Private Practice Playbook EP 56: Fix Your Cash Flow. Now.
Jul 24, 2025
Dive into the challenges of cash flow management in private practices. Discover why under-earning is common and how to tackle it head-on. Learn practical strategies to distinguish between personal and practice expenses. The discussion emphasizes shifting financial mindsets to value patients more and actively pursue growth. It's not just about managing money; it's about transforming how you think about wealth creation!
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Common Under Earning Reality
- Most professionals in private practice are under earning but often lack awareness of it.
- Under earning slowly becomes a chronic condition that hinders financial growth and freedom.
Debt Destroys Wealth
- Debt can severely diminish wealth over time due to accumulating interest.
- Many professionals unknowingly spend far more repaying loans than initial borrowed amounts.
Understanding Cash Flow Dynamics
- Cash flow in a practice is about collections versus expenses inside the corporation.
- It's easy for doctors to spend more than they earn due to financial habits and pressures.