Healthcare Business Thrivecast

SummaryIn this episode of the Healthcare Business Thrivecast, host Randall Cooper speaks with Kelly Wilkie, a successful physiotherapist and business owner. Kelly shares her journey from starting her own practice to managing a thriving clinic in Tasmania. The conversation covers various themes, including the challenges of burnout in healthcare, the importance of staff well-being, and strategies for attracting and retaining talent. Kelly also discusses her future goals of building a purpose-built facility for healthcare professionals, emphasising the need for collaboration and innovation in the industry.TakeawaysKelly Wilkie started her own practice to prioritise her health and happiness.Burnout is a significant issue in the physiotherapy profession.The importance of core values in maintaining staff well-being.Profit should not be a taboo topic in healthcare businesses.Targeting local talent helps retain staff in Tasmania.Flexibility in work arrangements is essential for achieving a work-life balance.Effective communication with partners is essential for business success.Having processes in place allows for smoother operations when travelling.Selecting the right business partners is crucial for driving growth.Future goals include building a collaborative healthcare facility.Chapters00:00 Introduction to the Healthcare Business Thrivecast01:22 Kelly Wilkie: A Journey in Physiotherapy05:14 Overcoming Burnout in Physiotherapy09:02 Starting a Physiotherapy Practice from Scratch11:18 Creating a Supportive Work Environment14:59 Balancing Profitability and Staff Well-being18:23 Retaining Talent in a Competitive Market19:41 Juggling Family and Career24:34 Navigating Business Partnerships27:24 Future Goals: Purpose-Built Facilities

SummaryIn this episode of the Healthcare Business Thrivecast, hosts Randall Cooper, Michael Kenahan, and Antony Hirst discuss the concept of 'running in the red zone'—a state of overwhelm and stress that many healthcare practitioners experience. They explore the symptoms and effects of this state, strategies for managing it, the importance of structure and planning, and the health implications of sustained stress. The conversation emphasises the need for reflection, mentorship, and support to navigate the challenges of practice management and avoid burnout.TakeawaysRunning in the red zone can lead to burnout and resentment.Identifying symptoms of being in the red zone is crucial.Practice owners often feel overwhelmed and lack control.Creating structure can help manage daily operations better.Mental health is significantly affected by stress in practice management.Regular reflection time is essential for clarity and decision-making.Financial pressures can exacerbate feelings of being in the red zone.Mentorship and support are vital for navigating challenges.Delegation is key to avoiding overwhelm in practice management.It's important to recognise when to seek help and make changes.Chapters00:00 Introduction to Running in the Red Zone01:42 Identifying the Red Zone05:16 The Impact of the Red Zone on Health11:13 Strategies for Managing the Red Zone20:04 Navigating Financial Constraints29:06 Conclusion and Future DiscussionsInstagram@hcbthrivecast

SummaryIn this episode of the Healthcare Business Thrivecast, hosts Randall Cooper, Michael Kenihan, and Anthony Hirst discuss the critical themes of productivity and engagement in healthcare practices. They explore the challenges faced by new practitioners, the shift from commission-based to salary models, and the importance of setting clear expectations and fostering a culture of productivity. The conversation highlights the need for structured planning, measuring engagement, and adapting to generational changes in the workforce. The episode concludes with practical tips for enhancing productivity and engagement in clinical settings.TakeawaysProductivity is not just about seeing patients; it's about effective time management.Engagement is crucial for productivity; practitioners must feel connected to their work.Setting clear expectations during induction can improve productivity.The shift to salary models has changed how practitioners view their productivity.Practice owners need to create a culture that encourages productivity and engagement.Structured planning and clear objectives can help manage productivity effectively.Feedback from colleagues can help measure engagement and productivity.Practitioners should be encouraged to take on responsibilities beyond patient care.Adapting to generational changes in expectations is essential for practice success.Creating opportunities for professional development can enhance engagement. Chapters00:00 Introduction to Healthcare Business Thrivecast01:10 The Importance of Productivity in Healthcare03:58 Engagement vs. Productivity: A Generational Perspective08:03 Salary vs. Commission: Shifting Payment Models10:43 Incentivising Productivity in a Salary-Based Model14:21 Delegation and Responsibility in Practice Management17:57 The Role of Planning in Enhancing Productivity22:26 Measuring Engagement and Productivity25:07 Key Takeaways and Tips for PractitionersInstagram@hcbthrivecast

SummaryIn this episode of the Healthcare Business Thrivecast, hosts Randall Cooper, Michael Kenihan, and Antony Hirst discuss the essential considerations for healthcare professionals contemplating the start of their practice. They explore philosophical questions, motivations, risk assessment, personality traits, and the importance of mentorship and business acumen. The conversation emphasises the need for preparation, understanding the realities of business ownership, and the common misconceptions that can mislead aspiring entrepreneurs in the healthcare field.TakeawaysStarting a practice requires both philosophical and practical considerations.Understanding your motivations is crucial before starting a business.Assessing risk appetite is essential for potential business owners.Timing is essential; there's rarely a perfect moment to start a business.Personality traits can significantly impact business success.Having a support system or mentor is critical for new business owners.Business acumen is as important as clinical skills for success.Continuous learning and preparation are necessary for aspiring business owners.Identifying suitable candidates for business ownership is key to success.Chapters00:00 Introduction to the Thrivecast01:05 Starting Your Own Practice: Initial Thoughts03:58 Philosophical Considerations of Business06:35 Assessing Suitability for Business Ownership09:35 Understanding Risk and Career Progression12:03 The Importance of Resilience and Support16:03 Legacy and Motivation in Business17:34 Upskilling Beyond Clinical Training20:28 Business Planning and Strategy25:04 Identifying the Right Candidates for Business28:37 Common Misconceptions About Business Ownership30:27 Practical Steps to Start a PracticeInstagram@hcbthrivecast

SummaryIn this episode of the Healthcare Business Thrivecast, Randall Cooper, Michael Kenihan, and Antony Hirst discuss the evolving landscape of healthcare, focusing on the importance of selling care rather than just appointments. They explore the impact of AI on healthcare delivery, the shift towards a package of care models, and the successful business model of Kieser in rehabilitation. The conversation emphasises the need for clinics to adapt to these changes and implement effective care packages to enhance patient outcomes and business sustainability.TakeawaysSelling care, not just appointments, is crucial.Artificial intelligence (AI) is transforming how patients access healthcare information.Episodic care models may become less relevant.Patients are willing to pay for outcomes and effective care.Kieser exemplifies a successful package of care model.Membership models can provide stability for clinics.Building an experience is key to patient satisfaction.Clinics should market themselves as safe and expert-led.Ongoing care is more valuable than isolated appointments.The healthcare industry must adapt to changing patient needs.Chapters00:00 Introduction to Healthcare Business Thrivecast01:15 The Value of Membership in Healthcare04:23 AI's Impact on Healthcare Delivery11:09 The Shift Towards Package of Care Models17:40 Kieser's Successful Membership Model25:06 Implementing Packages of Care in ClinicsInstagram@hcbthrivecast

SummaryIn this episode of the Healthcare Business Thrivecast, hosts Randall Cooper, Michael Kenihan, and Antony Hirst discuss the essential strategies for attracting, training, and retaining talent in the healthcare sector. They emphasise the importance of creating a positive workplace culture, effective induction programs, and ongoing mentorship to ensure practitioners feel valued and engaged. The conversation also explores the importance of career progression and succession planning in fostering long-term success in healthcare practices.TakeawaysAttracting the right individuals is crucial for achieving success in healthcare.Good medicine is fundamentally about good people.Induction programs should be comprehensive and engaging.Mentoring is crucial to the development of practitioners' careers.Retention strategies must focus on providing opportunities for growth.Performance management should focus on improvement, rather than punishment.Creating a positive workplace culture attracts talent.Career progression is essential for retaining skilled practitioners.Succession planning is vital for the future of healthcare practices.Continuous recruitment should be a priority for healthcare businesses.Chapters00:00 Introduction to Healthcare Business Thrivecast01:49 Attracting the Right People in Healthcare05:48 The Importance of Induction and Integration11:49 Training, Teaching, and Mentoring Staff18:02 Retention Strategies in Healthcare Practices23:29 Succession Planning and Career DevelopmentInstagram@hcbthrivecast

SummaryIn this episode of the Healthcare Business Thrivecast, hosts Randall Cooper, Michael Kenihan, and Antony Hirst explore the crucial role of customer experience in healthcare. They discuss how clinics can enhance patient interactions from the first point of contact through to follow-up care. The conversation emphasises the importance of balancing clinical ability with exceptional customer service and how a well-rounded approach can lead to thriving practices. The hosts share personal anecdotes and insights on creating memorable experiences for patients, the importance of training staff, and the necessity of consistency in service delivery.TakeawaysCustomer experience is as important as clinical ability.Patients judge their experience based on more than just the treatment itself.The journey of customer experience starts before the patient arrives.Creating a welcoming environment can enhance patient satisfaction.Training staff in customer service is crucial for practice success.Consistency in service delivery builds trust with patients.Feedback from patients can guide improvements in service.A memorable experience can lead to patient loyalty.Investing in customer experience can yield financial returns.Understanding the benefits of features is key to effective service.Chapters00:00 Introduction to Healthcare Business Thrivecast00:48 The Importance of Customer Experience06:15 The Three C's of Clinic Success10:54 Understanding Customer Experience Beyond the Clinic13:35 Training for Front of House Staff18:23 Creating a Welcoming Environment24:05 Balancing Fit-Out Costs with Customer Experience28:01 Consistency in Customer ExperienceInstagram@hcbthrivecast

SummaryIn this episode of the Healthcare Business Thrivecast, hosts Randall Cooper, Anthony Hurst, and Michael Kenihan discuss the critical importance of continuing education for healthcare professionals, particularly physiotherapists. They explore the various forms of education available, the overwhelming amount of research and information, and the barriers that practitioners face in pursuing professional development. The conversation also touches on the return on investment for continuing education, effective strategies for professional development, and the role of social media in learning for new graduates. The episode emphasizes the need for a culture of continuous learning and the importance of trust in educational resources.TakeawaysContinuing education is vital for career growth in healthcare.The volume of research can overwhelm practitioners.Guidance on what to read is essential for young clinicians.Trust in educational platforms is crucial for effective learning.Self-responsibility for ongoing professional development is necessary.Barriers to education include financial constraints and time limitations.Interactive and varied learning methods enhance professional development.E-learning can be as effective as traditional face-to-face education.A culture of continuous learning benefits both clinics and individuals.Social media can supplement learning but should not replace quality education.Chapters00:00 Introduction to Healthcare Business Thrivecast02:14 The Importance of Continuing Education for Physiotherapists10:49 Understanding Barriers to Professional Development18:35 Evaluating the Return on Investment in Continuing Education20:48 Effective Professional Development Strategies28:53 The Role of Social Media in Learning for New GraduatesInstagram@hcbthrivecast

SummaryIn this episode of the Healthcare Business Thrivecast, hosts Randall Cooper, Michael Kenihan, and Antony Hurst delve into the critical topic of practice culture in healthcare. They discuss the importance of fostering a positive culture, the role of leadership, and the need for empowerment and growth among staff. The conversation highlights the balance between efficiency and effectiveness, the characteristics of a supportive work environment, and the alignment of values with daily practices. The episode concludes with actionable tips for creating a thriving culture in healthcare settings.TakeawaysA great practice culture is essential for success in healthcare.Culture influences patient care and staff retention.Leadership style significantly impacts practice culture.Empowerment and growth opportunities enhance staff satisfaction.Effective communication is key to a positive culture.Celebrating staff achievements fosters a supportive environment.Efficiency should not compromise effective patient interactions.Creating a sense of belonging is crucial for staff morale.Values must be lived, not just displayed on walls.Continuous professional development is vital for staff engagement.Chapters00:00 Introduction to Healthcare Business Thrivecast01:01 The Importance of Practice Culture03:59 Defining and Understanding Culture05:13 Building a Positive Culture09:46 Empowered Work Environment16:12 Characteristics of a Thriving Practice25:17 Aligning Values with Practice Culture27:50 Key Takeaways for Practice OwnersInstagram@hcbthrivecast

In this episode of the Healthcare Business Thrivecast, hosts Randall Cooper, Michael Kenahan, and Antony Hirst discuss the critical issue of pricing and the undervaluation of physiotherapy services. They explore the importance of recognising the value of expertise, the need for tiered fee structures, and the impact of financial literacy on career sustainability. The conversation also touches on the future of physiotherapy in light of technological advancements and the necessity of attracting new talent to the profession.TakeawaysThe physiotherapy profession is currently undervalued, affecting sustainability and patient outcomes.Recognising and asserting the value of physiotherapy services is crucial for the profession's future.Tiered fee structures can help reflect the varying levels of expertise among practitioners.Financial literacy among physiotherapists is generally poor, impacting their ability to set appropriate fees.The relationship between pricing and perceived value is significant in attracting clients.Technological advancements may change the way physiotherapy services are delivered in the future.Physiotherapists need to be proactive in discussing their fees and value with patients.The cost of education is increasing, leading to higher debt for new graduates.Practices should consider their fee structures to attract and retain talent.Maintaining a professional image and environment can justify higher fees.Chapters00:00 Introduction to the Healthcare Business Thrivecast01:27 The Price of Expertise in Physiotherapy05:11 Undervaluing the Profession10:32 The Need for Tiered Pricing Structures15:21 The Impact of Time on Fees20:48 The Future of Physiotherapy and Technology30:04 Conclusion and Call to ActionInstagram@hcbthrivecast

In this episode of the Healthcare Business Thrivecast, hosts Randall Cooper, Michael Kenahan, and Anthony Hurst discuss the often-overlooked topic of retail sales in allied health clinics. They explore the ethical considerations, the importance of patient care, and how retail can enhance patient loyalty and clinic revenue. The conversation delves into building trust with patients, effective sales techniques, operational concerns, and the significance of product range and pricing strategies. The hosts emphasize that retail sales, when done correctly, can significantly contribute to a clinic's revenue while providing better care for patients.TakeawaysRetail sales can enhance patient care and clinic revenue.Clinics should offer products relevant to patient needs.Building trust with patients is essential for successful retail.Practitioners often feel uncomfortable with selling products.Retail sales should be approached ethically and professionally.Convenience is a key factor for patients when purchasing products.Understanding retail pricing is crucial for practitioners.A well-curated product range can improve patient experience.Operational concerns about inventory can be managed effectively.Retail sales can contribute significantly to a clinic's bottom line.Sound Bites"You need to develop trust with the patient.""Trust is crucial for making product recommendations.""If you do retail sales, you've got to do it properly."Chapters00:00 Introduction to Retail in Allied Health Clinics02:22 The Importance of Patient-Centric Retail06:36 Building Trust and Understanding Retail10:33 Visual Merchandising and Patient Experience16:47 Operational Concerns and Inventory Management19:27 Pricing Strategies and Markup Considerations21:01 Competitive Pricing and Differentiation23:08 Product Range and Clinical Relevance25:37 The Future of Retail in Allied Health27:37 The Financial Benefits of Retail SalesInstagram@hcbthrivecast

In this episode of the Healthcare Business Thrivecast, hosts Randall Cooper, Michael Kenahan, and Antony Hurst delve into the importance of metrics in healthcare, focusing on Key Performance Indicators (KPIs) and their role in improving practice management and patient outcomes. The discussion covers the distinction between qualitative and quantitative measures, common misconceptions about KPIs, and the significance of availability in practice. The hosts emphasize the need for meaningful metrics that are relevant to the business and the importance of sharing these metrics with staff to foster accountability and improvement. They also explore the role of technology in managing data and the common pitfalls to avoid when implementing KPIs. The episode concludes with final thoughts on the importance of involving staff in the KPI process and ensuring that metrics are fit for purpose.TakeawaysMetrics are essential for successful healthcare practices.KPIs should be relevant and actionable for the business.Qualitative measures are as important as quantitative ones.More data does not necessarily lead to better insights.Availability of practitioners affects patient bookings.KPIs can improve patient outcomes and practice sustainability.Staff performance can be objectively assessed using KPIs.Leading measures are more effective than lagging ones.Technology can streamline data management and reporting.Involving staff in the KPI process fosters a positive culture. Sound Bites"More data is not always better.""KPIs keep you accountable.""What gets measured gets done."Chapters00:00 Introduction to Metrics in Healthcare01:14 The Importance of Data-Driven Healthcare03:57 Qualitative vs Quantitative Measures06:56 Misconceptions About KPIs08:29 Key Performance Indicators Explained11:01 The Role of Availability in Practice Growth12:56 Using Data to Improve Patient Outcomes14:29 Induction and Understanding KPIs17:19 Meaningful KPIs and Their Implementation19:17 Leading vs Lagging Measures20:50 Sharing KPIs with Staff23:54 Engaging Staff with KPIs26:05 Technology and Data Management28:32 Closing Thoughts on KPIsInstagram@hcbthrivecast

Summary:In this episode of the Healthcare Business Thrivecast, hosts Randall Cooper, Michael Kenahan, and Anthony Hirst discuss the critical issues of underservicing and over-servicing in healthcare. They explore the cultural perspectives that influence how health professionals approach patient care, the importance of setting patient goals, and the role of care packages in delivering effective treatment. The conversation also touches on the need for statistical analysis in practice, the evolving market trends in healthcare, and the relationship between insurance and care packages. The episode concludes with a discussion on evidence-based practice and the implications of over-servicing on patient trust and the healthcare system.TakeawaysUnderservicing can be as unethical as over-servicing.Practitioners need to adapt their service delivery over time.Patients often desire the best level of care available.Cultural perspectives influence how healthcare is delivered.Setting clear patient goals can improve treatment outcomes.Packages of care can enhance patient engagement and satisfaction.Statistical analysis can inform better practice management.The healthcare market is evolving towards more comprehensive care packages.Insurance companies are beginning to adapt to package care models.Over-servicing can damage trust in the healthcare system.Chapters00:00 Introduction to Healthcare Business Thrivecast00:55 Understanding Underservicing and Overservicing03:08 Cultural and Educational Influences on Care06:17 The Importance of Patient Goals and Expectations10:08 Statistical Analysis in Practice Management14:06 The Evolution of Packages of Care17:42 Market Trends and Adaptation in Healthcare20:38 Evidence-Based Practice and Patient Care26:04 Over-servicing: Risks and ConsequencesInstagram@hcbthrivecast

In this episode of the Healthcare Business Thrivecast, hosts Randall Cooper, Michael Kenihan, and Antony Hirst discuss the evolving concept of personal branding in the healthcare sector. They explore the significance of trust, recognition, and differentiation in building a personal brand, especially for young practitioners. The conversation delves into the importance of interpersonal skills, professional relationships, and the impact of digital presence and social media on personal branding. The hosts emphasise the need for authenticity and the value of investing in professional development to enhance one's brand.TakeawaysPersonal branding is increasingly important in healthcare.Trust and recognition are key components of a strong brand.Punctuality and care can differentiate practitioners.Young professionals can build a brand without extensive experience.Interpersonal skills significantly influence patient outcomes.Authenticity is essential for effective personal branding.A professional online presence enhances credibility.Social media can be beneficial but requires careful management.Investing in quality branding resources pays off.Word of mouth remains the most effective marketing strategy.TitlesBuilding Your Personal Brand in HealthcareThe Power of Trust in Healthcare BrandingSound Bites"Punctuality can be a key differentiator.""Your online presence is super important.""Invest in quality professional care."Chapters00:00 The Importance of Personal Branding11:07 Non-Clinical Skills in Patient Care20:18 Differentiating in a Crowded Marketplace23:56 Leveraging Social Media for Branding29:20 Targeting the Ideal Patient

Growth can be transformative for a healthcare business, but it comes with challenges—especially when ownership is concentrated in one person. In this episode, Michael Kenihan, Antony Hirst, and Randall Cooper explore how equity partnerships can help expand services, increase retention, and future-proof your practice. We discuss choosing the right partners, structuring agreements, and avoiding common misconceptions about equity. Whether you're a practice owner or practitioner considering ownership, this episode provides valuable insights into sustainable business growth and long-term success.