Financial Residency

Back for her second appearance is Dr. Stephanie Sogg, a clinical psychologist who has been at the MGH Weight Center since 2003. One our previous episode, we discussed the importance of language when discussing someone's weight, so on this episode, we talk about when and how to bring it up. We talk about how body acceptance is actually important to sustained weight loss, although on the surface it may seem like a contradiction. We talk about the influence of sleep, mental health, and when it is time to make recommendations, what actually works. As with most things, it is complicated. Dr. Sogg earned her PhD in clinical psychology from Rutgers University in 1998 and completed a post-doctoral fellowship with Harvard Medical School. In addition to her clinical work, Dr. Sogg conducts research on obesity and bariatric surgery, and the intersection between obesity and addiction, and has published widely on obesity and related topics. She is an author of the Boston Interview for Bariatric Surgery, and of the official ASMBS Recommendations for the Pre-Surgical Psychosocial Evaluation of Bariatric Surgery Patients. She is the director of the Weight Center rotation for Behavioral Medicine psychology interns and is active in national and international scientific obesity and weight loss surgery societies.

T. Marc Calvert, J.D. founded Calvert & Associates in 1996. His goal has always been to provide the highest quality of legal service to those who ask for his help. I asked for his help regarding what to say to a patient when you have a complication. Do we apologize? Not apologize? How much information do we disclose? We were introduced by Gita Pensa, an emergency medicine physician at Brown and the creator of the podcast Doctors and Litigation: The L Word. This is essential listening for all physicians. On top of settling the apology issue (kind of), Mr. Calvert says you need to exude competence and caring. We also talked about walking the patient through what happened and giving them a clear and concise plan for what you are going to do next. Since 1987, a primary focus of Mr. Calvert's practice has been health care liability defense, and over the years he has handled innumerable claims, disputed matters, and lawsuits. Mr. Calvert is board certified by the Texas Board of Legal Specialization in the field of Personal Injury Trial Law Mr. Calvert graduated with a J.D. from the University of Texas School of Law in 1987 and was admitted to the State Bar of Texas later that year. While at UT, he served as a law clerk for the Texas Employment Commission and wrote opinions for the commission appeals department. Mr. Calvert joined Edwards and Associates in August of 1987 after having completed a clerkship during the summer of 1986. The firm of Edwards & Calvert was formed when Mr. Calvert became a named partner in 1991. He became board certified by the Texas Board of Legal Specialization in the field of Personal Injury Trial Law in 1994 and has been re-certified at the indicated intervals ever since. On September 3, 1996, Calvert & Associates was established.

Provident Healthcare Partners is an healthcare specific investment banking firm whose services include mergers and acquisitions, equity and debt financing, and strategic advisory. On today's show, we have Directors AJ Shekar and Scott Davis. AJ is responsible for business development and deal execution across a range of healthcare services industries. During his tenure, he has advised dozens of companies that are considering strategic alternatives including strategic mergers and private equity recapitalizations. Scott leads transactions across a wide range of healthcare services sectors, focusing on business development, marketing, negotiation of deal terms, and due diligence efforts. This role requires Scott to be in frequent contact with the financial and strategic investor community to ensure transaction processes are positioned correctly. With the increased rate of purchase of physician practices by private equity, we discuss the why and how. Why should a younger partner consider selling? If you are considering joining a practice that might be selling, what questions should you be asking? The clear benefits are in economies of scale and better contracts from insurers, but they also point out the benefits of alternative revenue streams and being able to take advantage of value-based care. We also discuss what are the advantages of physician practices coalescing into a larger practice without PE vs. with PE. I know you'll learn a lot from this and don't worry, they've agreed to come back for a part two in the next month or two.

Deena Kishawi, MD, is a Chicago-based OBGyn resident physician who is particularly interested in health outcomes that are unique to Middle Easterners and North Africans residing in the United States. With her fluency in the Arabic language, her research with Muslim patients in healthcare, and her work with immigrant, refugee, and first-generation communities in Chicago, she is currently conducting research on these populations and is working towards training and educating healthcare providers about the unique challenges these population face. Dr. Kishawi is Muslim and wears a hijab and keeps her arms covered, so her first experience in the operating room as a medical student was challenging and led to start the blog HijabInTheOR.com her aim is to make the OR a safe and respectful place for hijab wearing healthcare providers. We discuss what her experience has been like treating patients wearing a hijab, both the good and the bad. We also discuss some of the basic tenants of Islam with which we should be familiar to best help our patients and our trainees and some issues in our healthcare system that can undermine Muslim patients and potentially impact their care.

When you are close to retirement private equity may come calling. What does a physician need to do when approached by private equity? What is there to consider? Everyone's situation is different. There are advantages and disadvantages to selling to private equity and the same when keeping a practice private. One of the major draws is that private equity tends to offer a considerable amount of income. However is it worth it? In this episode, private equity is discussed from two perspectives. Dr. Bradley Block invited two 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 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. Drew Locandro, MD, is a practicing general otolaryngologist with Northwest ENT and Allergy - Marietta, Georgia. 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. Today's sponsor is Locumstory. To find out more visit: https://www.doctorpodcastnetwork.com/locumstory

We make about 10,000 decisions every day! How do we know what decisions are the best ones? There are times that we may jump at the first thought because of excitement. We may think of the immediate outcome instead of the long-term outcome. Are there things we can do to ensure our process for decision-making is a good one? In this episode, Ryan and Paula Pant of Afford Anything discuss what to consider when making decisions regarding financial independence, early retirement, and more. Today's Sponsor is CompHealth. You can find out more by visiting: https://www.financialresidency.com/comphealthk

When you are close to retirement private equity may come calling. What does a physician need to do when approached by private equity? What is there to consider? Everyone's situation is different. There are advantages and disadvantages to selling to private equity and the same when keeping a practice private. One of the major draws is that private equity tends to offer a considerable amount of income. However is it worth it? In this episode, private equity is discussed from two perspectives. Dr. Bradley Block invited two 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 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. Drew Locandro, MD, is a practicing general otolaryngologist with Northwest ENT and Allergy - Marietta, Georgia. 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. Today's sponsor is Locumstory. To find out more visit: https://www.doctorpodcastnetwork.com/locumstory

Sometimes we set financial goals that will be great to achieve, but we do not have a good plan of how to reach that goal. The goal may be set too high or be too easy. What is the motivating factor that pushes us forward towards it? In this episode, Ryan and Jimmy discuss the art of making a good achievable goal and how to plan for working towards it. We can have an idea for a goal. Now it is time to get down into the details of getting to the finish line! Today's Sponsor is Comp Health. Find out more by visiting: https://www.financialresidency.com/comphealth

Navin Goyal, M.D. is a physician and entrepreneur who serves as CEO of LOUD Capital, early-stage venture capital and alternative investment firm leveraging capital, entrepreneurship, and education to grow impactful companies across the globe. Navin strives to make venture capital more purpose-driven, inclusive, and impactful. 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. Dr. Bradley Block and Dr, Goyal discuss his journey from the OR to the board room, how the grass is greener after leaving medicine, why they need to start before they're stagnating or burnt out. Venture capital is not as risky as perceived! Once you know the ins and outs, it can lead to some great opportunities for income. Today's Sponsor is Locumstory. To find out more visit: https://www.financialresidency.com/locumstory

Working towards financial freedom as a physician has quite a few moving parts. Where do you need to invest? What do you do when you pay off student loans? What are things to think about as you look at your financial future? There needs to be a balance to reap the benefits of financial freedom. Understanding the long-term mindset and generating enough cash flow to reach the point of financial freedom. In this episode, we talk to Scott Trench about the ins and outs of financial independence. Today's Sponsor is Comp Health. Find out more by visiting: https://www.financialresidency.com/comphealth