PracticeCare

I get it. All you want to do is treat patients. Thing is, you’re also the owner of the practice, and because of that, you must also lead it and manage it. If you don’t, then it will manage itself. Usually, those practices fall off the rails. My guest today is often called in to get practices like that back on the rails, and he’ll make the case that you cannot abdicate management.

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:

• Why so many practitioners abdicate management
• The tell-tale signs to a practice owner that problems due to lack of management are setting in
• The differences between practitioners who make good managers / leaders vs those who do not

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:  [email protected]

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

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

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

If you buy a disability insurance policy, if there’s one piece of advice to take away from this episode it’s this: make sure it’s current. That means much more than making sure the premiums are paid up, and my guest today is going to fill in the blanks for us.

Drew Powers is the Founder of Powers Financial Group, LLC, a Registered Investment Advisor. He specializes in advanced insurance and investment strategies for doctors. Drew is 100% independent, he doesn’t work with any investment or insurance company, which means he’s able to give unbiased advice that is most beneficial for his clients. Drew started his career in 2001 as a Market Maker on the Chicago Board Options Exchange, where he managed trading portfolios comprising of hundreds of equity- and equity-index option listings. In 2008, he transitioned to the role of Financial Advisor and Investment Advisor Representative, where he helped clients develop individual financial strategies. At Powers Financial Group, Drew leverages his stock and options trading expertise with his financial advising experience to help clients increase and protect their wealth. Drew lives in Naperville with his wife and their two children. He is an avid downhill skier, active in youth sports, a proud "Rooster" within the Naperville Jaycees, and is passionate about CrossFit and the Paleo/Primal Lifestyle.

In this episode Carl White and Drew Powers discuss:

• What keeping your disability insurance policy current really means
• The triggers that drive the need to update your disability insurance
• Whether or not everyone needs disability insurance

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 Drew Powers

https://powersfg.com/

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

https://www.facebook.com/PowersFG

https://twitter.com/Powers_FG

https://www.instagram.com/powers_fg/

Connect with Carl White

Website: http://www.marketvisorygroup.com

Email:  [email protected]

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

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

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

Doctors and dentists measure their patients’ health to a great degree. Why not do the same for your own practice? Those metrics are called KPIs, and it’s critical to have a core set of them. With them, you can make sure your practice gets healthy, stays healthy, and gets stronger. My guest today helps practices define and measure KPIs, among other things, and she’ll help us get started in this episode.

Katie Nunn, MBA, CMPE, provides training and coaching for healthcare leaders and their organizations on process improvement, financial optimization, and cultural transformation. Leveraging extensive experience with financial and operational turnarounds, she is a valuable advisor for an organization experiencing rapid expansion or change. With over 20 years' experience in healthcare leadership, her broad areas of expertise include practice assessments, process improvement, financial management, IT implementations, telemedicine, strategic planning, providers on-boarding, and cultural transformation.

In this episode Carl White and Katie Nunn discuss:

• The must-measure KPIs no matter what type of practice you operate
• The essential ingredients to implementing KPIs and using them for the long haul
• The objections Katie hears from clients and how she overcomes them

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 Katie Nunn

https://www.linkedin.com/company/bright-ideas-medical-consulting/

Connect with Carl White

Website: http://www.marketvisorygroup.com

Email:  [email protected]

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

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

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

Usually, the happiest and most successful practice owners have a mission and purpose for their practice, a vision for it’s future, and values that guide the behaviors everyone follows. Mission, vision, purpose, and values take some work, but the work is worth it, and my guest today helps her clients figure them out for their practices.

Lisa Levesque is the principal and Business & Executive Coach at Breakthrough Business Strategies with a focus on healthcare professionals who are technically excellent and need help with the practice of business. Prior to her current business, Lisa held senior level leadership roles at Fidelity Investments and leverages these experiences to help her clients achieve business excellence.

In this episode Carl White and Lisa Levesque discuss:

• What’s in a mission, vision, purpose, and values
• The characteristics of practices that believe in their importance vs. those that do not
• How to get started in determining what these should be for an individual’s practice

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 Lisa Levesque

www.linkedin.com/in/llevesque

Video Resources Lisa Levesque Mentioned in this Episode

• Help with a vision statement: https://www.youtube.com/watch?v=dZShbB59giM
• Help with a mission statement: https://www.youtube.com/watch?v=1xs4I349cdc

Connect with Carl White

Website: http://www.marketvisorygroup.com

Email:  [email protected]

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

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

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

You want to own your own practice. Should you start from scratch or buy someone else’s practice? Each has their pros and cons generally, and each has their pros and cons for you. My guest today helps his clients get to the answer that makes the most sense for them, and he’ll give us a taste for how can do it, too.

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 pros and cons of starting your own practice
• The pros and cons of buying an existing practice
• How to decide what’s best for you if both are good choices

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/

Connect with Carl White

Website: http://www.marketvisorygroup.com

Email:  [email protected]

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

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

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

One of the more pivotal roles in any practice is the practice manager, whose role looks very different everywhere you go. Are you setting up that role for success, both for you and the practice manager? My guest today consults with medical practices. She finds herself working on this question a lot and shares her ideas with us. 

Daniela Woerner is the Founder and CEO of Addo Aesthetics and the host of the Top 14 podcast, Spa Marketing Made Easy. She is an aesthetician who has worked as a spa director as well as consulted with the top skincare brands in the world, and is an expert in marketing strategy and retail sales in the spa industry.

In this episode Carl White and Daniela Woerner discuss:

• Describing a good fit profile for the practice manager role
• Hiring insights to find better fits faster
• What good expectations look like for the practice manager role

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 Daniela Woerner

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

https://www.facebook.com/addoaesthetics

https://www.instagram.com/addoaesthetics/

Get Addo Aesthetics’ Practice Manager Job Posting

https://offers.addoaesthetics.com/spa-manager-job-posting

Connect with Carl White

Website: http://www.marketvisorygroup.com

Email:  [email protected]

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

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

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

Getting new patients is hard! You have to convince a bunch of strangers to choose your practice over your competitors. It’s exhausting! For some, it’s a reason for burnout, but it doesn’t need to be. My guest today helps her clients grow their practices without too much stress, and she tells us how.

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:

• Why a marketing plan is so important, and what separates good from bad marketing plans
• The importance of a great patient experience to keep patients coming back
• How to build a referral machine and make it work to its full potential

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:  [email protected]

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

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

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

If you want to grow your practice, no amount of marketing will do it unless you have a strong team. There are many ways to get them invested in practice growth, and bonuses is one way that many practices overlook. My guest today helps dentists grow their practices, and she often builds a bonus program into the mix.

Kelly Dahmer, CEO of NextLevel Practice, is transforming the way dentists manage their practices by empowering them to decentralize their role and break free from the daily grind. By aligning their teams with a shared vision, dentists can maximize profitability and build a practice that operates seamlessly—without being stuck in the middle. Kelly’s proven strategies pave the way for dentists to achieve true freedom—becoming frustration-free, time-free, and debt-free—while ensuring they can retire comfortably and sustain the lifestyle they’ve worked so hard to create.

With over 6,000 practices guided and more than $1 billion in combined collections generated, Kelly and NextLevel Practice are equipping dentists to master the entrepreneurial side of their practices and build a lasting legacy.

In this episode Carl White and Kelly Dahmer discuss:

• How using bonuses as a tool for growth works
• How bonuses can motivate team members who aren’t financially oriented or even numbers oriented
• What to do if a bonus system is in place but growth goals still aren’t being met
• Misconceptions about bonuses and how to respond to them

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 Kelly Dahmer

FB: facebook.com/NextLevelPractice/

IG: instagram.com/nlpractice/

LinkedIn: linkedin.com/company/nextlevel-practice

X: https://twitter.com/nlpractice

Free Resource Kelly Mentioned In the Episode:

Million Dollar Dentistry ebook: https://nextlevelpractice.com/mdd-ebook-promo/

Connect with Carl White

Website: http://www.marketvisorygroup.com

Email:  [email protected]

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

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

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

An awesome retirement is everyone’s dream. Planning for that awesome retirement? Not so much, at least for some. It’s hard to predict the future, and there’s so much choice available for you. My guest today, a returning guest, helps her clients work through their choices, and she’ll help us get started.

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:

• How much you can contribute to a retirement plan
• Complexity and cost as reasons to choose an option
• The impact of having employees on your retirement plan choice
• The value of a backdoor Roth IRA.

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:  [email protected]

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

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

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

00:00 Introduction to PracticeCare with Carl White

01:25 Guest Introduction: Alexis Galati

02:43 Alexis Galati's Background and Expertise

05:35 Understanding Retirement Plan Contributions

12:53 Popular Retirement Plan Options

21:35 Understanding Pro Rata Rules

22:56 Navigating SEP IRA and 401k Transfers

23:27 Exploring Cash Balance Plans

24:02 Defined Benefit Plans and Contributions

25:55 Managing Cash Balance Plans with Employees

32:10 Mega Backdoor Roth Strategy

34:57 Retirement Planning Strategies

39:14 Final Thoughts and Practical Advice

For some practice owners, saying “I don’t know” is about the most foreign and difficult thing to do. Turns out, it’s a show of strength, not weakness. If you feel it shows weakness, maybe you just need some help on how to say it out loud. My guest today coaches leaders and organizations to create amazing workplace cultures, and he’ll help us learn how to say those horrible words!

Steve Salee is with Wildfire Strategies. Steve founded Wildfire Strategies in 2008 with a vision of creating healthy workplace cultures that catch on like wildfire. Steve and his team build cultures of shared purpose, respect and trust that dramatically improve our clients’ performance. Using team and individual coaching, culture change programs and leadership retreats, they help clients develop the structures, behaviors and tools they need to succeed. Steve is a Professional Certified Coach and Certified Mentor Coach through the International Coach Federation (ICF). Steve is a member of the Forbes Coaches Council, a Fellow with the Institute of Coaching, and an Adjunct Lecturer at the Columbia University School of Social Work. He’s a member of the ICF, American College of Healthcare Executives, National Association of Social Workers, and the National Gay and Lesbian Chamber of Commerce. Steve and his family live in Westchester NY. He sings, rows and writes whenever he gets the chance.

In this episode Carl White and Steve Salee discuss:

• Why it’s harder for leaders in healthcare vs. other industries to say “I don’t know”
• Whether Steve sees this issue becoming bigger or smaller in healthcare
• The ripple effects in a practice when the leaders avoid saying “I don’t know”

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 Steve Salee

https://www.linkedin.com/in/steve-salee-a58560/ https://www.linkedin.com/company/wildfire-strategies/mycompany/?viewAsMember=true https://www.instagram.com/wildfirestrategies/

Connect with Carl White

Website: http://www.marketvisorygroup.com

Email:  [email protected]

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

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

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