Group Practice with Neal Goldstein

By Neal GoldsteinBusiness Entrepreneurship Medicine Health & Fitness

Group Practice with Neal Goldstein episodes

October 27 Conflicts of Interest
What happens when 19 partners sign your conflict of interest disclosure and one refuses? If your governance documents don’t have an answer, your practice is exposed.
Healthcare attorney Neal Goldstein breaks down how private physician groups should approach conflict of interest policies without turning into policing organizations. Designed for physician owners, practice executives, and medical group boards, this breakdown covers the exact financial relationships that threaten your compliance and bottom line, and how to handle partner non-compliance before it fractures your group.
What you will learn:
● Why private physician practices do not need hospital-style financial disclosures, and how Stark II and tax-exempt rules drive hospital compliance.
● The difference between policing every partner’s passive outside investments and requiring self-reported material disclosures.
● Why partner ownership in a competing ambulatory surgery center is a massive business risk to your group’s strategic capital.
● How outside financial relationships with designated health service (DHS) providers like imaging centers, labs, and physical therapy trigger Stark Law exposure.
● Why medical director or management agreements with local hospitals must be disclosed as direct competitive threats.
● How the “selective enforcement trap” turns an unenforced compliance policy into a retaliation or hostile work environment lawsuit.
● How to structure confidential reporting channels and tiered disclosures so partners protect their privacy while board leaders fulfill their fiduciary duties.
● How to separate disciplinary actions from partnership remedies when a productive physician refuses to act like a partner.
Timestamps:
00:00:21: Conflicts of Interest and Governance in Physician Groups
00:02:29: Do Private Practices Need Hospital-Style Financial Disclosures?
00:04:17: How Stark Law and Anti-Kickback Statutes Impact Group Practices
00:10:18: The 4 Financial Conflicts Every Physician Group Must Track
00:14:05: Managing Disclosed Conflicts vs. Prohibiting Outside Investments
00:15:00: What to Do When a Physician Partner Refuses to Disclose
00:17:19: Avoiding the Selective Enforcement Trap in Practice Governance
00:18:48: Practical Frameworks for Confidential Reporting and Partner Remedies
About the Host:
Neal Goldstein is a healthcare corporate attorney and the host of Group Practice, where he helps physician owners, medical group executives, and healthcare leaders navigate the business and legal realities of independent medicine. He specializes in physician group governance, mergers and acquisitions, regulatory compliance, and strategic practice growth.
Website: https://www.pfs-law.com/
Website: https://www.goldsteingrouppractice.com/
Website: https://nealtgoldstein.com/
LinkedIn: https://www.linkedin.com/in/neal-t-goldstein-841aa652/
New episodes every Tuesday, subscribe so you never miss one.
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Disclaimer: The information provided in this video is for educational and informational purposes only and does not constitute formal legal advice or establish an attorney-client relationship.
#PhysicianPractice #HealthcareCompliance #StarkLaw #MedicalGroupManagement #HealthcareLaw #PhysicianLeadership #GroupPractice #PrivatePracticeMedicine #HealthcareGovernance #PhysicianContracts
26 min
October 20 Specialty Networks
That lucrative new specialty care network contract might actually be an illegal kickback scheme in disguise.
Specialty care networks are rapidly expanding in commercial healthcare by using bundled payments to control costs. In this solo breakdown, healthcare attorney Neal Goldstein examines how physician groups and healthcare executives can distinguish legitimate value-based networks from disguised pay-for-referral schemes that violate the Federal Anti-Kickback Statute.
What you will learn:
● How legitimate specialty care networks mirror Medicare bundled payment models to lower commercial healthcare costs for employers and TPAs.
● Why paying a physician participation fee to join a network is a major Anti-Kickback Statute warning sign when the network should be funded by payers or shared savings.
● The difference between acceptable network marketing and illegal commission-based patient generation under federal law and state fee-splitting statutes.
● Why carving out Medicare and Medicaid patients provides false comfort unless the network operates solely in a legitimate state-regulated niche like workers’ compensation.
● How termination without cause clauses can be manipulated to adjust fees based on referral volume unless a strict one-year sit-out provision is included in the contract.
● Why a compliant specialty network must assume genuine financial downside risk on bundled payments rather than acting purely as a patient sales broker.
● The operational markers of a legitimate network, including defined clinical care pathways, data analytics, and active care management.
Timestamps:
00:00:00: Anti-Kickback Statute risks in specialty care networks
00:02:17: How legitimate specialty networks use bundled payments
00:04:00: True care management vs disguised referral schemes
00:06:45: Warning sign 1: Physician participation fees
00:09:05: Warning sign 2: Marketing as the primary network service
00:10:31: Warning sign 3: The false comfort of federal carve-outs
00:13:00: Warning sign 4: Termination clauses without a one-year sit-out
00:15:09: Warning sign 5: Networks taking zero financial downside risk
00:17:11: Warning sign 6: Lack of meaningful clinical pathways and data services
Neal Goldstein is an experienced healthcare attorney, advisor, and host of Group Practice, dedicated to helping physician leaders navigate complex legal, financial, and governance structures. He counsels medical groups on sustainable growth, partner alignment, and sound operational decision-making. His strategic guidance ensures independent practices stay profitable and resilient in rapidly consolidating markets.
Website: https://www.pfs-law.com/
Website: https://www.goldsteingrouppractice.com/
Website: https://nealtgoldstein.com/
LinkedIn: https://www.linkedin.com/in/neal-t-goldstein-841aa652/
New episodes every Tuesday, subscribe so you never miss one.
Spotify | Apple Podcasts | YouTube
This content is for informational and educational purposes only and does not constitute formal legal or financial advice.
#HealthcareLaw #MedicalPractice #AntiKickbackStatute #HealthcareCompliance #PhysicianGroup #BundledPayments #ValueBasedCare #MedicalLaw #SpecialtyCareNetwork #OIGCompliance
20 min
October 13 Anti Kickback Statute and Suspect Joint Ventures
Think your new healthcare joint venture is legally protected? Strip away the corporate shell and the OIG might see a disguised illegal kickback.
In this episode of Group Practice, healthcare attorney Neal Goldstein breaks down the legal dangers of contractual joint ventures under the federal Anti-Kickback Statute (AKS). Using the 2003 OIG Special Advisory Bulletin and real-world OIG Advisory Opinion 21-18, this breakdown shows practice owners, healthcare executives, and compliance counsel exactly how seemingly standard business expansions trigger federal fraud scrutiny.
What you will learn:
● The core purpose test of the federal Anti-Kickback Statute and why simple business deals fail it.
● The 5 specific indicia the OIG uses to identify suspect contractual joint ventures.
● Why NewCo shell entities fail to shield owners when turnkey services eliminate bona fide business risk.
● A deep dive into OIG Advisory Opinion 21-18 involving physical therapy management and skilled nursing facilities.
● Why an arrangement does not need to hit all five suspicious criteria to receive an unfavorable OIG ruling.
● How disguising management fee revenue splits functions as remuneration for patient referrals.
● The critical practitioner gut check: balancing profitability against genuine patient-first care.
Timestamps:
00:00 — Anti-Kickback Statute and OIG Safe Harbors Explained
01:43 — The 2003 Contractual Joint Venture Advisory Bulletin
04:12 — Five Indicia of Suspect Joint Venture Arrangements
07:27 — OIG Advisory Opinion 21-18: The SNF and Therapy Deal
11:42 — How the NewCo Management Structure Was Built
14:45 — Why Turnkey Operations Lack Bona Fide Business Risk
16:36 — Peeling Back Corporate Camouflage on Disguised Kickbacks
18:37 — Respect for the Patient: The Practitioner Gut Check
Neal Goldstein is an experienced healthcare attorney, advisor, and host of Group Practice, dedicated to helping physician leaders navigate complex legal, financial, and governance structures. He counsels medical groups on sustainable growth, partner alignment, and sound operational decision-making. His strategic guidance ensures independent practices stay profitable and resilient in rapidly consolidating markets.
Website: https://www.pfs-law.com/
Website: https://www.goldsteingrouppractice.com/
Website: https://nealtgoldstein.com/
LinkedIn: https://www.linkedin.com/in/neal-t-goldstein-841aa652/
New episodes every Tuesday, subscribe so you never miss one.
Spotify | Apple Podcasts | YouTube
This content is for informational and educational purposes only and does not constitute formal legal or financial advice.
#healthcarelaw #healthcareregulations #antikickbackstatute #oigcompliance #healthcarecompliance #jointventures #skillednursingfacility #medicarefraud #healthlawyer #grouppractice
24 min
October 01 Case Keenum and the Value of Experience
Artificial intelligence is accumulating human experience at a rapid pace, but there is one critical skill it can never replicate: human judgment.
Host Neil Goldstein breaks down the Chicago Bears’ victory over the Philadelphia Eagles to uncover a powerful lesson about the 10,000-hour rule. By comparing a 14-year NFL journeyman’s preparedness to a physician’s daily practice, this breakdown reveals why doctors are uniquely equipped to master the business of medicine.
What you will learn:
● Why the 10,000-hour rule is truly about accumulating diverse experience rather than just narrow expertise.
● How 14 years in the NFL prepared a backup quarterback to lead a high-stakes Monday night victory.
● The truth behind the myth that medical professionals lack inherent business skills.
● Why artificial intelligence serves as an accelerator for data but completely fails at nuanced decision-making.
● How physicians can leverage their clinical judgment to succeed in private practice and broader business ventures.
Timestamps:
00:00 – The Chicago Bears Monday Night Football upset
01:46 – Case Keenum and the reality of a 14-year NFL journeyman
03:00 – Rethinking Malcolm Gladwell and the 10,000-hour rule
04:55 – Why preparedness and experience beat raw expertise
06:06 – Debunking the myth that physicians are bad at business
06:58 – How artificial intelligence impacts the medical profession
08:06 – The one critical advantage human doctors have over AI
Neal Goldstein is an experienced healthcare attorney, advisor, and host of Group Practice, dedicated to helping physician leaders navigate complex legal, financial, and governance structures. He counsels medical groups on sustainable growth, partner alignment, and sound operational decision-making. His strategic guidance ensures independent practices stay profitable and resilient in rapidly consolidating markets.
Website: https://www.pfs-law.com/
Website: https://www.goldsteingrouppractice.com/
Website: https://nealtgoldstein.com/
LinkedIn: https://www.linkedin.com/in/neal-t-goldstein-841aa652/
New episodes every Tuesday, subscribe so you never miss one.
Spotify | Apple Podcasts | YouTube
This content is for informational and educational purposes only and does not constitute formal legal or financial advice.
#MedicalBusiness #HealthcareAI #PhysicianEntrepreneur #PrivatePractice #MedicalPractice #BusinessOfMedicine #PracticeManagement #GroupPractice #10000HourRule #CaseKeenum #ChicagoBears #MedicalAI
11 min
September 29 Physician Burnout
Medicine is facing a crisis of declining pay, AI threats, and corporate takeovers. But the death of the private medical practice is a myth.
Neal Goldstein brings 37 years of legal experience representing physician groups to tackle the harsh realities driving doctor burnout today. He unpacks the exact pressures forcing younger physicians out of the field and reveals why independent medicine is still highly viable. This is a critical wake-up call for any medical professional questioning their future in healthcare.
What you will learn:
● The hidden impact of post-COVID social shifts on daily patient care and physician isolation. ● Why declining reimbursements for major surgeries are pushing specialists to the breaking point.
● How the rise of private equity and hospital consolidation strips power away from independent doctors.
● The truth about AI in medicine and whether fields like radiology are actually at risk.
● Strategies to shift your perspective and tap into the original calling that brought you to medicine.
Timestamps:
00:00 — The reality of professional burnout
04:25 — How AI and remote work changed professional behavior
08:00 — Why younger physicians are facing unprecedented burnout
08:55 — The devastating impact of declining medical reimbursements
10:20 — Electronic medical records and the charting burden
12:45 — Private equity in healthcare and alternative career paths
17:25 — How to take control of your private medical practice
Neal Goldstein is an experienced healthcare attorney, advisor, and host of Group Practice, dedicated to helping physician leaders navigate complex legal, financial, and governance structures. He counsels medical groups on sustainable growth, partner alignment, and sound operational decision-making. His strategic guidance ensures independent practices stay profitable and resilient in rapidly consolidating markets.
Website: https://www.pfs-law.com/
Website: https://www.goldsteingrouppractice.com/
Website: https://nealtgoldstein.com/
LinkedIn: https://www.linkedin.com/in/neal-t-goldstein-841aa652/
New episodes every Tuesday, subscribe so you never miss one.
Spotify | Apple Podcasts | YouTube
This content is for informational and educational purposes only and does not constitute formal legal or financial advice.
#Entrepreneurship #BusinessGrowth #HealthcareManagement #MedicalPractice #PhysicianLeaders #HealthcareBusiness #PracticeManagement #NealGoldstein #GroupPracticePodcast
20 min
September 22 Dispelling the Myth
You have heard the insult for years: doctors are terrible at business. It is a complete myth, and objective data proves exactly why.
Host Neal Goldstein kicks off a new series on the governance and management of group medical practices. He breaks down why healthcare providers struggle with executive decisions and how successful private practices build wealth. This is essential listening for practice owners, managing partners, and clinical leaders ready to scale.
What you will learn:
● Why the 10,000-hour rule explains the disconnect between clinical brilliance and corporate strategy.
● How top physicians build profitable ventures by staying strictly adjacent to their primary specialty.
● The growth path taken by the founders of Illinois Bone and Joint Institute and EuroPartners.
● Why Scott Becker was able to turn a legal defense practice into a dominant healthcare media company.
● How to stop accepting the narrative that healers cannot be elite business leaders
Timestamps:
00:00 – The ultimate myth about physicians and corporate strategy
01:25 – Why the bad businessperson label is factually wrong
02:50 – Malcolm Gladwell and the 10,000-hour rule applied to medicine
05:25 – The true cost of spending 30 years mastering clinical care
08:00 – Case study on the Illinois Bone and Joint Institute
09:15 – How EuroPartners expanded into profitable ancillary services
11:00 – The adjacency strategy behind Becker’s Healthcare
12:45 – Reclaiming your identity as an exceptional healthcare provide
Neal Goldstein is an experienced healthcare attorney, advisor, and host of Group Practice, dedicated to helping physician leaders navigate complex legal, financial, and governance structures. He counsels medical groups on sustainable growth, partner alignment, and sound operational decision-making. His strategic guidance ensures independent practices stay profitable and resilient in rapidly consolidating markets.
Website: https://www.pfs-law.com/
Website: https://www.goldsteingrouppractice.com/
Website: https://nealtgoldstein.com/
LinkedIn: https://www.linkedin.com/in/neal-t-goldstein-841aa652/
New episodes every Tuesday, subscribe so you never miss one.
Spotify | Apple Podcasts | YouTube
This content is for informational and educational purposes only and does not constitute formal legal or financial advice.
#Entrepreneurship #BusinessGrowth #HealthcareManagement #MedicalPractice #PhysicianLeaders #HealthcareBusiness #PracticeManagement #NealGoldstein #GroupPracticePodcast
15 min
September 15 Leasing the Right Way
Standard medical office leases are built to favor the landlord. Missing the small print in pass-through costs can easily drain seven figures.
Healthcare attorney Neal Goldstein breaks down why medical practices need specialized commercial leasing teams before signing a long-term commitment. You will discover how landlords hide capital costs inside common area fees, why your developer should never serve as your tenant broker, and how proper legal drafting protects your clinical build-out. This guide is built specifically for physicians, practice administrators, and healthcare executives planning an expansion or relocation.
What you will learn:
● Why standard commercial brokers lack the specialized regional and clinical data required for medical office negotiations.
● The conflict of interest that occurs when hiring a real estate partner or developer as your tenant representative.
● How to prevent landlords from passing capital improvements, like building-wide roof replacements, directly into your operating expenses.
● How a 0.5% adjustment to property management fees saved one medical tenant over one million dollars across a 10-year term.
● Critical lease expiration provisions regarding expensive fixed assets such as MRIs, linear accelerators, and radiation-shielded walls.
● Practical negotiation strategies to balance default cure periods and avoid predatory holdover rent penalties.
Timestamps:
00:00: South Wacker Relocation Lessons
02:54: Picking a Specialized Medical Tenant Broker
05:39: The Value of a Dedicated Leasing Attorney
08:16: Term Sheets vs Final Lease Agreements
17:32: Capping CAM Fees and Structural Capital Expenses
21:00: Exit Clauses: Heavy Medical Fixtures and Build-Outs
23:25: Balancing Landlord Default Remedies and Holdovers
25:22: Architecture, Precision, and Contract Details
Neal Goldstein is an experienced healthcare attorney, advisor, and host of Group Practice, dedicated to helping physician leaders navigate complex legal, financial, and governance structures. He counsels medical groups on sustainable growth, partner alignment, and sound operational decision-making. His strategic guidance ensures independent practices stay profitable and resilient in rapidly consolidating markets.
Website: https://www.pfs-law.com/
Website: https://www.goldsteingrouppractice.com/
Website: https://nealtgoldstein.com/
LinkedIn: https://www.linkedin.com/in/neal-t-goldstein-841aa652/
New episodes every Tuesday, subscribe so you never miss one.
Spotify | Apple Podcasts | YouTube
This content is for informational and educational purposes only and does not constitute formal legal or financial advice.
#CommercialRealEstate #HealthcareBusiness #MedicalOfficeBuilding #PhysicianPractice #CommercialLeasing #HealthcareLaw #PracticeManagement #TenantRep #ContractNegotiation #LeaseNegotiations
29 min
September 08 Real Estate Strategies
Owning your medical building feels like guaranteed wealth, but it often drains your practice cash flow, inflates buy-ins, and creates bad incentives.
Neal Goldstein breaks down the critical financial and strategic pitfalls physician groups face when purchasing a medical office building. This breakdown explains why treating commercial property as an individual investment play rather than a cost-containment tool damages partner alignment. Ideal for managing partners, independent physicians, and healthcare leaders evaluating the lease-versus-own decision.
What you will learn:
● Why commercial real estate creates massive partner friction between senior founders and younger doctors
● How real estate equity turns partner buy-ins into an expensive barrier for new physician recruits
● The hidden cash flow drain retired partner buyouts place on medical group capital
● Why inflated internal rent creates a false sense of return while gutting practice margins
● The reason Fortune 500 companies routinely lease commercial property instead of owning it ● How debt service forces practices into suboptimal locations and excess square footage
● Why diverting leadership focus into landlord duties introduces a dangerous opportunity cost
Timestamps:
00:00 – The Reality of Owning Professional Service Real Estate
02:38 – Partner Alignment and Best Interests of the Practice
04:15 – Cost Containment and Fixed Asset Strategy
09:11 – The Barrier to New Physician Buy-Ins
11:10 – Staggered Buyouts and Practice Cash Flow Drains
12:51 – Real Estate ROI vs Medical Practice Overhead
16:16 – The Tail Wagging the Dog: Location and Space Traps
20:22 – Core Focus and the Opportunity Cost for Doctors
Neal Goldstein is an experienced healthcare attorney, advisor, and host of Group Practice, dedicated to helping physician leaders navigate complex legal, financial, and governance structures. He counsels medical groups on sustainable growth, partner alignment, and sound operational decision-making. His strategic guidance ensures independent practices stay profitable and resilient in rapidly consolidating markets.
Website: https://www.pfs-law.com/
Website: https://www.goldsteingrouppractice.com/
Website: https://nealtgoldstein.com/
LinkedIn: https://www.linkedin.com/in/neal-t-goldstein-841aa652/
New episodes every Tuesday, subscribe so you never miss one.
Spotify | Apple Podcasts | YouTube
This content is for informational and educational purposes only and does not constitute formal legal or financial advice.
24 min
September 01 How Physicians Can Build Great Businesses: A Conversation with Scott Becker
Most professionals think competition kills private practices. The reality is far worse: failing to niche down and scale teams will crush you first.
In this episode of Group Practice, host Neal Goldstein sits down with Scott Becker, founder of Becker’s Healthcare and longtime McGuireWoods partner. Together, they unpack how physician owners, healthcare leaders, and entrepreneurial attorneys can navigate industry consolidation, find high-margin niches, and build sustainable organizations without burning out.
What you will learn:
● Why picking a narrow niche creates massive market leverage over generalists
● How the physician shortage and training bottlenecks threaten independent medicine
● The real reason to build teams that make you entirely dispensable as a leader
● How following early customer demand signals beats theoretical business planning
● Why trial, error, and launching before you feel ready is essential for scale
● Strategies independent practices can use to thrive alongside hospital systems
Timestamps:
00:00 – The Reality of Building Resilient Businesses
04:30 – How Iterative Writing and Deep Work Shape Strategy
15:18 – Overcoming Fear of Failure and Launching Early
21:30 – The Power of Dominating a Hyper-Specific Niche
29:00 – The State of Private Practice vs Hospital Systems
35:33 – Physician Shortages, Training Bottlenecks, and Healthcare Demographics
41:15 – Scaling Companies by Making Yourself Dispensable
Scott Becker is the founder and publisher of Becker’s Healthcare, a top national healthcare media enterprise. He is a partner at McGuireWoods, where he previously chaired the healthcare department, and is the author of Building Great Businesses. Scott also hosts two top-ranked shows: the Becker’s Healthcare Podcast and the Becker Private Equity and Business Podcast.
Connect with Scott:
● Website: https://www.beckershospitalreview.com
● Book Link: https://www.amazon.com/exec/obidos/ASIN/1637635400?tag=simonsayscom
● LinkedIn: https://www.linkedin.com/in/scottbeckermw/
Show subscribe and platform links
New episodes every week — subscribe so you never miss a conversation on the business of medicine.
Spotify | Apple Podcasts | YouTube
Disclaimer
This episode is for informational and educational purposes only and does not constitute legal, financial, or medical advice.
#HealthcareBusiness #PrivatePractice #HealthcareLeadership #PhysicianLeadership #HealthLaw #MedicalPractice #BusinessStrategy #HealthcareInnovation #Entrepreneurship #GroupPractice
45 min
August 25 Wind-Down Before Redemption: A Sound Approach for the Physician and the Group
Transitioning from sixty to zero miles an hour is dangerous for retiring doctors and bad business for medical group practices.
Host Neal Goldstein explains the critical concept of physician wind down status. This strategy allows senior partners to reduce their clinical and administrative burdens while paving the way for younger talent to ascend within the organization. Group leaders and retiring practitioners will discover how to create a smooth exit transition that benefits the entire practice.
What you will learn:
● Why the traditional partnership mentality fails for physically demanding medical roles.
● How a structured wind down period prevents an abrupt stop to a clinical career.
● Strategies for providing overhead relief to doctors transitioning out of a productivity formula.
● The exact reasons you should remove senior partners from the on-call schedule.
● How mandatory redemption timelines benefit the succession of younger practitioners.
● The optimal age and service requirements to qualify for partnership wind down.
● Why an exit period lasting one to two years creates the smoothest transition for patient care.
Timestamps:
00:00 The physical reality of physician retirement
01:43 A hard lesson from the accounting industry
04:02 Why doctors require a different exit strategy
05:44 Defining the physician wind down period
08:02 How to lessen the burden on senior partners
09:47 Removing doctors from the call pool
10:23 Setting age and eligibility requirements
12:28 Determining the perfect transition timeline
Neal Goldstein is an experienced healthcare attorney, legal strategist, and board member specializing in medical practice structures. He served as the structural engineer for the founding of the Illinois Bone and Joint Institute and has provided guidance on healthcare governance through his work on hospital system boards. His work focuses on navigating the Stark Law, corporate practice of medicine doctrines, and professional risk management
Website: https://www.pfs-law.com/
Website: https://www.goldsteingrouppractice.com/
Website: https://nealtgoldstein.com/
LinkedIn: / neal-t-goldstein-841aa652
Show subscribe and platform links
New episodes every week — subscribe so you never miss a conversation on the business of medicine.
Spotify | Apple Podcasts | YouTube
Disclaimer
This episode is for informational and educational purposes only and does not constitute legal, financial, or medical advice.
15 min

About Group Practice with Neal Goldstein

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Group Practice with Neal Goldstein is a podcast providing insights on law, business, and physician group practices. Each episode provides valuable information on successful legal structures and…

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About Group Practice with Neal Goldstein