Part 1: Private Equity: Savior or Existential Threat with Otolaryngologists Drs. William Blythe and Drew Locandro

26min | 12/24/2021

Description

In many situations, when private equity comes calling, the owners of the practice are close to retirement and they are offered more money than they’d ever get from another physician buying into the practice. My practice has been approached by private equity twice. I’m in my early 40s, so the decision to sell is a lot more complicated. We didn’t ultimately sell, but while negotiations were taking place, I was concerned, but wasn’t sure if my concerns were valid or if I was even considering the issues I should be concerned about. Private equity was recently a topic of discussion on ENT Connect, the American Academy of Otolaryngology’s chatroom, so I invited two of physicians who had given eloquent, concise arguments for and against selling onto the show to discuss their reasoning. It made for a very informative conversation. William R. Blythe, MD, is a General Otolaryngologist practicing at East Alabama Ear, Nose and Throat in Auburn/Opelika, Alabama. He’s been in the same practice with the same partners since finishing residency in 1997. He was the past Chief of Staff of East Alabama Health, where he served in almost every medical staff leadership position over the past 24 years. He served as President of the Alabama Society of Otolaryngology for ten years, and continued in his role as Annual Meeting Coordinator. He continues to serve on multiple committees for AAO-HNS, including CPT, AMPC, Reg-ENT Executive Committee, and is currently the Senior Director for Private Practice, Board of Directors and BOD Executive Committee. Drew Locandro, MD, is a practicing general otolaryngologist with Northwest ENT and Allergy - Marietta, Georgia. He joined a group practice there after residency in Albany NY and has practiced there since. He is president of his 6-physician group with 5 office locations and an ASC. He’s served as chairman of the department of surgery at Wellstar Kennestone Hospital as well as chair of the hospital quality assurance committee for several years. He’s also been a member of the American Academy of Otolaryngology Outcomes Research and Evidence Based Medicine Committees. Today's Sponsor is Locumstory. Find your next Locums assignment here: www.financialresidency.com/locumstory

Visit www.physiciansguidetodoctoring.com to connect, dive deeper, and keep the conversation going. Let’s grow!

Disclaimer:

This podcast is for informational purposes only and is not a substitute for professional medical, financial, or legal advice. Always consult a qualified professional for personalized guidance.

Hosted on Ausha. See ausha.co/privacy-policy for more information.

About Succeed in Medicine

Was your training enough to handle everything physician life demands? From lawsuits to leadership, career decisions to challenging conversations, balancing the personal with the professional — not enough was addressed in medical school, residency or fellowship. This show fills those gaps so you can live up to the expectations that come with the white coat — not just in the exam room, but in all the places your MD follows you. Your host, Dr. Bradley Block, a private practice ENT, is right there with you — navigating the same challenges and bringing in world-class guests to teach, as he puts it, “everything we should have been learning while we were memorizing Kreb’s cycle.” With nearly 500 episodes and close to half a million downloads, Brad has built a trusted space where physicians come for brass-tacks, immediately-applicable advice. You don’t need another certification. You need a podcast that covers personal finance, private practice, side-gigs, main-gigs, reacting to bad reviews, misinformation, social media, charting, parenting, communicating, negotiating, leading, managing, teaching, learning and what to do when someone yells, “Is there a doctor on board?”

Hosted on Ausha. See ausha.co/privacy-policy for more information.

About Succeed in Medicine

Was your training enough to handle everything physician life demands? From lawsuits to leadership, career decisions to challenging conversations, balancing the personal with the professional — not enough was addressed in medical school, residency or fellowship. This show fills those gaps so you can live up to the expectations that come with the white coat — not just in the exam room, but in all the places your MD follows you. Your host, Dr. Bradley Block, a private practice ENT, is right there with you — navigating the same challenges and bringing in world-class guests to teach, as he puts it, “everything we should have been learning while we were memorizing Kreb’s cycle.” With nearly 500 episodes and close to half a million downloads, Brad has built a trusted space where physicians come for brass-tacks, immediately-applicable advice. You don’t need another certification. You need a podcast that covers personal finance, private practice, side-gigs, main-gigs, reacting to bad reviews, misinformation, social media, charting, parenting, communicating, negotiating, leading, managing, teaching, learning and what to do when someone yells, “Is there a doctor on board?”

Hosted on Ausha. See ausha.co/privacy-policy for more information.

Description

In many situations, when private equity comes calling, the owners of the practice are close to retirement and they are offered more money than they’d ever get from another physician buying into the practice. My practice has been approached by private equity twice. I’m in my early 40s, so the decision to sell is a lot more complicated. We didn’t ultimately sell, but while negotiations were taking place, I was concerned, but wasn’t sure if my concerns were valid or if I was even considering the issues I should be concerned about. Private equity was recently a topic of discussion on ENT Connect, the American Academy of Otolaryngology’s chatroom, so I invited two of physicians who had given eloquent, concise arguments for and against selling onto the show to discuss their reasoning. It made for a very informative conversation. William R. Blythe, MD, is a General Otolaryngologist practicing at East Alabama Ear, Nose and Throat in Auburn/Opelika, Alabama. He’s been in the same practice with the same partners since finishing residency in 1997. He was the past Chief of Staff of East Alabama Health, where he served in almost every medical staff leadership position over the past 24 years. He served as President of the Alabama Society of Otolaryngology for ten years, and continued in his role as Annual Meeting Coordinator. He continues to serve on multiple committees for AAO-HNS, including CPT, AMPC, Reg-ENT Executive Committee, and is currently the Senior Director for Private Practice, Board of Directors and BOD Executive Committee. Drew Locandro, MD, is a practicing general otolaryngologist with Northwest ENT and Allergy - Marietta, Georgia. He joined a group practice there after residency in Albany NY and has practiced there since. He is president of his 6-physician group with 5 office locations and an ASC. He’s served as chairman of the department of surgery at Wellstar Kennestone Hospital as well as chair of the hospital quality assurance committee for several years. He’s also been a member of the American Academy of Otolaryngology Outcomes Research and Evidence Based Medicine Committees. Today's Sponsor is Locumstory. Find your next Locums assignment here: www.financialresidency.com/locumstory

Visit www.physiciansguidetodoctoring.com to connect, dive deeper, and keep the conversation going. Let’s grow!

Disclaimer:

This podcast is for informational purposes only and is not a substitute for professional medical, financial, or legal advice. Always consult a qualified professional for personalized guidance.

Hosted on Ausha. See ausha.co/privacy-policy for more information.

About Succeed in Medicine

Was your training enough to handle everything physician life demands? From lawsuits to leadership, career decisions to challenging conversations, balancing the personal with the professional — not enough was addressed in medical school, residency or fellowship. This show fills those gaps so you can live up to the expectations that come with the white coat — not just in the exam room, but in all the places your MD follows you. Your host, Dr. Bradley Block, a private practice ENT, is right there with you — navigating the same challenges and bringing in world-class guests to teach, as he puts it, “everything we should have been learning while we were memorizing Kreb’s cycle.” With nearly 500 episodes and close to half a million downloads, Brad has built a trusted space where physicians come for brass-tacks, immediately-applicable advice. You don’t need another certification. You need a podcast that covers personal finance, private practice, side-gigs, main-gigs, reacting to bad reviews, misinformation, social media, charting, parenting, communicating, negotiating, leading, managing, teaching, learning and what to do when someone yells, “Is there a doctor on board?”

Hosted on Ausha. See ausha.co/privacy-policy for more information.

About Succeed in Medicine

Was your training enough to handle everything physician life demands? From lawsuits to leadership, career decisions to challenging conversations, balancing the personal with the professional — not enough was addressed in medical school, residency or fellowship. This show fills those gaps so you can live up to the expectations that come with the white coat — not just in the exam room, but in all the places your MD follows you. Your host, Dr. Bradley Block, a private practice ENT, is right there with you — navigating the same challenges and bringing in world-class guests to teach, as he puts it, “everything we should have been learning while we were memorizing Kreb’s cycle.” With nearly 500 episodes and close to half a million downloads, Brad has built a trusted space where physicians come for brass-tacks, immediately-applicable advice. You don’t need another certification. You need a podcast that covers personal finance, private practice, side-gigs, main-gigs, reacting to bad reviews, misinformation, social media, charting, parenting, communicating, negotiating, leading, managing, teaching, learning and what to do when someone yells, “Is there a doctor on board?”

Hosted on Ausha. See ausha.co/privacy-policy for more information.

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