The Practice Profit System

By: Matthew Gillogly
  • Summary

  • Do you own a medical practice or looking to start your own practice? Want to give your venture the best opportunity to succeed? Listen to the Practice Profit System podcast. Your host Matthew Gillogly, started his first practice in 2014 and within 18 months had 3 locations doing well over 6.5 million a year. Today he works with medical practice owners to start or scale an existing practice to over $200,000 per month.
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Episodes
  • From Insurance To Cash: A Podiatrist’s Guide To Better Patient Care
    Nov 23 2024

    Have you ever wondered why some doctors are stepping away from insurance? Why are more physicians becoming cash-only practitioners? And how does a podiatrist manage to leave insurance "cold turkey"? These questions are at the heart of Dr. Stephen Barrett's compelling story, as he shares his journey to becoming one of the doctors that don’t need insurance and adopting a cash-only no insurance doctors model.

    In this podcast, we explore Dr. Barrett’s candid reflections on the challenges he faced as an insurance-dependent provider and the tipping point that drove him to make a dramatic change. For over 30 years, Dr. Barrett witnessed the evolving complexities of dealing with doctors and insurance companies, from overwhelming paperwork to diminishing reimbursements. His frustration with the system grew, ultimately leading to a pivotal moment: either continue enduring the "slow drip torture" of insurance or pursue a new path to practice medicine the way he believed it should be delivered. His experience underscores why the question, "Why do some doctors not take insurance?", is increasingly relevant in today’s healthcare landscape.

    Dr. Barrett’s shift away from insurance was not without challenges, but it allowed him to focus on direct patient care without the restrictions imposed by insurance companies. This transition not only restored his passion for medicine but also opened up possibilities for innovative treatments, particularly for patients suffering from diabetic neuropathy and chronic pain conditions. By becoming one of the cash-only-no doctors no insurance, Dr. Barrett could offer a patient-centric model that prioritizes outcomes over bureaucracy. He shares how patients responded, how his business adjusted to the shift, and why many found value in paying directly for specialized care. His journey is a clear example of why more physicians are asking themselves, "Why do some doctors not take insurance?"

    As you read further, you’ll gain insight into how this model works and the benefits it offers. Dr. Barrett explains the importance of transparency in pricing and how his practice avoided the pitfalls of concierge or membership-based models often used by doctors who don’t take insurance. He outlines how the cash-only approach is not just about finances but about creating a more meaningful connection with patients, free from the complications of third-party payers. If you've ever thought, “I hate health insurance” or wondered, “Can you see a primary doctor without insurance?,” this discussion provides valuable perspectives.

    This story offers a glimpse into the realities of leaving the traditional insurance model and the transformative impact it can have on both doctors and patients. To explore more stories like this, dive into our other content and subscribe for updates. Dr. Barrett’s journey reminds us that healthcare doesn't have to follow a one-size-fits-all approach—there’s always another way forward.

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    41 mins
  • 3 Key Takeaways From Election For Your Practice
    Nov 16 2024

    What can today’s election marketing strategies teach us about growing a business? Are there insights from high-stakes campaign tactics that we can apply to boost our practice? And what are three crucial election marketing lessons that can elevate your business strategy right now? In this episode of The Practice Profit System, I get into these questions, exploring the idea that “Nothing can kill a bad company faster than a great advertising campaign” and why this principle was a pivotal factor in the recent election campaigns. Join me as we explore how election marketing lessons, drawn from the highs and lows of campaign strategies, can provide practical insights for your marketing and growth.

    A key theme we discuss is how spending does not equal success—a lesson made clear when comparing ad spend across the recent campaigns. For example, the Harris-Walz campaign invested over a billion dollars in advertising, while the Trump campaign spent closer to half that amount. Yet, the differences in message clarity and audience targeting were striking. This comparison highlights how understanding your market and crafting clear, targeted messaging can be more impactful than simply increasing your ad budget. Effective marketing is about creating earned media and establishing credibility without relying solely on massive ad spends. In this episode, I break down three election marketing lessons that can help transform your approach: the importance of message clarity, the value of targeted messaging, and the role of earned media as a tool to reach audiences authentically.

    The clarity of a campaign's message can determine its effectiveness, as seen in how well—or poorly—candidates communicated their positions. For instance, data indicates that voters felt Trump understood their concerns more than Harris. This sense of connection emerged from Trump’s use of relatable messaging, emphasizing voter concerns over economic hardships, whereas Harris’s campaign often highlighted different priorities. This episode demonstrates why crafting messaging that resonates with your target audience is one of the best strategies to engage potential clients. By aligning your message with what matters most to your audience, you not only engage them more effectively but also increase their likelihood of seeing your practice as a solution to their problems. We’ll explore how election campaigns reveal the importance of a sharp message and offer for connecting with clients and growing your business.

    Another powerful election marketing lesson is how earned media plays a pivotal role in today’s marketing landscape. Earned media, whether it’s word of mouth, podcasts, or social media, enables you to build brand awareness organically. The Trump campaign made effective use of earned media, capitalizing on alternative media outlets to reach more diverse audiences. In contrast, Harris’s campaign relied heavily on paid advertising, such as large ads in Vegas, which lacked a targeted approach. We’ll explore why generating earned media through content like podcasts, interviews, and video shorts can be a highly effective way to build trust and credibility for your practice. Just as the election highlighted how earned media can influence public opinion, this approach can be a game-changer in attracting clients without overextending your marketing budget.

    Ultimately, this episode underscores the practical applications of election marketing for any business owner. Spending millions on ads won’t guarantee success if the message doesn’t resonate, and targeting the right audience is crucial. For practice owners, understanding the needs of your market, crafting relevant messaging, and utilizing earned media can foster better client relationships and help your business grow steadily. The strategies drawn from these campaign lessons emphasize aligning your message with what’s important to clients and staying flexible to adapt to their needs.

    Tune in as I break down each of these election marketing lessons in detail. If you’re looking for more strategies on applying these insights to your business, don’t miss our upcoming one-day event in Phoenix, where we’ll dive deeper into these concepts and help craft a personalized plan for your practice. Be sure to listen, and don’t forget to explore more of our content to find more actionable strategies for your business growth.

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    14 mins
  • Why Poor Nutrition Could Hurt Your Results | Dr. Jazayeri’s Insights
    Nov 10 2024

    What role does nutrition play in patient outcomes, and why does it matter according to Dr. Reza Jazayeri? How can proper nutrition make a difference in surgical recovery, and what does science reveal about the links between nutrition and surgery? This podcast dives into Dr. Jazayeri’s insights on Nutrition In Surgery, discussing the often-overlooked impact that nutritional status has on healing, tissue repair, and surgical outcomes. Through his experience as an orthopedic surgeon specializing in revision surgeries, Dr. Jazayeri explores why preparing a patient’s body with perioperative nutrition can help improve recovery rates and reduce complications. This discussion sheds light on the science behind nutrition and its essential role in the body’s ability to heal, specifically around surgery.

    Dr. Jazayeri shares findings on how nutrition prior to surgery can benefit patients of all ages, even those without pre-existing nutritional deficits. He explains that many patients arrive for surgery without the proper pre-surgery nutrition, which may impact their ability to cope with the physical demands of recovery. As Dr. Jazayeri points out, even patients who consider themselves healthy can experience improved outcomes by focusing on nutrition for surgery, highlighting that foods that promote wound healing and targeted nutritional support can significantly impact both minor procedures and major surgeries.

    One key topic Dr. Jazayeri covers is the concept of a nutritional assessment before surgery, which helps identify deficiencies that might hinder healing. He explains how essential nutrients, particularly amino acids, support immune functions and act as building blocks for tissue recovery, while certain tissue healing foods can help the body transition from the high-stress catabolic phase into the anabolic phase of healing more efficiently. His approach emphasizes the importance of customizing nutrition before surgery to help patients optimize recovery times, reduce risks of infection, and support the physical stress that surgery places on the body.

    For individuals preparing for surgery, this blog also explores the practicalities of perioperative nutrition, which focuses on sustaining energy levels and minimizing muscle breakdown. Dr. Jazayeri likens surgical preparation to athletic training, explaining that just as athletes consume specific nutrients to maximize performance, patients benefit from a similar approach. The goal is to support the body’s metabolic needs, particularly as it enters recovery. According to Dr. Jazayeri, a well-rounded nutrition after surgery plan not only includes high-quality protein for muscle repair but also foods that heal and encourage wound healing. By carefully choosing foods that heal and ensuring the body has sufficient amino acids, Dr. Jazayeri demonstrates how nutrition interventions contribute to better recovery.

    The blog touches on Dr. Jazayeri’s approach to recovery nutrition, underscoring his stance on the potential of strategic supplementation. By examining the role of specific amino acids in muscle preservation and collagen formation, Dr. Jazayeri explains what promotes healing protein for wound healing works in real-world cases. He further illustrates this by discussing studies showing improved recovery rates in patients who supplement with amino acids before and after surgery, leading to measurable improvements in patient outcomes. Dr. Jazayeri details how nutrition in surgery doesn’t just apply to those undergoing orthopedic procedures; it also benefits anyone who seeks a smooth recovery from a range of surgical interventions, as nutritional optimization before and after surgery fosters resilience against complications and supports functional recovery.

    The podcast concludes by inviting listeners to explore additional resources, whether they’re interested in improving patient care or learning more about how nutrition and surgery intersect. For those curious about the science of healing and nutrition, this podcast provides a comprehensive look into Dr. Jazayeri’s innovative perspectives on patient care and nutrition in surgery. By following his advice, individuals facing surgery and medical practitioners alike can better understand the importance of preparing the body nutritionally for the best possible outcomes. Explore further content for more insights on the relationship between surgery nutrition and patient health, and discover how enhancing nutrition in surgery can play a role in effective healing and recovery.

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    46 mins

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