January 13, 2025 • 32 mins
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Imagine transforming your payroll from a liability into a profit powerhouse.
Sounds too good to be true, right?
But it’s possible! In this episode, I’ll walk you through my proven strategy for optimizing your team to drive profitability in 3 simple steps. From defining revenue-generating activities to implementing accountability systems, you'll learn actionable steps to tap into your practice's full potential. All while unburdening yourself!
Ready to level up your practice?
Tune in and activate your team today!
P.S. Join the Profitable Private Practice Movement NOW: http://www.entremd.com/movement
—
Key Takeaways:
- 00:00 Intro
- 00:44 The profitable team
- 02:15 The consequences of not activating your team
- 06:18 Defining revenue-generating activities (RGAs)
- 14:12 Training your team on the RGAs
- 21:44 The gift of accountability
- 25:19 Recap
- 29:19 Outro
Additional Resources:
- Learn more about my 12-month program.
- Interested in 1-on-1 coaching? Apply here.
- Grab a copy of the "The EntreMD Method" book.
When you are ready to work with us, here are three ways:
- EntreMD Business School Accelerator - If you are looking to make a 180 turnaround in your business in 90 days, this is the program for you.
- EntreMD Business School Grow - This is our year-long program with a track record of producing physician entrepreneurs who are building 6, 7 and 7+ figure businesses. They do this while building their dream lives!
- EntreMD Business School Scale - This is our high-level mastermind for physicians who have crossed the seven figure milestone and want to build their businesses to be well oiled machines that can run without them.
To get on a call with my team to determine your next best step, go here ...
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
You will burn out.
You will get to a point whereyour practice grows and you want
to throw it away.
I have met people who runpractices doing $3 million, $5
million, all that but becausethey're the only ones
responsible for the ideas andthe revenue creation and bearing
the weight of it at all,they're like I just want it to
stop.
There's so many practices thatgo out of business because the
(00:21):
owner is the only person drivingit.
Speaker 2 (00:24):
I grow out of business because the owner is
the only person driving Hi docs.
Welcome to the EntreMD podcast,where it's all about helping
amazing physicians just like youembrace entrepreneurship so you
can have the freedom to livelife and practice medicine on
your terms.
I'm your host, dr Una.
Speaker 1 (00:50):
Today is going to be the day that you know the things
you've looked at.
They create results, but nowwe're talking about multiplied
results, because this is not.
This is about you, in a way,but this is about unlocking the
power of your team, and we talkabout a profitable team.
A profitable team is a teamthat understands how to create
profit.
Profitable team A profitableteam is a team that understands
how to create profit.
They understand how to affectthe bottom line.
Okay, when there's slow times,your people come with a lot of
(01:12):
non revenue generatingactivities to do.
They're like, oh, we're goingto do spring cleaning and we're
going to take care of all thosefaxes and stuff like that.
Or you're afraid of hiring newteam members because the last
three hires that you hiredactually led to less profits.
Like, your payroll ballooned,but your revenue did not balloon
(01:33):
as well, right.
And you're like, oh, mygoodness, I cannot afford to
hire people because it's soexpensive.
So your payroll is not aninvestment.
Your payroll does not lead tomultiplied impact, multiplied
profits, multiplied time off.
It leads to more work, morepayroll, more headaches.
Right Now, what I'm talkingabout is not something that I
(01:54):
have not done.
I've done this in my companiesI have, you know, our clients
are doing these things.
I'm going to show you, I'mgoing to share some of their
stories with you.
So these are things that canhappen.
I just want you to kind of liftup your expectations like, oh
my goodness, I could have that.
Okay, let us look at activatingour teams for profit.
Okay, what happens when wedon't do this?
(02:17):
When we don't do this, ourimpact is limited.
There's so many things you'regoing to want to do in your
practice and you're not going tobe able to do it because you
won't have the bandwidth.
What gives you bandwidth?
Your team, okay.
There's revenue that you cannotcreate.
Because you cannot create thatrevenue on your own, you need
your team.
Okay, you need a team, and sothe opportunity cost is that
(02:38):
you're limited in how muchrevenue you can create.
The third, and probably the mostsignificant, is if you don't
figure out the team thing, youwill burn out.
You're one human, and burnoutin an employed position is bad
Burnout.
When you created a practice andcreated your own burnout by
your own self, that's really bad, right, and so you will burn
(02:58):
out.
You will get to a point whereyour practice grows.
It gets to that place that youthought was the dream and you
want to throw it away.
I have met people who runpractices doing 3 million, 5
million, all that but becausethey're the only ones
responsible for the ideas andthe revenue creation and bearing
the weight of it at all,they're like I just want it to
(03:19):
stop.
I'm like can some privateequity person come get this
thing off my plate?
They do nothing to grow.
They do things to sabotage thepractice because on the inside,
they know that if this growsanymore, all it means is more
work for me, more headaches,less profit, but I'm paying
everybody.
My payroll is ballooning, butI'm paying myself left.
I don't want it.
So there's so many practicesthat go out of business because
(03:43):
the owner is the only persondriving it.
It is something that's nottalked about a lot, but it is a
huge reason.
It's a huge reason, okay.
So it is crucial that youunderstand this, so it doesn't
put you in a position where youburn out.
But what happens is you buyyour time back.
Okay, you buy your time back.
You have time to do the thingsthat matter to you.
(04:05):
You have time for yourself, youhave time to breathe, you have
time to think.
I've talked to so many doctorsand they're like I'm just
drowning in my practice.
I don't even have time to thinkbecause I'm the only one here,
I'm the only one putting outfires, I'm the only one doing
everything it would be.
It is so beautiful.
My private practice.
I'm not telling you somethingthat cannot be done.
(04:26):
Okay, I don't necessarily teachconcepts that are just cool and
interesting.
I teach things that I think arecool and interesting and I've
done and I've helped otherpeople do.
There's only one thing thatI've done.
I practiced for a short periodof time and I talked about it
and I told the people when I wassharing.
I was like look, the results ofthis are just too wild.
I'm sorry we need to talk aboutthis now, but otherwise I test
(04:49):
things.
Okay, my practice has been apractice doing over a million
for years.
Okay, for the last three years,this million dollar practice, I
have not set foot in it becauseI've built the team I'm trying
to tell you about.
I'm trying to tell you aboutNow, everybody, at the end of
the day, you're going to want toexit your practice one way or
another.
We're all because some peopleare like no, I just want to do
this forever?
(05:09):
You can't For one.
You're going to leave theplanet.
Okay, at some point you'regoing to leave the planet, so
you're either going to shut itdown, you're going to pass it on
to your family, way or another.
If you do not have a team, youhave a practice that may be
worthless and please understandI say this with respect I'm
trying to explain something toyou the opportunity cost of not
(05:31):
figuring this out.
Because if you have a practiceand you are responsible for
everything, you have a job.
You built a job for yourself.
If somebody wants to buy it,they have no evidence that it
will work without you, and soeven if they did buy it, they
would buy it for peanuts.
If you did have a team, thevalue is so much higher.
(05:53):
So when you hear people say adoctor, a private practice is
not worth anything just by thecharts, that's why they say that
.
But if you have a practice thatis team-led and you're not
going to get there in twoseconds, it's a process.
But if you have one that'steam-led, there is evidence that
it works without you Then nowwe're talking.
So I'm going to give you threethings.
Okay, they're very simple,they're very powerful.
(06:14):
If you do them, they will rockyour world.
Okay, all right, number one.
Number one you're going todefine the RGAs
revenue-generating activities.
You're going to define the RGAsrevenue generating activities.
You're going to define therevenue generating activities
for each role in your company.
There's nothing like this iswhat front desk people do, or
(06:38):
this is what medical assistantsdo, or this is what billers do.
That's fine, but you are goingto define what is the RGA for
each position.
So it is crystal clear to youhow each role creates revenue.
Because this is what and I'llspeak from my own experience
right, you hire front desk.
You're like, oh, the people inthe front, the girls in the
(06:59):
front, right, what do they do?
Oh, they greet the patients,they check people in.
They do that.
As long as you think like that,just so that, if you think like
that, you're throwing awaymoney, just so that, if you
think like that, your team isnot carrying any weight, because
they, what do they do?
They greet the patient, hi,welcome, welcome to IPD
Pediatrics, right, and then theycheck them in.
That's it, it.
(07:27):
So we have to understand.
Okay, fine, this is some ofwhat they do.
But how does this role createrevenue?
Why is this important?
Why did you start the practice?
To help a lot of people and tocreate revenue right, like we
have?
It's a win-win situation.
So you take care of them, theytake care of you, period.
That's the way it works, okay.
Now, when you bring on teammembers, the team members don't
come to just do random things.
They come to help you do thosetwo things to take care of
(07:48):
people and create revenue.
If you can get this concept, itchanges everything for you.
You are there to help peopleand create revenue.
When you hire team members,they're not there to do random
things.
They're not there to do themost urgent thing.
They're not there to do thethings that oh, you know,
patients are complaining aboutthis.
Let's hire somebody to do this.
Great, they're going to serveand earn.
(08:08):
Once you can get that equationtogether, then you have
unleashed the profit creatingability of every member of your
team, and that is pure magic.
Okay, so I'm going to define.
I'm going to give you examples,because I don't want this to be
in the sky.
I don't want you, don't wantanybody to get lost, so hear me
out.
You have a front desk person,okay, so maybe their revenue.
(08:32):
I'm going to give you anexample like one.
Each kind of okay Maybe theirrevenue generating activity is
collecting all your co-pays anddeductibles and making sure that
every insurance company, every,every insurance that people
come with, they're eligible,it's active.
If you think about that, if theinsurance is not active, you do
not get paid for the visit.
It doesn't matter how nice thevisit was it was like, from a
(08:53):
financial standpoint it was awaste.
So if they don't do that,nothing's happening.
They're not collecting thedeductibles, you're not getting
paid.
Do you see what I'm saying?
Because, yes, you're going tobill it to the insurance when
the insurance company is goingto tell you, great, so collect
$150 from that person, like youdidn't collect it right, so
they're collecting the co-pays,collecting the deductibles.
Then they're making sure theinsurances are active.
(09:15):
Guess what?
They're creating revenue.
If they understand, this is myrole.
This is something that I'mresponsible for.
If you are aware, this is thepart of the revenue generation
in this practice that thisperson is responsible for, that
you're in a position wherethey're checking them in,
they're smiling at them, they'redoing all of that and bringing
(09:36):
in revenue.
You need both Now.
Maybe it's a front desk person,but you're a cash-based
practice.
A lot of times I see where thedoctors are the only people who
do those meet and greet calls.
Your front desk person can dothat.
You can train them to do thatand people will say no, I'm the
only one Excuse you.
There are companies wherepeople sell $50,000 products.
(09:59):
It is not the owner sellingthose products, it's the people
on the team.
So you can train your person todo those calls and enroll
people in your practice.
I want you to think about howmuch peace and quiet, how much
freedom you have if you're notthe only person who has to do
these calls.
Just think about it, right?
So if that person, for every 10calls, let's say they're not
(10:20):
even that good.
If every 10 calls, one personsays yes, or every 10 calls, two
people say yes, right, thenthey can have a metric.
Like you know, this is thenumber of people I enroll every
month.
Then it goes from this thing ofwhere people yeah, hello, yeah,
yeah, I'm trying to take careof that.
They don't do that because theyunderstand I close people into,
I enroll people, I enrollpeople into the membership.
(10:40):
The way they show up, the waythey do.
Everything changes.
But it doesn't start with them,knowing that's our job as the
CEOs.
Okay, we have to know.
So this person serves.
I know how they help the patient, but how do they earn?
How do they create revenue?
It may be your medicalassistant.
For the medical assistant, itmay be a simple.
This is what we did in ourpractice everybody who comes in
for an appointment leaves withtheir next appointment.
(11:02):
So think about it.
If you have 20 patients on yourschedule and of course some
people are, no matter what youdo, they're not going to
schedule that appointment.
But what if, for every 20, youhave 17 that's scheduled?
That means your MA is creating17 new appointments every day.
Cha-ching, cha-ching, cha-ching.
Right, your schedule stays fullbecause every appointment is
(11:25):
creating more appointments.
They understand this is my role.
This is how that createsrevenue.
Maybe for you it's more so thatthey free up your time so that
maybe without them you would see10 patients.
With them you can see 15patients.
So they free up your time soyou can generate more revenue.
Do you see what I'm saying?
Just think how does this rolecreate revenue?
(11:48):
Because if they're only servingthe clients and they're not
creating any revenue, that'sdead weight, that's heavy,
that's going to hurt when yousee your payroll, you break out
in hives.
Okay.
Okay, you're a biller, right?
We talked a lot about, you know, ar and all of that stuff
yesterday.
But how do they create revenue?
Right Is that they take allthese claims, which are little
(12:10):
numbers, and then send them tothe insurance company to make
sure that you get paid and allof that Great.
And so you have their metrics.
If their metrics are like this,then they're bringing in
revenue.
Right, and I'll pause here andsay, like you see that your
front desk person touches almostall the revenue that comes in.
Your biller also touches almostall the revenue.
So we got to know how theycreate revenue and we have to
(12:33):
hold them accountable.
We have to have meetings withthem.
We have to do all these thingsbecause that's how the revenue
is Okay.
Okay, your office manager.
If you have an office manager,whatever your goals are for the
year, that's the way your officemanager creates revenue.
Those become that person'sgoals, him or her.
So if your goal is, you know,this year we want to bring 2
(12:55):
million in revenue, you'vereverse engineered it.
That means we need to see thisnumber of patients.
That becomes your officemanager's goal.
Like, you cannot have an officemanager that has no idea what
your vision is, because thatperson cannot help you to create
revenue, because there areoffice managers who think that
their job is to work theschedule of everyone that is
(13:15):
there and put off hires.
What a waste of an officemanager.
They can bring so much value,but you got to define it.
So, for instance and I thinkwhen I get to metrics I'll break
down the office manager oneI'll break down that one for you
, okay, but whatever your goalsare for the year, those become
the goals of your office manager, right, because they're there.
(13:36):
As a practice owner, you havethree hats there's you the
clinician, there's you themanager, there's you the
entrepreneur.
When you bring up an officemanager, you need to be able to
get rid of you the manager.
That's the point.
You brought them in to take allthis stuff.
You did put it on a person.
Just let the person do theirthing.
If you don't define it, youwill waste the potential of the
(13:59):
people you work with.
You just waste it.
So you're paying them a ton andyou're not getting a ton of ROI
, but from today we're going toget a ton of ROI, okay.
So that's number one, numberone you have to define the RGAs
for each role in your company.
The second one is you need totrain your team on those RGAs.
(14:22):
Now, there are things that we dowhen we hire people that we
just picked up from wherever.
So we want to hire people whoare just like huh, look one body
that wants to work with me, yay, let's hire this person.
And Like huh, look one bodythat wants to work with me, yay,
let's hire this person.
And then we hire the person.
And then, when we are donehiring the person, we're like oh
, I guess, when we hire somebody, you're supposed to do
onboarding.
So we start showing them alltheir logins, you know, we start
showing them the break room andall this stuff that does not
(14:48):
make things to do anything.
Okay, your onboarding is legit.
These are the things you do toserve our patients in the
highest capacity.
You train them on that.
These are the things you do tocreate revenue.
You train them on that.
That's your onboarding.
Okay, we don't pull it up fromthe internet.
We don't ask what's your?
What do you do for onboarding?
And then you copy and paste.
No, because you may wantsomething completely different
(15:09):
from what they want.
So, as far as the revenue piece,unlocking the profit potential,
the things you defined in thefirst one, defining the RGA you
now train them on how to do thatright.
So you want your fund, that'scollecting your co-pays and all
of that stuff.
You train them on how to dothat.
You train them on the fact thatpatients will come, of course,
(15:31):
and say, oh, I don't have ittoday.
Can you bill me and you empowerthem to go like don't worry
about it, they got it Okay.
If you hold them accountable,it will magically come out.
And I'll give you this examplewhen, in my practice, I used to
bill people for their co-paysuntil I found out like the time
they're really motivated to payyou is when they're right there
(15:52):
before they see you.
That's when they're motivatedto pay Okay.
And so we changed the policy andwe're like nobody comes back to
you know, into the exam roomsuntil they've paid and our
patients will go like but Johnnyhas a fever and I don't, I
don't have it today, he reallyneeds to be seen today.
So we would play them.
We would play the game andwe're like oh, there's an ATM
(16:13):
down the street.
They're like oh no, like Idon't have it.
We're like, okay, well, we canreschedule Johnny, I mean, we
can see him first thing tomorrow.
Every single time a miraclehappened, they will put their
hands into their purse or theirpocket and, magically, money
will appear.
Every single time I was like,well, looky here, they didn't
(16:35):
have money.
No, they have money.
It's a miracle.
It's amazing, right, but you'vegot to train your team on stuff
like that.
You have to train them.
You have to train them aboutthe money drama.
You have to train them on thatstuff, right, but you train them
on how to collect so they canexcel at their revenue
generating activity.
It could be a medical assistantand they're like oh, by the time
I get the vaccines or by thetime I give them the discharge
(16:57):
instruction, they don't want toschedule appointment.
That's okay.
Like for me for all usepediatrics.
You know, when they come for atwo-month checkup, their next
checkup is a four-month checkup.
So while you're doing thevitals, you're like, oh, real
quick, before Dr Una comes in,let's just go ahead and take
care of that four monthappointment and schedule it.
So once you're done and I giveyou your vaccines, you just
leave.
You don't have to wait foranything.
(17:18):
Like who wants to have a babythat just got shot.
So you're standing at the frontdesk to schedule an appointment
they all schedule, but you gotto train them on that stuff.
Do you see what I'm saying?
Like, you train them so theycan win.
You've shown them the basket.
Now you show them how to score.
That's what we're doing here.
So, when it comes to officemanager, let me just pick up
some random metrics here.
So let's say, one of them isyou decide you know, I have a
(17:42):
private practice, we have fourdoctors here.
We want every doctor seeing 20patients a day.
That's my vision for 2025.
Okay, so I'm making this up2025.
And then, in training youroffice manager, you're like okay
, when you see holes in theschedule, these are the seven
things you can do to fill up theschedule, because you may know
(18:04):
the person may not know right.
These are the seven things youcould do.
You can have them hit therecaller.
You could do a social mediathing and say we opened up some
spots to take care of X, y, z.
Call the office.
Now.
You can, you know, pull up allthe people who went to the
urgent care or emergency roomschedule their follow-up
appointments.
You could like.
These are the things you can doso that that way, you've
(18:25):
empowered the person to win,right?
So when it looks like you knowa week from now there's this big
gap in the schedule, they knowwhat to do, they know what to
delegate to the team to do,they're in control, they're in
charge.
So if they're telling you it'san FYI, I looked at the schedule
two weeks from now.
It looks like it's a lotlighter than it usually is.
But these are the things we putin place and all that stuff.
(18:47):
I think we should be fine.
That's what we want.
We want someone who can crushit.
But for you to have that, thosepeople are made they don't just
show up like that.
Somebody empowers them to dothat and that's you from now on.
Okay, let's say another thing isyou want your AR to look a
certain way, right?
You want your accountsreceivable, your aging report.
You want it to look a certainway where 80% or 85% of all the
(19:09):
outstanding balances are thezero to 30 buckets and all your
personal balances are collected.
So you created all this.
You know, you created themetrics.
You have to empower her.
This is how you look at theaging report.
You look at the personal here.
If you see this here, it meansthis If you see this here, it
means that If you see this here,it means this right, what are
(19:31):
you doing?
You're taking your know-how,your IP, your wisdom and you're
installing it into somebody else.
So when you delegate, you'renot just delegating the task,
you're delegating the task,you're delegating the thinking,
you're delegating thetroubleshooting, you're
delegating everything, right,okay?
So let's say you have one ofyour goals is your online
reputation in your community.
You want to be known as thego-to practice.
Same difference you empower theperson, so you tell them.
(19:53):
Every time someone says, oh, mygoodness, you're amazing, right
, then that means ask them for areview.
Or you can say we have reviewdays Every third.
Pick the day that tends to belighter, like you know, less
crazy in your office, you know.
So maybe you're like everyWednesday or every Thursday,
every last Thursday of the monthis review day, and on that day
we go to war.
We ask for 50 reviews from thepeople who love us.
(20:14):
Boom, it's a system that runs.
You've empowered the person soshe can go and crush it.
Okay, so this is the deal,right, you define for each role.
This is the way this rolecreates revenue.
Right After that, you now trainthem.
This is how you excel at thisrole.
This is how you can be a rockstar at this role.
(20:36):
I was reading a book andsomebody said have you wondered
where they get the people thatwork at Disney?
They have a good work ethic,they're very pleasant, they're
very helpful and they're veryyoung.
Some of them are teenagers.
Like, where do they find thesepeople?
Right?
And the person said whereeverybody else finds people?
(20:57):
They just have a differenttraining system.
They're able to take the samepeople everybody else sees and
turn them into the people who dothis Right.
So I want you to think aboutyour company as a human resource
development company, because ifyou do that, you will build the
team that will build thebusiness An absolute win-win.
(21:19):
They will get to get a job, oneof the best jobs.
They'll have, so much personaldevelopment.
They'll be able to look and saythis is where I grew the most
in my career and all of thisstuff level of significance
because of the impact that theyhave right, and you get to have
more impact, you get to havemore time, freedom.
It's just a win, win, win, winsituation.
Okay, all right, so we're done.
(21:40):
Two and two will completelychange your business, but
because we like to overdo it,we'll give you number three,
okay, okay, what's number three?
Number three is give them thegift of accountability.
Accountability is not a badthing.
At my core, when we talk aboutpersonality types, I'm
phlegmatic, which means I willdo anything I need to do to
avoid conflict.
That's my natural bent.
So, talking to people andholding them accountable totally
(22:02):
not my thing.
But you cannot build a greatcompany without accountability.
It's a gift.
So we're going to reframe theway we think about it.
It's not this bad thing.
I'm not being a bad boss.
I'm not micromanaging.
I'm not in people's face.
I'm giving people the gift ofaccountability Because when I
give them the gift ofaccountability, they function at
a much higher level in waysthat they never even thought
possible.
(22:22):
They become versions ofthemselves that they did not
know they could become Right.
And this is the deal.
When you start training peopleto do new things, if you do not
hold them accountable, they willnever do it.
I mean, think about it.
You have learned things as awhole CEO that's rocking it.
You have learned things thatyou don't do because nobody's
held you accountable, meincluded.
(22:43):
I'm not trying Me included.
So it's the same with your team.
They will love you after thefact for giving them the gift of
accountability.
Okay, give them the gift ofaccountability.
So what does that mean?
For every revenue generatingactivity, put a metric behind it
and measure it.
If you have a scheduler and yousay your responsibility is to
(23:07):
make sure these four doctors inmy practice each have 20 people
on the schedule, you put thatmetric there, you meet with the
person In the beginning.
It may be on a weekly basis andyou pull out the numbers Okay,
so it may be on a weekly basisand you pull out the numbers.
Okay, so Tuesday, we had anaverage of you 15.
Wednesday, we had an average of13.
You know, wednesday we had anaverage of 20.
(23:28):
You're like okay, so I know we20, I know we talked about these
things.
So talk to me.
What is the challenge here?
How can I support you?
Because I know you want to winand I know you can do this, and
they're like well, what happenedwas, you know, the lion came
out and the lion said oh mygoodness, if you try to schedule
somebody, I'm going to buy you,and they come up with all this
stuff, right, you allow them tobe great, and then you help them
(23:48):
.
You help them, you coach themthrough it and then you hold
them accountable.
So you're like, okay, great.
So what do you think?
If we did this and did this anddid this, okay, I think that
would work.
Okay, this, you did this thisway.
You can change it and do thisway.
Okay, great.
So we're going to meet againnext Friday and see where we are
.
It's work.
But the thing is this If you doit, you do it for two weeks,
(24:21):
then four weeks, then eightweeks, then 12 weeks.
Then you come up with thisperson who can man your schedule
and only gives you information.
Like we're looking good.
You know, I did see.
You know, week out there's thishole there.
But these are the five thingsthat I put in place and this is
what else I did.
Is there anything else youwould have done?
No, you did what I would havedone Great.
So we're going to watch it.
I'm keeping a close eye on itand we'll see how it turns out.
These are the kind of teammembers we want.
(24:41):
I mean, imagine running apractice where you no longer
think about filling the schedule.
It's not a thought that comesto your mind because you have a
team member doing that.
Imagine running a practicewhere you're not worried about
all the billing going out ofshape and all of that kind of
stuff, because you've put themetrics, you've trained the
people, you've done all thisstuff and they're coming to tell
you oh, we noticed with thisinsurance company, they added
(25:03):
this new code and they starteddenying things and all that.
So it's going to look like thebilling is out of whack, but
it's not.
We've re-sent all the claims,we've talked with the.
It in front of you.
So when you look at the ARreport, you're not wondering
what's happening.
Who would want that?
Like, I'm saying that and Ilove that.
You see what I'm like.
You can unburden, you can takeall this stuff off your plate,
(25:28):
but you got to define what theRGAs are.
You have to define what theyare for each role.
You have to train the team.
This is where the work is.
This is the work that a lot oftimes we don't want to do.
Okay, this is something Istruggled with a lot when I
started off as an entrepreneur.
But you know, it's been 14years, so I'm a little better
now, but in the beginning I waslike I looked at your resume,
(25:50):
you had all this training.
Why do I need to train you?
Because this is the job of aCEO.
The job of a CEO is to buildthe team that builds the
business.
That's your job.
So you train them on the RGAs.
And then the third thing you dois you hold them accountable
Revenue generating activities.
So your RGA is revenuegenerating activities.
So that's one everyone wants tomemorize.
(26:12):
That's a word we use a lot onthe podcast here in the business
school in the movement revenuegenerating activities.
Okay, the third thing is youwant to give them the gift of
accountability, because it iskind of like you learn to drive,
but to become good at driving,you then have to drive right.
So you can train your team onthe RGAs, which is very good,
(26:33):
but when you're done, you givethem the gift of accountability
so they can practice and createresults, practice and create
results, practice and create theresults.
Then they become great at it.
You want them to become mastersat their RGAs, and that mastery
requires putting in the reps.
Okay, and if they do not haveaccountability, they are not
putting in the reps Okay.
When you think about how thisthought process is changing how
(26:56):
you think about your business,your practice and how it's
setting you up for success?
On a scale of one to five, howlikely do you think it is that
if you do these three things,you will end up with a brand new
practice, brand new team, moreimpact, more revenue, more
(27:22):
impact, more revenue, moreprofits.
Your payroll.
You look at it very differently.
You're like my goodness, thisis an investment, this is not an
expense.
So look at the number five outof five, 10 out of five, five
out of five.
I am telling you that for usprivate practice owners.
Telling you that for us privatepractice owners, I know that
there are narratives, okay, Iknow that there are narratives
(27:43):
of oh, your private practice isdead and nothing is working, and
all of that, you already havethe practice.
There are people who have madeit work.
There are people who havecontinued to make it work.
One of the beautiful thingsabout my example is I run a
pediatric practice.
Please hear me.
Okay, please hear me.
We are one of the lowest paidspecialties and my practice is
(28:06):
60% Medicaid and it is a privatepractice that is thriving.
It is a private practice thatsurvives not survives thrives in
the midst of the pandemic.
It is a private practice thatis working.
Even though I'm not physicallyin the building, these concepts
work and the things that I'veshown you will require work, but
there's nothing I've shown youthat's impossible.
(28:27):
There's nothing I've shown youthat cannot be done.
They are simple and you can dothem and they will change your
practice.
Okay, and I'm gonna show yousome stories about some of the
docs who have have pulled thisoff.
This is Jessica.
Jessica is part of TeamEntreeMD.
We love her.
She's absolutely amazing.
She's a strong physician ally.
(28:47):
She says employee perspectiveis so good to be empowered, to
know what it looks like to dowell and to know that our role
is important, and that'ssomething you want to do with
your people.
So this is a bonus.
You can thank Jessica for it.
Right, when you link what theydo to the bottom line, link it
to the outcome and, as you win,you explain how what they're
(29:11):
doing is the reason for the win.
That is nuts.
That is nuts.
It's so good.
It's so good, it's such ahelpful thing that you can do
for your employees, okay, okay.
So if we want to recap realquick, I want you to think.
In the last three days, you'vechanged your business.
You've learned how to fill upyour patient panel, your patient
schedule, right In 90 days orless.
(29:31):
We're not talking in 300 years.
We did that on day one.
Day two, we looked at how toget paid.
How do I get paid for the workthat I'm already doing?
How do I get paid?
Because I will tell you thereare thousands, hundreds of
thousands for some people, sevenfigures of revenue left on the
table, left in the AI right.
And then the third thing is howto unlock your team for profit
(29:52):
creation.
Your payroll is one of yourbiggest expenses.
So let's use accountantlanguage on your profit and loss
statement one of your biggestexpenses, which means you have
to get an ROI on it.
You have to look at every role.
Every role needs to be creatingprofit, otherwise it's dead
(30:13):
weight and you're not thefederal government.
You don't have an unlimitedamount of funds.
You can't just go print moredollars right, and so if it's
dead weight, you either turn itinto an ROI or they gots to go.
How is every role creatingrevenue?
We open a business to servepeople in a profitable way.
(30:33):
That's why we start businesses.
That's what we do.
Every team member that comes onhas one assignment that has two
branches Serve people, createrevenue.
They have to do both.
They have to do both.
Imagine your payroll puttingyou out of business.
That's crazy.
But we don't do that anymorebecause we've learned.
Okay, we are the people who aregoing to define the RTAs right.
(30:57):
We're going to define the RTAsfor everyone.
We're going to train them tobecome masters at those RTAs and
then we're going to give themthe gift of accountability and
watch them thrive in those RTAs.
You will burn out.
You will get to a point whereyour practice grows and you want
to throw it away.
I have met people who runpractices doing $3 million, $5
million, all that but becausethey're the only ones
responsible for the ideas andthe revenue creation and bearing
the weight of it at all,they're like I just want it to
stop.
There's so many practices thatgo out of business because the
(00:21):
owner is the only person drivingit.
Speaker 2 (00:24):
I grow out of business because the owner is
the only person driving Hi docs.
Welcome to the EntreMD podcast,where it's all about helping
amazing physicians just like youembrace entrepreneurship so you
can have the freedom to livelife and practice medicine on
your terms.
I'm your host, dr Una.
Speaker 1 (00:50):
Today is going to be the day that you know the things
you've looked at.
They create results, but nowwe're talking about multiplied
results, because this is not.
This is about you, in a way,but this is about unlocking the
power of your team, and we talkabout a profitable team.
A profitable team is a teamthat understands how to create
profit.
Profitable team A profitableteam is a team that understands
how to create profit.
They understand how to affectthe bottom line.
Okay, when there's slow times,your people come with a lot of
(01:12):
non revenue generatingactivities to do.
They're like, oh, we're goingto do spring cleaning and we're
going to take care of all thosefaxes and stuff like that.
Or you're afraid of hiring newteam members because the last
three hires that you hiredactually led to less profits.
Like, your payroll ballooned,but your revenue did not balloon
(01:33):
as well, right.
And you're like, oh, mygoodness, I cannot afford to
hire people because it's soexpensive.
So your payroll is not aninvestment.
Your payroll does not lead tomultiplied impact, multiplied
profits, multiplied time off.
It leads to more work, morepayroll, more headaches.
Right Now, what I'm talkingabout is not something that I
(01:54):
have not done.
I've done this in my companiesI have, you know, our clients
are doing these things.
I'm going to show you, I'mgoing to share some of their
stories with you.
So these are things that canhappen.
I just want you to kind of liftup your expectations like, oh
my goodness, I could have that.
Okay, let us look at activatingour teams for profit.
Okay, what happens when wedon't do this?
(02:17):
When we don't do this, ourimpact is limited.
There's so many things you'regoing to want to do in your
practice and you're not going tobe able to do it because you
won't have the bandwidth.
What gives you bandwidth?
Your team, okay.
There's revenue that you cannotcreate.
Because you cannot create thatrevenue on your own, you need
your team.
Okay, you need a team, and sothe opportunity cost is that
(02:38):
you're limited in how muchrevenue you can create.
The third, and probably the mostsignificant, is if you don't
figure out the team thing, youwill burn out.
You're one human, and burnoutin an employed position is bad
Burnout.
When you created a practice andcreated your own burnout by
your own self, that's really bad, right, and so you will burn
(02:58):
out.
You will get to a point whereyour practice grows.
It gets to that place that youthought was the dream and you
want to throw it away.
I have met people who runpractices doing 3 million, 5
million, all that but becausethey're the only ones
responsible for the ideas andthe revenue creation and bearing
the weight of it at all,they're like I just want it to
(03:19):
stop.
I'm like can some privateequity person come get this
thing off my plate?
They do nothing to grow.
They do things to sabotage thepractice because on the inside,
they know that if this growsanymore, all it means is more
work for me, more headaches,less profit, but I'm paying
everybody.
My payroll is ballooning, butI'm paying myself left.
I don't want it.
So there's so many practicesthat go out of business because
(03:43):
the owner is the only persondriving it.
It is something that's nottalked about a lot, but it is a
huge reason.
It's a huge reason, okay.
So it is crucial that youunderstand this, so it doesn't
put you in a position where youburn out.
But what happens is you buyyour time back.
Okay, you buy your time back.
You have time to do the thingsthat matter to you.
(04:05):
You have time for yourself, youhave time to breathe, you have
time to think.
I've talked to so many doctorsand they're like I'm just
drowning in my practice.
I don't even have time to thinkbecause I'm the only one here,
I'm the only one putting outfires, I'm the only one doing
everything it would be.
It is so beautiful.
My private practice.
I'm not telling you somethingthat cannot be done.
(04:26):
Okay, I don't necessarily teachconcepts that are just cool and
interesting.
I teach things that I think arecool and interesting and I've
done and I've helped otherpeople do.
There's only one thing thatI've done.
I practiced for a short periodof time and I talked about it
and I told the people when I wassharing.
I was like look, the results ofthis are just too wild.
I'm sorry we need to talk aboutthis now, but otherwise I test
(04:49):
things.
Okay, my practice has been apractice doing over a million
for years.
Okay, for the last three years,this million dollar practice, I
have not set foot in it becauseI've built the team I'm trying
to tell you about.
I'm trying to tell you aboutNow, everybody, at the end of
the day, you're going to want toexit your practice one way or
another.
We're all because some peopleare like no, I just want to do
this forever?
(05:09):
You can't For one.
You're going to leave theplanet.
Okay, at some point you'regoing to leave the planet, so
you're either going to shut itdown, you're going to pass it on
to your family, way or another.
If you do not have a team, youhave a practice that may be
worthless and please understandI say this with respect I'm
trying to explain something toyou the opportunity cost of not
(05:31):
figuring this out.
Because if you have a practiceand you are responsible for
everything, you have a job.
You built a job for yourself.
If somebody wants to buy it,they have no evidence that it
will work without you, and soeven if they did buy it, they
would buy it for peanuts.
If you did have a team, thevalue is so much higher.
(05:53):
So when you hear people say adoctor, a private practice is
not worth anything just by thecharts, that's why they say that
.
But if you have a practice thatis team-led and you're not
going to get there in twoseconds, it's a process.
But if you have one that'steam-led, there is evidence that
it works without you Then nowwe're talking.
So I'm going to give you threethings.
Okay, they're very simple,they're very powerful.
(06:14):
If you do them, they will rockyour world.
Okay, all right, number one.
Number one you're going todefine the RGAs
revenue-generating activities.
You're going to define the RGAsrevenue generating activities.
You're going to define therevenue generating activities
for each role in your company.
There's nothing like this iswhat front desk people do, or
(06:38):
this is what medical assistantsdo, or this is what billers do.
That's fine, but you are goingto define what is the RGA for
each position.
So it is crystal clear to youhow each role creates revenue.
Because this is what and I'llspeak from my own experience
right, you hire front desk.
You're like, oh, the people inthe front, the girls in the
(06:59):
front, right, what do they do?
Oh, they greet the patients,they check people in.
They do that.
As long as you think like that,just so that, if you think like
that, you're throwing awaymoney, just so that, if you
think like that, your team isnot carrying any weight, because
they, what do they do?
They greet the patient, hi,welcome, welcome to IPD
Pediatrics, right, and then theycheck them in.
That's it, it.
(07:27):
So we have to understand.
Okay, fine, this is some ofwhat they do.
But how does this role createrevenue?
Why is this important?
Why did you start the practice?
To help a lot of people and tocreate revenue right, like we
have?
It's a win-win situation.
So you take care of them, theytake care of you, period.
That's the way it works, okay.
Now, when you bring on teammembers, the team members don't
come to just do random things.
They come to help you do thosetwo things to take care of
(07:48):
people and create revenue.
If you can get this concept, itchanges everything for you.
You are there to help peopleand create revenue.
When you hire team members,they're not there to do random
things.
They're not there to do themost urgent thing.
They're not there to do thethings that oh, you know,
patients are complaining aboutthis.
Let's hire somebody to do this.
Great, they're going to serveand earn.
(08:08):
Once you can get that equationtogether, then you have
unleashed the profit creatingability of every member of your
team, and that is pure magic.
Okay, so I'm going to define.
I'm going to give you examples,because I don't want this to be
in the sky.
I don't want you, don't wantanybody to get lost, so hear me
out.
You have a front desk person,okay, so maybe their revenue.
(08:32):
I'm going to give you anexample like one.
Each kind of okay Maybe theirrevenue generating activity is
collecting all your co-pays anddeductibles and making sure that
every insurance company, every,every insurance that people
come with, they're eligible,it's active.
If you think about that, if theinsurance is not active, you do
not get paid for the visit.
It doesn't matter how nice thevisit was it was like, from a
(08:53):
financial standpoint it was awaste.
So if they don't do that,nothing's happening.
They're not collecting thedeductibles, you're not getting
paid.
Do you see what I'm saying?
Because, yes, you're going tobill it to the insurance when
the insurance company is goingto tell you, great, so collect
$150 from that person, like youdidn't collect it right, so
they're collecting the co-pays,collecting the deductibles.
Then they're making sure theinsurances are active.
(09:15):
Guess what?
They're creating revenue.
If they understand, this is myrole.
This is something that I'mresponsible for.
If you are aware, this is thepart of the revenue generation
in this practice that thisperson is responsible for, that
you're in a position wherethey're checking them in,
they're smiling at them, they'redoing all of that and bringing
(09:36):
in revenue.
You need both Now.
Maybe it's a front desk person,but you're a cash-based
practice.
A lot of times I see where thedoctors are the only people who
do those meet and greet calls.
Your front desk person can dothat.
You can train them to do thatand people will say no, I'm the
only one Excuse you.
There are companies wherepeople sell $50,000 products.
(09:59):
It is not the owner sellingthose products, it's the people
on the team.
So you can train your person todo those calls and enroll
people in your practice.
I want you to think about howmuch peace and quiet, how much
freedom you have if you're notthe only person who has to do
these calls.
Just think about it, right?
So if that person, for every 10calls, let's say they're not
(10:20):
even that good.
If every 10 calls, one personsays yes, or every 10 calls, two
people say yes, right, thenthey can have a metric.
Like you know, this is thenumber of people I enroll every
month.
Then it goes from this thing ofwhere people yeah, hello, yeah,
yeah, I'm trying to take careof that.
They don't do that because theyunderstand I close people into,
I enroll people, I enrollpeople into the membership.
(10:40):
The way they show up, the waythey do.
Everything changes.
But it doesn't start with them,knowing that's our job as the
CEOs.
Okay, we have to know.
So this person serves.
I know how they help the patient, but how do they earn?
How do they create revenue?
It may be your medicalassistant.
For the medical assistant, itmay be a simple.
This is what we did in ourpractice everybody who comes in
for an appointment leaves withtheir next appointment.
(11:02):
So think about it.
If you have 20 patients on yourschedule and of course some
people are, no matter what youdo, they're not going to
schedule that appointment.
But what if, for every 20, youhave 17 that's scheduled?
That means your MA is creating17 new appointments every day.
Cha-ching, cha-ching, cha-ching.
Right, your schedule stays fullbecause every appointment is
(11:25):
creating more appointments.
They understand this is my role.
This is how that createsrevenue.
Maybe for you it's more so thatthey free up your time so that
maybe without them you would see10 patients.
With them you can see 15patients.
So they free up your time soyou can generate more revenue.
Do you see what I'm saying?
Just think how does this rolecreate revenue?
(11:48):
Because if they're only servingthe clients and they're not
creating any revenue, that'sdead weight, that's heavy,
that's going to hurt when yousee your payroll, you break out
in hives.
Okay.
Okay, you're a biller, right?
We talked a lot about, you know, ar and all of that stuff
yesterday.
But how do they create revenue?
Right Is that they take allthese claims, which are little
(12:10):
numbers, and then send them tothe insurance company to make
sure that you get paid and allof that Great.
And so you have their metrics.
If their metrics are like this,then they're bringing in
revenue.
Right, and I'll pause here andsay, like you see that your
front desk person touches almostall the revenue that comes in.
Your biller also touches almostall the revenue.
So we got to know how theycreate revenue and we have to
(12:33):
hold them accountable.
We have to have meetings withthem.
We have to do all these thingsbecause that's how the revenue
is Okay.
Okay, your office manager.
If you have an office manager,whatever your goals are for the
year, that's the way your officemanager creates revenue.
Those become that person'sgoals, him or her.
So if your goal is, you know,this year we want to bring 2
(12:55):
million in revenue, you'vereverse engineered it.
That means we need to see thisnumber of patients.
That becomes your officemanager's goal.
Like, you cannot have an officemanager that has no idea what
your vision is, because thatperson cannot help you to create
revenue, because there areoffice managers who think that
their job is to work theschedule of everyone that is
(13:15):
there and put off hires.
What a waste of an officemanager.
They can bring so much value,but you got to define it.
So, for instance and I thinkwhen I get to metrics I'll break
down the office manager oneI'll break down that one for you
, okay, but whatever your goalsare for the year, those become
the goals of your office manager, right, because they're there.
(13:36):
As a practice owner, you havethree hats there's you the
clinician, there's you themanager, there's you the
entrepreneur.
When you bring up an officemanager, you need to be able to
get rid of you the manager.
That's the point.
You brought them in to take allthis stuff.
You did put it on a person.
Just let the person do theirthing.
If you don't define it, youwill waste the potential of the
(13:59):
people you work with.
You just waste it.
So you're paying them a ton andyou're not getting a ton of ROI
, but from today we're going toget a ton of ROI, okay.
So that's number one, numberone you have to define the RGAs
for each role in your company.
The second one is you need totrain your team on those RGAs.
(14:22):
Now, there are things that we dowhen we hire people that we
just picked up from wherever.
So we want to hire people whoare just like huh, look one body
that wants to work with me, yay, let's hire this person.
And Like huh, look one bodythat wants to work with me, yay,
let's hire this person.
And then we hire the person.
And then, when we are donehiring the person, we're like oh
, I guess, when we hire somebody, you're supposed to do
onboarding.
So we start showing them alltheir logins, you know, we start
showing them the break room andall this stuff that does not
(14:48):
make things to do anything.
Okay, your onboarding is legit.
These are the things you do toserve our patients in the
highest capacity.
You train them on that.
These are the things you do tocreate revenue.
You train them on that.
That's your onboarding.
Okay, we don't pull it up fromthe internet.
We don't ask what's your?
What do you do for onboarding?
And then you copy and paste.
No, because you may wantsomething completely different
(15:09):
from what they want.
So, as far as the revenue piece,unlocking the profit potential,
the things you defined in thefirst one, defining the RGA you
now train them on how to do thatright.
So you want your fund, that'scollecting your co-pays and all
of that stuff.
You train them on how to dothat.
You train them on the fact thatpatients will come, of course,
(15:31):
and say, oh, I don't have ittoday.
Can you bill me and you empowerthem to go like don't worry
about it, they got it Okay.
If you hold them accountable,it will magically come out.
And I'll give you this examplewhen, in my practice, I used to
bill people for their co-paysuntil I found out like the time
they're really motivated to payyou is when they're right there
(15:52):
before they see you.
That's when they're motivatedto pay Okay.
And so we changed the policy andwe're like nobody comes back to
you know, into the exam roomsuntil they've paid and our
patients will go like but Johnnyhas a fever and I don't, I
don't have it today, he reallyneeds to be seen today.
So we would play them.
We would play the game andwe're like oh, there's an ATM
(16:13):
down the street.
They're like oh no, like Idon't have it.
We're like, okay, well, we canreschedule Johnny, I mean, we
can see him first thing tomorrow.
Every single time a miraclehappened, they will put their
hands into their purse or theirpocket and, magically, money
will appear.
Every single time I was like,well, looky here, they didn't
(16:35):
have money.
No, they have money.
It's a miracle.
It's amazing, right, but you'vegot to train your team on stuff
like that.
You have to train them.
You have to train them aboutthe money drama.
You have to train them on thatstuff, right, but you train them
on how to collect so they canexcel at their revenue
generating activity.
It could be a medical assistantand they're like oh, by the time
I get the vaccines or by thetime I give them the discharge
(16:57):
instruction, they don't want toschedule appointment.
That's okay.
Like for me for all usepediatrics.
You know, when they come for atwo-month checkup, their next
checkup is a four-month checkup.
So while you're doing thevitals, you're like, oh, real
quick, before Dr Una comes in,let's just go ahead and take
care of that four monthappointment and schedule it.
So once you're done and I giveyou your vaccines, you just
leave.
You don't have to wait foranything.
(17:18):
Like who wants to have a babythat just got shot.
So you're standing at the frontdesk to schedule an appointment
they all schedule, but you gotto train them on that stuff.
Do you see what I'm saying?
Like, you train them so theycan win.
You've shown them the basket.
Now you show them how to score.
That's what we're doing here.
So, when it comes to officemanager, let me just pick up
some random metrics here.
So let's say, one of them isyou decide you know, I have a
(17:42):
private practice, we have fourdoctors here.
We want every doctor seeing 20patients a day.
That's my vision for 2025.
Okay, so I'm making this up2025.
And then, in training youroffice manager, you're like okay
, when you see holes in theschedule, these are the seven
things you can do to fill up theschedule, because you may know
(18:04):
the person may not know right.
These are the seven things youcould do.
You can have them hit therecaller.
You could do a social mediathing and say we opened up some
spots to take care of X, y, z.
Call the office.
Now.
You can, you know, pull up allthe people who went to the
urgent care or emergency roomschedule their follow-up
appointments.
You could like.
These are the things you can doso that that way, you've
(18:25):
empowered the person to win,right?
So when it looks like you knowa week from now there's this big
gap in the schedule, they knowwhat to do, they know what to
delegate to the team to do,they're in control, they're in
charge.
So if they're telling you it'san FYI, I looked at the schedule
two weeks from now.
It looks like it's a lotlighter than it usually is.
But these are the things we putin place and all that stuff.
(18:47):
I think we should be fine.
That's what we want.
We want someone who can crushit.
But for you to have that, thosepeople are made they don't just
show up like that.
Somebody empowers them to dothat and that's you from now on.
Okay, let's say another thing isyou want your AR to look a
certain way, right?
You want your accountsreceivable, your aging report.
You want it to look a certainway where 80% or 85% of all the
(19:09):
outstanding balances are thezero to 30 buckets and all your
personal balances are collected.
So you created all this.
You know, you created themetrics.
You have to empower her.
This is how you look at theaging report.
You look at the personal here.
If you see this here, it meansthis If you see this here, it
means that If you see this here,it means this right, what are
(19:31):
you doing?
You're taking your know-how,your IP, your wisdom and you're
installing it into somebody else.
So when you delegate, you'renot just delegating the task,
you're delegating the task,you're delegating the thinking,
you're delegating thetroubleshooting, you're
delegating everything, right,okay?
So let's say you have one ofyour goals is your online
reputation in your community.
You want to be known as thego-to practice.
Same difference you empower theperson, so you tell them.
(19:53):
Every time someone says, oh, mygoodness, you're amazing, right
, then that means ask them for areview.
Or you can say we have reviewdays Every third.
Pick the day that tends to belighter, like you know, less
crazy in your office, you know.
So maybe you're like everyWednesday or every Thursday,
every last Thursday of the monthis review day, and on that day
we go to war.
We ask for 50 reviews from thepeople who love us.
(20:14):
Boom, it's a system that runs.
You've empowered the person soshe can go and crush it.
Okay, so this is the deal,right, you define for each role.
This is the way this rolecreates revenue.
Right After that, you now trainthem.
This is how you excel at thisrole.
This is how you can be a rockstar at this role.
(20:36):
I was reading a book andsomebody said have you wondered
where they get the people thatwork at Disney?
They have a good work ethic,they're very pleasant, they're
very helpful and they're veryyoung.
Some of them are teenagers.
Like, where do they find thesepeople?
Right?
And the person said whereeverybody else finds people?
(20:57):
They just have a differenttraining system.
They're able to take the samepeople everybody else sees and
turn them into the people who dothis Right.
So I want you to think aboutyour company as a human resource
development company, because ifyou do that, you will build the
team that will build thebusiness An absolute win-win.
(21:19):
They will get to get a job, oneof the best jobs.
They'll have, so much personaldevelopment.
They'll be able to look and saythis is where I grew the most
in my career and all of thisstuff level of significance
because of the impact that theyhave right, and you get to have
more impact, you get to havemore time, freedom.
It's just a win, win, win, winsituation.
Okay, all right, so we're done.
(21:40):
Two and two will completelychange your business, but
because we like to overdo it,we'll give you number three,
okay, okay, what's number three?
Number three is give them thegift of accountability.
Accountability is not a badthing.
At my core, when we talk aboutpersonality types, I'm
phlegmatic, which means I willdo anything I need to do to
avoid conflict.
That's my natural bent.
So, talking to people andholding them accountable totally
(22:02):
not my thing.
But you cannot build a greatcompany without accountability.
It's a gift.
So we're going to reframe theway we think about it.
It's not this bad thing.
I'm not being a bad boss.
I'm not micromanaging.
I'm not in people's face.
I'm giving people the gift ofaccountability Because when I
give them the gift ofaccountability, they function at
a much higher level in waysthat they never even thought
possible.
(22:22):
They become versions ofthemselves that they did not
know they could become Right.
And this is the deal.
When you start training peopleto do new things, if you do not
hold them accountable, they willnever do it.
I mean, think about it.
You have learned things as awhole CEO that's rocking it.
You have learned things thatyou don't do because nobody's
held you accountable, meincluded.
(22:43):
I'm not trying Me included.
So it's the same with your team.
They will love you after thefact for giving them the gift of
accountability.
Okay, give them the gift ofaccountability.
So what does that mean?
For every revenue generatingactivity, put a metric behind it
and measure it.
If you have a scheduler and yousay your responsibility is to
(23:07):
make sure these four doctors inmy practice each have 20 people
on the schedule, you put thatmetric there, you meet with the
person In the beginning.
It may be on a weekly basis andyou pull out the numbers Okay,
so it may be on a weekly basisand you pull out the numbers.
Okay, so Tuesday, we had anaverage of you 15.
Wednesday, we had an average of13.
You know, wednesday we had anaverage of 20.
(23:28):
You're like okay, so I know we20, I know we talked about these
things.
So talk to me.
What is the challenge here?
How can I support you?
Because I know you want to winand I know you can do this, and
they're like well, what happenedwas, you know, the lion came
out and the lion said oh mygoodness, if you try to schedule
somebody, I'm going to buy you,and they come up with all this
stuff, right, you allow them tobe great, and then you help them
(23:48):
.
You help them, you coach themthrough it and then you hold
them accountable.
So you're like, okay, great.
So what do you think?
If we did this and did this anddid this, okay, I think that
would work.
Okay, this, you did this thisway.
You can change it and do thisway.
Okay, great.
So we're going to meet againnext Friday and see where we are
.
It's work.
But the thing is this If you doit, you do it for two weeks,
(24:21):
then four weeks, then eightweeks, then 12 weeks.
Then you come up with thisperson who can man your schedule
and only gives you information.
Like we're looking good.
You know, I did see.
You know, week out there's thishole there.
But these are the five thingsthat I put in place and this is
what else I did.
Is there anything else youwould have done?
No, you did what I would havedone Great.
So we're going to watch it.
I'm keeping a close eye on itand we'll see how it turns out.
These are the kind of teammembers we want.
(24:41):
I mean, imagine running apractice where you no longer
think about filling the schedule.
It's not a thought that comesto your mind because you have a
team member doing that.
Imagine running a practicewhere you're not worried about
all the billing going out ofshape and all of that kind of
stuff, because you've put themetrics, you've trained the
people, you've done all thisstuff and they're coming to tell
you oh, we noticed with thisinsurance company, they added
(25:03):
this new code and they starteddenying things and all that.
So it's going to look like thebilling is out of whack, but
it's not.
We've re-sent all the claims,we've talked with the.
It in front of you.
So when you look at the ARreport, you're not wondering
what's happening.
Who would want that?
Like, I'm saying that and Ilove that.
You see what I'm like.
You can unburden, you can takeall this stuff off your plate,
(25:28):
but you got to define what theRGAs are.
You have to define what theyare for each role.
You have to train the team.
This is where the work is.
This is the work that a lot oftimes we don't want to do.
Okay, this is something Istruggled with a lot when I
started off as an entrepreneur.
But you know, it's been 14years, so I'm a little better
now, but in the beginning I waslike I looked at your resume,
(25:50):
you had all this training.
Why do I need to train you?
Because this is the job of aCEO.
The job of a CEO is to buildthe team that builds the
business.
That's your job.
So you train them on the RGAs.
And then the third thing you dois you hold them accountable
Revenue generating activities.
So your RGA is revenuegenerating activities.
So that's one everyone wants tomemorize.
(26:12):
That's a word we use a lot onthe podcast here in the business
school in the movement revenuegenerating activities.
Okay, the third thing is youwant to give them the gift of
accountability, because it iskind of like you learn to drive,
but to become good at driving,you then have to drive right.
So you can train your team onthe RGAs, which is very good,
(26:33):
but when you're done, you givethem the gift of accountability
so they can practice and createresults, practice and create
results, practice and create theresults.
Then they become great at it.
You want them to become mastersat their RGAs, and that mastery
requires putting in the reps.
Okay, and if they do not haveaccountability, they are not
putting in the reps Okay.
When you think about how thisthought process is changing how
(26:56):
you think about your business,your practice and how it's
setting you up for success?
On a scale of one to five, howlikely do you think it is that
if you do these three things,you will end up with a brand new
practice, brand new team, moreimpact, more revenue, more
(27:22):
impact, more revenue, moreprofits.
Your payroll.
You look at it very differently.
You're like my goodness, thisis an investment, this is not an
expense.
So look at the number five outof five, 10 out of five, five
out of five.
I am telling you that for usprivate practice owners.
Telling you that for us privatepractice owners, I know that
there are narratives, okay, Iknow that there are narratives
(27:43):
of oh, your private practice isdead and nothing is working, and
all of that, you already havethe practice.
There are people who have madeit work.
There are people who havecontinued to make it work.
One of the beautiful thingsabout my example is I run a
pediatric practice.
Please hear me.
Okay, please hear me.
We are one of the lowest paidspecialties and my practice is
(28:06):
60% Medicaid and it is a privatepractice that is thriving.
It is a private practice thatsurvives not survives thrives in
the midst of the pandemic.
It is a private practice thatis working.
Even though I'm not physicallyin the building, these concepts
work and the things that I'veshown you will require work, but
there's nothing I've shown youthat's impossible.
(28:27):
There's nothing I've shown youthat cannot be done.
They are simple and you can dothem and they will change your
practice.
Okay, and I'm gonna show yousome stories about some of the
docs who have have pulled thisoff.
This is Jessica.
Jessica is part of TeamEntreeMD.
We love her.
She's absolutely amazing.
She's a strong physician ally.
(28:47):
She says employee perspectiveis so good to be empowered, to
know what it looks like to dowell and to know that our role
is important, and that'ssomething you want to do with
your people.
So this is a bonus.
You can thank Jessica for it.
Right, when you link what theydo to the bottom line, link it
to the outcome and, as you win,you explain how what they're
(29:11):
doing is the reason for the win.
That is nuts.
That is nuts.
It's so good.
It's so good, it's such ahelpful thing that you can do
for your employees, okay, okay.
So if we want to recap realquick, I want you to think.
In the last three days, you'vechanged your business.
You've learned how to fill upyour patient panel, your patient
schedule, right In 90 days orless.
(29:31):
We're not talking in 300 years.
We did that on day one.
Day two, we looked at how toget paid.
How do I get paid for the workthat I'm already doing?
How do I get paid?
Because I will tell you thereare thousands, hundreds of
thousands for some people, sevenfigures of revenue left on the
table, left in the AI right.
And then the third thing is howto unlock your team for profit
(29:52):
creation.
Your payroll is one of yourbiggest expenses.
So let's use accountantlanguage on your profit and loss
statement one of your biggestexpenses, which means you have
to get an ROI on it.
You have to look at every role.
Every role needs to be creatingprofit, otherwise it's dead
(30:13):
weight and you're not thefederal government.
You don't have an unlimitedamount of funds.
You can't just go print moredollars right, and so if it's
dead weight, you either turn itinto an ROI or they gots to go.
How is every role creatingrevenue?
We open a business to servepeople in a profitable way.
(30:33):
That's why we start businesses.
That's what we do.
Every team member that comes onhas one assignment that has two
branches Serve people, createrevenue.
They have to do both.
They have to do both.
Imagine your payroll puttingyou out of business.
That's crazy.
But we don't do that anymorebecause we've learned.
Okay, we are the people who aregoing to define the RTAs right.
(30:57):
We're going to define the RTAsfor everyone.
We're going to train them tobecome masters at those RTAs and
then we're going to give themthe gift of accountability and
watch them thrive in those RTAs.
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