Succeed in Medicine

In many situations, when private equity comes calling, the owners of the practice are close to retirement and they are offered more money than they’d ever get from another physician buying into the practice. My practice has been approached by private equity twice. I’m in my early 40s, so the decision to sell is a lot more complicated. We didn’t ultimately sell, but while negotiations were taking place, I was concerned, but wasn’t sure if my concerns were valid or if I was even considering the issues I should be concerned about.   Private equity was recently a topic of discussion on ENT Connect, the American Academy of Otolaryngology’s chatroom, so I invited two of physicians who had given eloquent, concise arguments for and against selling onto the show to discuss their reasoning. It made for a very informative conversation.    William R. Blythe, MD, is a General Otolaryngologist practicing at East Alabama Ear, Nose, and Throat in Auburn/Opelika, Alabama.  He’s been in the same practice with the same partners since finishing residency in 1997.  He was the past Chief of Staff of East Alabama Health, where he served in almost every medical staff leadership position over the past 24 years. He served as President of the Alabama Society of Otolaryngology for ten years, and continued in his role as Annual Meeting Coordinator.  He continues to serve on multiple committees for AAO-HNS, including CPT, AMPC, Reg-ENT Executive Committee and is currently the Senior Director for Private Practice, Board of Directors, and BOD Executive Committee.   Drew Locandro, MD, is a practicing general otolaryngologist with Northwest ENT and Allergy - Marietta, Georgia. He joined a group practice thereafter residency in Albany NY and has practiced there since. He is president of his 6-physician group with 5 office locations and an ASC. He’s served as chairman of the department of surgery at Wellstar Kennestone Hospital as well as chair of the hospital quality assurance committee for several years. He’s also been a member of the American Academy of Otolaryngology Outcomes Research and Evidence-Based Medicine Committees. Today's Sponsor is Locumstory: To find out more visit: https://www.doctorpodcastnetwork.com/locumstory This medical podcast is your physician mentor to fill the gaps in your medical education. We cover physician soft skills, charting, interpersonal skills, doctor finance, doctor mental health, medical decisions, physician parenting, physician executive skills, navigating your doctor career, and medical professional development. This is critical CME for physicians, but without the credits (yet). A proud founding member of the Doctor Podcast Network!Visit www.physiciansguidetodoctoring.com to connect, dive deeper, and keep the conversation going. Let’s grow! Disclaimer:This podcast is for informational purposes only and is not a substitute for professional medical, financial, or legal advice. Always consult a qualified professional for personalized guidance.

In many situations, when private equity comes calling, the owners of the practice are close to retirement and they are offered more money than they’d ever get from another physician buying into the practice. My practice has been approached by private equity twice. I’m in my early 40s, so the decision to sell is a lot more complicated. We didn’t ultimately sell, but while negotiations were taking place, I was concerned, but wasn’t sure if my concerns were valid or if I was even considering the issues I should be concerned about.   Private equity was recently a topic of discussion on ENT Connect, the American Academy of Otolaryngology’s chatroom, so I invited two of physicians who had given eloquent, concise arguments for and against selling onto the show to discuss their reasoning. It made for a very informative conversation.    William R. Blythe, MD, is a General Otolaryngologist practicing at East Alabama Ear, Nose and Throat in Auburn/Opelika, Alabama.  He’s been in the same practice with the same partners since finishing residency in 1997.  He was the past Chief of Staff of East Alabama Health, where he served in almost every medical staff leadership position over the past 24 years. He served as President of the Alabama Society of Otolaryngology for ten years, and continued in his role as Annual Meeting Coordinator.  He continues to serve on multiple committees for AAO-HNS, including CPT, AMPC, Reg-ENT Executive Committee, and is currently the Senior Director for Private Practice, Board of Directors and BOD Executive Committee.   Drew Locandro, MD, is a practicing general otolaryngologist with Northwest ENT and Allergy - Marietta, Georgia. He joined a group practice there after residency in Albany NY and has practiced there since. He is president of his 6-physician group with 5 office locations and an ASC. He’s served as chairman of the department of surgery at Wellstar Kennestone Hospital as well as chair of the hospital quality assurance committee for several years. He’s also been a member of the American Academy of Otolaryngology Outcomes Research and Evidence Based Medicine Committees.   Today's Sponsor is Locumstory. Find your next Locums assignment here: www.financialresidency.com/locumstory This medical podcast is your physician mentor to fill the gaps in your medical education. We cover physician soft skills, charting, interpersonal skills, doctor finance, doctor mental health, medical decisions, physician parenting, physician executive skills, navigating your doctor career, and medical professional development. This is critical CME for physicians, but without the credits (yet). A proud founding member of the Doctor Podcast Network!Visit www.physiciansguidetodoctoring.com to connect, dive deeper, and keep the conversation going. Let’s grow! Disclaimer:This podcast is for informational purposes only and is not a substitute for professional medical, financial, or legal advice. Always consult a qualified professional for personalized guidance.

Navin Goyal, M.D. is a physician and entrepreneur who serves as CEO of LOUD Capital, an early-stage venture capital and alternative investment firm leveraging capital, entrepreneurship, and education to grow impactful companies across the globe. Bringing his physician training to do good for people, Navin strives to make venture capital more purpose-driven, inclusive, and impactful. Before co-founding LOUD Capital, Navin practiced anesthesiology in a large hospital-based setting and was the Medical Director of a community hospital for several years. The beginning of his entrepreneurial journey was co-founding OFFOR Health (formerly SmileMD), a venture-backed mobile healthcare company that expands access to care across the United States with a dedicated focus on lower-income and rural communities. His story, his experience, and what he sees as an opportunity for physicians to have a broader impact on themselves and society is the focus of his book, Physician Underdog. Navin received his M.D. from the University of Cincinnati College of Medicine and trained in anesthesiology at the University of Chicago Medical Center. We discuss his journey from the OR to the board room, how the grass is actually greener after leaving medicine, why we need to dig our well before we are thirsty and by thirsty, I mean stagnating or burnt out, why venture capital funds aren’t as risky as I thought, and how to pick a fund for investing.   Today's Sponsor is Locumstory. Find your next Locums assignment here: www.financialresidency.com/locumstory This medical podcast is your physician mentor to fill the gaps in your medical education. We cover physician soft skills, charting, interpersonal skills, doctor finance, doctor mental health, medical decisions, physician parenting, physician executive skills, navigating your doctor career, and medical professional development. This is critical CME for physicians, but without the credits (yet). A proud founding member of the Doctor Podcast Network!Visit www.physiciansguidetodoctoring.com to connect, dive deeper, and keep the conversation going. Let’s grow! Disclaimer:This podcast is for informational purposes only and is not a substitute for professional medical, financial, or legal advice. Always consult a qualified professional for personalized guidance.

Amy G. Fogelman, MD is Board Certified in Internal Medicine with 17 years of experience seeing patients at ambulatory practices in the Boston area. She went to med school at BU and stayed in Boston for her internal medicine residency at Beth Israel. She did a chief year in Primary Care at the VA Hospital in West Roxbury. She has been awarded prizes in clinical excellence and leadership at Massachusetts General Hospital (MGH).    While consulting for personal injury and medical malpractice firms in the Boston area, Dr. Fogelman noticed a void in the consulting field, which her consulting firm, MED LAW, seeks to fill. MED LAW Consulting, LLC uses this Primary Care model, where Dr. Fogelman serves as the litigator’s own personal medical expert for the entire case as if the lawyer had an in-house physician on staff and now she teaches. In 2020, she began formally advising medical professionals on the ins-and-outs of medical expert witness work and even has a course.  We discuss common misconceptions among physicians about this type of work, how to get started, how to avoid screwing up your first few cases, the compensation and why one should avoid just doing defense work.  Today's Sponsor is Locumstory. You can find out more by visiting: https://www.financialresidency.com/locumstory  This medical podcast is your physician mentor to fill the gaps in your medical education. We cover physician soft skills, charting, interpersonal skills, doctor finance, doctor mental health, medical decisions, physician parenting, physician executive skills, navigating your doctor career, and medical professional development. This is critical CME for physicians, but without the credits (yet). A proud founding member of the Doctor Podcast Network!Visit www.physiciansguidetodoctoring.com to connect, dive deeper, and keep the conversation going. Let’s grow! Disclaimer:This podcast is for informational purposes only and is not a substitute for professional medical, financial, or legal advice. Always consult a qualified professional for personalized guidance.

Luana Colloca, MD, Ph.D., MS, is a physician-scientist, professor at the University of Maryland, Baltimore, Director of the TL1 program, Chair of the Pain and Placebo Special Interest Group for the International Association for Study of Pain Society (IASP), and steering member and treasurer for the Society for Interdisciplinary Studies of Placebo (SIPS). Prof. Colloca holds an MD, a Ph.D. in Neuroscience, and a masters in Bioethics.   She completed a post-doc training at the Karolinska Institute in Stockholm, Sweden, and a senior research fellowship at the National Institutes of Health in Bethesda, USA.  Prof. Colloca received several prestigious awards such as the IASP Wall Patrick Award for basic research on pain mechanisms. Prof Colloca leads an NIH-funded research portfolio on endogenous pain modulation including placebo/nocebo effects and other nonpharmacological interventions such as virtual reality at the School of Nursing, University of Maryland, Baltimore.    We talk about the placebo effect and its evil twin, the nocebo effect, and the dicey ethical territory that comes with recommending an intervention that you know only works if the placebo effect occurs. We also discuss the ethical dilemma of the nocebo effect, in which we prime patients to feel more pain by warning them about impending pain. Today's Sponsor is Locumstory. For more information visit: www.financialresidency.com/locumstory This medical podcast is your physician mentor to fill the gaps in your medical education. We cover physician soft skills, charting, interpersonal skills, doctor finance, doctor mental health, medical decisions, physician parenting, physician executive skills, navigating your doctor career, and medical professional development. This is critical CME for physicians, but without the credits (yet). A proud founding member of the Doctor Podcast Network!Visit www.physiciansguidetodoctoring.com to connect, dive deeper, and keep the conversation going. Let’s grow! Disclaimer:This podcast is for informational purposes only and is not a substitute for professional medical, financial, or legal advice. Always consult a qualified professional for personalized guidance.

Carmen Brown, MD, is an author, blogger, practicing OB-GYN, and managing partner and founder of ExpatMD. She currently resides in Melbourne, Australia with her husband and young son. We talk about how she ended up practicing down-under, how to make it happen, what some of the differences about practicing down there and focused a bit on practice of OB-GYN. She dispelled some myths about limitations to practicing abroad and we discussed a little about what it’s like being a black woman in down under. Dr. Brown has been overseas for over eight years and has become passionate about helping other physicians realize their options to live and work overseas. After assisting several doctors find jobs in either New Zealand or Australia, Dr. Brown decided to start ExpatMD, a full-service consulting firm dedicated to helping American doctors achieve their dream of becoming an expat.  She also published ‘ExpatMD: Your Guide to Living and Working in Australia and New Zealand as a Physician.’ She also writes a blog about life as a doctor mom with a child with Autism at www.autismdrmom.blogspot.com  You can follow her on LinkedIn or Instagram @ExpatMD  or on Twitter @DoctorCarmenB  or @AutismDrMom    Today's Sponsor is LocumStory. To find out more visit: www.financialresidency.com/locumstory This medical podcast is your physician mentor to fill the gaps in your medical education. We cover physician soft skills, charting, interpersonal skills, doctor finance, doctor mental health, medical decisions, physician parenting, physician executive skills, navigating your doctor career, and medical professional development. This is critical CME for physicians, but without the credits (yet). A proud founding member of the Doctor Podcast Network!Visit www.physiciansguidetodoctoring.com to connect, dive deeper, and keep the conversation going. Let’s grow! Disclaimer:This podcast is for informational purposes only and is not a substitute for professional medical, financial, or legal advice. Always consult a qualified professional for personalized guidance.

Kate Mangona, MD, began practicing as a board-certified pediatric radiologist in 2015 after completing a 6-year medical school program at The University of Missouri-Kansas City, Radiology Residency at Beaumont Health System in Royal Oak, MI, and Pediatric Radiology Fellowship at Texas Children’s Hospital in Houston, Texas.    Dr. Mangona is a supportive physician’s wife and mother to three little girls and a mini poodle. She and her husband Victor, a pediatric radiation oncologist and tax code enthusiast, are active and passive real estate investors in over 3 thousand multifamily units and single-family rentals including a luxury Airbnb and lead a Multifamily Masterclass course where they teach others how to passively invest in real estate to grow their wealth as they sleep.  As a certified life coach, Kate hosts the Medicine, Marriage & Money podcast and leads the Medicine, Marriage, & Money Coaching Program where she helps married women physicians with children spend less time arguing with their spouse, and more time reigniting the sparks once felt during their honeymoon.    We discuss the non-financial challenges that are specific to being in a dual physician couple and then we talk about money, like double student loans, talking to your spouse about money, their path to real estate investing, and handling 3 kids under 4.  Looking for your next locum tenens assignment? Go to www.financialresidency.com/locumstory to learn more!  This medical podcast is your physician mentor to fill the gaps in your medical education. We cover physician soft skills, charting, interpersonal skills, doctor finance, doctor mental health, medical decisions, physician parenting, physician executive skills, navigating your doctor career, and medical professional development. This is critical CME for physicians, but without the credits (yet). A proud founding member of the Doctor Podcast Network!Visit www.physiciansguidetodoctoring.com to connect, dive deeper, and keep the conversation going. Let’s grow! Disclaimer:This podcast is for informational purposes only and is not a substitute for professional medical, financial, or legal advice. Always consult a qualified professional for personalized guidance.

After experiencing paralyzing burnout as a newly-minted primary care physician, Dr. Diane Shannon made the hard decision to leave practice and pursue a career in writing. Her focus for 20 years has been drawing attention to ways to address clinician burnout, system inefficiency, and patient safety problems. She is co-author of Preventing Physician Burnout: Curing the Chaos and Returning Joy to the Practice of Medicine, which was published in 2016.  Her personal experience with burnout and her desire to support clinicians motivated her to become a certified coach three years ago. She now helps clinicians gain clarity on their goals, increase their bandwidth, overcome barriers, and improve their professional and personal lives. Dr. Shannon attended Williams College, Jefferson Medical College, and Harvard University. She completed training in Internal Medicine at St. Elizabeth’s Medical Center in Boston and practiced general internal medicine before making the shift to writing and coaching.  This interview was suggested by Dr. Tam Tiet, a family physician at Sutter Health so thank you for the suggestion, Dr. Tiet. We’ve spoken in the past about burnout from the physician perspective, but what can health systems do in order to address burnout? That was the topic for today’s discussion. We discuss the importance of physician retention and how we can accomplish that, addressing gender and racial disparities in compensation, retention and promotion, and what all of this has to do with pebbles in shoes.   Today's sponsor is LocumStory. For more locum tenens information, www.financialresidency.com/locumstory is your final destination.  This medical podcast is your physician mentor to fill the gaps in your medical education. We cover physician soft skills, charting, interpersonal skills, doctor finance, doctor mental health, medical decisions, physician parenting, physician executive skills, navigating your doctor career, and medical professional development. This is critical CME for physicians, but without the credits (yet). A proud founding member of the Doctor Podcast Network!Visit www.physiciansguidetodoctoring.com to connect, dive deeper, and keep the conversation going. Let’s grow! Disclaimer:This podcast is for informational purposes only and is not a substitute for professional medical, financial, or legal advice. Always consult a qualified professional for personalized guidance.

Talya Miron-Shatz, PhD, is a leader in research at the intersection of medicine and behavioral economics. She is professor and founding Director of the Center for Medical Decision Making at Ono Academic College in Israel, senior fellow at the Center for Medicine in the Public Interest in New York, and a visiting researcher at the Winton Centre for Risk and Evidence Communication at the University of Cambridge. Miron-Shatz was a post-doctoral researcher at Princeton University, and a lecturer at Wharton, the University of Pennsylvania. She is the author of over 60 academic papers on medical decision making. She is CEO of CureMyWay, an international health consulting firm whose clients include Johnson & Johnson, Pfizer, and Samsung.   She wrote the book Your Life Depends on It: What You Can Do to Make Better Choices About Your Health. She wrote it for patients and clinicians alike. We discuss how patients are frequently overwhelmed with the information we give them. How to give it to them in a more digestible way, while still being time efficient, how we can tell if they are understanding us and how to tell if they don’t plan on following our recommendations. She also teaches us how to increase the chances that a patient will choose us as their doctor. Find her at www.talyamironshatz.com   Today's Sponsor is Locumstory. To find out more visit: www.financialresidency.com/locumstory    This medical podcast is your physician mentor to fill the gaps in your medical education. We cover physician soft skills, charting, interpersonal skills, doctor finance, doctor mental health, medical decisions, physician parenting, physician executive skills, navigating your doctor career, and medical professional development. This is critical CME for physicians, but without the credits (yet). A proud founding member of the Doctor Podcast Network!Visit www.physiciansguidetodoctoring.com to connect, dive deeper, and keep the conversation going. Let’s grow! Disclaimer:This podcast is for informational purposes only and is not a substitute for professional medical, financial, or legal advice. Always consult a qualified professional for personalized guidance.

I’m re-releasing this episode because of how critical it is. In my quest to be taught how best to have a fruitful discussion with those hesitant about the vaccine, I interviewed two science communicators, a social engineer, a lawyer, an expert in cognitive biases, and a motivational interview and of all of those, the last one was the most powerful tool for moving the needle on those hesitant to get the vaccine.  Motivational interviewing comes from addiction medicine, but using it for vaccine hesitancy actually precedes the COVID pandemic. It is used for new parents who are considering forgoing their newborns' vaccines. Mandates are going to get some to get the vaccine, but for others, a conversation with their trusted physician can be a powerful thing. Dr. Joseph Weiner teaches us how to use it to help our patients with vaccination and other decisions.  Dr. Joseph Weiner is an Associate Professor of Clinical Psychiatry, Medicine and Science Education at the Zucker School of Medicine at Hofstra/Northwell, where he co-directs the four-year curriculum in Physician-Patient Communication and Interpersonal Skills. Thinking and writing about how patients and clinicians communicate with each other has been a major interest in his career. This episode is sponsored by CompHealth Just head to financialresidency.com/comphealth and see what locums can do for you financially. This medical podcast is your physician mentor to fill the gaps in your medical education. We cover physician soft skills, charting, interpersonal skills, doctor finance, doctor mental health, medical decisions, physician parenting, physician executive skills, navigating your doctor career, and medical professional development. This is critical CME for physicians, but without the credits (yet). A proud founding member of the Doctor Podcast Network!Visit www.physiciansguidetodoctoring.com to connect, dive deeper, and keep the conversation going. Let’s grow! Disclaimer:This podcast is for informational purposes only and is not a substitute for professional medical, financial, or legal advice. Always consult a qualified professional for personalized guidance.