This podcast is for informational and educational purposes only and does not constitute financial, investment, legal, or medical advice. The views and opinions expressed by hosts and guests are their own and do not necessarily reflect those of State of MedTech LLC. Nothing discussed on this podcast should be interpreted as a recommendation to buy, sell, or hold any investment or security. Listeners should conduct their own due diligence and consult with a qualified financial advisor, attorney, or other professional before making any financial or investment decisions
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Chapters:
00:00 Introduction and the Lack of Education on Private Practice
03:02 The Five Forces for Analysis in Private Practice
04:09 Dr. Meyers' Experience in Private Practice
05:01 Lessons Learned in Private Practice
06:00 The Importance of Business Mindset in Medicine
09:12 The Changing Landscape of Medicine and the Threat of Substitutes
13:14 The Four P's: Power, Productivity, Professionalism, and Purpose
15:21 The Challenges of Private Practice in Today's Environment
17:08 The Difference Between Practice Management and Practice Entrepreneurship
18:07 Understanding the Customer's Perspective in Healthcare
20:11 The Commoditization of Care and the Importance of Differentiation
22:02 Improving Patient Experience and Engagement
23:26 The Bar Has Been Raised in Healthcare
24:08 The Importance of Marketing and Innovation in Medicine
28:47 The Importance of Internal Financial Controls
30:27 Dealing with Salespeople and Controlling Costs
33:27 Preventing Employee Theft and Cyber Crime
37:38 Understanding Financial Statements and Cashflow
41:21 Lessons Learned from Financial Mistakes
43:19 Tips for Preventing Employee Embezzlement
45:32 The Importance of Cybersecurity and Internal Financial Controls
48:35 Cybersecurity and Protecting Personal Information
50:24 Being Cautious with Investments
51:31 Maximizing Earning Potential
52:01 Training Employees on Cybersecurity
53:15 The Limitations of YouTube Tutorials
56:18 Knowing When to Hire Someone
Unlock your AMA PRA Category 1 CME Credit: https://earnc.me/fgn8qZ\
Dr. Meyer's articlehttps://www.linkedin.com/pulse/10-things-nobody-taught-me-private-practice-arlen-meyers-md-mba/
Sign up for Dr. Meyer's newsletter: https://arlenm.substack.com/
Are you a physician who wants to run an insurance free private practice? Learn more here 👉https://easyorthopedics.com/consulting/
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