In this episode, host David Mandell welcomes back attorney Jason Greis for his third appearance. Jason, a healthcare business attorney with extensive experience advising physician practices, discusses one of the most pressing issues for independent groups today: physician compensation models and partnership structures. With generational shifts and economic realities reshaping the field, many practices are rethinking what it means to become a partner and how to fairly compensate both younger and senior physicians.

Jason explains how compensation models have evolved from the 1980s and 1990s to today. Younger physicians increasingly favor employment arrangements with health systems over partnership tracks, which creates challenges for groups that need to recruit. To compete, practices must clearly articulate the benefits of partnership—including higher long-term compensation, decision-making authority, and ancillary investment opportunities—while balancing the responsibilities and risks that come with ownership. He outlines the growing popularity of three-tiered structures (associate, non-equity partner, equity partner) as a way to create flexibility and manage risk tolerance.

The conversation also explores buy-in and buy-out models, the shift away from high dollar amounts, and the trend toward productivity-based (“eat what you kill”) compensation rather than common pot models. Jason highlights potential red flags, including outdated “founder’s models” that rely on new doctors funding senior physicians’ retirements, which often result in disputes. He emphasizes the need for practices to proactively revisit their structures—ideally years in advance of retirements or potential sales—to remain competitive, avoid pitfalls, and position themselves for long-term success.

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

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In the Season 6 premiere of the Wealth Planning for the Modern Physician Podcast, host David Mandell welcomes Dr. Cynthia Matossian, an accomplished ophthalmologist, entrepreneur, and industry leader. Dr. Matossian shares her unique journey into medicine, starting from an initial interest in political science and international relations before ultimately discovering her passion for ophthalmology. She discusses the early challenges she faced in starting her own practice in 1987, particularly as a woman seeking financial backing in a male-dominated field, and the resilience and determination that fueled her success.

Dr. Matossian reflects on the growth of her solo practice into a thriving multi-location enterprise with 14 physicians and over 90 employees. She emphasizes the importance of delegation, transparency, and staff empowerment in building an efficient, patient-focused practice. Her insights into practice management include implementing scribes to reduce physician burnout, investing in proper business education, and hiring skilled managers to bring structure and professionalism to the organization. She also highlights her personal approach to financial planning, beginning with small investments guided by a trusted advisor, which laid the foundation for long-term financial success.

The conversation also explores Dr. Matossian’s involvement in industry innovation, her leadership in clinical trials, and her founding of GPOptho, a group purchasing organization designed to help practices lower costs through collective buying power. She shares valuable advice for physicians considering private equity transactions, stressing the importance of preparing years in advance and selecting the right advisors. Ultimately, Dr. Matossian underscores the critical need for physicians to educate themselves on the business of medicine early in their careers, pairing clinical excellence with sound financial and practice management strategies.

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

Click here to get your FREE copy of our latest book, Wealth Strategies for Today's Physician!

This summer, join host David Mandell as he revisits and highlights episodes from Season 3 and 4 of The Wealth Planning for the Modern Physician podcast, in our 2025 Summer Rewind Series.

"I genuinely believe there is a lot of information to gain from all of our episodes deliver, but for the summer, I've handpicked a few that offer intriguing ideas and a unique perspective for physicians in 2025," says David. "I hope you enjoy this Season encore series. Have a great summer!"

Episode 4.1 | Originally Released: September 21, 2023

To kick off Season 4 of the podcast, David welcomes a very special guest – his father, radiologist Dr. Charles Mandell. David begins by asking Charlie, as he does with all physician guests, where he is from and what led him to become a physician in general and a radiologist in particular.

Charlie shares a bit about his first job out of training and his move to become chairman of a group radiology practice after a few years, including what he learned about the business of medicine.

David and Charlie discuss Charlie’s various entrepreneurial business ventures during this phase of his career, including real estate development and alternative energy.

Charlie then talks about the second phase of his career – a locums practice that has allowed him to travel around the U.S. and maintain an ideal work-life balance for him and his wife. He relates some advice to other physicians who may consider this option. Charlie also discusses the telemedicine-medical software firm he co-founded, which continues to operate and grow today.

The episode concludes with Charlie sharing some insights from 50 years in practice, why he still works and enjoys it, and what younger physicians should ponder when they consider their future retirement.

Learn more and listent to this and past episodes by visiting www.physicianswealthpodcast.com.