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The Private Medical Practice Academy
I discuss everything you always wanted and absolutely need to know about start, running and growing a private medical practice. I'll also talk about how to leverage your private practice by adding additional providers, satellite offices and ancillary services. And, vertically integrating other medical businesses like adding an ambulatory surgery center, imaging center, physical therapy and more. I will be sharing my 30+ years of experience as a physician and entrepreneur. After being an employed physician, I started and managed my own private medical practice with 11 providers. I added multiple medical businesses: in-house laboratory services, ambulatory surgery center, physical therapy, imaging center, anesthesia practice management company. I developed joint ventures between physicians and hospitals as well as between physicians and complimentary providers. In addition, I have extensive experience in developing and leasing real estate pertaining to medical services. Be sure to sign up for my newsletter and I'll keep you up to date on everything about starting, running and growing your practice and more.https://www.thepracticebuildingmd.com/podcast-optin-email-newsletter-1
Episodes
78 episodes
Understanding Employer's Responsibilities For Employee taxes
Understanding your obligations surrounding employee taxes is crucial for operating a successful business, whether you're an employer or an aspiring entrepreneur. In this episode, we explore the four primary types of employee taxes:...
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9:26
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Stark and Anti-Kickback Primer
The Stark Law prohibits physicians from referring patients to entities in which they have a financial interest to prevent financial incentives from driving medical decision-making. The Anti-Kickback Statute prohibits the exchange of anything of...
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12:00
Business Insurances You're Probably Not Thinking About
Insurance is one of those things you never want to need or use. But, unfortunately, when life happens having insurance can save you. Some types are pretty obvious but there are some you probably haven’t thought yet. That doesn’t mean you don’t ...
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12:15
Understanding Your Exit Strategy Options with Eric Miller
Owning a private medical practice is a journey. Initially, you're focused on how to get the practice up and running. The next phase is how to best run the practice. Over time, you transition to how to grow and leverage the practice. And, at som...
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39:31
More Patients, More Revenue with Zed Williamson
More patients equals more money. Right? Not necessarily.If you want to grow your practice, you're probably thinking how do I get more patients. But is that really the right question to ask?In today's episode, I had the pleasure ...
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43:01
Mistakes Help You Grow Your Practice
You've probably heard me say that medicine is a business. It takes work to run a successful business. There are good days and bad days. And, no matter how hard you try, like all business owners, you'll make mistakes. That's t...
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37:50
Developing Your Practice's 2023 Strategic Plan
In this episode, I'll outline the key steps you need to develop your practice's strategic plan for the new year.The first step: doing a review of the past year. For this you will need a few things:2022 Profit and Loss statem...
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10:21
What I Need To Do Labs In The Office with Dr. Heather Signorelli
You never know when your mother-in-law will turn out to be a valuable asset to your practice. Mine was a lab technologist who had started up and ran multiple medical labs. When we told her that I had decided to start my own practice, on...
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Season 2
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41:20
Nuts and Bolts of Medical Real Estate with Colin Carr
Finding space for your medical practice can seem very intimidating. So when someone asked me for a consultant in the Dallas-Ft. Worth area to help them figure out where to look for space for their new office I realized that I need to addr...
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50:53
Drug and Medical Device Reps Help Leverage Your Practice
Drug and Device reps often drop into medical offices--usually uninvited. And they seem to always to be there at the most inopportune times. Most annoying is when they camp out in the back waiting for you. It's no wonder that many physicians hav...
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Season 2
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56:06
EMPLOYEE VS INDEPENDENT CONTRACTOR: What You need to know
I’m frequently asked about the benefits of hiring employees versus having independent contractors. Many physicians are under the impression that hiring someone as an independent contractor is going to be less expensive than as an e...
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Season 2
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9:09
Top 5 Things My Healthcare CPA Wants You to Know with Jeremy Kilbert, CPA
When I started my medical practice I quickly learned that there's much more to accounting than quickbooks. My CPA firm, with its extensive healthcare experience, has served a phenomenal business advisors. In this episode of The Private Me...
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42:37
Why You Need An ABN
You want to offer a service to a patient but you aren’t sure that Medicare will reimburse you. Is there something you can do to increase the chances of getting paid? The answer is an advanced beneficiary notice of non-coverage (ABN). <...
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11:02
Don't Let Calling Your Office Be A Nightmare with Zed Williamson
We've all heard, "First impressions matter." Calling your office to schedule an appointment is your patient's first interaction with you and your practice. That call defines whether the patient schedules an appointment. And, their attitude towa...
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45:00
Improve Patient Care and Generate Revenue: Remote Monitoring
One of my greatest frustration with practicing medicine is poor patient compliance. You spend time educating the patient and discussing the treatment plan. When you see them back in follow up you discover they haven't followed through. If you a...
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15:49
Understanding Payer Audits With David Vaughn JD, CPC
Are you afraid of getting audited by insurance companies or Medicare? Do you get anxious when one of the payers sends you a request to audit 5 of your charts? Have you heard horror stories of the Feds knocking on a physician's door? Don't...
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Season 2
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35:34
Add Chronic Care Management (CCM) and Principal Care Management (PCM) To Your Practice
In 2015, the Centers for Medicare & Medicaid Services (CMS) introduced Chronic Care Management (known as CCM) with the intent of improving the care of patients with chronic conditions. CCM offers physicians an opportunity to be compen...
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12:40
Demystifying Malpractice Insurance with Jennifer Wiggins, Aegis Malpractice
If you are an employed physician, chances are your employer purchases malpractice insurance for you. Your first introduction to the complexities of malpractice insurance may come when you leave that employer and have to buy a "tail....
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Season 2
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38:54
In Network vs. Out-Of-Network with Guest: John Lin MD
Today I had a great chat with Dr. John Lin about how to think about choosing to be In-Network vs. Out-of-Network. We all know that dealing with health insurance companies can be very frustrating. But reimbursement rates are only a part of what ...
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Season 2
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Episode 8
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37:43
How Medicare's Local Carrier Determinations Affect You
You’re a Medicare provider. And you know that the Centers for Medicare and Medicaid Services (CMS) runs Medicare. But did you know that CMS is just the umbrella organization? The actual administration is done by a Medicare Administrative Contra...
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Season 2
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Episode 7
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11:05
Supplying Your Practice: Should You Join A GPO?
To start with, make a list of supplies that you everything you need: drugs, syringes, gloves, paper for your exam table, cleaning supplies and more. Include how often you are using these supplies because we’ll need this info to figure out...
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Season 2
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Episode 6
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10:59
Tips for Staying on Schedule
Here are some strategies that can help keep you on schedule. Get to clinic before your first scheduled patient. Preferably you get to clinic early. If you show up at 8 am, your first patient is at 8am and then you first need pu...
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Season 2
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Episode 5
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13:25
Strategies for Reducing After Hour Phone Calls
To reduce the volume of after-hour phone calls, you need to have a policy that implements these strategies.Implement strategies that help reduce after-hour call volume without sacrificing patient care. 1. Set up your phon...
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Season 2
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Episode 4
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14:33
Business Associate Agreements
When you run a private medical practice, you’re invariably going to need services and vendors outside of your practice. What you need to know is that any person or organization that you hire to handle, use, distribute, or access protecte...
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Season 2
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Episode 3
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12:00