65 episodes

I discuss everything you always wanted and absolutely need to know about start, running and growing a private medical practice. I'll also talk about how to leverage your private practice by adding additional providers, satellite offices and ancillary services. And, vertically integrating other medical businesses like adding an ambulatory surgery center, imaging center, physical therapy and more. I will be sharing my 30+ years of experience as a physician and entrepreneur. After being an employed physician, I started and managed my own private medical practice with 11 providers. I added multiple medical businesses: in-house laboratory services, ambulatory surgery center, physical therapy, imaging center, anesthesia practice management company. I developed joint ventures between physicians and hospitals as well as between physicians and complimentary providers. In addition, I have extensive experience in developing and leasing real estate pertaining to medical services. Be sure to sign up for my newsletter and I'll keep you up to date on everything about starting, running and growing your practice and more.https://www.thepracticebuildingmd.com/podcast-optin-email-newsletter-1

The Private Medical Practice Academy Sandra Weitz MD

    • Business
    • 4.9 • 45 Ratings

I discuss everything you always wanted and absolutely need to know about start, running and growing a private medical practice. I'll also talk about how to leverage your private practice by adding additional providers, satellite offices and ancillary services. And, vertically integrating other medical businesses like adding an ambulatory surgery center, imaging center, physical therapy and more. I will be sharing my 30+ years of experience as a physician and entrepreneur. After being an employed physician, I started and managed my own private medical practice with 11 providers. I added multiple medical businesses: in-house laboratory services, ambulatory surgery center, physical therapy, imaging center, anesthesia practice management company. I developed joint ventures between physicians and hospitals as well as between physicians and complimentary providers. In addition, I have extensive experience in developing and leasing real estate pertaining to medical services. Be sure to sign up for my newsletter and I'll keep you up to date on everything about starting, running and growing your practice and more.https://www.thepracticebuildingmd.com/podcast-optin-email-newsletter-1

    Don't Let Calling Your Office Be A Nightmare with Zed Williamson

    Don't Let Calling Your Office Be A Nightmare with Zed Williamson

    We've all heard, "First impressions matter." Calling your office to schedule an appointment is your patient's first interaction with you and your practice. That call defines whether the patient schedules an appointment. And, their attitude toward future interactions with you and your office. 

    Today, Zed Williamson from TrackableMed joins me to discuss how your staff can improve the impression patients get when they call your office.  One of the most valuable suggestions is to train your staff to answer the phone with a full-on smile. Now this may seem silly but if you try it you'll see the difference in the tone of your voice.

    Between automated phone attendants and online scheduling tools, patients have precious little interaction with your office. Those initial few words of greeting can make or break your success. 

    Other valuable tips from this episode include:
    Call your own office as a secret shopperHave calls answered by a live personIf someone is put on hold, tell them how long it will beFill the dead space so they know they're still connectedAs you'll hear, "First impressions" do matter. Listen to this episode to learn what steps you need to have your staff take to get that patient's needs addressed and loving your practice.

    After spending years in advertising, Zed Williamson founded TrackableMed in 2011, a patient demand acceleration platform rooted in neuroscience. Zed grew frustrated by the lack of accountability in the advertising industry and started TrackableMed to focus on results. Today, you can find him reading, spending time with his wife and teenage sons, and running a highly innovative business that helps private practices create patient demand for their therapies.
    https://www.trackablemed.com/patient-engagement-solutions

    If you'd like to hear more tips on how to start, run and grow your practice and related medical businesses, please sign up for my newsletter at https://www.thepracticebuildingmd.com.   

    Be sure to join my FB group, The Private Medical Practice Academy.

    Enroll in my course,  How To Start Your Own Practice and get the step-by-step process for opening your doors.

    Or join The Private Medical Practice Academy Membership for live group coaching, expert guest speakers and everything you need to know to start, grow and leverage your private practice.

    • 45 min
    Improve Patient Care and Generate Revenue: Remote Monitoring

    Improve Patient Care and Generate Revenue: Remote Monitoring

    One of my greatest frustration with practicing medicine is poor patient compliance. You spend time educating the patient and discussing the treatment plan. When you see them back in follow up you discover they haven't followed through. If you are lucky, they are the same. Unfortunately, sometimes they are worse.
    Using FDA-approved devices, remote monitoring remote patient monitoring (RPM) and remote therapeutic monitoring (RTM)  patients  can alert physicians to any concerning  data between visits. That way, physicians can intervene before things spiral out of control.  The goal behind remote monitoring programs is to improve patient care, decrease healthcare spending by being proactive and improving patient compliance.

    And while I'm sure that we are all for improved patient care and outcomes, I know that nobody wants to do more work. Or do it for free.

    Here's the good news: 
    Implementing RPM/RTM does not require more physician time. When set up correctly, you only have to write the order. You can use your staff to do the rest. RPM/RTM can significantly increase your revenue.In this episode I'll tell you the key differences between RPM and RTM and how to utilize them in your practice.
    If you'd like to hear more tips on how to start, run and grow your practice and related medical businesses, please sign up for my newsletter at https://www.thepracticebuildingmd.com.   

    Be sure to join my FB group, The Private Medical Practice Academy.

    Enroll in my course,  How To Start Your Own Practice and get the step-by-step process for opening your doors.

    Or join The Private Medical Practice Academy Membership for live group coaching, expert guest speakers and everything you need to know to start, grow and leverage your private practice.

    • 15 min
    Understanding Payer Audits With David Vaughn JD, CPC

    Understanding Payer Audits With David Vaughn JD, CPC

    Are you afraid of getting audited by insurance companies or Medicare? Do you get anxious when one of the payers sends you a request to audit 5 of your charts?  Have you heard horror stories of the Feds knocking on a physician's door? Don't worry--you are not alone. 

    But not all audits are created equal.

    Today David Vaughn joins me to discuss what you need to know about the different types of payer audits. David is both an attorney and certified professional coder and has been my healthcare attorney for 20+ years. David has been instrumental in helping my practice's billing compliance.

    Here are some of the topics we discussed during our conversation:
     the difference between a benign audit and the one you should be worried aboutwhat to do if you get auditedwhat your liability is with regard to codingthe importance of self-audithow denials may give you insight into your audit riskthe difference between federal payers and private payersin-network vs. out-of-network audit risksIf you are in private practice you will not want to miss this episode!

    More about David Vaughn: David is one of a limited number of healthcare attorneys in the United States who is also a Certified Professional Coder®, certified by the American Academy of Professional Coders® (“AAPC®”).
    David has served on the Legal Advisory Board of the AAPC and has written several coding and compliance books and manuals. He is also a national speaker on the legal implications of billing and coding. He also has a national healthcare law practice, and has represented over 2,000 physicians in approximately 40 states in over 10 physician disciplines. His practice consists of representing providers in federal and state prosecutions, qui tam cases, and Medicare and third-party payer audits. He also conducts audits and provides education to providers.
    You can reach David at david@lalawfirm.net.

    If you'd like to hear more tips on how to start, run and grow your practice and related medical businesses, please sign up for my newsletter at https://www.thepracticebuildingmd.com.   

    Be sure to join my FB group, The Private Medical Practice Academy.

    Enroll in my course,  How To Start Your Own Practice and get the step-by-step process for opening your doors.

    Or join The Private Medical Practice Academy Membership for live group coaching, expert guest speakers and everything you need to know to start, grow and leverage your private practice.

    • 35 min
    Add Chronic Care Management (CCM) and Principal Care Management (PCM) To Your Practice

    Add Chronic Care Management (CCM) and Principal Care Management (PCM) To Your Practice

     In 2015, the Centers for Medicare & Medicaid Services (CMS) introduced Chronic Care Management (known as CCM) with the intent of improving the care of patients with chronic conditions. CCM offers physicians an opportunity to be compensated for the work that they were doing between office visits including but of course, not limited to calls, education, coordination, and pre-authorizations. In 2020, CMS rolled out Principal Care Management (PCM). 
    What is Chronic Care Management?
    CMS defines CCM as care coordination services done outside of the regular office visit for patients with two or more chronic conditions that are expected to last at least 12 months or until the death of the patient. In addition, these conditions need to place the patient at significant risk of death, acute exacerbation/decompensation, or functional decline.
    You can bill for CCM when a physician or qualified health care professional directs your staff to spend at least 20 minutes of non-face-to-face clinical time treating the patient per calendar month.

    CMS distinguishes between complex and non-complex care. The key differences between them are the:
    Amount of clinical staff service time providedThe Involvement and work of the billing practitionerAnd The extent of care planning performedWondering how much you can increase your revenue by?
    Currently CMS reimburses $42.00 for providing a minimum of 20 minutes of CCM per patient per month. Provide 60 minutes of CCM per patient per month and your practice will get $117.60. Let’s say you have a practice with100 CCM patients you could earn an additional $4,200-$11,760 per month for work you are likely doing anyway.
    What is Principal Care Management (PCM)?
    PCM is similar to CCM because both services are intended for patients requiring ongoing clinical monitoring and care coordination. One of the key differences, however, is that PCM only requires patients to have one complex chronic condition. 
    There are 6 criteria for PCM:
    The condition is expected to last at least three months.The condition places the patient at significant risk of hospitalization, acute exacerbation/decompensation, functional decline, or death.The condition requires the development, monitoring, or revision of a disease-specific care plan.The condition requires frequent adjustments in medication regimens, and/or the management of this condition is unusually complex due to the patient’s comorbidities.The condition requires ongoing communication and care coordination between the relevant providers who are involved in the patient’s care.The condition requires at least 30 minutes of PCM services per calendar month.To incorporate CCM and/or PCM into your practice, you will need to develop processes for implementation, tracking and billing. Tracking time and then using the appropriate codes is probably the most difficult part. You have to document the name of the staff member, the time spent, what they did specifically and their credentials.

    If you'd like to hear more tips on how to start, run and grow your practice and related medical businesses, please sign up for my newsletter at https://www.thepracticebuildingmd.com.   

    Be sure to join my FB group, The Private Medical Practice Academy.

    Enroll in my course,  How To Start Your Own Practice and get the step-by-step process for opening your doors.

    Or join The Private Medical Practice Academy Membership for live group coaching, expert guest speakers and every

    • 12 min
    Demystifying Malpractice Insurance with Jennifer Wiggins, Aegis Malpractice

    Demystifying Malpractice Insurance with Jennifer Wiggins, Aegis Malpractice

     If you are an employed physician, chances are your employer purchases  malpractice insurance for you. Your first introduction to the complexities of malpractice insurance may come when you leave that employer and have to buy a "tail." And, if when you start your own practice you'll need to understand how to get the best malpractice insurance. 

    Today, I chat with Jennifer Wiggins from Aegis Malpractice to help demystify malpractice insurance. Jennifer has over 16 years experience working for one of the country's largest malpractice insurers. In 2018, she left to start Aegis Malpractice, a broker specializing in malpractice insurance. 

    Here are some highlights:
    Difference between claims-made and occurrence malpractice insuranceWhen do you need a tail?How often you should shop your malpractice insuranceThe key elements of a malpractice policyAttorneys and who decides when to settle a caseWhy your practice needs a malpractice policy (and not just the individual physicians)How to choose a malpractice carrierDo you need a broker and if so, how do you which oneWe all know that malpractice insurance is a major expense. You want to make sure that your money is buying you the best policy for your practice. Jennifer and Aegis are offering a free, no obligation review of your current malpractice insurance policy. You can learn more at https://www.aegismalpractice.com and be sure to mention this podcast.

    If you'd like to hear more tips on how to start, run and grow your practice and related medical businesses, please sign up for my newsletter at https://www.thepracticebuildingmd.com.   

    And, be sure to join my FB group, The Private Medical Practice Academy.

    Enroll in my course,  How To Start Your Own Practice and get the step-by-step process for opening your doors.

    Or join The Private Medical Practice Academy Membership for live group coaching, expert guest speakers and everything you need to know to start, grow and leverage your private practice.

    Reflect and earn CME here https://earnc.me/H64Hxk

    • 38 min
    In Network vs. Out-Of-Network with Guest: John Lin MD

    In Network vs. Out-Of-Network with Guest: John Lin MD

    Today I had a great chat with Dr. John Lin about how to think about choosing to be In-Network vs. Out-of-Network. We all know that dealing with health insurance companies can be very frustrating. But reimbursement rates are only a part of what makes dealing with these companies a headache.

    Trying to decide whether it makes sense for you and your practice to be In-Network or Out-of-Network has to be an informed calculation rather than an emotional decision.  Here are some of the topics we hit on:
    What is the demographics of your practice?Can you "afford" to lose that patient population?What percentage of your payor mix does the insurance company make up?How much time (% of an FTE) does it take you and your staff to get prior authorizations and payment for this insurance company?One of the key points of our discussion is that being In-Network  or Out-of-Network is not an all or none decision. Both Dr. Lin and I started our practices In-Network with most payors in order to get our practices full. And then, with time and experience, evaluated and re-evaluated each payor and their contracts to decide whether it was beneficial to our practices.

    You'll want to listen to our discussion of the decision-making process as you consider these choices for yourself.
    Dr. Lin is a private practice urologist in Gilbert, Arizona. He is also an immigrant, operates multiple businesses, is an angel investor, and is a very grateful winner. He is an avid student of efficient practice management and frequently speaks on coding, billing, practice management, and online reputation management.

    Urologists from across the U.S. and the U.K. have visited his practice to learn about practice efficiencies.

    Dr. Lin consults for numerous physicians who are starting and running successful practices.

    He believes in sharing knowledge and paying it forward.

    Dr. Lin helps urology practices throughout the U.S. as the host of The Thriving Urology Practice Facebook Group. He runs multiple YouTube channels. You can also find him on all the popular social media channels as @jclinmd.

    If you'd like to hear more tips on how to start, run and grow your practice and related medical businesses, please sign up for my newsletter at https://www.thepracticebuildingmd.com.   

    And, be sure to join my FB group, The Private Medical Practice Academy.

    Enroll in my course,  How To Start Your Own Practice and get the step-by-step process for opening your doors.

    Or join The Private Medical Practice Academy Membership for live group coaching, expert guest speakers and everything you need to know to start, grow and leverage your private practice.

    • 37 min

Customer Reviews

4.9 out of 5
45 Ratings

45 Ratings

Jrobertson8 ,

Unbelievably Informative

Dr. Weitz expertise in the private medical practice world is on full display in every single podcast. She breaks down complex topics with ease and makes the information easily digestible. Great for any listener interested in private medical practice (from beginner to expert). Thank you so much for sharing your industry knowledge!!

ALFMdoc ,

Awesome

Such great content. Every episode is informative, concise, and easy to follow. By far, the best podcast I’ve found related to starting a medical practice. I am so glad to have this resource!

dsaper ,

MUST LISTEN IF IN PRIVATE PRACTICE

This is beyond a doubt the best podcast to listen to if you are thinking about starting a private practice or in a private practice. Sandra teaches us step-by-step all the behind-the-scenes logistics needed to start and be successful in practice. True nuts and bolts and an incredible service to the medical community. Thank you!!

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