From West Point to Wine: Success in Career & Retirement, with Dr. Pat St. Pierre
Wealth Planning for the Modern Physician
Release Date: 03/05/2025
Wealth Planning for the Modern Physician
In this episode of the Wealth Planning for the Modern Physician Podcast, host David Mandell welcomes Dr. Jacqueline Winkelmann, a pediatric hospitalist and founder of Scrub Sisters. Dr. Winkelmann shares her journey from growing up in Puerto Rico, being inspired by her uncle's compassion and dedication to medicine and eventually pursuing pediatrics as her calling. She discusses how financial foresight and a unique tuition waiver allowed her to graduate debt-free, enabling her to maintain a balanced career and family life as a part-time physician at the Children's Hospital of Orange County. Dr....
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In this second part of a two-part episode, host David Mandell continues his discussion with Dr. Jack Bert, a board-certified orthopedic surgeon and former president of the Arthroscopy Association of North America. In this conversation, Jack emphasizes the importance of ancillaries in building a financially successful medical practice. He explains how orthopedists and other specialists can significantly increase revenue streams through owning or participating in ambulatory surgery centers (ASCs), imaging services, physical therapy, and durable medical equipment. Dr. Bert stresses that...
info_outlineWealth Planning for the Modern Physician
In this first part of a two-part episode, host David Mandell welcomes Dr. Jack Bert, a board-certified orthopedic surgeon and former president of the Arthroscopy Association of North America. Dr. Bert shares his background, including his training at Northwestern, Temple, and the Mayo Clinic, as well as his career—building one of the first outpatient ambulatory surgery centers in Minnesota. He highlights how his practice expanded from a solo effort into a large multi-location group, providing insight into the evolution of orthopedic practice models. Dr. Bert reflects on the influences that...
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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...
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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...
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This summer, join host David Mandell as he revisits and highlights episodes from Season 3 and 4 of , 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...
info_outlineWealth Planning for the Modern Physician
This summer, join host David Mandell as he revisits and highlights episodes from Season 3 and 4 of , 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 3.13 | Originally Released: March 9, 2023 In this episode, Dr. Shaminder (Shammi) Gupta joins David to discuss his career path, the impact of...
info_outlineWealth Planning for the Modern Physician
This summer, join host David Mandell as he revisits and highlights episodes from Season 3 of , 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 3.11 | Originally Released: February 9, 2023 In this episode, plastic surgeon Dr. Richard Bartlett joins David to discuss his career, academic and private...
info_outlineWealth Planning for the Modern Physician
This summer, join host David Mandell as he revisits and highlights episodes from Season 3 of , 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 3.5 | Originally Released: November 3, 2022 In this episode, orthopaedic surgeon Dr. Scott Sigman joins David to discuss his career path, business and...
info_outlineWealth Planning for the Modern Physician
This summer, join host David Mandell as he revisits and highlights episodes from Season 3 of , 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 4.3 | Originally Released: October 19, 2023 Listen in as David chats with healthcare real estate expert Colin Carr. Colin begins with his background...
info_outlineListen in as host David Mandell welcomes orthopedic surgeon Dr. Patrick St. Pierre. Pat begins by sharing his background in the military, where he served in the infantry and as an airborne ranger pathfinder and eventually transitioned to medical school and a path in orthopedics. He then tells David about his decisions around the first job he took outside of the military on the east coast and his eventual move to Palm Desert, CA to a growing orthopedic practice there.
The conversation then shifts to Pat’s involvement with industry, including work on a Mako orthopedic robot for shoulder surgeries. He comments on the importance of physicians working with industry and gives advice to those thinking about doing so.
David and Pat then discuss Pat’s plan for retirement, which he has given a lot of thought to over the last decade after seeing colleagues struggle with life post-medical career. Pat is passionate about retiring TO something, not just FROM medicine. Pat explains his TO – is wine – and give insights on what he has been doing for some years to train and become certified as a master sommelier.
The episode concludes with Pat giving some specific advice for colleagues on approaching retirement beyond medicine.
KEY POINTS
Dr. Pat St. Pierre's Background: A West Point graduate, he also completed his medical education at the Uniformed Services University of Health Sciences and has an extensive military medical career, including residencies and fellowships in orthopedic surgery and sports medicine.
Military Experience: Dr. St. Pierre initially served in the infantry, where he undertook demanding roles such as airborne ranger and pathfinder, before transitioning to medicine in the military.
Motivation for Medicine: Inspired by personal experiences, including his mother's battle with heart disease, Dr. St. Pierre initially considered cardiology before shifting to orthopedics.
Choosing Orthopedic Surgery: He found his passion for orthopedics and sports medicine through impactful rotations and mentorship during medical school.
Transition to Civilian Practice: After 24 years of military service, his first civilian role in Virginia was driven by family considerations and proximity to his wife’s ailing parents.
Palm Desert Practice: Dr. St. Pierre joined Eisenhower Desert Orthopedic Center and has been practicing there for 17 years, playing a pivotal role in the growth of the practice.
Sports Medicine Leadership: He became the lead physician for major sports events, including the BNP Paribas Tennis Open, and worked with junior colleges, high schools, and a professional hockey team.
Financial Lessons for Young Physicians: He emphasized the importance of mentors, contract review, and considering regional factors like managed care and ancillary revenue streams when choosing a practice.
Overhead Management: Dr. St. Pierre’s group reduced their overhead by transitioning into a hospital-affiliated model, which improved financial efficiency.
Industry Collaboration: He values physician involvement in medical device development and has contributed to innovations like the BioWick rotator cuff anchor and the Mako robotic shoulder replacement.
Mako Robotic Shoulder Surgery: Dr. St. Pierre is part of a global team developing this cutting-edge technology, with FDA approval recently granted, signaling a transformative advance in shoulder surgery.
Planning for Retirement: He advocates for retiring to something meaningful rather than simply retiring from medicine, sharing his personal journey of preparing for life after surgery.
Passion for Wine: Dr. St. Pierre pursued a Master of Wine certification, a rigorous program blending science, viticulture, and business, becoming one of a select few in the world to achieve this level.
Future Endeavors: He plans to continue contributing to wine education and management while staying engaged with the medical industry, ensuring a fulfilling post-retirement phase.
Lifelong Learning: Dr. St. Pierre underscores the importance of challenging oneself with new pursuits, such as studying wine or learning an instrument, to keep the mind active and engaged.
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