Thriving Practice with Tracy Cherpeski

The Time Trap: Why Independent Practices Are Disappearing (And the Swell Coming to Save Them), EP 217

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Independent healthcare practices are at a critical crossroads. Based on original research from Tracy Cherpeski International's white paper "Unlocking Potential: A Business Blueprint for Practice Owners," this episode reveals the time crisis threatening independent practice ownership—and the surprising wave of change on the horizon. Tracy shares data showing that practice owners spend up to 35% of their time on administrative tasks, while 80% dream of a future with more strategic freedom. But there's hope: with proven time leadership strategies, practice owners are reclaiming 5-10 hours weekly and building sustainable practices that support both exceptional patient care and quality of life. 

Click here for full show notes 

Is your practice growth-ready? See Where Your Practice Stands: Take our Practice Growth Readiness Assessment 

Episode Highlights 

  • The shocking data on how much time practice owners lose to administrative work weekly 
    • Why physician practice ownership dropped 13 percentage points from 2012-2022 
      • The emerging wave of young and mid-career physicians choosing independent practice ownership 
        • Dr. Noah's story: From drowning in admin work to reclaiming his practice and his life 
          • The "garden sunlight" framework for understanding strategic time allocation 
            • What's at stake if we don't support the next generation of practice owners 
              • Proven strategies that help owners reclaim 5-10 hours per week 

                • Memorable Quotes 

                • "The biggest threat to independent healthcare practices isn't private equity buyouts or declining reimbursements—it's how practice owners are spending their time every single week." 
                  • "Medical school teaches you how to diagnose and treat patients. It doesn't teach you how to build systems, delegate effectively, or think like a CEO." 
                    • "Your time as a practice owner is like sunlight in a garden. If you spread it too thin across every single plant, nothing grows particularly strong." 
                      • "We're at an inflection point. And the question is: will these courageous physician entrepreneurs have the support, resources, and business knowledge they need to succeed?" 
                        • "Independent healthcare practice ownership doesn't have to be a path to burnout. With the right approach, it can be exactly what you envisioned." 

                          • Resources 

                          Download the full white paper: "Unlocking Potential: A Business Blueprint for Practice Owners"  

                          Register for the November 18th Time Leadership Masterclass (Open to everyone!)  

                          Learn more about Thriving Practice Community membership. 

                          Tracy’s Bio: 

                          Tracy Cherpeski, MBA, MA, CPSC (she/her/hers) is the Founder of Tracy Cherpeski International and Thriving Practice Community. As a Business Consultant and Executive Coach, Tracy helps healthcare practice owners scale their businesses without sacrificing wellbeing. Through strategic planning, leadership development, and mindset mastery, she empowers clients to reclaim their time and reach their potential. Based in Chapel Hill, NC, Tracy serves clients worldwide and is the Executive Producer and Host of the Thriving Practice podcast. Her guiding philosophy: Survival is not enough; life is meant to be celebrated. 

                          Connect With Us: 

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                          Tracy’s LinkedIn 

                          Business LinkedIn Page 

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                          Thriving Practice with Tracy CherpeskiBy Tracy Cherpeski
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