Mastering Smart Investments: Avoiding Shiny Object Syndrome in Medical Practices

The ProfitRx

Welcome to another episode of The ProfitRx! In today's engaging conversation, Vivek sits down with special guest Josh Fertel to dive deep into the world of smart investments for medical practices.

From avoiding the dreaded shiny object syndrome to maximizing patient care, Josh and Vivek share valuable insights on making savvy financial decisions. They'll explore how to determine when a big purchase is worth the risk and the importance of focusing on patient outcomes. Plus, you'll hear practical advice on scaling your practice, navigating the complex world of billing, and creating a patient experience that sets your practice apart.

Whether you're a healthcare provider or just interested in the intersection of finance and medicine, this episode is packed with actionable tips you won't want to miss. So grab a cup of coffee and join us for an episode filled with knowledge and inspiration to boost your profitability in the medical field!

Timestamps:

00:00 Sales Tactics and Real Needs

06:31 Evaluating Healthcare Service Investment

09:31 Optimize Foundations Before Expanding

11:56 Navigating Insurance Contracts in Healthcare

16:55 Understanding Sales Persuasion Mindset

20:02 Sales Pitch Reality Check

23:50 Evaluating EHR Value and Growth

27:11 Improving Office Atmosphere & Communication

30:24 Patient Experience Key to Growth

32:27 Outsource for Passive Income Boost

36:48 Optimize Labor and Office Space

39:12 Navigating Client Tech Needs

42:10 "Seek External Perspective"

The ProfitRx - Podcast Website - https://theprofitrxshow.com/

Josh Fertel's LinkedIn - https://www.linkedin.com/in/josh-fertel-439815b4/

J3RCM Website - https://www.j3rcm.com/

TopHealth Media - https://tophealth.care/