The Sovereign Doctor Podcast

Scaling Your Practice: Expansion Strategies for Sovereign Doctors to Increase Their Reach

In this episode, Rob Greer delves into the art and science of scaling medical practices to enhance the reach and impact of sovereign doctors. Rob emphasizes the importance of developing a clear vision and growth plan, highlighting key areas such as target markets, service mix, team structure, and technology infrastructure.
Rob discusses the critical role of building a strong foundation through a cohesive team and streamlined operations. He advises creating a "Rockstar Team" that shares core values and excels in their roles, as well as establishing efficient processes and clear accountabilities to manage the growing complexity of a scaling practice.
The episode explores the transformative power of technology and innovation, urging practices to strategically deploy digital tools to solve specific problems and enhance capabilities. Rob advises taking stock of current tech stacks, identifying gaps, and carefully selecting solutions that integrate seamlessly and support scalable growth.
Rob also highlights the value of strategic partnerships and expert guidance in accelerating growth and navigating challenges. He introduces SovDoc as a trusted partner offering tailored support and resources to physician entrepreneurs, helping them achieve their vision with clarity and confidence.
The episode underscores the ongoing nature of scaling a practice, encouraging a mindset of continuous improvement and strategic planning. Rob challenges listeners to reflect on their growth journey, identify bottlenecks, and seek the necessary support to advance their practice's success.
 
IN THIS EPISODE YOU’LL LEARN:
00:00 - Introduction and Overview00:20 - Defining Scaling01:30 - Developing a Clear Vision and Growth Plan03:00 - Building a Rockstar Team05:00 - Streamlining and Systematizing Operations07:00 - Leveraging Technology and Innovation09:00 - Strategic Partnerships and Expert Guidance11:00 - SovDoc's Role and Support12:00 - Key Takeaways and Challenge12:30 - Conclusion and Future Topics
 
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Understanding Private Equity in Healthcare

In this episode, Rob Greer dives into the realm of private equity, focusing on its impact on healthcare. He explains the origins and evolution of private equity, emphasizing the importance of understanding these investment firms when considering the sale of a medical practice. Rob discusses the role of diversification, with a mix of specialties and revenue streams, in enhancing the value of a practice.
Rob highlights the significance of building a strong digital infrastructure, including online marketing and patient acquisition strategies, to increase a practice’s appeal to private equity buyers. He introduces SovDoc as a strategic partner that guides physicians in implementing the necessary financial and digital frameworks for successful exits.
The episode also covers key financial concepts such as EBITDA and exit multiples, detailing how they contribute to practice valuation. Rob underscores SovDoc’s mission to empower physicians as "sovereign doctors," providing them with the knowledge and tools to thrive as entrepreneurs while improving patient care.
IN THIS EPISODE YOU’LL LEARN:00:00 - Welcome and overview by Rob Greer02:03 - Introduction to Private Equity. What is private equity?02:33 - History and Evolution. Origin and rise of private equity03:10 - Types of Private Equity Firms. Generalist vs. specialist firms04:06 - Focus on Healthcare. Significance of healthcare private equity05:12 - Sectors in Healthcare PE. Different sectors within healthcare private equity06:13 - Importance of Healthcare PE. Impact on the healthcare system06:50 - Strategic and Operational Value. Role of private equity firms08:07 - Key Terms. Limited Partners (LP) vs. General Partners (GP)10:20 - The "2 and 20" Model. Understanding fees and profits in private equity11:12 - Rollover Equity. Explanation and importance for physicians12:15 - Impact on Healthcare Practices. Private equity's effect on practices13:27 - Advice for Physicians. Navigating private equity as a physician14:15 - Summary and Closing Remarks
 
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Or visit our website:
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The Two Drivers of Practice Value

In this episode, Rob Greer shares strategies for optimizing medical practices to maximize value for potential buyers, especially private equity firms. He emphasizes diversification through a mix of specialties, procedures, locations, and revenue streams.
 
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
 
NEW TO THE SHOW?Follow our official social media accounts:
Instagram | LinkedIn
Or visit our website:
www.sovdoc.com

Trailer: Welcome to The Sovereign Doctor Podcast

With expertise in acquiring, growing, and selling medical practices, host Rob Greer empowers physicians to navigate independent practice ownership.
Join Rob weekly as he explores the intricacies of the medical business, from financial optimization to technological innovation.
Gain actionable insights to achieve your goals, whether you're a seasoned practice owner or a new entrepreneur.
Subscribe now to master the business of medicine.