Wealth Planning for the Modern Physician

David B. Mandell, JD, MBA
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Join attorney, wealth manager, and well-known author David Mandell, JD, MBA in this podcast dedicated to improving a physician's personal financial bottom line. David talks with doctors from every specialty and stage of career about their real-world lessons in financial matters, and interviews industry experts in all areas of wealth management. Tune in every other week for new episodes!

  1. From OB/GYN to Advocate, Part II: Entrepreneurship and Disability Insurance Insights, with Stephanie Pearson, MD

    8H AGO

    From OB/GYN to Advocate, Part II: Entrepreneurship and Disability Insurance Insights, with Stephanie Pearson, MD

    In Part Two of this two-part conversation, Stephanie Pearson shares how personal hardship ultimately led her to build a mission-driven business dedicated to protecting physicians. What began as a deeply personal recovery journey evolved into an education-first approach to disability and life insurance. Rather than setting out with a business plan, Stephanie initially focused on helping other physicians avoid the mistakes and gaps that impacted her own experience. Through organic growth, word-of-mouth referrals, and a partnership that developed naturally, she built a firm centered on advocacy, transparency, and informed decision-making. Stephanie discusses the challenges of transitioning from surgeon to entrepreneur, including the discomfort many physicians feel around sales. She reframes the role not as selling a product, but as educating clients about complex insurance contracts and advocating for their best interests. The conversation explores the critical differences between group and private disability policies, the nuances of policy language, and why specialty-specific definitions of disability are essential for physicians. Her philosophy emphasizes managing expectations, pre-underwriting, and eliminating surprises—treating insurance planning with the same rigor as informed consent in medicine. Beyond insurance mechanics, Stephanie reflects on broader themes relevant to physicians: burnout, identity shifts, entrepreneurship, and the importance of mentorship and community. She encourages physicians considering business ventures to seek mentors, surround themselves with experts, and remain authentic to their mission. For those facing burnout, she stresses the importance of therapy, boundaries, hobbies, and building a support system. Ultimately, her story illustrates how adversity can be transformed into purpose—creating both financial protection for others and personal fulfillment. 3 Key Takeaways Education Over Sales: Disability and life insurance planning for physicians should center on education, transparency, and advocacy—not product pushing. Definitions Matter: The specific language in disability policies (especially specialty-specific definitions) can significantly impact outcomes in the event of a claim. Burnout Requires Intention: Transitioning careers or starting a business is not automatically a cure for burnout; personal work, boundaries, and mentorship are critical.     Learn more, including additional show notes, links, and detailed key takeaways, by visiting physicianswealthpodcast.com. Click here to get your FREE copy of our latest book, Wealth Strategies for Today's Physician!

    32 min
  2. From OB/GYN to Advocate, Part I: An Injury that Changed Everything, with Stephanie Pearson, MD

    APR 1

    From OB/GYN to Advocate, Part I: An Injury that Changed Everything, with Stephanie Pearson, MD

    In Part One of this two-part conversation, Dr. Stephanie Pearson shares her powerful journey from practicing OB/GYN to becoming a nationally-recognized advocate for physician disability insurance and financial protection. Nearly ten years into practice, a traumatic shoulder injury sustained during an emergency delivery permanently ended her ability to operate and perform obstetrics.. What initially felt like a temporary setback quickly became a life-altering pivot point—complicated further by contract language, disability policy limitations, and systemic barriers that left her financially and emotionally vulnerable. Stephanie details the harsh realities she encountered after her injury, including being terminated when her FMLA expired, denied disability coverage due to policy fine print, and fighting a lengthy workers' compensation battle. She candidly discusses the mental toll of the experience, including a period of severe emotional distress, and emphasizes how little physicians are taught about contracts, disability insurance, and financial risk management. Her story underscores the importance of reviewing employment agreements and understanding both employer-sponsored and private disability coverage. Out of this adversity, Stephanie co-founded PearsonRavitz, an insurance brokerage dedicated to helping physicians secure appropriate disability and life insurance protection. Now part of the broader Earned Wealth platform alongside OJM Group, she is committed to improving financial literacy among physicians. This episode sets the stage for Part Two by highlighting not only the risks physicians face but also the importance of proactive planning, proper policy design, and advocating for oneself long before a crisis occurs. Learn more, including additional show notes, links, and detailed key takeaways, by visiting physicianswealthpodcast.com. Click here to get your FREE copy of our latest book, Wealth Strategies for Today's Physician!

    29 min
  3. Healthcare M&A in 2026: What Physicians Need to Know with Matthew Phillips

    MAR 18

    Healthcare M&A in 2026: What Physicians Need to Know with Matthew Phillips

    In Episode 6.14, host David Mandell interviews Matthew Phillips, Managing Director at City Capital Advisors, to discuss the evolving landscape of healthcare mergers and acquisitions. With more than 25 years of legal and corporate finance advisory experience, Phillips shares insights into how physician-owned practices can navigate growth, capital raises, acquisitions, and potential sales in today's selective and risk-averse market environment. Phillips explains that while capital remains abundant in healthcare, buyers are far more disciplined than in past years. Investors are prioritizing operational rigor, compliance, predictable cash flow, and cultural alignment over aggressive growth projections. He emphasizes the importance of competitive deal processes, proper due diligence, and maintaining leverage on the physician side when exploring private equity partnerships. The conversation also introduces ExitMinded, Phillips' advisory platform designed to help practices prepare for a future transaction well before going to market. By conducting a buyer-lens, risk-based assessment, ExitMinded helps identify operational, structural, financial, and compliance gaps that could erode value. Whether physicians plan to sell or remain independent, this proactive preparation strengthens practice performance and preserves long-term optionality. Learn more, including additional show notes, links, and detailed key takeaways, by visiting physicianswealthpodcast.com. Click here to get your FREE copy of our latest book, Wealth Strategies for Today's Physician!

    38 min
  4. Medicine Meets Machine Learning: Real-World AI in Practice with Dr. Joshua Lowentritt

    MAR 4

    Medicine Meets Machine Learning: Real-World AI in Practice with Dr. Joshua Lowentritt

    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. Learn more, including additional show notes, links, and detailed key takeaways, by visiting physicianswealthpodcast.com. Click here to get your FREE copy of our latest book, Wealth Strategies for Today's Physician!

    46 min
  5. The Business of Independence: Private Practice Done Right with Teri Yates

    FEB 18

    The Business of Independence: Private Practice Done Right with Teri Yates

    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. Learn more, including additional show notes, links, and detailed key takeaways, by visiting physicianswealthpodcast.com. Click here to get your FREE copy of our latest book, Wealth Strategies for Today's Physician!

    41 min
  6. From Academia to Innovation: Redefining Pain Medicine with Dr. Peter Staats (Part 2)

    FEB 4

    From Academia to Innovation: Redefining Pain Medicine with Dr. Peter Staats (Part 2)

    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. Learn more, including additional show notes, links, and detailed key takeaways, by visiting physicianswealthpodcast.com. Click here to get your FREE copy of our latest book, Wealth Strategies for Today's Physician!

    30 min
  7. From Academia to Innovation: Redefining Pain Medicine with Dr. Peter Staats (Part 1)

    JAN 21

    From Academia to Innovation: Redefining Pain Medicine with Dr. Peter Staats (Part 1)

    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. Learn more, including additional show notes, links, and detailed key takeaways, by visiting physicianswealthpodcast.com. Click here to get your FREE copy of our latest book, Wealth Strategies for Today's Physician!

    27 min
  8. Peer Review, Workplace Violence, and Protecting Your Career with Dr. David Koronkiewicz

    JAN 7

    Peer Review, Workplace Violence, and Protecting Your Career with Dr. David Koronkiewicz

    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. Learn more, including additional show notes, links, and detailed key takeaways, by visiting physicianswealthpodcast.com. Click here to get your FREE copy of our latest book, Wealth Strategies for Today's Physician!

    40 min
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5
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About

Join attorney, wealth manager, and well-known author David Mandell, JD, MBA in this podcast dedicated to improving a physician's personal financial bottom line. David talks with doctors from every specialty and stage of career about their real-world lessons in financial matters, and interviews industry experts in all areas of wealth management. Tune in every other week for new episodes!

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