To GROW your practice you must deliver high quality patient care and at the same time be able to generate a profit. Being a great practitioner is just not enough. You must be able to pay the bills and yourself to stay in business.- Ed Miersch
Being an effective leader and understanding the keys to management in private practice are not traits you are born with. Or are you? I certainly wasn’t . I had to learn the hard way. from reading management and training books to actually living and working through the issues that have taken place not only in my clinics but in the clinics that i partner in as well.
I see how “owners” avoid confrontation on a daily basis just to keep the status quo.
The tips that your hear in this podcast from Ed Miersch are from 35 years of experience. Years that he and his first business partner started from a small clinic to selling over 40 clinic for 41 million dollars.
The ability to create margins, proper staff training, keeping your finances open with your staff and the monthly staff meetings are the keys that will grow your practice from good to great.
Listen to the entire podcast to find out the secret of how to support a $700,000 staff salary increase while dealing with decreasing insurance reimbursement.
- 2:49 Introducing Sport Med CEO Ed Miersch
- 3:37 From small beginnings to the NBA
- 4:20 $41 Million
- 5:42 35 years of experience
- 10:28 Diamonds in your own backyard
- 11:05 Being an effective listener
- 14:13 Its like Marriage- Some good , Some not so good
- 16:38 Keys to a partnership
- 17:25 High quality patient care + Value = Profit
- 19:44 The next 2 years in private practice