157: Healing Hands, Leading Minds

What if private equity could be the game-changer your healthcare practice needs? Picture this: once skeptical about private equity, Mark took a journey that transformed his perspective, revealing how these investments, when paired with strong leadership and clear vision, can drive success.On this episode of Practice Freedom, we challenge the conventional wisdom that views private equity with suspicion. By sharing his personal experience, Mark uncovers the keys to aligning with investors who support your practice's mission and values. Moreover, we introduce a strategic two-by-two model that differentiates between growth and exit phases, highlighting conditions of health and dysfunction in each stage to guide your investment decisions.We delve into the delicate intricacies of navigating private equity funding. Not all private equity is created equal, and being informed is crucial. Mark emphasizes the necessity of a clear understanding of your goals and the right tools to achieve them.Join us as we explore how to make investment decisions that lead to a thriving practice and a fulfilling life, free from the pitfalls that many fear.In this episode, you will hear:The role of private equity in healthcare and its potential benefitsBreakdown of the two-by-two model for investment stages: growth and exit phasesExploration of healthy vs. unhealthy conditions in both growth and exit phasesThe importance of strong leadership and clear vision in successful investmentsCautionary advice on navigating private equity funding with an understanding of goals and toolsPersonalized guidance available for practice leaders to achieve value-driven, thriving practicesResources from this episode:www.markhendersonleary.comAs always, this is a two-way conversation, and we want your feedback. Let us know if we’re on the right track and you’re getting something from the podcast, or if you have questions or comments on how to make it better. Click here to send Mark a voice memo with your thoughts on each episode. - http://speakpipe.com/practicefreedomFollow and Review:We’d love for you to follow us if you haven’t yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.

How can healthcare providers navigate the complex world of private practices while balancing innovative business ideas and stringent regulations?On this episode of Practice Freedom, Mark sits down with Ericka L. Adler, a distinguished attorney specializing in healthcare. We dissect the growth opportunities in healthcare private practices and the role of management services organizations (MSOs) in this landscape. Learn how the fall season, driven by summer networking and looming year-end deadlines, becomes a hotbed for healthcare ventures and expansions. Ericka and Mark emphasize planning and compliance to avoid legal pitfalls.Our exploration continues with a deep dive into the mechanisms and motivations behind MSOs, which are increasingly shaping dental and veterinary practices. We unpack the various structures and functions of MSOs, from handling simple administrative tasks to managing nearly all non-clinical operations. Discover how MSOs can alleviate the operational burdens on healthcare providers, creating scalable business models that attract investors.Effective leadership and strategic partnerships are also at the forefront of our discussion. Ericka and Mark delve into the motivations behind seeking investments, from amplifying a vision to pursuing an exit strategy, and how these choices impact the control and decision-making of healthcare providers. We tackle the fine line between financial investment and maintaining the humanitarian goals of healthcare, highlighting the evolving roles of private equity and MSOs. By fostering genuine partnerships that respect the expertise of doctors, we aim to enhance patient care and the overall healthcare system.Tune in for practical advice on navigating this delicate balance, and learn how meaningful connections can transform your practice into a thriving, fulfilling environment.In this episode, you will hear:Navigating the complexities and opportunities in healthcare private practices with Ericka L. AdlerA deep dive into management services organizations (MSOs) and their structures, roles, and benefitsThe role of MSOs in easing operational burdens and creating scalable business modelsStrategies for balancing innovative business ideas with stringent healthcare regulationsMotivations and impacts of seeking investments in medical practices, including private equityThe importance of effective leadership and strategic partnerships in healthcareAdvice for maintaining control and enhancing patient care through meaningful connections and partnershipsResources from this episode:Email Ericka L. Adler: [email protected] Ericka’s website: www.ralaw.com/people/ericka-l-adlerConnect with Ericka on LinkedIn: linkedin.com/in/ericka-adler-87a2a93Find Ericka on Twitter/X: x.com/modernhealthlawAs always, this is a two-way conversation, and we want your feedback. Let us know if we’re on the right track and you’re getting something from the podcast, or if you have questions or comments on how to make it better. Click here to send Mark a voice memo with your thoughts on each episode. - http://speakpipe.com/practicefreedomFollow and Review:We’d love for you to follow us if you haven’t yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.

How do you transform from an individual healer into a visionary leader within the healthcare industry?On this episode of Practice Freedom, Mark unravels the crucial mindset shifts required for practice leaders to thrive in broader roles like integrator, business manager, or visionary leader. We emphasize the non-binary nature of this evolution, highlighting the importance of defining your role clearly and the challenges of balancing clinical duties with administrative tasks. We explore three potential future outcomes for practice leaders, offering insights on finding the right fit for your long-term success and fulfillment.Mark also tackles the complexities of early practice leadership transitions with insights from professionals like Dr. Michael Nula and Jim Edwards. We address the common feelings of uncertainty and share strategies for self-assessment, mentorship, and gradual growth. Discover how to delegate responsibilities effectively, when to hire associates, and the pivotal moments that signal it's time to seek help.Embrace the discomfort of transition, focus on what makes sense for your unique situation, and take proactive steps to refine your direction and achieve your goals.In this episode, you will hear:Essential mindset shifts for transitioning from individual healer to healthcare leaderThe non-binary nature of evolving into integrator, business manager, or visionary leader rolesCreating clear role definitions and balancing clinical and administrative dutiesInsights from Dr. Michael Nula and Jim Edwards on early practice leadership transitionsStrategies for self-assessment, mentorship, delegating responsibilities, and hiring associatesEmbracing discomfort and proactive steps for achieving leadership goalsNavigating role transitions and evaluating the right fit for long-term success and fulfillmentResources from this episode:markhendersonleary.comAs always, this is a two-way conversation, and we want your feedback. Let us know if we’re on the right track and you’re getting something from the podcast, or if you have questions or comments on how to make it better. Click here to send Mark a voice memo with your thoughts on each episode. - http://speakpipe.com/practicefreedomFollow and Review:We’d love for you to follow us if you haven’t yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.

Winning isn't just about the final score—it's a mindset that impacts every facet of life.On this episode of Practice Freedom, Dr. Michael Nula and Mark break down the psychology behind the passion for winning, whether in the warmth of a family game night or the high-stakes business world. We unpack how not winning can affect morale and team dynamics and why it's crucial to surround yourself with the right people when times get tough. Through compelling stories from sports and personal experiences, we highlight the power of persistence and enthusiasm, even when facing setbacks.Shifting gears, we dive into entrepreneurship within healthcare. Dr. Nula shares his transition from conventional practices to innovative, patient-centered approaches, revealing the innate entrepreneurial spirit among healthcare providers. We discuss the importance of learning from both successes and failures, the role of mentors and family support in fostering growth, and the continuous pursuit of knowledge to build better systems and improve patient care. Dr. Nula’s personal story of growth, influenced by a background in HR and education, serves as an inspiring blueprint for those looking to enhance their practice's identity and effectiveness.Finally, we explore cultivating a winning team culture and effective leadership within healthcare practices. The conversation covers strategies for recognizing individual strengths, fostering collaboration, and the necessity of decentralized leadership as practices grow. We emphasize the critical role of communication in maintaining operational efficiency and high-quality patient care. By leveraging entrepreneurial leaders' collective efforts and innovative spirit, we discuss how healthcare practices can navigate the complex health system and create a thriving practice culture that benefits both the team and patients.Don't miss these insights and strategies for building a successful and fulfilling practice environment.In this episode, you will hear:Psychological and emotional facets of winning in various contexts, from games to businessThe importance of persistence and enthusiasm in overcoming setbacksDr. Nula’s transition from traditional medical practices to innovative healthcare solutionsThe role of business management skills, mentorship, and continuous learning in personal and professional growthStrategies for building a winning team culture, effective communication, and delegationThe necessity of decentralizing leadership to ensure operational efficiency in growing healthcare practicesEntrepreneurial leadership’s impact on proactive patient care and healthcare system improvementResources from this episode:Email Dr. Michael Nula: [email protected] Training Systems website: www.nulatrainingsystems.comConnect with Dr. Nula on LinkedIn: www.linkedin.com/in/michaelnulaAs always, this is a two-way conversation, and we want your feedback. Let us know if we’re on the right track and you’re getting something from the podcast, or if you have questions or comments on how to make it better. Click here to send Mark a voice memo with your thoughts on each episode. - http://speakpipe.com/practicefreedomFollow and Review:We’d love for you to follow us if you haven’t yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.

Is delegation in healthcare just about offloading tasks? Think again.On this episode of Practice Freedom, Mark unpacks the often misunderstood concept of delegation within healthcare private practices. This episode is a deep dive into the two-part delegation process: identifying and reassigning work and then continuously managing it to ensure it meets the desired standards. We touch upon the balancing act between leadership and management, addressing common challenges in creating a self-sustaining, high-performing practice. Learn from Mark’s insights and strategies designed to elevate your practice to new heights.Accountability is the bedrock of effective management, and we explore this concept using Pat Lencioni's renowned model. Discover how to bridge the gap between expectations and outcomes by fostering a culture of open dialogue and engaging in those tough conversations that many shy away from. We'll guide you on prioritizing tasks effectively and making the most out of your Level 10 Meeting™.Tune in and transform your practice management approach today.In this episode, you will hear:The two-part process of identifying and reassigning work, followed by ongoing managementBalancing leadership and management roles to create a high-performing, self-sustaining practiceThe importance of accountability in management, using Pat Lencioni's model: trust, healthy conflict, commitment, accountability, and resultsAddressing gaps between expectations and outcomes through regular assessment and open dialoguePrioritizing tasks for maximum effectiveness during the Level 10 Meeting™The need for continuous feedback and engagement to refine practicesEncouraging honest, objective, and subjective assessments for better management and team alignmentResources from this episode:markhendersonleary.comAs always, this is a two-way conversation, and we want your feedback. Let us know if we’re on the right track and you’re getting something from the podcast, or if you have questions or comments on how to make it better. Click here to send Mark a voice memo with your thoughts on each episode. - http://speakpipe.com/practicefreedomFollow and Review:We’d love for you to follow us if you haven’t yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.

Leadership isn't just about making decisions. It’s about continuous learning, effective delegation, and fostering a thriving company culture. On this episode of Practice Freedom, Mark sits down with Jim Edwards, the visionary behind Opti-Port, the largest alliance of regional eye care providers. Jim shares his incredible path from founding the company to successfully navigating its sale, offering insights into his management style and the balance between hands-on involvement and strategic oversight. You'll better understand how working with larger organizations and private equity can shape and enhance company culture. Have you ever wondered how to transition from being a good manager to a great leader? Mark and Jim reveal the critical steps, including the essential need for discernment in leadership and knowing when to seek external resources. We discuss real-life scenarios highlighting the importance of mastering sales skills, even if it means stepping out of your comfort zone, and how strategic delegation can foster business growth. Discover how understanding your personal limitations and focusing on your strengths can transform operational capabilities into business success. Uncover powerful tools like the Delegate and Elevate™ framework and Pat Lencioni's “Five Dysfunctions of a Team” as we explore building accountability and effective communication. Jim's stories reveal the importance of honest conversations in building trust within teams and creating a culture of accountability. Whether you're managing a small healthcare practice or leading a large organization, this episode is packed with practical lessons and inspiring stories to help you lead effectively and cultivate a competitive business environment. Join us for an episode that promises to elevate your leadership skills and empower you to create lasting value in your organization.In this episode, you will hear:Transitioning from manager to strategic leader in private healthcare practicesJim Edwards' journey in founding, growing, and selling Opti-PortThe importance of continuous learning, delegation, and mentoring in leadershipWorking with larger organizations and private equity's impact on company cultureThe Delegate and Elevate™ framework for maximizing productivityBuilding accountability and trust within healthcare teams using Pat Lencioni's “Five Dysfunctions of a Team”Aligning vision with private equity and managing business ownership transitionsResources from this episode:Jecco Advisors website: Jeccoadvisors.comConnect with Jim Edwards on LinkedIn: www.linkedin.com/in/jim-edwards-6028172As always, this is a two-way conversation, and we want your feedback. Let us know if we’re on the right track and you’re getting something from the podcast, or if you have questions or comments on how to make it better. Click here to send Mark a voice memo with your thoughts on each episode. - http://speakpipe.com/practicefreedomFollow and Review:We’d love for you to follow us if you haven’t yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.

What does transitioning from a physician's white coat to an entrepreneurial leader's suit take?On this episode of Practice Freedom, Mark uncovers the compelling story of Dr. Jonathan Baktari, who shares his incredible transition from clinical practice to healthcare entrepreneurship. We discuss the necessity of humanizing leadership by showcasing vulnerability and embracing one's unique personality. Dr. Baktari highlights how evolving beyond traditional roles can inspire healthcare leaders to build cohesive, passionate teams and establish patient-centric practices.We dive into the essential skills healthcare professionals need to transition into entrepreneurial roles successfully. From mastering management skills such as hiring, firing, and negotiating to understanding the balance between clinical expertise and business acumen, Dr. Baktari provides valuable personal experiences to guide you through this challenging journey. Mark and Dr. Baktari’s discussion also emphasizes the role of forward-thinking career planning and the importance of considering new opportunities before reaching a point of burnout or desperation.Lastly, we explore the life-changing power of an ownership mentality in healthcare organizations. By treating staff well and strategically marketing to ideal customers, healthcare practices can achieve remarkable patient satisfaction and loyalty. Dr. Baktari offers observations on creating a culture of growth and accountability through hiring the right people and investing in their development.Discover how embracing entrepreneurial opportunities can lead to innovative, thriving healthcare organizations and benefit the entire sector.In this episode, you will hear:Dr. Jonathan Baktari’s transition from physician to healthcare entrepreneurHumanizing leadership by showcasing vulnerability and personalityEssential management skills for healthcare professionals entering entrepreneurshipThe importance of forward-thinking career planning to avoid burnoutCreating a patient-centric cultureThe power of an ownership mentalityInvesting in team development and micro-mentoring for growth and accountabilityNavigating the balance between clinical care and business managementResources from this episode:Email Dr. Jonathan Baktari: [email protected]. Baktari on Facebook: www.facebook.com/BaktariMDDr. Baktari’s website: baktarimd.comConnect with Dr. Baktari on LinkedIn: www.linkedin.com/in/jonathan-baktarimdFind Dr. Baktari on Twitter/X: twitter.com/BaktariMDMediaFollow Dr. Baktari on Instagram: www.instagram.com/baktarimdAs always, this is a two-way conversation, and we want your feedback. Let us know if we’re on the right track and you’re getting something from the podcast, or if you have questions or comments on how to make it better. Click here to send Mark a voice memo with your thoughts on each episode. - http://speakpipe.com/practicefreedomFollow and Review:We’d love for you to follow us if you haven’t yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.

Can rethinking your practice’s organizational structure transform your efficiency and clarity?Imagine a world where accountability and function, not just titles and seniority, drive your healthcare practice forward. On this episode of Practice Freedom, Mark reveals how the EOS Accountability ChartⓇ can revolutionize how you run your healthcare organization. We dissect the traditional org chart, often clogged with titles and hierarchy, and showcase the power of focusing on key roles that genuinely add value. Your practice can achieve unparalleled efficiency and engagement with the right people in the right seats.Clear accountability is the cornerstone of any successful organization. We discuss how keeping accountability within designated roles—despite consulting senior individuals—can lead to better decision-making and a culture of ownership. Effective communication methods such as newsletters, town halls, and regular meetings are emphasized to maintain transparency and information flow. Learn how separating the Accountability Chart from the organizational chart can streamline your practice and create a culture where every team member knows their role and responsibility.Don't miss this discussion designed to enhance how you manage your healthcare practice.In this episode, you will hear:Differences between traditional org charts and the EOS Accountability ChartⓇStreamlining healthcare practice operations with the Accountability ChartImportance of focusing on key functions and roles (3 to 7 essential functions)Distinction between accountability and responsibilityEffective communication strategies for maintaining clear accountabilityTools and methods to foster transparency (newsletters, town halls, meetings)Implementing the RACI framework for clear roles and responsibilitiesResources from this episode:www.markhendersonleary.comAs always, this is a two-way conversation, and we want your feedback. Let us know if we’re on the right track and you’re getting something from the podcast, or if you have questions or comments on how to make it better. Click here to send Mark a voice memo with your thoughts on each episode. - http://speakpipe.com/practicefreedomFollow and Review:We’d love for you to follow us if you haven’t yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.

Vulnerability in healthcare—weakness or strength?On this episode of Practice Freedom, Mark challenges the misconceptions around vulnerability and reveals how it can revolutionize your practice. Drawing from the insights of thought leaders like Brené Brown, Michael Singer, and Eckhart Tolle, Mark shares practical strategies for embracing our imperfections to foster authentic leadership and create a culture of openness. We can cultivate an environment that promotes personal and professional growth by letting our defenses down and trusting our true selves.In the second part of the episode, we explore the power of seeking feedback and support within the healthcare community. Sharing valuable information helps others and propels us toward continuous improvement.Join us as we explore the potential of vulnerability and community support in creating a high-impact, fulfilling work environment.In this episode, you will hear:The power of vulnerability in healthcare leadershipEmbracing imperfections to foster authenticity and growth in medical practicesInsights from thought leaders like Brené Brown, Michael Singer, and Eckhart Tolle on vulnerabilityCreating a culture of openness and honesty within healthcare practicesThe role of honest feedback and community support in professional developmentPractical advice for healthcare practice owners to cultivate a thriving, supportive environmentResources from this episode:www.markhendersonleary.comAs always, this is a two-way conversation, and we want your feedback. Let us know if we’re on the right track and you’re getting something from the podcast, or if you have questions or comments on how to make it better. Click here to send Mark a voice memo with your thoughts on each episode. - http://speakpipe.com/practicefreedomFollow and Review:We’d love for you to follow us if you haven’t yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.

Have you ever wondered what it takes to lead an innovative healthcare practice that transforms lives through psychedelic therapy?In this episode of Practice Freedom, Mark welcomes back Ben McCauley, co-creator of a groundbreaking curriculum for psychedelic therapy, for part two of their conversation. Ben, an entrepreneur, visionary leader, and healer, shares his journey, from his motivations to enter this revolutionary space to his practice's unique approaches. Discover the importance of transparency and personal growth in leadership and how continuous self-improvement drives a successful and meaningful healthcare practice.We'll explore the intricacies and ethical considerations of running a ketamine clinic, stressing the need for comprehensive psychotherapeutic support and a heart-centered approach. Ben explains his innovative model that integrates therapeutic support and careful dosing strategies, emphasizing collaboration with pioneers in the field. Finally, we discuss the power of vulnerability in leadership, highlighting how transparency about our struggles fosters trust and growth. By removing ego and embracing vulnerability, leaders can enhance receptiveness and strengthen their practices through shared challenges and communal support.Don't miss this episode, which is full of wisdom and practical advice for anyone interested in innovative healthcare and effective leadership.In this episode, you will hear:The innovative healthcare practice focused on psychedelic therapy and Ben McCauley's motivations for entering this fieldExploring the balance between different roles: entrepreneur, leader, and healer, in the context of running a psychedelic therapy practiceThe challenges of maintaining transparency and personal growth in leadershipExamining the ethical landscape and complexities of operating a ketamine clinicThe importance of comprehensive psychotherapeutic support in ketamine clinics and avoiding cash-driven business modelsCollaborative efforts in establishing a psychedelic model of care with therapeutic support and careful dosing strategiesAn analysis of the power of vulnerability in leadership and its impact on fostering trust and growthRemoving ego to lead effectively and the importance of surrounding yourself with the right peopleHow communal support and transparency about personal struggles enhance leadership and organizational resilienceThe continuous path of self-improvement and responsible stewardship required for a successful healthcare practiceIntegrating psychedelic care models in clinical practice and the importance of self-growth and flexibility in leadershipResources from this episode:Denovo Therapy website: denovotherapy.comEmail Ben McCauley: [email protected] Therapy on Facebook: www.facebook.com/denovotherapyConnect with Denovo Therapy on Instagram: www.instagram.com/denovotherapyAs always, this is a two-way conversation, and we want your feedback. Let us know if we’re on the right track and you’re getting something from the podcast, or if you have questions or comments on how to make it better. Click here to send Mark a voice memo with your thoughts on each episode. - http://speakpipe.com/practicefreedomFollow and Review:We’d love for you to follow us if you haven’t yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.