The Dave Kittle Show

Ever wondered how joining forces with nearby practices can help maximize your purchase price and create generational wealth? Are you prepared for a journey into the depths of the healthcare practice world on the potential benefits of merging practices? 

Join Dave this week as he welcomes the founder and CEO of Empire Dental Arts, Dr. D. Todd Russell, DDS. Todd is a successful dental partnership organization based in Northeast Ohio. He is an award-winning dentist and executive leader with 30+ years’ experience driving best practices across strategic practice operations and patient care. He is adept at identifying and executing disciplined operational and business strategies across dental facilities management, clinician teams, patient care, and organizational visioning. With unmatched clinical and industry experience, he masters a collaborative leadership approach to surpass provider and patient expectations and drive innovative dentistry healthcare advancements. 

Learn how to and when to evaluate your practice for your eventual exit from ownership with Dr. Todd at https://dentrepreneurllc.com/ or connect with him through his LinkedIn account here or via email at [email protected].

In this episode, they will touch on such topics as:

• Leveraging a Brokerage for Negotiations: The value of having a broker to negotiate on behalf of a group of practices, and how each practice is evaluated independently by a potential buyer.
• Merging with Nearby Practices: The considerations for practice owners when it comes to merging with nearby practices and the different considerations to make when looking for a potential buyer, such as whether they prefer a dump and change approach or a partnership structure. 
• Reimbursement and Emerging Service Models: The potential of reimbursement declining to the point of a safety net for catastrophic care and the current trend of concierge medical and dental services.  
• Maximizing Value on Cash-Based Practices and Owner Transition: The value of having a cash-based practice, the buyer knowing the importance of the practice owner, and the need for the practice owner to stay on for a period of time to get a higher multiple.

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Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

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Ever wondered what goes on behind the scenes in the high-stakes world of healthcare mergers and acquisitions? How would you foster a true partnership between the buyer and the seller? And what makes a practice outshine others?

Join Dave this week as he welcomes Ed Motherway, a seasoned executive with extensive experience in private equity, onto the show. Ed Motherway, a previous C-suite executive, private equity executive, board member, board advisor, and turnaround expert, speaks about his experience with a private equity firm that explored 35 healthcare practices, including primary care, labs, MRIs, and pain management.

Connect with Ed Motherway on LinkedIn: Ed Motherway's LinkedIn Profile

In this episode, they will touch on such topics as:

• Acquisition Insights: Why the private equity firm ultimately acquired 14 of the practices, and why they passed on the others and the experience in acquiring a medical practice from both the buyer and seller perspectives. 
• Navigating Organizational Challenges: The challenges of managing a larger organization, how to handle a change in the management of the practice, and the importance of communicating potential changes to the potential sellers. 
• Communication in Change Management: The importance of understanding the human element in change management, as people fear change and how to be better at identifying what would change and what wouldn't, and how the seller has to be well-equipped in understanding due diligence.  
• Impact of Professional Management: The importance of having a professional management team and how it can have a positive effect on the organization. 
• Problem Solving with Expertise: How to find the right person to come in and fix a problem and how it can sometimes be cheaper to go with a less sure solution.

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Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

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Are you ready and prepared to immerse yourself in the world of marketing and sales specifically tailored to the realm of physical therapy? Are you ready to know the secrets of optimizing your business practices for maximizing purchase price and building generational wealth through the art of strategic marketing and the unique attributes of your physical therapy clinic?

Join Dave this week as he engages in an enriching discussion with the co-founder of Rehab CEO, Joey Albritton. Joey is a Doctorate of Physical therapy at University of Texas Southwestern in Dallas, with experience as a Dental Hygienist for 4 years. For the past 6 years, Joey honed in on marketing and sales exclusively for physical therapy clinics.

Learn more about the Rehab CEO https://rehabceos.com/ or connect with Joey at https://start.rehabceos.com/info 

In this episode, they will touch on such topics as:

• Marketing Strategies for Physical Therapy Clinics: The differences between using Facebook ads and Google ads and the lead conversion rates associated with each. 
• Facebook Ads, Landing Pages, and SEO: The importance of testing different types of landing pages and building backlinks from local websites to enhance SEO, and partnering with Facebook Ads to leverage the traffic to the website. 
• Improving SEO and Obtaining Google Reviews: The importance of on-page SEO and how to optimize your website for good page speed. The value of having good reviews for Google My Business, and how to incentivize staff to ask for reviews.
• Importance of Google Ads and Tracking: The importance of tracking user experience and optimizing for organic ranks. They emphasize the need to pay someone to ensure the ads are running the way clients want and to source specialists for difficult tasks. 
• Considerations and Strategies for Backlinking: The advantages and risks of using backlinks to boost SEO for physical therapy clinics. 
• Link Building Strategies and Elevating Status: The concept of mutually beneficial link building. The idea of creating a partners page with businesses that would also link to your website, as well as the need for an incentive to get other companies to link to yours.

P.S. Subscribe, rate, and review Here

Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

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Have you ever wondered what catapults a healthcare business from good to great? Ready to learn the unique method of recruiting new talent and the innovative strategies that can lead to a comfortable expansion and growth?

Join Dave this week as he engages in an enriching discussion with the co-owner and physical therapist of Total Therapy Florida, Justin Stiver. Justin is a southwest Florida native, has lived in Sarasota County his entire life and is a graduate of Charlotte High School, class of 2002. He went on to play baseball for Florida Gulf Coast University and the University of Florida, and was selected in the 17th round of the 2006 Major League draft by the Houston Astros as a pitcher. After suffering a career-ending elbow injury that required extensive physical therapy, Justin’s passion for the field of physical therapy began. It was then that he decided to make a career out of helping others with their musculoskeletal impairments. He completed his Doctorate in Physical Therapy from The University of St. Augustine in 2015 and is a Certified Strength and Conditioning Specialist (CSCS) and Titleist Performance Institute trained golf rehab specialist. Justin is also a husband to his lovely wife, Kim, and father to their daughter Austyn, and son Rhett. He enjoys fishing, freediving, and boating with his friends and family on the weekends.

Learn more about the Total Therapy Florida at totaltherapyfl.com or connect with Justin via email at [email protected] 

In this episode, they will touch on such topics as:

• Buying Businesses: How Justin and his team maximized their purchase price and built generational wealth by buying a duplex to provide free housing for clinical students 
• Orthopedic Clinic Marketing and Strategy: The marketing strategies to use and reach potential referrals, and how they have tailored their treatments to best meet the needs of their patients.
• Percentage of Patients Preferring Home Therapy: What type of approach physicians present an offer to the patients. 
• Physician Marketing Strategies and Referral Building: The difficulty and hindrance of trying to market to physicians that are deeply rooted in larger organizations and how to deal with this in a unique approach of marketing. 

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Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

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Have you ever asked yourself how expanding and acquiring clinics might be more attainable than you thought? How would you better understand the numbers and variables at play, including the ever-changing multiples depending on the size of the business and the critical aspect of finance when contemplating the buying or selling of a business?

Join Dave this week as he engages in an enriching discussion with Colin McNulty, an SBA lender from First Savings Bank. In this episode, Dave and Colin impart valuable insights on expanding and acquiring clinics and discuss critical components to consider when selling a business. They also discuss the importance of setting realistic expectations for price and terms, and the necessity of examining net operating income, adjusted EBITDA, and debt service coverage ratio.

Colin McNulty’s career in the banking industry started in 2005. In 2012, he found his passion for SBA lending and has been helping small businesses unlock their full potential. After working for several community banks, Colin started working at The PrivateBank/CIBC for 10 years. Colin has worked as a commercial and SBA producer for most of his career, which gave him the knowledge and experience to focus on customer service and provide each client with a broad range of options to meet their needs. 

Connect with Colin McNulty via email at [email protected] 

In this episode, they will touch on such topics as:

• Financing and Acquisition of Medical Practices: Ways to expand and acquire other clinics, as well as components to consider when looking to sell to a group like Fieldmaker or someone else. Realistic expectations when asking for a price and terms. 
• Changes to SBA Policies for Acquiring Businesses: How changes to SBA policies make it easier for buyers to acquire companies by allowing sellers to carry over their equity or a percentage of equity.   
• Bank Loans and Risk Mitigation: The importance of understanding the risk tolerance of the buyer, and how banks view add backs. They also emphasize the importance of being honest and upfront about the way money is made in this process.
• Finance for Physical Therapy Acquisitions: Understanding the risk tolerance of the buyer, the concept of net operating income and adjusted EBITDA, and how the size of the business affects the multiple paid for performance. 
• Financing and Ownership Considerations for Acquisitions: The seller's expectations when it comes to asking prices and terms, as well as the 10% equity threshold for stock sales.

P.S. Subscribe, rate, and review Here

Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

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Picture this: you're a healthcare professional who has devoted countless hours mastering the clinical aspect of your practice, but are you investing enough time in understanding the real estate aspect of your profession? Ready to understand the dynamics of healthcare real estate and learn how to make smart real estate decisions for your healthcare practice?

Join Dave this week as he engages in an enriching discussion with the founder and CEO of Carr, Colin Carr. Carr invests his time and expertise into the professional lives of his staff and agents, systems and processes, and ultimately the thousands of healthcare providers that CARR has the privilege to represent annually. Colin has been involved in commercial real estate since 2000 and has personally completed over 1,000 transactions. Colin trains and advises thousands of healthcare professionals, administrators, investors and students throughout the country on an annual basis through national meetings, conventions, study clubs, associations, universities, webinars and more.

CARR’s mission is to help healthcare providers Maximize Your Profitability Through Real Estate®. Learn more about Colin Carr at https://carr.us/ 

In this episode, they will touch on such topics as:

• Maximizing Healthcare Business Purchases: The strategies and tactics healthcare providers can use to maximize their purchase price and build generational wealth.  
• Using a Commercial Real Estate Agent: The importance of time, avoiding costly pitfalls, and having a peace of mind when making real estate decisions with the help of a real estate agent. 
• Specialists in Commercial Real Estate Leases: The benefits of Carr's services, and the difference between a competitive lease agreement and a good lease agreement. 
• Key Concepts in Commercial Lease Negotiations: The concepts such as lease rates, vacancy rates, annual increases, build-out allowances, and exclusive clauses. How to make sure you're getting the best deal possible when it comes to the economic and business aspects of the agreement, and how to avoid costly pitfalls along the way.
• Commissions in Real Estate Transactions: The details of commercial real estate commissions. 

P.S. Subscribe, rate, and review Here

Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

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Imagine if AI could revolutionize the way you run your physical therapy practice, will it help you as a practitioner? How would you take the world of AI, specifically ChatGPT, and use it as a game changer for your practice - from creating unique blog content to enhancing clinical documentation and patient care? 

Join Dave this week as he brings back Anthony Maritato with enriching discussion. Anthony is a licensed physical therapist with a specialization in aiding recovery post-total knee replacement surgery. As the proud owner of Total Therapy Solutions, his mission is to offer unparalleled care, focusing on tailored treatment plans that empower our patients to reclaim their strength and mobility.

Check out our YouTube Channel for video reference: https://youtu.be/vJaBARU15S0?si=14yLkEsMUmVh2Zwp

In this episode, they will touch on such topics as:

• Using ChatGPT to Create Unique Content: The keyword research and methodology for using ChatGPT to create unique blog articles with references and citations.
• Websites Powering Business Growth: How the enterprise value of a website can be increased through monetization, such as ads or affiliate income, and how this can be beneficial when it comes to selling the website.
• AI in Clinical Documentation and Therapy: The potential applications of artificial intelligence (AI) in clinical documentation and patient care.

P.S. Subscribe, rate, and review Here

Learn more about Anthony and his businesses at the links below:

• Choose PT 1st Website: https://www.choosept1st.com 
• Choose PT 1st Blog: https://www.choosept1st.com/blog/7-ways-to-maximize-the-sale-value-of-your-physical-therapy-business
• Learn Medicare Billing Website: https://www.learnmedicarebilling.com 
• Learn Medicare Billing YouTube channel: https://www.youtube.com/c/MedicareBilling 
• “Medicare Home Therapy” website directory: https://www.medicarehometherapy.com 
• Connect with Tony Maritato on Facebook at: https://www.facebook.com/anthony.maritato.73

Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

Hosted on Acast. See acast.com/privacy for more information.

Have you ever wondered why an astounding 70% of American employees feel disengaged at work? Are you ready to uncover the significance of aligning an employee's values with the employer's, and amplify the success of hiring and retaining employees? 

Join Dave this week as he brings back Sturdy McKee with enriching discussion. Sturdy is the Senior Coach and Advisor for Sturdy Coaching. He provides business coaching for healthcare private practice and other business owners with between 2 and 200 employees. His coaching clients become the coach on the sideline of their business rather than the hardest working player on their field. As a business coach and instructor, he brings the practical knowledge of owning, operating and growing businesses, combined with extensive training and learning, to clients who want to improve their business operations and achieve their personal and business goals.

Connect with Sturdy McKee and learn more about PT Match: https://www.ptmatch.io/ and https://sturdycoaching.com/

In this episode, they will touch on such topics as:

• Recruiting and Hiring Challenges in Business: The challenges business owners are facing with recruiting and hiring key talent in relation to employee engagement, the tools Gallup has put out, and the need to build the right relationship with employees.
• Improving Candidate Fit and Job Satisfaction: The importance of aligning a potential employee's values with those of the employer, as well as the process of screening and interviewing candidates.
• Startup Recruitment and Hiring Strategies: The differences between passive and active approaches to finding the right talent and the benefits of using a matchmaker-style model to find the right fit.  
• Tips for Effective Hiring and Recruitment
• Finding the Right PT Candidates: The importance of finding the right fit, even if it means considering different locations and job roles. The advice on how to get creative when recruiting and hiring potential candidates.

P.S. Subscribe, rate, and review Here

Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

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Ever dreamt of maximizing your purchase price and building generational wealth? Attrition is a pain that every business owner understands too well. The question is, can equity allocation help retain key individuals who are considering setting up their own ventures? 

Join Dave this week as he engages in an enriching discussion with Andrew Longcore. Andrew is managing partner of the Business Law Group, who brings an unparalleled perspective on earning equity by providing services for business ownership - the Cecil Sterling & Company.

Connect with Andrew Longcore and learn more about Cecil Sterling & Company at https://www.cecilsterling.com/ or connect with him via email: [email protected]  

In this episode, they will touch on such topics as:

• Earning Equity in Business Expansion: How practice owners can maximize their purchase price and build generational wealth by earning equity.
• Considering Equity in Business Partnerships: The pros and cons of giving away equity to retain these key individuals and the benefits of having them become a partner. The importance of both parties going through a vetting process to make sure they have the same vision and expectations. 
• Equity and Partnership Agreement Discussions: The importance of having documents in place that cover buy-sell provisions and how to value the equity when the time comes to buy it back. 
• Negotiating Equity in a Business Transaction: How to create win-win scenarios in negotiating the term and condition in a business transaction. 
• Succession plans and exit strategies

P.S. Subscribe, rate, and review Here

Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

Hosted on Acast. See acast.com/privacy for more information.

Are you curious about securing business loans and leveraging your business growth through financing your healthcare practice? Are you ready to navigate the labyrinth of loans and finance while maintaining a comfortable cash cushion for overhead and payroll — an important aspect not just for startups but also for your established practices? 

Join Dave this week as he engages in an enriching discussion with Jerry Freedman. Jerry utilizes his expertise in business accounting and lending to assist many companies in their pursuit of obtaining traditional financing. His goal is to create a seamless financing process that allows his clients to be able to continue to focus on the day-to-day of their business. He has an extensive background in accounting and auditing companies on behalf of bank lenders. Because of this, he understands and knows what lenders are looking for, and structures deals accordingly.

Connect with Jerry and learn more about Freedom Business Financing at https://freedombm.com/ or via email at: [email protected] 

In this episode, they will touch on such topics as:

• SBA Financing for Healthcare Acquisitions: SBA 7(a) financing for startup practices and healthcare acquisitions and discusses the significant aspects of procuring working capital lines of credit for healthcare practitioners. 
• Understanding SBA Loans and Financing (especially for start-ups): The blueprint for dealing with lenders, the underwriting process, and the potential hiccups you may face along the way. Understand how lenders turn a profit by offloading their loans into the secondary market.  
• SBA Financing and Acquisitions: How the lender was able to get one of his clients a working capital at closing and how the terms of the loan were prime plus 1.75. 

P.S. Subscribe, rate, and review Here

Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

Hosted on Acast. See acast.com/privacy for more information.