Expenses in business are as certain the sunrise, yet both my guest today and me meet prospective clients all the time who don’t seem to have a handle on them. If you don’t, problems are coming. Planning expenses is a natural requirement of any successful practice, and my guest today helps her clients do just that.

Michelle O’Connor, a believer in following one’s dreams, has risen from an inner-city community to a life of abundance. With corporate expertise in Strategic Planning and Execution, she helps entrepreneurs achieve their goals. Michelle supports organizations through strategic processes, coaching entrepreneurs to develop action plans for success. She has facilitated Strategic Planning Retreats in Jamaica, Trinidad & Tobago, and the Dominican Republic, and reached hundreds through her Purpose Driven Conference. Her current mission is to help Medical Private Practice Owners create sustainable practices. As a wife and mother, she strives for a brighter future, motivated by the philosophy “Ad Astra Per Aspera.”

In this episode Carl White and Michelle O’Connor discuss:

1. Why practice owners fail to plan for expenses

2. Why it is important to monitor expenses

3. What if expenses are more than revenue

Want to be a guest on PracticeCare®?

Have an experience with a business issue you think others will benefit from? Come on PracticeCare® and tell the world! Here’s the link where you can get the process started.

Connect with Michelle O’Connor

LinkedIn - https://www.linkedin.com/in/michelletoconnor/

Facebook - https://www.facebook.com/successbiznessclub

Instagram - https://www.instagram.com/successbiznessclub/

Connect with Carl White

Website: http://www.marketvisorygroup.com

Email: whitec@marketvisorygroup.com

Facebook: https://www.facebook.com/marketvisorygroup

YouTube: https://www.youtube.com/channel/UCD9BLCu_i2ezBj1ktUHVmig

LinkedIn: http://www.linkedin.com/in/healthcaremktg

Have you gotten an unsolicited offer to buy your practice recently? You might not have realized it, but that’s a signal that your local market might be attractive for you to be a buyer. What do you do at that point? My guest today helps his clients buy practices, and he’ll tell us what he thinks.

E.J. Cyran has spent over a decade as a healthcare lawyer, which means he represents physicians, dentists and their practices in negotiating vendor agreements, buying or selling their practice, handling associate buy-ins, and getting advice on their regulatory and payor issues. He knows his way around HIPAA, telehealth, Medicare and all other matters affecting healthcare practices. E.J. is a go-to lawyer for his clients.

In this episode Carl White and E.J. Cyran discuss:

• Why take the meeting for an unsolicited offer to buy your practice
• How to tell how serious the buyers are
• Financing options available
• Comparing terms of sale (ex: higher vs lower offer, more control, better care for patients, etc)
• Determining what your own non-negotiables are (ex: you do or do not want to stay on after the sale, the buyer’s approach to patient care, etc).
• Factors to evaluate in a good purchase offer

Want to be a guest on PracticeCare®?

Have an experience with a business issue you think others will benefit from? Come on PracticeCare® and tell the world! Here’s the link where you can get the process started.

Connect with E.J. Cyran

https://www.foxrothschild.com/edward-j-cyran

Connect with Carl White

Website: http://www.marketvisorygroup.com

Email: whitec@marketvisorygroup.com

Facebook: https://www.facebook.com/marketvisorygroup

YouTube: https://www.youtube.com/channel/UCD9BLCu_i2ezBj1ktUHVmig

LinkedIn:

http://www.linkedin.com/in/healthcaremktg

Are the types of patients willing to pay cash for treatment the same as, or different from, those who use their insurance? Obviously they’re different, at least in some respects. If that’s the case, then attracting new patient leads, and handling them, is different as well. How do you attract cash paying patients? My guest today did it himself, and he coaches his healthcare clients on how to do it, and he’ll share his insights with us.

Daniel Tribby is a healthcare provider, effective business growth strategist, award winning author, top keynote speaker with a vision to help healthcare entrepreneurs build a practice that serves it's patients and sustain profitability for the long term.

In this episode Carl White and Daniel Tribby discuss:

• The similarities and differences between insurance-based patients and cash-based patients
• The keys to attracting cash-based patients
• The keys to converting cash-based patients into paying patients

Want to be a guest on PracticeCare?

Have an experience with a business issue you think others will benefit from? Come on PracticeCare and tell the world! Here’s the link where you can get the process started.

Connect with Daniel Tribby

https://www.linkedin.com/in/iamdanieltribby/

Connect with Carl White

Website: http://www.marketvisorygroup.com

Email: whitec@marketvisorygroup.com

Facebook: https://www.facebook.com/marketvisorygroup

YouTube: https://www.youtube.com/channel/UCD9BLCu_i2ezBj1ktUHVmig

LinkedIn:

http://www.linkedin.com/in/healthcaremktg

If you take health insurance as payment, then choosing good payers makes sense. How do you figure out which payers to contract with? It’s a logical question that has a very involved, sometimes not so logical answer. My guest today helps his clients work successfully with insurance companies, including which ones to contract with, and he’ll share some tips with us.

David Zetter is the founder and President of Zetter HealthCare, LLC in Mechanicsburg, PA and has over 24 years of operational and healthcare experience. David is nationally recognized for his speaking, presentations and healthcare business expertise. He is well versed in regulatory requirements, revenue cycle management, credentialing and contracting, compliance, and coding and documentation. He is considered an expert on Medicare, not only by his clients, but also through consultant colleagues and healthcare attorneys across the country. David is an expert on ERISA regulations, which protect over 80% of the claims in the US. He knows how to stop payor recoupments dead in their tracks, and what is legal and illegal in many payor contracts.

In this episode Carl White and David Zetter discuss:

1. How to decide which insurance companies and plans to contract with
2. How to evaluate the payor, their contract, their reimbursement rates and other criteria for participation
3. Additional tips that can be done to properly evaluate payor and plan proposals?

Want to be a guest on PracticeCare®?

Have an experience with a business issue you think others will benefit from? Come on PracticeCare® and tell the world! Here’s the link where you can get the process started.

Connect with David Zetter

https://zetter.com/

https://www.linkedin.com/company/zetter-healthcare/

https://www.facebook.com/zetterhc

https://www.instagram.com/zetterhealthcare/

Connect with Carl White

Website: http://www.marketvisorygroup.com

Email: whitec@marketvisorygroup.com

Facebook: https://www.facebook.com/marketvisorygroup

YouTube: https://www.youtube.com/channel/UCD9BLCu_i2ezBj1ktUHVmig

LinkedIn: http://www.linkedin.com/in/healthcaremktg

Keeping good records is boring and tedious. Why bother? Because bad records can cost you thousands of dollars per year. My guest today helps her clients find those dollars in ways that are easy to track. She’ll share her ideas on this episode.

Alexis E. Gallati is the founder and Lead Tax Strategist at Cerebral Tax Advisors and Cerebral Wealth Academy, and she’s the author of the book Advanced Tax Planning for Medical Professionals. She has over 20 years of experience in high-level strategic tax planning and multi-state tax preparation, and she has trained at the highest level, holding two master’s degrees. Alexis grew up in a family of physicians and is married to a private practice physician. That’s why she understands how hard medical professionals work to get where they are and why she provides simple and accessible tax solutions tailored to busy physicians.

In this episode Carl White and Alexis Gallati discuss:

• Some simple examples of keeping good records leading to saving money (ex: mileage deduction, home office deduction)
• Some not so simple examples that are worth doing
• Tools and systems to track

Want to be a guest on PracticeCare?

Have an experience with a business issue you think others will benefit from? Come on PracticeCare and tell the world! Here’s the link where you can get the process started.

Connect with Alexis Gallati

Resources from Cerebral Tax Advisors: https://www.cerebraltaxadvisors.com/practicecare/

Cerebral Tax Advisors Facebook: https://www.facebook.com/cerebraltax

Cerebral Wealth Academy Facebook: https://www.facebook.com/cerebralwealthacademy YouTube: https://www.youtube.com/@cerebralwealthacademy

Personal LinkedIn: https://www.linkedin.com/in/alexis-gallati/

Connect with Carl White

Website: http://www.marketvisorygroup.com

Email: whitec@marketvisorygroup.com

Facebook: https://www.facebook.com/marketvisorygroup

YouTube: https://www.youtube.com/channel/UCD9BLCu_i2ezBj1ktUHVmig

LinkedIn: http://www.linkedin.com/in/healthcaremktg

Getting referrals from other patients is critical to the success of any local practice. Are you really getting as many referrals as you can? My guest today has built a system to make sure she can say she does, and she’ll give us some insights into her system on this episode.

Mary Lou Savino has been practicing physical therapy since 1992 and opened Be Fit PT & Pilates in 2008. She specializes in the use of Pilates as therapeutic exercise in rehab with an eclectic approach to incorporating Pilates, Dry Needling, Light Therapy and wellness modalities into treatments. Mary Lou has always been a fitness and health enthusiast, so her concept behind this integrated model was to be able to go beyond traditional PT and utilize things like light therapy, dry needling, Pilates and core strengthening, and massage therapies to be a more well-rounded practice and to be able to take PT to the next level.

In this episode Carl White and Mary Lou Savino discuss:

• When she realized that building a system for referrals was a good move
• The core elements of her system, for example, the front desk’s role, and measuring patient responses to the system
• What part(s) of the system she’s working on now, and why

Want to be a guest on PracticeCare®?

Have an experience with a business issue you think others will benefit from? Come on PracticeCare® and tell the world! Here’s the link where you can get the process started.

Connect with Mary Lou Savino

http://www.befitpt.com

https://www.facebook.com/BeFitPTinDG https://www.instagram.com/befitphysicaltherapypilates/?hl=en

www.linkedin.com/in/mary-lou-savino-b2127222

Connect with Carl White

Website: http://www.marketvisorygroup.com

Email: whitec@marketvisorygroup.com

Facebook: https://www.facebook.com/marketvisorygroup

YouTube: https://www.youtube.com/channel/UCD9BLCu_i2ezBj1ktUHVmig

LinkedIn: http://www.linkedin.com/in/healthcaremktg

All practices need referrals from other providers, even primary care practices. Building a referral network that performs is one of the most misunderstood strategies to grow a practice that I’ve seen in my time working with private practice owners. My guest today runs a coaching business devoted to fixing this for her clients, and she’ll walk us through some of the biggest mistakes practice owners make and how to fix them.

LynAnn Weaver is the founder & CEO of Healthcare Elevation Partners which has pioneered the fusion of healthcare leadership, business growth, and high performance coaching. As a former healthcare administrator turned Certified High Performance Coach, LynAnn is dedicated to elevating the success and well-being of physicians, healthcare leaders, and organizations. LynAnn has led teams to first-in-the-nation recognition, accelerated patient volume growth of physicians, practices, and service lines up to 67%, and has helped clients increase efficiency by 30% giving them more time to focus on the things and people most important to them.

In this episode Carl White and LynAnn Weaver discuss:

• The mistake of underestimating the size of a referral network
• The mistake of thinking one meeting with a referral source is enough
• The mistake of not being memorable to referral sources

Want to be a guest on PracticeCare®?

Have an experience with a business issue you think others will benefit from? Come on PracticeCare® and tell the world! Here’s the link where you can get the process started.

Connect with LynAnn Weaver

www.healthcareelevation.com

www.linkedin.com/in/lynannweaver

www.instagram.com/lynannweaver

www.facebook.com/lynannweaver

https://www.youtube.com/@HealthCAREElevation

Connect with Carl White

Website: http://www.marketvisorygroup.com

Email: whitec@marketvisorygroup.com

Facebook: https://www.facebook.com/marketvisorygroup

YouTube: https://www.youtube.com/channel/UCD9BLCu_i2ezBj1ktUHVmig

LinkedIn: http://www.linkedin.com/in/healthcaremktg

Adding a new associate sounds cut and dry. After all, they’re there to treat patients, for which they have the training to do so. Easy, right? Not so fast. There’s more to it. My guest today advises his clients on numerous accounting and operational issues, including hiring, and he’ll share his experience with us.

Joe Lessard is a partner at Professional Business Management, a healthcare practice management and accounting firm in the northwest Chicago suburbs. Joe has been with PBM since 2009 and a Principal since 2020. He has attained designations as a Certified Public Accountant (CPA), Health Practice Advisor (HPA), and as a Certified Healthcare Business Consultant (CHBC). He believes in rolling up his sleeves and is usually on site visiting his clients’ operations first-hand. Joe is responsible for all accounting and payroll services as well as personal and business tax returns for his clients. He helps them review operations and day-to-day aspects such as HR, employee benefits, retirement plans, collections, billing, and patient interactions. Every client has different needs and that’s why Joe’s commitment to his clients’ needs and his customer service is what he prides himself on.

In this episode Carl White and Joe Lessard discuss

• The office cultural considerations, for example, the mission, values, and accepted and not-accepted behaviors
• The operational considerations, for example, credentialing, scheduling, etc
• The marketing considerations, for example, the associate’s role in attracting patients
• Other considerations

Want to be a guest on PracticeCare®?

Have an experience with a business issue you think others will benefit from? Come on PracticeCare® and tell the world! Here’s the link where you can get the process started.

Connect with Joe Lessard

https://www.linkedin.com/in/joelessardpbm/

https://www.instagram.com/thedoctorscpa/

For more depth on this episode, read Understanding and Managing Overhead Costs in Your Practice, a blog this guest wrote about it.

Connect with Carl White

Website: http://www.marketvisorygroup.com

Email: whitec@marketvisorygroup.com

Facebook: https://www.facebook.com/marketvisorygroup

YouTube: https://www.youtube.com/channel/UCD9BLCu_i2ezBj1ktUHVmig

LinkedIn: http://www.linkedin.com/in/healthcaremktg