In a valuable episode of the Wealth Planning for the Modern Physician podcast, host David Mandell, JD, MBA, spoke with Dr. Matthew Provencher, an orthopedic surgeon, Navy veteran, former team physician for the New England Patriots and Boston Red Sox, and current partner at The Steadman Clinic in Vail, Colorado. Dr. Provencher’s story spans small-town roots, elite military service, academic medicine, professional sports, and entrepreneurial ventures. His journey offers physicians insights on leadership, business, and the importance of patience in building a meaningful career.

From New Hampshire to the Naval Academy

Dr. Provencher grew up in the small town of Barrington, New Hampshire. His path took him to the U.S. Naval Academy, where he excelled as a rower and student leader. Although his original goal was to become a Navy pilot, eyesight limitations redirected his career. With guidance from an orthopedic mentor, he pursued medicine, an early example of turning setbacks into opportunities.

After medical school at Dartmouth, he began his military career as a Navy physician. His training and leadership roles took him around the world, from treating Navy SEALs in San Diego to serving as director of surgical services on the USNS Mercy, where he led humanitarian missions and multinational collaborations. These experiences shaped his philosophy of service, teamwork, and resilience.

Lessons from elite teams

Whether working with SEALs, professional athletes, or elite surgeons, Dr. Provencher has observed consistent themes of discipline, humility, and teamwork. At Coronado, he helped pioneer the Navy’s tactical athlete program, which emphasized multidisciplinary care (physical therapy, nutrition, mental health, and conditioning) in order to optimize performance and resilience.

Later, as chief of sports medicine at Massachusetts General Hospital, he worked closely with the Patriots and Red Sox during championship seasons. There, he applied lessons from the military to professional sports, emphasizing precision medicine, performance analytics, and injury prevention. The takeaway, he explained, is that “health matters” at every level, and success depends on collaboration across specialties and disciplines.

Navigating academic and private practice models

Transitioning from the Navy to Mass General brought new challenges. For the first time, he had to think about compensation structures, contracts, and financial planning, areas he had largely been shielded from in military service. With guidance from advisors, he learned to navigate the complexities of academic medicine and negotiate fair, comprehensive packages.

Dr. Provencher highlighted the importance of understanding that “it’s all about the package,” not just salary, but also resources, support, and opportunities for growth. Negotiation, he advised, is essential, as institutions rarely offer benefits without being asked.

Eventually, Provencher moved to The Steadman Clinic, a unique physician-led practice in Vail, Colorado, that combines private practice with a strong academic mission. The clinic’s nonprofit research institute, with significant NIH and Department of Defense funding, allows him to remain deeply engaged in scholarship and innovation while practicing in a patient-centered environment.

Private equity and practice growth

The Steadman Clinic’s recent private equity investment mirrors a broader trend across specialties. Provencher noted that private equity is not a one-size-fits-all solution, but in the right circumstances, it can provide scale, capital, and competitiveness.

His advice to physicians is clear: Focus on cultural fit. “All firms have the same financial goal,” he explained. “It’s how you get there that matters.” Selecting the right partner requires careful due diligence, legal and financial guidance, and a clear understanding of governance structures. Retaining physician influence in clinical decision-making and practice direction, he emphasized, is critical to long-term success.

Entrepreneurship and innovation

Beyond surgery, Provencher is an entrepreneur. One of his ventures, Proven Performance Technology, applies data analytics, AI, and predictive modeling to human performance and injury recovery. Born from his work with Navy SEALs and professional athletes, the company now partners with organizations such as Fox Sports. For him, entrepreneurship reflects both his engineering background and his desire to solve problems that affect patients and athletes alike.

Building a company, he admitted, has taught him more about persistence, leadership, and adaptability than almost any other experience. “You don’t build a company in a day,” he said. “It takes time, diligence, and patience.”

The value of patience

Asked for one piece of advice for young physicians, Dr. Provencher offered a simple but powerful answer: Patience. From waiting for fellowship in the Navy, to building entrepreneurial ventures over years, to navigating financial and career transitions, he emphasized that lasting success requires time, perseverance, and steady improvement. For ambitious physicians eager to sprint toward success, this reminder may be the most valuable lesson of all.

Conclusion

Dr. Matthew Provencher’s career illustrates the intersection of medicine, leadership, business, and innovation. From Navy ships to NFL sidelines to the mountains of Colorado, his experiences highlight the importance of adaptability, teamwork, and patience. For today’s physicians (whether in training, practice, or transition) his journey offers both inspiration and practical lessons: Be deliberate in career choices, value cultural fit in partnerships, and remember that building something meaningful takes time.

Click here to listen to the entire conversation with guest Dr. Matthew Provencher and host David Mandell, JD, MBA, or access the full library of Wealth Planning for the Modern Physician episodes and subscribe on your favorite podcast platform.

David B. Mandell is an attorney, wealth manager, author, and partner in the wealth management firm OJM Group, LLC, where he and his team provide comprehensive and multidisciplinary financial planning services tailored specifically for physicians across the United States.

David hosts the Wealth Planning for the Modern Physician Podcast, now in its fifth season with over 95 episodes and 50,000+ downloads. The show focuses on the unique wealth planning concerns faced by today’s doctors and features interviews with physicians across specialties and stages of their careers, as well as insights from financial and industry experts. Listeners gain practical tips on building wealth, protecting assets, reducing taxes, and achieving long-term financial goals. Click here to listen and subscribe.

He is also the co-author of more than 15 books, including the newest release, Wealth Strategies for Today’s Physician: A Multi-Media Playbook. This innovative guide includes over 250 pages of actionable content and more than 90 embedded links to videos and podcast episodes. Organized into seven key strategies, the Playbook helps physicians reduce taxes, invest wisely, choose the right insurance, protect their assets, and plan for retirement. Click here to get your free print copy or eBook download, available exclusively to members of the KevinMD community.

David has spoken at major national medical meetings, including those hosted by the American Academy of Ophthalmology, the American Association of Orthopaedic Executives, and the International College of Surgeons. He earned his bachelor’s degree from Harvard University, his law degree from UCLA School of Law, and his MBA from UCLA Anderson.

Connect with David and OJM Group on their website, LinkedIn, Facebook, Instagram, YouTube, and X @OJMGroup.

Disclosure:

OJM Group, LLC. (“OJM”) is an SEC-registered investment adviser with its principal place of business in the State of Ohio. SEC registration does not constitute an endorsement of OJM by the SEC nor does it indicate that OJM has attained a particular level of skill or ability. OJM and its representatives are in compliance with the current notice filing and registration requirements imposed upon registered investment advisers by those states in which OJM maintains clients. OJM may only transact business in those states in which it is registered or qualifies for an exemption or exclusion from registration requirements. For information about OJM, please visit http://adviserinfo.sec.gov/ or contact us at (877) 656-4362.

This article contains general information that is not suitable for everyone. The information contained herein should not be construed as personalized legal or tax advice, or as a recommendation of any particular security or strategy. Investment involves risk and possible loss of principal capital. There is no guarantee that the views and opinions expressed in this article will be appropriate for your particular circumstances. Tax law changes frequently, accordingly information presented herein is subject to change without notice. You should seek professional tax and legal advice before implementing any strategy discussed herein.