Transitioning Your Dental Practice: Lessons from the Trenches Hosted by Eric Miller & Guest, Brad Pierson, DDS
In this episode of the Financial Beast Podcast, host Eric Miller interviews Brad Pierson, an orthodontist who successfully transitioned his practice to a partner. They discuss the importance of having an exit strategy from the beginning and the key factors to consider when bringing on an associate and eventually transitioning to a partner.
Brad shares his experience of finding the right associate, establishing compatibility, and structuring the buy-in process. He emphasizes the significance of having systems in place and a solid team to support the transition.
Brad also highlights the importance of open communication, shared responsibilities, and setting realistic financial goals for both parties. This insightful conversation offers valuable insights for healthcare owners who are considering transitioning their practice.
AI vs. Insurance Giants: How PTs Can Win the Battle with Host, Eric Miller & Guests Daniel Stewart & Greg Martinez
In this episode of the Financial Beast Podcast, Eric Miller interviews Daniel Stewart and Greg Martinez from Athelas, a medical tech company. They discuss the importance of integrating advanced technology, such as artificial intelligence (AI), into the medical field. Stewart and Martinez explain how Athelas uses AI and advanced algorithms to help medical practices increase their revenue and reduce overhead costs.
They highlight the challenges that practice owners face with insurance reimbursements and denials, and how Athelas’ technology can streamline the billing process and improve first-time pass rates for claims. The guests also address the concerns and misconceptions around AI and emphasize the need for practices to adapt and embrace technology to stay competitive in the evolving healthcare landscape.
Life After Selling: Thriving Beyond the Practice with Host, Eric Miller & Guest, Leslie Sirmons, DVM
In this episode of the Financial Beast Podcast, host Eric Miller interviews Dr. Leslie Sirmons, a veterinarian who successfully sold her practice and transitioned into a new phase of her career and life. Dr. Sirmons shares her experience of making the decision to sell, the process of selling to a corporation, and the emotional and mental challenges she faced during and after the transition. She also offers valuable insights into the veterinary industry and the importance of utilizing paraprofessional staff to alleviate the burden on veterinarians.
Dr. Sirmons emphasizes the need for strategic planning and financial preparation when considering selling a practice. She highlights the importance of having a clear vision for life after selling and finding purpose in new activities and hobbies. Dr. Sirmons also discusses the rewards and challenges of being a relief veterinarian and the opportunities for growth and learning in this role.
Join this engaging conversation to gain valuable insights into the process of selling a veterinary practice and discover the possibilities that await after transitioning out of ownership.
Avoid These Costly Expansion Pitfalls! Vet Practice Insights with Host, Eric Miller & Guest, Jason Lenhardt
In this insightful conversation, Eric Miller, a business consultant, interviews Dr. Jason Lenhardt, a veterinarian and co-founder of a successful veterinary practice. They discuss the challenges and rewards of expanding a veterinary practice, sharing personal experiences and valuable insights. Dr. Lenhardt shares how they navigated the process of finding a facility, securing financing, and determining the size of the building. He also discusses the importance of aligning with a veterinary-specific lender and the role of personal financial condition in obtaining a loan. Dr. Lenhardt highlights the need for scalability and the importance of having a strong leadership team to support the growth of the practice. He shares how they overcame challenges in managing the transition from a smaller facility to a larger one, including the loss of some staff members. Dr. Lenhardt also emphasizes the significance of maintaining a healthy work-life balance and the importance of prioritizing personal relationships amidst the demands of practice expansion.
From Solo to Empire: Secrets to Expanding Your Practice with Host, Eric Miller & Guest, Wade Rinehart
In this interview, Eric Miller, also known as the Financial Beast, speaks with Wade Rinehart, owner of First Choice Physical Therapy, about the process of expanding a practice and involving the team in the growth. Wade shares his insights on the importance of transitioning from being a practitioner to an owner and administrator, and how this shift allows for expansion and more financial freedom. He emphasizes the need to involve and compensate the team members to ensure their buy-in and commitment to the expansion process. Wade also discusses the philosophy behind his incentive program, which rewards employees based on the company’s profits, and how transparency in finances and goal-setting has contributed to the success of his practice. This interview offers valuable advice for practice owners looking to expand and create a thriving team environment.
Selling Your Practice? Avoid these Private Equity Pitfalls! with Host, Eric Miller & Guest, Johnny Johnson
In this episode Eric Miller meets with Mike Nula to discuss his journey from solo practitioner to CEO of 13 successful practices and how he skillfully transitioned out and onto a new path. Join us.
Unlock Freedom: Delegate Like a Pro and Win Big with Host, Eric Miller & Guest, Jamey Schrier
In this episode of the Financial Beast podcast, host Eric Miller sits down with Jamey Schrier, to discuss the art of letting go in healthcare practice ownership. Jamey shares his own experience of struggling to delegate and let go of control in his physical therapy practice, and how he eventually realized that his business actually did better when he wasn’t there. They delve into the psychological barriers that prevent owners from delegating and offer practical strategies for overcoming them. Jamey emphasizes the importance of self-awareness, clear communication with staff, and a results-based management system. He also highlights the need for owners to shift their mindset from viewing delegation as an expense to recognizing it as an investment in their own time and the growth of their business. By embracing the art of letting go, owners can reclaim their time, build wealth, and achieve the freedom they desire.
Estate Planning Secrets You Must Know Before it’s too Late with Host, Eric Miller & Guest, Patrick O’Connor
In this episode of the Financial Beast Podcast, host Eric Miller interviews attorney Patrick O’Connor about the importance of estate planning and asset protection. They discuss the different ways to handle your estate, including dying intestate, having a will, creating a trust, and using beneficiary and survivorship designations. They also delve into the significance of having a durable power of attorney and healthcare surrogate in place. Patrick explains the benefits of using life insurance to fund buy-sell agreements and the importance of choosing the right trustee for your estate. He also touches on the potential impact of estate taxes and the role of corporate trustees. This informative discussion highlights the importance of proactive planning to ensure your assets are protected and your wishes are carried out.
New Age Investments with Host, Eric Miller and Guest, Dr. Jake Paredes
A special interview with Jake Paredes who will discuss how he successfully transitioned out of his practice at the age of 31 and his success in modern investments with cryptocurrency and more.
How To Pay Yourself Properly as a Owner
Are you adequately compensating yourself for all the roles you play in your business? How to quantify exactly how much the business should be paying you for all of your responsibilities and risks.