Listen in as David chats orthopaedic surgeon Dr. Steve Hamilton and practice CEO Andy Blankemeyer as they discuss what they have learned a few years out of a private equity investment into their practice – Beacon Orthopaedics and OrthoAlliance.

After Steve and Andy initially explain their roles at the practice and the growth they have enjoyed in recent years, David discusses this business journey with them, beginning with how they came to consider a private equity partner following initial skepticism.

Steve and Andy then explain the challenges that high growth has presented, as a physician working in the practice and CEO running the practice.  They chat with David about the importance of culture fit, flexibility, physician autonomy, the challenges COVID presented and more.

Finally, Steve and Andy impart some lessons learned and give advice to other physicians and practices considering private equity transactions.

You can find show notes and more information by visiting www.physicianswealthpodcast.com. 

Listen in as David chats with author and consultant Frank Maselli. They begin by discussing Frank’s career path, from the military to Wall Street to being a speaker, author and trainer.  

They then examine what Frank thinks about assessment tests and how he approaches them. Frank then explains the “3-part mind” and how it impacts interactions with your team. Next, Frank explains the Kolbe A test and how he uses this to evaluate teams. David and Frank then chat about how this evaluation worked at OJM Group. 

Finally, Frank gives some advice about how to hire the right person for the job and the kind of work he does with organizations to get the most out of the people they already have.

You can find show notes and more information by visiting www.physicianswealthpodcast.com. 

In this episode, orthopaedic surgeon Dr. Benjamin Domb joins David to discuss his career path, running a large subspecialty practice and the award he and the practice recently won.

Listen in as Ben explains how he always wanted to be a sports medicine orthopaedic surgeon, even though he comes from a family of professional musicians. Ben and David then discuss the financial challenges of physicians during training, Ben’s decision-making process in choosing his first job, and the importance of a “privademic” environment to him.

Next David and Ben discuss Ben’s decision to move his Foundation from the original practice and form a new hip-only clinical practice alongside it. They discuss Ben’s role in his practice, his hiring of a CEO, and the importance of being “mission-focused.”

David then asks Ben about the circumstances around his winning the Ernst & Young Entrepreneur of The Year 2021 Midwest Award. Finally, David and Ben discuss the One Thing he would tell younger physicians.

You can find show notes and more information by visiting www.physicianswealthpodcast.com. 

Listen in as David chats with nationally recognized healthcare mergers and acquisitions (M&A) attorney Gary Herschman.  Gary begins by describing his firm and practice and then gives some statistics in terms of the number of M&A deals in the medical practice space.

David and Gary then dive into the reasons why a medical practice might consider merging with another practice, becoming an acquirer or being acquired.  They then discuss how investors value medical practices, when to involve an attorney, and key success factors. Finally, Gary explains why an accurate understanding of the deals that are out there benefits physicians, even if they decide not to move forward.

You can find show notes and more information by visiting www.physicianswealthpodcast.com. 

Listen in as host David Mandell chats with entrepreneur and experienced private investor David Victor.  They begin by discussing Victor’s career path, leaving the practice of law to join his father in the startup that became American Education Institute (AEI), where Mandell lectures every year.

They then explore AEI in more depth – what services it offers, why physicians might be interested in it, how COVID forced Victor to transform the business, and why the business may be stronger now than ever before.

Next, Victor explains his approach to investing in private businesses, including a dive into a cannabis-focused real estate project he is excited about today. He concludes with some advice to others looking to invest significantly into private businesses.

You can find show notes and more information by visiting www.physicianswealthpodcast.com. 

Listen in as David chats with student loan expert Ryan Frailich. David and Ryan begin with Ryan’s career path -- from a teacher to human resources professional to Certified Financial PlannerTM with an expertise and certification in student loans (CSLP).

David and Ryan then dive into student loans – discussing Income Driven Repayment plans, the pros and cons of private refinancing, the Public Service Loan Forgiveness program, and various factors that can impact an individual physician’s student loan management strategy.

Finally, Ryan gives his thoughts on how young physicians in practice should think about balancing the desire to pay off student loans with other financial goals.

You can find show notes and more information by visiting www.physicianswealthpodcast.com. 

Listen as David chats with retirement plan expert Scott McHenry. David and Scott talk about Scott’s career path – from a position inside a large firm to the transition to his own firm about 15 years ago.

David and Scott then dive into Cash Balance Plans (CBPs). They discuss how these plans can be more favorable than other qualified plans, such as pensions, profit-sharing plans and 401(k)s, define the type of practice or physician that is a good candidate for a CBP.

They wrap up with key success factors in implementing CBPs, how CBPs can work with 401(k)s, what happens if a CBP is terminated and how Scott and his firm work with physicians and practices throughout the U.S.

You can find show notes and more information by visiting www.physicianswealthpodcast.com. 

In this episode, orthopaedic surgeon Dr. Kevin Plancher joins David to discuss his academic and private practice career, experiences with finance and speaking alongside David at an upcoming orthopaedic meeting.

Listen in as Kevin explains how he ended up in orthopaedics when coming from a family in finance and building a department with other “young guns” in his first job out of training.  Kevin then talks about his decision to leave the hospital setting for his own practice after some years.

Next David and Kevin discuss his interest in academics and how Kevin balances his practice responsibilities with two teaching positions at two medical schools. They then chat about a finance course where both David and Kevin will be speaking, as part of the Ortho Summit in Las Vegas in December. Kevin explains why it is important to him to speak with fellow doctors about business and finance. 

Finally, David and Kevin discuss the One Thing he would tell younger physicians and the One Thing he would counsel fellow experienced doctors.

You can find show notes and more information by visiting www.physicianswealthpodcast.com. 

In this episode, orthopaedic surgeon Dr. Matthew Provencher joins David to discuss varied experiences he has had in his career.

Listen in as Matthew explains how he ended up in orthopaedics when his dream of being a Navy pilot didn’t work out. He then explains his experience as a Naval surgeon, taking care of the SEALs, and working on humanitarian missions and what he learned from those positions.

Matthew then chats with David about decision to leave the Navy to become Chief of Sports Medicine at Mass General Hospital, associated with Harvard. He discusses his experiences and special challenges in academic medicine as well as what he learned as team physician for the NFL Champion, New England Patriots.

Matthew also dives into the his move from Boston to Vail to join the Steadman Clinic—a world-renown orthopaedic practice.  They chat about the difference in being a part of a private practice and his experience in having that practice recently sold to a private equity firm.

Finally, David and Matthew discuss his involvement in entrepreneurial activities, his ongoing roles as part of these ventures and the One Thing he would tell younger physicians.

Listen in as David chats with CPA and financial consultant Jessica Nunn. David and Jessica discuss Jessica’s initial interest in finance and accounting, including her education and initial jobs with larger firms working with public companies.

David and Jessica then dive into Jessica’s decision to go out on her own to help smaller clients like medical and dental practices and their owners. Then Jessica discusses how she helps practice owner clients today, giving some real examples of challenges that arise and how to improve processes and profitability.

You can find show notes and more information by visiting www.physicianswealthpodcast.com.