In Episode 6.13, Dr. Joshua Lowentritt joins host David Mandell to explore the rapidly evolving role of artificial intelligence in medicine. Dr. Lowentritt shares his 25+ year journey as a practicing physician and healthcare leader, highlighting how Hurricane Katrina reshaped his professional outlook and entrepreneurial path. From building physician-owned organizations to investing in startups, his career reflects a deep commitment to improving healthcare delivery. Today, that mission increasingly centers on leveraging AI to enhance both physician experience and patient outcomes.

A central focus of the conversation is the use of AI-powered ambient scribes in clinical practice. Dr. Lowentritt explains how tools like AI documentation assistants have reduced administrative burden, lowered cognitive load, and allowed him to reconnect with patients at a human level. Rather than typing throughout visits, he now maintains eye contact, listens more fully, and spends more time counseling patients. Beyond documentation, AI tools assist with chart summaries, clinical decision support, population health prioritization, and genetic testing insights—streamlining workflows and improving proactive care.

The episode also explores critical guardrails for AI adoption. Dr. Lowentritt emphasizes the importance of data privacy, informed patient consent, verifying clinical sources, and using multiple evidence-based references when relying on large language models. Drawing on Everett Rogers' Diffusion of Innovations theory, he discusses why physicians—traditionally cautious adopters—have embraced AI more rapidly than expected. Ultimately, he argues that AI will not replace physicians but will supplement them, allowing doctors to focus on judgment, empathy, context, and patient connection—the highest value aspects of medicine.

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In this episode, David Mandell speaks with Teri Yates, founder and CEO of Accountable Physician Advisors, about the realities of building, sustaining, and scaling independent medical practices. Drawing from her background in healthcare administration and consulting, Teri explains why private practice remains viable—and necessary—despite increasing consolidation in healthcare. She emphasizes that autonomy, not just income, is often the driving force behind physicians choosing independence.

A central theme of the conversation is disciplined decision-making. Teri outlines why financial feasibility studies are essential before launching a practice and shares that more than half of such studies result in physicians deciding not to move forward. This intentional filtering, she explains, protects physicians from undercapitalization, unrealistic expectations, and long-term financial strain.

The discussion also explores operational excellence in established practices, including revenue cycle management, staffing challenges, and leadership responsibilities. Teri underscores the importance of investing in the right people, using data to drive decisions, and creating workplace cultures that attract and retain high-performing employees. She concludes with an optimistic outlook on the future of private practice, citing efficiency, physician satisfaction, and patient access as key reasons it will continue to play a vital role in healthcare.

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In Part 2 of the conversation with Dr. Peter Staats, the discussion expands beyond clinical medicine into leadership, advocacy, entrepreneurship, and the business realities shaping modern healthcare. Dr. Staats reflects on his extensive involvement in professional medical societies, explaining how each organization served a different mission—from physician advocacy and scientific advancement to global education and charitable efforts aimed at improving standards of pain care worldwide.

The episode also explores Dr. Staats' entrepreneurial journey, including the founding of electroCore and his work in non-invasive vagus nerve stimulation. He candidly describes the challenges of bringing innovation to market, particularly the long and often frustrating path from FDA approval to insurance reimbursement. His experience highlights the significant risks, persistence, and strategic partnerships required to translate medical innovation into widely accessible patient care.

Finally, Dr. Staats shares lessons from building and scaling large physician practices, navigating mergers and private equity, and balancing clinical integrity with executive decision-making. He concludes with guidance for younger physicians, emphasizing that long-term success comes from maintaining patient-centered values, protecting one's integrity, and approaching business opportunities thoughtfully rather than chasing short-term financial gain.

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In Part one of this two‑part conversation, Dr. Peter Staats shares the formative experiences that shaped his path into anesthesiology and pain medicine, beginning with his upbringing in Hawaii and the profound intellectual influence of his father, a pioneering academic psychologist. This early exposure to integrative thinking laid the groundwork for Dr. Staats' approach to medicine, one that challenged traditional silos and emphasized the interconnectedness of behavior, psychology, and physiology. His medical training, initially aimed toward orthopedic surgery, ultimately shifted toward anesthesiology after a transformative clinical experience that revealed the power of precision, innovation, and patient‑centered care.

Dr. Staats reflects on his academic career at Johns Hopkins University, where he became the youngest division chief and helped define the early landscape of modern pain medicine. He describes the opportunities that academic medicine provided, including time for research, access to world‑class collaborators, and a platform to develop and publish groundbreaking work such as new pain treatment modalities and clinical trials. At the same time, he candidly addresses the financial realities of academic medicine and the operational challenges that pushed him to pursue business education, ultimately earning an MBA out of necessity rather than intention.

The episode also explores Dr. Staats' eventual transition from academia to private practice, highlighting the stark differences in mindset, efficiency, and incentives between academic institutions and entrepreneurial medical practices. He discusses the importance of ethics, operational discipline, and financial literacy in building sustainable practices, as well as the risks physicians face when evaluating partnership opportunities without fully understanding compliance, billing, and incentive structures. Part 1 sets the stage for deeper discussions in Part 2 around leadership, industry involvement, and large‑scale impact beyond clinical care.

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Dr. David Koronkiewicz, a retired orthopedic surgeon and current leader in healthcare quality, safety, and risk management, joins the podcast to discuss two major issues affecting physicians today: the peer review system and workplace violence in healthcare. Drawing from more than 30 years in clinical practice and extensive experience in administrative leadership, he offers a rare, multidimensional perspective on how internal hospital processes can deeply impact a physician's career, finances, and long‑term wellbeing.

Koronkiewicz explains how peer review—originally intended to ensure quality care—can be weaponized for political or competitive reasons. Sham peer review cases can lead to devastating outcomes including damaged reputations, loss of privileges, reporting to the National Practitioner Data Bank, and severe financial fallout. He highlights the importance of understanding hospital bylaws, due process, legal protections, and obtaining proper insurance coverage to safeguard against these risks.

The conversation then shifts to violence and bullying in healthcare environments. Koronkiewicz shares eye‑opening statistics about the rise in aggression toward healthcare workers, particularly post‑COVID. He emphasizes how hierarchical culture, burnout, sexual harassment, and lateral bullying all contribute to worsening morale, poorer patient outcomes, and increased turnover. He concludes by offering practical advice for early‑career physicians: stay informed, protect yourself, document everything, uphold professionalism, and never assume the system alone will keep you safe.

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Attorney Bo Loeffler returns to the podcast to revisit with David the foundational principles of asset protection—what it is, why physicians need it, and how proper timing and structure make all the difference. The conversation begins with an overview of risk for physicians, from malpractice and employee claims to real estate liability and auto accidents and stresses the importance of addressing these risks before they arise. Bo and David emphasize the crucial concept that asset protection is only effective when implemented ahead of any foreseeable claim.

The discussion then shifts to the three legs of the asset protection stool: proper insurance coverage, state-specific exempt assets, and legal tools such as LLCs and irrevocable trusts. Bo highlights how differences between state laws—especially Ohio's robust statutes—can dramatically impact the success of an asset protection plan. They also explain how tools such as LLCs and Domestic Asset Protection Trusts can be structured to protect against creditors through features like charging orders, sole-remedy statutes, and sate-specific limitations on creditor remedies.

Finally, the episode examines real legal cases—including one in Colorado involving LLC misuse and one in Delaware validating long-standing asset protection trust structures—to illustrate what works and what fails in the real world. David concludes by drawing a parallel to medicine: asset protection requires both "surgery" (establishing tools) and "rehab" (proper, ongoing maintenance). With Bo's deep experience drafting state statutes and litigating these issues, the episode provides a practical, high-level roadmap for physicians looking to protect their personal and professional assets.

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In this episode, host David Mandell welcomes Dr. Paul Lynch, a double board-certified anesthesiologist and pain management specialist, entrepreneur, and business leader. Dr. Lynch shares his remarkable journey from aspiring psychiatrist to pain medicine innovator—a shift inspired by his mother-in-law's battle with cancer and the discovery of interventional pain treatments that could transform patients' lives. His early experiences at the Mayo Clinic shaped his belief in comprehensive, integrated care—a philosophy that became the foundation for his first practice, Arizona Pain, which quickly became one of the nation's leading pain management centers.

Dr. Lynch details how entrepreneurial thinking, coupled with strategic use of digital tools, drove his success. His story of launching a medical website during fellowship—eventually ranking number one on Google before opening his doors—illustrates how physicians can use education-based marketing to reach patients and grow responsibly. As his career evolved, Dr. Lynch founded U.S. Pain Care, intentionally designed to avoid the mistakes of his first venture. Through introspection and what he calls his "Manifesto of 53 Errors," he now builds companies around lessons learned, focusing on empowering other physicians with ownership, autonomy, and ethical profitability.

The discussion also delves into real estate, private equity, and long-term business strategy in medicine. Dr. Lynch explains how owning medical real estate can be one of the most impactful and ethical ways for physicians to build wealth—separate from clinical care—highlighting the benefits of property ownership, long-term leasing, and physician-owned REITs. He closes with advice to doctors: never make fortunes "on the backs of patients." Instead, focus on providing excellent care while building wealth through smart business decisions, integrity, and surrounding yourself with expert advisors in law, finance, and real estate.

Learn more, including additional show notes, links, and detailed key takeaways, by visiting physicianswealthpodcast.com.

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In this episode of the Wealth Planning for the Modern Physician Podcast, David Mandell welcomes back Jerry Kelsheimer, President of Medic Management Group. With decades of experience in healthcare business management, Jerry discusses how the healthcare landscape has changed dramatically over the past five years, affecting physicians' financial performance and operational efficiency. He outlines the evolving challenges medical practices face—including reduced reimbursements, higher labor costs, and increasing patient demands and stresses the importance of disciplined, intentional business management.

Throughout the conversation, Jerry highlights common areas where practices can improve performance and financial outcomes. He identifies five operational areas ripe for improvement: front desk execution, administrative role clarity, revenue cycle management, compensation structures, and market development. By focusing on these, he explains, practices can identify hidden inefficiencies and regain profitability.

Finally, Jerry and David explore the emotional and leadership aspects of running a medical practice. Jerry shares his 'Four Cs' framework—conscience, competency, capacity, and courage—as a way for physicians to address burnout and lead meaningful change. He also predicts a future shift toward more collaborative hospital-physician models, with hospitals moving away from full employment toward partnership-based structures.

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In this episode of the Wealth Planning for the Modern Physician Podcast, host David Mandell welcomes Dr. Jacqueline Winkelmann, a pediatric hospitalist and founder of Scrub Sisters. Dr. Winkelmann shares her journey from growing up in Puerto Rico, being inspired by her uncle's compassion and dedication to medicine and eventually pursuing pediatrics as her calling. She discusses how financial foresight and a unique tuition waiver allowed her to graduate debt-free, enabling her to maintain a balanced career and family life as a part-time physician at the Children's Hospital of Orange County.

Dr. Winkelmann describes her transition from clinical practice to non-clinical roles in the healthcare industry. Through opportunities that arose organically, she became a consultant and medical advisor for pediatric and consumer health companies, eventually serving as Chief Medical Officer for a baby monitor company. She reflects on the differences between clinical and corporate medicine, emphasizing the need for physicians entering industry to understand the profit-driven mindset of business and to address burnout before pursuing such transitions. Her story highlights the challenges, rewards, and ethical dilemmas physicians may face when moving from patient care to product innovation.

Finally, Dr. Winkelmann discusses her nonprofit organization, Scrub Sisters, a 501(c)(3) community dedicated to supporting and empowering female physicians at all stages of their careers. The group provides mentorship, fosters real-life discussions about work-life balance, and addresses challenges such as mental health, parenting, and financial stress. With chapters in multiple states and countries, Scrub Sisters is rapidly expanding its reach and aims to create scholarship opportunities to help women overcome the financial barriers of medical school applications. The episode concludes with Dr. Winkelmann's vision for growing this supportive, mission-driven community of women in medicine.

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In this second part of a two-part episode, host David Mandell continues his discussion with Dr. Jack Bert, a board-certified orthopedic surgeon and former president of the Arthroscopy Association of North America.

In this conversation, Jack emphasizes the importance of ancillaries in building a financially successful medical practice. He explains how orthopedists and other specialists can significantly increase revenue streams through owning or participating in ambulatory surgery centers (ASCs), imaging services, physical therapy, and durable medical equipment. Dr. Bert stresses that physicians should strive for ownership and control rather than settling for minority stakes in ventures that disproportionately benefit outside management companies.

The discussion transitions to contract negotiations, where Dr. Bert highlights common pitfalls and best practices for physicians. He explains how employers often use national databases like MGMA to undervalue physicians and why local market comparisons are far more accurate benchmarks. He also warns against restrictive clauses—such as intellectual property ownership—and underscores the importance of seeking professional review of employment agreements. Dr. Bert strongly advocates for negotiation, pointing out that physicians only get the deals they negotiate, not the ones they are simply offered.

In the final portion, Dr. Bert shares advice on long-term financial planning and retirement. He stresses the importance of consistent saving—at least 25% of income—early in one's career, aiming for at least $10 million in retirement assets. He also discusses his transition into retirement, finding fulfillment through part-time independent medical evaluations, entrepreneurial ventures like MD Direct (which bypasses insurers to reduce costs), and leadership in orthopedic conferences. He concludes by underscoring the importance of not only saving wisely but also having meaningful pursuits in retirement.

Learn more, including additional show notes, links, and detailed key takeaways, by visiting physicianswealthpodcast.com.

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