Rob highlights the importance of digital infrastructure, including online marketing and patient acquisition, to enhance a practice's appeal. He compares this to real estate, stressing the need to address operational weaknesses and make strategic investments, similar to renovating a house before selling.
Rob introduces SovDoc as a "river guide," helping physicians implement the right financial and digital infrastructure for successful practice exits. He explains how practice value is calculated by multiplying EBITDA by the exit multiple, with remaining equity divided among physician owners after debt.
The episode underscores SovDoc's mission to empower physicians as "sovereign doctors," providing resources and strategies to succeed as entrepreneurs in private practice and improve patient outcomes. Rob also previews future topics like private equity, artificial intelligence in healthcare, and their intersections.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Introduction. Welcome and overview by Rob Greer
01:28 - Understanding EBITDA. What is EBITDA and why it matters
05:46 - Managing for EBITDA. Optimizing practice operations
10:35 - Improving Revenue. Increasing revenue and efficiency
17:00 - Customer Acquisition. CAC and LTV explained
18:03 - Digital Marketing. SEO, Google, social media, and ads
21:10 - Content for SEO. Blogs, newsletters, and podcasts
25:44 - Reducing Expenses. Cutting costs and improving efficiency
28:25 - Investing in Human Capital. Importance of skilled staff
41:51 - Private Equity and Sales. Trends and strategies for practice value
45:04 - Conclusion. Summary and future topics
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