If you take insurance, then you know about Revenue Cycle Management (RCM). The industry keeps evolving. You can bring your RCM in house, outsource it, or mix and match them. Not sure what to choose? Thinking so changing what you’re doing now? My guest today will break each option down for us to help you out.

Vinod (Vinny) brings over 15 years of experience in operations, financial analysis, strategy, growth, corporate development, strategic planning, and marketing. At Medical Billing Wholesalers, he is involved in applying his experience to optimize revenue cycle process flows to improve our clients' profitability and performance.

In this episode Carl White and Vinny Sankaran discuss:

• In house, outsourcing, and hybrid options to do your RCM
• Similarities and differences between them
• Which ones are better fits than others depending on a practice’s description

Want to be a guest on PracticeCare®?

Have an experience with a business issue you think others will benefit from? Come on PracticeCare® and tell the world! Here’s the link where you can get the process started.

Connect with Vinny Sankaran

https://www.linkedin.com/in/vinodsankaran/

Connect with Carl White

Website: http://www.marketvisorygroup.com

Email: whitec@marketvisorygroup.com

Facebook: https://www.facebook.com/marketvisorygroup

YouTube: https://www.youtube.com/channel/UCD9BLCu_i2ezBj1ktUHVmig

LinkedIn: http://www.linkedin.com/in/healthcaremktg

Why do some doctors get paid more for the same treatment than others? Even in the same city? Chances are the doctors who get paid more have a solid payer strategy. What does it take? My guest today helps his clients develop a solid payer strategy, and he’ll tell us all about it.

Adam Middleton has committed his entire professional career to healthcare, working at for profit and not for profit hospitals and as a consultant to physicians and healthcare related businesses. Since 2008, Adam has consulted with emerging businesses in leadership positions, physician practices, post-acute providers and hospitals with focus on management, operations, finance and strategic planning. He has extensive experience in physician compensation including contracting and structures. Through his leadership Healthcare Advisory Network assists hospitals and practices determine fair market compensation and compliance issues that surround employment practices.

In this episode Carl White and Adam Middleton discuss:

• The main areas of concern for a practice when it comes to payer contracts
• What payers are looking for from practices
• How to tell what payers are willing to negotiate
• How to find your payment rates compared to your market

Want to be a guest on PracticeCare®?

Have an experience with a business issue you think others will benefit from? Come on PracticeCare® and tell the world! Here’s the link where you can get the process started.

Connect with Adam Middleton

www.linkedin.com/in/adammiddletonhanchbc

Connect with Carl White

Website: http://www.marketvisorygroup.com

Email: whitec@marketvisorygroup.com

Facebook: https://www.facebook.com/marketvisorygroup

YouTube: https://www.youtube.com/channel/UCD9BLCu_i2ezBj1ktUHVmig

LinkedIn: http://www.linkedin.com/in/healthcaremktg

Looking for a way to reduce your taxes? Have a second property like a vacation home? The short term rental loophole can help you deploy your vacation home to reduce your taxes? How does it work? What are the requirements? My guest today runs an accounting firm that helps their medical clients get efficient on taxes, including using the short term rental loophole when it applies. She’ll explain all of this to us.

Alexis E. Gallati is the founder and Lead Tax Strategist at Cerebral Tax Advisors and Cerebral Wealth Academy, and she’s the author of the book Advanced Tax Planning for Medical Professionals. She has over 20 years of experience in high-level strategic tax planning and multi-state tax preparation, and she has trained at the highest level, holding two master’s degrees. Alexis grew up in a family of physicians and is married to a private practice physician. That’s why she understands how hard medical professionals work to get where they are and why she provides simple and accessible tax solutions tailored to busy physicians.

In this episode Carl White and Alexis Gallati discuss:

• What the passive income rules are
• The benefits of using this loophole
• The requirements to qualify

Want to be a guest on PracticeCare?

Have an experience with a business issue you think others will benefit from? Come on PracticeCare and tell the world! Here’s the link where you can get the process started.

Connect with Alexis Gallati

Resources from Cerebral Tax Advisors: https://www.cerebraltaxadvisors.com/practicecare/

Cerebral Tax Advisors Facebook: https://www.facebook.com/cerebraltax

Cerebral Wealth Academy Facebook: https://www.facebook.com/cerebralwealthacademy YouTube: https://www.youtube.com/@cerebralwealthacademy

Personal LinkedIn: https://www.linkedin.com/in/alexis-gallati/

Connect with Carl White

Website: http://www.marketvisorygroup.com

Email: whitec@marketvisorygroup.com

Facebook: https://www.facebook.com/marketvisorygroup

YouTube: https://www.youtube.com/channel/UCD9BLCu_i2ezBj1ktUHVmig

LinkedIn: http://www.linkedin.com/in/healthcaremktg

Incentives in compensation, used appropriately and ethically, are effective tools to help you grow your practice. You need to think them through. What sounds good on paper might not be in practice. My guest today consults with practices to help them grow. She often recommends incentives in compensation, and she’ll talk us through how to use them effectively.

Lisa Levesque is the principal and Business & Executive Coach at Breakthrough Business Strategies with a focus on healthcare professionals who are technically excellent and need help with the practice of business. Prior to her current business, Lisa held senior level leadership roles at Fidelity Investments and leverages these experiences to help her clients achieve business excellence.

In this episode Carl White and Lisa Levesque discuss:

• Examples of incentives in compensation for medical and dental practices
• Tailoring incentives for producers vs. staff
• Keeping incentives ethical, for example, not pushing treatments or products.

Want to be a guest on PracticeCare®?

Have an experience with a business issue you think others will benefit from? Come on PracticeCare® and tell the world! Here’s the link where you can get the process started.

Connect with Lisa Levesque

www.linkedin.com/in/llevesque

Video Resources Lisa Levesque Mentioned in this Episode

• Help with a vision statement: https://www.youtube.com/watch?v=dZShbB59giM
• Help with a mission statement: https://www.youtube.com/watch?v=1xs4I349cdc

Connect with Carl White

Website: http://www.marketvisorygroup.com

Email: whitec@marketvisorygroup.com

Facebook: https://www.facebook.com/marketvisorygroup

YouTube: https://www.youtube.com/channel/UCD9BLCu_i2ezBj1ktUHVmig

LinkedIn:

http://www.linkedin.com/in/healthcaremktg

Cash is king, which means your cash flow needs to be working well. You can be strategic about cash flow, or you can be willy-nilly about it. We recommend the former, and today’s guest agrees. He helps his clients with their accounting, practice management, and cash flow needs, and he’ll help us understand how to make your cash flow strategies effective.

Joe Lessard is a partner at Professional Business Management, a healthcare practice management and accounting firm in the northwest Chicago suburbs. Joe has been with PBM since 2009 and a Principal since 2020. He has attained designations as a Certified Public Accountant (CPA), Health Practice Advisor (HPA), and as a Certified Healthcare Business Consultant (CHBC). He believes in rolling up his sleeves and is usually on site visiting his clients’ operations first-hand. Joe is responsible for all accounting and payroll services as well as personal and business tax returns for his clients. He helps them review operations and day-to-day aspects such as HR, employee benefits, retirement plans, collections, billing, and patient interactions. Every client has different needs and that’s why Joe’s commitment to his clients’ needs and his customer service is what he prides himself on.

In this episode Carl White and Joe Lessard discuss

• Common mistakes Joe sees practices make
• Good strategies to make cash flow more effectives, like patient collections, scheduling appointments, payment options, etc

Want to be a guest on PracticeCare®?

Have an experience with a business issue you think others will benefit from? Come on PracticeCare® and tell the world! Here’s the link where you can get the process started.

Connect with Joe Lessard

https://www.linkedin.com/in/joelessardpbm/

https://www.instagram.com/thedoctorscpa/

For more depth on this episode, read Understanding and Managing Overhead Costs in Your Practice, a blog this guest wrote about it.

Connect with Carl White

Website: http://www.marketvisorygroup.com

Email: whitec@marketvisorygroup.com

Facebook: https://www.facebook.com/marketvisorygroup

YouTube: https://www.youtube.com/channel/UCD9BLCu_i2ezBj1ktUHVmig

LinkedIn: http://www.linkedin.com/in/healthcaremktg

As a private practice owner you cannot rely only on great clinical care to attract new patients and keep them over time. You’re supposed to be great and there’s plenty of competitors to you. How do you differentiate? One way is to offer great customer service, but unfortunately a lot of practices don’t take it seriously. My guest today consults with dental practice owners, and he helps them take it seriously.

Since 2003, Jake Goates has given group seminars and training on sales and marketing. He is a Key Opinion Leader for various dental marketing companies. Since 2013, Jake has personally consulted more than 5,600 dentists nationwide on their marketing strategies and sales skills to reduce unnecessary spend while increasing collections. Jake founded GOAT Dental Marketing Consultants in early 2023, providing marketing strategy and sales coaching for dental offices across the country. Jake, with his wife and two daughters, enjoy living and playing in the mountains of Northern Utah.

In this episode Carl White and Jake Goates discuss:

• What’s included in customer service and what’s not
• Why medical and dental practices are late to the game in prioritizing customer service
• Examples of the best customer service he’s seen in dental practices

Want to be a guest on PracticeCare®?

Have an experience with a business issue you think others will benefit from? Come on PracticeCare® and tell the world! Here’s the link where you can get the process started.

Connect with Jake Goates

https://www.linkedin.com/in/jake-goates-a8908a12/ https://www.facebook.com/profile.php?id=61553719583016

www.goatcmo.com

Connect with Carl White

Website: http://www.marketvisorygroup.com

Email: whitec@marketvisorygroup.com

Facebook: https://www.facebook.com/marketvisorygroup

YouTube: https://www.youtube.com/channel/UCD9BLCu_i2ezBj1ktUHVmig

LinkedIn: http://www.linkedin.com/in/healthcaremktg

Retirement planning as a practice owner has more moving parts than it does as an employee. As an owner, you have personal income and business income, and frankly, more choices. More choice can be good as long as they choices make sense, and my guest today helps her clients sift through their choices to build a sensible retirement plan for them.

Alexis E. Gallati is the founder and Lead Tax Strategist at Cerebral Tax Advisors and Cerebral Wealth Academy, and she’s the author of the book Advanced Tax Planning for Medical Professionals. She has over 20 years of experience in high-level strategic tax planning and multi-state tax preparation, and she has trained at the highest level, holding two master’s degrees. Alexis grew up in a family of physicians and is married to a private practice physician. That’s why she understands how hard medical professionals work to get where they are and why she provides simple and accessible tax solutions tailored to busy physicians.

In this episode Carl White and Alexis Gallati discuss:

• The choices that a practice owner has for retirement planning
• The advantages an owner has compared to an employee
• How to think about a strategy for retirement planning, especially when you have a longer time horizon

Want to be a guest on PracticeCare?

Have an experience with a business issue you think others will benefit from? Come on PracticeCare and tell the world! Here’s the link where you can get the process started.

Connect with Alexis Gallati

Resources from Cerebral Tax Advisors: https://www.cerebraltaxadvisors.com/practicecare/

Cerebral Tax Advisors Facebook: https://www.facebook.com/cerebraltax

Cerebral Wealth Academy Facebook: https://www.facebook.com/cerebralwealthacademy YouTube: https://www.youtube.com/@cerebralwealthacademy

Personal LinkedIn: https://www.linkedin.com/in/alexis-gallati/

Connect with Carl White

Website: http://www.marketvisorygroup.com

Email: whitec@marketvisorygroup.com

Facebook: https://www.facebook.com/marketvisorygroup

YouTube: https://www.youtube.com/channel/UCD9BLCu_i2ezBj1ktUHVmig

LinkedIn: http://www.linkedin.com/in/healthcaremktg

The federal tax code is almost 7,000 pages, not to mention your own state’s tax code. Buried in those pages are some obvious ways to save on taxes, and some not so obvious ways. My guest today works with individuals and business owners to find those non-obvious ways, and he’ll give us a few examples on this episode.

Drew Powers is the Founder of Powers Financial Group, LLC, a Registered Investment Advisor. He specializes in advanced insurance and investment strategies for doctors. Drew is 100% independent, he doesn’t work for any investment or insurance company, which means he’s able to give unbiased advice that is most beneficial for his clients. At Powers Financial Group, Drew leverages his stock and options trading expertise with his financial advising experience to help clients increase and protect their wealth. Drew lives in Naperville with his wife and their two children. He is an avid downhill skier, and very sad that the ski season is over!

In this episode Carl White and Drew Powers discuss:

• Some examples of non-obvious ways to save on taxes for individuals
• Some examples for practice owners
• Some non-obvious ways to watch out for
• The team Drew recommends you have in order to find tax savings strategies

Want to be a guest on PracticeCare?

Have an experience with a business issue you think others will benefit from? Come on PracticeCare and tell the world! Here’s the link where you can get the process started.

Connect with Drew Powers

https://powersfg.com/

https://www.linkedin.com/in/powersdrew/

https://www.facebook.com/PowersFG

https://twitter.com/Powers_FG

https://www.instagram.com/powers_fg/

Connect with Carl White

Website: http://www.marketvisorygroup.com

Email: whitec@marketvisorygroup.com

Facebook: https://www.facebook.com/marketvisorygroup

YouTube: https://www.youtube.com/channel/UCD9BLCu_i2ezBj1ktUHVmig

LinkedIn: http://www.linkedin.com/in/healthcaremktg