Group Practice with Neal Goldstein

By Neal Goldstein

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 strate... more

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FAQs about Group Practice with Neal Goldstein:

How many episodes does Group Practice with Neal Goldstein have?

The podcast currently has 32 episodes available.

Group Practice with Neal Goldstein episodes:

September 22, 2026 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
...more
15min
September 15, 2026 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
...more
29min
September 08, 2026 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.
...more
24min
September 01, 2026 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
...more
45min
August 25, 2026 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.
...more
15min
August 18, 2026 The Art of the Physician Buyout
Retiring from a medical group does not guarantee a massive payout. If you breach your non-compete, you could lose everything.
Neal Goldstein breaks down the financial realities of partner redemptions in medical group practices. This breakdown reveals how to fairly value hard assets and accounts receivable while protecting the practice from bad leavers. It is essential listening for any physician navigating a buyout or succession plan.
What you will learn:
● Buyout prices should equal the initial buy-in amount to maintain parity. ● Hard asset payouts should mirror the buy-in structure and be paid over two to three years.
● Accounts receivable collections should be paid out for no more than 12 to 24 months.
● Partners who leave without sufficient notice can be penalized with an overhead charge on their collections.
● Doctors leaving for warmer climates before retirement may forfeit their full buyout amount.
● Breaching a non-compete agreement can result in the complete loss of a buyout payment.
● Private equity transactions do not set the standard market rate for standard medical partner redemptions.
Timestamps:
00:00: Structuring medical buyout parity.
01:57: Calculating hard asset and AR values.
05:57: Penalties for insufficient departure notice.
10:30: Practicing out of state after retiring.
13:39: Handling practice leases and loans.
18:55: Breaching your medical non-compete.
19:40: Private equity vs standard buyouts.
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: https://www.linkedin.com/in/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.
#Healthcare #Business #MedicalPractice #PhysicianBuyout #PrivateEquity #HealthcareLaw #GroupPractice #PartnerRedemption #NealGoldstein
...more
26min
August 11, 2026 A Pod on Redemption
Forcing a medical partner to sell their shares feels brutal, but failing to do it can destroy your entire group practice.
Neal Goldstein reveals the complex realities of partner redemptions in medical groups. This discussion breaks down why mandatory buyouts are actually essential for succession planning and how to protect your organization from legal friction. If you run a group practice or plan to become a partner, this is required listening.
What you will learn:
● The critical difference between voluntary departures and mandatory partner redemptions.
● Why productivity-based buyouts are rare in physician groups but common in law firms.
● How mandatory age-based buyouts fuel healthy succession planning and organizational growth.
● The specific strategy to avoid age discrimination lawsuits when requiring older partners to step down.
● Why you should never guarantee ongoing employment upfront to a partner who was just bought out.
● How early profit-sharing plans prevent the tragedy of a doctor who cannot afford to retire.
● The exact structural provisions needed to handle a partner who flatly refuses to sell their shares.
Timestamps:
00:00 – Introduction to medical partner buyouts
02:13 – Understanding mandatory redemptions
04:54 – Reaching redemption age and succession planning
07:50 – Avoiding age discrimination claims
09:28 – Employing a physician after their buyout
11:34 – Handling partners who cannot afford retirement
15:00 – Dealing with partners who refuse to redeem
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: https://www.linkedin.com/in/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.
#GroupPractice #HealthcareLaw #PartnerBuyout #MedicalPractice #SuccessionPlanning #PhysicianRetirement #BusinessOfMedicine #HealthcareBusiness #PracticeManagement #MedicalGroup #PartnershipAgreement
...more
18min
August 04, 2026 The False Comfort of Federal Carveouts
Medical practices think shielding Medicare patients from private deals keeps them safe from fraud laws. That false comfort can ruin your medical career.
Healthcare attorney Neal Goldstein breaks down the dangerous reality of federal carve-outs in medical contracts. This breakdown reveals how state laws and hidden kickback definitions trap unsuspecting doctors. It is essential listening for practice owners and healthcare administrators looking to protect their clinics.
What you will learn:
● The actual definition of a federal carve-out and why it creates a false sense of security for physicians.
● How the Anti-Kickback Statute, Stark Law, and False Claims Act apply to modern healthcare contracts.
● Why the Office of Inspector General views these private arrangements as disguised remuneration for federal business.
● How treating just one federal patient can trigger massive legal consequences for your entire arrangement.
● The exact reason state statutes like the Insurance Claims Fraud Prevention Act can destroy private pay setups.
● Lessons from the 2007 Chicago MRI scandal where 20 centers were caught executing sham per-click leases.
● Why you must never trust a medical salesperson’s legal assurances over your own healthcare attorney.
Timestamps:
00:00 – Defining federal carve-outs in healthcare contracts
00:44 – The three main federal fraud and abuse laws explained
03:47 – The Office of Inspector General’s view on disguised kickbacks
07:01 – Hidden risks of secondary payers and commercial insurance
09:58 – State-level enforcement and the Illinois MRI kickback scandal
16:40 – Why trusting industry salespeople is a major liability
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: https://www.linkedin.com/in/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.
#HealthcareLaw #MedicalPractice #AntiKickbackStatute #StarkLaw #HealthcareFraud #MedicalCompliance #HealthcareAdministration #HealthLaw #GroupPracticePodcast #FederalCarveOuts
...more
21min
July 28, 2026 Michael Kroin of Physician Growth Partners: Key Considerations When Selling to Private Equity
Selling your medical practice is the biggest financial decision of your life, but going into negotiations without an expert is a massive mistake.
Michael Kroin is the co-founder of Physician Growth Partners, an investment banking firm specializing in healthcare transactions. He breaks down why independent physicians need a specialized team to navigate the complex world of private equity buyouts, hospital consolidation, and payer pressure. If you are a doctor weighing the future of your independent group, this breakdown of the current market will help you decide if selling is your best strategic move.
What you will learn:
● Why relying only on your lawyer and accountant leaves money on the table during a practice sale.
● The three non-financial pillars of a successful private equity partnership: control, resources, and track record.
● How multiple bidders in a competitive process force buyers to offer better terms and higher valuations.
● Why younger doctors might benefit from selling now to avoid pouring millions into practice growth.
● The reality of the second bite and why future sales are shifting toward payers and distributors instead of larger funds.
● Why accepting your medical practice as a business arrangement is crucial to maintaining your independence.
Timestamps:
00:00 : Why Physicians Need an Investment Banker
03:01 : Evaluating Private Equity Cultural Fit and Control
06:09 : Creating Competitive Leverage to Maximize Valuation
10:00 : Navigating Healthcare Mergers and PGP’s Track Record
14:02 : Dispelling the Biggest Private Equity Myths in Medicine
20:12 : Why Younger Doctors Are Choosing to Sell Their Practices
30:52 : The Future of the Second Bite and Medical Acquisitions
35:29 : Treating Your Medical Group Like a Business Arrangement
Michael Kroin is the co-founder of Physician Growth Partners (PGP), a premier healthcare investment banking firm based in Chicago. Drawing from his family’s deep roots in medicine, Michael is a fierce advocate for independent physicians. He has successfully guided over 90 transactions, ensuring doctors find the right cultural and financial partners.
Website: physiciangrowthpartners.com
LinkedIn: https://www.linkedin.com/company/physician-growth-partners-llc/
New episodes every Tuesday, subscribe so you never miss one.
Spotify | Apple Podcasts | YouTube
Disclaimer
This episode is for informational and educational purposes only and does not constitute legal, financial, or medical advice.
#Business #Investing #MedicalPractice #PrivateEquity #HealthcareBusiness #PhysicianFinance #PracticeManagement #InvestmentBanking #MichaelKroin #GroupPracticePodcast
...more
45min
July 21, 2026 Contractual Indemnities
A single buried sentence in your hospital agreement could expose you to unlimited personal liability that your insurance absolutely refuses to cover.
Neal Goldstein reveals the immense financial dangers of contractual indemnity provisions found inside professional services agreements. This critical discussion breaks down why deep-pocketed hospitals shift their legal risk onto doctors and exactly how group practices can protect their personal assets. If you sign physician contracts, you must understand this devastating exclusion.
What you will learn:
● Why standard medical malpractice insurance explicitly excludes contractual indemnification claims.
● How hospital agreements force independent doctors to pay for corporate legal defense and early settlement costs.
● The exact contract wording you must watch out for in your next professional services agreement.
● Why large hospitals try to push negligent credentialing liability onto the shoulders of independent physicians.
● Actionable strategies to push back on in-house counsel and successfully negotiate out toxic clauses.
● How rejecting these unfair contractual provisions directly strengthens the future of independent private practice.
Timestamps:
00:00 – The danger of hospital indemnity clauses
00:43 – Breaking down standard physician contract language
04:02 – Why malpractice insurance denies indemnity coverage
06:33 – The infinite financial exposure of private doctors
11:00 – Hospital negligent credentialing tactics explained
15:02 – How to properly negotiate your professional services agreement
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: https://www.linkedin.com/in/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.
#Healthcare #MedicalBusiness #PhysicianContracts #MedicalMalpractice #PrivatePractice #HealthcareLaw #RiskManagement #MedicalGroup #ContractualIndemnity #PSAAgreements
...more
19min

FAQs about Group Practice with Neal Goldstein:

How many episodes does Group Practice with Neal Goldstein have?

The podcast currently has 32 episodes available.