Last night, I conducted an amazing one hour interview with David MacDonald Esq, one of the speakers at the upcoming Private Practice Summit on October 14,15,16 in Rutherford, NJ. You can listen to the call recording of the ENTIRE training below.
David has over 18 years of progressive healthcare finance and operations experience in a variety of healthcare settings including private practice, physician groups, academic medical centers, community based hospitals, billing and consulting companies.
Most recently David was the CEO of ProEx Physical Therapy where he helped grow an organization from 2 Clinics to 11 within TWO years and build the infrastructure to do so. David exudes a passion for the physical therapy profession and brings unique breadth and depth to everyone he speaks with, from an “Executive View” while helping to bring solutions to the challenges that private practice owners face on a daily basis.
Prior to that, David spent several years as a healthcare consultant and attorney in the Commonwealth of Massachusetts. He was also Vice President of Finance and CFO and In House Counsel for a healthcare services organization in Southeastern United States that had explosive growth during his tenure, which later sold to a public company. David has extensive experience working in all areas of healthcare finance and operations for physician groups, hospitals and community health centers.
After you listen to the call recording button below, register for the 2011 Private Practice Summit, where David will be one of the featured speakers.
The call last night was filled with amazing content. It was a lifetime of insight from both me and Dave in one training session. In fact, the call lines were completely overloaded, and several attendees were locked out which is why I decided to make the recording of the ENTIRE training available online immediately. Make sure you have a pen and paper handy, because this is a very content rich recording. Keep in mind that the option to DOWNLOAD this call recording is only available to Inner Circle members, but you can still listen to the ENTIRE unedited call recording below.
- The blueprint for a private practice– If you don’t have a roadmap for the future of your practice, this is one segment you don’t want to miss. David and I will explore ways to identify the vision for your practice and create a roadmap on how to get there.
- Infrastructure and goal setting – How to establish the optimal foundation to achieve realistic goals and ways to measure milestones that show you how you are doing on the path to your practice vision.
- Hiring and retaining staff – How to go about hiring the right people, using the right technology, and having the right professionals to keep you focused on your vision. Often times people hire too quickly or too late which creates a cash flow crunch if it is not planned properly,
- Determining Success & Success Metrics – This is crucial. Every private practice owner should understand the business drivers of their company and how to measure them, move them, and motivate them. We will discuss specific drivers of your practice and how to set up basic measurement tools and metrics to ensure you are on the right path and if not, what to do about it.
- Cash Flow and Value Creation – Attention to detail around your practice’s cash flow is essential. We will discuss simple ways to improve your cash flow, measure your cash flow, and plan your cash flow on a weekly basis.
- Sustainability and Transferability – Being a practice owner, you want to set up your business, over time, to run on its own. It needs to be sustainable when you are away, deliveringthe same service to your patients each day. Potential buyers value this quality immensely, and it is why you see often times with an acquisition, a long term management contract because they want to sustain the value of the asset, which often times is just the owner. You need to implement strategies, over time, to separate yourself from the business. If you want to have a practice that someone wants to buy for the right price at the right time, then this segment is crucial for you.
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