Feeling Burnt Out in Your Healthcare Practice?

We hear about it all the time: low margins, increasing costs, decreasing reimbursement, staffing issues, etc. And those are just the most common issues cited by people within the industry. But, as I've already shared, private healthcare practice has the potential to be a great business. So, if you're a practice owner who's feeling burnt out, here's one thing I think will transform your healthcare practice.

This week, I share the one thing that can transform a private healthcare practice. Here it is: Set aside one full day of "business work". On this day, you will work on ONLY one of the following:

-Working on the business (developing SOPs, etc. to guide routine operations)
-Business planning or vision-casting
-Thinking about the business
-Reading/Learning/Self-development in the area of business & entrepreneurship (NO CEU courses!)

I'm not saying this will "make it rain" at your business, but I've been doing this since 2021 and here's what it has done for me:

-It gives me dedicated time to fix "problems" in the business that area always nagging but never get done if you're in the clinic all day
-It gets me excited about the business & the team
-It helps get my head out of the daily grind and into the 30,000ft view
-It has greatly reduced stress.

What we cover in this Episode:

-Value-Drivers in a healthcare business
-The importance of taking time off to work on the business
-Building a team and culture at a healthcare practice
-Putting pieces in place for growth and scale
-Reducing the stress involved in managing a private healthcare practice
-Understanding the importance of identifying key metric in your healthcare practice
-Achieving Better Outcomes by working on personal & professional development as a practice owner

Full show notes: https://rehabupracticesolutions.com/better-outcomes-142

Learn More: https://rehabupracticesolutions.com
Podcast: https://www.betteroutcomes.show
Get the Book: https://amzn.to/3M2UZ6x
Book a call with me: https://calendly.com/rehabu/discovery
Connect with Me: https://www.rafisalazar.com

If you'd like to learn more about Strata EMR & RCM and achieving a 99.99% reimbursement rate for your PT, OT, or SLP Clinic head over to stratapt.com and book a demo with their team!

Is Big Healthcare a Net Positive or Net Negative for Society?

We hear this all the time: in the news, online, and during interviews with healthcare professionals. We hear that "Big Healthcare" is causing extreme damage to society. People cite things like: delayed authorizations, denied care, reducing provider reimbursement or payment, etc. Books have been written about how Big Healthcare Became Big Business. It seems large healthcare conglomerates garner most, if not all, of the criticism for problems within the healthcare system. But one must ask the question: are large healthcare companies inherently a negative thing within the industry? Do they play a role in cost reduction and access to needed healthcare services?

This week, I talk a little bit about this idea of "Big Healthcare" and whether it's a net negative or a net positive for society as a whole. I also discuss what small healthcare business owners should think about when it comes to running their businesses planning for the future.

What we cover in this Episode:

-Value-Drivers in a healthcare business
-Understanding the role that large healthcare companies play in the industry
-The problems with a Fee For Service system in healthcare
-Maintaining Human Connection within the big healthcare space
-How the incentives in today's healthcare environment lead to clinician burnout and wasted time
-Understanding the savings flow in industries like healthcare
-Achieving Better Outcomes by creating a valuable healthcare business

Full show notes: https://rehabupracticesolutions.com/better-outcomes-141

Learn More: https://rehabupracticesolutions.com
Podcast: https://www.betteroutcomes.show
Get the Book: https://amzn.to/3M2UZ6x
Book a call with me: https://calendly.com/rehabu/discovery
Connect with Me: https://www.rafisalazar.com

If you'd like to learn more about Strata EMR & RCM and achieving a 99.99% reimbursement rate for your PT, OT, or SLP Clinic head over to stratapt.com and book a demo with their team!

Real value-drivers in any healthcare business involve more than simple accounting trickery. Increasing value involves mitigating buyer-side risk after the sale.
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What are the real value drivers in healthcare businesses?

If you do a search on the internet for healthcare business valuations, you end up getting results that mention EBITA, multiples, and add-backs. Often the discussion falls into "accounting tricks" that can increase the sale price of the business by a few thousand dollars. Or, the conversation begins flying high in the sky, giving a 30,000 ft view of the "strategic" changes that owners can make to "dramatically increase the value" of their businesses. The problem is that those conversations rarely get down into the tactical.

So, this week, I talk about specific actions business owners can take to not just increase the "valuation" of their business, but actually increase the value of their business. When I say "increase the value", I mean increase the multiple of EBITA used to create a purchase offer. For example, I want to discuss ways to go from a purchase price of 1-2x EBITA to 3-4x or even 10x.

What we cover in this Episode:

-My journey of purchasing a physical therapy clinic
-Value-Drivers in a healthcare business
-Leadership and management in a valuable healthcare business
-Building a team to delegate key business functions to
-Go to Market Strategy for a successful healthcare business
-How to prevent burnout and wasted time
-Achieving Better Outcomes by creating a valuable healthcare business

Full Show Notes & Links: https://rehabupracticesolutions.com/better-outcomes-140

Learn More: https://rehabupracticesolutions.com
Podcast: https://www.betteroutcomes.show
Get the Book: https://amzn.to/3M2UZ6x
Book a call with me: https://calendly.com/rehabu/discovery
Connect with Me: https://www.rafisalazar.com

If you'd like to learn more about Strata EMR & RCM and achieving a 99.99% reimbursement rate for your PT, OT, or SLP Clinic head over to stratapt.com and book a demo with their team!