Podcast Episode 37 – 50 Years in Clinical Practice, and Still in Pursuit of “Wow”!! – Dr. Kenneth Magid
Episode 37 – Do you still have the career joy you had when you started your practice? Or, have the administrative regulations, patient complaints, and decrease in reimbursement crushed your soul and sucked the joy out of medicine for you? If you’re feeling these days like things just aren’t as good as you’d like them to be in your job, then you need to hear this episode from Dr. Kenneth Magid.
He has been in practice for 50 years. Can you believe that? 50 years!! After a half century, he still loves going to work, taking care of patients, and teaching students. Five decades after training, he still says he is in pursuit of “WOW.”
Wouldn’t you love to have that be your legacy? Wouldn’t you give anything to have the same excitement for your career now that you had when you left your training program? If you’re still pursuing that career satisfaction that you’ve always craved, listen to this episode with Dr. Kenneth Magid. Follow his advice and you can have the same joy that he has. Rather than burning out, get fired up for your career and get back into the pursuit of “WOW!!”
Free Resource: The Scope of Practice Reading List
Check out the additional free resources available at The Scope of Practice!
- Business management resources
- Personal finance resources
- Podcasting resources
- Recommended online courses
- Recommended books
Meet Dr. Kenneth Magid
Join the Business and Personal Finance for Physicians and Dentists Facebook Group!
Most physicians and dentists come out of training programs with a huge amount of personal debt and little to no idea of how to actually run a clinical practice. This Facebook community is for anyone who wants to learn more about how to manage their business more successfully and master their personal finances.
Check out the Doctor Podcast Network!
The Doctor Podcast Network is a group of physician and physician family podcasters with incredible messages to share with physicians. I’m incredibly excited to be a founding member of the organization. We are a large and growing network with incredible outreach.
We podcast about any and all topics that are important to physicians and their families including:
- Financial wellness
- Business mastery and leadership
- Marriage and family support
- Real estate
- and much more!
Click here and come check out the great podcasts that are a part of the network. If you’re thinking about starting a podcast, we’d love to have you join us! Help us reach out to physicians all over the world!
One-on-one personal finance and business coaching
If you need a little more individualized help figuring out:
- How to build and implement a successful long-term finance strategy
- How to budget effectively without going crazy
- What to do in order to get you and your spouse on the same page with your finances
- Writing a resume
- How to find the right practice to join
- Or anything else related to business or personal finance
I’d love to help you so you can have the successful career and financial freedom you deserve. Just click here and email me to set up a free consultation to determine if one-on-one coaching is right for you.
I’ve coached hundreds of families to eliminate millions of dollars in debt and get their finances on track, and I’d love to help you do the same so you feel safe knowing your career and personal finances are as strong as you want them to be.
Click here and email me to set up a free consultation today!
FREE disability insurance quotes from Pattern: www.thescopeofpractice.com/pattern
Pattern Financial has an amazing platform for helping doctors easily navigate the world of disability insurance. They can find you true “own-occupation” disability insurance in minutes, and it’s completely free to get the quotes!
Unlike other companies, they are a true independent insurance broker, and one of very few that I trust to take care of physicians when they need it most.
Use this link to get the disability insurance quotes for free! Even if you’re not ready to buy disability insurance today, you can still get the free quotes so you’ll know how much to budget for it.
- 00:00 – Introduction to the episode
- 01:06 – Subscribe to the podcast, and please leave a review!
- 01:22 – Email me if you’re interested in getting one-on-one finance or career coaching.
- 02:32 – Check out the resources on the website to help you grow your business and master your personal finances.
- 03:28 – Introduction to Dr. Kenneth Magid.
- 04:44 – The Scope of Practice Podcast is pleased to welcome Dr. Kenneth Magid!
- 06:06 – In addition to owning his own private practice, Dr. Kenneth Magid also continues to teach at NYU School of Dentistry. He likes to teach because he genuinely
- 09:19 – Dr. Kenneth Magid tells his students, “You’d better bring your ‘A’ game if you want to play in my playground!”
- 11:02 – The biggest change in healthcare over the last 50 years is the managed care model.
- 12:29 – Providing the best possible care for his patients is what drove Dr. Kenneth Magid to succeed and remain in private practice with a cash pay model over the last 50 years. He talks about how is in pursuit of “wow.” Being in pursuit of “wow” means doing things differently from everyone else! That also means telling people about the great things you’re doing.
- 17:13 – The cash pay model will work in some branches of medicine just as they do for dentistry.
- 19:02 – How do medical specialists who can’t really utilize the cash pay model (e.g. surgeons, oncologists) navigate the world of reimbursements?
- 22:14 – Are dentists trending towards an employed clinician model?
- 24:18 – Dr. Kenneth Magid shares why flexibility and autonomy are invaluable to him.
- 25:44 – One of the most valuable lessons Dr. Kenneth Magid learned is what he calls the “Triangle of Benefit.” The patient is at the top of the triangle. The bottom of the triangle is “You” and “The Practice.” Any change in your practice needs to be good for all three points of the triangle.
- 27:37 – The most difficult part of private practice? Getting your whole team to function as a smoothly operating unit.
- 30:12 – Dr. Kenneth Magid shares his tips for cultivating the right culture for your organization.
- 33:59 – Dr. Magid once had a time where he basically had to fire 100% of his team and start over. How do you come back from that?
- 35:41 – How does Dr. Kenneth Magid keep going and maintain that love for his craft after 50 years in your career?
- 37:29 – Dr. Kenneth Magid shares his parting advice.
- 39:30 – Summary of the episode
- 41:36 – This week’s free resource is a guide called “The Scope of Practice Reading List.”
- 42:10 – Signing off!
Listen to the Next Episode
Full Disclosure: Some of the links to the resources listed above may be affiliate links, which means that I will receive a small commission if you click through and make a purchase. But it doesn’t cost you anything extra—it’s just a way to show you appreciate what we do here. Thanks for this.
burnout, career, culture, dentist, employee, physician, practice management