The Prosperous Doc

Too many dentists leave money on the table. Kevin Cumbus, founder and president of the mergers and acquisitions advisory group TUSK Partners, returns for an encore presentation on how dental practices can understand their options and maximize their valuation before selling to a dental support organization (DSO). 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. Deal structure matters more than multipliers. Investments are inherently risky.

Owning a dental practice is hard work. After years of serving the community and dealing with insurance companies, many dentists are ready to sell to the first person who gives them an offer. Kevin Cumbus says to wait. 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...

Dr. Carlos Moretta’s path into dentistry rather than medicine was, quite literally, an accident. Having decided he wanted to enroll in the radiology tech program at his local community college in Grand Rapids, Michigan, Dr. Moretta went up to an information desk and found he was in the wrong wing. The receptionist, instead, gave him a few brochures about the dental hygienist program, which told Dr. Moretta how much he’d get paid and how much schooling he’d need to complete. When he saw the specs, he was sold. 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...

Dr. Harvey Castro is passionate about many things: healthcare and tech being two of them. Luckily, for the medical world, he has found a way to marry those passions and help others succeed in the healthcare and digital health sectors. 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

Creating a positive organizational culture is crucial for the success of a medical or dental practice. 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

As a healthcare attorney and practice consultant at Knowledgeable Aging, Anu Murthy, Esq. is no stranger to contractual language and logistics. Anu previously joined host Shane Tenny to talk about healthcare workers making the most of their employment. 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...

In a 2014 survey, the medical network Doximity found that over 72% of residents had negative feelings about negotiating their compensation, including feeling stressed, concerned, anxious, or lost. 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

Many years ago, Beth Lachance realized that there was an opening for virtual professionals in medical and dental practices. She began working on her business plan and fine tuning what would become REVA Global Medical. 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...

Dr. Orman spent 21 years working in clinical community emergency medicine. In the first 10 years of his practice, he experienced three severe burnouts. Without much guidance, he thought the solution was to work harder - grit it out. Soon after his third major bout of burnout, Dr. Orman realized that his current way of life wasn’t sustainable. 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...

“We have 1,440 minutes a day. We tend to be pretty careful thinking about our finances or our money, but ironically, we can always make more money, but we can never make more time,” says Dr. Christina Shenvi, MD, Ph.D.,MBA. 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

For those working in medicine and dentistry, having a great team is key to being able to support their patients. Today’s guest wants to help practitioners attract, develop, and retain the right team so they can see their businesses thrive. 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

Dr. Cindy Tsai considers herself a recovering perfectionist. Having been motivated by extremely high standards for much of her life, Dr. Tsai found that her perfectionist tendencies were actually holding her back, impacting her relationships, and causing her to overwork herself. 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...

From an early stage in her medical education and training, Dr. Zed Zha knew she wanted to do primary care family medicine. The urban market of highly specialized care wasn’t the place for Dr. Zha, given her love for delivering babies, geriatric care, and an interest in dermatology, all of which led to work in rural areas where she could practice a variety of medicinal care. 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,...

Melissa McClung, M.S. didn’t have any plans to be a career coach when she began working at the career center at the University of Kansas Medical Center. But while there, Melissa fell in love with career coaching, and 12 years later, she’s established a niche helping doctors get into residencies and scientists decide whether they want to work in the field or academia. 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...

Burnout is one of the greatest challenges with which healthcare providers struggle today. As Dr. Dael Waxman explains, “Burnout happens when there’s a mismatch between the individual factors that a person brings to the system they work in and the system factors of that system.” 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...

It is something we need to survive, but the more we try to obtain it, the more it can evade us: sleep. Looking at the clock throughout the night, scrolling on smart phones until our eyes shut, or sleeping with televisions on, many Americans do not create ideal, sleep-conducive settings for themselves, which can cause harm. 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:...

Estate planning is a topic most people don’t want to think about, but it shouldn’t be avoided. While it may seem daunting, it’s a crucial step for you and your loved ones. “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...

Dr. Stacy Goldbaum’s move to Charlotte, North Carolina was a bigger transition than she’d anticipated. She missed having her friends and extended family near. Recognizing the importance of having a sense of community, Dr. Goldbaum decided to find a way to create connections in her new city. 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...

Dr. Beena Nagappala has done a lot in her career as a family physician and a public health expert — and she’s still going. As a practicing medical doctor as well as a leader in school-based community healthcare in Detroit, Michigan region, Dr. Nagappala knows how important public health is for everyone. 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...

Dr. Joseph Stern was accustomed to helping patients face some of the toughest times of their lives. 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...