In this episode of the Prosperous Doc Podcast, as Dr. Scannell joins host Shane Tenny, CFP®, to share his experiences and insights, offering inspiration for those considering similar humanitarian endeavors. 

Project Perfect World started in the late 80s with the refurbishment of a medical clinic in Ecuador. Dr. Scannell began volunteering with the group around 2010. At that time, the project’s focus was shifting toward pediatric orthopedics. Now the group organizes twice-yearly missions to the area, providing medical care each spring and fall.

“Anytime you're doing mission work, I think of going in and making sure that local surgeons and physicians are involved, making sure that there's good communication, making sure that there is good follow-up for those patients,” Dr. Scannell says. “So it's never something that you go in and you do these big surgeries, and then you're just gone.” 

The trips have been profoundly fulfilling for Dr. Scannell, both in terms of fighting burnout, reigniting his passion for the profession, and building long-term friendships with the other doctors who travel with him. 

💡 Featured Guest 💡

Name: Dr. Brian Scannell

What he does: Dr. Brian Scannell specializes in pediatric orthopedic surgery at OrthoCarolina in Charlotte, NC, and serves as the Orthopedic Surgery Residency Program Director at Carolinas Medical Center Atrium Health. He is currently the Chief of Pediatric Orthopedic Surgery at Levine Children's Hospital Atrium Health. 

Company: OrthoCarolina

Words of wisdom: “It's one of those things that refills the bucket. There's other things that I do to kind of help refill my bucket. But medicine and healthcare is hard and burnout is real. We all feel that at times. It's a fun, selfless thing that I found that the patients are unbelievably grateful for, and that refills my bucket.”

Connect: Website | Project Perfect World 

💰 On the Money 💰

Top takeaways from this episode 

• Project Perfect World brings surgeons to Ecuador. The initiative was originally started to honor the memory of Bob Simpson’s son, who was killed by a drunk driver. The original projects included assisting medical clinics and slowly became more specialized over time. Dr. Scannell found the organization through peers in the industry who invited him on his first mission around 2010. 
• Education is an important part of the missions. Dr. Scannell explains how the team typically operates with two American surgeons in each surgery, one serving as the primary surgeon and the other focusing on education. Ensuring ongoing communication and follow-up care for patients is an important part of their trips. The team also conducts educational sessions for nurses and local surgeons, creating a supportive environment for skill development and knowledge sharing.
• The absence of screening protocols results in more surgical needs. Dr. Scannell sees more cases of congenital hip dysplasia, often in older children, which means they may need surgical intervention. He also performs foot and ankle surgeries for clubfoot, something that is rarely seen in the US. 
• Find fulfillment in the work. Despite the costs, missed income, and long hours, Dr. Scannell finds the mission work incredibly rewarding. In addition to the rewarding patient care, he’s formed friendships with the other medical staff who go on the missions that enrich the experience. 

⚡ Prosperous Insights ⚡

[02:21] Ortho and kids: Dr. Scannell shares his early medical journey and what brought him to decide on orthopedics and pediatrics. Mentors early on in his career inspired him to become an orthopedic surgeon. 

[05:03] Operating all over the body: Dr. Scannell enjoys getting to do a variety of procedures in his practice. He specializes in scoliosis and spine deformity cases, as well as congenital issues like club feet and hip dysplasia in infants and children. 

[06:37] Project Perfect World: Dr. Scannell first got involved in medical missions through existing friendships and long-term connections with fellow physicians. 

[08:39] Delivering much-needed care: The project started in the 80s with the refurbishment of a medical center in Ecuador. Today, there is a distinct focus on providing the orthopedic care that the country so desperately needs.

[09:52] Adjusting to new work environments: Dr. Scannell reviews what a typical day looks like during the mission. Some things are similar to working at home in the US, though sometimes the process and how he approaches cases differs.

[16:25] Lack of screening protocols: Not having screening protocols in place at birth means that Dr. Scannell has found later-term  cases of hip dysplasia, some as late as five years old. 

[20:39] Refill the bucket: Dr. Scannell participates in the mission trips because the work is rewarding and it gives him a chance to take a break from the American medical system.

[23:45] Fight burnout by giving back: Dr. Scannell  reviews different ways to get involved with medical missions and things to consider when deciding which trip or initiative might be the right fit.

[28:50] Good mentors are priceless: Both the crew who attend the missions with Dr. Scannell and the doctors who influenced him early on in his career get a shout-out  for their impact. 

💵 Financial Wellness Tip 💵

Understanding where your cash flow is going every month is essential to creating an actionable plan for your financial goals. Use our monthly cash flow worksheet to give you clarity about where your money is going and help you create a budget.

• Get our Personal Cash Flow Worksheet.

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@prosperousdoc.com or on Twitter.

Compliance code: CRN202704-6309673

Fortunately, the pharmaceutical and biotech industries offer opportunities for you to use your clinical knowledge in a different kind of role. Dr. Nerissa Kreher, MD, MBA, advises physicians on how to make the shift from the grind of seeing patients and doing procedures to working in pharma or biotech.

Three different roles comprise the options for physicians looking to land biotech or pharma careers: medical affairs, clinical development, and drug safety or pharmacovigilance. Each role lends itself to different types of practitioners.

On this episode of the Prosperous Doc®, our host Shane Tenny, CFP® welcomes Dr. Kreher to discuss how she made the move from the patient room to research. For her, it all started with a pharma rep asking for her resume to pass back to their company. But she thinks there are plenty of other ways to break in.

“I’m a big fan of LinkedIn,” she says. “LinkedIn is a great place to not only network — which is critically important to making this transition [to clinical research] — but also to job search.”

Compensation for physicians transitioning to the pharma/biotech field starts in the mid-to-upper $200K range, with bonus opportunities and the potential for equity and options. But perhaps the greatest compensation of all for a tired physician? No call. 

The number of hours physicians spend working on call or during weekends factors into their hourly rate, Dr. Kreher explains. “That’s something that they should translate as well, as compared to just thinking about that annual salary piece.

💡 Featured Guest 💡

Name: Dr. Nerissa Kreher, MD, MBA

What she does: Dr. Kreher is the Chief Medical Officer (CMO) of a biotech company and a pediatric endocrinologist. Her move into the pharmaceutical industry occurred early in her career, and she has now accumulated more than 15 years of experience working in biotech and pharma.

Company: The Pharma IndustryMDCoach

Words of wisdom: “There’s a myth that there’s no stress in the pharma and biotech industry. The stress is still there, but it’s different stress.”

Connect: LinkedIn | Website

💰 On the Money 💰

Top takeaways from this episode 

• Physicians have three roles to choose from. Medical affairs involves presenting research findings to the public and with peers at conferences. Clinical development involves designing and executing clinical protocols and determining efficacy metrics. Finally, pharmacovigilance involves interpreting data related to drug safety. 
• The schedule is more flexible. While working in pharma/biotech isn’t always an even 40 hours, there is no call. You might still expect occasional nights and weekends when meeting a deadline, but it’s much more flexible than a typical practicing physician position. 
• Your skills will transfer. Even without a deep background in clinical research, the skills you bring to patient visits are the same ones you need in research. Dr. Kreher highlights leadership, humility, and communicating medical concepts in lay terms as the skills you’ll need to succeed. 
• There’s money to be made in pharm/biotech. Procedural-based physicians may not see as much of a pay bump as non-procedural-based physicians. However, the compensation for pharma careers tends to start in the mid-to-high $200K range. There’s also an impressive bonus structure with opportunities to increase by 20% to 25%. 

⚡ Prosperous Insights ⚡

[05:01] Scientific vs clinical research: Dr. Kreher draws the distinction between scientific research, which occurs in the lab, and clinical research, which occurs with actual human patients. 

[08:51] Three different flavors: Typically, there are three roles that are common for physicians to move into when they transition from practice to pharma and biotech: medical affairs, clinical development, and drug safety. Dr. Kreher details the differences between the types. 

[14:16] Fact vs fiction: Dr. Kreher’s coaching work dispels myths about how to work in the pharmaceutical industry. Physicians do not necessarily need a strong research background to land a position in biotech or pharma. 

[15:12] It’s different stress: While a physician working in the pharmaceutical/biotech space might not be dealing with the grind of patient visits and EMR maintenance, they often have to adjust to communicating with professionals of different backgrounds than medical. 

[18:53] All specialties have a place: Dr. Kreher believes that any physician specialty can find a home in pharma and biotech. It might seem that family or internal medicine wouldn’t have a place in research, but those clinicians are good fits for drug safety roles.  

[21:30] Skills to display: The skills that are helpful in the pharma and biotech industry are the same as what you bring to any clinical position: leadership, humility, and the ability to translate complex concepts into lay terms. 

[22:31] Compensation considerations: Non-procedural physicians will experience a greater increase in compensation, with base salaries in the mid-to-upper $200K range. There are also bonuses of 20% to 25%, plus equity options. 

[23:22] What is ‘no call’ worth to you?: Physicians working in biotech and pharma careers don’t have to deal with call, and that has an opportunity cost. Even if the compensation is lower than what you might get as a procedural physician, not being on call is a major lifestyle bonus. 

[24:55] Not ready to jump? Dabble: If you want a taste of what working in biotech and pharma is like, companies are often looking for clinicians to consult. This is particularly true for those who have established themselves as thought leaders in the field, something you can do with an active LinkedIn account.

💵 Financial Wellness Tip 💵

Have you found that your income is near its peak potential, yet you’re still not sure where the money is going or what to do with the surplus? Do you have cash piling up in your checking account because you don’t have the time to figure out where else to direct it? Are finances a source of confusion or even conflict in your marriage?

• Check out our Free Budgeting Guide for mid-career doctors!

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@prosperousdoc.com or on Twitter.

Compliance code: CRN202608-4945833

Dr. Neal practices optometry alongside his wife, Dr. Amy Neal. When they first opened their practice, he began to experience the challenges of developing a team alongside a growing business.

“We were approaching hiring team members the wrong way. We were approaching it completely upside down. And unfortunately, we got the results that we deserved because of how we were approaching it,” Dr. Neal says about his first hiring challenges.

A desire to streamline the hiring process and evaluate candidates more effectively led Dr. Neal to develop assessments that determine a candidate's suitability for a role and their ability to learn quickly. These assessments are delivered via text message and filter out 97% of applicants, removing a significant administrative burden from the hiring process. This was the starting point of his other business venture, Build My Team, which delivers better people faster. 

Later in the episode, Shane and Dr. Neal discuss the benefits of bringing in a professional manager to oversee the operations of a medical practice. 

“It's the team that's providing the care for the bulk of [the time]. If you want to advance in healthcare, one of the ways to do it is to adopt that mindset and bring on these A players,” he says. 

💡 Featured Guest 💡

Name: Dr. Michael Neal

What he does: As the Chief Executive Officer at Build My Team, Dr. Neal is the face of the company. He founded Build My Team as a result of his own practice’s hiring struggles.

Dr. Neal is a practicing optometrist alongside his wife, Dr. Amy Neal, at Lakeside Vision in picturesque Hawley, Pennsylvania. They are celebrating their 20th year of servicing patients in Northeast Pennsylvania. 

Company: Build My Team and Lakeside Vision

Words of wisdom: “I like to grow businesses. That's one of the things I get most excited about. We serve people, we grow, and do as good a job as possible.”

Connect: Website 

💰 On the Money 💰

Top takeaways from this episode 

• Resumes don’t do what you need them to do. Traditional interviews often leave candidates feeling intimidated and unable to showcase who they really are. Dr. Neal did not find success when relying on resumes as the primary tool for hiring, as they do not effectively assess a candidate's potential performance. A shift in approach puts the focus on identifying candidates who can excel in their roles based on their abilities.
• Streamline hiring with targeted assessments. Dr. Neal developed assessments for candidates to quickly determine their suitability for the role and how fast they can learn on the job. Candidates receive the assessment via text message after applying for a position. He shares that they now reject 97% of applicants. 
• Select from a roster of A players. Build My Team streamlines the hiring process by writing and publishing the job description for the physician, screening applicants, and conducting one-way video interviews with promising candidates. This process reduces costs and saves hiring managers time. 
• Hire candidates who are naturally talented for the position. Placing people in roles where they can excel and be happy will give companies a high level of employee satisfaction and retention. Candidates who do not naturally fit a role will be more likely to seek alternative employment opportunities. 

⚡ Prosperous Insights ⚡

[03:12] Founding the practice: Dr. Neal works with his wife in their practice, which was founded when she didn’t want to go into private practice and found an opportunity to open her own practice in an underserved rural area. 

[05:19] Trial by fire: Dr. Neal joined his wife’s practice after a fire burnt the building to the ground, and they had to start over. Once they teamed up, they started to experience growth within the business and that’s when he began to see challenges with managing the team. 

[07:17] The old school approach: Dr. Neal explains how his initial hiring process did not work for his practice. The resumes he was receiving were not an accurate representation of who the candidates were. 

[12:10] Finding a better mousetrap: Frustrated by the poorly matched hires, Dr. Neal found that industry leaders like Disney were using assessments over resumes for vetting candidates. He sought out to develop his own assessments delivered to candidates via text message. 

[19:43] Adapting to remote work: Dr. Neal shares an example of one team member who is now working remotely. That works for some positions, but optimal outcomes require great team members in-person. 

[23:51] Competing in a tight job market: To be more competitive in the job market, Dr. Neal recommends making decisions quickly. Grade A players will have multiple offers, so he gives competitive compensation that is often more than what candidates are asking for. 

[27:27] Bring in professional managers: Professional managers have a huge impact on the performance of the practice. Practitioners aren’t always the best managers of a business, and a designated hire can fill those gaps.

[30:51] Shoutouts: There are three people who helped Dr. Neal get to where he is today. He credits Dr. Gary Webmore whose practice he had his first job at as a receptionist, Dr. Joe Rita who showed him the possibilities of running a business in healthcare during optometry school, and Frank Tuffy for helping run his practice and Build My Team. 

💵 Financial Wellness Tip 💵

Understanding where your cash flow is going every month is essential to creating an actionable plan for your financial goals. Use our monthly cash flow worksheet to give you clarity about where your money is going and help you create a budget.

• Get our Personal Cash Flow Worksheet.

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@prosperousdoc.com or on Twitter.

Compliance code: CRN202702-5864946

“It's very obvious that there's a deficit now that I've done a little bit more research. As clinicians, because you're so immersed in patient care, you're reading the literature, you're interpreting the literature, there's a sense that you're aware of what research is needed, ” Dr. Onwuemene says in regards to moving from a clinician to a researcher. “You can interpret the research, but the gap we have is not recognized [is] how much really needs to come together to be able to be successful as a researcher.”

In this episode of the Prosperous Doc®, host Shane Tenny, CFP® welcomes Dr. Onwuemene to discuss her path to becoming a clinician scientist. Dr. Onwuemene views research as an exciting growth opportunity that feeds her curiosity to answer questions to help people improve their health. 

Recognizing there is a lack of mentors available to help guide clinicians to become clinician scientists, Dr. Onwuemene offers coaching to professionals in the field. She fills the gap for individuals who feel they lack the necessary training or mentoring to succeed in their research. Her ideal coaching client is someone who is early in their career and wants to move research forward but has the opportunity and the ability to lead their own experience. 

And if it’s not early in their career, it’s not too late. But sooner is better. “From the beginning, start with what you care about,” she says. 

💡 Featured Guest 💡

Name: Dr. Toyosi Onwuemene

What she does: Toyosi Onwuemene, M.D. M.S. is an Associate Professor of Medicine-Hematology at Duke University School of Medicine and a coach, consultant, and speaker. She helps academic clinicians build research programs so that they can thrive in their careers while making a lasting impact. She also hosts two podcasts — Heme Consults for Women of Color in Hematology and Clinician Researcher.

Website: https://www.coagcoach.com/ 

Words of wisdom: “The work we do matters and being able to care for not just the person in front of us but generations beyond them is so powerful, and it's so impactful.”

Connect: LinkedIn | Instagram 

💰 On the Money 💰

Top takeaways from this episode 

• Research can take years to yield actionable results. Academic clinicians need to not only conduct research but also navigate manuscript writing, publication processes, and grant applications. Institutions need to provide protected time and resources for clinician training in research methodologies to allow clinicians to build their skills.
• Pursuing research can provide both excitement and personal growth opportunities. Despite having to navigate institutional support challenges, Dr. Onwuemene sees opportunity for clinical research to deliver growth and development. It’s a chance to answer impactful questions that can help a lot of people. 
• Bring people to earlier diagnosis. Research gives the opportunity to diagnose patients earlier. It starts with identifying barriers and forming hypotheses, leading to the accumulation of knowledge and more inquiries from practitioners.
• It takes time to figure out what you want, but the earlier the better. Physicians are encouraged to identify their career aspirations early on and align their training accordingly to prevent challenges later. When pursuing faculty positions, you can negotiate including research aligned with your interests and push for protected time, funding, and mentoring. 

⚡ Prosperous Insights ⚡

[03:04] Clinician scientists bridge the gap: Dr. Onwuemene discusses how clinician scientists address the unanswered questions in the clinical space. They form research questions to ultimately improve patient outcomes.  

[04:48] The gap between clinicians and scientists: According to Dr. Onwuemene, extensive training and qualifications are required to succeed as a research scientist even after completing their clinical training. Notably, more practical experience is needed to move from being a clinician to a PhD researcher. 

[07:33] Access to mentors: Having a mentor is a huge benefit for academic clinicians, despite only 20% of clinicians having one. Because of this, on-the-job training becomes very important to building skills and learning how to conduct research. 

[11:22] Bringing people to the table: Dr. Onwuemene reviews one of her recent projects that focuses on a rare, hard-to-diagnose blood clotting disorder. Her research has given her the opportunity to find ways to treat more people sooner, which is really impactful. 

[15:49] Be strategic with the resources you do have: Through her coaching work, Dr. Onwuemene helps other clinicians find different ways to pursue a transition into research when traditional mentors might not be available. 

[17:48] Scientists are communicators: Dr. Onwuemene underscores the importance of scientists having strong communication skills to communicate with the scientific community, with funders, and with the public. 

[18:44] Moving research forward: The typical profile of someone who comes to Dr. Onwuemene for coaching is a clinician who is early in their career or has been practicing for a few years and wants to move research forward. 

[24:38] Building revenue and value opportunities: Dr. Onwuemene reviews the different ways a clinician can drive revenue to their institution. She also reviews how her coaching practice can help clinicians create value opportunities through their work for their institution, particularly when they are not able to bring in a lot of funding. 

[28:65] Mentor shout out: Dr. Onwuemene recognizes Dr. Betty Pace, Physician Scientist at Augusta University for her work in mentoring clinician scientists and the inspiring research programs she has sponsored over the years. 

💵 Financial Wellness Tip 💵

Have you found that your income is near its peak potential, yet you’re still not sure where the money is going or what to do with the surplus? Do you have cash piling up in your checking account because you don’t have the time to figure out where else to direct it? Are finances a source of confusion or even conflict in your marriage?

• Check out our free budgeting guide for mid-career doctors!

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@prosperousdoc.com or on Twitter.

Compliance code: CRN202702-5845268

“The patient will never care how much you know until they know how much you care.” This quote aptly summarizes today’s episode of the Prosperous Doc®, where host Shane Tenny, CFP® welcomes Dr. Scott Abramson, a retired neurologist who practiced medicine for over 40 years with Kaiser Permanente in Northern California. Dr. Abramson is also the author of a book titled, Bedside Manners for Physicians and Everybody Else: What They Don't Teach in Medical School or Any Other School, which includes stories from his extensive medical experience and from coaching colleagues in the mission of physician communication. Tune in to hear Dr. Abramson talk about “bedside manner”, a central element of patient care. Dr. Abramson also shares his perspective and insights from years of training, including actionable communication tips, and practical takeaways. 

💡 Featured Guest 💡

Name: Dr. Scott Abramson

What he does: Dr. Scott Abramson is a retired neurologist who practiced medicine for over 40 years with Kaiser Permanente in Northern California. He's also the author of the book, Bedside Manners for Physicians and Everybody Else: What They Don't Teach in Medical School or Any Other School. 

Dr. Abramson has been passionately involved in physician communication and physician wellness endeavors. While retired from neurology, Dr. Abramson remains actively engaged in these pursuits. He has conducted numerous workshops in these areas and has personally coached many physicians. He has developed programs on time management, physician-patient communication, marriage in medicine, burnout, the threatened physician, difficult conversations, storytelling, and his favorites: “The Secret of Happiness” and “What The Great Wisdom of Country Music Can Teach Physicians.” Dr. Abramson also has a YouTube website channel called Doctor Wisdom, where he shares insights and stories from his extensive experience and years of practice. 

Words of wisdom:  “My hope is that number one, you will develop a better connection with your patients because if they like you, they will connect with you. If they connect with you, they'll trust you. If they trust you, they're gonna follow your advice. If they follow your advice, they're gonna have a better outcome. Number one is better patient outcome. 

The second thing is better clinician outcome because when you connect with people, when you can do that on a human level and not just, you know, find it, fix it, explain it, go bye-bye, it brings such joy and meaning to your medical practice.”

Connect: LinkedIn | Website

💰 On the Money 💰

Top takeaways from this episode 

• Building connection can benefit patients as well as doctors. Feeling good about interactions with your patients can sustain you in your practice, in spite of EMR issues, systemic administration issues, etc. 
• Communication is something you can learn. Some doctors have a natural ability to connect with people, but most of us need to work on it. Even if you’re not a natural communicator, you can learn these skills.  
• Be willing to apologize. A lot of things can happen, but it’s important to have decency and know when to apologize. This is a simple gesture that goes a long way toward building rapport, connection, and trust with your patient, and ultimately a better doctor-patient relationship.  

⚡ Prosperous Insights ⚡

[04:48] Toastmasters: Toastmasters is an organization that teaches people about public speaking and public listening. Dr. Abramson thought that if he could bring those listening skills to patient care, it could make a difference. And he found that it did.

[09:01] What matters: When you eliminate the simple three-letter word, “the,” you are asking the patient, “what matters,” instead of “what’s the matter.” This is the crucial thing about communication: what matters. 

[11:09] Myth-busters: It’s a myth that a good bedside manner has to take more time. If you can ask the right question, then you don’t need to spend a lot of time with your patients to have a genuine interaction. Asking the right question will also make the patient feel a better connection with you. 

[19:20] Empathic statement: One of the things Dr. Abramson teaches about communicating with empathy, is to make it a habit with every patient. All it takes is one empathic statement.

[28:28] Bowling anyone?: One of Dr. Abramson’s communications tips is to make a simple social comment. It takes very little time and it makes the patient feel more connected to you. It will also save you time in the long run because the patient will trust you and be willing to take your advice. 

[32:25] Shout-outs: Dr. Abramson would like to thank Dr. Terry Stein, who started the communication effort at Kaiser. Dr. Abramson would also like to thank Dr. Mahendra Somasundaran, who was one of his attendings in the 1970s. He was humble, caring, and compassionate to his patients and became a role model to Dr. Abramson. Finally, Dr. Ambramson would like to thank his father, who was a vacuum cleaner salesman all his life and believed in everything he sold. 

💵 Financial Wellness Tip 💵

Understanding where your cash flow is going every month is essential to creating an actionable plan for your financial goals. Use our monthly cash flow worksheet to give you clarity about where your money is going and help you create a budget.

• Get our personal cash flow worksheet.

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors, dentists, and those whose work can help them to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists throughout the U.S. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP®, at shane@prosperousdoc.com.

Compliance code: CRN202612-5530999

“I think the movement towards value-based care in medicine has been tremendous and so enjoyable. I know a lot of people feel like it’s a grind, and it’s so hard to meet these metrics and earn these incentives. But what it has done for our practice is truly improve the quality of care that our patients receive,” Dr. Meyer says. 

In this episode of the Prosperous Doc®, host Shane Tenny, CFP®, welcomes Dr. Meyer to discuss the preservation of independent medical practices and the alarming changes in the medical landscape over the past decade, with many private practices disappearing or being acquired. 

In 2022, the American Medical Association found that wholly physician-owned practices had dropped from 60% a decade ago to just above 45%. 

Despite the challenges of running an independent practice, Dr. Meyer can attest to how rewarding it can be. In its early days, the practice was just her, two examining rooms, and a couple hundred patients. Today, her practice includes five physicians, 15 advanced practitioners, and a team of 55 with multiple buildings to support the more than 20,000 patients they are responsible for. 

“People probably think they need to have some sort of a business degree to run a successful medical practice, and you really don’t,” Dr. Meyer says. “I think it goes back to the patient experience. If you’re a physician and you went into medicine to provide patients with an excellent experience, you can run a successful medical practice.”

💡 Featured Guest 💡

Name: Dr. Christine Meyer

What she does: Dr. Meyer is the founder and owner of Christine Meyer, MD and Associates. She was born and raised in New Jersey to first-generation Egyptian parents. She received her Bachelor’s Degree from Rutgers University and then went on to earn her Medical Degree from Hahnemann University School of Medicine (now Drexel University). Dr. Meyer then completed her Internal Medicine Residency at Thomas Jefferson University Hospital and is Board Certified in Internal Medicine. 

Company: Christine Meyer, MD and Associates 

Words of wisdom: “Private practice allows you to build a culture in your organization that you are proud to work in.”

Connect: Website 

💰 On the Money 💰

Top takeaways from this episode 

• Bad business management equates to bad patient care. When Dr. Meyer experienced frustration with poor management while working as an employed physician, she saw how poor business management trickled down to affect patients. This is why, when the opportunity arose to venture out on her own as an independent practice, she didn’t hesitate to make the switch. 
• It takes time for a new practice to be sustainable. It took Dr. Meyer about three years to start to see steady and stable growth in her practice. In the early days, she focused on providing excellent care to the initial patients. As her finances got stronger, she was able to expand the team that was seeing patients, which is when the revenue really started to come in. 
• You need to trust someone else with your patients. One of the significant inflection points for Dr. Meyer was bringing on more practitioners to allow the practice to scale. While her first nurse practitioner hire worked out well, other hires later on were detrimental to the practice and taught her the importance of building a strong team of clinicians. 
• You don’t need a business degree to run a successful medical practice. The key is focusing on the patient experience rather than just providing care. Understanding the environment that makes patients comfortable and ensuring accessibility, such as offering extended hours, contributes to a successful practice.

⚡ Prosperous Insights ⚡

[00:30] The state of independent practices: Shane gives an overview of current trends in the medical space, showing that more doctors are moving away from independent practices and how the issue is particularly dire amongst younger doctors. 

[02:49] Venturing out on her own: Dr. Meyer shares the factors that led her to venture out on her own: frustration with poorly managed practices, a belief in her ability to provide better patient care, and office space becoming available at the right time. 

[06:30] Lean beginnings: About 100 patients from Dr. Meyer’s previous practice followed her to her independent practice. Her first employee was her mother — who was open to learning medical billing — and it was three years before she felt confident in growing the team. 

[09:32] Being a bad boss: It wasn’t until Dr. Meyer started to really value people that she became a better person and a better leader for her practice. She shares how she turned around her management style to build a better business. 

[12:55] Scaling beyond individual efforts: Dr. Meyer shares key inflection points on her entrepreneurial journey, including hiring the first nurse practitioner, transitioning to electronic medical records, investing in a new building, and building a reliable team. 

[18:40] Clear metrics to follow: Dr. Meyer shares quantifiable examples of how patient care at her practice has improved over time because she is able to prioritize value-based care. 

[24:55] You don’t need a business degree: Dr. Meyer reiterates that it all comes down to patient experience. You don’t need a business degree to run a medical practice — as long as you’re putting your patient first, you can figure out the rest as you go. 

[28:30] The fee-for-service model doesn’t work: Dr. Meyer advocates for alternative payment models like the Shared Savings Program to encourage high-quality care for patients. 

[30:06] On a mission: If there’s one thing that’s top of mind for Dr. Meyer, it’s her personal mission to get people to consider primary care because of the impact they can have on their patients. 

💵 Financial Wellness Tip 💵

Have you found that your income is near its peak potential, yet you’re still unsure where the money is going or what to do with the surplus? Do you have cash piling up in your checking account because you don’t have the time to figure out where else to direct it? Are finances a source of confusion or even conflict in your marriage?

• Check out our free budgeting guide for mid-career doctors!

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@prosperousdoc.com or on Twitter.

Compliance code: CRN202611-5421737

But Dr. Cho-Dorado didn’t start as an entrepreneur or financial literacy expert. Her own knowledge gap prompted the creative leap.

“I was about eight years into practice as an attending and already almost 40. And I just realized, at some point, despite all those years of medical school and training, I had received very little financial education,” Dr. Cho-Dorado explains. 

On this episode of the Prosperous Doc®, our host Shane Tenny, CFP® welcomes Dr. Michele Cho-Dorado, a pediatric gastroenterologist, Medical Director, author of the children’s book Reach for the Stars, and founder of Bright Futures EDG, which strives to educate and empower children through money knowledge.

Dr. Cho-Dorado speaks about her immigrant parents and her upbringing, her work ethic and perseverance, and how, despite it all, she found herself in the dark about money and what to do with it. She set out to become more money savvy and, in doing so, opened the door for personal growth and even more success.

Tune in to hear about how Dr. Cho-Dorado took charge of her finances, learned more about creating wealth for herself, and now shares this knowledge with today’s youth.

💡 Featured Guest 💡

Name: Dr. Michele Cho-Dorado

What she does: Dr. Michele Cho-Dorado is a pediatric gastroenterologist, Medical Director, and author of the children’s book “Reach for the Stars.” Michele is the founder of Bright Futures EDG, which serves as a platform to share about financial literacy and empower kids to be bold and to think big.

Company: Bright Futures EDG

Words of wisdom: “Just because I didn't know about it before, doesn’t mean I cannot learn and master it.”

Connect: LinkedIn

💰 On the Money 💰

Top takeaways from this episode 

• Don’t pigeonhole yourself in your work. Dr. Cho-Dorado always considered herself just a doctor. When she became curious about her money and how to make better financial decisions, she got creative. Following those interests and creative drives led Dr. Cho-Dorado to become an author and entrepreneur. 
• Make your money work for you. Physicians typically make good money. Dr. Cho-Dorado learned about different asset classes and how to make her money work for her rather than strictly working for money. In addition to the stock market, she learned about real estate investments, as well as mutual funds, exchange-traded funds (ETFs), and bonds.
• Teach your kids about money. Shane and Dr. Cho-Dorado discuss practical tips for teaching kids about money. They include being transparent, talking about all things money, introducing concepts, and demonstrating the behaviors and concepts that you are teaching.

⚡ Prosperous Insights ⚡

[02:56] A late start: Dr. Cho-Dorado shares how she came to write a children’s book about financial literacy while having a professional background in medicine. 

[08:13] Environmental factors: Whether you grew up with money or were raised in a house where money was scarce, there are always financial messages being taught or picked up. Dr. Cho-Dorado discusses the effects of her upbringing on her financial literacy.

[12:13] Introductions: Dr. Cho-Dorado shares some of the books she first picked up when initially interested in expanding her financial knowledge: Rich Dad Poor Dad by Robert Kiyosaki and The Go-Giver by Bob Burg and John David Mann.

[14:40] All in: From initial ideas to written drafts to finding an illustrator, Dr. Cho-Dorado dives into the process of creating her children’s book, Reach for the Stars, which introduces financial concepts to kids in a fun way.

[18:08] Expansion: After writing her book, Dr. Cho-Dorado felt compelled to educate a wider audience of children. So, she developed a platform, Bright Futures EDG, to get the information out to as many kids and parents as possible. 

[24:33] Special thanks: Although Dr. Cho-Dorado did not grow up with financial knowledge, she thanks her parents for instilling in her a strong work ethic. She also thanks her husband for pushing her to think outside the box, as well as her community of physicians. 

💵 Financial Wellness Tip 💵

Understanding where your cash flow is going every month is essential to creating an actionable plan for your financial goals. Use our monthly cash flow worksheet to give you clarity about where your money is going and help you create a budget.

• Get our personal cash flow worksheet.

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors, dentists, and those whose work can help them to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists throughout the U.S. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP®, at shane@prosperousdoc.com.

Compliance code: CRN202610-5234079

Hearing these numbers is jarring and figuring out how to solve this problem is downright daunting. Where does the solution begin?

On this episode of the Prosperous Doc®, our host Shane Tenny, CFP® welcomes Dr. David Callaway to discuss the complex issue of gun violence in America. Dr. Callaway brings a distinctive perspective to the conflict, approaching it from the standpoint of a physician, a veteran, a gun owner, a law enforcement officer, a father, and a leader in his community.  

Dr. Callaway is an emergency medicine physician at Atrium Health in Charlotte, North Carolina, the region's only Level I trauma center. He’s been practicing medicine for about 20 years and served as a physician with the United States Navy and the Marine Corps, as well as in Iraq with a mobile surgical unit. After leaving active duty in 2005, Dr. Callaway spent the bulk of his career working on security and violence-related issues with law enforcement and now serves as a sworn Task Force officer with US Marshals. Needless to say, he has extensive experience with guns, violence, and the law. 

Together, Shane and Dr. Callaway needle through tough gun violence topics. Dr. Callaway shares his beliefs in coalitions and the importance of getting everyone to agree on a single issue.

Tune in to hear about Dr. Callaway’s belief in gun safety and gun ownership accountability as two of the first steps to be prioritized in combating gun violence. 

💡 Featured Guest 💡

Name: Dr. David W. Callaway, MD, MPA

What he does: Dr. David W. Callaway is a Professor of Emergency Medicine at Atrium Health where he serves as the Director of the Division of Operational and Disaster Medicine and Enterprise Chief of Crisis Operations and Sustainability. Outside of the medical center, Dr. Callaway also serves as the Chief Medical Officer for Team Rubicon, an international disaster response NGO, and as a sworn U.S. Marshal Task Force Officer. 

Company: Atrium Health

Words of wisdom: “You can’t have a right without responsibility.”

Connect: LinkedIn

💰 On the Money 💰

Top takeaways from this episode 

• Choose the main problem that needs to be solved. When it comes to majorly complex systemic issues like gun violence, Dr. Callaway argues that the first step to solving the problem is getting all sides to agree on and pinpoint the actual issue. Is the issue access to guns? Is it the types of guns? Is it safety rules? For Dr. Callaway, the most important problem is the death rates. Getting all parties to agree on that is pivotal to finding a solution. 
• Don’t be afraid to get involved. Physicians are natural community leaders. People look to them for guidance and reassurance. Dr. Callaway encourages all physicians, regardless of their specialty, to get familiar with their community’s gun and firearm safety and prevention policies.  
• The government will follow the money. “The government doesn’t lead. It follows, and it follows the money,” says Dr. Callaway. This is why physicians and health care systems are a key part of this fight — health systems have the money. Therefore, physicians need to come together with their communities and take steps to solve this.   

⚡ Prosperous Insights ⚡

[02:56] Unique perspective: Dr. Callaway’s background and expertise gives him a very unique outlook on the topic of gun violence. He approaches the issue from four unique standpoints: as a physician, a law enforcement officer, a father, and an American.

[07:27] Common denominator: When it comes to complex systemic issues, Dr. Callaway likes to first get everyone to define the actual problem. With gun violence, he believes the problem is the remarkable death rate each year and it being the leading cause of death amongst children.

[11:53] Build the coalition: During his time in Iraq and Afghanistan, Dr. Callaway saw success with coalitions to solve public safety issues. He has also seen coalitions as effective to solve problems in healthcare as well. 

[16:38] Key players: Physicians can play a major role in the fight against gun violence. As natural leaders, they see the impacts of gun violence first-hand — both its immediate and lasting effects.

[23:07] A narrow focus: Dr. Callaway believes the focus should be on gun safety and accountable gun ownership. While he agrees assault rifles shouldn’t be in the streets, he points out that most gun deaths are from pistols and half of them are suicide. 

[26:26] Get engaged: Regardless of specialty, Dr. Callaway believes every physician can get involved in the fight against gun violence by familiarizing themselves with their professional society’s gun violence and firearm injury prevention policy and learning from the leading groups in the space, like AFFIRM, RAND Corporation, Kaiser Family Foundation, and The Pew Charitable Trusts.

💵 Financial Wellness Tip 💵

Have you found that your income is near its peak potential, and yet you’re still not sure where the money is going or what to do with the surplus? Do you have cash piling up in your checking account because you don't have the time to figure out where else to direct it? Are finances a source of confusion or even conflict in your marriage?

• Check out our free budgeting guide for mid-career doctors!

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP® at shane@prosperousdoc.com or on Twitter.

Compliance code: CRN202609-5075397

In his previous interview, Kevin explained how dentists have more choices than ever for a financial exit from their practice and the importance of evaluating multiple DSOs before committing to a deal. Now, Kevin returns to the Prosperous Doc® podcast to unpack common industry jargon so every dentist can have an informed conversation about private equity and corporate-owned dentistry.

In the early 2000s, only dentists were interested in buying dental practices. Now that DSOs backed by private equity have created a more competitive market for dental practices, demand outweighs the supply, driving up prices. Dentists today have an unprecedented opportunity to secure their financial futures — but the devil is in the details. Without understanding the terminology of a DSO’s offer, dentists could end up locked into an unfavorable deal that saddles them with too much risk.

“Where you actually realize the value from the sale of your business,” Kevin explains, “is in the enterprise value and how that enterprise value is received through structure. And the structure is made up of a couple of key components.”

What are those key components? Kevin joins host Shane Tenny, CFP® to define nine terms related to selling your dental practice  that every dentist should know. From EBITDA to joint venture and holdco equity, Kevin puts economic concepts in layman’s terms so dentists can be prepared before they even start the conversation. .

💡 Featured Guest 💡

Name: Kevin Cumbus

What he does: Kevin is the founder and president of TUSK Partners, an M&A firm that exclusively represents sellers in transactions with DSOs. He has valued and sold over 120 dental practices, managed over $100MM of revenue in a DSO, and is the co-owner of a startup dental practice, Mundo Dentistry.

Company: TUSK Partners

Words of wisdom: “We encourage folks, especially around retirement planning, to think about that cash at close as being the linchpin or the victory lap to your retirement. But do not sell your largest income-producing asset without knowing that the cash at close is going to get you to financial independence.”

Connect: LinkedIn

💰 On the Money 💰

Top takeaways from this episode 

• Valuations are higher than they were in the past. Twenty years ago, dentists had fewer options for selling their practices. Now, there’s more demand from private equity groups via DSOs. With higher numbers on the table, dentists may be tempted to sell at the first offer, but it’s prudent to wait.
• Deal structure matters more than multipliers. Someone could offer to buy your practice at 25x its value — but if that deal isn’t structured favorably, you won’t realize a cash payout. Dentists must understand how private equity transactions work.
• Investments are inherently risky. Just like buying a publicly traded stock, holding equity in a dental practice comes with some financial risk. Kevin urges dentists to know a DSO’s leadership team and understand their strategy before agreeing to sell to them.
• Don’t negotiate on your own. DSOs backed by private equity will naturally prioritize their own interests. Kevin advises dentists preparing to sell their practices to be patient, do their research, and partner with an advocate who can help them structure a deal that leads to financial independence. 

⚡ Prosperous Insights ⚡ 

[02:38] Who’s buying?: The marketplace has changed in the past 20 years. Kevin explains the differences between selling a practice to a dentist and selling it to a DSO.

[04:42] Think like Wall Street: DSOs set valuations based on EBITDA. Kevin and Shane break down the significance of “earnings before interest, taxes, depreciation and amortization.”

[07:37] X-men: Corporate dentistry often talks about multiples — offering 5x your EBITDA, for example — but Kevin cautions against overemphasizing the multiple and forgetting about structure. 

[10:05] Structure is everything: An unfavorable deal structure can leave dentists in the lurch. Kevin introduces three common tools for structure and explains how private equity works, noting that each state has different regulations for DSOs. 

[17:40] Good debt vs. bad debt: Private equity groups want to invest in a diverse portfolio of businesses while accessing their cash quickly. What’s advantageous to the private equity buyer may not be in the best interest of the dentist selling their practice.

[20:36] Cash, JV equity, and holdco equity: Every dentist looking to sell must know these three terms. Cash is the money that hits your checking account once the practice is sold, but what are the types of equity? Kevin explains how they work and the risks involved.

[26:00] The second bite of the apple: Monetizing your rolled equity is supposed to be a second big payout, but it’s vital to know the leadership team of the DSO and their investment strategy to feel confident in your return.

[28:44] Seller beware: There are millions of dollars at stake in a rolled equity deal. Dentists should be careful who they partner with.

[30:31] Words of wisdom: Be patient, read as much as you can, and talk to a trusted advisor before making a decision to sell. Don’t go up against a private equity firm alone. Kevin invites listeners to contact TUSK Partners to learn more.

💵 Financial Wellness Tip 💵

Understanding where your cash flow is going every month is essential to creating an actionable plan for your financial goals. Use our monthly cash flow worksheet to give you clarity about where your money is going and help you create a budget.

• Get our personal cash flow worksheet.

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

Compliance code: CRN202608-4945833

Kevin is the founder and president of TUSK Partners, a firm that specializes in selling successful dental practices to dental support organizations (DSOs). TUSK has closed $850 million of deals in the past seven years, and Kevin wants every dentist in independent practice to know they have options.

Many dentists have only heard outdated advice from a financial planner about how and when to sell a practice, leading them to bite too early when they receive their first offer from an interested DSO. “I felt like there was too much value being left on the table for dentists and underrepresented groups,” Kevin says. TUSK exists to help hardworking dentists realize the full value of the practices they’ve given their lives to build.

The DSO landscape is ever-evolving, and rising interest rates have directly impacted the deal structures DSOs most commonly offer. To explain what’s happening and what dentists can do about it, Kevin joins the Prosperous Doc® podcast. Host Shane Tenny, CFP® presses into the history of DSOs and what’s changed since the pandemic. Dentists have more options than ever, but they should be careful to choose the right partner.

“Who you partner with really, really matters,” Kevin explains. “You will certainly be rolling equity into their business.” That equity could secure financial independence, but a bad deal could postpone a dentist’s retirement.

💡 Featured Guest 💡

Name: Kevin Cumbus

What he does: Kevin is the founder and president of TUSK Partners, an M&A firm that exclusively represents sellers in transactions with DSOs. He has valued and sold over 120 dental practices, managed over $100MM of revenue in a DSO, and is the co-owner of a startup dental practice, Mundo Dentistry.

Company: TUSK Partners

Words of wisdom: “Today, there is more opportunity, more buyers for dental practices than there ever have been. And that's a really good thing if you own a dental practice because you have more options than you've ever had … I would encourage everyone to at least get the information about what their practice would be worth in an exit to a DSO compared to an exit to a dentist so they can make an informed decision.”

Connect: LinkedIn

⚡ Prosperous Insights ⚡

[02:14] Family dentistry full circle: Kevin’s father is a pediatric dentist. After Kevin’s own career in finance and investment banking, he found himself back in the dental world, this time with a new perspective. TUSK now helps dentists understand the value of their practice and prepare for an exit.

[07:32] Life before DSOs: Just 15 years ago, there weren’t many options for dentists looking to retire. Unless a dental school graduate came along to buy it, many had no choice but to close up shop and get no value for their practice.

[10:19] Addressing the need: Early DSOs such as Heartland Dental solved two big problems in the industry. Not only did retiring dentists have an exit path, but new associates now had an easier time finding work. Kevin explains how these benefits unfolded.

[13:56] The rise of corporate dentistry: Today, more than 150 DSOs exist in America. Kevin says they vary across culture, operational efficiency, and — most importantly — how they structure equity deals for dentists.

[15:58] The legal fine print: A DSO is a “regulatory-compliant structure that allows non-dentists to enjoy cash flow from clinical operations.” Kevin explains why this definition matters.

[19:22] Supply and demand favors the dentist: The dental industry has become more consolidated in the last few years. Even with rising interest rates, Kevin’s firm has still seen an increase in valuations for dental practices because the demand is so high.

[22:17] Let’s make a deal: From EBITDA to closing costs and equity, Kevin breaks down all the financial components of a deal structure using real-world examples. “Structure is so important,” he says. “It drives the total lifetime value of the transaction.”

[30:05] What to do when you get a knock on the door: Kevin shares his advice for dentists who’ve received an offer from a DSO. It’s tempting to take it right away, but a valuation could go much higher with the proper preparation. 

[32:59] Choose the right partner: TUSK helps clients make informed decisions about partnerships with DSOs. There are dozens of pathways forward. The doctors unhappy after close are the ones who didn’t do their financial planning upfront.

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@prosperousdoc.com or on Twitter.

Compliance code: CRN202608-4844427

In this episode of the Prosperous Doc®, our host Shane Tenny, CFP® welcomes Dr. Carlos M. Moretta to discuss his medical missionary work, the way his worldview has changed, what inspires him to continue his work, and why he encourages others to take part in a medical mission.

Tune in to hear some stories from Dr. Moretta’s most memorable missions and what he learned along the way.

💡 Featured Guest 💡

Name: Dr. Carlos M. Moretta

What he does: Having been board-certified by the American Board of Oral and Maxillofacial Surgeons, Dr. Moretta has maintained a faculty position at Loma Linda University School of Dentistry, where he practices in the graduate oral and maxillofacial surgical clinic.

Company: Loma Linda University School of Dentistry

Connect: Website

⚡ Prosperous Insights ⚡

[02:32] An odd start: Sometimes, the biggest mistakes yield the greatest outcomes. This is exactly how Dr. Moretta ended up enrolled in a dental hygienist program.

[08:44] Enriching: These medical missions not only add value to your CV but add to your quality of life as well. They enrich your career and your life. 

[16:38] Pure gratitude: When working in remote villages across the world, Dr. Moretta is always appreciative of the pure, genuine gratitude his patients express. Without medical missions, many of his patients would never receive the type of care he provides. 

[24:00] Big realizations: Throughout his travels around the world, Dr. Moretta is constantly reminded of one major thing: we are all more alike than we are different. 

[29:57] Always a lesson: No matter the equipment or medical space available in different parts of the world, there is always a lesson to be learned. Dr. Moretta acknowledges that his Westernized medicine doesn’t make him better than other surgeons he comes across doing their best with what they have. 

[39:45] Getting started: Dr. Moretta shares some ways for others to get started in this type of missionary work, such as ADA Service Projects and Mission of Mercy. 

[40:56] Impactful people: Many people come to mind when Dr. Moretta reflects on all the positive forces that have gotten him to where he is today. He mentions Dr. Stephen Waterbrook, Dr. Ken Pearson, and Dr. Paul D. Huynh, MD. 

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@prosperousdoc.com or on Twitter.

Compliance code: CRN202607-4718335

In this episode of the Prosperous Doc®, our host Shane Tenny, CFP®, welcomes Dr. Harvey Castro to discuss the future of AI and Chat GPT in healthcare and medicine. Dr. Castro walks listeners through his own entrepreneurial experience within the healthcare sector and how he foresees AI being used to provide quality healthcare for patients.

💡 Featured Guest 💡

Name: Dr. Harvey Castro

What he does: Dr. Castro is a physician, healthcare consultant, former CEO, and serial entrepreneur with extensive experience in the healthcare industry. He is also the author of the "Chat GPT Healthcare” books and creator of multiple healthcare apps. Dr. Castro hopes to improve and increase awareness of digital health and implement positive changes in the healthcare field. 

Connect: Website | LinkedIn | Twitter

⚡ Prosperous Insights ⚡

[02:07] Tech differences: Dr. Castro walks listeners through the differences between Chat GPT and Google, with a useful analogy.  

[03:21] Fact check: The term “AI Hallucination” refers to a confident response by an AI that does not seem to be justified by its data, either because it is insufficient, biased or too specialized. Therefore, users should always double check the information they get from Chat GPT.

[04:02] Not so new: Although it has been getting a lot of news coverage in the last few months, AI isn’t entirely new. Dr. Castro gives examples of how AI has been in existence for a long time. 

[08:07] Use it wisely: Dr. Castro discusses how he used Chat GPT and prompt engineering to help outline his books.

[13:39] Bio vs. Chat: While Chat GPT has been fed information on all sorts of different topics, Bio GPT strictly has medical information and should, therefore, be able to provide more accurate answers. 

[22:59] Crossroads ahead: Dr. Castro goes over what he foresees as some ethical challenges or considerations in the crossroads of AI and healthcare — for instance, bias in Chat GPT.

[27:18] The wrap-up: Here are some key takeaways Dr. Castro hopes listeners will walk away with. Interested listeners can head to AI.com to try out Chat GPT.

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

Compliance code: CRN202606-4515487

Tom Loeblein, President and CEO of Healthcare Management Consultants and The Dental CFO, dedicates his career to building a strong culture within practices. He shares his insights on this episode of Prosperous Doc®, including why skills aren’t the only thing to look for when hiring. 

Creating a positive work environment that motivates and engages employees is crucial to delivering world-class care and providing positive patient experiences — investing in your team’s well-being is an investment in your patients (and your practice).

By implementing Tom’s strategies, practice owners can attract and retain top talent and achieve long-term success. 

💡 Featured Guest 💡

Name: Thomas (Tom) R. Loeblein, CHBC, CFP®️

What he does: While his official title at The Dental CFO is President and CEO, Tom’s real title is “Visionary.” Tom sets the organization’s vision, creates and maintains the company’s culture, and builds relationships with clients and stakeholders. 

In addition to his work with The Dental CFO, Tom serves as President/CEO of Healthcare Management Consultants, Inc. Tom is a Certified Healthcare Business Consultant, a Charter Member of the National Society of Certified Healthcare Business Consultants, a Kolbe Certified Consultant, and a Certified Financial Planner Professional. He is a graduate of the U.S. Naval Academy and a retired Lieutenant Colonel in the U.S. Marine Corps Reserve.

Companies: Healthcare Management Consultants | The Dental CFO

Connect: LinkedIn

⚡ Prosperous Insights ⚡

[00:32] Don’t discount company culture: Tom discusses the importance of company culture in medical and dental practices and how it impacts their success.

[03:58] Smart v. healthy organizations: An unhealthy culture can lead to turnover and a decline in success.

[11:21] Visioning: Shane and Tom discuss the importance of having a vision for your practice and how it can help engage team members and attract top talent.

[14:45] Enabling growth: Putting team members in the right seats and helping them grow professionally keeps them engaged and motivated.

[22:13] The Three Parts of the Mind in Hiring: Tom explains the three parts of the mind that are important to consider when hiring: cognitive, affective, and how the individual goes about working.

[25:54] Know yourself (and your practice): Core values that are unique — and truly represent your organization — make leadership and culture-building easier. 

[28:37] Your team needs a good fight: Organizations need to understand the essence of fighting fair.

[33:22] Learn to fight fair: Tom suggests reading work by Patrick Lencioni to gain insight into how to improve the health of your organization.  

[36:33] Special shoutout: Dan Dagenhart founded Tom’s firm, Healthcare Management Consultants, in 1966.

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP® at shane@whitecoatwell.com or on Twitter.

Compliance code: CRN202604-4254350

Anu has expertise in medical employment contracts, partnership agreements, and other practice-related business matters — making her the perfect guest to discuss the FTC and potential changes to healthcare workers’ rights on this episode of Prosperous Doc. 

Earlier this year, the Federal Trade Commission proposed a new rule that would effectively ban employers from using noncompete clauses.

If you're in the health care, dentistry, or medicine sector, you know that these noncompete clauses are part of many employment contracts, often accompanied by negotiated “restrictive covenants.”  

The FTC claims these non-compete clauses suppress wages, hinder innovation, and prevent entrepreneurs from starting new businesses. The ban aims to force wage increases in the industry and expand career opportunities.

Tune in to this episode to hear Shane and Anu talk about all things noncompetes, as well as a ban’s potential impact. 

💡 Featured Guest 💡

Name: Anu Murthy, Esq. 

What she does: Anu is a healthcare attorney and practice consultant who exclusively focuses on physician, dentist, and advanced care practitioner employment contracts, partnership agreements, and other practice-related business matters.

Company: Knowledgeable Aging

Words of wisdom: “I am telling my clients to disregard the proposed rule for the time being. It is not going to give you any clout or any power in negotiating at the moment [...] I would recommend that they seek legal counsel just to make sure that the employer is following the rule to the letter.”

Connect: LinkedIn | Website

⚡ Prosperous Insights ⚡

[03:27] The proposition: Anu takes listeners through a brief history of the FTC’s proposed ban, with a focus on the impact this has had, and will continue to have, on healthcare providers. 

[05:36] A long way back: Anu discusses how noncompetes came into existence, which dates all the way back to England in 1440. 

[07:26] Independents included: The proposed rule not only includes W2 workers but independent contractors on 1099s, as well. 

[13:41] Different perspectives: Anu discusses the ban from the perspective of several groups — including providers, the American Hospitals Association (AHA) and the American Medical Association (AMA).

[18:47] Advice: Currently, Anu advises an employee negotiating a new contract to ignore the proposed rule and instead seek legal counsel to ensure employers are following all current rules. 

[21:20] The outlook: This new rule proposed by the FTC is something that has never been done before. If it were to pass, it would affect more than 30 million Americans with non-competes clauses in their employment contracts.  

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

Compliance code: CRN202604-4254280

31% of physicians felt prepared to network, while only 9% felt ready to negotiate. It wasn’t just first-time attending doctors who felt that way — doctors seeking raises were also affected. 

It’s no wonder so many doctors feel anxious when few receive any training in contract negotiations.

But physicians shouldn't settle for less, says Ethan A. Nkana, Principle at the Rocky Mountain Physician Agency (RMPA), which advocates for doctors seeking fair contracts and compensation.

Having an advocate like Ethan helps in certain high-level situations, but you don’t necessarily have to hire an advocate to get what you want. In this episode of Prosperous Doc, Ethan talks with host Shane Tenny about everything you need to know about contract negotiations, whether you’re a graduating resident or an experienced physician. 

💡 Featured Guest 💡

Name: Ethan A. Nkana, J.D., MBA

What he does: Ethan began his hospital administration journey as a Human Resources intern later expanding his skill set to hospital finance, physician contracting and compensation, hospital operations, and healthcare strategy. While working in physician contracting, Ethan observed that physicians frequently leave money and value on the table during their contract and salary negotiations.

Company: Rocky Mountain Physician Agency 

Words of wisdom: “If I could give one piece of advice to first-time attendings that would really help give them the best chance for success: get more than one offer.”

Connect: LinkedIn | Instagram

⚡ Prosperous Insights ⚡

[02:21] Doctors need an advocate: Most people tend to think of doctors as high earners, but in reality, not all of them are.

[04:14] Get more than one offer: Ethan offers an important piece of advice for first-time attending physicians: getting more than one offer improves your negotiating position by giving you more control.

[09:55] Everything is negotiable: Health insurance packages might not be negotiable, but most other things are. He discusses the three negotiable parts of compensation.

[13:39] Student loan forgiveness: Student loan debt is a top concern for new physicians, some of whom have six figures worth of debt.

[17:34] Get the numbers: It’s important for doctors to understand how salary ranges differ according to region and care setting. Some websites you can find this data are Medscape, Doximity, Physicians Thrive, and Merritt Hawkins. Data can also be purchased through Sullivan Cotter and MGMA.

[27:14] Stark Law isn’t an excuse: Employers may use the Stark Law as an excuse to not increase a doctor’s salary. Ethan explains why this is “a bluff.”

[35:42] A painless process: Hiring an advocate as a new physician with mountains of student debt can be daunting, but RMPA only gets paid based on performance.

[39:28] Shoutouts: Ethan gives a shoutout to his mom and to Dr. Mark McKenzie, a doctor who helped develop the COVID-19 vaccine, but who also advised Ethan when he started the business.

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

Compliance code: CRN202603-3989571

In this episode of the Prosperous Doc®, our host Shane Tenny, CFP® welcomes Beth Lachance, CEO of REVA Global Medical, to discuss how she became one of the leaders in the virtual professional evolution in medicine.

From front desk and clerical work to back-end insurance dealings and accounting needs, the medical virtual professionals at REVA are alleviating the stress caused by a low supply of healthcare employees. REVA prioritizes forming true partnerships with practices and physicians. Their interest is not in replacing existing personnel nor outsourcing jobs, but in creating the capacity to do more and better work.

💡 Featured Guest 💡

Name: Beth Lachance

What she does: Beth is leading REVA Global Medical in vision and the day-to-day business operations securing the functionality of the business to drive extensive and sustainable growth. Combining her strong leadership and determination with her 16 years of experience as a business owner specializing in real estate project management and investing with Hat Trick Holding, LLC, and over 22 years of corporate experience in the private and public sector of surgical device, pharmaceutical, and specialty pharmacy industries — she keeps the company moving forward with high-level strategy while understanding the details of day-to-day execution to ensure steadfast success.

Company: REVA Global Medical 

Words of wisdom: “We are an enhancement to the practice and to the medical staff that's already there in place, because they're overwhelmed and they need to figure out a way of trying to get some of the heavy lifting off of their plates, so that they can be more present with the patients that are there in the practice.”

Connect: LinkedIn

⚡ Prosperous Insights ⚡

[02:28] Defining a new role: A medical virtual assistant can do any number of tasks, including front desk triage, new patient intakes, insurance verifications, prior authorizations, background billing, fax review, and data entry into the EMR. 

[13:19] High quality: All medical virtual assistants must be HIPAA-certified, have a background in healthcare — whether they graduated with a four-year degree in nursing or worked at an insurance company — and know and truly understand how insurance works in the United States.

[24:42] A good fit: REVA Global looks for partner practices that know what their pain points are, where their needs are, and how they can support a virtual staff. The practice should also have basic use of technology.

[27:19] The big 3: REVA Global is most commonly asked to staff three main departments with medical virtual professionals — the front desk, insurance prior authorizations, and the accounts receivable and billing department.

[34:29] A solid team: Beth credits much of the company’s success to her incredible team at REVA Global Medical, both domestically and abroad.

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

Compliance code: CRN202602-3932329

So, he switched gears to work in medical education, and that became a salvation for him, giving him a new purpose.

This led him to start his podcast, Stimulus, and spend a year getting his certification from a coaching academy. Dr. Orman is now a certified executive coach, and he dedicates his time to helping physicians develop strategies to live and work with intent, creatively solve problems, and practice self-compassion.

Tune in to this episode of the Prosperous Doc® to hear our host Shane Tenny, CFP®, chat with Dr. Orman about the true meaning of grit and how physicians can still have it while being gentler with themselves.

💡 Featured Guest 💡

Name: Dr. Rob Orman, MD

What he does: As a certified executive coach, Dr. Orman helps physicians build resilience within their medical practices. He worked as a community emergency physician for 20 years and now works as a physician coach. Dr. Orman is a multiple award-winning lecturer, the former chief editor of EM:RAP, and creator of the Stimulus and ERcast podcasts. 

Company: Orman Physician Coaching

Connect: Website | Twitter | LinkedIn | Podcast  

⚡ Prosperous Insights ⚡

[02:34] The great burnout: Dr. Orman recounts the multiple burnouts he experienced while practicing medicine and how they led him to pursue a different career. 

[10:48] No longer drowning: Finding purpose and meaning in his work, saved Dr. Orman from feeling defeated and as if he was drowning in his profession. 

[16:20] Pivot and adjust: Facing defeat and failure can open up unforeseen or unconsidered problem-solving strategies.

[26:20] Relearning to think: Dr. Orman discusses the power in learning how to think and process stress and self-awareness differently and learning to process anxiety and burnout differently.

[30:14] Silence that inner critic: When things might not be going according to plan or living up to certain standards, that inner critic might get louder.

[34:38] More listening: Shane and Dr. Orman share their admiration for an episode of the Prosperous Doc podcast with Dr. Joseph Stern, who talked about self-compassion.

[35:17] Big players: Dr. Orman acknowledges a family friend Lenny Wineglass, for taking him under his wing; his late mentor at Emory, Ken Walker; an attending Dr. Lee Shockley; his brother, Rich Orman; and his coaching partner and friend Dr. Scott Weingart as all having had monumental influence on him.

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

Compliance code: CRN202602-3877010

Dr. Shenvi is no stranger to the challenge of time management. Having earned a PhD, MD and executive MBA, she was using timeboxing and other techniques before there was a name for them.

After coaching medical students for their exams, Dr. Shenvi realized that much of that success came down to how students manage their time. She then spent several years deep diving into psychology literature on procrastination, goal setting, and motivation and began incorporating this knowledge into her lectures. After working with students for a number of years, Dr. Shenvi started to speak on this topic to her colleagues - the medical school faculty. And she would get an overwhelming response that it really resonated with people.

In this episode of the Prosperous Doc®, our host Shane Tenny, CFP®, chats with Dr. Shenvi about how practicing better time management can lead to more fulfilling lives for busy professionals. 

💡 Featured Guest 💡

Name: Dr. Christina Shenvi, MD, Ph.D., MBA

What she does: Dr. Shenvi is a practicing emergency physician, educator, keynote speaker, and leader. She created Time for Your Life in hopes of helping busy professionals reduce their stress levels and feel more fulfilled by better managing their time.

Company: Time for Your Life 

Words of wisdom: “How you manage your time is really about how you manage your own mind.”

Connect: Website | Twitter | LinkedIn  

⚡ Prosperous Insights ⚡

[02:03] A nonrenewable resource: Unlike money, which can be earned, spent, and reacquired, you can never get your time back.

[04:39] Time and effort: Dr. Shenvi compares making life changes to making bread. “You really need the time, the energy, the effort — yourself, or with a coach, or within a structure — to work that yeast into the dough.” 

[15:35] Your true self: One of the key elements to mastering time management is looking inward and evaluating your priorities and values.

[21:04] Life’s what you make it: As with most things in life, time will not just be handed to you.

[23:00] Psychology literature: When she first became interested in the topic of time management, Dr. Shenvi did a deep dive into psychology literature, such as Cal Newport’s Deep Work and A World Without Email, as well as the book The Four Disciplines of Execution.

[36:42] Additional reading: Dr. Shenvi recommends Laura Vanderkam’s Tranquility by Tuesday, which lays out 9 tips for leading a less stressful lifestyle, while host Shane suggests listeners read The Seven Habits of Highly Effective People by Stephen Covey.

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

Compliance code: CRN202601-3786623

Ben Shaver is a certified leadership coach and a business consultant working with medical and dental practices on organizational development, recruiting, and branding.  

In this episode of the Prosperous Doc®, host Shane Tenny, CFP®, asks the questions you want answers to if you’re considering buying your own practice or struggling with attracting the type of team you need to be successful. 

💡 Featured Guest 💡

Name: Ben Shaver

What he does: Ben Shaver is a certified leadership coach and business consultant. He works primarily with medical and dental practices helping them with organizational development, recruiting, and branding. His core program The Leader Brand™ helps clients turn from managers to leaders by flipping the organizational chart and focusing on the consumer first.

Company: Venture Practices

Words of wisdom: “If you really create a brand people want to be a part of, then you're going to win because they're going to see that and engage with it.”

Connect: Website | LinkedIn | YouTube 

⚡ Prosperous Insights ⚡

[02:29] Flip the org chart upside down: Ben explains how he approaches leadership training from the consumer or patient first.

[06:07] Look, act and feel: Consistency is key. If you want to look professional, act organized, and feel trusted, then you need to model those behaviors every single day. 

[08:31] Cynics, contributors, committed, and champions: There are four different types of team members you might find in your organization.

[14:32] A proficient and passionate team: Ben uses task filters from leadership professional Michael Hyatt to find holes in systems and processes that need addressing. 

[21:28] Using DiSC assessments: Ben reviews how different personality types can complement each other and cause conflict.

[24:50] You have to be unique in your approach: Helping people identify what they are drawn to is an important part of creating a path for their training and company processes.

[31:10] Everyone needs a business coach: Ben gives a shout-out to his business coach, Harvey Smith, for everything he has done for him over the years.

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

Compliance code: CRN202512-3477621

In this episode of the Prosperous Doc®, our host Shane Tenny, CFP® talks to Dr. Cindy Tsai about the root of perfectionism, the connection between perfectionist-induced stress and physical symptoms, and how to overcome this chronic belief system.

Dr. Tsai discusses her own experiences with illness as a result of perfectionism’s toll on her body, as well as the work she has done to overcome it. In her self-help book “So Much Better,” Dr. Tsai outlines the key three pillars to overcome perfectionism: calm, confidence and curiosity. 

“It’s a resource and guide that I wish I had years ago, because in my own journey, I realized that there were so many other modalities and techniques and practices that can be very helpful and transformative,” says Dr. Tsai of her book. “These are skills that anyone can learn and master. And so that's really the intention behind it.”

💡 Featured Guest 💡

Name: Dr. Cindy Tsai 

What she does: Dr. Cindy Tsai is a board-certified internal medicine physician in San Diego, CA. She is also a life coach, a TEDx and keynote speaker, and the author of the self-help book “So Much Better.” 

Words of wisdom: “It is so important and helpful to reframe that perspective, so that you're not thinking that if you don't get it right or perfect, you're not good enough.”

Connect: Website | LinkedIn | Twitter | Instagram   

⚡ Prosperous Insights ⚡

[03:08] Defining the enemy: According to Dr. Tsai, perfectionism can be defined as the unwillingness to accept anything less than extremely high levels of standards and performance. It’s the need to be the best in all areas of life. 

[04:42] Practice makes perfect(tionism): This unhealthy ideal is lauded in society as a way of life. Perfectionism is bred from the fear of failure, inadequacy, and disappointing others.

[08:17] Physical symptoms of stress: Dr. Tsai came to develop physical symptoms, such as blurred vision, from the stress of her perfectionist tendencies while in her medical training. It made her pause and consider the deeper cause for her symptoms.

[17:25] Redefining self care: Dr. Tsai’s book “So Much Better,” which is based in mindfulness, provides different tools and techniques for readers to master calm, confidence, and curiosity to overcome debilitating perfectionism. 

[24:24] Looking within: In order to successfully become a “recovering perfectionist,” Dr. Tsai urges listeners and readers to really do the work within.

[26:41] Other self-help leaders: Thought leader Brené Brown’s “Gifts of Imperfection” and Kristin Neff’s books on self-compassion influenced Dr. Tsai and showed her the value of vulnerability and being forgiving with oneself.  

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

Compliance code: CRN202510-3257470

In this episode of the Prosperous Doc®, our host Shane Tenny, CFP® talks to Dr. Zed Zha, MD about her work in a rural eastern Washington State farming community of 8,500, where the predominant population is made up of Spanish-speaking and Indigenous-speaking residents. Dr. Zha talks about building trust with her patients, who are mostly immigrants and/or undocumented workers. Her own experiences as an immigrant prepared her empathy toward and understanding of the population she serves. 

💡 Featured Guest 💡

Name: Dr. Zed Zha, MD

What he does: Dr. Zed Zha is a board-certified primary care physician offering obstetrics and hospital medicine in rural Washington state, where she is also a clinical instructor for the University of Washington School of Medicine. 

Company: Columbia Basin Health Association

Connect: Website | LinkedIn | Twitter   

⚡ Prosperous Insights ⚡

[07:40] Bilingual business: Nearly all of the medical assistants and staff at Dr. Zha’s rural Washington clinic are bilingual.

[11:19] A dying breed: Current trends indicate a coming physician shortage over the next couple of decades, which will particularly affect country doctors. Dr. Zha argues for the importance of more rotations in medical school and residencies and reversing misconceptions about primary and rural care. 

[18:27] COVID-19 task force: Dr. Zha hails from Beijing, China and always kept a close watch on current events there, which allowed her to be privy to COVID-19 and its spread before the pandemic spread to America.

[22:34] Outreach: Dr. Zha, along with her colleague Dr. Jude Alsarraj, took action to inform non-English-speaking community members about the risks and safety measures of COVID-19 by creating accessible media in their own native languages.

[26:22] Work in progress: Along with co-author Chloe Ackerman, PsyD (and the helpful guidance of her literary agent, Kathryn Willms), Dr. Zha is currently working on her first book, “Essential: A Chinese Doctor on Rural America’s Pandemic Frontline,” which chronicles Dr. Zha’s work as a full-scope family doctor in rural America during the pandemic. 

[29:53] Social justice: Without health equity, there is little to say about health care, as it is a human right that is unequally allocated in America.

[37:08] Shout-outs: Dr. Zha gives thanks and credit to the many people who helped her achieve her goals: Dr. Cathleen E. Morrow, MD, Dr. James Withers, MD, FACP, Dr. Dennis Costakos, MD, her attendees at Mayo Clinic La Crosse, and Dr. Richard P. Usatine, MD, FAAFP. 

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

Compliance code: CRN202507-2719247

In this episode of the Prosperous Doc®, our host Shane Tenny, CFP®, talks to Melissa about her work as a career coach, specifically in the realm of healthcare, medical, and science professionals. Melissa says that what draws her to this work is her ardent belief that everyone deserves to be in a job that uses their best and favorite skills, compensates them well, and gives them the time and energy to enjoy life outside of work.

💡 Featured Guest 💡

Name: Melissa McClung, M.S.

What he does: Melissa is a Professional Career Advisor and Owner at Life by Design Careers. She specializes in career coaching for healthcare, medicine, and science professionals, helping them figure out the next step on their career paths.  

Company: Life by Design Careers

Words of wisdom: “Ultimately, what we have to realize is that, as human beings, we have to grow in competency over time, and we need to look for ways to build that into our career journey so that we can stay fulfilled and stay true to that mission [that is] uniquely for ourselves.”

Connect: Email | LinkedIn 

⚡ Prosperous Insights ⚡

[06:26] Fatigue to fulfill: Shane discusses Melissa’s book, Mind Your Career: Job Search Like an Entrepreneur Without Becoming One, which talks about the reality of burnout and shifting from career fatigue to finding fulfillment. 

[08:29] Grow and change: Melissa believes it is part of human nature to yearn for growth and change. Her line of work allows her to help people find work that challenges them and keeps them engaged.

[10:40] Common denominator: When healthcare professionals come to Melissa seeking a career change despite the years of schooling and training they’ve put into their career, it is often because they feel they can no longer give enough time and attention to important things outside of work, such as family, health and passions. 

[12:32] Telling stories: Researcher Brené Brown talks about the “stories we tell ourselves,” which Melissa references in her book and her work. She asks clients who feel stuck or like they could never find a new job to rewrite their own story.  

[20:34] Start with the basics: One of the most common mistakes Melissa sees in her line of work is people thinking they need to hire someone to rewrite their resume when they haven’t decided on a specific job they are trying to target. 

[25:04] No burnt bridges: Melissa reassures her clients that searching for and starting a new career doesn’t damage the path they have already forged. She is not in the business of burning bridges but rather creating new ones for professionals to more openly navigate their own career. 

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

Compliance code: CRN202507-2643038

This dissonance often creates long-term emotional distress. To counteract this, Dr. Dael Waxman focuses on improving physician well-being. 

In this episode of the Prosperous Doc®, our host Shane Tenny, CFP® invites Dr. Waxman to discuss the importance of physician well-being and his journey from clinician to physician well-being coach. Dr. Waxman gives strategies for improving physicians’ quality of life. Additionally, he reveals that an accidental presentation sparked his passion for burnout prevention while strangers’ stories strengthened it. 

💡 Featured Guest 💡

Name: Dr. Dael Waxman

What he does: A physician and educator for over 35 years, Dr. Waxman is a recently retired professor of family medicine at Atrium Health and founder of Dael Waxman, MD Coaching and Consulting, and an Executive Coach at MD Coaches. Since 2010, he has focused on promoting physician well-being and preventing physician burnout.

Company: Dael Waxman, MD Coaching and Consulting

Connect: LinkedIn 

⚡ Prosperous Insights ⚡

[04:02] Finding passion through interaction: Dr. Waxman’s passion for preventing physician burnout began with conversations with other healthcare providers after his presentations on burnout.

[05:05] Wellness vs. well-being: As Dr. Waxman explains, although wellness and well-being are often used interchangeably, there is a difference between the two.

[10:42] Your well-being matters, so nurture it: Dr. Waxman often uses the PERMA positive psychology model to help his clients improve their well-being. PERMA stands for positive emotions, engagement, relationships, meaning, and achievements.

[14:44] Clarity from COVID-19: COVID-19 has had a devastating effect on medical providers and has worsened burnout. However, now people are beginning to recognize that working constantly is unsustainable because people got cut off from each other and cut off from the things that give them a sense of joy, meaning, and purpose,” explains Dr. Waxman.  

[17:56] Take time for yourself: You have to be able to enjoy your own life to help others. Set time aside for what is important to you and communicate your needs with your team.

[22:28] Driven by the system: When burnout was first recognized, Dr. Christina Maslach found that most causes of burnout were individual but now problems are mostly systematic. To learn more about the frustrations of burnout, listen to Podcast Episode 12 | Behind Physician Burnout with Dr. Dike Drummond. 

[26:00] Fixing the system: Burnout on the organizational level is often caused by a lack of flexibility, lack of community, and lack of recognition and other root causes as focused on in Podcast Episode 49 | Rethinking Burnout and Why it is Important to Address it at the Organizational Level with Dr. Paula Davis. Dr. Waxman cites Dr. Tait Shanafelt, who says that organizations need to focus on the main source of burnout in their organization, rather than trying to address every cause of burnout.

[35:41] Skills of tomorrow: For the next generation of physicians to thrive, they will need to learn how to care for themselves, in addition to caring for others. 

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

Compliance code: CRN202506-2527093

In this episode of the Prosperous Doc®, our host Shane Tenny, CFP® welcomes Dr. Fariha Abbasi-Feinberg, one of the foremost experts on sleep and the Medical Director of Sleep Medicine for Millennium Physician Group, to discuss how sleep impacts health, memory, and how COVID has impacted an entire country’s sleep habits. Dr. Abbasi-Feinberg breaks down sleep’s impact on the lymphatic system, metabolism, cognitive abilities, and more. She even discusses the benefits and harms of taking naps.   

💡 Featured Guest 💡

Name: Dr. Fariha Abbasi-Feinberg, M.D., FAASM, FAAN

What she does: As a Board-certified Sleep Medicine Physician, Dr. Abbasi-Feinberg serves on the Board of Directors for the American Academy of Sleep Medicine and is the Medical Director of Sleep Medicine for Millennium Physician Group. She has been interviewed for numerous publications including the Wall Street Journal, The New York Times, Newsweek, and US World Report.

Company: Millennium Physician

Connect: Website | LinkedIn | Twitter

⚡ Prosperous Insights ⚡

[07:00] Steady pace rather than sprint: Dr. Abassi-Feinberg talks about the body’s natural “circadian rhythm.” While naps can sometimes be beneficial, particularly depending on a person’s work schedule, it is still best to aim for long, patterned stretches of sleep rather than short spurts. 

[12:00] COVID-somnia: In July of 2020, the American Academy of Sleep Medicine, conducted a survey that found more than 20% of adults felt their quantity and quality of sleep was less. COVID-somnia is the bucket term used for talking about the negative effects of COVID on sleep.

[16:53] The dream team: Dr. Abbasi-Feinberg says, in order to feel truly refreshed, a combination of both deep sleep and REM sleep is needed. Cycling through the different sleep patterns is essential to waking up feeling rested. 

[18:52] Don’t look: According to Dr. Abbasi-Feinberg, waking up during the night is normal but looking at the clock is what causes issues. Consistently looking at the clock when you wake up actually trains yourself to make that a pattern each night. 

[24:36] Limit light exposure: While light in the morning is great for waking up, limiting light exposure in the evening, especially when winding down, is crucial leading up to a good night’s sleep.

[25:33] Big picture thinking: Some people like to enjoy a night cap or snack before bed. According to Dr. Abbasi-Feinberg, however, both can be disruptive to sleep and cause more awakenings and poorer sleep quality.

[29:45] Getting help: If you are unsure if you need professional help with your sleep, Dr. Abbasi-Feinberg suggests going to SleepEducation.org to assess your needs and find a sleep center near you.  

[31:28] Big thanks: Dr. Abbasi-Feinberg says she owes much thanks for professional guidance to Dr. Susan Esther, who is the past president of the American Academy of Sleep Medicine.

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

Compliance code: CRN202505-2417683

“Appropriate estate planning is truly planning for your estate, meaning planning for the management and disposition of your property, both during your lifetime and upon your passing,” explains Christian Perrin.

In this episode of the Prosperous Doc®, our host Shane Tenny, CFP® welcomes esteemed attorneys Christian Perrin of Perrin Legal and Pete Benenati of Benenati Law Firm, P.C. The three discuss estate planning — what it means, why it is so important, and everything in between. The two attorneys also dive into the benefits of prenups beyond divorce preparation, the differences between executors and powers of attorney, and how to find the best help for you.

“Everybody thinks that just because they have kids or a surviving spouse, it's easy,” Pete explains about the need for estate planning. “It's not really, because there's something known as the termination of heirship. You have to actually prove who the heirs are. A court-appointed attorney has to do the history on the family to confirm what you're telling them. It adds cost, it adds time, it adds expense. And it adds a lot of frustration for people, even in the smaller, simple estates.”

💡 Featured Guests 💡

Name: Christian Perrin, JD

What he does: As an attorney and owner at Perrin Legal in Charlotte, NC, Christian specializes in estate planning, asset protection, and litigating trust and estate disputes. He attributes much of his successful career and long-standing relationships to his passion for advocacy, honesty, and responsiveness to clients.  

Company: Perrin Legal

Words of wisdom: “Estate planning is important. And once you start the process, it's important to stay focused on it because the alternative is really messy.”

Connect: LinkedIn

Name: Pete Benenati, JD

What he does: As an attorney and owner at Benenati Law in Dallas, Texas, Pete mainly focuses on business, tax, and estate planning. Pete is passionate about community involvement and educating local groups on current and pending legal changes that might affect them. 

Company: Benenati Law

Words of Wisdom: “Anytime you get a chance to avoid probate, to make the people you leave behind, their lives easier, you should do it. At least do a will.”

Connect: Pete Benenati -- Benenati Law Firm, P.C.

💰 On the Money 💰

Top takeaways from this episode 

★ Preparing now can make things so much simpler. Estate planning is something nobody wants to talk about. No one wants to think about their own mortality or negatively life-changing events. However, making a plan now will make things so much easier for the client and their loved ones in the event of a bad accident or death. 

★ Cover all your bases. The terminology can be confusing and overwhelming. Hiring an estate planner can make the entire process easier to understand and less foreboding. Ensuring you have everything from a will to a financial power of attorney to a healthcare power of attorney is crucial in making everything flow as smoothly as possible.   

★ Third party trustees are highly recommended. When a parent dies, they might leave one of their children as the trustee of an estate. This type of responsibility can affect not only the assigned child but their relationship with other family members as well. In this case, a third party financial institution or appointment might be the best decision so as not to add more stress and turmoil to an already grieving family.  

⚡ Prosperous Insights ⚡

[05:30] Make people’s lives simpler: Having at least a will can make things so much easier for those left behind after someone passes.  

[07:26] Don’t leave the government to plan for you: Christian discusses how state legislators, depending on the jurisdiction, will step in if there is no will left behind, which will most likely not reflect the true wishes of the deceased.

[11:51] The big three: According to Pete, everyone should have a will, a financial power of attorney, and a healthcare power of attorney. This will make things easier, cheaper, and faster for the people in your life,

[20:13] Write a letter: Pete advises people to leave a handwritten letter of desire about healthcare, in which people can make more specific requests that are not always covered in the legal documents. 

[22:45] Why a trust: Christian explains that trusts might be more preferable for certain clients — those who have a high net worth while they’re alive or when they pass, and those who value privacy. Trusts keep certain information private during the probate process.  

[30:20] Prenups aren’t just for divorce: Pete goes over the ins and outs of prenups, from what they mean to how they operate. Prenups, he says, are not just plans in case of a divorce but plans for a death and the distribution of assets as well. 

[36:13] Find someone within your state: Because each state has its own laws, procedures, and practices, it’s important to choose an attorney within your state to formulate your estate plan.

💵 Financial Wellness Tip 💵

You worked hard to earn your white coat, but what happens if you get sick and can’t work? The truth is that during the course of your career, you are three and a half times more likely to be injured and need disability insurance than you are to die and need life insurance. But disability insurance is nuanced and complex.

Thankfully, the advisors at Spaugh Dameron Tenny have developed the Disability Insurance Guide for Physicians and Dentists, a free ebook outlining the key considerations, benefits, and misconceptions of disability insurance. Protect your family from the consequences of life’s events by protecting your income and securing peace of mind. 

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

Compliance code: CRN202505-2305255

Historically, making new friends isn’t difficult for Dr. Goldbaum. However, with this move, she knew putting herself out there would be key to finding her people. 

“I think we all are very aware, just as with training, you can't always pick [your city]. Sometimes when you're trying to find your first job out of training, you can't always have the choice of location or hospital system you want.” Dr. Goldbaum says. “We just picked up, moved, and hoped for the best. Charlotte is a bigger city compared to some, and it had access to airports, so we knew we could get to family quickly if we were having that itch to go visit them.”

In this episode of the Prosperous Doc®, our host Shane Tenny, CFP®, invites Dr. Goldbaum to explore the important topic of making friends in adulthood. They discuss how to cultivate a professional community for yourself while balancing the needs of a demanding career. 

Dr. Goldbaum also discusses how the idea and need for the Cultivating Resilience Conference first began and shares details for the upcoming event on Saturday, May 14th, 2022 in Charlotte. The conference is the only Charlotte wellness retreat for local women physicians by local women physicians. 

“The goal of this conference is to find out what's meaningful to you, who are the people who are going to support you, and how do you make friends out of this conference too," she says. "I'm telling you, once you find your people, it is such a life-changing experience, and every day just gets easier.”  

💡 Featured Expert 💡

Name: Dr. Stacy Goldbaum

What she does: As a board-certified Internal Medicine physician specializing in Endocrinology, Diabetes, and Metabolism, Dr. Goldbaum serves as an assistant professor in the Department of Medicine at Atrium Health and as the site-based medical director for her office. Before the COVID-19 pandemic, Dr. Goldbaum also hosted monthly get-togethers for local women physicians through the “Women in White Coats: Charlotte” meetup group. She is a contributing writer in the SheMD.org virtual community. 

Company: Atrium Health

Words of wisdom: Stacy Goldbaum: “Once you find your people, it is such a life-changing experience and every day just gets easier.”

Connect: LinkedIn | Twitter   

💰 On the Money 💰

Top takeaways from this episode 

★ Creating your community. As an adult, you won’t always find that your community of friends and family will naturally appear. Dr. Goldbaum found that, after moving to a new city, she had to put herself out there to meet new people. This led her to create a meetup group for women physicians where she could connect with new people monthly. 

★ Discovering the power of coaching. Dr. Goldbaum first discovered coaching through an online course during the pandemic. After she discovered the benefits the course had on her mental health, she didn’t hesitate to commit to creating a retreat for the women in her community. This was how the Cultivating Resilience Conference began. 

★ Learning from others. Creating a conference for women physicians that is put on by women physicians helps create community. Dr. Goldbaum explains that attendees can learn from one another by sharing wisdom gained from their experiences. 

★ See where ideas take you. Dr. Goldbaum never imagined she would be hosting a conference with two friends. Now she has a whole community around her.

⚡ Prosperous Insights ⚡

[04:30] Putting yourself out there: Dr. Goldbaum knew that after moving to a new city she had to commit to putting herself out there if she wanted to make new friends. Having that go-getter mentality is important as you prepare for an upcoming move. 

[07:04] Creating a meetup group: After finding that many of her work colleagues were in different life stages that occupied them on weekends and evenings, Dr. Goldbaum decided to start a meetup group. The group provided a place for women physicians to connect.

[09:54] Personal and professional support: Because the meetup group was created for women physicians, Dr. Goldbaum found both friendship and professional support from the members who attended events. 

[12:19] Pandemic disruptions and pregnancy: In 2020, when the pandemic was new to everyone, Dr. Goldbaum struggled to maintain her community as everything shifted to virtual events. This was compounded by trying to minimize potential exposure to the virus while pregnant. 

[13:07] Re-finding her community: After six months of struggling through virtual events, Dr. Goldbaum discovered a nationwide course called Empowering Women Physicians by Dr. Sunny Smith. Just like that, she found her community again. 

[16:18] How Cultivating Resilience began: It was a desire to help women in her community treat burnout through a day of mindfulness and wellness that first launched Cultivating Resilience. 

[19:45] Health, wealth, and self: Dr. Goldbaum shares the details of her upcoming Cultivating Resilience Conference on May 14th 2022 in Charlotte, NC, where women can take a day for themselves. 

[24:12] Wisdom versus information: Dr. Goldbaum shares a lightbulb moment she had after asking another physician who was late in her career what her biggest regret was. 

[26:25] Creating lightbulb moments: The goal of the conference is to have women walking away with light bulb moments where they feel curious and delighted about the opportunities available to them. 

[32:14] People that do awesome things don’t do them alone: Dr. Goldbaum gives a shout-out to her good friend Dr. Alexandra “Lexie” Mannix, MD for the support she has provided over the years.

💵 Financial Wellness Tip 💵

You worked hard to earn your white coat, but what happens if you get sick and can’t work? The truth is that during the course of your career, you are three and a half times more likely to be injured and need disability insurance than you are to die and need life insurance. But disability insurance is nuanced and complex.

Thankfully, the advisors at Spaugh Dameron Tenny have developed the Disability Insurance Guide for Physicians and Dentists, a free ebook outlining the key considerations, benefits, and misconceptions of disability insurance. Protect your family from the consequences of life’s events by protecting your income and securing peace of mind. 

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

Compliance code: CRN202503-2073497

Part of Dr. Nagappala’s mission has always been to provide healthcare for people who wouldn’t otherwise be able to access it. But unfortunately, in Detroit in particular, there are people who simply aren’t able to get quality healthcare in the area where they live. To Dr. Nagappala, this is unacceptable.

“I always feel the need to provide care for the indigent,” she tells our host Shane Tenny, CFP® in this episode of the Prosperous Doc ®. “Some of the school-based clinics [that I oversee] are in communities where there is a lack of access to care, in terms of transportation and doctors. They have to travel outside of where they live to access these types of services. There is a distinct level of care that they lack.”

The COVID-19 pandemic has further proved the importance of ensuring everyone has access to healthcare and accurate information about science and medicine. Working within the school system has allowed Dr. Nagappala to reach more people.

Dr. Nagappala joins Shane to discuss her experience juggling a part-time family practice with working as a public health policy expert and overseeing dozens of school-based clinics. She also shares her thoughts on what makes public health so important, especially during a pandemic, and what keeps her going in this field even when things get tough.

💡 Featured Expert 💡

Name: Dr. Beena Nagappala, MD, MPH

What she does: Dr. Nagappala is the Medical Director of Community Health for Ascension Southeast Michigan, overseeing nurse practitioners and medical staff at dozens of school-based clinics in the Detroit area. She is also a family medicine physician with Cornerstone Medical Group.

Companies: Ascension, Cornerstone Medical Group

Words of wisdom: “In the last year, [we] have realized how important public health is to our communities. We have to take care of each other so we can serve our community.”

Connect: Website

💰 On the Money 💰

Top takeaways from this episode

★    Having quality healthcare in schools can help improve healthcare equity for all. School-based health clinics provide people with opportunities to access quality healthcare they wouldn’t be able to get otherwise. Dr. Nagappala makes it clear that the care that kids are able to get in school — the place they go every day — can change their lives and make waves in their communities. 

★    The COVID-19 pandemic has changed the public health game. Dr. Nagappala shares her thoughts on why community health has been so important during the pandemic: We need to work together to keep each other safe and healthy.

★    Public health policy is on the rise. Dr. Nagappala believes that increasing awareness of these public health issues will lead to more government response. She explains what kinds of public health policies and laws she wants to see implemented in the future.

★    Find passion in your work. Despite the difficulties, Dr. Nagappala still finds meaning in the work she does. She stresses the importance of going after the things you’re passionate about in order to make real change.

⚡ Prosperous Insights ⚡

[01:56] What public health means: Dr. Nagappala talks about what public health work encompasses, and what specific services she aims to provide to communities.

[02:52] Unequal access to care: The desire to address the racial disparities in healthcare access propelled Dr. Nagappala into public health work.

[06:35] Benefits of state funding: Dr. Nagappala says that getting more state funding for public health in the school system has helped expand important programs in the past several years.

[07:56] Behavioral and mental health on the forefront: The pandemic has increased awareness of the importance of mental health, especially for children who have faced the impacts of school closures. Dr. Nagappala says this is an area people are focusing on more now.

[09:22] Logistics of providing care to children: Dr. Nagappala talks about how providing healthcare to children in schools can be different than working with adults, and the logistics.

[11:28] Combating misinformation: Throughout the COVID-19 pandemic, misinformation about health and medicine has become a big problem. Dr. Nagappala is able to educate kids and parents in the school system.

[16:35] Accessibility is key: Dr. Nagappala believes that offering quality health services at schools is crucial in the fight to improve healthcare access for people in marginalized communities.

[17:38] Public health means more supportive communities: Dr. Nagappala points out that the COVID-19 pandemic has changed what it means to be a member of a healthy, supportive community that works to keep each other safe — a key tenet of the ethos behind public health policy.

[19:38] Passion makes it all worth it: Despite the administrative burdens that can come with working in the medical field, Dr. Nagappala says that seeing the impact of even small interactions with patients in her field of practice keeps her going. Go where your passion is, and the meaning will become clear.

💵 Financial Wellness Tip 💵

The advisors at Spaugh Dameron Tenny Financial have pulled together a free Resource Library, including eBooks, guides, checklists, and quizzes, to expand your financial knowledge. From help with financial planning to student loans to retirement and more, this free resource is the perfect start for those interested in learning more.

★    Access our free Resource Library today.

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

Compliance code: CRN202411-13125910000

But when his sister was diagnosed with advanced leukemia, he realized what it was like to be on the other side of the doctor-patient relationship — and gained some crucial insights along the way.

To Dr. Stern, grief is a part of life that everyone will experience at some point. This begs the question: why don’t we take an honest and community-oriented approach to dealing with it? Too often, he says, doctors gloss over the intense emotional aspects of their job. Ultimately, that avoidance leads to problems.

“I think a lot of times doctors burn out, not because of the intensity of the emotions, but because of all the effort that they put into avoiding them,” Dr. Stern says.

On this episode of the Prosperous Doc ®, our host Shane Tenny, CFP® welcomes Dr. Stern to talk about how his experience of personal loss has helped him become a more compassionate and empathetic doctor who can help more people.

Dr. Stern talks about how he is working to change the medical field to be more compassionate, focusing less on procedures and more on relationships and quality of life. After his experience grieving the loss of his sister after being with her through such a tough illness, his outlook has shifted toward one of empathy and compassion — and this is something he says everyone can do without much effort.

“Empathy actually doesn't take much time, it's not like you have to devote more time. I think it’s a common myth: people think, well, if I'm going to be empathic, that means I have to see fewer patients, and I have to spend more time (with each of them),” Dr. Stern says. “No: it means making eye contact, it means listening — not just blurting things out. It means being more of a partner and less of a position of authority.”

💡 Featured Expert 💡

Name: Dr. Joseph Stern

What he does: Dr. Stern is a board-certified neurosurgeon and author. He is also the co-director of the Cone Health Brain Tumor Program, specializing in brain tumor surgery, stereotactic radiosurgery, spinal surgery, and functional neurosurgery. His memoir “Grief Connects Us: A Neurosurgeon’s Lessons on Love, Loss, and Compassion,” explores how grief and loss helped him break down the emotional armor that can hinder incorporating compassion and empathy in a doctor-patient relationship.

Words of wisdom: “An important take-home message is that grief does connect us all. We are all linked together.”

Connect: Website | Linkedin | Instagram | Twitter

💰 On the Money 💰

Top takeaways from this episode

★    Learn from your personal experience. Dr. Stern had a really impactful experience on the other side of the curtain in the medical industry when he was helping care for his sister with terminal leukemia. This experience ultimately changed his ethos as a doctor and has made his career more meaningful.

★    Don’t shy away from vulnerability. As the COVID-19 pandemic has shown us, we’ll all come into contact with death and sickness at some point, and supporting each other through those experiences is a crucial part of surviving some of the toughest times. Dr. Stern says that as a doctor, it’s important to realize that while it may seem easier to avoid talking directly to patients suffering from serious illnesses and open up about death, that isn’t doing them — or you, for that matter — any favors.

★    Compassionate medical professionals can make waves. While doctors who haven’t had true compassion for their patients have caused destruction and harm, those who put empathy and compassion first can make a real difference in a patient’s life. Dr. Stern talks about how he wants to make sure the next generations of doctors will have this knowledge ingrained in them from the very beginning of their careers.

⚡ Prosperous Insights ⚡

[04:17] A personal experience: Dr. Stern says that once his sister was diagnosed with terminal cancer, his relationship to the medical field changed, and he started seeing things from a new perspective.

[10:38] Tough conversations: Dr. Stern’s personal experience with his sister’s illness and death drove home the fact that doctors need to be prepared to have tough conversations. Being honest about hard things ultimately makes them easier to get through.

[17:37] Emotional avoidance leads to burnout: Medical professionals are facing massive burnout every day. To Dr. Stern, one of the ways to stay afloat in this field is to confront the tough emotions that you face daily in your field instead of trying to push them out of your mind.

[20:47] Practice self-compassion: Dr. Stern says that embracing self-compassion and empathy, especially in such a cutthroat field, is the first step to showing compassion for others.

[23:30] Doctors without compassion: Dr. Stern says that he thinks one of the top problems in the medical field, hurting patients and doctors alike, is when doctors lack compassion for their patients.

[29:34] Reading recommendations: Dr. Stern recommends the book “Compassionomics” by Stephen Trzeciak and Anthony Mazzarelli for anyone who wants to know more about why compassion is so important.

[30:58] Teaching the new generation: Dr. Stern talks how he is working to change the way medical students are taught so they don’t have to go through a personal crisis in order to be a vulnerable and compassionate medical professional.

[34:57] Patients’ responsibility: While the structure of the medical industry is changing thanks to people like Dr. Stern, he says that patients might have to take the initiative to insist on good communication with their doctors in the meantime.

[38:24] Good relationships are key: Dr. Stern mentions his relationships with people like Dr. Sanjay Gupta, who wrote the introduction to his book, as being crucial for his growth and success in the medical profession.

💵 Financial Wellness Tip 💵

There are three important I's when it comes to retirement planning: how you’ll replace your income, where you’ll find your identity, and where you’ll find your influence. As you plan for retirement, make sure to identify ways to replace all of the components that have been meaningful in your work. Together, these ingredients will help ensure the prosperous retirement that you've longed for.

★    Take our free retirement readiness quiz to learn more.

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

Compliance code: CRN202411-1253157

After earning her undergraduate degree in psychology, Paula graduated from law school. Working for corporate America eventually burned her out. That’s when she returned to her plans to teach.

She went back to school, graduating from the University of Pennsylvania’s Applied Positive Psychology program. As part of the university’s Resiliency Program, she taught Army personnel coping skills for depression. Based on this education, Paula was able to finally become a teacher.

Of her time in the program, Paula says, “It taught me about how to teach adults and how to learn these types of skills, because I was a lawyer — I had no clue how to do that.” She credits the program with giving her the tools she needed to start the Stress and Resilience Institute (SRI). She’s also the author of the book “Beating Burnout at Work: Why Teams Hold the Secret to Well-Being and Resilience.”

In this episode of the Prosperous Doc ^®, our host Shane Tenny, CFP^®, welcomes Paula Davis to discuss the work taking place at the SRI. The institute’s areas of research include the effects of stress and burnout in industries including tech, the military and healthcare, and strategies to help individuals and leaders better manage their working environments.

Paula also discusses what she calls the Core Six causes of burnout, and a strategy called PRIME.

“Each letter stands for a really important competency or set of skills that a team, individuals and leaders can implement to create this great environment and slow burnout,” she says.

💡 Featured Expert 💡

Name: Paula Davis

What she does: As the founder and CEO of the Stress and Resilience Institute, Paula Davis has taught programs to thousands of professionals, leaders, and teams on the topics of stress, burnout prevention, and building resilience.

Company: Stress and Resilience Institute

Book: Bearing Burnout at Work: Why Teams Hold the Secret to Well-Being and Resilience

Words of wisdom: “[Resilience] is largely misunderstood, because we equate resilience with making me tougher … It was [really[ about helping them recognize and understand how to navigate everyday challenges and significant challenges.”

Connect: LinkedIn | Twitter | Email

💰 On the Money 💰

Top takeaways from this episode 

★    Stress and burnout are not the same. Everyone feels fluctuating levels of stress at work. Maybe it’s up one day because you have a deadline, and down the next when your workload has decreased comfortably. Burnout is the result of chronic stress, and often manifests in small ways. The challenge, Paula says, is determining whether you’re experiencing normal levels of work-related stress, or if you’re reaching the burnout stage.

★    Address burnout at the organizational level. Burnout isn’t just an individual issue: It’s usually caused by problems that are present throughout the organization. Unfortunately, managers and supervisors often don’t notice the true extent of these issues, and the impact on workers, until it’s too late.

★    The PRIME way to address burnout at work. Paula uses the acronym PRIME to describe tools teams can use to prevent burnout. It stands for psychological safety and needs; relationships; impact; mental strength; and energy.

⚡ Prosperous Insights ⚡

[02:33] A long time coming: Paula Davis says that although COVID-19 exacerbated burnout, Americans have been suffering from a burnout crisis for quite some time. It’s urgent that professional leaders take action.

[8:00] Rethink resilience: When people hear the term “resilient,” they assume it means to toughen up. Paula, however, defines “resilience” as the ability to handle daily and major challenges without feeling overwhelmed.

[10:00] Recognize the signs: Paula says burnout is the combination of chronic physical and emotional exhaustion, and chronic cynicism. People should look out for these three components.

[14:57] Start at the top: According to Paula, individual instances of burnout often reflect an issue that’s prevalent throughout the workplace. Burnout therefore needs to be addressed as a systemic issue, not as the experience of one individual.

[18:58] The Core Six: Paula identifies the Core Six causes of burnout in the workplace: Lack of flexibility; unmanageable workload; lack of community; unfairness; disconnected values; and lack of recognition.

[32:52] Approach with care: Before approaching a colleague you think is showing possible symptoms of burnout, Paula advises first considering your relationship with them. When you open up the conversation, make it easy for them to talk, without feeling judged or criticized — something Paula calls “humble curiosity.”

[41:01] Harness skills and tools: Paula’s acronym, PRIME, identifies skill sets individuals and teams need to learn to help them address burnout in the workplace, and hopefully even prevent it from taking root.

💵 Financial Wellness Tip 💵

The advisors at Spaugh Dameron Tenny have pulled together a free Resource Library, including eBooks, guides, checklists, and quizzes, to expand your financial knowledge. From help with student loans to retirement and everything in between, this free resource is the perfect start for those interested in learning more.

★    Access our free Resource Library today.

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

Compliance code: CRN202411-1183833

He helps make sense of how the recent changes might apply to you, this is an episode you don’t want to miss if you have outstanding student loans.

The announcement from the Department of Education in early October that they will be easing some of the requirements for Public Service Loan Forgiveness likely left many people feeling a mix of emotions. From confusion over how this affects them, the excitement that they may now qualify, and stress over missing a crucial detail that might mean money spent unnecessarily.

Throughout this episode, Will reviews how the new special waiver allows Federal Family Education Loans (FFEL) to be consolidated into the Direct Loan Program and become eligible for Public Service Loan Forgiveness and the changes to what repayment plans are qualified as part of the program.

Will also addresses next steps if you believe you qualify for the Student Loan Forgiveness program, including:

Step 1: Verify your employment. To verify that you have worked for a qualifying employer for the duration of your 120 payments, you need to submit an Employment Certification Form for each of your employers over the 10 years.

Step 2: Consolidate your FFEL and Perkins Loans. After confirming that your employment is eligible, request a Direct Consolidation Loan before the October 31, 2022 deadline. This only needs to be done if your loans are not direct loans. You can complete this step for free by visiting Gov Federal Student Aid. You do not need to pay for assistance in consolidating your loans.

Step 3: You’re now ready to apply for PSLF & TEPSLF (Temporary Expanded PSLF). You can complete this by using the online PSLF Help Tool found at studentaid.gov.

“Depending on if you have FFEL loans, depending on if you've certified your employer before, depending on who your servicer is, all of those factors will maybe change your path just a little bit,” explains Will. “But the same rules, the same criteria, and the same application process pretty much apply to everyone. Whether you've completed them or not is probably personal or unique to your situation.”

➜For further reading, Will shares more about this topic in this blog post: Federal Student Loan News: Temporary Public Service Loan Forgiveness.

➜If you’re a physician or a dentist and you need help navigating the Public Service Loan Forgiveness programs, Will Koster’s firm is here to help, you can find them online at www.sdtplanning.com.

💡 Featured Expert 💡

Name: Will Koster, CFP^®

What he does: Will is a CERTIFIED FINANCIAL PLANNER™ professional and a Certified Student Loan Professional^®. He also has his FINRA Series 7 and 66 licenses, life and health insurance licenses, and is an investment advisor representative.

Company: Spaugh Dameron Tenny

Words of wisdom: “One of the most amazing facts about this announcement is that the federal government's saying they will give money back to borrowers who have made more than 120 qualifying payments. If a borrower has made 140 payments now toward the Public Service Loan Forgiveness, those 20 extra payments that have occurred in the last two or so years can be refunded, which is amazing.”

Connect: Website | LinkedIn | Twitter

💰 On the Money 💰

Top takeaways from this episode

★    Be aware of key dates for student loan forgiveness. Only payments made after October 1st, 2007, will count towards the loan forgiveness. This is the date when the PSLF program was passed into law. The second date you need to know is October 31st, 2022, this is when the temporary Public Service Loan Forgiveness Waiver expires. To benefit from the waiver, you need to have all paperwork, consolidation, and administrative work completed by this date.

★    Public Service Loan Forgiveness applies to public sector workers. This is a federal program that applies to federal student loans when the borrowers opt to work in a public sector job after graduation. This could apply to a wide range of professionals including teachers, military service members, physicians, or dentists who work for a not-for-profit or 501(c)(3) organization. These individuals can apply for loan forgiveness after making 120 qualifying payments. The definition of a qualifying employer did not change with this announcement.

★    Apply for loan consolidation if you have Federal Family Education Loans. These loans are now eligible for Public Service Loan Forgiveness and consolidating them no longer resets your progress towards the required 120 payments.

★    Qualifying repayment plans have been expanded. Under the special waiver, any payment under any repayment plan, including graduated repayment plans, the extended repayment plan, and the standard 10-year repayment plan now count towards the required payments.

⚡ Prosperous Insights ⚡

[04:15] The 120 payment requirement: Will Koster explains that the 120 payments over essentially 10 years are still a requirement of the program.

[07:15] FFEL loans are now eligible: Due to the low interest rates on FFEL loans, many borrowers have been making minimum payments on the loans for years and years. Will explains how this special waiver has lifted their status into possible eligibility for forgiveness.

[10:11] The effect of administrative forbearance: Federal student loans have been under administrative forbearance since March of 2020 which has basically suspended all required payments on federal student loans. All of the payments, or non-payments for those months do still count towards the 120 payments necessary for Public Service Loan Forgiveness.

[11:33] Refund potential: The federal government says it will give money back to borrowers who have made more than 120 qualifying payments. If a borrower has made 140 payments toward the Public Service Loan Forgiveness, those 20 extra payments that have occurred can be refunded.

[19:03] Private loans — not eligible: Private loans that are not backed by or serviced by the federal government do not qualify, explains Will. Consolidation can often be confused with refinancing. He clarifies that we are not talking about taking federal loans and making them private. To clarify, the temporary waiver of Public Service Loan Forgiveness does not apply to any refinanced, private student loans.

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

Compliance code: CRN202410-1060746

After finishing his dental residency, Dr. Williams worked as an associate in a private practice for about four years before starting his first practice.

“Growing up, we had a few family friends that were dentists and watching them own their own business, talk about the autonomy, talk about work-life balance … that seemed admirable, that seemed exciting,” Dr. Williams says.

On this episode of the Prosperous Doc ^®, our host Shane Tenny, CFP^®, welcomes Dr. Williams to discuss his path toward independence and the hurdles that come with business ownership.

“After practicing for a few years, after a good education, great residency experience, I was very confident and capable clinically ... But when it came to being a business owner, being a leader in the practice, I felt I hadn't had enough formal training, but also just not enough hands-on experience to be able to tackle that on my own,” Dr. Williams explains about those early stages.

Dr. Williams and another dentist entrepreneur in the Charlotte, NC area bought a practice together. His partner had more experience with the business-side of things, having previously purchased a few practices.

After working there for some time, Dr. Williams felt he had outgrown his role and wanted to step into a leadership position, inspiring him to branch out and buy a practice on his own.

“I just got serious about embracing my role as a leader in the practice that I was in, in my partnership, honing in on the skills to become a better leader,” Dr. Williams says.

💡 Featured Expert 💡

Name: Dr. Michael T. Williams, DMD, FAGD

What he does: Dr. Williams has been in private practice in Charlotte since 2010. He is an active member of the American Dental Association, the North Carolina Dental Society, the Academy of General Dentistry and is the president of the Charlotte Dental Society. Dr. Williams was awarded a Fellowship in the Academy of General Dentistry achieved by only 6% of dentists. 

Company: Williams Dental | Facebook

Words of wisdom: “I learned through this journey that nothing really has to be permanent.”

Connect: LinkedIn | Email

💰 On the Money 💰

Top takeaways from this episode

★    Understanding the business-side of operations is crucial. Dr. Williams says dentists spend so much time honing their clinical and patient skills that learning about business practices falls to the wayside. Gaining an understanding of the behind-the-scenes operations is a crucial step before starting practice.

★    Financial and business coaches can make a big difference. Hiring someone to help with marketing or improving the business model can greatly impact a practice’s success.

★    Be willing to make changes. As a dentist’s career aspirations change, so does the big picture. Life changes. Be willing to take steps in the direction of larger payoffs and happier careers.  

⚡ Prosperous Insights ⚡

[03:51] Hone clinical and patient skills: Dr. Michael Williams, immediately following his residency, worked as a private practice associate for 3 to 4 years, harnessing those crucial clinical and interpersonal skills. 

[07:46] Confidence and skill sets grow: After working at this joint practice for a few years, Dr. Williams felt he had “outgrown the space” and wanted to take on more of a leadership role in a practice of his own. 

[09:32] Harnessing leadership skills: “Regardless of how much I maybe didn't want to be in a leadership role, it was there and I needed to just learn to embrace it,” Dr. Williams says of his desire to take the leap from partner to sole owner of a practice.

[12:42] Seek counsel from advisors and coaches: Without much knowledge of how to start and operate a business, seeking the guidance from professionals can help make the transition smoother and more monetarily sound.

[22:56] It’s never too early or too late to network: Being involved in dental societies and organized dentistry can foster relationships that expand your knowledge and skills. It can also open the door for more opportunities.

[26:31] Mentors and coaches can have lifelong impacts: Dr. Williams credits Dr. Frank Serio, Harvey Smith, and Ben Shaver for having had major impacts on his life and career.

💵 Financial Wellness Tip 💵

The advisors at Spaugh Dameron Tenny Financial have pulled together a free Resource Library, including eBooks, guides, checklists, and quizzes, to expand your financial knowledge. From help with financial planning to student loans to retirement and more, this free resource is the perfect start for those interested in learning more.

★    Access our free Resource Library today.

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

Compliance code: CRN202410-1032982

These patterns separated the strong communicators who could accomplish agendas and climb corporate ladders from the communicators who didn’t achieve their goals. That observation sparked a passion for decoding communication and understanding what makes others tick.

“I started to be interested in what those patterns were and started to do some research on my own ... and eventually got trained in nonverbal communication by a behavioral research lab,” Shelly says of her journey to becoming a body language and communication expert. 

On this episode of the Prosperous Doc^®, our host Shane Tenny, CFP^® welcomes Shelly to discuss her work and research about better communication — particularly with doctor-patient communication.

Shelly, who delivers training programs to help executives and teams use authentic communication to deliver a message, shares how important strong communication and nonverbal cues are for building trust between doctors and patients.

“If the physician walks in and really takes a moment to look at the patient, make some eye contact, be open, also be front-facing … that's going to make a big difference in opening up that trust,” Shelly says of the all-important nonverbal communication skills that encourage trust between two people. 

Shelly also discusses how this trust is vital to the physician’s practice as it encourages patients to be more open and communicative about their current health, ailments, or whatever may be bringing them into the office.

💡 Featured Expert 💡

Name: Shelly O’Donovan

What she does: As the CEO of the Authentic Influence Group, ITM LLP and a Persuasive Speaking Lecturer at the Wharton School, Shelly helps healthcare executives and teams learn and apply effective and authentic forms of communication. 

Company: Authentic Influence Group 

Words of wisdom:  “We build our first impression of someone within 20 seconds of seeing them. It actually has nothing to do with hearing them speak — but 20 seconds of seeing someone.” 

Connect: LinkedIn | Twitter

💰 On the Money 💰

Top takeaways from this episode 

★    Nonverbal cues carry weight. Three nonverbal cues — hand gestures, facial expressions, and vocal tone — can greatly enhance communication. A study conducted revealed that doctors whose tone was perceived as friendlier and more trustworthy had fewer malpractice suits filed against them.

★    Building trust encourages more honesty from patients. The more trust a patient has in their physician, the more likely they will be honest about what they are feeling or experiencing. Shelly believes strong doctor-patient communication can lead to better and more accurate treatments for patients. 

★    Apply communication skills for the digital age. Despite the rise in telemedicine, physicians should not forget the power of strong communication skills and nonverbal cues. During a virtual consultation, looking directly into the camera and facing the patient head-on is a great way to earn their trust.

⚡ Prosperous Insights ⚡

[05:49] Gestures (aka suggestors) tell a story: Shelly explains that hand movements, facial expressions, and voice tone are three forms of nonverbal communication that can really enhance an interaction.

[07:28] Putting in the time: According to research, if a doctor can give any fraction of face-to-face time to a patient, it really helps open a trusted line of communication.

[10:33] Quick first impressions: Shelly says first impressions are made within the first 20 seconds of meeting someone, so medical professionals have to really engage in strong nonverbal communication skills to build trust with patients. 

[13:36] Attention pays: One of the best things a physician can do to build trust is simply pay attention to their patient. Trying to remain still and in a neutral stance send a nonverbal cue to the patient — communicating that they are being heard and given the time of day.

[19:42] Engagement in the time of Zoom: Shelly describes good Zoom etiquette for clinicians, which includes looking directly into camera and having good lighting. 

[22:58] Mirror communication: A good rule of thumb for communication is using the same method initially used to reach you. For instance, if someone calls you and you miss it, return their call, answer an email with an email, and so on.

💵 Financial Wellness Tip 💵

The advisors at Spaugh Dameron Tenny Financial have pulled together a 54-page survival guide to walk you through real world scenarios and action plans for saving, insurance and loans. This guide is specialized just for physicians. Complete this form and your guide will be emailed to you, letting you in on the next steps you need to take to tackle your finances head-on.

★    Download our financial survival guide to get started.  

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

Compliance code: CRN202408-660062

“Growing up, I loved English and I loved science, and now I feel like they are merging, which is wonderful,” Dr. Baimas-George says of her newfound side hustle. She’s a surgical resident by day, and an author and illustrator by weekend.

In this episode of Prosperous Doc^®, our host Shane Tenny, CFP^®, welcomes Dr. Baimas-George, a surgical resident at Carolinas Medical Center of Atrium Health in Charlotte, North Carolina. In addition to discussing her medical career, Dr. Baimas-Georges tells us about her children’s book series, “The Strength of My Scars: Pediatric Surgical Chronicles,” and the path that led her to create such meaningful work.

Dr. Baimas-George’s first-hand experience in the pediatric surgery service shed light on the information that gets lost in translation between patients, their caregivers, and physicians.

Physicians speaking in medical jargon to patients and their families who are already anxious and scared is not beneficial. Dr. Baimas-George’s series provides both caregivers and children with understandable information they can process more readily in times of high emotion.

“We saw a significant benefit in satisfaction, comprehension or understanding, and [decreased] apprehension or stress in caregivers and parents of patients undergoing common pediatric surgeries,” Dr. Baimas-George says of a controlled study conducted at Carolinas Medical Center.

Dr. Baimas-George’s medical and authorial future is as bright as the lights on her OR table. She is a true testament to the power of following your passions wherever they might take you. 

💡 Featured Expert 💡

Name: Dr. Maria Baimas-George, MD MPH 

What she does:  Dr. Baimas-George is a surgical resident working at Carolinas Medical Center of Atrium Health in Charlotte, North Carolina. From her first-hand experience with pediatric patients, Dr. Baimas-George has created a children’s book series, “The Strength of My Scars: Pediatric Surgical Chronicles,” explaining medical procedures and terms, and calming fears surrounding health-related issues.  

Company: Atrium Health | LinkedIn | Twitter   

Words of wisdom: “Scars should be embraced. It shows that we’ve overcome adversity.”

Connect: LinkedIn | Twitter | Books Website | Books Instagram | Books Twitter | Books Facebook

💰 On the Money 💰

Top takeaways from this episode 

★    Follow your bliss. From writing to art to science classes to medical school, Dr. Baimas-George always followed her passions. Now working in an OR and writing and illustrating meaningful works for children and their caregivers, she gets to use two of her interests to make a difference in the lives of her patients.

★    Cross your t’s and dot your i’s. Although she is independently publishing her works, Dr. Baimas-George ensures she is producing the absolute best resources for patients. She has the medical facts checked and approved by doctoral peers and mentors, has the books proofread for spelling and grammar, and has coworkers read through to make sure the story and information is sound.   

★    Ask for help. For Dr. Baimas-George, asking for help in the form of a grant was the best decision she could have made. Receiving a grant from the Carolinas Medical Center of Atrium Health allowed the series to get published.  

⚡ Prosperous Insights ⚡

[05:08] You can have multiple passions: Having always loved English, drawing, and science, Dr. Baimas-George is seeing her passions merge into one fruitful project.

[05:52] Lost in translation: Even the best doctors struggle to explain diagnoses and treatments in layman's terms, especially when the patient is a child and parents are stressed, anxious, and scared.

[09:02] Pairing metaphors and facts: In order to make the information more accessible to children and overwhelmed caregivers, Dr. Baimas-George uses metaphors to tell a story, and factual information to support it. Each book has a fact section at the end, with extra resources for parents.

[11:52] Be proud of your struggles: The title of the series — “The Strength of My Scars: Pediatric Surgical Chronicles” — draws on the power and strength of hardship. Dr. Baimas-George hopes readers will find encouragement from her books and embrace their scars.

[14:10] Support matters: Dr. Baimas-George has support from her colleagues, pediatric surgeon mentors, and the department of surgery at Atrium Health — a major advantage when she needs medical professionals to peer review her work.

[16:00] Ask (or apply) for help: Dr. Baimas-George applied for a grant through her department, which ultimately allowed her to self-publish the series.

[21:05] Proof is in the pudding: A study conducted at Atrium Health found that Dr. Baimas-George’s books were beneficial in lowering adults’ stress and confusion about their children’s diagnoses

💵 Financial Wellness Tip 💵

The advisors at Spaugh Dameron Tenny Financial have pulled together a 54-page survival guide to walk you through real world scenarios and action plans for saving, insurance and loans. This guide is specialized just for physicians. Complete this form and your guide will be emailed to you, letting you in on the next steps you need to take to tackle your finances head-on.

★    Download our financial survival guide to get started.  

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

Compliance code: CRN202407-473088

“Watching his recovery is what really motivated me,” she says. “That was a life-changing experience for me, to see how those physicians … [and] the entire care team — honestly saved my brother's life, and revived him. So that spurred my interest in medicine.” 

Dr. White accomplished her goal of becoming one such “miracle worker.” Still, it wasn’t until several years into her career that she realized her impact isn’t defined by the number of patients she sees or accurate diagnoses she gives.

In this episode of the Prosperous Doc ^®, our host Shane Tenny, CFP^®, welcomes Dr. White, the Specialty Medical Director of Community Health at Atrium Health. They discuss how she became a leader outside the exam room, what to do about the health inequities exposed by the COVID-19 pandemic and why she went back to school to earn her master’s in Healthcare Management from Harvard T.H. Chan School of Public Health.

Dr. White finds her center by reminding herself of why she went into healthcare in the first place. “And that's to care for patients and improve their health and well-being,” she says, adding that maintaining perspective about the various ways she can impact the health of patients “is one of my guiding principles.”

💡 Featured Expert 💡

Name: Dr. Janelle White, MHCM, FAAP

What she does: Dr. White is the Specialty Medical Director of Community Health at Atrium Health and the Pediatric Regional Medical Director at Atrium Health Levine Children’s University Pediatrics in Charlotte, North Carolina. In addition, Dr. White serves on the board of managers for Carolinas Physician Alliance.

Company: Atrium Health 

Words of wisdom: “I just had to learn for myself and accept the fact that I can impact patient care without actually touching the patient.” 

Connect: LinkedIn

💰 On the Money 💰

Top takeaways from this episode 

★    Physicians can help patients — not only in the exam room. Dr. White once believed the only way to help people was through direct patient care. But, as she developed an interest in quality improvement and other initiatives, she gained leadership roles on boards and committees that have taught her there are several ways to be a leader in a healthcare setting.

★    Healthcare disparities have never been more apparent, and physicians can do something about it. The COVID-19 pandemic has brought the ugly truth about health inequity to the forefront. Even though it was already on her radar, Dr. White says it’s become apparent that she and her colleagues need to focus on wraparound services, aka addressing social determinants such as food insecurity as underlying factors for patients.

★    When the going gets tough, remember why you went into healthcare. Like all of us, healthcare workers face obstacles while reaching for their goals. But Dr. White has learned to push past these by reminding herself why she became a pediatrician in the first place. As a new graduate suddenly grieving the loss of her husband, for example, Dr. White used her passion to make an impact in her patients’ lives as her “north star” guiding her through her grief.

⚡ Prosperous Insights ⚡

[01:38] How it all started: Dr. White shares the story of how, after his car accident, watching her brother’s care team put him on a path to recovery inspired her to go into healthcare — and how a church member helped her choose a specialty.

[05:05] Pushing herself to do more: Dr. White explains how providing the best possible care was her main and perhaps only focus the first few years she was practicing. The longer she was in the field, the more interest she gained in areas such as quality improvement and community health.

[07:13] Don’t let your expectations limit you: Dr. White shares why she had to overcome some mental hurdles to realize she can improve patient lives through initiatives other than just direct care.

[10:35] Your experience is your strength as a leader: As a physician with more than 15 years of direct patient care experience, Dr. White says she knows what she’s talking about when she steps into a board meeting.

[14:54] Communication is key: Diving into the administrative side of healthcare might seem like selling out, Dr. White says, but it’s essential to think of it as just another way to help people via communicating physician needs to non-physicians. 

[19:41] There’s no shying away from inequity now: The COVID-19 pandemic was a blatant example of the often dire results of health disparities, Dr. White explains, adding that it’s never been more urgent to address them.

[24:47] Good healthcare utilizes wraparound services: Dr. White explains why there needs to be a “warm handoff” between a clinical team and nonprofits and other service providers that help patients get the non-medical help they need to better themselves.

[30:28] Patients, like all humans, are complex: Dr. White explains why it sometimes gets lost in translation between board members and physicians why certain initiatives won’t work.

💵 Financial Wellness Tip 💵

The advisors at Spaugh Dameron Tenny Financial have pulled together a 54-page survival guide to walk you through real world scenarios and action plans for saving, insurance and loans. This guide is specialized just for physicians. Complete this form and your guide will be emailed to you, with the next steps to take your finances head-on.

★    Get our free survival guide today.

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

Compliance code: CRN202406-357625

He is a Partner at Bentson Copple & Associates, a transition company that assists orthodontists nationwide with practice valuation, partner location services, as well as negotiating transitions. 

In this episode of the Prosperous Doc ^®, our host Shane Tenny, CFP^® welcomes Doug to discuss changes in the dental market and what that looks like for private practices and future doctors.

“Orthos are really our bread and butter. We're involved with 50 to 60 transactions a year, at least on the ortho side. Our firm really provides valuation, transition, and recruiting services for orthodontists. It's any change of ownership,” Doug explains.

The firm is focused on facilitating effective and shorter negotiations with the greatest probability of closing the deal. This is timely as more orthodontic residents say they plan to work as employees for dental service organizations (DSO) and orthodontic service organizations (OSO). 

“If you're a doctor and you're being overwhelmed by some of the things you don't want to do in your practice anymore, you can get a big lump sum [from an OSO buyout], and say you have $3 million in the bank now,” Doug says of the kind of transactions he helps facilitate.

“That's a pretty nice little passive income for you as a doctor that you're adding on to your salary to work back.”

💡 Featured Expert 💡

Name: Doug Copple 

What he does: As a Partner at Bentson Copple & Associates, Doug assists orthodontists nationwide during pivotal career transition points. Doug’s goal is to provide shorter negotiation cycles and stronger assurance of deals reaching completion. 

Company: Bentson Copple & Associates | LinkedIn 

Words of wisdom: “What we're telling our clients — whether you're thinking about doing a transaction with a single doctor, or you're thinking about doing a transaction with an OSO, anytime in 2022 — you really need to look at the tax consequences of doing it this year versus doing it next year.”

Connect: Email | LinkedIn

💰 On the Money 💰

Top takeaways from this episode

★    Dental practices have the potential to yield large profit margins. Doug says the dental market is hot right now and one thing attracting investors is the potential to increase efficiency and profit. “I think private equity or business minded people look at individual dentists or orthodontists and say this is an inefficient model. You've got one doctor with maybe two or three locations. They can only be in one location at a time, so there's all this downtime that we can make it more efficient,” he says.

★    Running a practice is less appealing to future orthodontists. It’s estimated that by 2025, approximately 55% of the dental world may be affiliated with DSOs. Similarly, 55-60% of orthodontic residents say they plan to work as employees rather than owning a private practice at least early in their careers.

★    Be willing to make changes. As a doctor’s private practice gets bigger, it could serve them to turn to an equity investor, but they have to be willing to make changes for higher efficiency and online patient interactions.  

⚡ Prosperous Insights ⚡

[02:08] Providing niche services: Doug Copple discusses Bentson Copple & Associates' focus in the orthodontic market. The company provides valuation, transition, and recruiting services, and any change of ownership deals for orthodontists.

[03:53] More efficiency yields larger profit margins: Private equity or business-minded people look at individual dentist orthodontists as an inefficient model, as one doctor might work at two or three locations. That’s where companies like Bentson Copple & Associates come in and improve the efficiency model and recruit more doctors.

[04:43] Consolidation is the current trend: The dental market is hot right now, Doug confirms. It is currently estimated that by 2025 about 55% of the dental world may be affiliated with DSOs or OSOs.

[06:09] New residency trends: Doug says his firm conducts a yearly survey of orthodontic program residents. In years past, more than half would respond with interest in owning their own practice. Now, however, between 55% and 60% say they plan to be an employee of a private practice or corporate group, such as an OSO or DSO.

[09:49] Helping doctors do their job: When private or corporate groups buy a doctor’s practice, it allows the doctor to remain solely focused on clinical concerns. The buyer can focus on administrative concerns, technological changes, HR needs, and any other management needs while the physicians can focus on patients.

[18:12] Making changes for the better: These private and corporate groups are looking for a partnership with these doctors. They do not simply want to pay a lump sum and see the doctor lose interest in their own practice. These groups want to work in tandem with doctors to improve their patients’ experience and the operations of the business.

[23:17] Money while you sleep: If you’re a doctor, explains Doug, and the daily operations of your practice are becoming too much, then selling to a larger group provides some passive income.

[28:14] Think ahead: Doug explains that doctors considering transactions with OSOs really need to take into consideration the tax consequences of selling in 2021 versus 2022.

💵 Financial Wellness Tip 💵

The advisors at Spaugh Dameron Tenny Financial have pulled together a 54-page survival guide to walk you through real world scenarios and action plans for saving, insurance and loans. This guide is specialized just for physicians. Complete this form and your guide will be emailed to you, with the next steps to take your finances head-on.

★    Get our free survival guide today.

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

Compliance code: CRN202406-220869

“I simply started to realize that I craved as much information, knowledge, and experience about business and finance as I could. I started to expand my network, socially and professionally, outside of medicine,” says Dr. Kuremsky.

On this episode of the Prosperous Doc^®, our host Shane Tenny, CFP^® welcomes Dr. Kuremsky to discuss his path into venture capital, which stemmed from his passion for learning. Dr. Kuremsky shares his journey and how important it is to make your money work for you. 

“If you make the right decisions, or the smart decisions, you're able to move through your career from the stage where it's you having to go to work, to the stage where it's your money going to work — to generate the money that you need,” he explains.

Dr. Kuremsky also discusses the importance of investing in businesses that will make a difference. As a member of LOUD Capital, which follows the motto “Venture for People ^®,” he’s involved in world-changing ventures. 

“We want everybody to have access to capital, particularly underrepresented or traditionally excluded groups and it's everybody,” he says.

💡 Featured Expert 💡

Name: Dr. Marshall Kuremsky 

What he does: Dr. Marshall Kuremsky is an orthopaedic surgeon and venture capitalist with LOUD Capital, where he takes pride in investing in the world’s future. 

Company: LOUD Capital 

Words of wisdom: “My whole philosophy in the last five years has been finding ways to make sure that I was making money when I'm not working.” 

Connect with Dr. Kuremsky: Website | Twitter | LinkedIn | Email 

Connect with LOUD Capital: Twitter | LinkedIn

💰 On the Money 💰

Top takeaways from this episode 

★    Pursue your curiosities. After going through medical school and practicing medicine for four years, Dr. Kuremsky realized he craved more knowledge — specifically, knowledge about business and finance. That curiosity led him down a fruitful path to becoming an associate at LOUD Capital.

★    It all comes down to the people. Dr. Kuremsky credits his trust in good people for leading him to venture capital. He trusted someone who had a mutual vision and purpose and someone he believed to have good core values. These people are now his business partners. 

★    Be proactive and take a hands-on approach. Venture capital can be far more than simply raising and deploying capital. For LOUD Capital, it's helping to grow and shape companies and provide them with leadership, resources, and the network to live up to their potential.

⚡ Prosperous Insights ⚡

[02:38] Follow your curiosity: Dr. Kuremsky achieved his dream of becoming an orthopaedic surgeon but became curious about finance and business. He realized there was more to his passion than serving his patients each day, leading him to pursue venture capital.

[09:56] Trust good people: More than anything, Dr. Kuremsky credits the people rather than the business for drawing him into venture capital. He was inspired by the good people already doing the work and the purpose and vision they pursued.

[11:27] The venture capital breakdown: Dr. Kuremsky explains what exactly venture capital is, which is early stage investment in companies, people, entrepreneurs, or startups. He breaks down the different levels of involvement and what the journey can look like for different people.

[12:24] Get your hands dirty: Dr. Kuremsky and the LOUD Capital team boast a very hands-on approach with their investments. To them, investing is far more than raising and deploying capital — it's helping to grow and shape companies by providing them with leadership, resources, and network.

[18:30] Getting started: There are different ways for people to get involved in venture capital. One of the simplest ways, which Dr. Kuremsky did, is to become an investor, or a limited partner. Investors can then choose their level of involvement, which determines next steps.

[20:07] Reach out and network: Getting started on finding the right investment for you can be challenging. It takes reaching out to people via phone, email, or even social media. It takes networking to find the right people with whom your values align. Dr. Kuremsky encourages people to contact him via mobile (919-609-6879) or email (marshall@loud.vc).

[25:58] Make money work for you: Making smart moves in venture capital can open doors. According to Dr. Kuremsky, “You're able to move through your career from the stage where it's you having to go to work, to the stage where it's your money going to work — to generate the money that you need.”

[29:59] “Venture for People ^®”: LOUD Capital’s motto speaks directly to its mission. The company wants everybody to have access to capital, especially underrepresented communities. One such initiative is the Pride Fund, which supports investments in members of the LGBTQ community.

💵 Financial Wellness Tip 💵

Do you have a financial junk drawer? It’s full of things you don’t know where else to put — a 401(k) from an old job, an insurance policy from a college roommate, bank accounts you opened to get a car loan but never use, etc.

The more products, accounts and policies you have, the harder it is to create a centralized vision of — and make progress towards — your financial goals. If you need help organizing your finances, click below.

★    Download our Financial Checklist to get started.  

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

Compliance code: CRN202304-281669

“I was born and raised in a really hard-working family with a lot of perfectionism tendencies and some mental health issues like anxiety that probably were undiagnosed,” she says. “And I just achieved my way through school, through med school, through training. Kept going and didn't really pay attention to self-care. … It finally came to a head my second year [in residency] when I had a patient who ended up dying, and that derailed me.” 

On this episode of the Prosperous Doc^®, our host Shane Tenny, CFP^® welcomes Dr. Bybee, Assistant Professor in Pediatric Critical Care Medicine and Director of Quality and Safety for Pediatric Critical Care Medicine at Spectrum Health, to discuss what it took to finally address her work-related depression. She details the experience that opened her eyes to needing help, and why overcoming her shame and confiding in her husband was the first step she needed to get professional help.

Through her own self-care journey, Dr. Bybee discovered all the cultural issues that cause medical professionals to avoid therapy — including the idea that they must be strong “superheroes” for everyone else. Dr. Bybee explains why this mentality is dangerous, and why hospital management doesn't always respond appropriately to its resulting burnout.

Dr. Bybee also offers suggestions for people seeking resources for themselves and loved ones, including several podcasts and apps that people can use to help calm their minds.

💡 Featured Expert 💡

Name: Dr. Jillian Bybee 

What he does: Dr. Bybee is the Assistant Professor in Pediatric Critical Care Medicine and Director of Quality and Safety for Pediatric Critical Care Medicine at Spectrum Health, where she strives to help medical fellows become better physicians. 

Company: Spectrum Health 

Words of wisdom: “If you're a superhero, you're not supposed to need to sustain yourself — you're just supposed to keep going. And that's really the culture of medicine — this grin-and- bear-it or just move on and bury-your-feelings approach. There's also this feeling that somehow it's selfish. … [But] if you're not able to take care of yourself, you certainly can't take care of other people as effectively.” 

Connect: Twitter

💰 On the Money 💰

Top takeaways from this episode 

★    It’s OK to not be OK. We often — especially throughout the COVID-19 pandemic — refer to healthcare workers as “heroes,” when in reality, they’re humans like the rest of us. That’s why Dr. Bybee says it’s especially important for these professionals to be self-aware and stop putting their mental health needs last.

★    Every physician has to figure out what works for them. Dr. Bybee acknowledges how everyone’s self-care journey is different. She notes, for example, that it’s OK if one person needs therapy but meditation alone is enough for someone else. There’s no one-size-fits-all method to overcoming burnout, which is why higher-ups saying “tell us if you need help” is often too vague to be effective.

★    Seek help from both professionals and loved ones. It can be difficult to confide in a stranger, which is why Dr. Bybee found it so cathartic to first confide in her husband about her depression — it gave her the validation and strength she needed to seek professional help. She suggests contacting friends, family, or another trusted loved one when you finally hit a wall.

⚡ Prosperous Insights ⚡

[02:15] Looking inward: Dr. Bybee explains the straw that broke the camel’s back in terms of burnout and the first steps she took on her self-care journey.

[06:28] Not everyone can be superhuman: Dr. Bybee discusses why the general population calling healthcare workers “heroes” during COVID-19 sort of backfired in her workplace, and how the hospital coped.

[09:59] Finding their own way: Healthcare professionals are often hesitant to take advantage of mental health resources offered to them. Dr. Bybee explains why this happens and what many of them do to cope instead.

[13:38] Coming out the other side: Going through depression and burnout — and then addressing it in therapy — has helped Dr. Bybee to anticipate when negative thoughts might creep back in.

[18:19] Sharing the knowledge: With the understanding that many of her peers face the same challenges in prioritizing self-care, Dr. Bybee discusses how her journey has inspired her to help other medical professionals.

[24:31] Adapting her approach: Women handle burnout and secondhand trauma differently from men, so Dr. Bybee explains how she alters her approach when talking to different genders. She shares how she learned even more about this gender disparity from the book “Burnout” by Emily Nagoski, Ph.D. and Amelia Nagoski, D.M.A.

[27:17] Fill your toolbox with what works for you: Asked about what resources she recommends, Dr. Bybee explains the importance of therapy in conjunction with reaching out to loved ones. She also advises meditating (which she does with the help of the Ten Percent Happier app and podcast) and listening to podcasts such as Unlocking Us with Brené Brown.

💵 Financial Wellness Tip 💵

Do you have a financial junk drawer? It’s full of things you don’t know where else to put — a 401(k) from an old job, an insurance policy from a college roommate, bank accounts you opened to get a car loan but never use, etc.

The more products, accounts and policies you have, the harder it is to create a centralized vision of — and make progress towards — your financial goals. If you need help organizing your finances, click below.

★    Download our Financial Checklist to get started.  

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

Compliance code: CRN202303-280813

The answer: consulting attorneys as a traumatic head and brain injury medical expert. This path made sense based on Dr. Feldman’s expertise in this field, which had developed over nearly 40 years from a personal injury lawyer who sent him head-injured clients. Dr. Feldman realized his knowledge of these types of injuries was invaluable. 

“I have testified as an expert witness, as a medical expert, really more times than I want to remember on behalf of my patients who were either being cut off of their medical care or being offered some pittance of a settlement,” he says. “So I thought, based on all of that, well, maybe what I could do is consult attorneys on any kind of medical question that they had in a case. And that turned out to fill a niche that hadn't been filled — and now, 13 years later, has developed into a new subspecialty of preventive medicine.”

In this episode of the Prosperous Doc ^®, our host Shane Tenny, CFP^® welcomes Dr. Feldman, a psychiatrist and psychoanalyst, to discuss this career transition into consulting work. Besides explaining his system for consultations and how he approaches every new case, Dr. Feldman shares how he’s expanded his business to coach other medical professionals who want to start their own consulting work.

He also offers a sneak peek of his upcoming virtual Medical/Legal Conference, covering various topics about medical legal consulting, like how to operate and market your business.

💡 Featured Expert 💡

Name: Dr. Armin Feldman 

What he does: As the owner of MD Business Consultants, Dr. Feldman consults attorneys in the Denver area on medical questions that arise in their cases and helps other physicians around the country run successful medical/legal consulting businesses. 

Company: MD Business Consultants, LLC 

Words of wisdom: “The way that I have advised physicians over the years is to do an informal survey of your colleagues. Determine what you think is the average fee per hour for doing medical expert [work] in your community. … Once you get that average, as a medical consultant, you're going to come in maybe half to two-thirds of what the experts are charging.” 

Connect: LinkedIn

💰 On the Money 💰

Top takeaways from this episode 

★    An option for doctors who no longer want to practice medicine. We probably don’t need to tell you that medicine is no walk in the park, which is why plenty of medical professionals want to step back from being a clinician at some point. When doctors are done practicing or want to take a step back before retiring, Dr. Feldman suggests looking into medical consulting. It offers doctors an opportunity to continue helping sick or injured people, but with a lower time commitment — you can work as little as 8 hours a week.

★    Consulting requires a great deal of homework. Dr. Feldman admits he doesn’t have a business degree, so much of his business is built on learning from his mistakes. Since 2006, he’s been researching medical cases and working with lawyers. Based upon that experience, he’s able to help other medical professionals perfect the three steps to any consultation work: talk to the attorney, review the medical records, and interview the client.

★    Good consultants teach others to do the same work. Like most medical professionals, Dr. Feldman has a passion for helping others. That’s why he started a coaching business to train other doctors how to make money from consulting. Right now, he’s preparing for his 2021 virtual conference to help as many professionals as possible.

⚡ Prosperous Insights ⚡

[01:56] How it all started: Dr. Armin Feldman explains how he got into medical consulting 15 years ago and what the job actually entails.

[05:53] Consulting by the numbers: Dr. Feldman breaks down several numbers associated with his job, such as how many types of services he provides (spoiler: more than 16) and how long the typical consultation takes.

[08:17] Do your homework and you’ll reap the reward: Dr. Feldman gives an in-depth example of a case in which he helped a plaintiff receive a larger settlement after taking three important steps: talking to the attorney, reviewing the medical records, and interviewing the client.

[12:59] Profiting off of knowledge spreading: Dr. Feldman explains how he turned his full-time consulting work with attorneys into an additional business of training other doctors to do the same thing.

[19:08] You can do it too: Dr. Feldman breaks down what you’ll learn from the Medical/Legal Consulting Conference (April 24-25, 2021) and what you’ll get, including lessons on how to market your business and operate it on a day-to-day basis.

[22:47] Learning by doing: Because he doesn’t have a business degree, Dr. Feldman explains how he built his business by figuring out what worked and what didn’t.

[24:47] The perks of working with attorneys: Asked about liability and insurance, Dr. Feldman explains how it’s very hard to get sued even if an attorney doesn’t like your opinion.

💵 Financial Wellness Tip 💵

Do you have a financial junk drawer? It’s full of things you don’t know where else to put — a 401(k) from an old job, an insurance policy from a college roommate, bank accounts you opened to get a car loan but never use, etc.

The more products, accounts and policies you have, the harder it is to create a centralized vision of — and make progress towards — your financial goals. If you need help organizing your finances, click below.

★    Download our Financial Checklist to get started.  

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

Compliance code: CRN202303-280119

“There's something amazing about the entrepreneurship opportunities in the United States,” Andrew says. “But when people are coming into the idea of ownership, particularly from a trade where you're a doctor first or an accountant first or an attorney first, it's really hard to think about that role of entrepreneurship.”

In this episode of Prosperous Doc®, Andrew shares best practices for professionals who want to launch their own practice or become a partner, including how to start with the launch mindset before you’re ready to go on your own.

He talks about why it’s important to first make an honest assessment of yourself and your leadership style, understand who you need on your team to ensure success, and be clear about why you truly want to run your own business. According to Andrew, having a strategy for tracking expenses and key performance indicators, coupled with a production plan, can help you stay on track and reach your financial milestones.

Andrew also addresses what it’s like if you’re going into a partnership. Uncomfortable situations might arise and he shares how to address issues before they jeopardize your practice.

“If you don't think something's working, have a candid conversation. They [your partner] may be feeling the same way. And it gives you an opportunity to kind of redefine parameters and boundaries.”

Finally, Andrew talks about how to find the balance between fast and slow change and building a team that will help you achieve your goals.

💡 Featured Expert 💡

Name: Andrew Tucker

What he does: A tax attorney by training, Andrew is also a CPA and CFP®, and helps clients maximize wealth through a unique blend of tax-centric cash flow strategies. Andrew has also served as a guest lecturer for various professional associations, including the American Dental Association (ADA), Dentist Entrepreneur Organization (DEO), and the Pacific Coast Society of Orthodontists (PCSO). 

Company: Spaugh Dameron Tenny 

Words of wisdom: “There are opportunities opening up everywhere all the time, you just have to be ready and willing to see them.” 

Connect: LinkedIn

💰 On the Money 💰

Top takeaways from this episode 

★    Seriously consider why you want to own your own business. Put pen to paper to determine your goals for entrepreneurship and develop a realistic picture of why you want to make the switch to running your own business. Be intentional in considering if it’s really right for your personality and professional and personal life.

★    Know your leadership style. Take a personal inventory assessment to see what you can take on as a leader and whether a partnership might be appropriate. Andrew advises using a SWOT analysis to look inwardly and understand one’s skill set before stepping into an ownership role.

★    Create a production plan for your organization. Identifying and quantifying the production value dollar amount that you think people will be able to provide can help you plan your financial goals for your practice.

⚡ Prosperous Insights ⚡

[12:31] More than serving patients: Andrew talks about the realities of owning your own businesses as an owner-doctor or partner, sharing a clear picture of what’s in store.

[14:46] Don’t be afraid to have difficult conversations: Ending a partnership can be uncomfortable, but delaying the inevitable can worsen the situation. Have candid conversations early on to try and solve issues before they become bigger problems. 

[16:14] The pace of change is key: When transitioning into entrepreneurship, a lot is in flux — some things move quickly, while others move slowly. Knowing that you don’t have to change everything at once can help you keep the momentum going and serve patients, too.

[22:40] Know your KPIs: Define your key performance indicators for success. Practice management software is important to help track information and guide you through your daily operations. This information will be invaluable as you grow.

[24:44] Narrow your KPI focus: Since tracking everything can create confusion, it’s better to focus on the indicators that are specific to your practice and your patient population. For example, that could be treatment conversion rate, collection ratios, and variable expenses.

[29:04] Surround yourself with a team that understands your business: Specialization is important for your advisory team, but other team members, like payroll, may not need to have experience with your specific type of practice. Having a solid team can reduce some of the stress of running your own business.

[32:42] Start the transition to your own practice before you launch it: Cultivating a growth team by fostering relationships with people who have a growth curve mindset will help you make the transition to becoming an owner.

💵 Financial Wellness Tip 💵

Having a financial plan leads to better money making decisions, financial stability, and peace of mind. However, according to Debt.com, only 30% of Americans have a financial plan in place. Complete this list of key questions to help get you started organizing your finances.

★    Learn more about clearing out your financial junk drawer.

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

Compliance code: CRN202303-279251

The stigmatization surrounding mental health and suicide was so profound that the school did not even acknowledge this student’s passing. It was then some years later as an internal medical resident that Dr. Myers saw, once again, the imminent threat of poor mental health amongst physicians.

“It was through that, that I got thinking I would like to attempt to be involved in people’s lives before they reach that desperate point,” Dr. Myers says of the experiences that drove him to his current profession.   

In this episode of Prosperous Doc, our host Shane Tenny, CFP^® welcomes Dr. Myers to discuss his new book, “Becoming a Doctors’ Doctor,” and the path that led him to and his work in psychiatric care for physicians.

Dr. Myers also discusses the impact, both negative and positive, COVID-19 has had on physicians and all healthcare professionals. He says the level of work brought on by the virus has certainly caused more work, more pressure, and more isolation for healthcare professionals. He also acknowledges, however, the true grit camaraderie that has blossomed amongst physicians like he has never seen before.

The pandemic has also brought a newfound focus on mental health and self-care. People who spend their lives helping others are finally getting the focus and attention they deserve.

“I think that I've seen big changes. I'm so hopeful about everything. I just feel that despite all of this and what we're going through in the world, I think, in regards to physicians’ health, we're making big strides,” Dr. Myers says.

💡 Featured Expert 💡

Name: Dr. Michael Myers

What he does:  Dr. Myers is Professor of Clinical Psychiatry and recent past Vice-Chair of Education and Director of Training in the Department of Psychiatry & Behavioral Sciences at SUNY-Downstate Health Sciences University in Brooklyn, NY, where he focuses on research and mental health for physicians. 

Company: SUNY-Downstate Health Sciences University 

Words of wisdom: “My line is always the same, ‘Whatever you do, do something.’ Okay?” 

Connect: Website | LinkedIn | Twitter | Book

💰 On the Money 💰

Top takeaways from this episode 

★    Breaking the stigma around seeking mental health help is vital to physicians’ well-being. Medical professionals tend to be perfectionists so they have an internal stigma that tends to make them feel weak, flawed, or inadequate when their mental health starts deteriorating. There is also the external stigma that society has against those who suffer from a mental illness. Until these stigmatizations are eradicated, physicians will be in danger of suffering more.

★    A lot of research has been done, but there’s a long way to go. While conducting research for his book, Dr. Myers interviewed families whose loved ones had died by suicide. Roughly 15% to 20% of the people he spoke with reported that their loved ones had not sought consultation of any kind. Their treatable illness went completely ignored, leading to their death.

★    Whatever you do, do something. If someone, in any walk of life, feels like they need help with their mental health, Dr. Myers advises them to do something. Reach out. Tell someone. Seek help. 

⚡ Prosperous Insights ⚡

[3:52] Background and motivation: After seeing his own roommate commit suicide in medical school and seeing the stress and threat of mental illness plague doctors while on a rotating internship, Dr. Myers was motivated to enter the psychiatry field. A few decades and books later, Dr. Myers is now chronicling his experiences in “Becoming the Doctors’ Doctor.”

[06:38] Community and camaraderie can save lives: In the wake of the COVID-19 pandemic, Dr. Myers explains how he and fellow psychiatrist Dr. Viswanathan start support groups for frontline physicians, including the critical care physicians, the anesthesiologists, trainees, as well as the emergency physicians to find some sort of solace with each other.

[11:44] Doctors are human too: For far too long, doctors and physicians have been pushed like work horses, expected to keep up with new patients and new cases as they present themselves. This mode of work is not sustainable.

[16:14] Changing perceptions on physician mental health: The national medical licensing boards are beginning to look at questions that are giving physicians the opportunity to be more vulnerable about their struggles with mental health.

[24:38] Psychiatrists can learn from their patients: Dr. Myers describes how psychiatrists can become overconfident. The antidote? Humility.

[27:49] Not seeking mental health expertise: A doctor wouldn’t die from cancer without having seen an oncologist at least once. However, often when a physician commits suicide, he or she likely has not sought help from a psychiatrist.

[30:25] How to help: When sufferers begin seeking help, performing simple tasks such as making a phone call can be monstrously daunting. Dr. Myers describes how best to help.

💵 Financial Wellness Tip 💵

Do you have a financial junk drawer? It’s full of things you don’t know where else to put — a 401(k) from an old job, an insurance policy from a college roommate, bank accounts you opened to get a car loan but never use, etc.

The more products, accounts and policies you have, the harder it is to create a centralized vision of — and make progress towards — your financial goals. If you need help organizing your finances, click below.

★    Download our Financial Checklist to get started.  

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

Compliance code: CRN202302-278469

As an interior designer with an interest in leadership development and organizational performance, it was only fitting that Heather help her dermatologist husband open his new practice last year (even though he chose to do so during a global pandemic). 

“We were coming off easily our best year at Mooresville. I wasn't even accepting new patients,” Scott says of his first practice. “It was a little bit both amazing and terrifying — and maybe not the smartest thing to do. And we had to make significant sacrifices.”

Scott says he gives his wife “100% credit” for encouraging him to seize the opportunity when a nearby dermatologist decided to retire. He considers himself “much more risk-averse” than Heather, but with her support and business guidance, they made it happen. For example, she’s the one who realized they needed to purchase the suite next door to have enough room.

In this episode of the Prosperous Doc, our host Shane Tenny, CFP^® welcomes Heather and Scott to discuss why they decided to take the financial risk of opening the new practice and how they successfully blended a staff of new and existing employees. Heather and Scott also talk about how their shared vision and passion for leadership, coupled with their desire to foster a positive workplace culture, helps them work together as a married couple.

💡 Featured Experts 💡

Name: Heather & Scott Paviol 

What she does: As a virtual stager at RoOomy, Heather uses her interior design background to provide 3D modeling and rendering to buyers and agents; she also virtually assists homeowners with interior design. 

What he does: Scott is a dermatologist and the owner of Paviol Dermatology, where he works hard to foster a warm, accepting office culture that encourages professional development. 

Company: Paviol Dermatology 

Words of wisdom: 

Heather: “One of my favorite things that Scott does with his staff — and I'm so proud of because I think it's something that we really believe in — is offering a space where people can make mistakes without being penalized.”

Scott: “I'd put my heart and soul into the current practice, and I'm very attached to the staff there. I've always wanted to leave places better than when I started. I believe that I did that. So that was very calming for me.” 

Connect with Heather: LinkedIn | Instagram 

Connect with Scott: LinkedIn | Instagram

💰 On the Money 💰

Top takeaways from this episode

★    Don’t pass up an opportunity just because your practice is doing well. Scott jumped at the chance to open a practice just minutes from his home because, even though it was doing better than ever, his pre-existing practice was more than an hour from home. He knew he was taking a huge risk — especially during a pandemic — but doesn’t have any regrets because it was a calculated one.

★    Seek out partners who have different strengths than you. Heather purchased the suite next door to the couple’s new practice because she could tell from her design work (just from looking at the office once) that they wouldn’t have enough space. Scott admits he never would have thought of that, and it’s one of many reasons why he needs his wife’s help.

★    Create a culture where it’s OK to make mistakes. At Scott’s practice, he gives out something called the “Band-Aid Award” to the employee who’s done a great job of fixing a recent mistake. Encourage your employees to own their mistakes, learn from them and then move on.

⚡ Prosperous Insights ⚡

[2:43] Listen to the universe when it gives you a sign: At the start of the COVID-19 pandemic, Scott got a letter from a retiring dermatologist trying to sell his supplies. He explains how his life changed forever once he realized the practice that was closing was two minutes from his house.

[7:53] Diving in headfirst: Scott explains why it was Heather’s go-for-it attitude that gave him the courage he needed to purchase the practice in spite of the risk and necessary sacrifices.

[10:28] Expanding before opening: Heather discusses why she knew, before they even opened the new practice, that they needed to purchase the suite next door — which was occupied at the time — for additional space.

[15:02] Growing pains: Heather details what challenges they faced, including leaks, old A/C units and an old-school filing system, in getting the new office opened. Scott also elaborates by sharing his struggles in merging both his new and old staff.

[20:50] Finding her place: Heather explains how she became more involved with the practice. She jokes that before inserting herself, she was offering Scott business advice for free.

[23:11] No separation of church and state: Heather discusses why she thinks blurring the line between home and work life has worked for the couple. Scott explains why having therapists and going to a marriage counselor has helped.

[30:57] Bringing everyone together: Scott explains the leadership approach he’s taken — and what his weaknesses are — when it comes to building a culture in his new office, and Heather adds what she admires about his approach (such as the “Band-Aid Award”).

💵 Financial Wellness Tip 💵

Do you have a financial junk drawer? It’s full of things you don’t know where else to put — a 401(k) from an old job, an insurance policy from a college roommate, bank accounts you opened to get a car loan but never use, etc.

The more products, accounts and policies you have, the harder it is to create a centralized vision of — and make progress towards — your financial goals. If you need help organizing your finances, click below.

★    Download our Financial Checklist to get started.  

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

Compliance code: CRN202302-278065

He's also back in school, but this time for something entirely different: an MBA. Dr. Natwa returned to school in part so he could get a better understanding of how the healthcare system worked from a business perspective and channel that into opportunities for himself.

Attending business school allows Dr. Natwa to meet many entrepreneurially-minded people, giving him the opportunity to invest in their projects: "That's my goal with the MBA, on top of just the benefit of it being educational is to hopefully get involved with a couple of different ventures that will help increase some passive revenue for me going forward," he explains.

Ultimately, Dr. Natwa hopes that learning about business and earning money outside of his day job can help him become a better doctor overall.

"A lot of times we start being held at the whim of the overseer, of the hospital system in terms of our output," he says. "It would be very nice to just have a side passive income that we were able to not have to worry about having to meet quotas and able to just see the amount of patients that we want to see and provide good care."

In this episode of the Prosperous Doc, host Shane Tenny, CFP^® chats with Dr. Natwa about his sports medicine work and what he hopes to accomplish with his MBA. They also discuss social media for doctors, the advantages to earning a passive income, advances in telemedicine, and how to deal with patients armed with internet theories.

💡 Featured Expert 💡

Name: Dr. Nithin Natwa

What he does: Based in Detroit, Dr. Natwa works as a double board certified physician in sports and family medicine. He's also pursuing an MBA at the University of California, Los Angeles.

Company: Henry Ford Health System

Words of wisdom: "[Sports medicine] brought an appreciation to the fact that not everything important in life is about life or death. There are a lot of things out there that might seem mundane to the average person, but that are honestly life altering to a specific person."

Connect: Website | Instagram | Twitter | Facebook | LinkedIn

💰 On the Money 💰

Top takeaways from this episode

★    The neat thing about sports medicine? Patients are motivated. Convincing patients to take your advice isn't always easy. Not every patient with a sweet tooth is willing to switch to a healthier diet to prevent diabetes or heart disease, for example. But athletes depend on their healthy bodies for their livelihoods, which means that they're much more willing to take a physician's guidance.

★    The pandemic has accelerated health technology. A silver lining of the COVID-19 pandemic is the rise of virtual health, Dr. Natwa says. Although doctors have been visiting patients through telehealth for years, it's now become a mainstream part of healthcare — and that's good for both patients and doctors who want more efficient care.

★    Find other streams of income. Dr. Natwa has met entrepreneurs through his MBA program, and it has given him opportunities to invest in his classmates' business ventures. The stable income he earns as a physician allows him to take greater risks in those investments too.

★    Doctors can be influencers too. Many doctors have taken advantage of platforms like Instagram, YouTube, and TikTok to build up audiences and develop brands of their own. Eventually, they can monetize this brand; Dr. Natwa hopes to keep growing his fantasy football Instagram account so that he can eventually build another income stream through social media.

9

⚡ Prosperous Insights ⚡

[5:16] Collegiate athletes are great patients: That's why Dr. Natwa describes why he prefers working with college athletes. He notes that professional athletes are mostly concerned with being in peak physical condition instead of focusing on long-term health; as adults, they're more likely to dismiss doctors' advice.

[11:03] Telemedicine is beneficial to the patient: Although patients tend to be skeptical about the quality of care they might receive through telemedicine, Dr. Natwa says they receive the same quality of care as in-person visits. In fact, telehealth appointments can help doctors work more efficiently and cut down on appointment wait times.

[13:15] Correcting myths about sports injuries: Dr. Natwa discusses what it actually takes to heal a strained muscle — no medication is going to cure that ankle sprain or knee injury.

[15:27] Esports is a huge industry, and it needs physicians too: Some might dismiss esports as "just video games," but it's really an untapped, multimillion-dollar industry, Dr. Natwa says. Doctors are needed for conditions like thumb sprains, carpal tunnel, tennis elbow, and neck injuries.

[16:44] There's a correlation between esports and mood disorders: These mood disorders might be connected to a number of factors, like lack of social interaction or bad lighting.

[18:13] Younger patients love to weigh in on their diagnoses. Talk to them differently: Unlike older patients who tend to be deferential to doctors, millennials and Generation Z are much more likely to look up their condition online and weigh in during a doctor's visit.

[27:40] Health tech is a booming industry: Doctors can leverage their medical knowledge by taking on related professional roles, like sitting on a health technology advisory board.

[30:03] An MBA can lead to more opportunities in healthcare: While pursuing his MBA, Dr. Natwa is learning about operating, marketing and finance — all subjects that would allow him to transition to a part-time management role and climb the healthcare administrative ladder.

[32:20] Social media is about building trust: Developing a presence on social media isn't just about tallying up followers. If you share foundational medical knowledge, you're likely to get followers who are interested in health and wellness.

##

💵 Financial Wellness Tip 💵

There are three important I's when it comes to retirement planning: how you’ll replace your income, where you’ll find your identity, and where you’ll find your influence. As you plan for retirement, make sure to identify ways to replace all of the components that have been meaningful in your work. Together, these ingredients will help ensure the prosperous retirement that you've longed for.

★    Take our free retirement readiness quiz to learn more.

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP ® at shane@whitecoatwell.com or on Twitter.

Compliance code: CRN202301-276399

Dr. Zhu's mother practiced Chinese medicine, an ancient practice that focuses on finding balance within the body. Now Dr. Zhu incorporates this philosophy into his own work.

"She instilled in me how to look at the person, the patient, in a very holistic way. So, she instilled in me prevention, wellness, compassion, listening to the person. And so those were the values and skill sets that I've brought with me and that's the direction that I took going into medicine," he says.

Dr. Zhu is a board-certified physician who practices family medicine in Los Angeles. He also practices lifestyle medicine, culinary medicine, and what he calls "thrive medicine," in which he encourages people to live with vitality. He's written a book about his medical practices: “Thrive Medicine: How To Cultivate Your Desires and Elevate Your Life.”

Dr. Zhu approaches his patients by searching for the root of their problems rather than treating them at the surface level. For instance, he might connect with a distracted teenage patient about their neglectful home situation instead of simply prescribing anxiety medication.

"What I love to do … is connecting the dots for people," Dr. Zhu says. "And usually when people come to me for a certain complaint or problem, there's usually a deeper underlying source to their concern, pain, or struggle, that's not really connected with why they come in."

In this episode of the Prosperous Doc, Dr. Zhu chats with our host Shane Tenny, CFP^® about the ways that he incorporates his various medicines into his practice, and how culinary medicine can help people live more fulfilled and healthy lives. He also talks about how the COVID-19 pandemic has exposed gaps in the U.S. healthcare system, and how we as a society can work to improve it.

💡 Featured Expert 💡

Name: Dr. Colin Zhu

What he does: Dr. Zhu works as a board-certified family physician in Los Angeles, who incorporates culinary, lifestyle, and thrive medicine in his practice. He also hosts the Thrive Bytes podcast.

Company: TheChefDoc

Words of wisdom: "Most of modern medicine is really mopping up what floor instead of turning off the faucet. What I love doing is helping [patients] turn off the faucet."

Connect: Website | Facebook | Instagram | YouTube | LinkedIn

💰 On the Money 💰

Top takeaways from this episode

★    Find the root of the problem. For Dr. Zhu, prescribing medication is only a small piece of the puzzle in treating a patient's disease. For a patient to truly heal, it's important to discover deeper factors, like relationships, food, or exercise. While in medical school, Dr. Zhu told a diabetic patient to start daily walks in conjunction with his special diet and medication. The result: The patient's diabetes score dropped by three points.

★    Avoid "food outsourcing." Don't trust restaurants — and especially fast food joints — to give you the nutrients you need. Eating out, Dr. Zhu says, is essentially "food outsourcing." Instead, he recommends people make their meals at home so they know exactly what goes into their meals.

★    Lifestyle medicine takes a holistic approach. Lifestyle medicine is based on six pillars: diet, physical fitness, relationships, community, avoiding risky substances, and sleep. When people find balance in these areas, they can live a healthier lifestyle overall.

★    Live with vitality. Dr. Zhu calls this "thrive medicine," or a prescription to live life outside the bounds of a standard recipe. When people follow the thrive medicine approach, they can not only live well, but also flourish.

⚡ Prosperous Insights ⚡

[02:42] The value of Chinese medicine: This ancient form of medicine focuses on instilling balance into the human body. Dr. Zhu incorporates Chinese medicine into his own work by examining his patients holistically and listening to them with a sense of compassion.

[04:11] Medical school doesn't teach you everything: While in medical school, Dr. Zhu soon discovered that his courses didn't teach enough about disease prevention, nutrition, and lifestyle. So Dr. Zhu decided to supplement his medical education with additional credentials, like culinary school and health coaching.

[06:33] Cook at home: When you make your own meals in your own kitchen, you know exactly what's going into your body. That can lead to healthier choices overall. Dr. Zhu describes cooking nutritious meals as culinary medicine, or "taking back your health."

[10:05] Using an evidence-based lifestyle approach to treat disease: Taking a holistic approach to health means looking at many components of a person's life — like relationships, stress, and diet — to assess chronic diseases.

[14:48] Going plant-based doesn't mean you'll struggle to get nutrients: Dr. Zhu says the biggest myth associated with a plant-based diet is that it doesn't give people optimum nutrition. With a mix of fruits, vegetables, nuts, seeds, beans, whole grains, and legumes, it's easy to eat a well-balanced diet.

[25:25] The pandemic has exposed health disparities: The pandemic revealed the gaps in the healthcare system, especially for BIPOC, who are disproportionately becoming sick and dying due to the pandemic. But Dr. Zhu remains optimistic that now that those gaps have been exposed, we can work to fix the system.

[26:28] Advancing healthcare research is a good thing — and there's potential for more: Over 350,000 people have died of COVID-19 in the U.S. in the past year. About 655,000 people die of heart disease. Dr. Zhu hopes that the advances in medicine because of the COVID-19 pandemic will carry over to other areas.

💵 Financial Wellness Tip 💵

There are three important I's when it comes to retirement planning: how you’ll replace your income, where you’ll find your identity, and where you’ll find your influence. As you plan for retirement, make sure to identify ways to replace all of the components that have been meaningful in your work. Together, these ingredients will help ensure the prosperous retirement that you've longed for.

★    Take our free retirement readiness quiz to learn more.

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

Compliance code: CRN202212-276329

“There is inherent value in speaking to a healthcare attorney to understand the anatomy of the contract, the nuts and bolts, and primarily what are your rights under the contract?” Anu says. “But also what are your responsibilities under the contract? You may not be able to negotiate very much in terms of language, but you could negotiate some compensation matters.”

In this episode of the Prosperous Doc, our host Shane Tenny, CFP^® welcomes Anu to discuss how to get the most out of a contract negotiation (particularly with the help of a healthcare attorney) and how to legally pick up a side hustle if the COVID-19 pandemic has impacted your pay. Just like small business owners, she says it’s important for physicians to keep track of their expenses and take-home pay.

Anu also discusses what to keep an eye on going into 2021, particularly in terms of potential Medicare changes and Stark Law reform.

“Even patients that are in traditionally non-rural areas are going to have access to telemedicine and physicians, including procedural specialists as well … [so] we'll see higher reimbursements for telemedicine. The other issue that often comes up is just the furnishing of wearable devices, like a smartwatch or some kind of a monitor, etc. Cardiology sees this as well, that they're able to provide those to their patients. And it won't be considered illegal or run afoul of Stark Law. … The new Stark Law again is going to be more in line with the way that physicians practice and where patients are today.”

💡 Featured Expert 💡

Name: Anu Murthy

What she does: As a healthcare attorney and practice consultant, Anu focuses exclusively on physician, dentist and advance care practitioner employment contracts, partnership agreements and other practice-related business matters.

Company: Physician Coaching Alliance

Words of wisdom: “I think that it's really important at the outset to understand how your compensation methodology works. … So first and foremost, get a good understanding of that. Sit down with the folks at the health system and have them explain it to you in real numbers.”

Connect: Bio (If you’d like to contact Anu while her website is under construction, you can reach her at anuesq@yahoo.com.)

💰 On the Money 💰

Top takeaways from this episode

★    Healthcare attorneys will make sure you’re properly compensated. When faced with a new employment contract, Anu says attorneys like herself know what to negotiate based on how the market is looking in your area.

★    Know your contract before taking on a side gig. Anu recognizes that many physicians have been furloughed or even laid off due to the pandemic. For those looking to make some money on the side, she advises using an attorney and accountant to do so legally and in a way that will be financially healthy.

★    Stay on top of your money. Anu recently had a client who was underpaid for months because of an accounting error. To avoid similar issues, she suggests remaining organized and keeping track of your take-home pay.

★    Pay attention to the news and how it might affect you. Anu argues that the new presidency won’t have an immediate impact on physicians. However, medical professionals should keep their eye on potential changes that could end up having a long term impact on your pay, such as President-elect Biden’s idea to change the Medicare age to 60 as well as possible Stark Law reform.

⚡ Prosperous Insights ⚡

[02:29] The benefit of a healthcare attorney: Anu says there will always be things physicians can’t negotiate in a contract. Nonetheless, there are some things you can negotiate based on what the market is like, and healthcare attorneys will know to look for these details.

[06:05] Non-compete clauses aren’t always what they seem: If you can’t live with the non-compete clause written in your contract, Anu says not to sign it. They’re not always easy to negotiate out of, but she’s had a recent client who succeeded in doing so because COVID-19 caused her place of employment to close.

[08:02] Get it in real numbers and writing: Anu argues that physicians are like small business owners because they must monitor their expenses. It’s important to stay organized so you can go into a meeting with an employer with hard facts and numbers.

[11:48] Know your rights and when they’re violated: Anu explains the details of what a breach in contract is — aka when one party is not keeping their end of the bargain.

[17:39] The effects of COVID-19: Anu explains an issue a lot of furloughed physicians are facing as a result of the pandemic: employers terminating without giving proper notice.

[21:38] Side hustles can work with contracts: Physicians who want to make up lost income by starting a side hustle should work with an attorney and accountant, Anu argues, to make sure they’re going about it in a legal way (if their contract allows them to do it at all).

[25:24] Looking ahead to the new administration: Anu argues that the change in presidency won’t have a dramatic effect on healthcare legislation and explains why.

[28:16] Stark Law reform: Anu explains this 30-year-old piece of legislation and why it’s back in popular conversation in the healthcare field.

💵 Financial Wellness Tip 💵

There are three important I's when it comes to retirement planning: how you’ll replace your income, where you’ll find your identity, and where you’ll find your influence. As you plan for retirement, make sure to identify ways to replace all of the components that have been meaningful in your work. Together, these ingredients will help ensure the prosperous retirement that you've longed for.

★    Take our free retirement readiness quiz to learn more.

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

Compliance code: CRN202212-275281

“Basically from that day forward, any break that I had from school all throughout undergrad, I was in the office working as an assistant, scrubbing dirty instruments, scrubbing floors, — whatever was needed — just to try to soak up as much of that as I could,” Dr. Randall says. “It was love at first sight, I guess.”

In this episode of the Prosperous Doc, our host Shane Tenny, CFP^® welcomes Dr. Randall to discuss his path into healthcare — which he almost didn’t take because of his other passion, aviation. Dr. Randall shares how, upon moving to Chattanooga, Tennessee, he put out feelers to find a practice he could take over, and how he then got to know its employees and helped them grow while growing alongside them.

Dr. Randall also discusses his journey from never reading a single textbook with a dollar sign in it to running his own successful business. He says it was possible by researching topics such as savings, salary and debt management, along with the compounding of money.

“I think when you look at the value of compounding over time, it certainly made sense to find somebody that could help make those decisions and put us in a better place at the end of our careers, when it was finally time to retire,” he says.

💡 Featured Expert 💡

Name: Dr. Ken Randall

What he does: As the head of Tennessee River Dental, Dr. Randall works to provide his patients with the best possible care, which includes both administering that care himself and advising the dental hygienists and assistants in his practice.

Company: Tennessee River Dental

Words of wisdom: “If you're afraid of failure, if you're afraid to not get there, those opportunities may not ever become available. So don't be afraid to fail. Try it, and if it doesn't work out, learn from it and move on. And do even better next time.”

Connect: Website

💰 On the Money 💰

Top takeaways from this episode

★    Choose the path that’s best for you and stick to it. It only took four hours helping out in his grandfather’s dental practice for Dr. Randall to decide dental school — rather than medical school — was right for him. And he believes he was successful in his ultimate goal to own his own practice because he didn’t give up once his mind was made up. Dr. Randall didn’t let the fear of failure get in his way, which he says is key.

★    Don’t be afraid to switch things up. Dr. Randall didn’t avoid performing certain procedures just because his predecessor didn’t do them. Instead, he listened to his gut and used his training to expand the practice’s offerings, warming up to his new coworkers along the way by taking an interest in what they excelled at and what skills they wanted to improve.

★    Make the most of the hand you’re dealt. Like the rest of the world, Dr. Randall didn’t expect a global pandemic to temporarily shut his business down. But when he was forced to close, he chose to use that time for extensive training and office organization rather than moping.

★    Understand the value of time and money. Dr. Randall was able to thrive during a global pandemic because he focuses on compounding his earnings. Do your research and learn the benefits of reinvesting.

⚡ Prosperous Insights ⚡

[04:57] A long, long trail a-winding: Dr. Randall knew he was going to study chemistry in undergrad, but his path to dental school rather than medical school started with a relaxing vacation-turned pseudo internship.

[09:51] Less hand-holding, more self-reliance: According to Dr. Randall, there is a wide range of dental programs and optional residencies that will lead you on different paths. He chose a GPR hospital residency that led to a two-year stint in Alabama while his wife, who is also a dentist, finished her residency before moving on to private practice.

[18:53] Do your homework: If you’re considering taking over someone else’s practice, know what you’re getting into. Research everything, especially if you’re working with another company that is brokering the deal.

[21:56] Transitions can be rough, so be graceful: The dentist whose practice Dr. Randall took over didn’t let her employees know until a couple weeks before she left. In spite of their initial surprise, Dr. Randall gained the employees’ trust by taking all of them out for coffee individually to get to know them.

[24:53] Wing it, but be intentional: Dr. Randall didn’t know the first thing about business when he took over the aforementioned practice, but even without formal training, he was able to use his resources — both within his family and outside — to make it work.

[25:56] Read for knowledge: Dr. Randall cites “The Millionaire Next Door” as a book that was instrumental in helping him better understand personal finance.

[29:27] Don’t worry about precedents — change can be good: Dr. Randall took over for a dentist who was doing very few procedures in house. However, thanks to his training, he knew how to do a great deal, so he expanded the office’s offerings and found success.

[30:54] Weathering the storm: Dr. Randall and his employees have endured the craziness of 2020 by focusing on opportunities in the middle of a bad situation.

[33:06] Don’t fear failure: How can failing make you better? Dr. Randall says he learned a lot about dealing with failure from the book, “Failing Forward.”

💵 Financial Wellness Tip 💵

There are three important I's when it comes to retirement planning: how you’ll replace your income, where you’ll find your identity, and where you’ll find your influence. As you plan for retirement, make sure to identify ways to replace all of the components that have been meaningful in your work. Together, these ingredients will help ensure the prosperous retirement that you've longed for.

★    Take our free retirement readiness quiz to learn more.

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

Compliance code: CRN202211-275080

Dr. Uli Chettipally once made the CEO of the company he worked for stop him mid-presentation because he dropped a figure that was so jarring: “50% of what happens in a typical U.S. clinical practice is unnecessary, ineffective, or dangerous.”

This isn’t just Dr. Chettipally’s opinion, it’s a statement backed by much of his own research as well as others’ on the downsides of America’s most common business model of healthcare: the fee-for-service system.

In this episode of the Prosperous Doc, our host Shane Tenny, CFP^® welcomes Dr. Uli Chettipally to discuss his research through the CREST Network project, which harnesses the power of data to help physicians make data-backed decisions about treating patients. Once this technology was implemented at Kaiser Permanente, the average length of stay in the emergency department decreased, hospital admissions decreased, and post-discharge testing decreased.

Dr. Chettipally is the Founder and President of InnovatorMD, a platform aimed at inspiring innovation in healthcare. In the episode, Dr. Chettipally also discusses his book, “Punish the Machine,” the clash between insurance carriers and physicians and why it’s important to “follow the money” when trying to implement new technology in the healthcare field.

💡 Featured Expert 💡

Name: Dr. Uli Chettipally

What he does: As the Founder and President of InnovatorMD, Dr. Chettipally works to spread innovation from a physician's perspective through the written word, presentation videos, live events and one-on-one consultations. He’s also the Founder of the Society of Physician Entrepreneurs in San Francisco.

Company: InnovatorMD

Words of wisdom: “Let's make the technology work harder. Let's punish the machines so that the doctors can be helped. Don’t punish the doctor, punish the machine so that patients can be saved and better health outcomes can be achieved through this technology.”

Connect: LinkedIn | Twitter

💰 On the Money 💰

Top takeaways from this episode

★    Healthcare is most effective when providers take full responsibility for the care of the patient in a value-based care model. The American healthcare system is overwhelmingly fee-for-service, meaning that providers are paid according to how much they treat a patient rather than the treatment outcomes. Dr. Chettipally sees value-based care as the answer because “you make money when the patient is healthy, that means that you will figure out ways to keep the patient healthy.”

★    Technology has the potential to help doctors find the sweet spot between under-treating and over-treating patients. Dr. Chettipally and his colleagues on the CREST Network project have successfully developed technology that analyzes patient data to help ensure patients are discharged from the hospital at appropriate times and prescribed the most effective medicines.

★    Physicians are getting burnt out, but technology can help. Healthcare providers are currently running on a treadmill they don’t control, Dr. Chettipally argues, and they don’t feel like they’re making a dent in the broader health landscape. We will always need physicians, he adds, which is why we need to make their jobs more effective by giving them technology that helps them improve care. “You will always need physicians. It's like, you have GPS, but you still drive the car. Even if you have a self-driving car, you still sit at the wheel,” he explains of the changing role of doctors.

⚡ Prosperous Insights ⚡

[3:44] The business model of healthcare: In the U.S., fee-for-service is common, which is designed for physicians or other providers to prescribe more medicines, do more surgeries, put more people in hospital beds, etc. It is not designed to focus on treatment outcomes.

[5:17] The value-based care difference: Dr. Chettipally explain this model of care in which providers make money when the patient is healthy and how it can help medicine.

[12:16] Unlocking the power of data: Dr. Chettipally’s career changed when he went to work for Kaiser Permanente — this was the beginning of his deep dive into the role of data and artificial intelligence in healthcare.

[14:20] Leveraging data for better care: Dr. Chettipally discusses the development of the CREST Network, a software platform to help physicians use data insights to deliver better patient care outcomes.

[24:00] What’s the future of medicine?: Dr. Chettipally was inspired to write his book, “Punish the Machine,” while working at Kaiser. The book explores the question: “What if we had really high power algorithms, like how Google or Netflix or Apple have, and implemented that in healthcare?”

[32:13] On aligning financial incentives in healthcare: It's the responsibility of the payers to see what they’re getting for their money and to determine if there is a better way of doing it, says Dr. Uli.

[33:20] Harnessing physician innovation: Dr. Chettipally’s career took another turn when he founded his current company, InnovatorMD, which helps to elevate the voice of physicians and their innovations.

💵 Financial Wellness Tip 💵

As you plan for retirement, don’t forget to identify ways to replace all of the components that have been meaningful in your work, income, identity and influence. These ingredients together will help ensure you have the prosperous retirement you envision.

★    Take our free retirement readiness quiz to learn more.

Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

Compliance code: CRN202211-274480

In this episode of the Prosperous Doc, our host Shane Tenny, CFP^® welcomes Dr. Ernesto Gutierrez to discuss personal branding, how to acquire more patients, and how to leverage social media. As the owner of the Practice Growth Formula, Dr. Gutierrez teaches doctors how to grow their practice with his personal branding and digital marketing expertise.

Dr. Gutierrez shares his personal struggle of taking over a failing medical practice in Cancun, which was close to shutting down.

He also reveals impactful advice he received from his father that helped him realize he wasn’t just the medical provider. As the practice owner he had be the entrepreneur and understand how to run and market the business.

Highlights from the episode:

• What is personal branding and how can a doctor use it to get more patients? (8:22)
• Why is it important for doctors to build their personal brand? (11:51)
• What’s involved in personal branding? (16:46)
• The first step in personal branding (17:30)
• Maintaining consistency in your marketing efforts (20:14)
• Is a podcast right for your practice? (21:42)
• What are the best social media channels for doctors? (25:55)
• The best methods for monetizing your personal brand (29:34)

Financial Wellness Tip

On today’s financial wellness tip, Will Koster CFP^® tells us that preparing for retirement is not just about your 401k or having some passive income. Download the SDT Retirement Checklist to find out if you’re on track for a stress-free retirement.

To learn more about Dr. Ernesto Gutierrez and The Practice Growth Formula or to get more information on how to develop your personal brand, visit pgformula.com. Dr. Gutierrez is also the host of the Highway to Health Podcast.

Resources mentioned:

The Compound Effect, by Darren Hardy

Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

Compliance code: CRN202211-274032

Today's topic, I have felt compelled to address for a number of months now, but frankly didn't know how or where to begin... Today, we're going to talk about racism. Now, candidly, I've been nervous to address this on this show because of a number of reasons. I'm a middle-aged white guy with no training on the topic or in social justice, and I'm not even sure I have the right vocabulary to use. If I'm as honest about the topic as I want to be, and as I wish people were, I know I've got blind spots in my own life when it comes to racism and implicit bias. But I want to do my part to try and change the tone in our country around this.

Shane welcomes Dr. Aaron Brandt, a pediatric orthopedic surgery fellow at Children's Hospital Colorado, to share his story and provide his personal experiences navigating growing up as black man in the United States and practicing in the medical field.

Dr. Brand reveals his story of adoption; being part of a family of twelve where everyone was different, with drastically diverse backgrounds. At home he didn’t feel atypical, but in primary school he soon realized his classmates saw him, the only black child in the school, as different. “I was also taller than everybody, so I stood out like a sore thumb.” (7:18)

Dr. Brandt explores the media events that took place this year surrounding the Black Lives Matter movement, discusses the concepts of racism and antiracism, and reveals his personal battles with imposter syndrome.

Highlights from the episode:

• Growing up as an adopted black child in a rural community (3:23)
• The current state of racism in society (17:16)
• Racism & anti-racism (22:27)
•  Dr. Brandt’s personal experience with racism (28:17)
• Overcoming Impostor Syndrome (32:07)
• How Dr. Brandt approaches and manages bias (37:16)

Financial Wellness Tip

On this episode’s financial wellness tip, Will Koster talks about asset location. “Is the majority of your wealth tied up in your house? How about in your pre-tax retirement account, like a 401(k) or an IRA? Or have you been planning ahead and have a good mix of assets across different types of accounts?” (25:49)

A few tips to consider:

• Having a combination of pre-tax and tax-free money available is invaluable when it comes to withdrawing money in retirement.
• t is important to have ample liquidity in retirement because selling tangible assets to fund your living expenses in retirement is not something you want to rely on.
• Having the appropriate amount of risk in your account is necessary to keep up with inflation, but your account balances should not be too exposed to market fluctuations.
• If you need help with your retirement planning, check out some of our complimentary financial resources.

To read more about Dr. Aaron Brandt’s story, check out his article ‘My parents had over 30 temporary placements and adopted 9 children. I struggled with my identity. I didn’t fit.’: Man thanks adoptive family, ‘I’m meant to do something important’.

If you liked this episode and would like to hear more about Impostor Syndrome, check out our past episode Overcoming Impostor Syndrome in Medicine with Dr. Gail Gazelle.

Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentist to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentist in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter. 

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On this episode of Prosperous Doc, we welcome Dr. Gail Gazelle, assistant professor at Harvard Medical School and Master Certified Coach, to explore impostor syndrome among physicians. Dr. Gazelle examines the causes and symptoms of imposter syndrome, but also outlines her approach for overcoming these demons of self-doubt.

Dr. Gazelle shares her personal experience of chancing upon mindfulness coaching and the benefits she reaped from the process, “[i]t helped me work with my inner workings, getting to know them more. And I felt a sense of almost leapfrogging forward with some of the things that had held me back. So I was inspired to become a coach.” (2:49). 

During her practice as a doctor and a coach, Dr. Gazelle encountered a myriad of doctors and physicians struggling with crippling self-doubt and feelings of fraud or not being good enough. Discovering this problem and no adequate existing solution, Dr. Gazelle set out to attack the problem herself. She defines imposter syndrome as “the belief that what we know is minuscule and what our peers know is massive…that it's only a matter of time until we're found out. And once we are, we will be the laughing stock of our institution.” (4:57)

Doctors and physicians are far from unique in this experience, with seemingly unflappable public figures such as Michelle Obama and Jodie Foster revealing their own struggles with imposter syndrome. Dr. Gazelle stresses that in order to overcome imposter syndrome, you must realize you are not alone. “We feel so isolated and this voice of ‘you're an imposter, you're not as good as others’ leaves us feeling like it's just us. So, [it’s] very important that we can remind ourselves, this is not just me.” (15:14) 

Dr. Gazelle also addresses the connection between impostor syndrome, resilience, and COVID-19. Learn more about these topics in her book Everyday Resilience.

Financial Wellness Tip

This episodes’ Financial Wellness Tip encourages physicians to always thoughtfully consider the factors involved in lucrative investments before committing. While there’s nothing wrong with dreaming of an early retirement or having alternative streams of income, these are a few factors to consider first:

• While you often hear the success stories, don’t forget the far more frequent failed ventures that set families back and erase years of hard work.
• There are prudent opportunities to consider, such as buying into a surgery center that still come with risks
• Always onsider discussing your investment strategy and buy-in opportunities with an experienced financial professional.

To learn more about Dr. Gail Gazelle visit her gailgazelle.com. Purchase her book or start here to read a free chapter. You can also connect with Dr. Gazelle on Facebook, Twitter or LinkedIn @GailGazelleMD

Want to know more about about investing in a surgical center? Visit Buying Into a Surgery Center and The Pros & Cons of a Surgery Center.

The Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentist to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentist in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter. 

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In this episode of Prosperous Doc, our host Shane Tenny is joined by Dr. Stacia Dearmin, a pediatric physician who faced an unfortunate patient outcome. In 2012, Dr. Dearmin checked on a young woman in the emergency department and, after her examination, concluded the best course of action was to send her home to finish recovering. The next day Dr. Dearmin found out the young woman had been admitted to the ICU.

The young woman had suffered a cardiac arrest and stopped breathing; Dr. Dearmin knew the potential outcomes for this patient were grim. She was devastated, “I began to question what, if any responsibility I had for her death. I began to question my competence as a physician. I felt ashamed, I felt guilty, I grieved her death, I grieved my own sense of myself as a competent physician, and really struggled with these difficult feelings for much longer than I think I might have anticipated. I really didn't know how to understand the experience I was going through.” (5:32)

A year later, Dr. Dearmin herself, was facing medical malpractice litigation. While the verdict was unanimously in her favor, prevailing in the lawsuit did little to ease the stress of the ordeal. “I felt critical of myself that I wasn't shaking it off, and that caused me to question even further, ‘do I belong in this profession?’ I see now that all that emotion is actually very closely tied to how seriously we take our work.” (10:39)

During her struggle, Dr. Dearmin found comfort in the essay To Err is Human, by Dr. Albert Wu. Dr. Wu “identifies the victim as a physician or other healer who has injured themselves when something bad happens or nearly happens to a patient and that physician has made or fears that they've made a mistake.” This essay was powerful for Dr. Dearmin because it described the emotional experience she was having. She discovered she was not alone. “Oh, that's me. I'm not weak. I'm not badly suited to medicine. I'm reflective, and we don't want the reflective people to all abandon medicine." (11:19)

The works of authors Brené Brown and Sidney Dekker also provided Dr. Dearmin a sense of peace. In their books she found words that allowed her to name her experience. “[I]t is powerful to have a vocabulary for these experiences because if I'm able to name my experience, just like Dr. Wu was able to name my experience, you realize, ‘oh, I'm not so alone in this. This is actually commonplace.” (17:02)

Financial Wellness Tip

This episode’s Financial Wellness Tip focuses on physicians’ and dentists’ desire to purchase homes after finishing school. Will Koster, CFP^®, recommends three often under-discussed factors when buying a house, before making a hasty purchase:

1. Hidden costs. The maintenance on a house can be sneaky expensive.
2. Paying 6% of the sales price for a realtor to help you sell your house can often be a wise investment in order to save time, hassle, and to get you a higher price for your home.
3. Lack of diversification. Oftentimes when a young person buys a house, it immediately becomes the overwhelming majority of their assets. (19:55)

For more information on Dr. Stacia Dearmin or to view her resources and support for physicians facing malpractice litigation, visit thrivephysician.com

If you enjoyed this episode of Prosperous Doc, you might also like Finding Freedom and Balance as a Locum Tenens Doc, with Dr. Nii Darko

Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentist to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentist in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP atshane@whitecoatwell.com or on Twitter.

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On this episode of Prosperous Doc, we welcome Dr. Leah Houston, a Locum Tenens doctor who faced the stressful ordeal of having her physician identity stolen and abused. After pursuing litigation to resolve the matter, Dr. Leah Houston asked herself, “How many people is this happening to every day who haven’t left the state? How many people is this happening to who are just working in a hospital, not even knowing that their professional brand and their credentials are being used on patients that they don’t even know about?” (5:52)

As a result of this ordeal, Dr. Houston became curious about stolen identity and fraud and began to investigate, discovering Self Sovereign Identity. Self – as in, it’s yours, sovereign - owned and controlled by you, identity, “it defines who you are digitally.” (7:47) Understanding how powerful this resource could be, Dr. Houston founded HPEC (Humanitarian Physicians Empowerment Community), a software service where all the information regarding both doctor and patient is stored; this way, if a person goes to a clinic, they provide their doctor with their personal data without having to go through the tedious process of document transactions. This ensures all of your information is in your control.

“We’re creating a decentralized network of physician services, where all of the physicians’ specialists can come together, can own their identity, own their right to work, kick out the third parties who are not only lacking value, but essentially are surveilling and capitalizing off of our practice and suffering of our patients really is what’s going on. And we can restore autonomy and trust and privacy to the doctor, patient relationship again, that’s what this is about.” While the infrastructure of the medical industrial complex is resistant to change, Dr. Houston believes there is hope in this new technology to fix the system. (13:29)

Financial Wellness Tip

This episode’s Financial Wellness Tip focuses on the student loan arena. Ever since the CARES Act suspended payments in late March 2020 to address the COVID-19 pandemic, many question what their payments should be. Here are a few things you can do to help your case: (1) obtain a copy of your payment history; (2) be sure to recertify your income and submit your employment certification form at least annually, or whenever you switch employers; and (3) be sure to find a source for up to date information, whether that’s your loan servicer, a conventional news outlet, or a trusted advisor who specializes in student loans. (16:30)

For more information on Dr. Leah Houston’s organization HPEC, visit hpec.io or find her on social media @LeahHoustonMD on Facebook and Twitter.

Want to find out your student debt game plan? Take our Student Loan Quiz and figure out the best student loan repayment option for you.

Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentist to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentist in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP atshane@whitecoatwell.com or on Twitter.

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Dr. Jason Goebel, known in some circles as the Godfather of Contract Negotiations, found himself in a similar situation. On this episode of Prosperous Doc, our host Shane Tenny speaks with Dr. Goebel about his experience navigating various employment contracts throughout his career.

Because employment contracts are often drafted by employers and presented to physicians as standard contracts, physicians can feel compelled to sign documents they may not fully understand. Dr. Goebel stresses that you should read through your contract multiple times, highlighting questions and areas of particular concern. Dr. Goebel also recommends negotiating individual terms in the contract. Employers are generally amenable to modifying terms if you present a rational reason. (26:01)

If physicians don’t understand or are uncomfortable with the review process, Dr. Goebel urges them to consider hiring an attorney to review their employment contracts. Experienced employment attorneys can help you understand legal jargon and suggest contract modifications based on your individual circumstances.

Dr. Goebel also recommends paying special attention to your bailout plan. What happens if you choose to leave? How enforceable is the non-compete agreement? “Does this contract allow you to do what your plan B would be if you have to get out of the contract?” (40:59) “That's probably more important than anything that's actually in the contract because if you get into an agreement and you either can't get out of it, or if you get out of it, you get crucified trying to get out of it and you can no longer provide for your family, then the contract's worthless.” (25:05)

Ready to take your wellness game to the next level? Subscribe to our Prosperous Doc newsletter HERE.

Like this interview with Dr. Goebel? Check out our episode Financial Pressures Influencing Physicians with Dr. Sanjiv Lakhia.

Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentist to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentist in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

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In this episode of Prosperous Doc, host Shane Tenny speaks with Michelle Mudge-Riley, a.k.a. The Doctor’s Doctor, about her experience leaving clinical practice and how she’s helping other doctors do the same. She shares her story of leaving medicine and created a business by helping other doctors who’ve been through similar situations.

A number of factors, both internal and external, can leave clinicians feeling like a failure for wanting to leave medicine. Because medicine requires a laser focus, doctors often fail to realize that there are a multitude of options available for people with their education and training. (9:25) She says, “Once you realize what's out there, you then realize how much more is out there.” (10:00)

Not all doctors Michelle works with want to leave medicine, some are simply burned out and seeking change or supplemental non-clinical work. With that in mind, she shares some of the key indicators she uses to help doctors discern the right path for them. Michelle says “the most important thing is to hear their story and to talk with them and to provide a safe place for them to talk things out, because ultimately at the end of the day, each person sort of knows which path they need to take.” (15:07) Not everyone needs or wants to completely transition out of medicine – they just need to understand that other avenues exist and are available to them. (27:00)

Michelle provides closing advise for anyone feeling lost in their career and considering leaving medicine, “there's no shame in looking at what's out there, what the options are. You don't have to make any commitments. But, the biggest and most important thing is,: don't lose confidence in yourself and you're not a failure.” (28:42)

For more information on Michelle and her work, check out the Physicians Helping Physicians website. If you’re a physician exploring other options, sign up to attend the sessions at the all-virtual NEXT Conference.

Financial Wellness Tip

In this episode’s financial wellness tip, Will Koster discusses insurance as part of your financial foundation. It is imperative that you review your policies frequently to determine if they are still adequate for your current needs. Your home, life, and disability insurance, for instance, may not be sufficient compared to when you first purchased them early in your career. Re-evaluate them and make sure they’re in order so that the foundation of your financial plan continues to be stable and strong. To learn more check out our blog post Insurance Planning for the Good and the Bad.

Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentist to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentist in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

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In this episode of Prosperous Doc, our host Shane Tenny is joined by Lara McElderry, an English teacher who is married to a physician. After teaching children for several years, Lara chose to put her career on hold to support her husband as he pursued a medical career. Lara discusses the number of times she had to move for her husband and the toll that took on her; moving for medical school, for residency training, and then for an attending position (8:03), not to mention the debt they incurred in the process. But, most importantly, Lara tells us how she overcame the low points during this ordeal, by finding something she connected with that also resonated with other people, her podcast.

“[A] part of it has been embracing a new identity but still keeping those talents and interests that I had and finding new ways to use them. [I always remind people] “your life may not look like you thought it would, but that doesn’t mean that your strengths have changed. You just have to find new and creative ways to use the strengths that you’ve been blessed with.” (11:57)

Lara McElderry has found a way to connect with and help people that are facing similar obstacles, not as a professional marriage counselor, or as a therapist, but as a shoulder for people with nowhere to turn. While physician suicide is a commonly discussed issue, Lara highlights the alarming suicide rate of women married to male physicians. Coupled with the pressure of the lavish public expectations of a physician’s lifestyle, Lara believes this increased risk can be attributed to feelings of isolation and loneliness, feeling like they’re not contributing, and feeling like they’re second fiddle to their physician husband. (21:50)

For Lara, discovering creative and productive spaces can help overcome stressful situations and loneliness; she stresses how common it is to face such struggles when married to a physician. To learn more about overcoming the struggles facing physician spouses or to contact Lara, visit her website Married To Doctors.

Financial Wellness Tip

This episode’s financial wellness tip focuses on estate planning and the importance of investing in an experienced attorney. With a DIY approach or an inexperienced attorney, you run the risk of your estate documents being prepared improperly, leaving your children and loved ones to face the consequences. Always remember to make sure you find an attorney that specializes in estate planning. Another important tip to consider is to double-check your beneficiary designations on accounts and policies, something you can do without spending a penny on an attorney.

Ready to take your wellness game to the next level? Subscribe to our Prosperous Doc newsletter HERE.

Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

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In this episode of Prosperous Doc, host Shane Tenny speaks to cardiac surgeon Dr. Brian Lima about heart-ificial intelligence, a topic he explores in his book, Heart To Beat: A Cardiac Surgeon’s Inspiring Story of Success and Overcoming Adversity―The Heart Way. (5:26) Dr. Lima shares the story of his journey to becoming a doctor through HEART values – hard word, entrepreneurship, aligned, relentless, and thoughtfulness. (6:24) With his father as his inspiration, Dr. Lima developed an attitude of persistence that has positively influenced his career.

They go on to discuss the concept of failure and examine coping mechanism for dealing with failure in the medical industry. As surgeons and other medical professionals know, no matter how well you follow the process, if everything is by the book, mistakes are unavoidable. While admitting he understands how difficult it is, Dr. Lima encourages doctors not to dwell on their errors, to persevere in the face of adversity. (13:54) He also talks about complacency as being the enemy of success, and that you owe it to your patients to improve as a physician. (17:54) There is always new technology, literature, techniques, and devices you learn in the industry, even outside your field, that can help you become a better doctor. (19:00)

Dr. Lima provides two tips on how to make the most of the limited doctor-patient times afforded to us, given the current COVID-19 crisis: limit the amount of jargon by breaking things down into simple language and try to involve the family in the discussion. During difficult conversations, patients may struggle to process the information they’re hearing. (8:56)

Above all, let patients know how much you care. For Dr. Lima, “it’s a calling, not a job.” (11:27)

Financial Wellness Tip

This episode’s financial wellness tip centers on estate planning and how imperative it is to a comprehensive financial plan. Drawing from his personal experience of losing his father in high school, Will Koster stresses the necessity of mapping your estate plan with your attorney and executing the requisite documents. Estate planning isn’t a luxury for the affluent, it’s an indispensable tool for providing peace of mind and avoiding consequences like family infighting and exorbitant tax bills.

Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentist to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentist in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

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In this episode of Prosperous Doc, trauma surgeon Dr. Nii Darko and host Shane Tenny explore the possibility of achieving a flexible medical career and becoming a 1099 employee. (7:17) Dr. Nii shares his personal experience with locum tenens and the pros and cons of this type of employment. Not only does this option expose you to different hospital systems, cultures, and doctors, it helps you understand your self-worth in terms of wages for your services. (12:19)

Additionally, he believes that doctors stand to gain considerable knowledge from professionals in other industries, one of the founding ideals of the Docs Outside the Box podcast. (22:11)

He also provides insight into physician contracts and how to retain control over contract negotiations, even as a young doctor. Two things to keep in mind, have a clear understanding of the contract terms and ensure you build in an exit plan. (17:15)

For Dr. Nii, there’s no such thing as balance. It’s all about trying to be the best person you can be and being kind to those around you. (26:50) Wellness is also about having control, being intentional about decisions that will affect your life. (32:44)

Financial Wellness Tip

This episode’s financial wellness tip encourages physicians to think about refinancing student loans. According to Will Koster, you have control over the terms of the loan and whether you choose a variable or fixed interest rate, among other options. However, before you make any decision, first assess your situation. Make sure that items such as your minimum monthly payment will fit your current financial state and will not become cumbersome in the future.

Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

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In this episode of Prosperous Doc, our host Shane Tenny is joined by Dr. Milad Memari, an Internal Medicine resident from the Johns Hopkins Bayview Medical Center in Baltimore, Maryland. Dr. Milad is himself a COVID-19 survivor and shares his firsthand experience in fighting the virus and treating patients as well. (4:09)

He also discusses the research project that he and his colleagues conducted in an effort to contribute to the ongoing literature on physician wellness and well-being. He took a look at the types of activities that residents, in particular, do in their free time. (14:37) Whether they engaged in activities in isolation or with their social groups, the findings pointed to positive effects on satisfaction and happiness. (20:01) He plans to continue this research as he pursues a career in academic medicine.

Dr. Milad believes that these types of studies can give insights to hospital systems in terms of initiatives, like an individualized approach to working hours, that promote physician wellness. (24:56)

Financial Wellness Tip

This episode’s Financial Wellness Tip revolves around decisions that can affect your overall personal finances. Financial choices are interconnected, no matter how big or small they are. Even seemingly mundane decisions can greatly impact your long-term financial well-being.

Will Koster shares the six components of an individual’s finances and gives a real-life example of how they affect each one.

Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentist to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentist in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

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In this episode of Prosperous Doc, our host Shane Tenny is joined by family medicine physician and founder of Physician Coaching Alliance, Dr. Errin Weisman. Dr. Weisman explores the benefits of physician coaching for coping with the unique issues facing medical practitioners today. She shares her journey to becoming a coach and how difficult days fueled her passion for coaching. (1:47) She goes on to examine the surge in demand for professional and life coaching in the medical industry, as more discover this as a valuable tool.

Dr. Weisman also touches on several challenges common to the medical profession, including physician burnout, physical and career suicide (13:00), money dynamics in marriages, and other financial struggles. (20:27) Her solution, when things pile up and get overwhelming, is to take things one step at a time, tackle and focus on one issue first. (16:12)

Some of the key takeaways that Dr. Weisman wants physicians to understand is that you are not alone in your problems, you are not stuck, and there is hope that things are going to change. (17:07) Remind yourself that you are okay, even when it feels like the current situation is not. It’s never a sign of weakness to reach out and ask for help, so please reach out for help when you need it. (31:39)

To learn more visit the Physician Coaching Alliance website and The Doctor Me First podcast. You can also connect with Dr. Errin Weisman on Instagram and LinkedIn.

Financial Wellness Tip

This episode’s Financial Wellness Tip is all about the benefits of automatic savings. Implementing this method of savings in your plan will change the way you look at finances. While manually maintaining savings requires discipline to execute, automatic deductions to your monthly income will become an expense. Your budget and lifestyle will then fall in to place as a result.

Will Koster emphasizes that you should save first, then make it automatic and mindless so you can start building your savings snowball.

Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentist to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentist in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

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Dr. Gary Price, president of the Physicians Foundation and board-certified plastic surgeon, joins host Shane Tenny for this episode of Prosperous Doc to provide insight on vital issues in the medical community. He talks about the work done by the foundation in terms of projects and programs. (07:33) These include working with relevant organizations and developing the Vital Signs Campaign to raise awareness and provide tools to combat physician suicide. (10:56)

He shares how more positive steps are being taken by those in large healthcare systems to address physician burnout and suicide. (12:56) These grave problems are getting more attention now, which is a welcome change from lip service in the past.

Dr. Price also explores the stigmatization of mental illness in the healthcare field. Stigmatizing mental illness leads to physicians being less likely to disclose such concerns (15:53), which can increase the danger to both doctors and their patients. He also touches on the benefits and disadvantages of electronic medical records (21:03), physician staffing and shortage (28:11), and the financial burden of becoming a physician. (32:26)

Although there are frustrations in the industry, what motivates doctors is the opportunity to help people. It’s what drives Dr. Price and the foundation to help make the physician environment less toxic and more rewarding, which will, in turn, help them deliver better care for their patients. (30:40)

For more information about the Physicians Foundation’s Vital Signs Campaign, you can visit https://physiciansfoundation.org/physician-wellbeing/vitalsigns/.

Financial Wellness Tip

This episode’s Financial Wellness Tip emphasizes the importance of having an emergency fund, especially during economic crises such as the COVID-19 pandemic. Having liquid cash helps ensure that your personal finances are in order, even if the greater economy is not. It’s recommended that your emergency fund is equivalent to 3 to 6 months of living expenses.

You can also make adjustments in your current expenses to stretch the emergency fund longer. Taking advantage of forbearance options on loans and discontinuing automatic investments are some things that you can do so you won’t struggle financially during a crisis. And once things are back to normal, slowly rebuild your savings for the next rainy day.

Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

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This week’s guest, Dr. Shikha Jain, aims to not only shed light into this issue, but to educate people in the industry through research, data and real-life experiences from female practitioners. She is a practicing oncologist, a co-chair of the Women in Medicine Summit and involved heavily in other organizations such as SoMeDocs. Dr. Jain shares her personal stories on the challenges she has faced from medical school, to residency and as a practicing doctor that she mistakenly thought were unique to herself. 05:50

She also discusses the direct correlation between improvement of women’s healthcare as more female doctors advance as leaders in the field. 11:52 This is why it’s important that support is given to those who choose to go into medicine and are faced with particular concerns like maternity leave policies. 10:43

She also dives into social media and how it can be leveraged by women doctors. 24:00 In addition to educating and correcting a lot of misinformation that is rampant online, it can also be used in networking, collaborating and mentoring. It’s also a great way to advance your career as you can brand yourself and share research and studies that you have been a part of. 30:09

Dr. Jain believes that by using social media to also spread awareness with regards the experiences of women in business will we be able to find interventions and solutions that can improve the healthcare industry overall.

White Coat Wisdom

This episode’s White Coat Wisdom is all about focusing on your own personal economy rather than on the economy of the state or country you’re currently in. The past few weeks have put the world in a state of fear and confusion because of the COVID-19 pandemic, shaking our economic certainty and prosperity. While it’s okay to feel fear and panic, you can use this time to really look into your personal finances, so you can put your mind at ease.

Take a look at the cash you have on-hand. Make a list of your typical spending and saving activities that you can temporarily put on hold so you can improve your cashflow. Identify any savings, investments or lines of credit that can help you as well, just in case you’ll need them.

Even with the sense of uncertainty, it’s important to remember that we have already overcome great crises in the past, and we can certainly do that this time around.

White Coat Achievement

Despite experiencing trauma at a young age, this week’s White Coat Achievement awardee, has used this to become the passionate surgeon that he is today. Dr. Mike Malla, Chief Trauma Resident at Atrium Health, is able to empathize with those who are going through trauma, and understand the effects it may have on the loved ones surrounding the patient.

He wrote an essay that was read at the 2020 Annual Scientific Assembly of the Eastern Association for the Surgery of Traumas, impressing attendees and moving them to tears.

The White Coat Wellness podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentist to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentist in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com or our Facebook group www.facebook.com/groups/WhiteCoatWellness You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

This episode’s guest is Jason Watkins from SunTrust Mortgage, a company that offers a unique lending option that can help medical practitioners with purchasing homes and real estate. According to Watkins, their physician loan involves flexible financing with no down payment or mortgage insurance, and can be approved based on future income. This means it’s possible for practitioners who are just starting out to purchase a home. (03:56)

He also discusses other loans that doctors can avail, including the jumbo loan, construction loan and renovation loan. (07:35) He also dives deep into the different aspects of mortgage and lending, such as insurance, rates, credit scores and the role that student loans play in the approval of a loan. (27:16) He gives insight into the process of applying for a doctor’s loan, what lending companies look into and how a practitioner can get started if they’re looking to buying a house as well.

Watkins stresses the need for physicians and dentists to consult with a financial planner and mortgage broker before making the jump, as they will be more equipped to know what type of lending program will suit your needs and financial situation. 

This episode’s White Coat Wisdom is all about financial habits. Habits are practices or tendencies that are hard to give up, as they have either stuck with you since you were a child or that you had acquired as you were growing up. These habits, whether conscious or subconscious, can have great impacts on your financial life.

It’s important for you to have an awareness of these, especially the ones that can jeopardize your future. For instance, check whether you have the harmful habit of keeping up with the Joneses, or keeping disjointed bank accounts with your spouse.

If you are mindful of these habits, then it’s easier for you to make better and sound decisions. This lets you stay on the path towards achieving your financial goals.  

TikTok is taking the internet by storm, which has presented an opportunity to this week’s White Coat Achievement awardee. Dr. Danielle Jones, or Mama Doctor Jones, is an OB-GYN who is gaining popularity on the platform, with 184,000 followers as of writing.

She creates these short, entertaining videos to provide sex and health education. One of which, a video that talks about Plan B, has gained 9.8 million views in under 48 hours. Her goal is to address misinformation and reach out to kids and teenagers who are constantly looking for health answers on the internet.

The White Coat Wellness podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentist to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentist in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com or our Facebook group www.facebook.com/groups/WhiteCoatWellness You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

Additionally, more practitioners moving out of an independent practice into one where they’re employed in a corporate organization. With this shift, can CEOs and the C-suite help address burnout and help the physicians working for their company?

For this episode’s guest, Dr. Kevin Mosser, health system executives can certainly do something to make a difference in the lives of their doctors! Dr. Mosser is the former CEO of WellSpan Health and is currently a senior medical consultant for SE Healthcare and law firm Saxton & Stump. He talks about the many trends he’s seen in medicine over the years and how the changing working environments are contributing to the issue of burnout. And because more are choosing to become salaried doctors, these new compensation systems are further exacerbating feelings of frustration, which can lead to being burned out. (13:31)

He also discusses how fostering open communication between physicians and the organization is necessary as there’s a gap between how corporate management is done versus the training doctors receive in medical school. (20:50) This leads to medical practitioners feeling overworked, undervalued and underappreciated as corporations focus more on providing greater access to patients.

For Dr. Mosser, the dialogue between the two parties have to improve and that constructive conversation has to take place. (21:51) The C suite must let their doctors know that they are listening to the doctors and that measures are being put into place to make sure that the problem is being taken cared of. He suggests implementing programs, systems and even incentives that can lift the physicians’ spirits and bring back the joy in medicine. It may take some time and effort, but it will be worth it in the long run. (33:29)

At the end of the day, health corporations won’t be successful and effective if their doctors are burned out and unhappy. (23:57) 

This week’s White Coat Wisdom tackles goal-setting and how this is the first step to achieving any type of goal, particularly financial goals. When you have goals in place, you’re setting priorities in terms of where you spend your money. It lets you be clear on whether you should throw your cash to a particular item or experience.

You’ll also gain increased confidence in saying yes only if something will help you move towards your goal. You’ll be able to take ownership of your finances, which translates to more freedom in the long run.

Dr. Quinn Capers is this week’s White Coat Achievement awardee for his transformative leadership in academic medicine. An interventional cardiologist, and professor of medicine and dean of faculty at the Ohio State Medical School, he focuses on uncovering implicit bias and reducing its effects in the admissions process in medical schools.

In 2013, he introduced the implicit association test within the admissions examination at Ohio State Medical School. This particular test aimed to uncover hidden racial and gender biases that are prevalent not just among students, but in the administrators as well. He paved the way for the existence of more minorities in medicine.

He loves sharing his insights on Twitter, along with other interests like his push-up hashtag challenge.

The White Coat Wellness podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentist to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentist in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com or our Facebook group www.facebook.com/groups/WhiteCoatWellness. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

This episode’s guests are John and Joan, a couple who shares their story of struggling through financial infidelity to shed light on this issue. John is a physician who, although had the same goals in terms of money with his wife, made some secret decisions that have taken a toll on their finances and their marriage.

John talks about intellectual restlessness and curiosity, something that is quite common in physicians and medical practitioners due to their line of work. (24:55) He says that while it’s good to know more about a certain topic like financial vehicles, it leads to gaining false confidence that can lead to making ill-advised decisions. (18:36) You tend to develop a blind spot on the risks, failing to see that the more risks present, the more opportunities there are for losses and failure. (22:48)

To avoid creating this prison and being entrapped in an unfortunate financial situation, John says you should acknowledge the problem and stop the behavior before it’s too late. Come clean and be honest to your spouse, so you can find solutions together. It won’t be an easy and pleasant experience, but you have the power to change your situation. (41:51)

Joan also believes that whoever is in charge of the financial decisions in the relationship must be more transparent, honest and open. It’s also good to listen to a third-party’s opinion to provide an objective point of view to help you and your spouse align your goals and act as a referee when necessary. (38:57)

At the end of the day, living in secrecy in a relationship creates a huge mental burden. (41:01) In terms of finances, it’s always best to work in a more transparent way with your spouse and value your relationship more.

This week’s White Coat Wisdom is dedicated to residents or fellows who are transitioning from training to practice, or even attendings who are thinking of changing practices. This period can be a stressful time, but you can certainly prepare for it. First, make sure that you save cash so you don’t have to rely on loans or your credit card for expenses that you will incur.

Additionally, you should know about any possible gaps in your health insurance and what your options are. Ask which benefits you can carry over to your next role and which ones begin once you’ve signed on your new job. Paying attention to these details will help make your transition a successful one.

In this week’s White Coat Achievement segment, we honor Dr. Jeffrey Smith, an orthopedic traumatologist and physician wellness advocate from San Diego, California. He is the founder of Surgeon Masters, a company that’s dedicated to promoting wellness and raising relevant issues in the surgeon community.

Besides helping create successful and sustainable medical practices, Surgeon Masters is also focused on treating physician burnout and providing strategies to prevent this from occurring. He also hosts the Surgeon Masters Podcast and Wellness Edge, a wellness and resilience training program.

The White Coat Wellness podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentist to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentist in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com or our Facebook group www.facebook.com/groups/WhiteCoatWellness You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter

Endodontist Dr. Sonia Chopra is all too familiar with these challenges, having gone through them as she set up her own practice, Ballantyne Endodontics. Dr. Chopra is one of the minds behind E-School, an online platform learning community where dentists can learn more about endodontics. She is also one of the founders of Night for Smiles, a nonprofit organization that’s dedicated to make dental care more accessible in Charlotte and North Carolina. On top of all her professional work, she is also a wife and mother to three children.

In this episode of White Coat Wellness, Dr. Chopra shares some of the issues she encountered, as her practice was growing. One major problem was trying to find the right work/life balance, which can be a struggle if you’re used to doing everything on your own. It’s important to see where you need support and seek help for it. (08:38) Find the right associate or partner clinicians to help you run the practice is also essential, even if it might take years because not everybody’s going to be a good fit. (12:02)

And when you have your staff, learn to let go and delegate tasks. Create systems for accountability too, so you know that things are getting done even when you’re not around. (21:30)

When burnout begins, she believes it’s important to do a bit of introspection and see where things need to be different. Change starts from the top down, so leaders have to take the first step. (16:09) She also suggests other strategies to help when things in your practice get exhausting, like meditation and taking breaks and time off for yourself. (17:17)

Ultimately, a great private practice is one where priorities are sorted out, collaboration is occurring among the partners, and that work is also done on the practice and not in it. (23:19)

This week’s White Coat Wisdom is for transitioning physicians who are considering purchasing a house as they relocate to a new city. While every situation is different, there are a number of factors that you should consider if you’re in the same position.

Ask yourself if you’re familiar with the new city and how long do you see yourself staying. Is this practice going to be the right for you? There are also financial considerations, like how much you have in your budget now for housing and if it would be better to rent a property instead.

Buying a house is a big decision and this should be thought out carefully.

Dr. Sherilyn Sheets and Fern Ingber, founders of America’s Tooth Fairy, National Children’s Oral Health Foundation is featured in this episode’s White Coat Achievement Segment. These two individuals established the organization, which is a collaborative effort to address the epidemic of pediatric dental disease.

Since it was established, America’s Tooth Fairy was able to provide oral healthcare and education to over 7 million children. Their activities include awarding financial grants and educational materials to nonprofit dental clinics and community partners as well, with a focus on children in underserved populations.

The White Coat Wellness podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentist to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentist in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com or our Facebook group www.facebook.com/groups/WhiteCoatWellness You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter

According to a Mayo Clinic study published in the Journal of American Medical Association, half of medical residents are experiencing burnout, stress and depression. Dr. Neela Rao, who specializes in facial plastic and reconstructive surgery at Charlotte Eye, Ear, Nose and Throat Associates, is among this alarming statistic.

She talks about the struggles she personally faced while doing her medical training and how it’s a pretty common experience during this time. And the majority only realize the gravity of the situation once the training is over. (14:00) She believes that a lot of it has to do with how future doctors are somehow trained to think in terms of checklists, that they end up going through the motions and not living their own lives outside of medicine. (16:19) This doesn’t just affect their own personal lives, but their relationships with others too.

Fortunately, there is now more dialogue surrounding the subject of physician or resident burnout that the stigma it used to have is being broken. Resources and programs are available to trainees, which is a step in the right direction, but the long hours that training requires makes it tough for trainees to actually have time to take advantage of these resources to help with their own struggles. (22:20)

Doctors should give themselves more credit and take a step back to celebrate successes or wins experienced during residency. She also gives tips to help cope with the stress during medical training, such as practicing mindfulness and gratitude. You should also remind yourself why you wanted to be a doctor in the first place, as it’s easy to lose sight of your purpose because of the daily grind. (21:09)

For Dr. Rao, it’s okay to feel something real for your patients. You don’t have to be a robot because at the end of the day, you are a person who has the capacity to feel emotions. (24:06)

This week’s White Coat Wisdom dives into emergency funds and how these are part of the foundation of a solid financial plan. These designated cash reserves should be fully liquid, easy to access or transfer and must not be used for ordinary expenses. You can also take advantage of online banks, where you can yield higher interest than brick and mortar banks would offer.

According to research, facing malpractice litigation is a pretty common occurrence. However, it’s still considered a taboo topic to talk about in the medical industry. Dr. Stacia Dearmin, a pediatric emergency medicine doctor, aims to change that by providing information and support to physicians who are struggling in this area. Lawsuits cause additional stress and are on of the causes that lead to high burnout and suicide rates among medical practitioners.

She is featured in this week’s White Coat Achievement segment for her work on The Thrive Physician and her blog Breaking Our Silence Around Malpractice Litigation she shares insights that she learned from winning her own litigation case.

The White Coat Wellness podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentist to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentist in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com or our Facebook group www.facebook.com/groups/WhiteCoatWellness You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

Dr. Dike Drummond, who is a Mayo-trained family doctor, juggled various roles – full-service family doctor, physician leader to name a few – for decades before finally deciding to walk away from his medical career at the age of 40. The last straw for him was feeling like he was being choked the moment he stepped in his private practice office.

He is now the CEO and founder of HappyMD.com, an organization focused on addressing and preventing the burnout epidemic that is common among physicians worldwide. Among their projects is the Quadruple Aim Physician Leadership Retreat that teaches people to be wellness advocates for themselves and for others.

Dr. Drummond discusses what physician burnout looks like and the classic symptoms you have to watch out for. (12:40) These include physical and emotional exhaustion, compassion fatigue, losing the connection to your purpose, and energy levels being in a negative state. There are also a number of factors that can cause burnout, ranging from personal factors like the choice to become a doctor to the medical system itself. (25:45)

While this phenomenon has been studied in the past, only recently has it been recognized as a serious problem in the healthcare industry. (16:13) An interest in burnout has also spiked due to reported cases of digital overload caused by the adoption of Electronic Medical Records (EMR) in the workplace.

If not addressed as soon as possible, burnout can lead to many consequences that can affect not just the physician, but the patient itself – from medical errors to low care quality, to doctors turning to drugs and alcohol. The suicide risk among physicians is almost double than those of regular people, which is an alarming rate. (14:54)

The first step in facing burnout head on is to recognize what it is that you want as being doctors, you’re somehow programmed to only do what is expected of you. (35:05) Then build strategies and solutions that can help shift your reality into that of what you desire as a medical practitioner.

Dr. Drummond also points out that burnouts are markers for important turning points in your life. (38:26) It’s in that moment that you can choose to take matters into your own hands and lead your career into the direction that you’ve always wanted.

This week’s White Coat Wellness introduces the concept of paying for college, rather than saving up for it. Many people underestimate their ability to qualify for programs such as the Free Application for Federal Student Aid (FAFSA), not even attempting to apply because they feel they’ll be denied right away. Shifting this perspective in terms of funding for college could make a huge difference especially in future student debts.

It is also possible to be a full-time medical practitioner while pursuing your passions through side gigs. Anesthesiologist and entrepreneur Dr. Navin Goyal, who is being honored in this week’s White Coat Achievements segment, shows you how it’s done. He is co-founder and CEO of Loud Capital, a company that provides venture funds and supports small businesses across the country. They’re currently holding a pitch competition for budding entrepreneurs who want to turn their business ideas into reality.

The White Coat Wellness podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentist to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentist in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com or our Facebook group www.facebook.com/groups/WhiteCoatWellness You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

On this episode of White Coat Wellness, Dr. Fatima Cody Stanford dives deep into the disease of obesity and how complex this condition really is. Wanting to become a physician at a young age, Dr. Stanford worked in public health and public administration and is now an Obesity Medicine Physician at Massachusetts General Hospital. She authored Facing Overweight and Obesity, a Guide for Children and Adults, a resource book on obesity and the different aspects of this condition that go beyond the physical. 

Dr. Stanford shares that obesity is more than just a lifestyle choice. (16:15) It’s a debilitating illness often caused by many underlying issues, some of which are never addressed by medical practitioners in the first place. (16:54) It’s best not to take everything upon surface value – your patients may be eating right and exercising regularly, yet are still suffering from being overweight or obese. There’s a story behind the condition and patients will tell you about it, and your job as their doctor is to listen. (22:34)

You also have to be aware of things that you’re subconsciously doing that discourage people with obesity, like using stigmatizing language and using items in your office that don’t emphasize their weight. (19:00) The right messaging must be used when addressing obesity and the treatment options, being mindful of any weight bias that we may have. (26:13)

Public policy around obesity is also underway, as Dr. Stanford also talks about the Treat and Reduce Obesity Act. If enacted into law, more patients who meet the necessary criteria will be able to get the treatment and medications needed, at a more affordable price. (28:21)

Taking away the shame and blame that obesity brings starts with each person, and you can certainly change any personal biases towards people carrying excess weight. This will turn you into a champion for your patient, which is what they need to conquer this disease.

This week’s White Coat Wisdom is all about the savings snowball and how you can capitalize on opportunities to save more money. Saving takes discipline, and you can help yourself out by setting up automatic deductions that go straight into your savings, similar to automatic debts done for your bills. This will help you grow your savings, especially if you’ve just finished a long-term monthly payment scheme.

A LinkedIn Top Voice Award in the Healthcare category, Dr. Louis Profeta is featured in this week’s White Coat Achievement segment. He is an Emergency Medicine Physician in Indianapolis, Indiana who wrote 3 of the most read and shared articles on LinkedIn in 2017. These tackle national issues that are affecting college campus, including the opioid epidemic, drug and alcohol abuse, and sexual assault.

The White Coat Wellness podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentist to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentist in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com or our Facebook group www.facebook.com/groups/WhiteCoatWellness You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

On this episode of White Coat Wellness, these two owners of Advanced Dentistry of Blakeney talk about their journey in forming their practice and how they have made it into a successful business over the years. For them, it’s all about being on the same page with your partner in terms of outlook and philosophy and the level of dentistry you both want to practice. While you don’t need to be exactly the same, you need to have some point of similarity and espouse the same values not just in the industry, but in life too.

They reveal that success didn’t come easy for them, but with a lot of hard work being put towards the same goal, they have come so far from when they started with just a couple of patients in a week. The growth may have been slow, but they grew the right way with the right time. And now, they are able to offer niche services that they have been interested in doing for a while. (11:48)

For them, you also need to seek help in other aspects of a dental business, such as the legal and financial areas, as these are not taught at school. (24:59) Learn how to delegate tasks that you are not capable of doing and get good representation in those.

Finding the right staff (16:27) is also a crucial part of the practice and having a good team by your side is a huge factor in your success. The same vision and goals that you and your business partner share must trickle down to everyone – the office staff, hygienists and assistants. Lines of communication must be open (20:30) and a high level of trust have to be shared among yourselves, so you not only succeed financially, but serve your patients effectively too. You must be willing to invest not just in your employees, but in new technology and equipment that can make improve the quality of your work.

Ultimately, for Dr. Betancourt and Dr. Pinnix, it’s all about creating a balance between meeting financial goals, providing a healthy working environment and spending time with family and loved ones, while offering quality dentistry.

To know more about Advanced Dentistry of Blakeney and the services they offer, you can check out their website: www.blakeneysmiles.com

This week’s White Coat Wisdom discusses budgeting, one of the dreaded topics of financial planning. Budgeting is not an exact science, and in order to do it properly, you must veer away from the traditional way of executing it. Instead of tracking each expense you’ve incurred, choose 1 to 2 categories to focus on. Be extra mindful when making purchases in those areas, so you can control even a few aspects of your spending.

Dr. Grace Yum is also featured in this week’s White Coat Achievements. A pediatric dentist by profession, she founded the Facebook group Mommy Dentists in Business Community, a group that helps moms be successful in their own medical careers.

The White Coat Wellness podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentist to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentist in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com or our Facebook group www.facebook.com/groups/WhiteCoatWellness You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.

First, Dr. Teague discusses her work at Atrium Health in Charlotte, North Carolina, and her journey to becoming the director of internal medicine. (2:03) Dr. Teague then addresses the main issues she sees in healthcare today, and the biggest challenges providers face in today’s changing field with the Affordable Care Act. (5:24) Dr. Teague then reveals one thing she would change going on in medicine right now. (8:28)

The episode then breaks for a bit of White Coat Wisdom with Will Koster, CFP®. In this episode, Will takes on the subject of physician mortgage programs. These programs are designed to be flexible to meet the unique needs of physicians, who often carry larger than normal debt loads and where training may hinder their ability to save for a down payment. SunTrust Physician Loan program offers 100% financing for homes up to $750,000 with no private mortgage insurance. These programs often come with a credit score requirement. If you are a physician in the market for a new home, you'll want to consider if a physician loan is right for you. (10:17)

As we rejoin the conversation, Dr. Teague explores the immense issues of physician burnout, depression, and anxiety. (12:07) This leads to a discussion about the generational differences with respect to these issues within the medical community. (15:55) Dr Teague then wraps up the episode by exploring the affect consolidation in the healthcare industry has had on doctors and how one doctor can still make a difference in the world of massive healthcare systems. (17:44)

Apply for a life changing experience through a GOtoGROW Scholarship

If you would to join Dr. Teague's humanitarian efforts with Bless Back Worldwide, apply for a life changing experience through a GOtoGROW Scholarship. GOtoGROW is a partnership between Spaugh Dameron Tenny and Bless Back.

To hear the first part of this interview, listen to Episode 8 of White Coat Wellness. To find out more about Dr. Carmen Teague, visit her website carmen-teague.com.

This episode's White Coat Achievement highlights Dr. Wendy Dean, the president and cofounder of Moral Injury of Healthcare, a nonprofit organization dedicated to putting the care back in healthcare. Dr. Dean is a psychiatrist who has dedicated her career to finding innovative ways to make medicine better for both patients and physicians.

Links and Resources:

• Jason Watkins – SunTrust Mortgage
• SunTrust Doctor Mortgage Program
• Blessed Back Worldwide
• The Moral Injury of Healthcare