In this episode, host David Mandell welcomes Dr. Paul Lynch, a double board-certified anesthesiologist and pain management specialist, entrepreneur, and business leader. Dr. Lynch shares his remarkable journey from aspiring psychiatrist to pain medicine innovator—a shift inspired by his mother-in-law's battle with cancer and the discovery of interventional pain treatments that could transform patients' lives. His early experiences at the Mayo Clinic shaped his belief in comprehensive, integrated care—a philosophy that became the foundation for his first practice, Arizona Pain, which quickly became one of the nation's leading pain management centers.

Dr. Lynch details how entrepreneurial thinking, coupled with strategic use of digital tools, drove his success. His story of launching a medical website during fellowship—eventually ranking number one on Google before opening his doors—illustrates how physicians can use education-based marketing to reach patients and grow responsibly. As his career evolved, Dr. Lynch founded U.S. Pain Care, intentionally designed to avoid the mistakes of his first venture. Through introspection and what he calls his "Manifesto of 53 Errors," he now builds companies around lessons learned, focusing on empowering other physicians with ownership, autonomy, and ethical profitability.

The discussion also delves into real estate, private equity, and long-term business strategy in medicine. Dr. Lynch explains how owning medical real estate can be one of the most impactful and ethical ways for physicians to build wealth—separate from clinical care—highlighting the benefits of property ownership, long-term leasing, and physician-owned REITs. He closes with advice to doctors: never make fortunes "on the backs of patients." Instead, focus on providing excellent care while building wealth through smart business decisions, integrity, and surrounding yourself with expert advisors in law, finance, and real estate.

Learn more, including additional show notes, links, and detailed key takeaways, by visiting physicianswealthpodcast.com.

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In this episode of the Wealth Planning for the Modern Physician Podcast, David Mandell welcomes back Jerry Kelsheimer, President of Medic Management Group. With decades of experience in healthcare business management, Jerry discusses how the healthcare landscape has changed dramatically over the past five years, affecting physicians' financial performance and operational efficiency. He outlines the evolving challenges medical practices face—including reduced reimbursements, higher labor costs, and increasing patient demands and stresses the importance of disciplined, intentional business management.

Throughout the conversation, Jerry highlights common areas where practices can improve performance and financial outcomes. He identifies five operational areas ripe for improvement: front desk execution, administrative role clarity, revenue cycle management, compensation structures, and market development. By focusing on these, he explains, practices can identify hidden inefficiencies and regain profitability.

Finally, Jerry and David explore the emotional and leadership aspects of running a medical practice. Jerry shares his 'Four Cs' framework—conscience, competency, capacity, and courage—as a way for physicians to address burnout and lead meaningful change. He also predicts a future shift toward more collaborative hospital-physician models, with hospitals moving away from full employment toward partnership-based structures.

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!

In this episode of the Wealth Planning for the Modern Physician Podcast, host David Mandell welcomes Dr. Jacqueline Winkelmann, a pediatric hospitalist and founder of Scrub Sisters. Dr. Winkelmann shares her journey from growing up in Puerto Rico, being inspired by her uncle's compassion and dedication to medicine and eventually pursuing pediatrics as her calling. She discusses how financial foresight and a unique tuition waiver allowed her to graduate debt-free, enabling her to maintain a balanced career and family life as a part-time physician at the Children's Hospital of Orange County.

Dr. Winkelmann describes her transition from clinical practice to non-clinical roles in the healthcare industry. Through opportunities that arose organically, she became a consultant and medical advisor for pediatric and consumer health companies, eventually serving as Chief Medical Officer for a baby monitor company. She reflects on the differences between clinical and corporate medicine, emphasizing the need for physicians entering industry to understand the profit-driven mindset of business and to address burnout before pursuing such transitions. Her story highlights the challenges, rewards, and ethical dilemmas physicians may face when moving from patient care to product innovation.

Finally, Dr. Winkelmann discusses her nonprofit organization, Scrub Sisters, a 501(c)(3) community dedicated to supporting and empowering female physicians at all stages of their careers. The group provides mentorship, fosters real-life discussions about work-life balance, and addresses challenges such as mental health, parenting, and financial stress. With chapters in multiple states and countries, Scrub Sisters is rapidly expanding its reach and aims to create scholarship opportunities to help women overcome the financial barriers of medical school applications. The episode concludes with Dr. Winkelmann's vision for growing this supportive, mission-driven community of women in 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!