Wealth Planning for the Modern Physician
85 episodes - English - Latest episode: 11 days ago - ★★★★★ - 39 ratingsJoin 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!
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Episodes
Medical Practice Mergers & Acquisitions with Attorney Gary W. Herschman
January 20, 2022 11:00 - 51 minutes - 70.9 MBListen in as David chats with nationally recognized healthcare mergers and acquisitions (M&A) attorney Gary Herschman. Gary begins by describing his firm and practice and then gives some statistics in terms of the number of M&A deals in the medical practice space. David and Gary then dive into the reasons why a medical practice might consider merging with another practice, becoming an acquirer or being acquired. They then discuss how investors value medical practices, when to involve an ...
Entrepreneurship, Delivering CME, and Private Investing with David Victor, JD
December 23, 2021 11:00 - 38 minutes - 52.9 MBListen in as host David Mandell chats with entrepreneur and experienced private investor David Victor. They begin by discussing Victor’s career path, leaving the practice of law to join his father in the startup that became American Education Institute (AEI), where Mandell lectures every year. They then explore AEI in more depth – what services it offers, why physicians might be interested in it, how COVID forced Victor to transform the business, and why the business may be stronger now t...
Student Loans 101
December 09, 2021 11:00 - 39 minutes - 53.9 MBListen in as David chats with student loan expert Ryan Frailich. David and Ryan begin with Ryan’s career path -- from a teacher to human resources professional to Certified Financial PlannerTM with an expertise and certification in student loans (CSLP). David and Ryan then dive into student loans – discussing Income Driven Repayment plans, the pros and cons of private refinancing, the Public Service Loan Forgiveness program, and various factors that can impact an individual physician’s stu...
Using Cash Balance Plans to Reduce Taxes & Build Wealth with Scott McHenry, FCA, MAAA, MSEA
November 24, 2021 11:00 - 42 minutes - 58.4 MBListen as David chats with retirement plan expert Scott McHenry. David and Scott talk about Scott’s career path – from a position inside a large firm to the transition to his own firm about 15 years ago. David and Scott then dive into Cash Balance Plans (CBPs). They discuss how these plans can be more favorable than other qualified plans, such as pensions, profit-sharing plans and 401(k)s, define the type of practice or physician that is a good candidate for a CBP. They wrap up with key ...
Thoughts from A Clinician, Academic & Leader featuring Dr. Kevin Plancher
November 11, 2021 11:00 - 27 minutes - 38.5 MBIn this episode, orthopaedic surgeon Dr. Kevin Plancher joins David to discuss his academic and private practice career, experiences with finance and speaking alongside David at an upcoming orthopaedic meeting. Listen in as Kevin explains how he ended up in orthopaedics when coming from a family in finance and building a department with other “young guns” in his first job out of training. Kevin then talks about his decision to leave the hospital setting for his own practice after some yea...
Orthopaedic Experiences: The Navy SEALs to the New England Patriots with Dr. Matthew Provencher
October 28, 2021 10:00 - 46 minutes - 64.2 MBIn this episode, orthopaedic surgeon Dr. Matthew Provencher joins David to discuss varied experiences he has had in his career. Listen in as Matthew explains how he ended up in orthopaedics when his dream of being a Navy pilot didn’t work out. He then explains his experience as a Naval surgeon, taking care of the SEALs, and working on humanitarian missions and what he learned from those positions. Matthew then chats with David about decision to leave the Navy to become Chief of Sports Me...
Financial Management for the Private Practice
October 14, 2021 10:00 - 33 minutes - 45.9 MBListen in as David chats with CPA and financial consultant Jessica Nunn. David and Jessica discuss Jessica’s initial interest in finance and accounting, including her education and initial jobs with larger firms working with public companies. David and Jessica then dive into Jessica’s decision to go out on her own to help smaller clients like medical and dental practices and their owners. Then Jessica discusses how she helps practice owner clients today, giving some real examples of challe...
Expert Insights on Asset Protection with Bo Loeffler, Esq.
September 30, 2021 10:00 - 44 minutes - 60.7 MBListen in as David chats with author and nationally recognized asset protection attorney Bo Loeffler. David and Bo discuss Bo’s background as a litigator and U.S. Bankruptcy Trustee and how that has helped him as an asset protection attorney. Bo also chats about his experience in representing lottery winners. David and Bo then dive into a few specific tools often used in asset protection planning, including insurance and exempt assets. They also cover limited liability companies (LLCs) and...
Alternative Investments, How LLCs Shield Assets & Retiring Well with Dr. David Yanoff
September 16, 2021 10:00 - 50 minutes - 69.4 MBIn this episode, orthopaedic surgeon Dr. David Yanoff joins David to discuss varied topics. Listen in as Dr. Yanoff shares why he initially became interested in medicine and how his military service guided him into orthopaedic surgery. He then explains his sudden departure from his first practice for a new town and how that led to building a thriving practice and owning the building where he practiced. They discuss this, his process for gradual retirement, and much more, in episode 4 o...
Tax Planning: The Employee Retention Credit Featuring Carole Foos, CPA
September 02, 2021 10:00 - 25 minutes - 35.7 MBThis episode focuses on the timely topic of the Employee Retention Tax Credit (ERC), which many medical practices may be able to take advantage of for significant tax savings. From its origins in the CARES Act in 2020 and the rules that related to it around the PPP loans and more, to the changes recently enacted by Congress as a part of the Consolidated Appropriations Act of 2021 (CAA). In conclusion, Carole explains what medical practices should be doing now to see if they are eligible fo...
Personal Branding & Other Business Lessons with Orthopaedic Surgeon Dr. Michael Ast
August 19, 2021 10:00 - 34 minutes - 47.3 MBIn the second episode of Season 2, orthopaedic surgeon Dr. Michael Ast joins David to discuss several topics. Listen in as Michael explains his interest in becoming an orthopaedic surgeon following a college gymnastic career and his early exposure to business and finance. Michael then describes his first job out of training and the unique focus that practice had on pro-active marketing—and lessons he took away from that experience that all doctors can implement. Finally, Michael summariz...
The Entrepreneurial Operating System (EOS)
August 05, 2021 10:00 - 33 minutes - 45.9 MBListen in as David chats with CPA and professional EOS implementer Crystal Faulkner about the Entrepreneurial Operating System and how physicians and practice owners can benefit from using it in their practices or entrepreneurial ventures. David and Crystal discuss what the EOS is, how it differs from other strategic planning processes, and what the 6 key components of a business/practice are. They then examine the challenge and approach to dealing with people on the team and getting them ...
The Physician as an Entrepreneur with Jerry Kelsheimer and Ronnen Isakov of Medic Management Group
June 24, 2021 10:00 - 38 minutes - 52.9 MBListen in as David chats with Jerry Kelsheimer and Ronnen Isakov, President and Managing Director of Medic Management Group, a national “one stop” solution for healthcare management. David, Jerry and Ronnen examine several aspects of the business of medicine, including ways that Medic Management Group helps physicians and medical practices. They discuss what “thinking like an entrepreneur” means for physicians and the questions entrepreneurial practice owners should ask. The also cover ris...
21 | The Physician as an Entrepreneur with Jerry Kelsheimer and Ronnen Isakov of Medic Management Group
June 24, 2021 10:00 - 38 minutes - 52.9 MBListen in as David chats with Jerry Kelsheimer and Ronnen Isakov, President and Managing Director of Medic Management Group, a national “one stop” solution for healthcare management. David, Jerry and Ronnen examine several aspects of the business of medicine, including ways that Medic Management Group helps physicians and medical practices. They discuss what “thinking like an entrepreneur” means for physicians and the questions entrepreneurial practice owners should ask. The also cover ris...
20 | Personal Guarantees to Partner Choices: Insights from An Ophthalmology Practice Founder with Desmond McGuire, MD
June 10, 2021 10:00 - 41 minutes - 56.4 MBIn this episode, retina specialist Dr. Desmond McGuire joins David to discuss everything from his first exposure to ophthalmology back in high school, as well as how his parents influenced his commitment to saving for retirement. Dr. McGuire and David then review how Desi founded his practice by purchasing it from a few physicians and then examine the risk of signing personal guarantees on investment deals, with Desi sharing a private investment deal he was involved in that did not go as pl...
19 | Inflation & Your Investments with Andrew Taylor, CFP®
May 27, 2021 10:00 - 21 minutes - 29 MBThis episode focuses on a timely economic issue – inflation and its impact on investments. You’ll hear from David, as well as his OJM Group partner, Andrew Taylor, CFP, as they discuss inflation basics and what listeners need to know about its impact in May 2021 and in the coming months. You can find show notes and more information by visiting www.physicianswealthpodcast.com.
18 | Protect Your Practice & Personal Data From Cyber Fraud with Mark Grosvenor
May 13, 2021 10:00 - 29 minutes - 40.9 MBListen in as guest host and OJM Group Co-Founder Jason O’Dell chats with Mark Grosvenor, Executive Vice President and Chief Technology Officer for NFP (National Financial Partners). In his discussion with Jason, Mark covers several important topics for physicians and medical practices, including cyber fraud involved with PPP loans (and practical steps to take to avoid it), what “social engineering” attacks are, what a business should do if they are a victim of cyber fraud. Mark also discus...
17 | What Doctors Should Know: The 2021 Legal Update with Healthcare Attorney Brad Adatto
April 29, 2021 10:00 - 35 minutes - 48.6 MBBrad Adatto is a partner at the law firm of ByrdAdatto, a national business and healthcare boutique law firm. As the son of a surgeon, and from a family of many dentists, Brad has a personal connection to the businesses of both medicine and dentistry. In his discussion with David, Brad covers a number of important issues for listeners, including common compliance red flags in medical and dental private practices, as well as HIPAA, Stark, and anti-kickback rules. Finally, Brad discusses a c...
16 | Don’t Put Your Happiness on Hold with Dr. Jen Haley
April 15, 2021 10:00 - 46 minutes - 64.4 MBListen in as Dr. Jen Haley joins David to discuss how her upbringing influenced her decision to become a physician, why she shifted specialties during her training, and how a few unplanned significant decisions have shaped her career and financial life. Jen also talks about her Radiance Revealed Podcast and reveals a few important financial habits and philosophies which have allowed her to become financially independent now and practice in a way that fits her lifestyle. You can find show n...
15 | Career Transitions, Asset Protection & Podcasting with Anesthesiologist Dr. Richard Marn
April 01, 2021 10:00 - 42 minutes - 58 MBIn this episode, anesthesiologist and fellow podcaster Dr. Richard Marn joins David to discuss various topics. Listen in as Richard explains his decision to pursue anesthesiology, when he originally planned to be a surgeon, and his choice to leave a large academic institution after many years for solo private practice. They also discuss Richard’s and his wife’s investments in real estate and their search, with some successes and failures, to get tailored asset protection advice. You can...
14 | Insights on Selling a Medical Practice, with Investment Bankers Clint Bundy & Stewart Carlin
March 18, 2021 10:00 - 37 minutes - 51.7 MBIn this episode, David is joined by investment bankers Clint Bundy and Stewart Carlin from The Bundy Group. Clint and Stewart each discuss success factors for physicians looking to sell their practice, merge into larger practices, or even become an acquirer. They also cover a few common mistakes they often see in the medical practice space. Finally, Clint and Stewart tell David the best ways physicians can vet and compensate a potential investment banking firm and the “one thing” each of the...
13 | Financial Therapy 101 with Orthopaedic Surgeon Greg Gilot and Your Financial Therapist Erika Wasserman
March 04, 2021 11:00 - 39 minutes - 54.1 MBIn this episode, David speaks with Cleveland Clinic Florida orthopaedic surgeon Dr. Gregory Gilot and his collaborator “Your Financial Therapist” Erika Wasserman. Listen in as Greg outlines his traditional surgical training and career. Greg then discusses his interest in Financial Therapy and decision to pursue academic training in the field while continuing to practice orthopaedics. Erika covers her career journey from IBM to branding consultant to Financial Therapist, where she met Gre...
12 | Taking Time & Taking Risks with Gastroenterologist Entrepreneur Mukul Mehra, MD
February 18, 2021 11:00 - 36 minutes - 49.4 MBIn this episode, gastroenterologist and entrepreneur Mukul Mehra, MD joins the program to discuss his career journey and business pursuits. Listen in as Mukul explains his financial choices on schools to attend, job selection and how he sought the right financial firm to guide him. He and David also discuss how Mukul’s time away from the practice led to insights which culminated in his successful healthcare company and the importance of finding the right mentor in business. Finally, Muku...
11 | The Importance of Asset Protection & Other Lessons with Dermatologist-Attorney-Professor David Goldberg, MD, JD
February 04, 2021 11:00 - 29 minutes - 40.1 MBDr. Goldberg discusses his motivation to become a physician, his experience in joining a private practice after training and the decision to leave that practice and go out on his own. He then explains his decision to go to law school at night and what he took away from that training. Finally, Dr. Goldberg explains his advice to fellow physicians regarding liability and asset protection and the recent merger of his practice and his new position. You can find show notes and more informatio...
10 | 2021 Tax Planning with Carole Foos, CPA
January 21, 2021 11:00 - 38 minutes - 52.4 MBAs the new year begins and the Biden administration takes office, this episode focuses on the timely topic of 2021 tax planning. David opens with an overview of two tax-related topics: (1) the improvement of the tax-favored asset class of permanent life insurance by a federal law passed at the end of 2020; and (2) the tactic of timely tax loss/gain harvesting – which should be implemented throughout the year, not just in the fourth quarter. You can find show notes and more information by...
9 |The Value of Specialization, with Entrepreneur & Orthopaedic Surgeon Scott Faucett, MD, MS
January 07, 2021 11:00 - 36 minutes - 50.6 MBIn this episode, sports medicine orthopaedic surgeon Dr. Scott Faucett, MD, MS joins the podcast to discuss his career path, decisions concerning career and finances, and his entrepreneurial ventures in medically-related businesses. Listen in as Scott explains his background in finance, from both his family and college education and his fascinating master’s program at Dartmouth, where he trained in many management areas related to medicine. He and David also discuss Scott’s various job d...
8 | Leveraging Today’s Low Interest Rates, Including The Use of Premium-Financed Life Insurance, with Jason M. O'Dell, MS, CWM
December 24, 2020 11:00 - 33 minutes - 46.5 MBThis episode focuses on a powerful wealth planning opportunity for physicians that is time-sensitive -- leveraging today’s historically low interest rates. You’ll hear from David, as well as his OJM Group partner, Jason O’Dell, MS, CWM, as they discuss techniques for leveraging low interest rates in a number of wealth planning areas. David discusses three ways to leverage such low rates and then introduces Jason to discuss premium-financed life insurance, one technique that has increased a...
7 | Insights From a Spine Surgeon-MBA-Practice Executive with Isador Lieberman, MD, MBA
December 10, 2020 11:00 - 47 minutes - 65.7 MBIn this episode, Orthopaedic Spine Surgeon Isador Lieberman, MD, MBA joins the podcast to discuss his career path from Toronto to Cleveland to South Florida to Dallas, including academic positions, clinical work and administrative responsibilities. Listen in as Isador explains why he sought out an MBA while in practice at the Cleveland Clinic and lessons he learned running orthopaedic departments and, currently, the Texas Back Institute. He and David also discuss entrepreneurial opportu...
6 | The Financial Life of a Two-Physician Couple with Drs. Robin and Evander Fogle
November 26, 2020 11:00 - 43 minutes - 100 MBToday we have two guests joining the show: Drs. Robin and Evander Fogle, from Atlanta, Georgia. Robin is a Reproductive Endocrinology and Infertility Specialist, while Evander is an Orthopaedic Surgeon. In this episode, we discuss their stories of how they met, and their medical training paths across the U.S. (and Evander’s stint as staff surgeon at Guantanamo Bay, Cuba.) We focus most of the discussion on their challenges of making financial decisions as a couple and raising a family with...
5 | Marketing & Operational Pearls with Tim Sawyer, President of Crystal Clear Digital Marketing
November 12, 2020 11:00 - 35 minutes - 48.2 MBTim Sawyer is the President and Co-Founder of Inc. 500 Company Crystal Clear Digital Marketing. He is a highly regarded motivational speaker, author and practice management consultant within the medical industry. Listen in as Tim explains what he has learned from running his own business, including his mistakes, and what his advice would be for physicians in private practice or with entrepreneurial aspirations. You will learn the important difference between abdicating and delegating, how ...
4 | Moving From an Employed Position to Buying a Private Practice and Beyond with Plastic Surgeon Dr. Jonathan Kaplan
October 29, 2020 10:00 - 34 minutes - 79.4 MBA second-generation physician, Jonathan explains why he became a plastic surgeon, his background in getting a master’s degree in public health, and his choice to become an employed physician out of fellowship. He and David discuss Jonathan’s decision to buy a private practice in San Francisco and everything that was involved in that transaction, including his use of an SBA loan and creation of a business plan. Jonathan then discusses the areas of wealth planning he handles himself, as well a...
3 | The Business of Medicine and Success Factors for Doctors Working with Lawyers with attorney Michael Byrd
October 01, 2020 10:02 - 30 minutes - 69.8 MBMichael S. Byrd is a partner at the law firm of ByrdAdatto, a national business and healthcare boutique law firm. As the son of a doctor and entrepreneur, Michael has a personal connection to both business and medicine, and he has blended these life experiences to become a leading advocate for doctors and dentists throughout the United States. Today he joins the show to share his advice for any physicians looking to become involved in entrepreneurial activities, including running a private p...
2 | Lessons from a Neurosurgeon-Attorney-CEO with Jeffrey Segal, MD, JD
October 01, 2020 10:01 - 38 minutes - 87.3 MBDr. Jeffrey Segal is a board-certified neurosurgeon, attorney and founder of Medical Justice, a physician-based organization focused on keeping doctors from being sued for frivolous reasons. He is also the founder of eMerit, which helps doctors protect and preserve their reputations—particularly online. Jeff joins the show today to discuss his journey from physician to CEO to attorney to CEO. Listen in as he explains what it takes to launch a venture and why there are always lessons to lea...
1 | Job Choices, Financial Modeling and Investing – Lessons So Far from a Millennial Surgeon with Dr. Sanjeev Bhatia
October 01, 2020 10:00 - 28 minutes - 66.1 MBWelcome to the Wealth Planning for the Modern Physician podcast, where your host, David Mandell, JD, MBA addresses the most common concerns surrounding financial freedom and shares his tips for gaining independence. Listen in as David speaks with physicians, thought leaders, and industry experts about the steps they took to secure their financial futures, and lessons learned through their careers. In this opening episode, Sanjeev Bhatia, MD, joins the show to discuss investing, making in...
Wealth Planning for the Modern Physician: A Podcast Trailer
September 23, 2020 21:01 - 4 minutes - 10.8 MBListen in for a hint of what's to come from the Wealth Planning for the Modern Physician podcast!