James M. Dahle, MD, FACEP, founder of The White Coat Investor, joins the show to talk about common financial mistakes that physicians make — and what they should be doing instead.

For more financial advice, check out Dahle's Medical Economics article, "Achieving financial success as a physician: Mastering 5 money activities."

Also, learn how to "divorce-proof your marriage" with these eight tips from Physicians Practice. 

Oh, and be sure to check out Medical Economics Pulse, a quick-hitting news podcast that keeps busy physicians in the know.

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Introduction to the Podcast (00:00:13) 

Overview of the podcast and introduction of Jim Dahle, MD, FACEP, discussing financial mistakes for physicians.

Vision of the White Coat Investor (00:01:02) 

Dahle explains the mission of The White Coat Investor to help doctors manage their finances.

Handling Market Shocks (00:02:10) 

Discussion on how to approach investments during economic uncertainties and market volatility.

Financial Stress and Burnout (00:04:23) 

Exploration of the connection between financial issues and physician burnout.

Four Contributing Factors to Burnout (00:05:19) 

Dahle outlines the main factors contributing to physician burnout, including financial stress.

Financial Planning as a Solution (00:06:16) 

Emphasis on how good financial planning can alleviate burnout and improve career choices.

Promoting Clinical Resources (00:07:57) 

Mention of sister sites for clinical information and practice management resources.

Managing Medical Student Loans (00:08:27) 

Advice for young physicians on balancing student loan debt with building a financial foundation.

Current Student Loan Landscape (00:09:32) 

Analysis of the evolving situation regarding medical student loans and repayment options.

Strategies for Paying Off Student Loans (00:10:43) 

Recommendations for managing and paying off student loans effectively.

Financial Independence for Primary Care Physicians (00:12:42) 

Discussion on how primary care physicians can achieve financial independence despite lower earnings.

Increasing Income as a Primary Care Physician (00:14:58) 

Advice on negotiating salaries and improving income potential in primary care.

Common Financial Pitfalls for Physicians (00:15:58) 

Overview of frequent financial mistakes made by physicians and how to avoid them.

Qualities of a Good Financial Advisor (00:19:06) 

Guidance on what physicians should look for when selecting a financial advisor.

Stock Market as Gambling Trend (00:21:34) 

Concerns about treating stock market investments like gambling, particularly among younger physicians.

Understanding Long-Term Investing (00:22:20) 

Dahle explains the difference between short-term trading and long-term investing in profitable companies.

Speculative Investments Explained (00:24:14) 

Discussion on the risks of investing in speculative assets compared to legitimate businesses.

Evaluating Investment Opportunities (00:25:29) 

Dahle shares insights on how physicians should assess investment opportunities.

Importance of Insurance for Physicians (00:27:44) 

Highlighting the necessity of proper insurance coverage for financial security among physicians.

Finding White Coat Investor Resources (00:28:24) 

Information on where to access The White Coat Investor’s content and resources across various platforms.

Heather Bassett, MD, chief medical officer of Xsolis, joins the show to talk about prior authorizations and how artificial intelligence (AI) could change everything.

Be sure to check out Medical Economics Pulse, a quick-hitting news podcast that keeps busy physicians in the know.

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Introduction to Prior Authorizations (00:00:00) 

Discussion on how prior authorizations can frustrate physicians.

Overview of the Podcast (00:00:09) 

Austin Littrell introduces the podcast and the speakers.

Pain Points in Prior Authorization (00:01:07) 

Dr. Heather Bassett outlines the major challenges physicians face in prior authorizations.

Current Use of Technology (00:03:11) 

Discussion on how technology is currently applied in the prior authorization process.

Potential of AI in Healthcare (00:05:56) 

Exploration of how AI could help alleviate administrative burdens in prior authorizations.

Concerns About Automation (00:08:04) 

Discussion on risks of over-relying on automation and potential complications.

Impact of AI on Denials (00:16:05) 

Analysis of how AI might reduce inappropriate denials in the prior authorization process.

Future of Prior Authorizations (00:19:06) 

Speculation on how prior authorizations may evolve over the next 5 to 10 years.

Physician Involvement in Technology Development (00:23:45) 

Encouragement for physicians to engage in the development of prior authorization technologies.

The Importance of Physician Involvement (00:25:27) 

Discussion on the need for physicians to engage in projects for their voices to be heard.

The Role of AI in Healthcare (00:26:31) 

Emphasis on the inevitability of AI's integration into healthcare and the importance of education.

Addressing Fears Surrounding AI (00:26:37) 

Highlighting misconceptions about AI replacing jobs and its potential to enhance physician work.

Recognizing AI's Benefits and Risks (00:27:55) 

Acknowledgment of AI's imperfections but its advantages over manual processes in healthcare.

Closing Remarks and Acknowledgments (00:28:49) 

Concluding thoughts and thanks from Todd Shryock and Austin Littrell for the discussion.

Stephen A. Dickens, JD, MAEd, FACMPE, vice president of medical practice services at State Volunteer Mutual Insurance Company (SVMIC), joins the show to talk strategic planning and why it's so important for practices to stay prepared in times of uncertainty.

Be sure to check out Medical Economics Pulse, a quick-hitting news podcast that keeps busy physicians in the know.

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Introduction to Strategic Planning (00:00:22)

Austin introduces the podcast and discusses the importance of strategic planning in healthcare.

Stephen shares insights on the current economic uncertainty due to President Trump's tariffs and its implications.

Stephen discusses the evolving nature of strategic planning and the importance of focusing on patient care.

Discussion on how tariffs may negatively affect independent practices and patient care.

Advice on immediate actions practices can take to prepare for potential cost increases.

Exploration of how tariffs may affect daily operations and patient care in practices.

Stephen explains how to make strategic planning feel real and actionable for practices.

Indicators that a practice's strategy may need to be reassessed or reset.

Discussion on the importance of prioritizing long-term planning amidst daily administrative burdens.

Stephen shares a story illustrating how strategic planning positively impacted a medical practice.

Potential Changes in the Labor Market (00:19:24)

Discussion on the possibility of shifts in the labor market due to economic factors and staffing issues.

Neal K. Shah, CEO of CareYaya Health Technologies and co-founder of Counterforce Health, joins the show to talk about claim denials and how AI can help fight them.

Be sure to check out Medical Economics Pulse, a quick-hitting news podcast that keeps busy physicians in the know.

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Overview of the podcast and introduction of the guests discussing claim denials and AI's role.

Neil Shah shares his experience in healthcare and the impact of claim denials on patients.

Neil recounts his wife's cancer battle and the frustrations of dealing with denied claims.

Discussion on how insurance companies leverage AI against patients and providers.

Insight into the financial and administrative burdens claim denials impose on healthcare providers.

Details on how denied claims lead to significant financial losses for medical practices.

Discussion on the potential of AI to streamline the appeals process and reduce costs.

Neil introduces Counterforce Health and its mission to democratize access to AI tools.

Introduction of Maxwell, an AI designed to assist with health insurance appeals.

Maxwell shares shocking statistics about the financial impact of denied claims on practices.

Discussion of the three most common denial reasons that practices can address to improve collections.

Maxwell walks through a specific case of a denied claim for a CPAP machine.

Neil encourages providers to use the tools offered by Counterforce Health to combat claim denials.

Neil discusses potential reforms to the claim denial process and the need for better regulation.

Importance of educating patients about their rights regarding claim denials and appeals.

Neil emphasizes the need for advocacy and systemic change in the healthcare system.

Closing remarks and gratitude expressed for the discussion and insights shared.

Medical Economics Editorial Director Christopher Mazzolini and Senior Editor Richard Payerchin join the podcast to discuss the new issue of Medical Economics Insider,  our brand-new premium interactive digital edition designed to provide physicians with the in-depth insights and practical tools needed to thrive in today’s evolving health care landscape.

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Medical Economics Insider: https://www.medicaleconomics.com/view/medical-economics-insider-march-2025-save-your-practice

Leah Binder, president and CEO of The Leapfrog Group, joins the show to talk about notable trends in patient safety.

Be sure to check out Medical Economics Pulse, a quick-hitting news podcast that keeps busy physicians in the know.

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Introduction to Patient Safety (00:00:00)

Discussion on alarming statistics about patient harm in hospitals, highlighting the severity of the issue.

Overview of the Leapfrog Group (00:01:04)

Leah Binder introduces the Leapfrog Group's mission to improve health care quality and safety through public reporting.

Current Status of Patient Safety (00:02:38)

Leah Binder shares disturbing statistics about patient harm and preventable deaths in American health care.

Positive Trends in Patient Safety (00:04:51)

Despite bad news, Binder discusses successful hospitals demonstrating significant improvements in patient safety measures.

The Role of Physicians in Patient Safety (00:08:11)

Binder emphasizes the importance of primary care physicians using their voice to advocate for patient safety.

Building Relationships with Employers (00:10:29)

Discussion on the need for healthcare providers to connect with employers to enhance primary care's role.

Trends in Hospital Safety Measures (00:12:58)

Binder describes trends in maternity care procedures, noting significant reductions in episiotomy and elective deliveries.

Discussion on the deployment of technology, including computerized physician order entry systems, to enhance patient safety.

Artificial Intelligence in Healthcare (00:19:08)

Exploration of how AI could improve patient care and safety through real-time data synthesis and alert systems.

Policy Solutions for Patient Safety (00:23:21)

Binder discusses the need for federal lawmakers to enhance patient safety and quality through better transparency measures.

Quality Measurement in Healthcare (00:24:38)

Discussion on improving quality and safety measurements by utilizing EMRs instead of traditional claims data.

Future of Quality Monitoring (00:25:43)

Anticipation of advancements in enterprise-wide monitoring of quality and safety in health care systems.

Appreciation for Healthcare Providers (00:26:13)

Acknowledgment of the vital role clinicians play in improving lives and the collective emphasis on healthcare.

Closing Remarks (00:27:08)

Gratitude expressed for the conversation and the importance of ongoing discussions in health care.

Episode Wrap-Up (00:27:41)

Final thanks and encouragement to subscribe for future episodes and updates from Medical Economics.

Rohit Harve, a technical operations partner and health care expert with PA Consulting, joins the show to talk tariffs and their impact on the medical device industry.

Be sure to check out Medical Economics Pulse, a quick-hitting news podcast that keeps busy physicians in the know.

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Impact on Consumers (00:00:00)

Prices will be passed on to consumers, affecting doctors, patients, and health care providers.

Introduction to the Topic (00:00:14)

Austin Littrell introduces the episode and the guest, Rohit Harve, focusing on tariffs in the medical device industry.

Current Landscape of Tariffs (00:01:01)

Rohit discusses the volatile situation regarding tariffs and their effects on the medical device industry.

Profitability and Market Dynamics (00:01:20)

Tariffs impact profitability, growth, and market dynamics, especially in discretionary care segments.

Cost of Goods and Components (00:02:29)

Increased costs for components like semiconductors and materials will affect margins and pricing power.

Impact on Healthcare Costs (00:04:17)

Increased costs will ultimately affect health care expenses for consumers, doctors, and patients.

Supply Chain Issues (00:06:14)

Tariffs will complicate supply chains, pushing manufacturers to seek local suppliers amid regulatory challenges.

Challenges of Reshoring (00:09:07)

Moving complex manufacturing back to the U.S. is challenging due to time, cost, and skill shortages.

Competitiveness in Global Market (00:11:17)

Tariffs will hinder U.S. medical device companies' competitiveness and innovation in the global market.

Industry Response and Lobbying (00:12:22)

Active lobbying efforts are ongoing to address tariffs and their implications for the health care sector.

Future of Tariffs (00:14:12)

The likelihood of a deal on tariffs is uncertain, with potential adjustments in magnitude anticipated.

Uncertainty's Impact (00:15:18)

Uncertainty surrounding tariffs affects the medical device industry, though it may handle fluctuations better than others.

Insights on Efficiency (00:16:41)

Startups should focus on product efficiency and competitiveness in the global market amidst changing conditions.

Conclusion of Discussion (00:17:35)

Todd thanks Rohit for the insightful conversation on tariffs and their economic implications for health care.

Zed Williamson, founder and CEO of Physician Growth Accelerator, joins the show to talk about common challenges physicians face in private practice, explaining how to manage a successful practice without sacrificing patient care. For more from Zed and his team, check out the Physician Growth Accelerator website, podcast, and YouTube channel.

Plus, starting this Wednesday, March 19, find new episodes of the Physician Growth Accelerator podcast at MedicalEconomics.com.

Also, be sure to check out Medical Economics Pulse, a quick-hitting news podcast that keeps busy physicians in the know.

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Introduction to Burnout (00:00:00)

Discusses the misconception that burnout stems from busyness, emphasizing the emotional aspect instead.

Podcast Introduction (00:00:19)

Austin Littrell introduces the podcast and the guest speakers, setting the stage for the discussion.

Overview of Physician Growth Accelerator (00:01:05)

Zed Williamson explains the mission of his company and its focus on improving private practices.

Challenges in Private Practices (00:01:12)

Details the variability in outcomes among practices despite similar inputs, highlighting internal constraints.

Consulting Philosophy (00:02:26)

Zed describes the "do it with you" approach to consulting, emphasizing collaboration over mere advice.

Importance of Clinical Excellence (00:04:10)

Stresses that clinical excellence must be the primary focus of medical practices for patient trust.

Business vs. Patient Care Mindset (00:04:23)

Explains the need for physicians to shift their mindset from treating business issues like patient problems.

Cultural Foundations of Practice (00:07:01)

Discusses the significance of a supportive culture in practices and its impact on performance.

Creating a Supportive Culture (00:07:21)

Explores how to intentionally drive a practice's culture to align with its goals and values.

Revenue Cycle Management (00:09:22)

Highlights the importance of understanding the lifetime value of patients for better financial forecasting.

Managing Administrative Burdens (00:12:35)

Offers strategies for practices to proactively manage administrative tasks and reduce burdens.

Approaching Technology (00:14:48)

Discusses the double-edged sword of technology in practices and the importance of strategic implementation.

Shifting Mindsets for Business Success (00:18:19)

Encourages physicians to adapt their thinking to balance clinical practice and business management effectively.

Identifying the Destination (00:20:36)

Discusses the importance of setting measurable goals to guide physicians in their practice.

Addressing Physician Burnout (00:24:01)

Explores the causes of burnout and emphasizes rekindling passion for work to alleviate stress.

Creating a Better Work Environment (00:25:13)

Suggests ways to improve the working conditions for private practice physicians and reduce anxiety.

Ericka Adler, JD, of Roetzel & Andress, joins the show to discuss factors you should consider before selling your practice.

For more, be sure to check out Medical Economics Pulse, a quick-hitting news podcast that keeps busy physicians in the know.

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Overview of the podcast and introduction of the speakers discussing selling a medical practice.

Discussion on the compliance review process and its significance in the sale of a medical practice.

Exploration of how staff compliance affects the sale process and potential buyer decisions.

Insight into common billing issues that arise during due diligence and their implications.

Examination of how improper compensation can lead to compliance issues in medical practices.

Strategies for ensuring HIPAA compliance during the due diligence process when selling a practice.

Discussion on how different state laws can complicate the sale of multi-state practices.

Addressing misconceptions physicians have about the sales process and buyer expectations.

Examples of mistakes by practice owners that can lead to failed sales transactions.

Understanding that buyers evaluate more than just financials; they assess overall compliance and operations.

Comparison of due diligence levels between physician groups, private equity, and health systems.

Advice on whether to remove unqualified family members from payroll before selling.

Emphasis on the importance of early planning and thorough preparation before selling a practice.

Wrap-up of the conversation, highlighting key takeaways for physicians selling their practices.

Linda Stein Gold, MD, FAAD, discusses the late-breaking tapinarof cream 1% data from a new analysis of the ADORING-3 clinical trial. Interview recorded at the 2025 American Academy of Dermatology conference in Orlando, Florida. 

Topics discussed include: