• Is the Business Model of Private Practice Broken?


    Private Medicine Broken Kristin McNealus Every Body Fitness

    What if somebody told you the business model of private practice is broken?

    Well, maybe not broken, but certainly misaligned.

    Misaligned with patient interests. Misaligned with the medical provider interests. And misaligned with everybody’s financial interest.

    You’d probably agree with most—if not all—of that statement.

    But what are you doing to change the game and shift the paradigm?

    Are you making waves and taking steps to breakout from the burdens of your current business model?

    You should be.

    And if you think it’s too hard or too difficult, you’re wrong, because people are already doing it…

    …people like today’s guest, Kristin McNealus, the founder and creator of Every Body Fitness, a company that is committed to helping recovering medical patients take control of their health through consistent exercise routines and alter the common business model of private medicine.

    After starting her career as a traditional physical therapist in beautiful Southern California, Kristin quickly grew tired of and frustrated with the way health insurance companies were handcuffing her practice. That policy makers sitting in lofty boardrooms thousands of miles away, could dictate what she could and couldn’t do for her patients.

    Rather than sit idly by watching the PT private practice Industry, Kristin decide to take action by taking her therapeutic exercises and putting them online where they could be accessed—without having to sidestep roadblocks or jump through hoops—by the people who needed them most.

    Since that fateful day, Kristin has not only gone back to school to secure her MBA from Pepperdine University, she has also launched other business ventures tied to her medical expertise.

    Time Stamped Show Notes:

    • 05:35 – Introducing Kristin McNealus to the show
    • 05:40 – Kristin is the owner of Every Body Fitness
    • 05:46 – Kristin’s LinkedIn post “Time to Change Our Business Model”, caught Dr. Joe’s attention
      • 06:02 – Joe thought Kristin had a different viewpoint than others
    • 06:28 – She believes healthcare professionals need to take a unique angle in how they approach healthcare reform
      • 08:49 – Kristin looked for ways to provide a solution to the problem of being pushed to discharge her inpatients sooner and sooner without the tools for success they needed
      • 09:11 – There is a gap in care between being discharged, getting outpatient therapy, and what proper out-patient therapy looks like
    • 09:33 – Kristin designed an online exercise program focusing on the needs of outpatients
    • 11:20 – How Kristin thought of the end users (patients)
      • 11:23 – Kristin was leading a class in the hospital where she was working
      • 11:37 – Classes were social and people with similar experiences could connect
      • 11:47 – “People with less mobility were enjoying the classes”
      • 12:07 – Transportation became an issue and someone asked if Kristin could put the class online—BOOM an idea was born
    • 14:05 – The challenges Kristin had to face in putting up her online classes
      • 14:09 – “You just don’t know what you don’t know”
    • 16:37 – Dr. Joe talks about legalities and constraints
    • 17:04 – Countless people never try because they assume they’re not allowed to do something
    • 20:37 – “Why do I need to build a brand?”
      • 21:32 – Your value base is higher than the fee
      • 22:26 – Connect brand with reputation
    • 23:04 – “Get comfortable being uncomfortable”
    • 24:06 – Healthcare professionals are uncomfortable charging and billing people
    • 24:28 – Understand your value
    • 25:13 – Kristin’s program isn’t a homerun but a work in progress
    • 25:45 – She changed the direction of her business and felt she was starting over
      • 27:06 – Test the model before creating the entire platform
    • 27:24 – Kristin’s big “ah-ha” moment was going back to school
    • 30:48 – Programs for all people depending on their mobility
    • 35:57 – Kristin has contacted professionals and hospitals for next year
    • 37:06 – There are a lot of players in the orthopedic field which Kristin hasn’t reached out to yet
    • 37:45 – The pricing is very modest
    • 38:26 – Reach out to Kristin by email
    • 38:48 – EB Fitness Online

    3 Key Points:

    1. Health care professionals need to be able to adapt to the ever-changing world of healthcare reform and private medicine.
    2. Be comfortable with what is uncomfortable—push through the unknown difficulties of creating a service.
    3. Do NOT exclude potential customers by narrowing your niche.