Locum Tenens Uncovered: Insights from Industry Expert Corey Kleinschmidt (Part 2)
Wealth Planning for the Modern Physician
Release Date: 04/30/2025
From Academia to Innovation: Redefining Pain Medicine with Dr. Peter Staats (Part 1)
Wealth Planning for the Modern Physician
In Part one of this two‑part conversation, Dr. Peter Staats shares the formative experiences that shaped his path into anesthesiology and pain medicine, beginning with his upbringing in Hawaii and the profound intellectual influence of his father, a pioneering academic psychologist. This early exposure to integrative thinking laid the groundwork for Dr. Staats’ approach to medicine, one that challenged traditional silos and emphasized the interconnectedness of behavior, psychology, and physiology. His medical training, initially aimed toward orthopedic surgery, ultimately shifted...
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Peer Review, Workplace Violence, and Protecting Your Career with Dr. David Koronkiewicz
Wealth Planning for the Modern Physician
Dr. David Koronkiewicz, a retired orthopedic surgeon and current leader in healthcare quality, safety, and risk management, joins the podcast to discuss two major issues affecting physicians today: the peer review system and workplace violence in healthcare. Drawing from more than 30 years in clinical practice and extensive experience in administrative leadership, he offers a rare, multidimensional perspective on how internal hospital processes can deeply impact a physician’s career, finances, and long‑term wellbeing. Koronkiewicz explains how peer review—originally intended to...
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Asset Protection Essentials for Physicians with Attorney Bo Loeffler
Wealth Planning for the Modern Physician
Attorney Bo Loeffler returns to the podcast to revisit with David the foundational principles of asset protection—what it is, why physicians need it, and how proper timing and structure make all the difference. The conversation begins with an overview of risk for physicians, from malpractice and employee claims to real estate liability and auto accidents and stresses the importance of addressing these risks before they arise. Bo and David emphasize the crucial concept that asset protection is only effective when implemented ahead of any foreseeable claim. The discussion then shifts to the...
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Ethical Entrepreneurship in Medicine: Building Smarter Practices with Dr. Paul Lynch
Wealth Planning for the Modern Physician
In this episode, host David Mandell welcomes Dr. Paul Lynch, a double board-certified anesthesiologist and pain management specialist, entrepreneur, and business leader. Dr. Lynch shares his remarkable journey from aspiring psychiatrist to pain medicine innovator—a shift inspired by his mother-in-law’s battle with cancer and the discovery of interventional pain treatments that could transform patients’ lives. His early experiences at the Mayo Clinic shaped his belief in comprehensive, integrated care—a philosophy that became the foundation for his first practice, Arizona Pain, which...
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Thriving in a Changing Healthcare Landscape with Jerry Kelsheimer
Wealth Planning for the Modern Physician
In this episode of the Wealth Planning for the Modern Physician Podcast, David Mandell welcomes back Jerry Kelsheimer, President of Medic Management Group. With decades of experience in healthcare business management, Jerry discusses how the healthcare landscape has changed dramatically over the past five years, affecting physicians' financial performance and operational efficiency. He outlines the evolving challenges medical practices face—including reduced reimbursements, higher labor costs, and increasing patient demands and stresses the importance of disciplined, intentional business...
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The Journey from Pediatrics to Scrub Sisters with Dr. Jacqueline Winkelmann
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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Innovation, Industry, and Ancillaries: Lessons from Dr. Jack Bert (Part 2)
Wealth Planning for the Modern Physician
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...
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Innovation, Industry, and Ancillaries: Lessons from Dr. Jack Bert (Part 1)
Wealth 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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How Practices Can Build the Right Physician Comp Models Today and Beyond with Attorney Jason Greis
Wealth Planning for the Modern Physician
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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The Journey from Solo Practice to Industry Leader with Dr. Cynthia Matossian
Wealth Planning for the Modern Physician
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...
info_outlineIn this second episode of a two-episode interview, host David Mandell continues his conversation with Corey Kleinschmidt, an industry veteran in the locum tenens space.
The episode kicks off with a recap of Part 1 and a reintroduction to Cory’s extensive background in the industry, including his work with Jackson Healthcare and his current role at Locumpedia. The focus then shifts to actionable steps for physicians considering locum—starting with educating themselves through resources like Locumpedia’s No BS Guide and connecting with other providers who’ve already taken the plunge.
Cory outlines the importance of understanding the business side of locums, emphasizing that physicians are essentially independent contractors. This means getting smart about taxes, possibly forming an LLC, and making strategic choices about which agencies to partner with. He explains how working with staffing firms can simplify everything from job placement to credentialing and malpractice coverage, while also highlighting the variability in agency models—some being high-touch and others more transactional.
Licensing and credentialing are also critical topics covered in this episode. Cory discusses the value of multi-state licensing and the Interstate Medical Licensure Compact (IMLC), as well as how staffing firms often assist in navigating these hurdles. The conversation wraps up with a look at contracts, pay structures, and what to expect in terms of housing, travel reimbursement, and malpractice coverage. David and Cory underscore the importance of doing your homework to ensure a successful and rewarding locum tenens experience.
KEY INSIGHTS:
- The No BS Guide on Locumpedia is a comprehensive starting point for understanding locum tenens.
- Locumpedia’s “Locum CME” news roundup keeps physicians up to date on trends, including how AI is shaping the field.
- Talking to other physicians with locum experience can offer real-world insight into the pros and cons.
- Most physicians working locums are classified as independent contractors and should understand how this affects taxes and benefits.
- Many physicians form LLCs to optimize tax deductions and liability protection.
- Staffing firms play a central role in matching physicians to opportunities and handling all non-clinical logistics.
- There are over 200 locum tenens agencies, so it’s important to research and vet potential partners through reviews and referrals.
- The Interstate Medical Licensure Compact (IMLC) can simplify multi-state licensing for qualified physicians.
- Staffing firms often provide malpractice insurance, travel and housing—details that should be reviewed in the contract.
- Contracts typically include compensation terms, responsibilities, reimbursement policies, and clauses like noncompetes and cancellation terms.
Learn more, including additional show notes, links, and detailed key takeaways, by visiting physicianswealthpodcast.com.
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