Physician Wealth Meds: The Power of Practice Ownership
September 29, 2026
For physicians, building wealth often starts with a strong income, but income is only one part of the picture. On a recent episode of Physician Wealth Meds, Warner Wealth Financial Advisor Kevin Sullivan spoke with Dr. John Daggett about another potential component of long-term wealth: Ownership.
Dr. Daggett’s story offers a look at how a physician can build a practice around greater autonomy, meaningful patient relationships, and the potential to create a business asset alongside their medical career.
Case Study
After years of practicing primary care, hospital medicine, and briefly working in physician leadership, Dr. Daggett realized he wanted to spend more of his time doing what he enjoyed most: caring for patients.
That led him to direct primary care (DPC), a model that allows physicians to work with a smaller patient panel and offer more direct access and longer appointments.
Rather than immediately building a large practice, Dr. Daggett started small. A Facebook post in a local community group generated approximately 45 inquiries and pre-enrolled patients before he even opened his doors. Nearly two years later, his practice has grown to roughly 225 patients, with a long-term goal of reaching approximately 400–500.
Consulting Physician
Dr. John Daggett is an internal medicine physician and the founder of a direct primary care practice in Yarmouth, Maine. His practice is intentionally designed around accessibility and relationships. New patient appointments can last 60–90 minutes, while follow-up appointments typically run 30–45 minutes. Patients can also reach him directly by phone, video, or text. For Dr. Daggett, the model isn't simply about changing how he practices medicine. It has also created an opportunity to build something he owns.
Diagnosis
The challenge: earning an income without necessarily building an asset. Kevin Sullivan and Dr. Daggett discuss an important distinction for physicians: a high income does not automatically translate into long-term wealth.
Traditional physician compensation is largely tied to time and patient volume. By contrast, owning a medical practice can introduce another dimension to a physician's financial picture—the potential value of a business. For Dr. Daggett, ownership provides greater control over how he spends his time, how he delivers care, and how he grows his practice.
Treatment Plan
Build deliberately. Create recurring revenue. Think beyond today's income.
Dr. Daggett launched his practice with a membership-based model, initially charging $125 per month. The membership provides patients with access to primary care, including certain procedures and other services. The intentionally smaller patient panel allows him to maintain the type of physician-patient relationships he was looking for while creating predictable recurring revenue for the practice. He also used a gradual approach to growth. While continuing some hospital shifts as a bridge, he has been able to grow the practice without relying on immediate scale.
From a wealth-management perspective, this creates an important distinction: the physician isn't only earning from the practice—they are building the practice itself.
Over time, that business may become an asset that can contribute to a physician's broader financial plan, whether through continued income, future growth, or eventually transitioning the practice to another physician.
Prognosis
Dr. Daggett sees the potential for his practice to become a long-term asset while giving him more control over his professional and personal life.
That doesn't mean practice ownership is the right path for every physician. Rather, his experience illustrates why physicians may want to consider both income and ownership when thinking about long-term wealth.
For financial advisors working with physicians, conversations about wealth can extend beyond investment portfolios. Business ownership, cash flow, future liquidity, retirement planning, and the eventual value or transition of a practice can all be important pieces of the larger financial picture.
As Kevin Sullivan puts it in the episode, Wealth isn't necessarily limited to what appears on an income statement. It can also involve having greater control over your time, decisions, and the assets you build.
About the Guest
Dr. John Daggett is an internal medicine physician and founder of a direct primary care practice in Yarmouth, Maine. After practicing in traditional primary care and hospital medicine, he launched his own practice to create more meaningful and accessible relationships with his patients.
Outside of medicine, Dr. Daggett enjoys spending time with his wife and three sons, coaching sports, hiking, playing jazz and saxophone, and performing Highland bagpipes.
Physician Wealth Meds is hosted by Kevin Sullivan, a financial advisor who explores the financial, business, and wealth-management considerations that are unique to physicians and other healthcare professionals.
Dr. John Daggett is not affiliated with or endorsed by LPL Financial or Warner Wealth. The opinions expressed are for general informational purposes only and should not be considered specific investment advice or recommendations. Please consult with a qualified professional regarding your individual circumstances.