Group Practice with Neal Goldstein

Neal Goldstein
  • 5.0 (3)
  • Medicine
  • Updated Weekly

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 strategies for physician groups, while also occasionally featuring physician leaders and other healthcare and business leaders who have built and maintained successful organizations. If you’re a private practice physician group leader, this is the show for you.

  1. 5d ago

    Case Keenum and the Value of Experience

    Artificial intelligence is accumulating human experience at a rapid pace, but there is one critical skill it can never replicate: human judgment. Host Neil Goldstein breaks down the Chicago Bears’ victory over the Philadelphia Eagles to uncover a powerful lesson about the 10,000-hour rule. By comparing a 14-year NFL journeyman’s preparedness to a physician’s daily practice, this breakdown reveals why doctors are uniquely equipped to master the business of medicine. What you will learn: ● Why the 10,000-hour rule is truly about accumulating diverse experience rather than just narrow expertise. ● How 14 years in the NFL prepared a backup quarterback to lead a high-stakes Monday night victory. ● The truth behind the myth that medical professionals lack inherent business skills. ● Why artificial intelligence serves as an accelerator for data but completely fails at nuanced decision-making. ● How physicians can leverage their clinical judgment to succeed in private practice and broader business ventures. Timestamps: 00:00 – The Chicago Bears Monday Night Football upset 01:46 – Case Keenum and the reality of a 14-year NFL journeyman 03:00 – Rethinking Malcolm Gladwell and the 10,000-hour rule 04:55 – Why preparedness and experience beat raw expertise 06:06 – Debunking the myth that physicians are bad at business 06:58 – How artificial intelligence impacts the medical profession 08:06 – The one critical advantage human doctors have over AI 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. #MedicalBusiness #HealthcareAI #PhysicianEntrepreneur #PrivatePractice #MedicalPractice #BusinessOfMedicine #PracticeManagement #GroupPractice #10000HourRule #CaseKeenum #ChicagoBears #MedicalAI

  2. Sep 29

    Physician Burnout

    Medicine is facing a crisis of declining pay, AI threats, and corporate takeovers. But the death of the private medical practice is a myth. Neal Goldstein brings 37 years of legal experience representing physician groups to tackle the harsh realities driving doctor burnout today. He unpacks the exact pressures forcing younger physicians out of the field and reveals why independent medicine is still highly viable. This is a critical wake-up call for any medical professional questioning their future in healthcare. What you will learn: ● The hidden impact of post-COVID social shifts on daily patient care and physician isolation. ● Why declining reimbursements for major surgeries are pushing specialists to the breaking point. ● How the rise of private equity and hospital consolidation strips power away from independent doctors. ● The truth about AI in medicine and whether fields like radiology are actually at risk. ● Strategies to shift your perspective and tap into the original calling that brought you to medicine. Timestamps: 00:00 — The reality of professional burnout 04:25 — How AI and remote work changed professional behavior 08:00 — Why younger physicians are facing unprecedented burnout 08:55 — The devastating impact of declining medical reimbursements 10:20 — Electronic medical records and the charting burden 12:45 — Private equity in healthcare and alternative career paths 17:25 — How to take control of your private medical practice 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

  3. Sep 22

    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

  4. Sep 15

    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

  5. Sep 8

    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.

  6. Sep 1

    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

  7. Aug 25

    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.

  8. Aug 18

    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

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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 strategies for physician groups, while also occasionally featuring physician leaders and other healthcare and business leaders who have built and maintained successful organizations. If you’re a private practice physician group leader, this is the show for you.

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