Healthcare Boss Academy Podcast

Latest Episodes:

#248: Eric Miller: Build Business Profits, Enterprise Value & Assets as a Practice Owner Apr 28, 2022

Show notes

OVERVIEW:

Jason A. Duprat, MBA, CRNA, Healthcare Practitioner, and Host of the Healthcare Boss Academy, discusses businesses of private practice owners with Eric Miller, co-founder and chief financial advisor at Econologics Financial Advisors, a full-service investment advisor firm and insurance agency. Eric explains how private practice owners get abundant income streams through profitable, sustainable, and transferable businesses.

EPISODE HIGHLIGHTS

Eric grew up in a blue-collar family in Ohio. Having transferred to Clearwater, Florida, he started his financial planning practice there and decided to work with practice owners.
Pick a niche to help people who are believed to be underserved.
Your goals should include having income from multiple sources and building a profitable and transferable business.
Keeping your assets protected from taxes, inflation, and lawsuits create the most favorable financial conditions.
Being a good owner and executive, on top of being a good practitioner, gets you not only the business profits but also the enterprise value.
The golden rule of income is that your business will make exactly what it thinks it needs to make to cover its most vital expenses.
Consider income, value appreciation, and tax benefits before borrowing money. How it will be used will either create constructive or destructive debts.
Multiple income sources in the business are typically better than focusing on one source alone.
Become successful in doing the roles of the owner, executive, and practitioner by improving yourself.
State statutes, insurances, umbrella policies, and business entities are tools for asset protection.

3 KEY POINTS

Never be reliant on a practice alone – work to create other income sources.
Executive and ownership skills are essential to scaling the business.
Borrow money only if it helps the business expand and unnecessary business debt can drag you down.

TWEETABLE QUOTES

"You need to learn the skills of the executive and an owner because those are really ready to allow you to expand and be able to scale the business and not have it run you at some point in time." – Eric Miller

"The biggest expense you have is money that you should have made, but you didn't." – Eric Miller

CONNECT WITH JASON DUPRAT:

LinkedIn | Facebook | Instagram | Youtube | Facebook Group

RESOURCES:

Sign up for one of our free business start-up Masterclasses by heading over to https://healthcareboss.org/masterclass/
Have a healthcare business question? Email me at podcast@healthcareboss.org and I'll add you to my contacts. Occasionally, I'll share important announcements and answer your questions as well.
Do you enjoy our podcast? Leave a rating and review: https://lovethepodcast.com/hea

#247: Tactical Tuesday: The One Thing That Can Prevent You From Getting Screwed When Someone Quits Apr 26, 2022

Show notes

OVERVIEW:

Jason A. Duprat, MBA, CRNA, Healthcare Practitioner, and Host of the Healthcare Boss Academy podcast, talks about the importance of standard operating procedures and documentation within a business. Recently, one of the long-time contractors from his marketing department left the company in a very unprofessional way by resigning on the spot. Jason provides insight into what preparations can be done to prevent your business from struggling if situations similar to this happen to you.

EPISODE HIGHLIGHTS

One contractor quits from Jason's marketing team, exposing mistakes he made that would've certainly caused large problems in the near future.
Jason had to hire a freelance contractor to go through the automation and integrations and create documentation that was never done.
When hiring contractors and employees, be sure to familiarize their software tools.
Marketing contractors and agencies can suddenly go out of business. Knowing the backend and having it documented saves you and your future marketers time.
Splitting vital roles between two individuals ensures the business isn't left high and dry if one of them quits or gets sick.
SOPs and documentation are the tools that help you free yourself from the business.
Always audit internal systems to lessen mistakes and errors.
As a business owner, you need to extract yourself from the business, and one of the keys to doing that is having systems, processes, and documentation in place.

3 KEY POINTS

Documentation and SOPs ensure smooth transitions.
Always maintain the upper hand as the business owner.
Never be too dependent on one individual.

TWEETABLE QUOTES

"If you have a department where you only have one person who's basically running the whole show, you've got to have documentation; you've got to have SOPs because you're setting yourself up for big problems if they don't show up" – Jason Duprat

"Don't forget about your SOPs, don't forget about your documentation, don't let it go by the wayside." – Jason Duprat

CONNECT WITH JASON DUPRAT:

LinkedIn | Facebook | Instagram | Youtube | Facebook Group

RESOURCES:

Sign up for one of our free business start-up Masterclasses by heading over to https://healthcareboss.org/masterclass/
Have a healthcare business question? Email me at podcast@healthcareboss.org and I'll add you to my contacts. Occasionally, I'll share important announcements and answer your questions as well.
Do you enjoy our podcast? Leave a rating and review: https://lovethepodcast.com/hea

Bonus #7: Champions of Charity: Kimberly Juroviesky: Ensuring Safe Ketamine Access for Pain & Mental Health Patients Apr 20, 2022

Show notes

OVERVIEW:

Jason A. Duprat, MBA, CRNA, Healthcare Practitioner, and Host of the Healthcare Boss Academy podcast, is joined by Kimberly Juroviesky, a retired nurse practitioner, USAF veteran, and president of Ketamine Taskforce, Inc. Kimberly developed Complex Regional Pain Syndrome due to an injury while on active duty, which led her to get ketamine infusions as part of a research study. She shares how ketamine therapy helps reduce her pain to what she describes as "liveable levels" and shares insight into her advocacy efforts to provide more patients access to ketamine therapy.

EPISODE HIGHLIGHTS

Kimberly trained to be a nurse practitioner and nurse midwife at Columbia University and The University of Medicine and Dentistry of New Jersey.
She joined the USAF at 37, where she tore some ligaments in her hand which eventually developed into Complex Regional Pain Syndrome.
Kimberly signed up to be part of a ketamine research study with hopes of easing her pain.
While ketamine therapy reduces pain, provides relief from depression symptoms, and can rapidly terminate suicidal ideations, the administration of ketamine can be an unpleasant experience for some yet a pleasant and transformational experience for others. Preparing the patient for what to expect is key.
Kimberly authored the book "Ketamine Infusions: A Patient's Guide" to help others navigate ketamine therapy.
The neuroplasticity effects of ketamine can be profound.
The Ketamine Taskforce is founded on three things: insurance coverage, research studies, and safety.
Take precautions when taking other pharmaceuticals with ketamine infusions as some may decrease the effectiveness of ketamine.
Insurance coverage is the most common hurdle that makes ketamine inaccessible to many.

3 KEY POINTS

Ketamine therapy is still not accessible to those who can't afford it.
Different people have different levels of response to ketamine therapy.
Ketamine is not physically addictive.

TWEETABLE QUOTES

"You can't give a patient something and not tell them what's in it. It's dishonest. I think it goes against medical ethics." – Kimberly Juroviesky

"I really strongly believe that ketamine's neuroplasticity continues quite long afterward." – Kimberly Juroviesky

RESOURCES:

Sign up for one of our free business start-up Masterclasses by heading over to https://healthcareboss.org/masterclass/
Have a healthcare business question? Email me at podcast@healthcareboss.org and I'll add you to my contacts. Occasionally, I'll share important announcements and answer your questions as well.
Do you enjoy our podcast? Leave a rating and review: https://lovethepodcast.com/hea

#246: Tactical Tuesday: Stop Accepting Average If You Want Above Average Results Apr 19, 2022

Show notes

OVERVIEW:

Jason A. Duprat, MBA, CRNA, Healthcare Practitioner, and Host of the Healthcare Boss Academy podcast, talks about the need to stop giving average effort when expectations call for above-average results. Effort is a two-way street: what you give is what you get. Jason has encountered several people whose expectations are far beyond what they do, which only falls into disappointment. He explains why a change in mindset and a performance upgrade can help you reach that above-average result.

EPISODE HIGHLIGHTS

Do everything to the best of your ability.
Average businesses go out of business, often within the first three years.
Evaluate yourself and step things up a notch. Take action and make constant improvements.
How someone is prepared is a reflection of their performance.
Don't fall into the trap of being content with the average, especially in entrepreneurship.
Maximum effort equates to a high reward.

3 KEY POINTS

There is no room for average; do your best at everything you do.
Always take action to improve. It is a requirement to reach the pinnacle.
Hold yourself and your team to a higher standard.

TWEETABLE QUOTES

"Everything that you do should be aimed at doing things to your absolute best." – Jason Duprat

"If that's how you operate, where your output is average and you are not putting forth full effort, you will not survive. You're going to lose all of your money that you invested into your business, and you have close to zero chance of surviving beyond the first three years." – Jason Duprat

CONNECT WITH JASON DUPRAT:

LinkedIn | Facebook | Instagram | Youtube | Facebook Group

RESOURCES:

Sign up for one of our free business start-up Masterclasses by heading over to https://healthcareboss.org/masterclass/
Have a healthcare business question? Email me at podcast@healthcareboss.org and I'll add you to my contacts. Occasionally, I'll share important announcements and answer your questions as well.
Do you enjoy our podcast? Leave a rating and review: https://lovethepodcast.com/hea

#245: Jeremiah Robison: The Duality of Being an Entrepreneur & A Parent Seeking Solutions Apr 14, 2022

Show notes

OVERVIEW:

Jason A. Duprat, MBA, CRNA, Healthcare Practitioner, and Host of the Healthcare Boss Academy podcast, discuss clothing for movement with Jeremiah Robison, CEO of Cionic, an innovative company building lightweight and durable bionic clothing driven by powerful algorithms that adapt in real-time to each individual's mobility needs. Jeremiah tells how his mission to provide a wearable solution to augment function and improve outcomes for individuals impacted with neurological movement disorders, especially his daughter with cerebral palsy, has led him to establish the company.

EPISODE HIGHLIGHTS

Jeremiah was born to an entrepreneur mother running a spine therapy clinic and a computer scientist father. He got his computer science degree from Standford University.
He started his career working for Apple in the 90s and for other companies.
Cionic was founded with a commitment to Jeremiah's daughter diagnosed with cerebral palsy.
The journey for Cionic eventually led to the creation of the Neural Sleeve.
The Neural Sleeve uses functional electrical stimulation as its augmentation strategy. It works by sending small amounts of current precisely timed into the body to force muscle contractions.
One in seven people suffers from mobility impairment and disability. 60% suffer a lifetime disability in post-stroke individuals, while about half are mobility disabilities.
Jeremiah is focused on his technology serving its current target market but reveals potential opportunities for performance enhancement in the sports world and beyond.
Personal connections made it easy for Jeremiah to build his team and overcome challenges, including the pandemic.
Challenge the thoughts and ideas of the status quo because they don't always apply in every situation.
UCSF, Cleveland Clinic, and other healthcare organizations are some sources to get funding for medical technologies.

3 KEY POINTS

The best companies are built with a very personal story behind them.
With machine learning and innovation, a product can make a tremendous difference.
A product's impact is its best selling point.

TWEETABLE QUOTES

"There is enough of the commoditization of machine learning and components that would be required to build something that could not only measure the human body but could actually influence movement." – Jeremiah Robison

"That's a big asset if you have other people who are starting a business. It doesn't matter whether it's in your sector or somewhere else. And sometimes, it's even better to be outside of your sector because they have lessons that just apply to business as a whole." – Jeremiah Robison

CONNECT WITH JASON DUPRAT:

LinkedIn | Facebook | Instagram | Youtube | Facebook Group

RESOURCES:

Sign up for one of our free business start-up Masterclasses by heading over to https://healthcareboss.org/masterclass/
Have a healthcare business question? Email me at podcast@healthcareboss.org and I'll add you to my contacts. Occasionally, I'll share important announcements and answer your questions as well.
Do you enjoy our podcast? Leave a rating and review: https://lovethepodcast.com/hea

#244: Tactical Tuesday: The Challenges of Change PLUS Exciting New Updates Apr 12, 2022

Show notes

OVERVIEW:

Jason A. Duprat, MBA, CRNA, Healthcare Practitioner, and Host of the Healthcare Boss Academy podcast, talks about the challenges brought by changes and what to expect when changes are implemented. As Jason improves on his EOS, some inefficiencies in the system were revamped and reorganized to streamline the process further. Inevitably some team members will resist the process and changes, so he shares some insight on how to manage change and work toward building a team of above average players. Jason also provides new updates they prepared to serve the healthcare entrepreneurship space better.

EPISODE HIGHLIGHTS

Change is challenging for everyone, so addressing issues to avoid team conflict is important.
Having everyone reporting directly to you is extremely hard, so hiring new talent with leadership skills will help the company grow and reduce your stress.
Restructuring, rebuilding, and getting things in check are difficult but will ultimately take your company to the next level.
Jason and the team have prepared new training programs and a new award with their goal to become leaders in the healthcare entrepreneurship space.
It is vital to surround yourself with other entrepreneurs, so Jason and his team have started planning a new Mastermind program to create that close-knit circle
Jason has partnered with a successful aesthetics physician and they have already started building a new Aesthetics Academy
The Healthcare Entrepreneur Academy YouTube channel will be relaunched soon, and a new in-person consulting will also be available on a super-limited basis for those willing to have an on-site film team

3 KEY POINTS

Changes need to happen for the greater good of the company.
Take into account best practices from other business owners.
A new approach to how to do things will be what stimulates growth in your business.

TWEETABLE QUOTES

"What got you to the million-dollar mark in your business is not going to be the same thing that gets you to the ten-million-dollar mark." – Jason Duprat

"Implementing change is very frustrating, tedious, time-consuming, and slows a lot of things down in the short-term, but it's something that has to happen for long-term success." – Jason Duprat

CONNECT WITH JASON DUPRAT:

LinkedIn | Facebook | Instagram | Youtube | Facebook Group

RESOURCES:

Sign up for one of our free business start-up Masterclasses by heading over to https://healthcareboss.org/masterclass/
Have a healthcare business question? Email me at podcast@healthcareboss.org and I'll add you to my contacts. Occasionally, I'll share important announcements and answer your questions as well.
Do you enjoy our podcast? Leave a rating and review: https://lovethepodcast.com/hea

#243: Tactical Tuesday: Traveling Down the Path of Progression as an Entrepreneur Apr 05, 2022

Show notes

OVERVIEW:

Jason A. Duprat, MBA, CRNA, Healthcare Practitioner, and Host of the Healthcare Boss Academy podcast, talks about the progression of an entrepreneur and how to position yourself to continue down the path of success. For entrepreneurs to scale up their businesses, they have to learn how to gain leverage, understand leverage, and utilize it to their benefit.

EPISODE HIGHLIGHTS

Jason watched a YouTube video and learned that to grow, you need to learn how to utilize leverage.
Leverage has four components: labor, capital, digital media, and code.
Labor - you have to ask and motivate employees. Collaboration with a team is necessary to create a product or service and ensure successful delivery to customers.
Capital - a business cannot run without capital. Use capital to leverage marketing and have your system down pat by knowing how much to invest and what the ROI is.
Digital media - you don't have to pay a cost to replicate content and this includes licensing.
Code - code can do the work of labor with fewer mistakes, fewer costs, and less downtime.
Think of this as a pyramid. Labor is at the bottom. Move out of the position of making money for someone else and make money for yourself. Start your progression by stepping out of the W-2 job and becoming a 1099.
Next in the progression is to become a business owner. Leverage team skills and time.
After this, start to create content and focus on digital content.
At the top of the pyramid, you're already leveraging content and media and it's onto code. Jason is at this level right now.
Jason watched another YouTube video and shared two key takeaways.
One, if your business is earning 0 to $1 million, focus on selling one core product to a single ideal customer. Get good at what you do.
Once you reach $1 million, you can scale your market. Determine ways to offer lifetime value to your customer. Listen to current customers and offer products/services during their journey. Upsell!
Jason is learning from successful billionaires and by investing in his education. He spent $47k last year on courses, masterminds, books, etc.
The game is real. Invest in your education. Shortcut your path to success and financial freedom.

3 KEY POINTS

Learn, understand, and utilize leverage to your advantage.
Becoming a 1099 makes you learn more business skills compared to being a W2 employee.
Ensure your business offers lifetime customer value.

TWEETABLE QUOTES

"If you start to invest in your education and invest in those relationships with people that are doing things at the next level, then you're going to figure the game out much faster." – Jason Duprat

"It's way easier to shift your mindset when you're not around people who don't share the same mindset." – Jason Duprat

CONNECT WITH JASON DUPRAT:

LinkedIn | Facebook | Instagram | Youtube | Facebook Group

RESOURCES:

Sign up for one of our free business start-up Masterclasses by heading over to https://healthcareboss.org/masterclass/
Have a healthcare business question? Email me at podcast@healthcareboss.org and I'll add you to my contacts. Occasionally, I'll share important announcements and answer your questions as well.
Do you enjoy our podcast? Leave a rating and review: https://lovethepodcast.com/hea

#242: Aaron LeBauer: Scaling Impact & Income with a Cash-Based Practice Mar 31, 2022

Show notes

Overview:

Jason A. Duprat, Entrepreneur, Healthcare Practitioner, and host of the Healthcare Entrepreneur Academy podcast interviews Aaron LeBauer, PT, DPT, host of The Cash PT Lunch Hour Podcast, author of The Cash PT blueprint, and international speaker. Aaron discusses how to efficiently run a cash-based practice without relying on insurance reimbursements. He also provides insightful advice for effective financial management and result-driven marketing to scale your practice - including how to market directly to patients.

Episode Highlights:

Aaron shares his aspirations of becoming a professional cyclist and how being a massage therapist provided the financial resources for his passion.
His wife encouraged him to go to PT school and after he graduated, he started his cash-based practice in 2009.
Aaron shares his advice for individuals transitioning towards practice ownership and that is to get in front of people, ask questions, and provide value.
He markets directly to patients and not physicians. When he first opened his practice, he went to neighborhood meet and greets, and fairs.
He was told patients wouldn't be able to afford his care and it's not ethical to run a cash-based practice.
Aaron believes persistence wins. And it's important to cultivate word-of-mouth referrals.
When caring for patients, ask questions, offer value, and do something to help them. Know their struggles, problems, and desires.
The language you use to speak with your patients is very important. It must be empowering instead of taking the power away from them.
You can do the right thing and it can be done in an untraditional framework.
Aaron's mission is to help patients stay fit, healthy, and strong without pain medications, injections, or surgery.

3 Key Points:

Get in front of people, ask questions and offer value. Gather leads and have a system where you can follow up with leads.
Cultivate "word-of-mouth" referrals and ask them to send their family and friends to you.
Owning a business isn't easy. You have to know why you do it and you have to be dedicated to doing it.

Tweetable Quotes:

"Websites are like business cards. We have to market directly to people who want our services." – Aaron LeBauer

"Finding a mentor that can show you the step-by-step way of building a cash-based practice is a faster and easier road to success than trying to figure it out and reinvent the wheel." – Aaron LeBauer

CONNECT WITH JASON DUPRAT:

LinkedIn | Facebook | Instagram | Youtube | Facebook Group

RESOURCES:

Sign up for one of our free business start-up Masterclasses by heading over to https://healthcareboss.org/masterclass/
Have a healthcare business question? Text me at 386-284-4955, and I'll add you to my contacts. Occasionally, I'll share important announcements and answer your questions as well.
Do you enjoy our podcast? Leave a rating and review: https://lovethepodcast.com/hea

#241: Tactical Tuesday: 5 Ways to Scale & Expand Your Business Market Mar 29, 2022

Show notes

OVERVIEW:

Jason A. Duprat, Entrepreneur, Healthcare Practitioner, and Host of the Healthcare Entrepreneur Academy podcast, talks about choosing the right market for your business model. To achieve favorable outcomes, entrepreneurs should offer products or services to a market with the best possible opportunities. Jason shares five ways to scale up and expand the right market to achieve growth.

EPISODE HIGHLIGHTS

In episode #238, Jason talked about how entrepreneurs can bottleneck their businesses. Another bottleneck to consider is the market you serve.
A good market has five attributes: it's large-sized, has a solvable pain point, has purchasing power, is easy to get in front of in a cost-effective way, and it's growing.
Large-sized markets ensure the business has customer reach.
Your products or services must be the solution to an existing problem in the chosen market.
Purchasing power is especially vital – a business cannot thrive if customers cannot afford it.
Choose a market where advertising is easy and cost-effective.
Make sure the chosen market is growing and not declining.
Jason has spoken with other high-level entrepreneurs and they all say your choice of the market is key. Ask questions, do research, and analyze.
There are five ways you can scale up or expand your market.
One option is to upmarket by serving bigger players to increase your reach and improve efficiency in growing sales.
The second option is to downmarket and get in front of potential clients before they need your product or service.
A third option is to go to an adjacent market as they have similar needs.
The fourth is to offer more services in general.
The last option is to go deeper within your existing market by buying competitors, opening more locations, or offering different delivery platforms.

3 KEY POINTS

The market has a direct relationship to the success of a business.
A good market for your business has five attributes: it's large, has a solvable problem, has purchasing power, is easy to get in front of, and is experiencing growth.
As an entrepreneur, ask questions, do research, and analyze your market to scale up.

TWEETABLE QUOTES

"If you have a poor entrepreneur in a fantastic market, the market is going to win, and that entrepreneur is going to look like a rockstar." – Jason Duprat

"The choice of the market is key, and you'll see investors, those big players are always asking questions and analyzing the market." – Jason Duprat

CONNECT WITH JASON DUPRAT:

LinkedIn | Facebook | Instagram | Youtube | Facebook Group

RESOURCES:

Sign up for one of our free business start-up Masterclasses by heading over to https://healthcareboss.org/masterclass/
Have a healthcare business question? Text me at 386-284-4955, and I'll add you to my contacts. Occasionally, I'll share important announcements and answer your questions as well.
Do you enjoy our podcast? Leave a rating and review: https://lovethepodcast.com/hea

#240: Tactical Tuesday: Hire A-Players to Build a Team of Rock Stars Mar 22, 2022

Show notes

OVERVIEW:

Jason A. Duprat, Entrepreneur, Healthcare Practitioner, and Host of the Healthcare Entrepreneur Academy podcast, discusses a hiring system he learned after attending a recent mastermind. The hiring process is mission-critical for the success of your business because the team is responsible for outcomes. Jason provides tips for seeking out A-player candidates, the best way to conduct interviews, and why you should always be in a recruiting mode.

EPISODE HIGHLIGHTS

The hiring process is an important step for driving business success. You should hire new employees based on core values.
When interviewing applicants, avoid making decisions based on gut feelings.
Bill Allen, a real estate investor, and entrepreneur was a speaker at a recent mastermind Jason attended. He recommends the book Who: The A Method of Hiring by Geoff Smart and Randy Street because it has a well-researched hiring system.
When you make a bad hire, it costs you at least that position's salary. And that figure can go up to 5-15x based on time and money.
Start with a good job description. Have a crystal clear vision about the work to be done and how performance will be measured.
Use a scorecard and include the mission of the job, six to seven detailed breakdowns of what the position will do, and when the actions should be completed.
Break down interviews into three to filter top candidates for the position.
The first is the screening interview. Ask applicants about career goals, skills, strengths, weaknesses, and who their last five bosses were.
Next is the main interview, where references (the last five bosses) are called to probe deeper into the applicant's experience and performance.
The last is the focused interview which highlights the specific skills and traits demanded by the job.
Always be in a recruiting mode because you never know when rockstar employees are looking.
A-players are pulled to other jobs; B and C players are pushed out the door.
If you want an above-average business, you need to hire significantly above-average people.

3 KEY POINTS

Business success lies in the employment process because it's the first step to building a team.
Interviewing is critical in the hiring process so it must be done thoughtfully and intentionally. Hire new employees based on core values.
Accept applications even when there are no positions open – sell the opportunity to work for your business.

TWEETABLE QUOTES

"Don't wait to hire until you're feeling overwhelmed. Be proactive." – Jason Duprat

"You need to hire when what you love to do is being overtaken by what you hate to do." – Jason Duprat

CONNECT WITH JASON DUPRAT:

LinkedIn | Facebook | Instagram | Youtube | Facebook Group

RESOURCES:

Sign up for one of our free business start-up Masterclasses by heading over to https://healthcareboss.org/masterclass/
Have a healthcare business question? Text me at 386-284-4955, and I'll add you to my contacts. Occasionally, I'll share important announcements and answer your questions as well.
Do you enjoy our podcast? Leave a rating and review: https://lovethepodcast.com/hea

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