Wealth Planning for the Modern Physician David B. Mandell, JD, MBA

Listen in to this continuing episode as host David Mandell sits down with Ethan Nkana, JD, MBA, founder of Rocky Mountain Physician Agency and his client, Dr. Erica Mathieu, Chief Medical Officer at Primary Health Solutions.  Here, in part two of this two-episode interview, David begins the discussion with Erica, looking at her situation as a case study – first discovering what her frustrations were with her then-present job, how she found Ethan to help her, and their process of renegotiating her employment contract over the ensuing months. They focus on key success factors, such as leverage through other job offers and the timing of negotiations.
Learn more, including additional show notes, links, and more, by visiting physicianswealthpodcast.com.

Listen in as host David Mandell sits down with Ethan Nkana, JD, MBA, founder of Rocky Mountain Physician Agency and his client, Dr. Erica Mathieu, Chief Medical Officer at Primary Health Solutions. In part one of this two-episode interview, David begins the discussion with Ethan, covering his background in law and as a hospital administrator, where he used to negotiate physician employment contracts from the employer side. He explains his agency’s approach to contract negotiations in representing doctors and the common misconceptions physicians believe which hold them back in getting better deals.   
Erica adds to the conversation the physician perspective, commenting that many doctors have a mindset that believes the employer’s statement that contract terms are non-negotiable, when, in fact, this is not true.  
As this initial part of the conversation concludes, Ethan also emphasizes the crucial success factor of having other quality offer(s) on the table when negotiating your next contract.
Learn more, including additional show notes, links, and more, by visiting physicianswealthpodcast.com.

Listen in as host David Mandell chats with two CPAs from the firm Aprio who specialize in serving medical and dental practices. They share insights on managing finances, increasing profitability, and understanding key numbers in a healthcare practice.
The discussion covers the importance of understanding financials, key performance indicators, and strategies to increase profitability in a healthcare practice. David, Chelsea and Mary Kathryn also cover the impact of staffing costs, the potential benefits of fee-for-service models, and the importance of regular financial reviews.
Key Takeaways:
Understanding, analyzing, and managing financial numbers are key to optimizing a medical practice's profitability.

Regularly evaluating and adjusting fees is crucial for practices that have control over what they charge.

Proactive, forward-looking advice is more beneficial than mere tax preparation. Learn more, including additional show notes, links, and more, by visiting physicianswealthpodcast.com.

Listen in or watch as podcast host David Mandell sits down with optometrist Dr. Mike Neal.  David centers this discussion on the challenges of hiring within medical practices and how Dr. Neal's experiences with hiring difficulties in his own practice led him to create Build My Team, a service designed to assist medical practices in overcoming staffing challenges.
David and Mike initially cover common mistakes in the hiring process, such as relying too heavily on resumes and interviews, which, in Mike’s experience, often do not accurately reflect a candidate's capabilities or fit for a position.
David then asks Mike to explain the importance of using assessments to identify a candidate's natural talents and strengths, a strategy inspired by Mike’s research on the hiring practices at companies like Disney and the Four Seasons. Mike argues that traditional hiring methods are inefficient and can lead to costly turnover, advocating for a more strategic approach that prioritizes quick decision-making and the identification of candidates who are inherently suited for specific roles.
David also asks Mike to touch base on the impact of AI on modern job application processes on hiring, including the challenges employers face in navigating a landscape where candidates can apply to thousands of jobs with a single click.
The episode concludes with Mike offering advice to practice owners on improving their hiring processes and adapting to the changing dynamics of the job market.
Learn more, including additional show notes, links, and more, by visiting physicianswealthpodcast.com.

Listen in as host David Mandell interviews Shannon Seeberan, the co-founder of CloudMedSpas, a platform that enables physicians and medical practitioners to maximize practice revenue by monetizing their unused medical space.
The discussion starts with Shannon's career, as she explains how she transitioned from publishing and advertising to aesthetic medical practice growth, leveraging her deep understanding of the business side of medicine—a passion influenced by her family background in healthcare.
Shannon highlights the challenges many physicians face in managing the business aspects of their practices, such as staff management, efficiency, and planning for future growth. Shannon's tells David how her work prior to CloudMedSpas primarily involved consulting with physician-owned practices to improve their business operations, emphasizing the integration of aesthetic services to enhance revenue.
Shannon then shares her passion for supporting female entrepreneurship through pro bono consulting, highlighting the synergies between this work and her role at CloudMedSpas.
Shannon then explains to David and the audience the business pivot from Vansanity to CloudMedSpas and its broader application, allowing physicians of all types to monetize underutilized space by renting it out to aesthetic practitioners.  Shannon provides specific examples of how different types of healthcare providers, including dentists and gastroenterologists, have successfully integrated this model into their practices.
In conclusion, Shannon encourages interested listeners to reach out for more information on how CloudMedSpas could potentially benefit their practices.
Learn more, including additional show notes, links, and more, by visiting physicianswealthpodcast.com.

Insights from A Surgeon, Team Physician & Entrepreneur with Dr. Brian Cole
Listen in as host David Mandell speaks with orthopedic surgeon Dr. Brian Cole. David and Brian begin the discussion with an overview of Brian’s career journey, his decision to earn an M.B.A. and his thoughts on the importance of business acumen in the medical field.
David asks Brian about the unique structure of his practice and academic work and then his experience working as team physician for a number of Chicago’s professional sports teams – both the pros and the cons.
Brian and David then chat about Brian’s involvement in healthcare-related businesses and why he focuses on business activity that relates to what he is doing medically.  They also discuss Brian’s leadership roles in professional societies, including what his advice is for the young physicians he trains or speaks to on career, financial, and business matters.
Finally, Brian tells David and the audience about his own podcast, Sports Medicine Weekly.
Learn more, incluing key takeaways and insights, as well as being able to listen to this and past episodes by visiting www.physicianswealthpodcast.com.