"You can get past the dead end. You can break through the ceiling. I did and so have countless others."
In this episode, Justin sits down with Brittany, a nurse practitioner who’s preparing to take the next step into practice ownership. Together, they discuss what it means to build a business intentionally, making decisions early on that can create more flexibility, sustainability, and long-term growth.
Their conversation explores everything from selecting the right services and creating recurring revenue streams to developing a marketing strategy that aligns with both personal and professional goals. Justin also shares practical advice on keeping things simple in the beginning, avoiding common pitfalls, and building a practice that’s designed to evolve over time rather than trying to do everything at once.
Whether you’re still planning your first practice or refining your vision before launch, this episode is a reminder that successful businesses aren’t built overnight. They’re built one thoughtful decision at a time.
00:00:02:12 – 00:00:24:07
Unknown
Greetings. This is just an hour for nurse practitioner. Welcome to the Elite Nurse Practitioner Show podcast dedicated to nurse practitioner entrepreneurism and achieving financial freedom, where I talk directly with nurse practitioners who need help. Listen up. Our market is saturated. Jobs can be scarce. We are underpaid. We are undervalued. We are taken advantage of by the sharks within the healthcare system.
00:00:24:07 – 00:00:47:14
Unknown
And frankly, screw that. Sick of it. It’s time for a change. And listen, I’m here to help make that happen. We are powerful. We can forge a path. We are in control of our career and ultimately our financial and personal well-being. You do not need to submit to healthcare ministry and your doctor who you don’t have to take the easily salary.
00:00:47:16 – 00:01:08:22
Unknown
You do not have to work 50 to 60 hours a week. There is a different way. I’m here to show you that path. This podcast is written for. I have not talked to the nurse practitioners of this podcast prior to the call. Outside of an email exchange to schedule the episode. What you’re about to listen to is a consultation session between the nurse practitioner and myself.
00:01:09:03 – 00:01:31:00
Unknown
It is real. Is it scripted? It is unplanned. I have no idea what we’re going to talk about. Anything and everything can happen. During our conversation, the nurse practitioner. These episodes are struggling with an issue in their professional or financial life. They have reached out to me for help. My goal is to help the nurse practitioner with actionable advice that will enhance their professional, business and financial life.
00:01:31:01 – 00:01:56:06
Unknown
My other goal is to hopefully help my nurse practitioner, sisters and brothers build a more productive, powerful and free life. So I hope the content information within these podcast episodes does just that. All right unto the upset everyone. Today we’ll be talking to Brittany who is a family nurse practitioner. Currently, she is operating her own wireless practice where she provides a variety of services including functional medicine, hormone replacement therapy and weight loss.
00:01:56:08 – 00:02:16:19
Unknown
She states the practice is doing very well, but she’s needing assistance setting up her business infrastructure, how to scale the practice the right way, and a variety of employee considerations. You know, you I’m doing well. Thank you for having me. I’m I’m very appreciative for this. No, no. For sure. Absolutely. I’m glad you’re on here. I’m excited to talk to you.
00:02:16:19 – 00:02:37:18
Unknown
So some of you have a very, you know, pretty successful practice. This isn’t a practice startup podcast, so I don’t get, I don’t get a lot of podcasts where the person already has an established kind of successful practice is looking to take it to the next level. So I’m excited about this one. So with that said, tell us a little about yourself, how long you’ve been a practitioner for and you know how you got to where you’re at.
00:02:37:19 – 00:03:04:14
Unknown
Yeah. I been a nurse practitioner since 2022. I, you know, originally started in urgent care, and then I ended up family practice. And, in that time, I really just fell in love with with weight loss, but more through a personal journey. But then I ended up studying more about obesity, medicine and then the functional. And then in that same time I was diagnosed with like Hashimoto’s.
00:03:04:14 – 00:03:31:08
Unknown
And so more of like learning for myself. And, you know, I had been a nurse, since, since I graduated from 2015. And I realized in that time frame that I had learned so many wrong things through traditional medicine and that’s kind of how I wanted to break away from that and do my own thing. I actually started my business literally May of 2025.
00:03:31:08 – 00:03:57:12
Unknown
I did both, I was working my full time job and doing, my current job now, just one day a week, and it just continued to bloom. And then I had to do two days a week to continue seeing patients. And then I actually quit my full time job as of March of this year. And to go full time and like I’m full essentially.
00:03:57:14 – 00:04:27:20
Unknown
Okay. So you are a product of urgent care. Yeah, yeah, yeah. It, I don’t know how I ever saw 60 or 70 patients a day was beyond me, but for those who have never worked urgent care, have no clue how much it fucking sucks. Yeah, it it sucks. Yeah. I worked urgent care for ten years.
00:04:28:02 – 00:04:56:07
Unknown
I don’t know why or how I survived that long, but. Yeah, yeah, yeah, I hear. Yeah. I think my record was 118 patients or something like that one day. I don’t, and that was before, like I charting like it was. Yeah, it’s 2019, 2020. Yeah. No. Yeah. Yeah. I don’t know how the hell I saw 118 patients by myself in 1 in 12 hours.
00:04:56:09 – 00:05:17:07
Unknown
I don’t think I got off on time. I got off at eight. Wow. That’s that’s even more impressive. Oh, yeah. Well, everyone got complete, total dog shit care that day, and everyone got whatever they wanted. I did not care what antibiotic and you get friendzone correct Z prednisone I really don’t give two shits what you want. Here you go.
00:05:17:07 – 00:05:37:00
Unknown
Yeah, it was just one of the I don’t I don’t have time to educate you about. This is a viral versus a bacterial infection. Here’s your fucking z pack. Get out of here. Yeah, but yeah. Anyway, so that was the final straw for me. I’m sure you had a few of those, okay. So you started this practice?
00:05:37:02 – 00:06:06:00
Unknown
About a year ago, then, give or take. So how is the practice doing? It is good. I am getting new clients weekly. I’m getting new inquiries weekly, so I’m averaging probably about 3 to 4 new patients getting on the books a week. I, I do everything, so I do all of the marketing, I do the labs, I call the patients, I recommend checking out schedule and I’m everything right now.
00:06:06:02 – 00:06:31:08
Unknown
And so like in my day to day stuff like my, my patient, my schedule is for, I one of my real the values that I kind of want to stay true to true to is not becoming like a windmill clinic where I’m kicking patients in and out, like in a 15 minute window. So I average about a 45 minute, appointment for all of my returning.
00:06:31:08 – 00:07:01:21
Unknown
And then I reserve 90 minutes for new clients. And, you know, so that is good. I work, 9 to 4 Monday through Wednesday and then, nine to noon on Thursdays. And I try to throw a Friday here and there if it fits with my schedule a little bit. Not not all the time, just because, you know, after hustling so hard last year, like, I kind of I’m kind of I want to use word burnout, but like, I put it in a wall and.
00:07:02:00 – 00:07:30:08
Unknown
Yeah. So yeah. Yeah. Okay. So where does the practice stand today? So you are working this practically by yourself. Sounds like you’re you have very little support. You’re busy enough to justify being there 3 or 4 days a week. So, you know, I mean, just a rough estimate. Work or whatever you’re comfortable with about what are you doing on a monthly basis right now, you know, gross revenue wise.
00:07:30:10 – 00:07:51:12
Unknown
Yep. 18 to 23,000. Yeah. Okay. That’s pretty good for a year in. Okay. So pat yourself on the back. That’s pretty good guy. You know, I would say that’s probably from all the people I’ve talked with over the last, you know, seven, eight years of doing this. I would say it’s probably above average. Okay.
00:07:51:12 – 00:08:14:17
Unknown
So, so you’re doing better than probably, you know, most people in about a year in. So, so don’t get, you know, don’t, don’t get this comparison sort of syndrome that a lot of people get. They compare themselves to other clinics. All these people are doing so much better than me and blah, blah, blah, blah, blah.
00:08:14:18 – 00:08:39:06
Unknown
You know, in reality, you’re like I said, you’re doing above average. And the people who have just a grand slam after 1 or 2 years is extraordinarily rare. They’re just right place, right time just happened to just, you know, it’s a lot of it’s just pure luck. So, so, so I think you’re doing pretty good. I would imagine your margins are 50%, give or take.
00:08:39:08 – 00:09:09:18
Unknown
Yeah. Yeah. Okay. So you replaced your salary essentially. Congratulations. That’s that’s a huge milestone okay. Well I was I was nervous and my husband had a get. Well he didn’t have to get but he essentially got a new job at the beginning of this year. That made it a little bit less of a risk for financially like the biggest worry is whenever you go self-employed is am I going to be making the same as what I was doing?
00:09:09:20 – 00:09:31:22
Unknown
And so, I mean, yeah, as long as, like, I can continue this, like, and that’s where I’m at, like, I don’t want to, like, I feel like I’m getting so busy that, like, my response time to the patients are getting slower. I’m missing phone calls. Like, getting back with them with labs is taking 3 to 4 days versus the next day.
00:09:31:22 – 00:10:00:21
Unknown
And, so yeah, well, like I said, congratulations. You replaced your salary. Mission accomplished. As far as your job goes. I mean, you’re, you know, you’re there. You’re you’re the job you have in your practice now, right? Like you’ve replaced your salary and you’ve done it over a period of a year, and now you’re getting to the point where you’re having growing pains, like you’re you’re at that critical crossroads.
00:10:00:23 – 00:10:28:10
Unknown
So, so what happens is at this state in really about any business, but specifically a medical practice, is that you hit a crossroads. This typically happens 1 to 3 years in. And so that’s why I mean, you’re above average is happening to you early, where you’re kind of doing all the work yourself. You know, you’re hustling, you’re calling patients, you’re doing the labs, you’re answering the phone like you’re it’s just it’s one man show, one woman show, right.
00:10:28:12 – 00:10:56:14
Unknown
So there’s a crossroads here. You got two paths to take. Path number one is status quo path kind of just contentment. And that’s where a lot of people go. They just become content, you know? And there’s nothing wrong with that if that’s your goal. You know, a lot of people’s goal is not to grow in scale. A business that’s generating 50,000 a month in profit, you know, $1 million practice, that’s that’s not a lot of people to go at all.
00:10:56:16 – 00:11:17:03
Unknown
A lot of people’s goal is literally to do what exactly it is that you’re doing. Work for yourself, making your own money, working three days a week, living your life. Right. So you can go down that path of contentment. Stay where you’re at. If you go down that path, I’d say by at least hire a medical assistant or something to help you.
00:11:17:08 – 00:11:47:23
Unknown
You know what I mean? All right. So that’s path. That’s that’s, you know, that’s that’s going left going right now. This other crossroads is the path of growth. It’s a path of scaling this thing. So if you’re looking to hire multiple staff members, another provider, you know, getting this thing to the next level to where it’s working more for you versus you working in it, you know, going from self-employed to being an entrepreneur.
00:11:48:01 – 00:12:09:06
Unknown
Okay. I would not consider yourself an entrepreneur at this point. You are a self-employed individual. Okay. Big difference there. I’ve talked about that in other podcast episodes before. A self-employed individual, somebody who starts their business and works for it. Right. And that’s what you’re doing. You’re self-employed. A true entrepreneur built a business that works for them.
00:12:09:06 – 00:12:33:20
Unknown
So they can do whatever they want, whenever they want with whoever they want. Like there’s no really huge time investment into it. They can have people working for them okay. Right. So those are the two paths. Which one you want to take. Both. Okay. That’s fine. Okay. Listen to one of your podcasts the other week. And it kind of gave me this is when I sent an email, like oh crap.
00:12:33:20 – 00:12:59:06
Unknown
Like I need to do something. But like, if something was to happen to me, I’m not working and then I’m not generating money. But I also don’t know if right now, like, is really an ideal time to even, like, bring on another provider, you know, like, should I realistically add in my, I think my biggest hesitancy with like the growth and this is where I’m, I still really stuck with this.
00:12:59:06 – 00:13:24:05
Unknown
Like how do I pay the said employee? But how do I have that employee? Like they’re just essentially taking money or time off my plate? But how does that how do I generate more money from that, that I’m not actually like losing money to pay their wage. Right. Well, then I think, what then would bring in another practitioner like and then that leaves in the next part.
00:13:24:05 – 00:13:48:05
Unknown
Like I’m kind of stuck in my small little rently so I don’t have like room for I don’t have multiple rooms that I could rent out for another said provider. Yeah. Okay. No, you want to go down more of the middle path right where you’re. Yeah. Finger on both roads, essentially. Yeah. Yeah. Maybe the girls like having that, like a five year plan to where to do that.
00:13:48:05 – 00:14:22:11
Unknown
Like, right. Right. You’re leaning more towards the right, but you’re still kind of on both on both roads. So you need to what you should strive for is the two week rule, okay. That’s what you should strive for. You should strive for meeting the two week rule. The two week rule is if you left on vacation for two weeks, would your business completely, fully operate on its own and still make the same amount of revenue without, you know, right now it would be stand still nothing, right?
00:14:22:13 – 00:14:43:12
Unknown
Right. So keep that in the back of your mind. Keep a two week rule in the back of your mind. That’s what you’re going to strive to do. Ultimately want to get to a point where it’s 3060 days. You can just leave, right? Yeah. So that’s your goal. So kind of keep that in mind. What do you need to do to be able to take a two week vacation?
00:14:43:12 – 00:15:03:00
Unknown
Still generate revenue and not have people blowing up your phone? Okay. So if you frame it that way and you make that the overarching found, you know, foundation, the goal of what you’re going to do, then it should keep you in line because you’re going to be thinking to yourself, okay, well, if gone for two weeks, who’s going to do this?
00:15:03:04 – 00:15:23:21
Unknown
Who’s going to do that? How do I delegate this stuff? Right. So it kind of gives you a little bit of a framework to work off of. So to answer your question a little bit more specifically though. So the fear, the fear that you have of hiring an employee, paying the set employee and then the fear of the unknown here.
00:15:23:21 – 00:15:43:10
Unknown
Okay, now this employee just took off all this work off my plate. Now, what do I do? How do I replace the money that I’m paying employee right. That’s a fear every business owner has when they hire their first employee. Okay, once you hire more, you don’t really care anymore because you kind of you understand how it works.
00:15:43:15 – 00:16:02:11
Unknown
So it’s just it’s that first time, there’s a first time for literally everything, right? And the first time is always the scariest time to do something. Either you chickened out, you don’t do it, then you live in fear for the rest of your life. Or you say, fuck it. You just do it. Get it done. Lived life experience and move on to the next one.
00:16:02:14 – 00:16:30:10
Unknown
Right? Right. So I think that to answer your question just at a very high level is, listen, just if you did not have to answer the phone, put in lab orders, order stuff from company pharmacies, medical supplies, all this busy crap, then how much time would you have estimated? Okay, just assume off the top of your head here.
00:16:30:12 – 00:16:55:11
Unknown
How much time a week would you have? Hour wise if someone was doing this stuff? Like, how much time would to save you in one week? Probably like 3 to 4 hours. That’s it. I’ve gotten really efficient at it. I do it, like, then, like, I mean, from, like, drawing the labs and putting in the lab order, things like that.
00:16:55:11 – 00:16:58:05
Unknown
Could.
00:16:58:07 – 00:17:24:13
Unknown
Save time, like I answer, I do a lot of that stuff outside of, like, the clinical hours I’m talking about. If you didn’t have to do any of that, you know, answering the phone. No labs, no lab orders, no nothing but clinical seeing the patient.
00:17:24:15 – 00:17:46:06
Unknown
I mean, who would I mean, probably like that 3 to 6 hours. I think it is to depending on on a week, but. Sure. All right. So then you start off with an Ma part time. Now the issue is, is that it’s going to be hard to find an Ma who just wants part time hours. Okay.
00:17:46:08 – 00:18:13:11
Unknown
Take the guy at least give him 32. So how do you. Okay. You have someone that’s there 32 hours a week. Okay. Let’s say that hour Monday Tuesday Wednesday Thursday Friday Saturday Sunday had a three day weekend okay I got him. Yeah. Almost practically full time work. Okay. And they’re there four days a week. So they are there now to do all the stuff you don’t want to do.
00:18:13:13 – 00:18:37:03
Unknown
All right. So how do you. So how do you pay for this person? Okay. Well, now how much extra time do you have now to see more patients. How many missed phone calls are not missed anymore? How many patients can you see same week that they call not booking out two three weeks in advance? How far are you looking right now?
00:18:37:05 – 00:18:59:20
Unknown
3 to 4, 3 or 4 weeks. Okay. You know, I’m sure maybe some patients fall off every once in a while because of that, you know, and maybe some patients never schedule because of that. So all of that now goes away. You can literally see patients same week sometimes sink day. Maybe you have if you have an open schedule right you will pay for that Ma in a matter of two months.
00:18:59:22 – 00:19:27:08
Unknown
I guarantee it. Y maybe even less than that. Okay, so I would not worry too much about it because now you’re going to be a hell of a lot more efficient at what it is that you’re going to be doing. You’re going to be able to see patients now almost exclusively, generating money. You’re you’re going to be focused on income generating work right now, not busy work, like, because right now you’re doing a lot of busy or you’re running this whole you’re doing the whole thing yourself.
00:19:27:10 – 00:19:49:03
Unknown
So you’re doing an enormous amount of busy work. I have a hard time believing that you’re only doing 3 to 6 hours a week of just busy work. But I mean, then again, maybe you are. I mean, you know, but I just I have a hard time believing that. I mean, this ma does runs the office for you, essentially.
00:19:49:03 – 00:20:13:05
Unknown
Answer the phones, everything. All you do patients, it’s literally it. Right? Right. So it gives you a little bit more time to to market the practice, give you a little bit more time to get the practice out there and increase patient volume. Okay. That’s what you should be focused on here is, you know, lead extraction and income generating work.
00:20:13:10 – 00:20:35:22
Unknown
So your job as a business owner, as an entrepreneur should be essentially two things. It should be marketing. It should be the income generating service. If you are the service provider you know, or if you are the product of the business right. So that’s what you would spend your time doing. And you you’ll pay for that Ma in literally no time.
00:20:35:22 – 00:21:09:22
Unknown
Do you have any idea what the average rate of an Ma in your area is? 18 to 22 an hour? Okay, so let’s say that say you’re on the high end 22. Right? I always recommend for a practice, always pay a premium because you get what you pay for. Okay. They will give a shit. You’re paying $20 an hour versus 18 that they work at the hospital system and work their ass off in some urgent care, primary care practice.
00:21:10:00 – 00:21:23:11
Unknown
You’re going to love you. They will stay with you forever. Okay? That’s 700 bucks a week at 32 hours a week. Okay? 700 bucks. All right.
00:21:23:13 – 00:21:43:05
Unknown
Give or take. Let’s just add employment, taxes and some other stuff to that, okay? You’re not to pay. It’s probably gonna be about $3,500, give or take a month. Is what you have to pay the same after it’s all said and done, employment taxes are factored into it. All that stuff. Okay, 3500 bucks, give or take. That’s how much you’re going to cost.
00:21:43:05 – 00:22:07:07
Unknown
You know, you said your margins about 50%. So on an average month you make about $10,000 profit. Correct your date okay. You’ve got to now it’s going to drop down to 6500 bucks. That’s a big pay cut. All right. It is the big pay cut. But I seriously think you will make that back within 1 to 2 months.
00:22:07:11 – 00:22:30:01
Unknown
So it’ll be one of those things where it’s just like maybe a little frugal for a month or two. But now mama’s got a shit ton more time. Yeah, well, like one of the other questions, I was going to pick your brain. And I think this is kind of where kind of like of, like my pricing. And I wonder if this is.
00:22:30:03 – 00:22:53:08
Unknown
So I have a mix between like self well cash pay like do they pay per appointment. So like I make them come in every three months and it’s $150 visit. Or they can do a membership model where I have it set up to where they can do so. It’s monthly and it might be they can it. It’s a follow up appointment monthly X amount discount on peptides, X amount discount on full scrips.
00:22:53:08 – 00:23:22:23
Unknown
And depending on the tier, it will include like $150 y panel. So I don’t have a lot of people on memberships. Not a lot of them I have for I think but I but my appointments are 150 across the board now. Am I kind of screwing myself with like so my new patients, like, if I do a 90 minute a consult on it, should I be charging more for those consults?
00:23:23:01 – 00:23:48:03
Unknown
Because they’re definitely way more time consuming. Or should I make that more expensive? Should I reduce it? And I think I also heard you say, like, like the peptides in the groups because everybody can get them. Also like a research place now. Like not a lot of people are going to be wanting to spend like books about money on it.
00:23:48:05 – 00:23:56:07
Unknown
So I don’t know, like if I’m charging too much for those, but I’m either on the flip side, people are paying for around.
00:23:56:09 – 00:24:24:07
Unknown
Yeah, I think, oh, you’re really doing your. So it is service with the payment model that you have now are you you make it a lot more money. You’re making. Okay. Now you pay 150 bucks per visit. And then you charge for the meds. Right. You know, so how often do you see the patients. On average every three months is, is required to continue refills.
00:24:24:09 – 00:24:46:09
Unknown
If we do a lot of changes and stuff I’ll have them do like a follow up the next month. The only thing that I really upsell is like the GLP and peptides. Now, if they’re getting hormones through a compounding pharmacy, I basically charge cost of it. Or like I’m not trying to do, like I want to make sure it’s still like affordable for them.
00:24:46:09 – 00:25:06:22
Unknown
And so this is where I’m like, okay, so okay. Yep yep yep okay. All right. So average. Then for each patient you say every three months. And then every once in a while you only do like a month follow up or something. Right. So on average then maybe like five visits a year probably. Give or take. Yeah.
00:25:06:22 – 00:25:21:01
Unknown
Okay. So that’s 750 bucks okay. On visits. That’s how much. That’s how much you’re averaging per patient. About $750 again give or take. Now.
00:25:21:03 – 00:25:47:13
Unknown
You’re charging cost for the hormones. So that’s running you what 50 bucks every two months or something on average maybe little. Yeah. Yeah I mean the testosterone is like $70 and the female testosterone, like 35. We have, like, compounding pharmacies here. So if they’re getting creams, they go there and pay for it.
00:25:47:15 – 00:25:59:02
Unknown
Okay. So I mean, you’re making you’re making no money there. Okay. GLP one’s peptides, how much are you charging? Those are.
00:25:59:04 – 00:26:07:02
Unknown
If I pay per vial, like, depending on the milligram of it, I mean, there’s at least,
00:26:07:04 – 00:26:34:06
Unknown
$150 increase per. And I don’t know if that’s awesome. A great way either. Yeah, whatever. I mean, okay, you’re making about 150 bucks profit on each vial of GLP one. Seem to touch his appetite. Yep. Give or take. Yeah. Okay. Yeah. Peptides. Average cost of a bottle of Somalians. 100 bucks. What? You charge of, highly correlated to 50.
00:26:34:08 – 00:26:58:15
Unknown
Okay, so about the same markup on peptides two is about $150. Yeah. The only one that I do like a little bit more is read a TrueType. Right. Sure. But yeah. And you should because that’s, you know, one of those questionable things to do. Yeah. I mean, most people are doing it, but you know. Yeah, you should it should cover your risk.
00:26:58:17 – 00:27:04:04
Unknown
Absolutely. Yeah. Okay. So.
00:27:04:06 – 00:27:32:17
Unknown
Okay. What percentage then. Estimate here. What percentage of your patients are HRT. Which percentage of your patients are weight loss. What percentage of your patients are functional medicine. Who would basically your three main big services kill. Probably 70 to 80% are hormone and thyroid patients. Sometimes a mix between they’ll get on a GLP probably about 20% weight loss.
00:27:32:19 – 00:27:49:10
Unknown
And then like the functional medicine side is pretty small okay for that. So the majority of your patients are HRT. All right. Out of all the patients that you have, what percentage of them take, you know, use a peptide.
00:27:49:12 – 00:28:10:08
Unknown
Probably about 50%. About half your patients are using the peptide as well okay. Yeah. Most of them are like GLP. You would be the primary one. Every now and then I’ll get somebody that is interested in those other peptides. But yeah yeah yeah okay. Test them all in or whatever. Okay. So.
00:28:10:10 – 00:28:43:23
Unknown
You are leading off the top of my head here. Okay. You could double your revenue by going into a subscription model, trim and change, nothing else. Literally just change it to a subscription model, double it. Okay. At my men’s health practice, as an example, we charge, you know, like 150 bucks a month. Okay. So we make it. So we’re making $1,800 a year on our patients.
00:28:44:01 – 00:29:10:16
Unknown
You’re making off your HRT patients 750 bucks. If you leave it, you’re leaving $1,000 a year off table. Okay. Like this. This is it. You know, this was something that was like 10%, 10 or 20%. I’d be like, you know, okay, not that big of a deal. This is this is significant. Like, I mean, you could literally almost make you could make more than double what you’re making now.
00:29:10:18 – 00:29:31:20
Unknown
It’s like going heart rate. Would that like when they need their testosterone refilled to you. Is that included or is that an extra charge? Everything’s included in the subscription. Okay. This is why having a medical assistant, that’s why I was on it. That’s why I was surprised. You only have 3 to 6 hours of busy work now, now I understand.
00:29:32:01 – 00:29:53:22
Unknown
Yeah, you you really don’t. Because you’re not doing that stuff with a subscription based model. There’s so much more busy work. Ordering from the compounding pharmacies is every single patient gets the medication from a compounding pharmacy shipped to them. Got to place the orders, got to verify addresses. Liars. A lot more busy work. Okay, that’s why I. That’s why I was kind of surprised.
00:29:54:00 – 00:30:15:12
Unknown
Okay. Okay. So yeah, I mean, you’re losing. Yeah. You’re leaving a significant amount of money off the table now, you know, you said about 50% of your patients take, you know, a peptide of some sort, GLP 1 or 10 smaller, smaller or whatever. So, you know, you’re making 150 bucks here and there, right? Like every 2 or 3 months off, some of these people, you know, 150 bucks here or there.
00:30:15:14 – 00:30:43:09
Unknown
So you know that $750 a month is probably, you know, $700 for the years, probably, you know, 50% of your patients are doing that. I’d say maybe it’s closer to $1,000 if you averaged it out and this is just super rough math, you know? But yeah, still though, okay, you could be doing a subscription based model making $5,000 a year off each patient, plus then paying for the peptides as well.
00:30:43:09 – 00:31:14:20
Unknown
On top of that. Okay. So your peptide pricing. Okay. You keep that same or lower just a little bit. All right. But your bread and butter here since 80% of your patients are HRT. You need to put them on a description based plain. Okay. Yum. Now though cheap asses will be pissed okay. A real cheap ass is that come your practice they’ll be the ones who, you know, throw fit about it.
00:31:14:22 – 00:31:40:14
Unknown
You’ll lose some of them. Just. You just need to expect it. Okay? If you start making exceptions for people, you’ll start making more exceptions for people. And before you know it, 50% of the subscription based model, where the other 50% are still due to the same old way. Sure, now you just made your practice so much more inefficient because now you have to keep track of who’s paying monthly, who’s paying per visit.
00:31:40:14 – 00:32:05:13
Unknown
Fuck all that, okay? It is subscription based. If you don’t like it, you’re more than welcome to go somewhere else. Here’s your refill. Best of luck. Okay, because even if 50% of the patients leave 50%, which is not going to happen, 50% of the patients leave, you’re still making the same amount of money. You’re making no, because you increased profit by 50%.
00:32:05:15 – 00:32:24:00
Unknown
Right? You increased your revenue. You doubled it. Yeah. So it half leave. It does. It makes no difference to your bottom line whatsoever okay. So 50% will not leave 20%. Probably will 2,025% will probably leave.
00:32:24:02 – 00:32:42:09
Unknown
All right I hope everyone’s enjoying the episode so far. I just wanted to take a quick break to thank everyone listening, and also give a big thank you to all of my social media followers and email subscribers. If you haven’t done so yet, please subscribe to our email list. WW, WW lead np.com and make sure to follow us on Facebook, Instagram and LinkedIn.
00:32:42:11 – 00:33:07:00
Unknown
Email subscribers will receive updates on new weekly podcast episodes, multiple weekly articles, we publish, new courses and everything else related to helping you succeed. Remember, all elite nurse practitioner courses are designed to help you build in each practice, increase your financial strength, and to break free from the rat race. If I can break free and other countless nurse practitioners can break free and so can you.
00:33:07:04 – 00:33:32:19
Unknown
Additionally, please share this podcast with your other nurse practitioner sessions. For others out there. The more NPS that venture out on their own, the stronger our profession will become. Now let’s get back to the episode. You would keep these on. Like seeing them every three months, or am I seeing them monthly for subscription? You’re seeing them the least amount you possibly can get away with.
00:33:32:21 – 00:33:55:22
Unknown
Okay. This is what makes you fissured. This is what turns this from being self-employed. An entrepreneur. You can get away of seeing your patients every six months even every six months. Cab guy the majority of my patients at my mental health clinic are seen every six months. So the majority of my patients I will talk with them 30 minutes total a year.
00:33:56:00 – 00:34:00:23
Unknown
Yeah, it’s a two 15 minute visits every six months. Like.
00:34:01:01 – 00:34:24:01
Unknown
That’s it. $1,800 for 30 minutes of my work. Yeah right. That’s efficiency. Okay. So, you know, that’s why I charge what I charge for consultations and stuff. That’s how much my time is worth. Right? So for you, I want you to give you the same place right now. Your time is worth 150 bucks an hour or so. Okay.
00:34:24:01 – 00:34:49:09
Unknown
Probably a little bit less if you factor it all in. So you need to move to a subscription based model for HRT. Okay. For HRT, average rate in the country is between 150 and $200 a month. Okay. That’s average depending on where you’re at, a little more expensive areas are 200 cheaper or 150. All right. That’s the average.
00:34:49:09 – 00:35:10:01
Unknown
I don’t know what the average is in your area. What I suggest that you do is you call up some competition in the region and see what they’re charging, and then kind of meet somewhere in between. All right. The biggest competitor here accepts insurance and they don’t have subscription. They also offer pellet. So yeah well you’re not doing the insurance model.
00:35:10:01 – 00:35:31:15
Unknown
So as far as I’m concerned that’s not really your competition. That’s a completely different model okay. In a way they are. But I mean they technically they are competition because you’re still, you know, but they are on a completely different model. Insurance in this space is a totally different game. I bet you the only way they the only way they make money is seeing patients because they got a bill insurance.
00:35:31:17 – 00:35:57:14
Unknown
Right. It’s a pill mill. It’s a fucking it’s a patient factory. You don’t want to practice like that, right? No. 20 patients schedule a day so you can charge insurance at nine nine, 203 or whatever. You know what I mean. That model sucks. That’s just busywork. So. So anyways, I would say if that’s your only competitor, then you are going to set the price for your area.
00:35:57:15 – 00:36:26:11
Unknown
So call within the region, other cities and stuff that have similar practices and see what they’re charging. So you get just a general idea okay. But anywhere between 100 and $5200 a month will work now because this is a huge transition for your patients, right? And for your practice. My suggestion would be is to call it 150 bucks.
00:36:26:11 – 00:36:50:02
Unknown
Go on the low end across the board with many practices. Men’s health is $150 a month. The women’s health is 200. Because women are generally you have to see them more often, it’s a little bit more complicated, etc., right? I mean, testosterone plays. A therapy in men is the easiest thing you can learn how to do. There’s nothing to it, so it requires very little time.
00:36:50:04 – 00:37:09:23
Unknown
You know, female HRT, it’s a little bit more complex. So you generally charge a little bit more for it now because you’ve already established this over a year and all your patients are used to what price it is. I would say just go in on the low end for your established patients. New patients who call, they don’t get that special rate okay.
00:37:09:23 – 00:37:31:09
Unknown
So they’re going to get a grandfathered rate. All your patients will. So you can keep as many as you possibly can. All right. So what you need to do is you need to figure out exactly what the prices are, what the prices are for these compounded hormones and all your and all the compounding meds that you use you to get the price.
00:37:31:13 – 00:37:49:14
Unknown
Okay. You need to use a compounding pharmacy. It ships to the patient. All right. You don’t want your patients to go to the company pharmacy down the street and pick up the hormones. Unless that unless that pharmacy is willing to bill you and just give the and just give the med to the patient. So ask him. Yeah. This conversation.
00:37:49:14 – 00:38:05:12
Unknown
Have a conversation with them and be like, listen, this is the model that we’re moving to. And you want are you on board or not? Because if you’re not on board, I’m going to go to fucking empower Pharmacy or Southlake or whatever pharmacy. I’m, I’m gonna go I’m gonna go with one of the nationwide guides. Sorry. Like just business.
00:38:05:14 – 00:38:25:10
Unknown
Okay. Yeah. So you just tell them, like, you build me. The patient comes in, just picks it up. That’s literally it. You just bill me because I’m going on a situation based model where the med is included. Okay? If they’re cool with that, go to you. Local pharmacy. All right. So. Yeah. So you need to figure that out.
00:38:25:12 – 00:38:40:00
Unknown
So use a local guy, use one of the nationwide ones if you want to, for the shipping. And just sending it to make sure that their house or whatever it is that you want to do. Okay. That’s up to you. At the end of the day, you should go with the one that has the best quality at the best price.
00:38:40:02 – 00:39:10:09
Unknown
All right. So, generally speaking, okay, this is just a real generalization, but at $150 a month, what you charge, generally speaking, for someone for hormone replacement therapy, what does that cost you. Right. How much is going to cost for the hormones and then the storages and the supplies and stuff? On average, anywhere between 25 to 50 bucks a month.
00:39:10:11 – 00:39:38:12
Unknown
That’s just very generalized average. And it really depends on what is it you’re giving them. You know, a three hormone combatted creams more expensive than a little tiny vial of financials of, you know, just testosterone siblings, you know, sibling. So anyways, regardless, the marginal $150 is I mean, it should be 70% or so, 75% maybe. Okay. So the majority of that it’s pure profit.
00:39:38:14 – 00:40:07:11
Unknown
All right. Now the peptides GLP ones and stuff okay. How many of your patients are just purely weight loss? Not that would I? It always ends up kind of tying into hormone therapy. So, I mean, probably just purely weight loss, maybe 5%. Not that many. Okay. So then you can create a weight loss subscription if you want for the weight loss only patients.
00:40:07:13 – 00:40:45:13
Unknown
Okay. But the weight loss should be an add on. Weight loss peptides should be an all a cart kind of thing and add on to the base foundational HRT monthly price. Okay. And just lower, lower the price of it. And I would just lower the price of it. Correct. So if you’re up, you know, if you’re up charging it 150 bucks, just upcharge it 50 to 100 bucks instead because, you know, yeah, you maybe you make money with it, you know, but you’re making majority of the money with the monthly subscription over here.
00:40:45:15 – 00:41:16:12
Unknown
Okay. The other things are more of a means for the patient. Just, you know, a nice little extra revenue generator. All right. Yeah. So that’s how I would really that’s how I would structure all of this. Your functional medicine. Functional medicine is one of those things where typically charging per visit is really probably the way to go. Because those patients are so complex and you’re spending so much time with them that, you know, charge appropriately for the hour and a half of time that you spend with them.
00:41:16:12 – 00:41:47:07
Unknown
Okay, you could go with a subscription based thing with functional medicine if you feel like it’s justifiable. So, you know, if you’re seeing these patients that are very regular basis, you know, hey, my functional medicine program is $200 a month. It’s kind of like a DPC kind of thing, but it’s functional medicine. Okay. Right. Yeah. Or you can make a subscription out of it and you can include some supplements or peptides or whatever, some common things that you, you know, prescribe to your functional medicine patients.
00:41:47:07 – 00:42:11:00
Unknown
You can include that in the subscription to justify the subscription price. Yeah. Our focus on medicine is $250 a month, but it also includes your vitamins and, whatever. You know what I mean? So just you’ll need to figure that one out. Well, right. But your goal at the end of the day, the your goal with the subscription, okay, is you’re you’re generating a profit of about 120 bucks a month.
00:42:11:02 – 00:42:38:20
Unknown
That’s your goal. So you price it however you need to price it to generate $120 a month in profit. Any questions? There? Do you think I should implement this like at the beginning of the year? Like to change. No I no I didn’t it is such positive. Can can. Yeah. And it’s scary to do that I get it.
00:42:38:22 – 00:43:04:08
Unknown
But I mean you’re going to lose patients. So I just want you to go into this with a realistic expectation. You will lose patients but you’re going to double. We’re here. Your revenue can. You just went from $20,000 a month to 40. Congratulations. You just gave yourself a hell of a pay raise. Yeah. And now you can pay for that.
00:43:04:08 – 00:43:21:21
Unknown
Nah. And not even think twice about it. Yeah. So, I mean, I have about I have about 350 patients. Oh, that’s $52,000 a month. I don’t know what to do with that kind of money. Oh, you’ll figure it out.
00:43:21:23 – 00:43:47:18
Unknown
Figure it out. Trust me. Trust me. You’ll figure it out for, you know, you’re. Yeah. The next question was, I don’t know how I feel about it, but I also know that tell it places do really well, and we have a couple here, but I don’t think they come with what I can bring as far as the education and all, like the foundational stuff, I don’t know if it’s worth it.
00:43:47:18 – 00:43:59:22
Unknown
It is it not worth it? My thought with public is once they’re in there and and I normally see more complications in people loving them.
00:44:00:00 – 00:44:25:00
Unknown
If people are asking for it, offer it. Okay, okay. Offer it. Get them in the door. Spend the time with them and try to convince them not to do the pellets. But if they want the pellets, fukkit give them the pellets. Okay, there are just some people who are hard headed. You know, my girlfriend over here got them, I want them.
00:44:25:01 – 00:44:47:04
Unknown
I’m not going to listen to anything that you say. Even though cream is so much more efficient and so much better. They’re not going to care. Okay? And then whatever, give the pellets 800 bucks to get great margins on it. So from a business perspective, absolutely. Why don’t you offer them it’s easy. Pellets are super simple. I never took a train for pellets at all.
00:44:47:04 – 00:45:12:06
Unknown
I watched some YouTube videos. I did it like it’s not complicated. You start. I’ve put a pellet in. It’s working hard. Yeah. So, you know, you and you get the pellets from compounding pharmacies. Do not go with some company like buyout, please. Yeah. That was that was one of the things like I definitely don’t want I don’t want to have to meet a quota or whatever.
00:45:12:07 – 00:45:33:05
Unknown
Now unless they take 50% of your profit. Screw that. You’ll need them. You can you got to go through apps Belmar or whatever it is or you know, empower and to get the pellets to do it yourself. Keep all the profit yourself. Do not go with a company like biotech. Total rip off. You don’t need them. It is not complicated.
00:45:33:11 – 00:45:55:13
Unknown
Pellets are pretty easy to do. So yeah, I would say if people are asking for it, do it. Okay with pellets. It’s not that pellets are not subscription pellets are you? Pay for them upfront. Okay. Right? Right. Yeah. But would you keep them still in the subscription model. And then they pay for the pellet when they come in for the pellet insertion.
00:45:55:15 – 00:46:14:05
Unknown
Yeah I would either. There’s there’s really no there’s really no subscription with it. Like the visit the pellet insertion. The whole thing should be included one one price. Okay. So yes, if you want I don’t know, you know, a couple pellets inserted, whatever it is, whatever dose you’re putting in, you know, it’s it’s it’s just kind of the same price across the board.
00:46:14:07 – 00:46:36:16
Unknown
It’s $800. That includes the visit and that includes the pellet. Okay, okay. And then when they come in, that’s when you try to sell them on, you know, a cream or something instead, because it is just clinically it’s just a better thing. But at the end of the day, if you do the math, you know, you’re inserting pellets every six months at seven, 800 bucks.
00:46:36:18 – 00:47:04:22
Unknown
I mean, if you do the math, it’s it’s the same thing. Cream pellets, injections at the end of them, at the end of the at, you know, the end of the year, it’s literally the same. It’s the same amount of money. So it’s whatever. Right. From a business standpoint. So, so yeah, now one thing I do want you to consider doing, since this is a big change for you, is do not and do not institute this change to 100% of your patients.
00:47:05:03 – 00:47:27:12
Unknown
Right. Just right from the get go. Okay. Do blocks at a time, okay? 20, 25% of patients at a time. Okay. Pick the ones you like. Okay. This month I’m going to do it. The patients that I’m talking with this month, seeing patients this month, this is what I want to do next month will be the next and then the next month the next.
00:47:27:17 – 00:47:49:21
Unknown
You know. So do you see patients every three months? It should be split out, you know, 33%. You know, like like you know what I mean? Like every month. No. Okay. Yeah. Like I mean, this is how we’re moving. Sell it. Yeah. Exactly. Do not make use of an email announcement or call them or anything like that. So we talked about in person I was last email and I backed myself.
00:47:49:23 – 00:48:17:12
Unknown
Yeah. Patients calling you. And it’s been a total utter disaster. So yeah, this is something that you just talk with them in person over the phone, whatever, and be like, hey, listen, this is the new model we’re going to. And they asked why you could just simply just tell them it’s because the cost of all of this stuff has gone up, and I’m not making enough money to really justify me doing this anymore.
00:48:17:13 – 00:48:36:00
Unknown
Sure. So I’m sorry, but this is what it is. If this is not good for you and I wish you the best of luck, good luck trying to find this cheaper. It just good luck. I just don’t think you’re going to be able to find a cheaper one, and chances are they’ll go out, look for it. Most people will come back.
00:48:36:02 – 00:48:55:14
Unknown
Promise they will. Do you have any suggestions? I do see a lot of lower income people that my heart just aches for. And they they scramble pennies to pay for the clients like I’ve been trying to think of, like, how could I get a good grant from the community? Do you know of anything like more external versus community for like funding for this?
00:48:55:14 – 00:49:21:02
Unknown
Like, I don’t want it to be so unobtainable that like, you know, like I want to make sure this is accessible. But I do know that income like, is out of my exclusions. So I make a few exceptions at my mental health clinic for some patients like that. Okay. But there are some patients that are just super sweet guys who are just working their ass off.
00:49:21:02 – 00:49:46:07
Unknown
Like I had this guy who works, this guy, he’s, he’s an Hvac technician at, like, the community college. Okay. Sweetest guy in the world. He’s always smiling and laughing and cracking jokes and stuff. And you know, the guy makes $40,000 a year or something. You know, like asking a guy like that to pay 150 bucks a month is.
00:49:46:09 – 00:50:08:19
Unknown
It’s a lot of money to someone like that. Right? So for him, it’s 75. Sure covers our costs. We make, you know, make 25, 50 bucks or something, you know, like we don’t really make money off of it. But yes, I do make some exceptions for some people. So the thing is due to do not make that the like, do not make the exception.
00:50:08:19 – 00:50:33:22
Unknown
The exception. Okay. Like do not make the exception like something that you’re doing more often then subscription. You know, you know what a lot of these people do for a living. You know like you know what these people are doing. You know, if they’re full of shit or not. You know what I mean? Like, do come on, you’re a chemical engineer.
00:50:34:00 – 00:50:49:05
Unknown
$150 a month is hard for you, right? Fuck that. Here, quick. You know what I mean? Like, yeah. They’re just so people who are just really, really cheap asses. And those people are going to be the ones that bitching, complain about it.
00:50:49:07 – 00:51:12:18
Unknown
Better just let some of those people go, okay, I don’t predict that it’s going to be a complete disaster for you. I mean, I don’t know. I mean, you tell me because I don’t have no clue where you’re at. I don’t know what your patient, you know, mixes like I mean, what do you what would you suspect? The average, you know, yearly income of your patient is I know what my meds, health practice.
00:51:12:23 – 00:51:45:20
Unknown
I would guess 80,000 a year is about what I would probably get, you know, I mean, I would probably range it from 50 to 80. I have a couple of people that probably bring in six figures. Yeah. Okay. So very middle class kind of kind of folks in your area. Yeah. So, you know, $150 a month.
00:51:45:22 – 00:52:16:12
Unknown
You know, someone’s making $50,000 a year. You know, they’re gonna be paying $1,800 a year, you know, $1,800 a year. I mean, you’re asking this person to essentially give you 3%, 4% of what they make in a year. Yeah, right. It’s a pretty big ask when you really think about it. You know, pump the value up as much as you possibly can to justify it, okay.
00:52:16:14 – 00:52:43:09
Unknown
With cheap things like B12 injections as an example. Okay. Dirt cheap cost nothing. You know, vitamin D injections for vitamin D’s, low vitamin D injections cost nothing. You know, I mean, that’s what I’m talking about. You know, you could you could beef it up and just say something along the lines of like, hey, listen, I know this is, you know, a big increase.
00:52:43:11 – 00:52:58:21
Unknown
I break the math down for some of these people, just kind of just break the math down for them. Listen, this is what you’re paying already. This, this is only going to be an extra $300 a year total. Like, I’m not asking you for crazy amount of money here for a lot of people I know. Probably, you know, probably true.
00:52:58:23 – 00:53:20:17
Unknown
But increase the value with it. Tell them. Hey, listen, this is subscription based, okay? This is a concierge clinic. Now, essentially, you got a problem. You got a sinus infection, your kid got strep, you got a sore throat. All you gotta do is text me, send you a Z pack. Just mean, like, you know, that kind of thing.
00:53:20:18 – 00:53:41:01
Unknown
Oh, you know, some some guys, like. Man, my sciatica is killing me. Yeah. You got you got anything for me? Yeah. Come on. It’ll give you. I’ll give you a charge. Ten milligrams of dexamethasone. Okay. You know, charge for it. But you know what I mean. The shit cost you pennies. The in the cost thing, right? So that’s what we do at my mental health clinic.
00:53:41:03 – 00:54:02:13
Unknown
If these guys want something I use, I just give it to them, I don’t care. I manage your blood pressure. I’ve got the cholesterol meds, I don’t care, you know, I don’t charge extra for that stuff. And you shot a lot of a lot of the my patients, they end up leaving their primary care and I end up managing.
00:54:02:15 – 00:54:29:08
Unknown
There you go. If it’s not complicated stuff, why not? Yeah. Yeah. Do you have, any other suggestions of, like, more passive income? Not aside from like, membership models, like how they can continue to generate revenue. I mean, honestly, with a practice, it’s it’s mostly gonna be the subscription based stuff. There’s not really a whole lot of other passive things you can do to it.
00:54:29:10 – 00:54:45:07
Unknown
I mean, there’s supplements and, you know, you can dispense medications and kind of like a pharmacy sort of a thing out of your practice if you want to. It’s, you know, pretty passive in nature. I mean, just whatever. It doesn’t really require your time to do, but at the end of the day still requires you to, you know, place an order or whatever.
00:54:45:07 – 00:55:09:18
Unknown
Right? So I think the best way to develop passive income in a practice is the it’s just the subscription based care. It’s how you get paid for two weeks time off, get two weeks off. No problem. I don’t go see no any more new patients. Monthly subscriptions are still rolling in, that you put their medications on like a 30 day supply or like as they pay.
00:55:09:18 – 00:55:35:23
Unknown
Like what? What is how do you handle say okay, and then they decline there or they deactivate their card or whatever, and then they’re still getting their medications yet. Yeah. Well, okay. So if you’re shipping the meds from the compounding pharmacy then shipping costs are something you had to consider, right? So with most of my patients, my mental health practice, 2 or 3 months at a time, we give them, okay, let’s patients not screw you over.
00:55:36:03 – 00:55:57:05
Unknown
They screw you over. They know they’re not gonna get any more. I mean, you know, so I wouldn’t worry too much about that. All right. Yeah, I wouldn’t I wouldn’t worry too much about. I mean, most people will not screw you over. You can get one and you’re there. You know, most people won’t.
00:55:57:07 – 00:56:07:08
Unknown
Can they do? Screw you over. No refills. Right? I’m like, give me a refill. Do you pay me back for these last two months? Supply that. Yeah.
00:56:07:10 – 00:56:27:03
Unknown
Do you up. Charge your labs that you’re drawing? I would, yeah, not by much. 50 bucks or something like that. But you should allow the patients use your insurance for labs that they want to do. Yeah, I get, they get, they call me and they’re like, this bill is $2,000, and I. I told you, my prices are way cheaper.
00:56:27:03 – 00:56:54:06
Unknown
Like one of my female lab panels. It cost me $170. I charge them 180. But I think I like looking at my financial statements like a big amount of my monthly payments. Aside from like buying the peptides is paying for the labs. So I kind of feel like, especially if I’m having my ma do it, I feel like that’s where I can flex the cost to offset them.
00:56:54:07 – 00:57:10:05
Unknown
Closing the gap, right, like 250 for these panels. And I’m like, oh God, I’m really solid myself. Short here. Yeah. You know, you could, you know. Yeah, you can upsell it. I mean, at my mental price, we it’s like 50 bucks. We like, you know, we charge about 50 bucks more than what it costs us. Okay, okay.
00:57:10:09 – 00:57:27:04
Unknown
About 50 bucks about what we do. But, yeah, I let my patients. I’m like, hey, exactly. You can use you can use your insurance if you want to, but I’m just giving you a heads up. You might get some crazy bill from the lab. That’s. And that’s on you. Sorry. So, Yeah. Yeah, but what is your insurance?
00:57:27:04 – 00:57:46:15
Unknown
By all means. Here you go. Here’s at work or wherever you want. And that. And that saves a lot of money to some people. That. And then they can afford $150 a month, you know what I mean? They can use or injured. Yeah. Yeah. In their questions. I could probably I could do this a long time, but no, those were that those are kind of the big ones.
00:57:46:17 – 00:58:05:04
Unknown
How do you navigate. So I do have some people that, that their insurance pays for their hormones, like if they’re on an extra dial patch or they want to use commercial testosterone, still make them pay the subscription like it is what it is. You’re going to get hormones from me, you can use your insurance or I can pay for them type of thing.
00:58:05:06 – 00:58:30:15
Unknown
Yeah, they want the commercial stuff. Yeah, they want the commercial stuff from Walgreens or whatever. It’s just sorry. This is just this is what we do. You know, if you really, really want the commercial stuff, then set up $150 a month. 200. Okay, I’ll send the prescription where you want. Okay. Basically just deducting the cost of the med from from your end, you know what I mean?
00:58:30:17 – 00:58:33:07
Unknown
You.
00:58:33:09 – 00:58:47:05
Unknown
Okay. Yeah. No questions. No. I really appreciate your time. You’re welcome. I like the, So you’re asking me a question? You have a question for me? Curiosity. Question?
00:58:47:07 – 00:58:52:10
Unknown
I yeah, I have, I have,
00:58:52:12 – 00:59:03:18
Unknown
Out of everything that you’ve known, like, if this was your practice, what would your next 12 months look like? And, like, what would you do for a second and third?
00:59:03:20 – 00:59:40:18
Unknown
Number one, description based pricing. So this is was my practice, right. And I’ll be honest with you, this was pretty much my practice back in 2019. Okay. Like pretty much I would go subscription based pricing 100% gay. I would hire a medical assistant at 32 hours a week. Okay. To get the. Trust me, when you start going subscription based, you are going to need their help because now you have to place all these orders with company pharmacies, verifying all that stuff, making sure payments are going through like you’re going to need their help.
00:59:40:20 – 01:00:11:10
Unknown
Okay, so I would definitely 100% hire a medical assistant. And then, how big is your space? I have two rooms. All three of you going to count the bathroom? So I have a pretty giant office. It’s about 700 square foot. I probably have 1200 square foot. All right. No reason to move. Stay there. And then, we’ll do what April of next year would be when, like, my lease would be up.
01:00:11:12 – 01:00:40:22
Unknown
Okay, well, I think you. This is plenty of room for you to grow quite a bit. Okay? I don’t think you need anything bigger than this. So, description based pricing, medical assistant. And I would begin experimenting with some different marketing strategies. I don’t know what you’re doing from a marketing standpoint if you’re doing anything at all, but I would begin playing around with spending some of that extra money trying to increase patient volume.
01:00:41:00 – 01:01:09:18
Unknown
Okay. And get to the point where, you know, if it was me getting the point where I am maxing out my schedule, I’m maxing it out. Like when I am there, this is what I’m doing and I’m maxing it out. So that way I’m using up all of my time to generate income because when it’s my business, I don’t want to go to my business and sit around and twiddling my thumbs.
01:01:09:23 – 01:01:39:22
Unknown
When an employee, when employers pay me, then that’s fine, right? But this is my business. I’m going to be there to see patients generate income and then leave. So I would fill up my schedule to the brim. And then once I am booking out at two weeks, then that’s when I would start calling some NP friends of mine that I, you know, that I know in the area and asking them, hey, one can work ten hours week in contract call.
01:01:40:00 – 01:01:59:20
Unknown
That’s how I would do it. And then they would see their own patients, not my patients. Correct. Unless you wanted them. Unless you wanted to send some easy, you know, follow ups or whatever to them. Sure. But correct. Start building them. Start billing them. A patient senses all new patients coming in. See them unless they just are adamant they want to see you.
01:01:59:22 – 01:02:08:14
Unknown
Okay. That’s how that’s that’s exactly what I would do. What would you pay them?
01:02:08:16 – 01:02:25:09
Unknown
At $150 a month for subscription. And, I think I probably do them the exact same thing I do with my, my, my NDA, 100 bucks for me visits, $50 for follow ups. Because at the end of the day, they’re only going to be seeing these follow ups every 3 to 6 months, 50 bucks, you know what I mean?
01:02:25:09 – 01:02:50:01
Unknown
So like if you if you do the math, $100 for the new patient, then they see the and then they see the patient for 3 or 4. Follow ups throughout the year. So you’re paying this individual $300 to manage that patient for the entire year. So your $1,800 just went down to $1,500. You’re still making a hell of a profit.
01:02:50:03 – 01:03:12:16
Unknown
Sure. Okay. Okay. Yeah. So all right. Well all right. Cool. Well, it was a good call. Listen, if, integrate this stuff, I would love. I would love to get another call with you, I really would. I think it would be like. I think it’d be very fruitful. So what I would advise that you do is do this stuff, give it a couple months if you are, if you are experiencing a significant hiccup.
01:03:12:18 – 01:03:28:20
Unknown
Okay. Email me when you do. You know a podcast same week kind of thing if you want. So we can do a follow up or give it the full 3 or 4 months. Come back that you have some questions about how to now. Now how the hell do I manage all this? Yeah. Okay. Yeah. All right, all right.
01:03:28:23 – 01:09:35:01
Unknown
Cool. Awesome. I appreciate your time. Thank you so much. All right. Take care. Bye bye.
01:09:35:03 – 01:09:54:12
Unknown
Thank you for listening to the show. The legal disclaimer the content of this podcast is meant for informational entertainment purposes only and should not be used as legal, financial, medical, regulatory or practice. Specific advice for information pertaining to your specific legal, financial, medical, or practice specific needs. Please be sure to consult with your lawyer, CPA, medical director, and or your States practice laws and the most up to date clinical guidelines.
01:09:54:13 – 01:10:06:09
Unknown
As always, do your due diligence when it comes to any other information found online in podcast. The content in this podcast is copyrighted by Galaxie Medical Southwest 2023 and cannot be duplicated. Rebroadcast it or reproduced without our written permission.
