Group Practice Accelerator
179 episodes - English - Latest episode: 4 days ago - ★★★★★ - 27 ratingsThe founders of Polaris Healthcare Partners share education, tactics, and strategies to help you launch and scale your group healthcare practice. We bring decades of experience in working with hundreds of clients to help you accelerate your learning curve while minimizing your chances for mistakes. Learn more at https://www.polarishealthcarepartners.com
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Episodes
We're Grateful
November 25, 2021 10:25 - 5 minutes - 5.45 MB2021 has already been an unbelievable year for us at Polaris, so heading into this uniquely American holiday weekend of Thanksgiving, we wanted to say thank you to all our fans and we are grateful for YOU! Then next week we’re back to the numbers. Cheers to you, your families, and your teams!”
“The WHATs of Building a Successful Group Practice”
November 18, 2021 12:45 - 27 minutes - 25.6 MBAfter unpacking the WHYs and a few HOWs, here are the WHATs to consider if you’re going to build a successful group practice. I’ll dig deeper into some aspects of risk, operational considerations, financial outcomes, and some that are more personal in nature. That and some gratitude for 2,000 downloads! All on today’s show.
How to Create Financial Success in Building a Group Practice
November 10, 2021 10:00 - 29 minutes - 27.1 MBLast week we covered the failures we most often see in group practices, so let’s be more optimistic this week and talk about creating financial success! We cover all the bases from arbitrage to utilization. And, yes, our podcast has gone global. All on today’s show!
How to Create Financial Failure in Building a Group Practice
November 04, 2021 09:00 - 39 minutes - 35.8 MBDo you ever wonder why so many emerging group practices underperform financially? Or maybe why so many group practices seem to be in financial difficulty? There are quite a few reasons, but today I unpack the three that we see most often. That and a great question around mergers from the President of an Enterprise-level DSO. All on today’s show!
Should You Build a Group Practice?
October 28, 2021 09:00 - 40 minutes - 37 MBWe get asked the same question all of the time: “Should I build a group practice?” Well…let’s see if we can answer it! We’ll dig into that along with the 5 Drivers of Consolidation we think are impacting the industry right now and into the coming years. Do you have the commitment to undertake the risk to build a group? I’ll give you some things to think about as you answer that. It’s all on today’s podcast along with a recent question around “time management.
Defining & Developing Strategy
October 21, 2021 09:00 - 30 minutes - 28 MBWe got a TON of questions around the subject of strategy, but “strategy” can be a wide-ranging topic. I help you think through strategy from several different perspectives: target market; services; growth; and execution. And I relate it all to what we’re doing here at Polaris! This discussion should give you PLENTY to think about as you build out your own strategic planning session for 2022. We welcome Mike Dombrowski as our new Brand Manager here at Polaris and I share wh...
Stop Playing "Small Ball" - Strategic Planning for 2022
October 14, 2021 09:12 - 37 minutes - 34.7 MBAre you planning on acquiring practices in 2022? If so, it's time to stop playing "small ball!" You should think about different acquisitions differently! Do NOT take a one size fits all approach. I give you four aspects to think through as well as developing your own "Target Acquisition Profile" and your own Pitch. Build your group the way the "big boys" do it, starting in 2022! That as well as further details on our Working Group sessions on "Mergers, Acquisitions & Aff...
Maximizing Your Most Valuable Currency - a Recap on Equity
October 07, 2021 09:11 - 28 minutes - 26.4 MBWe've covered a TON of ground over the last 90 days as it relates to the concept of Equity. From Associate and Executive equity models to Cap Table Mergers to the recent Affiliations Model, it was a lot to digest, so we thought it would be beneficial to take a minute and hit the highlights of "all of the above." I decided to bring back the little man behind with the big microphone. That's right - Diwakar's back! Today we slice and dice the ins and outs of all things equity...
Strategies & Tactics Around Affiliations
September 30, 2021 09:12 - 39 minutes - 36.1 MBThe "Affiliations Model" continues to generate a LOT of interest and inquiries, so I decided to bring back the little man behind with the big microphone. That's right - Diwakar's back! Together we slice and dice the ins and outs of affiliations. And if you can't get enough of it off of the podcast, maybe you want to us for a two-day "Working Group" session on "Mergers, Acquisitions & Affiliations" here in Charlotte on November 4&5 or 11&12. Interested in learning more or g...
Affiliations Strategy Details: the Interview with Ryan Metzler of Stock Legal
September 23, 2021 09:19 - 43 minutes - 39.5 MBThe "Affiliations Model" has generated a TON of interest and inquiries, so I decided to bring Ryan Metzler of the Stock Legal firm on the show to dive deep into the details. We slice and dice the legal context around ownership, fees, agreements, PIUs, change management and the potential journey at hand. There's so much to cover, we even decided to host a two-day "Working Group" session on "Mergers, Acquisitions & Affiliations" here in Charlotte on November 4&5. Interested ...
The NO DEBT Growth Strategy - Affiliations
September 16, 2021 09:12 - 36 minutes - 33.4 MBDo you always think of growth strategy as either buying or building your next location? Do you worry about the mounting load of debt you're also building? Well, this episode will create a dramatic change in the way you think about your growth strategy and the type of practice you typically target. Welcome to the latest innovation from Polaris - AFFILIATIONS! You may even want to take notes on this one! We cover all of the high-level aspects of Affiliations and things you...
Enterprise Software Strategy with Carestack's Jim Gerson
September 09, 2021 09:12 - 41 minutes - 28.7 MBYour practice management system should be one of THE cornerstones of your organic growth strategy, but all too often it's treated as just another marginal operational device. Carestack's VP of Sales & Marketing, Jim Gerson, gives us a LOT to think about when it comes to things like: historical versus predictive reporting capabilities; compliance versus strategic application; and increasing attraction and retention of new patients simply by making things convenient and effic...
Aligning Interests through Equity Structures
September 02, 2021 09:11 - 33 minutes - 30.6 MBIt's time to stop playing "small ball" with your emerging group. Equity may be your most valuable currency, so listen in as Diwakar and I unpack some of the ways to think about using equity to your advantage for growing your group. There's a reason so many Enterprise-level DSOs use an "equity roll" as a key selling point when it comes to convincing people to join their group - and you can do the same! We cover all of that along with the latest addition to our Data & Analyt...
Mergers Instead of Acquisitions?!
August 26, 2021 09:12 - 40 minutes - 37.1 MBWhen it comes to M&A, everybody knows the "A," but what about the "M?" On today's show we're putting the "M" in Mergers. What about using mergers as part of your growth strategy? How would you do it? What are some aspects to think about? Where are the opportunities? And how would mergers be different from acquisitions? Equity is your most valuable currency, so let's start thinking about it differently in terms of growing your business. All of that along with your host...
Getting Your Ownership Structure Straight
August 19, 2021 09:11 - 39 minutes - 36.2 MBYou bought or built your first location outright, then you added a second location with a 50-50 partner...and then you both went in on a third location with a third partner. Now you've all decided you need to form a management company because you want to grow to 10+ locations, so how do you figure out who owns what percentage of what?! Sound familiar? We encounter this scenario frequently and we've seen a LOT of it lately. Getting your equity "capitalization table" straig...
Book Review Topic: Hiring & People Management
August 12, 2021 09:12 - 42 minutes - 39 MBWe're always being asked: "Do you have any good book recommendations?" Well, here's our first of what will be many book reports. We'll be doing them by coordinated topics going forward and this first one is all about our favorite subject, "people management!" I'll give you a high-level overview of four great ones we recommend often: "Who: the A Method for Hiring" by Geoff Smart & Randy Street "The Ideal Team Player" by Patrick Lencioni "Who Not How" by Dan Sullivan "Owners...
A Deeper Dive into Tax Law Changes
August 05, 2021 09:11 - 47 minutes - 43.2 MBWe had a TON of feedback on our prior podcast (Episode #6) about the potential changes coming in the Biden tax package, so we decided to take a slightly different perspective from a tax attorney. I'll be joined on today's show by Erik Doerring, partner at Burr Forman. Erik shares his perspective of over 35 years of business and tax law. Together we discuss the potential impact on income earnings, investment and estate tax impacts. There's a LOT to unpack in this episode f...
Associate Equity: a Deep Dive into Profits Interest Units (PIUs)
July 29, 2021 09:11 - 32 minutes - 29.3 MBHaving trouble attracting and retaining associates? This episode picks up where the last one left off. My partner, Diwakar Sinha, joins me on the show and we take a closer look at an "earned equity" model called Profits Interest Units (PIUs). We'll talk about the mechanics of PIUs; where they work best; and share some client experiences in implementing the model. Plus a new addition to our Strategic Consulting team, Adin Bradley, and some good reading material: The Narnia Ch...
Associate Equity: a Deep Dive into Restricted Stock Units (RSUs)
July 22, 2021 09:17 - 48 minutes - 44.3 MBHaving trouble attracting and retaining associates? This episode picks up where the last one left off. My partner, Diwakar Sinha, joins me on the show and we take a closer look at an "earned equity" model called Restricted Stock Units (RSUs). We'll talk about the mechanics of RSUs; where they work best; and share some client experiences in implementing the model. That plus Ashley's question on COVID's impact on the industry and the Daily Dad Blog - all on today's show! Q...
Associate Equity: Attracting, Motivating & Retaining
July 15, 2021 08:12 - 33 minutes - 31.1 MBThe biggest problem facing group practices is attracting and retaining associates. If you can solve it, you stand a better chance of building and operating a successful business. Traditional "buy in" methods don't work anymore, so what's the solution? Our experience in Corporate America taught us that an "earned equity" opportunity is the best way to attract top talent, motivate them to produce high-level results, and retain them for the long haul. Tune in to find out mor...
Personal Journeys: Dr. William Harvey of Harvey Family Dentistry
July 08, 2021 08:13 - 45 minutes - 41.8 MBSometimes it's just nice to hear words of wisdom from someone who has already ventured down the path you're on. Dr. William Harvey gives his insights into the highs, lows and even natural disasters that could plague a growing business. I take a question on "the biggest challenge facing dentistry" and beg for some guidance from the audience on the best gourmet coffee machines.
The TOP 10 Metrics to Measure when Building a Successful Group Practice
July 01, 2021 08:16 - 36 minutes - 33.5 MBEver wonder which metrics or KPIs you should be focused on? Or maybe you're suffering from "paralysis by analysis" by focusing on too many numbers?! Here's your "TOP 10" list. This one is for all of you "data hounds" out there! Download a copy of the "TOP 10" right here: https://polarishealthcarepartners.com/free-pdf/ Listener question on "the impact of rising interest rates" and a great winery recommendation in Napa. For more information on Aonair: https://www.aonairwi...
"Don't Let the Tax Tail Wag the Dog" - the Eide Bailly Interview
June 24, 2021 16:14 - 55 minutes - 51.2 MBHere are the answers you've been looking for from the people who know! I'm joined by Scott Haberman and Mel Schwartz of the Eide Bailly accounting firm for some tremendous insights into accounting and tax considerations for those who are considering selling their business this year. Mel also gives us "the latest" update from Washington, DC on the proposed tax law. For additional questions, please reach out to Scott directly at: [email protected] I'm also joined by ...
Selling Your Business in 2021? Deal Structure Matters More Than the Multiple
June 17, 2021 08:16 - 37 minutes - 34.1 MBAre you committed to selling your business in 2021? If so, deal structure matters more than the multiple does - and we unpack both on today's episode. That along with some tax considerations, discussion on a sell-side "Q of E" and more. I take a question from a Specialist on DSOs eating up their referral base and how PowerDot can improve your athletic recovery after a hard workout. It's all on today's show! Send in your questions to me at Perrin@PolarisHealthcarePartners...
TWO Things to Know Before You Sell Your Business in 2021
June 10, 2021 08:17 - 30 minutes - 28.1 MBConvinced you should sell your business in 2021? You might want to slow down and consider a few more factors before you do so. Diwakar joins me on the podcast today to break down "the right time" to sell as well as some considerations around supply and demand. We officially launch Polaris's M&A services to the market. And I marvel at the patient outcomes of today's modern medicine. It's all on today's show! Questions or comments to either of us at: Perrin@PolarisHealthc...
Growth Strategies & "The Rule of 72"
June 03, 2021 08:13 - 44 minutes - 40.5 MBWe unpack the critical success factors when it comes to executing on your growth strategy for both DeNovo and Acquisitions. And how fast do you need to grow if you want to double the revenue of your business? The "Rule of 72" has the answer! We welcome Amy Tewell to our Data & Analytics Team. And if you're looking for inspiration in the kitchen, then check out "Recipe30" on YouTube! All on today's show! Submit any questions directly to me at: Perrin@PolarisHealthcarePar...
The Top 3 Challenges Every Group Practice Confronts
May 25, 2021 08:14 - 43 minutes - 39.5 MBLooking to launch your own group practice? Or maybe you've already started and are still early on in the journey. There are going to be many challenges ahead, but here are "The Big 3" that you should prepare for ahead of time. Want to submit a question? You can email me directly at: [email protected] Subscribe here: https://bit.ly/GPASubscribe
Blueprints, Templates & Frameworks to Build Your Own Group Practice
May 18, 2021 09:00 - 35 minutes - 32.3 MB"Can't you just give me a shortcut or a template to build a group?!" Well, NO, but we CAN take you through a lot of the questions you need ask yourself BEFORE you start down this journey. If you'd like a copy of the questionnaire itself, email me directly at: [email protected] Subscribe here: https://bit.ly/GPASubscribe
Trailer Episode
April 08, 2021 09:00 - 2 minutes - 1.99 MBYour primary resource for the education, tactics and strategies to help you launch and scale your group practice. We'll unpack the details of the guidance you need to have confidence in growing your business. Be sure to tune in or subscribe to get the latest episodes as they're published. For more information, please visit: www.PolarisHealthcarePartners.com And submit any questions or comments to: [email protected]