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!

What does a Successful Healthcare Tech Company do Differently?

When I work with clients in the healthcare technology space on their go to market strategy, inevitably we end up talking about operations within the company and how things get done. Most people know that only a fraction of startups end up becoming successful, sustainable businesses. The question is, why? What sets those successful startups apart from their peers? Why is it that they made it while many of their competitors fell to the wayside? Obviously, there's the whole product-market fit piece, but successful companies also operate differently than their peers. One overlooked area is the "culture" of the organization. A successful healthcare tech company has a culture that promote productivity, but also ensures team cohesion and fulfillment.

So, this week, I sit down with Jonas Duss, former CEO & cofounder of Kaia Health to discuss this very topic. We cover his career trajectory and experience running Kaia, and then we dive into creating and managing a health culture and team in a successful healthcare tech company

What we cover in this Episode:

-Jonas' career path starting as an engineer and moving towards co-founder at Kaia Health
-The key elements of business growth especially for a health tech startup
-Starting a healthcare tech business that scales
-Building a team for your healthcare tech business
-Go to Market Strategy for a successful healthcare tech company
-How to prevent burnout and wasted time
-Achieving Better Outcomes by creating a culture that takes care of its team

Get full show notes: https://rehabupracticesolutions.com/better-outcomes-139

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

#healthcaretech #healthtech #healthcarestartup #startup #healthcare #healthcareinnovation

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!

Get full show notes: https://rehabupracticesolutions.com/better-outcomes-138

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

How do go about starting and scaling a multi million dollar healthcare business?

When I speak and train at healthcare organizations and tech startups, the topic of scale & growth come up regularly. Often, this is in the context of go to market & business development strategy. Many founders and owners of healthcare businesses aspire to grow a multi million dollar healthcare business. But, healthcare's complexity poses challenges to new healthcare ventures as they start and scale.

So, this week, I sit down with Mike Murphy from Sunstone Management Advisory to discuss how he went about building a business to half a billion dollars or revenue, his work doing healthcare turnarounds, and the keys to building and scaling healthcare businesses into multi million dollar companies.

What we cover in this Episode:

-Mike's career path starting as an underwriter and transitioning to managing insurance plans
-The key elements of business growth
-Starting a healthcare business in a way that scales
-Building a leadership team for your healthcare business
-Go to Market Strategy in healthcare
-Understanding who your target market is
-Achieving Better Outcomes through solid business practices

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!

What are some key skills for Healthcare Leaders & Executives?

Last week on the podcast, I discussed my nonclinical career path and how I went from staff clinician to a healthcare business consultant and practice owner. After that episode, I received a few emails asking for specific skills or areas of personal development that help in advancing from a clinical role into healthcare administration or leadership. I figured it was worth exploring, and actually writing down what I considered to be key skills for healthcare leaders & executives.

So, this week, I dive into the 5 key skills, or characteristics, that I consider key factors in transitioning from clinical work to healthcare leadership and/or executive roles.

What we cover in this Episode:

The importance of intentionally planning your professional growth and development
Communication as a key skill for healthcare leaders and executives
Starting a healthcare business with no funding
Using Data to make decisions or create communication pieces
Key principles in managing and leading a healthcare business
The importance of crucial conversations
Beginning to take a high-level, value-creation based vision of your work and roles
Achieving Better Outcomes by stepping out of the clinic to affect systemic healthcare improvements

We post videos of certain podcast episodes, including this episode, which can find on the YouTube Channel.

Full episode notes: https://rehabupracticesolutions.com/better-outcomes-137

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!

Full episode notes: https://rehabupracticesolutions.com/better-outcomes-135

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

Are you a clinician considering a nonclinical career path?

I get asked regularly about how I got started on my nonclinical career path. Whether I'm speaking at a conference or event, or working with clients on business development strategy projects, it seems people are interested in learning about how an occupational therapist went from treating patients in the clinic to working as a healthcare positioning strategist.

So, this week, we're continuing our series on nonclinical career paths with this solo episode where I break down every role I've held since graduating in 2012. I walk through each job, what I took from each one, how I made the step into the next role, and things that I thought were key factors in skilling up for these nonclinical roles.

What we cover in this Episode:

-The importance of taking every learning opportunity available to you early in your career
-Looking at every position as an opportunity to grow your network and skills
-Starting a healthcare business with no funding
-Purchasing a healthcare business
-Key principles in managing and leading a healthcare business
-How I used LinkedIn to get my first nonclinical consulting role
-Understanding business models and incentives and how that relates to obtaining nonclinical roles
-Achieving Better Outcomes by stepping out of the clinic to affect systemic healthcare improvements

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!

Want me to help you put together a business development strategy that actually drives conversations with qualified prospects? Click here to schedule a call with me. It’s free. It’s 30 minutes. And, if nothing else, you’ll walk away with some insights that you can apply on your business that day. https://calendly.com/rehabu/discovery

How do you start in healthcare copywriting?

Maybe you've heard of copywriting. Maybe you haven't. I tell people that I work with that copywriting is probably one of the most valuable skills that entrepreneurs and business owners can have. You don't necessarily need to be the best copywriter, but you should understand what makes for good healthcare copywriting. That skill opens up the doors to many opportunities, for business owners or clinicians looking to make a nonclinical transition. And, as I've discussed on the Strata Stories podcast, content creation and copywriting allows clinicians to monetize their expertise in more ways than simply direct clinical care.

So, this week, we're continuing our nonclinical careers series with a conversation with Krista Frahm about her transition from clinician to healthcare copywriter and now marketing strategist.

What we cover in this Episode:

-The value clinicians can bring to nonclinical roles
-How to delivery high impact services as a copywriter or marketing strategist
-Starting a healthcare copywriting business
-Networking to build your business
-Coaching and consulting clients to deliver upstream services
-Achieving Better Outcomes by leaving the clinic to help other businesses succeed with copywriting

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!