Getting Paid In HealthCare: The Good, the Bad & the Awkward. Can Employee make 200k? #123

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Summary

In this episode, Blake Withers and Jack O'Brien discuss the often-overlooked aspects of business and finance in healthcare. They explore the importance of sustainability, negotiation strategies for new graduates, and the realities of income potential in allied health professions. Jack shares his journey from clinician to business owner and emphasizes the need for effective communication and understanding of financial literacy in the healthcare field. The conversation also touches on the challenges of starting a private practice, the significance of KPIs, and the value of patient-centered care.

Chapters

00:00 Introduction to the Conversation

00:29 The Importance of Business in Allied Health

01:41 Jack O'Brien's Journey in Healthcare

03:36 Sustainability in Healthcare Practices

07:42 Negotiating Your First Job

10:48 Work-Life Balance vs. Work-Life Tension

12:49 Understanding Income Potential in Healthcare

16:06 The Reality of Business Expenses

19:47 Profit Sharing and Employee Satisfaction

20:55 Effective Communication in Negotiations

25:00 Increasing Your Income Potential

27:51 Ethical Revenue Generation in Healthcare

32:55 The Challenges of Starting Your Own Practice

33:46 The Reality of Starting a Clinic

37:29 Exploring Career Progression in Healthcare

41:24 Financial Strategies for Clinicians

41:58 Contractor vs Employee: Weighing the Risks

45:18 Creating a Reward Structure in Clinics

48:20 The Value of Patient Care and Communication

58:12 Believing in the Value of Every Patient Interaction