Who is this podcast for? It's for you if you: Lay awake at night wondering if your medical practice is doing well financially, or if you are concerned about your insurance contracts or your reimbursement, or if you worry about being embezzled. Do you want a big piece of new equipment, but are not sure it's a wise purchase, or do you shudder every time a financial question comes up? Join Jill Arena, CEO of Health e Practices and other healthcare industry experts as they demystify the business ...
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Episode 114: The Art of Patient Retention: Building Loyalty in a Competitive Market
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Send us a text Welcome to this episode of the Medical Money Matters podcast. I’m so glad you’re here, because today we’re diving into a topic that impacts every medical practice—whether you’re a solo provider or part of a large group. Patient retention. If you’ve ever wondered why patients leave, what it costs your practice when they do, or how to …
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Episode 113: The Digital Front Door: Optimizing Online Presence for Patient Growth
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Send us a text Today, we're diving into a topic that’s transforming the way healthcare practices grow and thrive: the digital front door. In a world where convenience and technology reign supreme, staying ahead of the curve isn’t just about embracing change; it’s about survival. Patients today expect seamless, efficient interactions with their heal…
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Episode 112: From Frustration to Fulfillment: Building Your Practice’s Dream Team
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Send us a text Today, we’re going to tackle an issue that’s been a thorn in the side of so many practice owners and administrators: hiring, and not only hiring, but hiring your dream team! Let me guess—you’ve said it before, maybe even this week: “It’s so hard to find good help these days.” It’s a sentiment we hear constantly, and one that can feel…
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Episode 111: Compensation Clarity: Designing Physician Pay Models That Work
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Send us a text Compensation isn’t just about money—it’s about value, recognition, and culture. It’s no wonder it’s one of the most emotionally charged topics in any medical group. Today’s topic is one that often stirs strong emotions: physician compensation. Designing an effective pay model is one of the most challenging tasks for any practice lead…
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Episode 110: Future-Proofing Your Workforce: The Offshoring and Automation Playbook
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Send us a text Today, we’re exploring a topic that’s top-of-mind for many practice leaders: workforce optimization. Specifically, how can strategies like offshoring, artificial intelligence, and robotic process automation help you future-proof your workforce while driving down costs and increasing efficiency? Did you know that workforce costs accou…
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Episode 109: The Future of Medical Practice: Navigating the Shift to Value-Based Care
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Send us a text Today, we’re diving into one of the most transformative changes in healthcare: the shift to value-based care. It’s not just a buzzword—it’s a movement that’s reshaping how medical practices operate, get reimbursed, and deliver care. Picture this: a tale of two clinics in the SAME city. One is thriving under a value-based care model, …
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Episode 108: The Financial Prescription: Smart Strategies for Budgeting in Medical Practices
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Send us a text Today, we’re talking about a discipline that every practice needs but too few truly master—budgeting. Think of your budget as the GPS of your practice’s finances. Without it, you’re driving blind, hoping to reach your destination but constantly at risk of wrong turns, delays, or running out of gas altogether. A budget is more than nu…
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Episode 107: Revolutionizing Work: How Offshoring, AI, and RPA Empower Your Workforce - A Conversation with Josie Van Scholten
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Send us a text Join me for a fascinating conversation with Josie Van Scholten, Managing Partner of Valenta, a global company specializing in offshoring, AI and robotic process automation. Josie is a recovering practice administrator, and focuses on working with medical practices to future proof their workforce. She and I discuss how offshoring work…
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Episode 106: Spend to Succeed: Mastering Big Investments in Your Medical Practice
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Send us a text Today’s topic is one I know will resonate with many of you: the paradox of needing to spend money to make money. It’s a concept that’s often discussed in the business world, but it can feel especially challenging in the context of a medical practice. Why? Because for most physicians, business training wasn’t a part of the curriculum …
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Episode 105: Managing Competing Priorities and Staying True to Your Strategic Plan
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Send us a text In this episode, we’re tackling an issue that every medical group, big or small, has faced: managing competing priorities while staying true to your strategic plan. This topic hits home for so many of us because the very nature of healthcare—fast-paced, dynamic, and unpredictable—makes it difficult to juggle everything effectively. B…
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Episode 104: Second Season Finale and Giving Thanks
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Send us a text Welcome back to Medical Money Matters! It’s hard to believe we’ve reached the end of our second season. What a journey this has been, and as we head into this season of thanks-giving, I want to take a moment to reflect on many things that have carried us through these first two years of episodes. First and foremost, thank you to you,…
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Episode 103: Is Your Cyber Incident Response Plan Up to Snuff?
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Send us a text Today, we’re diving into a critical topic that’s only becoming more urgent as cyber threats grow: Is Your Cyber Incident Response Plan Up to Snuff? Now, if you’re a physician running or managing a practice, you might think cybersecurity isn’t something you need to worry about daily. Think back to March of 2024, which saw the Change H…
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Episode 102: Is Your Office Manager Living the Peter Principle?
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Send us a text Today, we're diving into a topic that might be affecting your practice more than you realize: Is Your Office Manager Living the Peter Principle? Now, you might be wondering—what is the Peter Principle? And how could it apply to my medical practice? Let’s break it down. The Peter Principle is a concept first described by Dr. Laurence …
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Episode 101: Meet the Four Embezzlers Lurking in Plain Sight: A Guide for Savvy Physicians
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Send us a text Today’s topic is one that can be hard to think about but is crucial for anyone managing a practice: embezzlement. We’re calling today’s episode “Meet the Four Embezzlers Lurking in Plain Sight: A Guide for Savvy Physicians.” Why focus on this? Well, physician practices have unique vulnerabilities that make them especially appealing t…
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Episode 100: “An Ounce of Prevention” – A Tribute to Ben Franklin on our 100th Episode
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Send us a text Today we're thrilled to bring you a very special episode. This marks our 100th episode! Yes, we’ve hit a milestone, and I just want to take a moment to thank all of you, our loyal listeners, for tuning in, sharing feedback, and helping us grow this incredible community of healthcare professionals and administrators. It’s been an amaz…
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Episode 99: Recognizing Signs of Growth in Your Practice and Planning for It
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Send us a text Given that this is Episode 99, which is a number that signifies growth and the ending of one era and the beginning of another, it seemed an opportune time to talk about recognizing the signs of growth in your practice and how to plan for it effectively. As healthcare providers, we often find ourselves so focused on patient care that …
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Episode 98.6: What's “Normal” in a Medical Practice
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Send us a text Welcome to episode 98.6, where we explore an idea that runs deeper than just managing patient care or handling office logistics. We’re going to talk about what it means to be “normal” in a medical practice. Now, most of us are familiar with the concept of 98.6°F as the “normal” temperature for a healthy human body. It’s become a stan…
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Episode 97: The Culture Club: Building Culture in Your Group
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Send us a text Welcome to today’s episode, where we’re diving deep into one of the most important but often overlooked aspects of running a successful medical group: building a positive, intentional culture. You’ve probably heard the phrase, “Culture eats strategy for lunch”—and if you haven’t, you’re about to understand why that idea is so critica…
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Episode 96: Trusted Advisors and Why Your Practice Needs Them
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Send us a text Today, we’re diving into a topic that doesn’t always get the attention it deserves: trusted advisors and why your practice needs them. Running a medical practice isn’t just about seeing patients—it’s also about making smart business decisions. And sometimes, those decisions require expert advice. So, whether you’re just starting your…
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Episode 95: The Best Time for Physicians to Buy Real Estate - a Conversation with James Winchester
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Send us a text The old adage goes, "The best time to buy real estate is any time before today," and this is what we explore in our conversation about real estate investing for physician groups in my conversation with James Winchester of CMAC Partners. James works with physician groups all over the country on financing, refinancing, structuring and …
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Episode 94: Keep it In House or Outsource? That is the Question
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Send us a text Today we’re exploring a topic that every practice has to confront at some point: should you handle critical services in-house or outsource them? It’s a key decision that can make a huge difference in how your practice operates, the quality of care you provide, and, of course, your bottom line. And, a note about today’s episode - as a…
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Episode 93: Exploring Workers’ Compensation and Motor Vehicle Accidents as Lucrative Lines of Business for Physician Practices
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Send us a text Today, we’re going to explore a topic that’s both financially lucrative and operationally challenging for physician practices: Workers’ Compensation and Motor Vehicle Accidents, or MVA, as lines of business. Now, if you’re a physician or an administrator managing a medical practice, you know that these two areas can represent signifi…
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Episode 92: Mastermind Groups and Why Physicians Might Want One - A Conversation with Shandy Welch, FNP, PCC
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Send us a text What is a Mastermind Group? This week, I visit with Shandy Welch, FNP, PCC to learn about the Mastermind Groups that she facilitates, and to talk about the benefits of joining one. Shandy shares generously from her many years of executive coaching and running Mastermind Groups about what to expect, and the results she's seen over the…
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Episode 91: The Science of Improvement: How CQI Can Transform Your Practice
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Send us a text Today’s topic is something every practice owner and administrator should be familiar with: Continuous Quality Improvement, or CQI, and the "alphabet soup" of improvement methodologies that come with it, like PDSA, Six Sigma, Lean, and FMEA. You might be thinking—great, more buzzwords. But the truth is, these concepts have the potenti…
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Episode 90: Using Technology to Bring in More Money – A conversation with Rivet Health Co-Founder, Andrew Harding
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Send us a text In this episode, I’m joined by Andrew Harding, national revenue expert and co-founder of Rivet Health, a software company that was created to be the healthcare revenue cycle acceleration platform. We discuss how and why physicians should look to accelerate their revenue cycle and what technology is available today to support that wor…
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Episode 89: Making Your EMR Work Smarter: Thinking Through Tech Upgrades
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Send us a text Today we’re covering a topic that can transform the efficiency and effectiveness of your clinic: tech add-ons for your Electronic Medical Records system. When we select an EMR, we frequently assume that it will handle everything for us. And, as we “move in” and start to really use the product, we can identify some things it doesn’t d…
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Episode 88: The Retail Remedy: Boost Revenue and Patient Satisfaction
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Send us a text Today we’re diving into a topic that’s sparking a lot of conversation in the healthcare community: the incorporation of retail components into outpatient clinics. We'll explore the traditional views that often see retail as "tacky," the benefits of adding retail services, and the opportunity costs of not setting them up. Let’s get st…
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Episode 87: Maximize Your Clinic's Potential: Profitable Ancillary Services
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Send us a text Today we’re diving into a crucial topic for outpatient clinics: the most profitable ancillary services to offer. We’ll explore various subspecialties, weigh the pros and cons of different services, and consider how these services can enhance patient care and convenience. This episode will provide you with the insights needed to make …
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Episode 86: The AI Will See You Now – Impact of AI on Outpatient Medicine
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Send us a text Today we’re diving into a fascinating and rapidly evolving topic: the impact of AI on outpatient medicine. In this episode, we’ll explore how AI is changing the landscape of healthcare in the immediate and medium term, which subspecialties are likely to see the biggest changes, and where AI will make the most significant inroads over…
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Episode 85: Need More Peeps? Deciding When to Add Another Clinician to Your Group
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Send us a text Today we’re tackling an important decision for any clinic leader: deciding when to add another clinician to your group. Whether you’re considering adding another physician or an Advanced Practice Provider (APP), this episode will guide you through the various considerations involved. We’ll cover assessing the need for additional clin…
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Episode 84: Getting Things Done - Efficiency Hacks for Clinic Leaders
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Send us a text Today we’re exploring a crucial topic for clinic leaders: getting things done. We’ll discuss practical hacks to boost efficiency and effectiveness, focusing on the art of delegating, mastering digital communication, and more. Whether you’re a seasoned executive or new to a leadership role, these insights can help you streamline opera…
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Episode 83: Got a Toxic Team Member? Strategies for a Healthier Clinic
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Send us a text In this episode, we're diving into a topic that's crucial for the health of any clinic: managing the toxic employee. We'll explore the costs of not dealing with toxic behavior, the damage it can do to your clinic's staff, reputation, and overall wellbeing, and why it’s so often tolerated. Plus, we'll provide actionable solutions to c…
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Episode 82: Payer Contracting - Do's, Don'ts and Horror Stories - A Conversation with Doral Jacobsen
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Send us a text Join me for an enlightening conversation about payer contracting, with Doral Jacobsen, CEO of Prosper Beyond, a national payer contracting company: https://prosperbeyond.com/ Doral draws on many years of experience in both clinic operations and also in working on the payer side of the world as she advises her physician clients on the…
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Episode 81: What’s Reasonable to Expect from Your Administrator?
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Send us a text Today we're diving into a topic that is vital for the smooth operation and success of any medical practice: understanding what is reasonable to expect from your administrators. As physicians, your primary focus is on patient care, and the backbone of any well-functioning practice lies in having effective administration. Whether you'r…
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Episode 80: Promoting a Culture of Accountability and Why It Matters
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Send us a text Welcome to this episode, where we delve into the financial and operational aspects of running a successful medical practice. Today, we’re tackling a crucial topic that impacts every aspect of a medical clinic—accountability. This is one I struggle with in our group, as it’s sometimes difficult to find a good balance between having gr…
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Episode 79: Developing the Next Generation of Leaders
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Send us a text In today’s rapidly changing healthcare environment, effective leadership is more important than ever. Strong leaders drive innovation, improve patient outcomes, and ensure the sustainability of healthcare organizations. That’s why today’s episode is all about developing the next generation of leaders in healthcare. We’ll focus on two…
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Episode 78: Gimme a Break! When You Need a Time Out as a Leader
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Send us a text Today we're diving into an essential topic for all leaders: recognizing when it's time to take a break and how to do it effectively. In the demanding world of healthcare, leaders often put their own needs last, but neglecting self-care can lead to burnout, reduced effectiveness, and even health issues. Today's episode is all about un…
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Episode 77: Special Mother's Day Edition - A Conversation with Bella Arena
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Send us a text This week's episode is a shout out to all of the hard working Moms in healthcare! My daughter Bella and I talk about what it's like growing up in a healthcare household, and what we've each learned from the other along the way. This episode is a tribute to the many professional women in our industry who also carry the title of "Mom."…
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Episode 76: Workforce Development: Cultivating Growth and Embracing Change
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Send us a text Today, we're exploring workforce development, and how it fits with your overall success strategy. It's not just about filling positions; it’s about creating environments where professionals aren't just working but thriving and growing. Let’s discover how making your practice a destination workplace can benefit your team and your over…
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Episode 75: Got Dysfunction on Your Team? Overcoming Dysfunction in Medical Practices
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Send us a text Welcome to today's episode, where we delve into the world of business psychology, focusing specifically on team dynamics within medical practices. Based on Patrick Lencioni's seminal book, "The Five Dysfunctions of a Team," we'll explore how these principles apply to the unique setting of healthcare. Whether you're a physician, pract…
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Episode 74: Need More Patients? Marketing 101 for Your Medical Practice
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Send us a text In this episode of the Medical Money Matters Podcast, we delve into the pivotal role of marketing in the medical field. Whether you're just starting out or looking to expand your existing practice, understanding and implementing effective marketing strategies is crucial. Today, we're specifically focusing on marketing strategies for …
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Episode 73: Disaster Strikes….Are You Prepared? Business Continuity Planning for Medical Groups
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Send us a text Today, we’re diving into an essential topic that every medical practice owner and administrator should prioritize: Business Continuity Planning, or BCP. In the world of healthcare, where patient care and safety are paramount, being prepared for the unexpected is not just prudent—it’s critical. Whether it's a natural disaster, a cyber…
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Episode 72: You’ve Got Some Great Team Members – How Do You Keep Them? Revisiting Employalty and Advanced Retention Strategies
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Send us a text In this episode, we're focusing on a critical issue that every healthcare organization faces: employee retention. In a field as demanding as healthcare, retaining skilled, dedicated professionals isn't just beneficial; it's essential for maintaining high standards of patient care and operational excellence. Drawing inspiration from J…
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Episode 71: Staffing: Why Is This Still So Difficult?
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Send us a text In the wake of the pandemic, the healthcare industry faces unprecedented staffing challenges. From the scramble for qualified professionals to the evolving landscape of patient care needs, medical groups nationwide are feeling the pressure. But why exactly is staffing proving to be such a Herculean task, and more importantly, what ca…
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Episode 70: More on Embezzle-Proofing Your Practice: Advanced Strategies for Medical Professionals
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Send us a text The unfortunate reality is that embezzlement in the healthcare sector is on the rise. In this episode, we review: these aren't just numbers on a page; they're significant breaches that can drain your resources, demoralize your team, and damage the trust you've worked so hard to build with your patients. As we said in our earlier epis…
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Episode 69: Do You Dread the Annual Evaluation for your CEO or Practice Administrator?
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Send us a text Do you dread having to conduct the annual evaluation for your practice's leader? Your CEO or Practice Administrator sees to it that all of the staff's evaluations are completed, but now it's time for their annual review. Many physicians dread having to do this, as it's not something that's taught in medical school. This episode break…
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Episode 68: Succession Planning, New Partners and Practice Sales - A Conversation with Debra Phairas
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Send us a text Practice transitions can be easy if you plan for them or difficult if you don't. Join me for a conversation with long time practice consultant Debra Phairas of Practice & Liability Consultants, a west coast consulting company. Debra brings many years of experience in valuing and consulting to practices and walks through many common s…
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Episode 67: What We Can Learn from the Change Healthcare Cyber Attack
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Send us a text The recent cyberattack on Change Healthcare has sent shockwaves through the healthcare market, underscoring the critical importance of cybersecurity in the healthcare sector. This event not only disrupted the company's operations but also had a cascading effect on physician practices and medical groups reliant on its services for bil…
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Episode 66: Show Me the Money! Innovations in Patient Payment Systems
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Send us a text In this episode, we're exploring a topic that's revolutionizing the patient payment landscape in healthcare: Digital Wallets and Contactless Payments. The days of writing checks and swiping cards are fading into the backdrop of healthcare payments. Today, we're witnessing a remarkable transformation, a shift towards more modern, tech…
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Episode 65: The Doctor Will See You Now, Online - Telehealth Revolution and Reimbursement Challenges
9:34
9:34
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Send us a text The concept of a doctor's visit has been redefined, largely by the pandemic. No longer confined to the four walls of a clinic, healthcare has transcended physical boundaries, thanks to telehealth and virtual visits. But how did we get here? It's a story of technology meeting necessity, a narrative of innovation that's reshaping healt…
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