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

In this episode, David welcomes back two guests from earlier seasons – orthopaedic surgeons Dr. Sanjeev Bhatia and Dr. Matthew Provencher.  Sanjeev and Matt join David to discuss a new venture they’ve founded, along with David, called The Doctors Agents (TDA). 
Sanjeev and Matt begin with how they identified a need in the marketplace for physicians to know more and achieve better results when evaluating and negotiating jobs.  They discuss their personal stories and those they have seen from colleagues and fellows they train and delve into the reasons many physicians tend to evaluate jobs on their own, without the benefit of data, tools or professionals. 
Sanjeev introduces TDA and describes how it helps physicians seeking their first job out of training or changing jobs. David explains a bit about two on-demand tools that TDA provides 24/7/365 – a financial model for evaluating one or more jobs financially and an AI-based contract review.
Matt comments on the importance of TDA’s work to vet experts in medical contract law and financial planning as part of their offering for physicians.
David and Sanjeev then discuss how the financial model and AI contract review tools could be valuable even for physicians who are not changing jobs – from helping them map out their financial plan and dealing with changes at the practice or hospital to taking advantage of entrepreneurial opportunities as they arise. 
David wraps up with a review of the basic pricing for TDA’s various offerings in their Beta phase.
Learn more and listent to this and past episodes by visiting www.physicianswealthpodcast.com.

Host David Mandell chats with Dr. Jordan Romano in Episode 4.4 of the podcast. Jordan talks about his career, how he became involved in working as a medical expert witness, grew the work into a business, and now advises other physicians who are interested in this potential “side hustle.”
Jordan begins with the story of how he ended up in medicine and at Harvard and Mass General, as well as the non-traditional steps he took along the way. He relates why business was in his blood, given his family background in banking and finance.
Jordan covers how and why he first jumped into the field of medical expert witnessing, what he liked about it initially and what it took to turn it into a real business. He also shares what he sees as the most significant challenges to growing the business.
Jordan then discusses his current work in advising and coaching physicians looking to get into this space, what doctors typically can earn in the field, and common mistakes he sees physicians make when starting out.
Jordan wraps up the episode with his big picture advice for physicians considering this type of work.
Learn more and listent to this and past episodes by visiting www.physicianswealthpodcast.com.

Listen in as David chats with healthcare real estate expert Colin Carr.  Colin begins with his background in real estate in a variety of settings. He then tells the story of how, after seeing physicians do so poorly in deals, he decided to launch a firm dedicated to helping doctors.
Next, Colin explains the top mistakes he sees physicians and practices make when it comes to their real estate -- including do-it-oneself, not performing adequate due diligence and more – and what that will cost them in the long run.
Colin delves into the choice between leasing and purchasing for a medical practice and relates the importance of having a multi-factor decision process as the key to fostering long-term peace of mind.
He then discusses the significance of timing, in terms of when to make the ‘rent vs. own’ decision, when to contact a landlord on a possible lease renewal, and even when to reach out to potential real estate agents.
Colin wraps up by sharing how physicians can find an ethical, competent real estate agent they can trust.
Learn more and listent to this and past episodes by visiting www.physicianswealthpodcast.com.

Dr. Jeffrey Segal, a neurosurgeon, attorney and founder of Medical Justice, returns to the podcast for Episode 4.2, where he and David discuss current legal landmines facing physicians.
Jeff begins with the topic of licensing and how doctors typically become involved with investigations into their licenses by state departments and the various outcomes that can occur. He covers private letters of concern, public admonitions, license restrictions, suspensions and revocations.
Jeff explains how the economics of a licensure defense case are often worse for the physician than a typical medical malpractice case, and thus implores physicians to make sure they have adequate insurance coverage for this type of risk.
He next describes a “sham peer review” and why doctors need to be wary of it and delves into the importance of the National Practitioner Data Bank. Jeff then covers disputes with hospitals and other employers and common mistakes physicians make as they exit.
The episode concludes with Jeff giving some words of advice about physicians working with attorneys.
Learn more and listent to this and past episodes by visiting www.physicianswealthpodcast.com.

To kick off Season 4 of the podcast, David welcomes a very special guest – his father, radiologist Dr. Charles Mandell.  David begins by asking Charlie, as he does with all physician guests, where he is from and what led him to become a physician in general and a radiologist in particular.
Charlie shares a bit about his first job out of training and his move to become chairman of a group radiology practice after a few years, including what he learned about the business of medicine.
David and Charlie discuss Charlie’s various entrepreneurial business ventures during this phase of his career, including real estate development and alternative energy.
Charlie then talks about the second phase of his career – a locums practice that has allowed him to travel around the U.S. and maintain an ideal work-life balance for him and his wife. He relates some advice to other physicians who may consider this option. Charlie also discusses the telemedicine-medical software firm he co-founded, which continues to operate and grow today.
The episode concludes with Charlie sharing some insights from 50 years in practice, why he still works and enjoys it, and what younger physicians should ponder when they consider their future retirement. 
Learn more and listent to this and past episodes by visiting www.physicianswealthpodcast.com.

Join host David Mandell as he revisits and highlights 7 episodes from Seasons 1 and 2 of The Wealth Planning for the Modern Physician podcast. “I think that all of the episodes are great and provide value for our listeners,” says David, “but I selected a few that offer intriguing ideas and a unique perspective for physicians in 2023.” 
Insights a Few Years Beyond a Private Equity Transaction with Dr. Steve Hamilton and CEO Andy Blankemeyer
Originally released March 3, 2022
For the seventh and final installment of the 2023 Summer Rewind Series, David looks back to Episode 2.15, where he chats with orthopaedic surgeon Dr. Steve Hamilton and practice CEO Andy Blankemeyer.
Steve and Andy share lessons learned from a private equity investment into their practice from the unique viewpoint of more than two years after the transaction. They cover the evaluation process used to select the right PE firm, ways they overcame objections from some of the practice physicians, and steps they are taking to handle rapid growth and other post-transaction challenges.
David selected this episode because of the current industry trend toward M&A deals and private equity investment in medical practices. Physicians of all specialties, along with their practice executives, can gain valuable insights from the advice and perspectives shared by Dr. Hamilton and Andy Blankemeyer.
Learn more and listent to this and past episodes by visiting www.physicianswealthpodcast.com.