Dr. Scannell found the organization through peers in the industry who invited him on his first mission around 2010. Education is an important part of the missions. Dr. Scannell explains how the team typically operates with two American surgeons in each surgery, one serving as the primary surgeon and the other focusing on education. Ensuring ongoing communication and follow-up care for patients is an important part of their trips. The team also conducts educational sessions for nurses and local surgeons, creating a supportive environment for skill development and knowledge sharing.The absence of screening protocols results in more surgical needs. Dr. Scannell sees more cases of congenital hip dysplasia, often in older children, which means they may need surgical intervention. He also performs foot and ankle surgeries for clubfoot, something that is rarely seen in the US. Find...
Exploring Career Opportunities in the Pharma Industry for Clinical MDs with Dr. Nerissa Kreher
Mar 29 2024
Exploring Career Opportunities in the Pharma Industry for Clinical MDs with Dr. Nerissa Kreher
Every physician has felt it before: You have a bad day or work is stressing you out, and you start imagining what life would be like if you were doing something else. Most of us shake it off after a good night's sleep, but what do you do if that feeling doesn't go away? You don't necessarily want to leave medicine with all the time you have invested in your education and training. And changing careers doesn't feel simple. Fortunately, the pharmaceutical and biotech industries offer opportunities for you to use your clinical knowledge in a different kind of role. Dr. Nerissa Kreher, MD, MBA, advises physicians on how to make the shift from the grind of seeing patients and doing procedures to working in pharma or biotech.Three different roles comprise the options for physicians looking to land biotech or pharma careers: medical affairs, clinical development, and drug safety or pharmacovigilance. Each role lends itself to different types of practitioners.On this episode of the Prosperous Doc®, our host Shane Tenny, CFP® welcomes Dr. Kreher to discuss how she made the move from the patient room to research. For her, it all started with a pharma rep asking for her resume to pass back to their company. But she thinks there are plenty of other ways to break in.“I’m a big fan of LinkedIn,” she says. “LinkedIn is a great place to not only network — which is critically important to making this transition [to clinical research] — but also to job search.”Compensation for physicians transitioning to the pharma/biotech field starts in the mid-to-upper $200K range, with bonus opportunities and the potential for equity and options. But perhaps the greatest compensation of all for a tired physician? No call. The number of hours physicians spend working on call or during weekends factors into their hourly rate, Dr. Kreher explains. “That’s something that they should translate as well, as compared to just thinking about that annual salary piece.💡 Featured Guest 💡Name: Dr. Nerissa Kreher, MD, MBAWhat she does: Dr. Kreher is the Chief Medical Officer (CMO) of a biotech company and a pediatric endocrinologist. Her move into the pharmaceutical industry occurred early in her career, and she has now accumulated more than 15 years of experience working in biotech and pharma.Company: The Pharma IndustryMDCoachWords of wisdom: “There’s a myth that there’s no stress in the pharma and biotech industry. The stress is still there, but it’s different stress.”Connect: LinkedIn | Website💰 On the Money 💰Top takeaways from this episode Physicians have three roles to choose from. Medical affairs involves presenting research findings to the public and with peers at conferences. Clinical development involves designing and executing clinical protocols and determining efficacy metrics. Finally, pharmacovigilance involves interpreting data related to drug safety. The schedule is more flexible. While working in pharma/biotech isn’t always an even 40 hours, there is no call. You might still expect occasional nights and weekends when meeting a deadline, but it’s much more flexible than a typical practicing physician position. Your skills will transfer. Even without a deep background in clinical research, the skills you bring to patient visits are the same ones you need in research. Dr. Kreher highlights leadership, humility, and communicating medical concepts in lay terms as the skills...
Streamlining Hiring to Maximize Your Practice’s Performance With Dr. Michael Neal
Mar 8 2024
Streamlining Hiring to Maximize Your Practice’s Performance With Dr. Michael Neal
Having a well-oiled team is a crucial piece of any successful business. Medical practitioners running their own practices are no stranger to the impact of employee turnover. In this episode of the Prosperous Doc®, Shane Tenny, CFP®, speaks with Dr. Michael Neal about the importance of building a strong team and hiring and retaining the right people. Dr. Neal practices optometry alongside his wife, Dr. Amy Neal. When they first opened their practice, he began to experience the challenges of developing a team alongside a growing business.“We were approaching hiring team members the wrong way. We were approaching it completely upside down. And unfortunately, we got the results that we deserved because of how we were approaching it,” Dr. Neal says about his first hiring challenges.A desire to streamline the hiring process and evaluate candidates more effectively led Dr. Neal to develop assessments that determine a candidate's suitability for a role and their ability to learn quickly. These assessments are delivered via text message and filter out 97% of applicants, removing a significant administrative burden from the hiring process. This was the starting point of his other business venture, Build My Team, which delivers better people faster. Later in the episode, Shane and Dr. Neal discuss the benefits of bringing in a professional manager to oversee the operations of a medical practice. “It's the team that's providing the care for the bulk of [the time]. If you want to advance in healthcare, one of the ways to do it is to adopt that mindset and bring on these A players,” he says. 💡 Featured Guest 💡Name: Dr. Michael NealWhat he does: As the Chief Executive Officer at Build My Team, Dr. Neal is the face of the company. He founded Build My Team as a result of his own practice’s hiring struggles.Dr. Neal is a practicing optometrist alongside his wife, Dr. Amy Neal, at Lakeside Vision in picturesque Hawley, Pennsylvania. They are celebrating their 20th year of servicing patients in Northeast Pennsylvania. Company: Build My Team and Lakeside VisionWords of wisdom: “I like to grow businesses. That's one of the things I get most excited about. We serve people, we grow, and do as good a job as possible.”Connect: Website 💰 On the Money 💰Top takeaways from this episode Resumes don’t do what you need them to do. Traditional interviews often leave candidates feeling intimidated and unable to showcase who they really are. Dr. Neal did not find success when relying on resumes as the primary tool for hiring, as they do not effectively assess a candidate's potential performance. A shift in approach puts the focus on identifying candidates who can excel in their roles based on their abilities.Streamline hiring with targeted assessments. Dr. Neal developed assessments for candidates to quickly determine their suitability for the role and how fast they can learn on the job. Candidates receive the assessment via text message after applying for a position. He shares that they now reject 97% of applicants. Select from a roster of A players. Build My Team streamlines the hiring process by writing and publishing the job description for the physician, screening applicants, and conducting one-way video interviews with promising candidates. This process reduces costs and saves hiring managers time. Hire candidates who are...
Coaching the Next Generation of Physician Scientists with Dr. Toyosi Onwuemene
Feb 16 2024
Coaching the Next Generation of Physician Scientists with Dr. Toyosi Onwuemene
Physicians go to school to become physicians, right? Well, most of the time that’s true. Sometimes physicians go through all their many years of med school, residency, and fellowship to find that they’re actually more interested in research. Dr. Toyosi Onwuemene is one such physician, choosing to become a clinician researcher. And she thinks there’s room for more doctors like her.“It's very obvious that there's a deficit now that I've done a little bit more research. As clinicians, because you're so immersed in patient care, you're reading the literature, you're interpreting the literature, there's a sense that you're aware of what research is needed, ” Dr. Onwuemene says in regards to moving from a clinician to a researcher. “You can interpret the research, but the gap we have is not recognized [is] how much really needs to come together to be able to be successful as a researcher.”In this episode of the Prosperous Doc®, host Shane Tenny, CFP® welcomes Dr. Onwuemene to discuss her path to becoming a clinician scientist. Dr. Onwuemene views research as an exciting growth opportunity that feeds her curiosity to answer questions to help people improve their health. Recognizing there is a lack of mentors available to help guide clinicians to become clinician scientists, Dr. Onwuemene offers coaching to professionals in the field. She fills the gap for individuals who feel they lack the necessary training or mentoring to succeed in their research. Her ideal coaching client is someone who is early in their career and wants to move research forward but has the opportunity and the ability to lead their own experience. And if it’s not early in their career, it’s not too late. But sooner is better. “From the beginning, start with what you care about,” she says. 💡 Featured Guest 💡Name: Dr. Toyosi OnwuemeneWhat she does: Toyosi Onwuemene, M.D. M.S. is an Associate Professor of Medicine-Hematology at Duke University School of Medicine and a coach, consultant, and speaker. She helps academic clinicians build research programs so that they can thrive in their careers while making a lasting impact. She also hosts two podcasts — Heme Consults for Women of Color in Hematology and Clinician Researcher.Website: https://www.coagcoach.com/ Words of wisdom: “The work we do matters and being able to care for not just the person in front of us but generations beyond them is so powerful, and it's so impactful.”Connect: LinkedIn | Instagram 💰 On the Money 💰Top takeaways from this episode Research can take years to yield actionable results. Academic clinicians need to not only conduct research but also navigate manuscript writing, publication processes, and grant applications. Institutions need to provide protected time and resources for clinician training in research methodologies to allow clinicians to build their skills.Pursuing research can provide both excitement and personal growth opportunities. Despite having to navigate institutional support challenges, Dr. Onwuemene sees opportunity for clinical research to deliver growth and development. It’s a chance to answer impactful questions that can help a lot of people. Bring people to earlier diagnosis. Research gives the opportunity to...
Bedside Manners: What Matters in Patient Communication with Dr. Scott Abramson
Jan 5 2024
Bedside Manners: What Matters in Patient Communication with Dr. Scott Abramson
Studies from the Medical Group Management Association (MGMA) and Healthgrades have confirmed that patients overwhelmingly want their physician providers to not just be smart and technically astute, but to also show compassion, comfort, patience, personality, and bedside manner.“The patient will never care how much you know until they know how much you care.” This quote aptly summarizes today’s episode of the Prosperous Doc®, where host Shane Tenny, CFP® welcomes Dr. Scott Abramson, a retired neurologist who practiced medicine for over 40 years with Kaiser Permanente in Northern California. Dr. Abramson is also the author of a book titled, Bedside Manners for Physicians and Everybody Else: What They Don't Teach in Medical School or Any Other School, which includes stories from his extensive medical experience and from coaching colleagues in the mission of physician communication. Tune in to hear Dr. Abramson talk about “bedside manner”, a central element of patient care. Dr. Abramson also shares his perspective and insights from years of training, including actionable communication tips, and practical takeaways. 💡 Featured Guest 💡Name: Dr. Scott AbramsonWhat he does: Dr. Scott Abramson is a retired neurologist who practiced medicine for over 40 years with Kaiser Permanente in Northern California. He's also the author of the book, Bedside Manners for Physicians and Everybody Else: What They Don't Teach in Medical School or Any Other School. Dr. Abramson has been passionately involved in physician communication and physician wellness endeavors. While retired from neurology, Dr. Abramson remains actively engaged in these pursuits. He has conducted numerous workshops in these areas and has personally coached many physicians. He has developed programs on time management, physician-patient communication, marriage in medicine, burnout, the threatened physician, difficult conversations, storytelling, and his favorites: “The Secret of Happiness” and “What The Great Wisdom of Country Music Can Teach Physicians.” Dr. Abramson also has a YouTube website channel called Doctor Wisdom, where he shares insights and stories from his extensive experience and years of practice. Words of wisdom:  “My hope is that number one, you will develop a better connection with your patients because if they like you, they will connect with you. If they connect with you, they'll trust you. If they trust you, they're gonna follow your advice. If they follow your advice, they're gonna have a better outcome. Number one is better patient outcome. The second thing is better clinician outcome because when you connect with people, when you can do that on a human level and not just, you know, find it, fix it, explain it, go bye-bye, it brings such joy and meaning to your medical practice.”Connect: LinkedIn | Website💰 On the Money 💰Top takeaways from this episode Building connection can benefit patients as well as doctors. Feeling good about...
Preserving Independent Medical Practices with Dr. Christine Meyer
Dec 8 2023
Preserving Independent Medical Practices with Dr. Christine Meyer
Dr. Christine Meyer’s negative experience working as an employed physician in poorly managed medical practices motivated her to become an independent doctor and launch her entrepreneurial career with her husband. The pair believed that they could provide better patient care through their own venture. “I think the movement towards value-based care in medicine has been tremendous and so enjoyable. I know a lot of people feel like it’s a grind, and it’s so hard to meet these metrics and earn these incentives. But what it has done for our practice is truly improve the quality of care that our patients receive,” Dr. Meyer says. In this episode of the Prosperous Doc®, host Shane Tenny, CFP®, welcomes Dr. Meyer to discuss the preservation of independent medical practices and the alarming changes in the medical landscape over the past decade, with many private practices disappearing or being acquired. In 2022, the American Medical Association found that wholly physician-owned practices had dropped from 60% a decade ago to just above 45%. Despite the challenges of running an independent practice, Dr. Meyer can attest to how rewarding it can be. In its early days, the practice was just her, two examining rooms, and a couple hundred patients. Today, her practice includes five physicians, 15 advanced practitioners, and a team of 55 with multiple buildings to support the more than 20,000 patients they are responsible for. “People probably think they need to have some sort of a business degree to run a successful medical practice, and you really don’t,” Dr. Meyer says. “I think it goes back to the patient experience. If you’re a physician and you went into medicine to provide patients with an excellent experience, you can run a successful medical practice.”💡 Featured Guest 💡Name: Dr. Christine MeyerWhat she does: Dr. Meyer is the founder and owner of Christine Meyer, MD and Associates. She was born and raised in New Jersey to first-generation Egyptian parents. She received her Bachelor’s Degree from Rutgers University and then went on to earn her Medical Degree from Hahnemann University School of Medicine (now Drexel University). Dr. Meyer then completed her Internal Medicine Residency at Thomas Jefferson University Hospital and is Board Certified in Internal Medicine. Company: Christine Meyer, MD and Associates Words of wisdom: “Private practice allows you to build a culture in your organization that you are proud to work in.”Connect: Website 💰 On the Money 💰Top takeaways from this episode Bad business management equates to bad patient care. When Dr. Meyer experienced frustration with poor management while working as an employed physician, she saw how poor business management trickled down to affect patients. This is why, when the opportunity arose to venture out on her own as an independent practice, she didn’t hesitate to make the switch. It takes time for a new practice to be sustainable. It took Dr. Meyer about three years to start to see steady and stable growth in her practice. In the early days, she focused on providing excellent care to the initial patients. As her finances got stronger, she was able to expand the team that was seeing patients, which is when the revenue really started to come in. You need to trust someone else with your patients. One of the significant inflection points for Dr. Meyer was bringing on more practitioners to allow the practice to scale. While her first nurse practitioner...
Financial Literacy for Kids: How Dr. Michele Cho-Dorado Became an Author to Help Children Reach for the Stars
Nov 10 2023
Financial Literacy for Kids: How Dr. Michele Cho-Dorado Became an Author to Help Children Reach for the Stars
“Part of my identity was just being a doctor. I never thought I could do things outside of medicine,” says Dr. Michele Cho-Dorado, who wrote a children’s book about financial literacy and founded her own company to spread this knowledge to more children.But Dr. Cho-Dorado didn’t start as an entrepreneur or financial literacy expert. Her own knowledge gap prompted the creative leap.“I was about eight years into practice as an attending and already almost 40. And I just realized, at some point, despite all those years of medical school and training, I had received very little financial education,” Dr. Cho-Dorado explains. On this episode of the Prosperous Doc®, our host Shane Tenny, CFP® welcomes Dr. Michele Cho-Dorado, a pediatric gastroenterologist, Medical Director, author of the children’s book Reach for the Stars, and founder of Bright Futures EDG, which strives to educate and empower children through money knowledge.Dr. Cho-Dorado speaks about her immigrant parents and her upbringing, her work ethic and perseverance, and how, despite it all, she found herself in the dark about money and what to do with it. She set out to become more money savvy and, in doing so, opened the door for personal growth and even more success.Tune in to hear about how Dr. Cho-Dorado took charge of her finances, learned more about creating wealth for herself, and now shares this knowledge with today’s youth.💡 Featured Guest 💡Name: Dr. Michele Cho-DoradoWhat she does: Dr. Michele Cho-Dorado is a pediatric gastroenterologist, Medical Director, and author of the children’s book “Reach for the Stars.” Michele is the founder of Bright Futures EDG, which serves as a platform to share about financial literacy and empower kids to be bold and to think big.Company: Bright Futures EDGWords of wisdom: “Just because I didn't know about it before, doesn’t mean I cannot learn and master it.”Connect: LinkedIn💰 On the Money 💰Top takeaways from this episode Don’t pigeonhole yourself in your work. Dr. Cho-Dorado always considered herself just a doctor. When she became curious about her money and how to make better financial decisions, she got creative. Following those interests and creative drives led Dr. Cho-Dorado to become an author and entrepreneur. Make your money work for you. Physicians typically make good money. Dr. Cho-Dorado learned about different asset classes and how to make her money work for her rather than strictly working for money. In addition to the stock market, she learned about real estate investments, as well as mutual funds, exchange-traded funds (ETFs), and bonds.Teach your kids about money. Shane and Dr. Cho-Dorado discuss practical tips for teaching kids about money. They include being transparent, talking about all things money, introducing concepts, and demonstrating the behaviors and concepts that you are teaching.⚡ Prosperous Insights ⚡[02:56] A late start: Dr. Cho-Dorado shares how she came to write a children’s book about financial literacy while having a professional background in medicine. [08:13] Environmental factors: Whether you grew up with money or were raised in a house where money was scarce, there are always financial messages being taught or picked up. Dr....
Taking Aim at Change: A Doctor’s Approach to Combatting Gun Violence with Dr. David Callaway
Oct 20 2023
Taking Aim at Change: A Doctor’s Approach to Combatting Gun Violence with Dr. David Callaway
“We’re recording this in mid-2023,” host Shane Tenny says. “Already, there have been more mass shootings in our country than there have been days in the year. We're pacing about 330 mass shootings as it's often defined, which is atrocious.”Hearing these numbers is jarring and figuring out how to solve this problem is downright daunting. Where does the solution begin?On this episode of the Prosperous Doc®, our host Shane Tenny, CFP® welcomes Dr. David Callaway to discuss the complex issue of gun violence in America. Dr. Callaway brings a distinctive perspective to the conflict, approaching it from the standpoint of a physician, a veteran, a gun owner, a law enforcement officer, a father, and a leader in his community.  Dr. Callaway is an emergency medicine physician at Atrium Health in Charlotte, North Carolina, the region's only Level I trauma center. He’s been practicing medicine for about 20 years and served as a physician with the United States Navy and the Marine Corps, as well as in Iraq with a mobile surgical unit. After leaving active duty in 2005, Dr. Callaway spent the bulk of his career working on security and violence-related issues with law enforcement and now serves as a sworn Task Force officer with US Marshals. Needless to say, he has extensive experience with guns, violence, and the law. Together, Shane and Dr. Callaway needle through tough gun violence topics. Dr. Callaway shares his beliefs in coalitions and the importance of getting everyone to agree on a single issue.Tune in to hear about Dr. Callaway’s belief in gun safety and gun ownership accountability as two of the first steps to be prioritized in combating gun violence. 💡 Featured Guest 💡Name: Dr. David W. Callaway, MD, MPAWhat he does: Dr. David W. Callaway is a Professor of Emergency Medicine at Atrium Health where he serves as the Director of the Division of Operational and Disaster Medicine and Enterprise Chief of Crisis Operations and Sustainability. Outside of the medical center, Dr. Callaway also serves as the Chief Medical Officer for Team Rubicon, an international disaster response NGO, and as a sworn U.S. Marshal Task Force Officer. Company: Atrium HealthWords of wisdom: “You can’t have a right without responsibility.”Connect: LinkedIn💰 On the Money 💰Top takeaways from this episode Choose the main problem that needs to be solved. When it comes to majorly complex systemic issues like gun violence, Dr. Callaway argues that the first step to solving the problem is getting all sides to agree on and pinpoint the actual issue. Is the issue access to guns? Is it the types of guns? Is it safety rules? For Dr. Callaway, the most important problem is the death rates. Getting all parties to agree on that is pivotal to finding a solution. Don’t be afraid to get involved. Physicians are natural community leaders. People look to them for guidance and reassurance. Dr. Callaway encourages all physicians, regardless of their specialty, to get familiar with their community’s gun and firearm safety and prevention policies.  The government will follow the money. “The government doesn’t lead. It follows, and it follows the money,” says Dr. Callaway. This is why physicians and health care systems are a key part of this fight — health systems have the money. Therefore, physicians need to come together with their communities and take steps to solve this.   ⚡ Prosperous Insights ⚡[02:56]...
9 Terms Every Dentist Should Know Before Selling to a DSO with Kevin Cumbus
Sep 29 2023
9 Terms Every Dentist Should Know Before Selling to a DSO with Kevin Cumbus
Too many dentists leave money on the table. Kevin Cumbus, founder and president of the mergers and acquisitions advisory group TUSK Partners, returns for an encore presentation on how dental practices can understand their options and maximize their valuation before selling to a dental support organization (DSO).In his previous interview, Kevin explained how dentists have more choices than ever for a financial exit from their practice and the importance of evaluating multiple DSOs before committing to a deal. Now, Kevin returns to the Prosperous Doc® podcast to unpack common industry jargon so every dentist can have an informed conversation about private equity and corporate-owned dentistry.In the early 2000s, only dentists were interested in buying dental practices. Now that DSOs backed by private equity have created a more competitive market for dental practices, demand outweighs the supply, driving up prices. Dentists today have an unprecedented opportunity to secure their financial futures — but the devil is in the details. Without understanding the terminology of a DSO’s offer, dentists could end up locked into an unfavorable deal that saddles them with too much risk.“Where you actually realize the value from the sale of your business,” Kevin explains, “is in the enterprise value and how that enterprise value is received through structure. And the structure is made up of a couple of key components.”What are those key components? Kevin joins host Shane Tenny, CFP® to define nine terms related to selling your dental practice  that every dentist should know. From EBITDA to joint venture and holdco equity, Kevin puts economic concepts in layman’s terms so dentists can be prepared before they even start the conversation. .💡 Featured Guest 💡Name: Kevin CumbusWhat he does: Kevin is the founder and president of TUSK Partners, an M&A firm that exclusively represents sellers in transactions with DSOs. He has valued and sold over 120 dental practices, managed over $100MM of revenue in a DSO, and is the co-owner of a startup dental practice, Mundo Dentistry.Company: TUSK PartnersWords of wisdom: “We encourage folks, especially around retirement planning, to think about that cash at close as being the linchpin or the victory lap to your retirement. But do not sell your largest income-producing asset without knowing that the cash at close is going to get you to financial independence.”Connect: LinkedIn💰 On the Money 💰Top takeaways from this episode Valuations are higher than they were in the past. Twenty years ago, dentists had fewer options for selling their practices. Now, there’s more demand from private equity groups via DSOs. With higher numbers on the table, dentists may be tempted to sell at the first offer, but it’s prudent to wait.Deal structure matters more than multipliers. Someone could offer to buy your practice at 25x its value — but if that deal isn’t structured favorably, you won’t realize a cash payout. Dentists must understand how private equity transactions work.Investments are inherently risky. Just like buying a publicly traded stock,...
Trends in Dental Transactions and Considerations Before Selling to a DSO with Kevin Cumbus
Sep 1 2023
Trends in Dental Transactions and Considerations Before Selling to a DSO with Kevin Cumbus
Owning a dental practice is hard work. After years of serving the community and dealing with insurance companies, many dentists are ready to sell to the first person who gives them an offer. Kevin Cumbus says to wait.Kevin is the founder and president of TUSK Partners, a firm that specializes in selling successful dental practices to dental support organizations (DSOs). TUSK has closed $850 million of deals in the past seven years, and Kevin wants every dentist in independent practice to know they have options.Many dentists have only heard outdated advice from a financial planner about how and when to sell a practice, leading them to bite too early when they receive their first offer from an interested DSO. “I felt like there was too much value being left on the table for dentists and underrepresented groups,” Kevin says. TUSK exists to help hardworking dentists realize the full value of the practices they’ve given their lives to build.The DSO landscape is ever-evolving, and rising interest rates have directly impacted the deal structures DSOs most commonly offer. To explain what’s happening and what dentists can do about it, Kevin joins the Prosperous Doc® podcast. Host Shane Tenny, CFP® presses into the history of DSOs and what’s changed since the pandemic. Dentists have more options than ever, but they should be careful to choose the right partner.“Who you partner with really, really matters,” Kevin explains. “You will certainly be rolling equity into their business.” That equity could secure financial independence, but a bad deal could postpone a dentist’s retirement.💡 Featured Guest 💡Name: Kevin CumbusWhat he does: Kevin is the founder and president of TUSK Partners, an M&A firm that exclusively represents sellers in transactions with DSOs. He has valued and sold over 120 dental practices, managed over $100MM of revenue in a DSO, and is the co-owner of a startup dental practice, Mundo Dentistry.Company: TUSK PartnersWords of wisdom: “Today, there is more opportunity, more buyers for dental practices than there ever have been. And that's a really good thing if you own a dental practice because you have more options than you've ever had … I would encourage everyone to at least get the information about what their practice would be worth in an exit to a DSO compared to an exit to a dentist so they can make an informed decision.”Connect: LinkedIn⚡ Prosperous Insights ⚡[02:14] Family dentistry full circle: Kevin’s father is a pediatric dentist. After Kevin’s own career in finance and investment banking, he found himself back in the dental world, this time with a new perspective. TUSK now helps dentists understand the value of their practice and prepare for an exit.[07:32] Life before DSOs: Just 15 years ago, there weren’t many options for dentists looking to retire. Unless a dental school graduate came along to buy it, many had no choice but to close up shop and get no value for their practice.[10:19] Addressing the need: Early DSOs such as Heartland Dental solved two big problems in the industry. Not only did retiring dentists have an exit path, but new associates now had an easier time finding work. Kevin explains how these benefits unfolded.[13:56] The rise of corporate dentistry: Today, more than 150 DSOs exist in America. Kevin says they vary across culture, operational efficiency, and — most importantly — how they structure equity deals for dentists.[15:58] The legal fine print: A DSO is a...
Medical Missions and Expanding Your Worldview with Dr. Carlos Moretta
Jul 28 2023
Medical Missions and Expanding Your Worldview with Dr. Carlos Moretta
Dr. Carlos Moretta’s path into dentistry rather than medicine was, quite literally, an accident. Having decided he wanted to enroll in the radiology tech program at his local community college in Grand Rapids, Michigan, Dr. Moretta went up to an information desk and found he was in the wrong wing. The receptionist, instead, gave him a few brochures about the dental hygienist program, which told Dr. Moretta how much he’d get paid and how much schooling he’d need to complete. When he saw the specs, he was sold.In this episode of the Prosperous Doc®, our host Shane Tenny, CFP® welcomes Dr. Carlos M. Moretta to discuss his medical missionary work, the way his worldview has changed, what inspires him to continue his work, and why he encourages others to take part in a medical mission.Tune in to hear some stories from Dr. Moretta’s most memorable missions and what he learned along the way.💡 Featured Guest 💡Name: Dr. Carlos M. MorettaWhat he does: Having been board-certified by the American Board of Oral and Maxillofacial Surgeons, Dr. Moretta has maintained a faculty position at Loma Linda University School of Dentistry, where he practices in the graduate oral and maxillofacial surgical clinic.Company: Loma Linda University School of DentistryConnect: Website ⚡ Prosperous Insights ⚡[02:32] An odd start: Sometimes, the biggest mistakes yield the greatest outcomes. This is exactly how Dr. Moretta ended up enrolled in a dental hygienist program.[08:44] Enriching: These medical missions not only add value to your CV but add to your quality of life as well. They enrich your career and your life. [16:38] Pure gratitude: When working in remote villages across the world, Dr. Moretta is always appreciative of the pure, genuine gratitude his patients express. Without medical missions, many of his patients would never receive the type of care he provides. [24:00] Big realizations: Throughout his travels around the world, Dr. Moretta is constantly reminded of one major thing: we are all more alike than we are different. [29:57] Always a lesson: No matter the equipment or medical space available in different parts of the world, there is always a lesson to be learned. Dr. Moretta acknowledges that his Westernized medicine doesn’t make him better than other surgeons he comes across doing their best with what they have. [39:45] Getting started: Dr. Moretta shares some ways for others to get started in this type of missionary work, such as ADA Service Projects and Mission of Mercy. [40:56] Impactful people: Many people come to mind when Dr. Moretta reflects on all the positive forces that have gotten him to where he is today. He mentions Dr. Stephen Waterbrook, Dr. Ken Pearson, and Dr. Paul D. Huynh, MD. Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving...
Tech in Medicine: How AI and Chat GPT are Changing Healthcare with Dr. Harvey Castro
Jun 23 2023
Tech in Medicine: How AI and Chat GPT are Changing Healthcare with Dr. Harvey Castro
Dr. Harvey Castro is passionate about many things: healthcare and tech being two of them. Luckily, for the medical world, he has found a way to marry those passions and help others succeed in the healthcare and digital health sectors. In this episode of the Prosperous Doc®, our host Shane Tenny, CFP®, welcomes Dr. Harvey Castro to discuss the future of AI and Chat GPT in healthcare and medicine. Dr. Castro walks listeners through his own entrepreneurial experience within the healthcare sector and how he foresees AI being used to provide quality healthcare for patients.💡 Featured Guest 💡Name: Dr. Harvey CastroWhat he does: Dr. Castro is a physician, healthcare consultant, former CEO, and serial entrepreneur with extensive experience in the healthcare industry. He is also the author of the "Chat GPT Healthcare” books and creator of multiple healthcare apps. Dr. Castro hopes to improve and increase awareness of digital health and implement positive changes in the healthcare field. Connect: Website | LinkedIn | Twitter⚡ Prosperous Insights ⚡[02:07] Tech differences: Dr. Castro walks listeners through the differences between Chat GPT and Google, with a useful analogy.  [03:21] Fact check: The term “AI Hallucination” refers to a confident response by an AI that does not seem to be justified by its data, either because it is insufficient, biased or too specialized. Therefore, users should always double check the information they get from Chat GPT.[04:02] Not so new: Although it has been getting a lot of news coverage in the last few months, AI isn’t entirely new. Dr. Castro gives examples of how AI has been in existence for a long time. [08:07] Use it wisely: Dr. Castro discusses how he used Chat GPT and prompt engineering to help outline his books.[13:39] Bio vs. Chat: While Chat GPT has been fed information on all sorts of different topics, Bio GPT strictly has medical information and should, therefore, be able to provide more accurate answers. [22:59] Crossroads ahead: Dr. Castro goes over what he foresees as some ethical challenges or considerations in the crossroads of AI and healthcare — for instance, bias in Chat GPT.[27:18] The wrap-up: Here are some key takeaways Dr. Castro hopes listeners will walk away with. Interested listeners can head to AI.com to try out Chat GPT.Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.Compliance code: CRN202606-4515487
Understanding the Importance of Organizational Culture (and How it Impacts Success) with Tom Loeblein
May 19 2023
Understanding the Importance of Organizational Culture (and How it Impacts Success) with Tom Loeblein
Creating a positive organizational culture is crucial for the success of a medical or dental practice. Tom Loeblein, President and CEO of Healthcare Management Consultants and The Dental CFO, dedicates his career to building a strong culture within practices. He shares his insights on this episode of Prosperous Doc®, including why skills aren’t the only thing to look for when hiring. Creating a positive work environment that motivates and engages employees is crucial to delivering world-class care and providing positive patient experiences — investing in your team’s well-being is an investment in your patients (and your practice).By implementing Tom’s strategies, practice owners can attract and retain top talent and achieve long-term success. 💡 Featured Guest 💡Name: Thomas (Tom) R. Loeblein, CHBC, CFP®️What he does: While his official title at The Dental CFO is President and CEO, Tom’s real title is “Visionary.” Tom sets the organization’s vision, creates and maintains the company’s culture, and builds relationships with clients and stakeholders. In addition to his work with The Dental CFO, Tom serves as President/CEO of Healthcare Management Consultants, Inc. Tom is a Certified Healthcare Business Consultant, a Charter Member of the National Society of Certified Healthcare Business Consultants, a Kolbe Certified Consultant, and a Certified Financial Planner Professional. He is a graduate of the U.S. Naval Academy and a retired Lieutenant Colonel in the U.S. Marine Corps Reserve.Companies: Healthcare Management Consultants | The Dental CFOConnect: LinkedIn⚡ Prosperous Insights ⚡[00:32] Don’t discount company culture: Tom discusses the importance of company culture in medical and dental practices and how it impacts their success.[03:58] Smart v. healthy organizations: An unhealthy culture can lead to turnover and a decline in success. [11:21] Visioning: Shane and Tom discuss the importance of having a vision for your practice and how it can help engage team members and attract top talent.[14:45] Enabling growth: Putting team members in the right seats and helping them grow professionally keeps them engaged and motivated.[22:13] The Three Parts of the Mind in Hiring: Tom explains the three parts of the mind that are important to consider when hiring: cognitive, affective, and how the individual goes about working.[25:54] Know yourself (and your practice): Core values that are unique — and truly represent your organization — make leadership and culture-building easier. [28:37] Your team needs a good fight: Organizations need to understand the essence of fighting fair. [33:22] Learn to fight fair: Tom suggests reading work by
Talking the FTC’s Proposed New Rule on Noncompetes with Anu Murthy
Apr 28 2023
Talking the FTC’s Proposed New Rule on Noncompetes with Anu Murthy
As a healthcare attorney and practice consultant at Knowledgeable Aging, Anu Murthy, Esq. is no stranger to contractual language and logistics. Anu previously joined host Shane Tenny to talk about healthcare workers making the most of their employment. Anu has expertise in medical employment contracts, partnership agreements, and other practice-related business matters — making her the perfect guest to discuss the FTC and potential changes to healthcare workers’ rights on this episode of Prosperous Doc. Earlier this year, the Federal Trade Commission proposed a new rule that would effectively ban employers from using noncompete clauses.If you're in the health care, dentistry, or medicine sector, you know that these noncompete clauses are part of many employment contracts, often accompanied by negotiated “restrictive covenants.”  The FTC claims these non-compete clauses suppress wages, hinder innovation, and prevent entrepreneurs from starting new businesses. The ban aims to force wage increases in the industry and expand career opportunities.Tune in to this episode to hear Shane and Anu talk about all things noncompetes, as well as a ban’s potential impact. 💡 Featured Guest 💡Name: Anu Murthy, Esq. What she does: Anu is a healthcare attorney and practice consultant who exclusively focuses on physician, dentist, and advanced care practitioner employment contracts, partnership agreements, and other practice-related business matters.Company: Knowledgeable AgingWords of wisdom: “I am telling my clients to disregard the proposed rule for the time being. It is not going to give you any clout or any power in negotiating at the moment [...] I would recommend that they seek legal counsel just to make sure that the employer is following the rule to the letter.”Connect: LinkedIn | Website⚡ Prosperous Insights ⚡[03:27] The proposition: Anu takes listeners through a brief history of the FTC’s proposed ban, with a focus on the impact this has had, and will continue to have, on healthcare providers. [05:36] A long way back: Anu discusses how noncompetes came into existence, which dates all the way back to England in 1440. [07:26] Independents included: The proposed rule not only includes W2 workers but independent contractors on 1099s, as well. [13:41] Different perspectives: Anu discusses the ban from the perspective of several groups — including providers, the American Hospitals Association (AHA) and the American Medical Association (AMA). [18:47] Advice: Currently, Anu advises an employee negotiating a new contract to ignore the proposed rule and instead seek legal counsel to ensure employers are following all current rules. [21:20] The outlook: This new rule proposed by the FTC is something that has never been done before. If it were to pass, it would affect more than 30 million Americans with non-competes clauses in their employment contracts.   Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories...
Negotiating the Physician Contract You Deserve with Ethan A. Nkana
Mar 24 2023
Negotiating the Physician Contract You Deserve with Ethan A. Nkana
In a 2014 survey, the medical network Doximity found that over 72% of residents had negative feelings about negotiating their compensation, including feeling stressed, concerned, anxious, or lost. 31% of physicians felt prepared to network, while only 9% felt ready to negotiate. It wasn’t just first-time attending doctors who felt that way — doctors seeking raises were also affected. It’s no wonder so many doctors feel anxious when few receive any training in contract negotiations.But physicians shouldn't settle for less, says Ethan A. Nkana, Principle at the Rocky Mountain Physician Agency (RMPA), which advocates for doctors seeking fair contracts and compensation.Having an advocate like Ethan helps in certain high-level situations, but you don’t necessarily have to hire an advocate to get what you want. In this episode of Prosperous Doc, Ethan talks with host Shane Tenny about everything you need to know about contract negotiations, whether you’re a graduating resident or an experienced physician. 💡 Featured Guest 💡Name: Ethan A. Nkana, J.D., MBAWhat he does: Ethan began his hospital administration journey as a Human Resources intern later expanding his skill set to hospital finance, physician contracting and compensation, hospital operations, and healthcare strategy. While working in physician contracting, Ethan observed that physicians frequently leave money and value on the table during their contract and salary negotiations.Company: Rocky Mountain Physician Agency Words of wisdom: “If I could give one piece of advice to first-time attendings that would really help give them the best chance for success: get more than one offer.”Connect: LinkedIn | Instagram⚡ Prosperous Insights ⚡[02:21] Doctors need an advocate: Most people tend to think of doctors as high earners, but in reality, not all of them are. [04:14] Get more than one offer: Ethan offers an important piece of advice for first-time attending physicians: getting more than one offer improves your negotiating position by giving you more control.[09:55] Everything is negotiable: Health insurance packages might not be negotiable, but most other things are. He discusses the three negotiable parts of compensation.[13:39] Student loan forgiveness: Student loan debt is a top concern for new physicians, some of whom have six figures worth of debt. [17:34] Get the numbers: It’s important for doctors to understand how salary ranges differ according to region and care setting. Some websites you can find this data are Medscape, Doximity, Physicians Thrive, and Merritt Hawkins. Data can also be purchased through Sullivan Cotter and
The Ins and Outs of Virtual Medical Professionals with Beth Lachance
Mar 10 2023
The Ins and Outs of Virtual Medical Professionals with Beth Lachance
Many years ago, Beth Lachance realized that there was an opening for virtual professionals in medical and dental practices. She began working on her business plan and fine tuning what would become REVA Global Medical. In this episode of the Prosperous Doc®, our host Shane Tenny, CFP® welcomes Beth Lachance, CEO of REVA Global Medical, to discuss how she became one of the leaders in the virtual professional evolution in medicine.From front desk and clerical work to back-end insurance dealings and accounting needs, the medical virtual professionals at REVA are alleviating the stress caused by a low supply of healthcare employees. REVA prioritizes forming true partnerships with practices and physicians. Their interest is not in replacing existing personnel nor outsourcing jobs, but in creating the capacity to do more and better work. 💡 Featured Guest 💡Name: Beth LachanceWhat she does: Beth is leading REVA Global Medical in vision and the day-to-day business operations securing the functionality of the business to drive extensive and sustainable growth. Combining her strong leadership and determination with her 16 years of experience as a business owner specializing in real estate project management and investing with Hat Trick Holding, LLC, and over 22 years of corporate experience in the private and public sector of surgical device, pharmaceutical, and specialty pharmacy industries — she keeps the company moving forward with high-level strategy while understanding the details of day-to-day execution to ensure steadfast success.Company: REVA Global Medical Words of wisdom: “We are an enhancement to the practice and to the medical staff that's already there in place, because they're overwhelmed and they need to figure out a way of trying to get some of the heavy lifting off of their plates, so that they can be more present with the patients that are there in the practice.”Connect: LinkedIn⚡ Prosperous Insights ⚡[02:28] Defining a new role: A medical virtual assistant can do any number of tasks, including front desk triage, new patient intakes, insurance verifications, prior authorizations, background billing, fax review, and data entry into the EMR. [13:19] High quality: All medical virtual assistants must be HIPAA-certified, have a background in healthcare — whether they graduated with a four-year degree in nursing or worked at an insurance company — and know and truly understand how insurance works in the United States.[24:42] A good fit: REVA Global looks for partner practices that know what their pain points are, where their needs are, and how they can support a virtual staff. The practice should also have basic use of technology.[27:19] The big 3: REVA Global is most commonly asked to staff three main departments with medical virtual professionals — the front desk, insurance prior authorizations, and the accounts receivable and billing department.[34:29] A solid team: Beth credits much of the company’s success to her incredible team at REVA Global Medical, both domestically and abroad. Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about...
Unpacking the Good and the Bad of Grit with Dr. Rob Orman
Feb 24 2023
Unpacking the Good and the Bad of Grit with Dr. Rob Orman
Dr. Orman spent 21 years working in clinical community emergency medicine. In the first 10 years of his practice, he experienced three severe burnouts. Without much guidance, he thought the solution was to work harder - grit it out. Soon after his third major bout of burnout, Dr. Orman realized that his current way of life wasn’t sustainable.  So, he switched gears to work in medical education, and that became a salvation for him, giving him a new purpose. This led him to start his podcast, Stimulus, and spend a year getting his certification from a coaching academy. Dr. Orman is now a certified executive coach, and he dedicates his time to helping physicians develop strategies to live and work with intent, creatively solve problems, and practice self-compassion.Tune in to this episode of the Prosperous Doc® to hear our host Shane Tenny, CFP®, chat with Dr. Orman about the true meaning of grit and how physicians can still have it while being gentler with themselves.💡 Featured Guest 💡Name: Dr. Rob Orman, MDWhat he does: As a certified executive coach, Dr. Orman helps physicians build resilience within their medical practices. He worked as a community emergency physician for 20 years and now works as a physician coach. Dr. Orman is a multiple award-winning lecturer, the former chief editor of EM:RAP, and creator of the Stimulus and ERcast podcasts. Company: Orman Physician CoachingConnect: Website | Twitter | LinkedIn | Podcast  ⚡ Prosperous Insights ⚡[02:34] The great burnout: Dr. Orman recounts the multiple burnouts he experienced while practicing medicine and how they led him to pursue a different career. [10:48] No longer drowning: Finding purpose and meaning in his work, saved Dr. Orman from feeling defeated and as if he was drowning in his profession. [16:20] Pivot and adjust: Facing defeat and failure can open up unforeseen or unconsidered problem-solving strategies.[26:20] Relearning to think: Dr. Orman discusses the power in learning how to think and process stress and self-awareness differently and learning to process anxiety and burnout differently.[30:14] Silence that inner critic: When things might not be going according to plan or living up to certain standards, that inner critic might get louder. [34:38] More listening: Shane and Dr. Orman share their admiration for an episode of the Prosperous Doc podcast with Dr. Joseph Stern, who talked about self-compassion.[35:17] Big players: Dr. Orman acknowledges a family friend Lenny Wineglass, for taking him under his wing; his late mentor at Emory, Ken Walker; an attending Dr. Lee Shockley; his brother, Rich Orman; and his coaching partner...
How To Make the Most of Your Time with Dr. Christina Shenvi
Feb 10 2023
How To Make the Most of Your Time with Dr. Christina Shenvi
“We have 1,440 minutes a day. We tend to be pretty careful thinking about our finances or our money, but ironically, we can always make more money, but we can never make more time,” says Dr. Christina Shenvi, MD, Ph.D.,MBA. Dr. Shenvi is no stranger to the challenge of time management. Having earned a PhD, MD and executive MBA, she was using timeboxing and other techniques before there was a name for them.After coaching medical students for their exams, Dr. Shenvi realized that much of that success came down to how students manage their time. She then spent several years deep diving into psychology literature on procrastination, goal setting, and motivation and began incorporating this knowledge into her lectures. After working with students for a number of years, Dr. Shenvi started to speak on this topic to her colleagues - the medical school faculty. And she would get an overwhelming response that it really resonated with people.In this episode of the Prosperous Doc®, our host Shane Tenny, CFP®, chats with Dr. Shenvi about how practicing better time management can lead to more fulfilling lives for busy professionals. 💡 Featured Guest 💡Name: Dr. Christina Shenvi, MD, Ph.D., MBAWhat she does: Dr. Shenvi is a practicing emergency physician, educator, keynote speaker, and leader. She created Time for Your Life in hopes of helping busy professionals reduce their stress levels and feel more fulfilled by better managing their time.Company: Time for Your Life Words of wisdom: “How you manage your time is really about how you manage your own mind.”Connect: Website | Twitter | LinkedIn  ⚡ Prosperous Insights ⚡[02:03] A nonrenewable resource: Unlike money, which can be earned, spent, and reacquired, you can never get your time back. [04:39] Time and effort: Dr. Shenvi compares making life changes to making bread. “You really need the time, the energy, the effort — yourself, or with a coach, or within a structure — to work that yeast into the dough.” [15:35] Your true self: One of the key elements to mastering time management is looking inward and evaluating your priorities and values. [21:04] Life’s what you make it: As with most things in life, time will not just be handed to you. [23:00] Psychology literature: When she first became interested in the topic of time management, Dr. Shenvi did a deep dive into psychology literature, such as Cal Newport’s Deep Work and A World Without Email, as well as the book
How to Attract, Grow, and Keep a Great Team with Ben Shaver
Jan 6 2023
How to Attract, Grow, and Keep a Great Team with Ben Shaver
For those working in medicine and dentistry, having a great team is key to being able to support their patients. Today’s guest wants to help practitioners attract, develop, and retain the right team so they can see their businesses thrive. Ben Shaver is a certified leadership coach and a business consultant working with medical and dental practices on organizational development, recruiting, and branding.  In this episode of the Prosperous Doc®, host Shane Tenny, CFP®, asks the questions you want answers to if you’re considering buying your own practice or struggling with attracting the type of team you need to be successful.  💡 Featured Guest 💡Name: Ben ShaverWhat he does: Ben Shaver is a certified leadership coach and business consultant. He works primarily with medical and dental practices helping them with organizational development, recruiting, and branding. His core program The Leader Brand™ helps clients turn from managers to leaders by flipping the organizational chart and focusing on the consumer first.Company: Venture PracticesWords of wisdom: “If you really create a brand people want to be a part of, then you're going to win because they're going to see that and engage with it.”Connect: Website | LinkedIn | YouTube ⚡ Prosperous Insights ⚡[02:29] Flip the org chart upside down: Ben explains how he approaches leadership training from the consumer or patient first.[06:07] Look, act and feel: Consistency is key. If you want to look professional, act organized, and feel trusted, then you need to model those behaviors every single day. [08:31] Cynics, contributors, committed, and champions: There are four different types of team members you might find in your organization. [14:32] A proficient and passionate team: Ben uses task filters from leadership professional Michael Hyatt to find holes in systems and processes that need addressing. [21:28] Using DiSC assessments: Ben reviews how different personality types can complement each other and cause conflict. [24:50] You have to be unique in your approach: Helping people identify what they are drawn to is an important part of creating a path for their training and company processes. [31:10] Everyone needs a business coach: Ben gives a shout-out to his business coach, Harvey Smith, for everything he has done for him over the years. Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.Compliance code: CRN202512-3477621
Learn How to Let Go of Perfectionism with Dr. Cindy Tsai
Nov 18 2022
Learn How to Let Go of Perfectionism with Dr. Cindy Tsai
Dr. Cindy Tsai considers herself a recovering perfectionist. Having been motivated by extremely high standards for much of her life, Dr. Tsai found that her perfectionist tendencies were actually holding her back, impacting her relationships, and causing her to overwork herself.In this episode of the Prosperous Doc®, our host Shane Tenny, CFP® talks to Dr. Cindy Tsai about the root of perfectionism, the connection between perfectionist-induced stress and physical symptoms, and how to overcome this chronic belief system.Dr. Tsai discusses her own experiences with illness as a result of perfectionism’s toll on her body, as well as the work she has done to overcome it. In her self-help book “So Much Better,” Dr. Tsai outlines the key three pillars to overcome perfectionism: calm, confidence and curiosity. “It’s a resource and guide that I wish I had years ago, because in my own journey, I realized that there were so many other modalities and techniques and practices that can be very helpful and transformative,” says Dr. Tsai of her book. “These are skills that anyone can learn and master. And so that's really the intention behind it.” 💡 Featured Guest 💡Name: Dr. Cindy Tsai What she does: Dr. Cindy Tsai is a board-certified internal medicine physician in San Diego, CA. She is also a life coach, a TEDx and keynote speaker, and the author of the self-help book “So Much Better.” Words of wisdom: “It is so important and helpful to reframe that perspective, so that you're not thinking that if you don't get it right or perfect, you're not good enough.”Connect: Website | LinkedIn | Twitter | Instagram   ⚡ Prosperous Insights ⚡[03:08] Defining the enemy: According to Dr. Tsai, perfectionism can be defined as the unwillingness to accept anything less than extremely high levels of standards and performance. It’s the need to be the best in all areas of life. [04:42] Practice makes perfect(tionism): This unhealthy ideal is lauded in society as a way of life. Perfectionism is bred from the fear of failure, inadequacy, and disappointing others.[08:17] Physical symptoms of stress: Dr. Tsai came to develop physical symptoms, such as blurred vision, from the stress of her perfectionist tendencies while in her medical training. It made her pause and consider the deeper cause for her symptoms.[17:25] Redefining self care: Dr. Tsai’s book “So Much Better,” which is based in mindfulness, provides different tools and techniques for readers to master calm, confidence, and curiosity to overcome debilitating perfectionism. [24:24] Looking within: In order to successfully become a “recovering perfectionist,” Dr. Tsai urges listeners and readers to really do the work within.[26:41] Other self-help leaders: Thought leader Brené Brown’s “Gifts of Imperfection” and Kristin Neff’s books on self-compassion influenced Dr. Tsai and showed her the value of vulnerability and...