"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 Danielle, a women’s health nurse practitioner preparing to launch her own wellness and longevity practice. They discuss how to structure services and pricing, create subscription and package options, increase patient lifetime value, and position a practice around a clear value proposition.
The conversation also covers incorporating complementary services, setting boundaries with patients, creating different levels of access, and knowing when the time is right to transition from full-time employment into the practice. Justin and Danielle also explore why longevity may offer an opportunity to stand out in an increasingly competitive wellness market.
For nurse practitioners preparing to launch or refine their own practice, this episode offers practical ideas for building a business around your expertise, your patients, and the kind of career you want to create.
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 – 00:01:53:05
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. To the upset. Hey everyone. Today we’ll be talking to Danielle, who is a women’s health nurse practitioner. Currently, he’s working full time at a hospital based outpatient clinic.
00:01:53:07 – 00:02:13:20
Unknown
She’s getting ready to launch her women’s health wellness practice role. She’ll focus on wellness services, hormone replacement therapy, and longevity, sustaining assistance with developing and prices pricing packages, how to set boundaries with patients, and how to transition from working full time to focusing on the business. Hey, Danielle. Are you. I’m good. Thanks for having me. Yeah, thanks for hopping on here.
00:02:13:22 – 00:02:32:13
Unknown
So tell us a little about yourself, Holly, the nurse practitioner for. And, what you been up to? And what are you getting ready to, get into? Yeah. So I’ve been a nurse practitioner for about eight years now. I’ve always been interested in women’s health, even, you know, once I was going through my undergraduate nursing program, I knew that that was where I was headed.
00:02:32:15 – 00:03:02:08
Unknown
So naturally, I went into women’s health nurse practitioner program and graduated. I immediately went, actually into working in a prison for a while. And then from there, I got a job at my current practice where I’m working, like in an outpatient hospital, women’s health clinic. So, yeah, I’m at a place now in my career where I’m ready to take the next step into opening my own business, and I’m supposed to be launching my, my official business this October.
00:03:02:10 – 00:03:20:17
Unknown
July. Exciting. Before we dive into your business and all that kind of stuff, I’m curious. So this prison work that you did, was that that, like a women’s prison? It was. It was in a women’s prison. And I was like the ObGyn practitioner for the whole women’s prison. So it was really intense. Yeah, I bet that was interesting.
00:03:20:19 – 00:03:38:06
Unknown
It was it was a lot to be, like, thrown into that type of job as your first like job as a nurse practitioner. And there are like, there’s no one else really there that like, you know, when things go crazy, like how to like, handle it. So you kind of just like learning as you go. It was really I learned a lot.
00:03:38:06 – 00:03:59:11
Unknown
I’ll give you that. I learned a lot. But it was a very intense job. Yeah I beg. Funny story. It might be a little inappropriate, but whatever. So when I was, I think I was like 17 or I, got my license and I got my car, and my mom gave me the money to go pay for to buy my, to buy my car insurance.
00:03:59:11 – 00:04:14:10
Unknown
Right. And of course, I’m 16, 17 years old. And I was like, I don’t need any car insurance. So, like, I just took the money and me and some friends were like, let’s drive down to Florida. So we were in Tennessee, so let’s drive down a Florida for spring break. And mind you, I’ve been driving for two weeks.
00:04:14:10 – 00:04:35:00
Unknown
Okay, so we’re gonna drive all the way down to Florida, and we hit down a little bit south of Atlanta and my tire blows, and I had no idea what to do. I think the engine falls out of the car. And so I just, like, swerve through like three lanes of traffic in, like, Atlanta and I hit a car on the way to the guardrail going 80 miles an hour.
00:04:35:03 – 00:04:56:01
Unknown
How we didn’t die is I? No clue. But anyways, we hit this Lexus right? And the cops come and stuff in there and they ask me for proof of insurance. Oh, like I don’t have insurance. And so? So they arrest me. I’m 16, 17 years old. I mean, like Macon County, Georgia. They arrest me. They take me to jail, right?
00:04:56:03 – 00:05:11:10
Unknown
And they start scaring me because this is what they’re going to do. You know, a kid, I mean, I’m like, do anything warrant staying at night jail, right? So. So they start scaring me, and then they then they tour me around the jail, you know, basically saying, hey, listen, that’s where you’re gonna sleep tonight. That kind of stuff.
00:05:11:12 – 00:05:28:12
Unknown
And they show me the women’s, the women’s part of the jail or whatever. And I remember, I don’t know why I remember this. I remember the the prison guard or whoever it was was like. And, boy, let me tell you, those women in there will fight over a pickle. Well, I was like.
00:05:28:14 – 00:05:55:22
Unknown
I didn’t really I didn’t really get that joke at the time, but now I get it. Like, yeah. So anyways, all right, let’s move on. It was a anyway, so intense. But yeah, lots of interesting stories to tell for sure. Oh I’m sure. Yeah. Okay. So is your goal to move from from your job into your practice full time?
00:05:55:22 – 00:06:13:06
Unknown
Is that kind of your ultimate goal? Yeah, I’d say so. I would ultimately like to see myself like, this is my full time gig. I’ll be much closer to home, have more, like, time with my kids and family. That’s pretty much my big reason for wanting to do this. And also just hopefully for more financial security down the road.
00:06:13:06 – 00:06:31:12
Unknown
That that would be nice, too. Yeah, sure. Okay, so your plan is, is to continue working full time and then you’re going to do this women’s health practice, I’m assuming, just kind of on your day off. Yeah. So like evenings in the beginning evenings and some weekend time as well is what I’m looking at for now. Yeah.
00:06:31:12 – 00:06:55:22
Unknown
Okay. That’s fine. That’s how you should do it, to maintain your kind of financial stability and whatnot. So, so. Okay, what have you done? You said you’re launching in October. We’re recording this in August. So have you pretty much got the most things done, or are you still kind of building this thing out? So a lot of the logistics in terms of like, I have rented out an office space that’s already in an established business.
00:06:55:22 – 00:07:22:03
Unknown
So that works, I think pretty well for me, because I’ll already have people that, you know, more visibility for that. So that’s good. I’ve set up I have an idea of what I’m going to use for my, electronic health record system. I, you know, I think I’ve got a lot of stuff in place, but I’ve kind of hit this roadblock with the, financial, like figuring out how to set up the programs and how to price them.
00:07:22:06 – 00:07:44:03
Unknown
I think I’ve gone back and forth in my head 100 times and changed my mind a million times, and I just feel like I’ve gotten to this point where I feel a little stuck, and I don’t know how to move forward. Now. Yeah. Okay, so the business infrastructure is basically in place, I would say. So. I mean, I’ve got, you know, in terms of the infrastructure.
00:07:44:03 – 00:08:03:13
Unknown
Yeah, I’ve got like my website up, I’ve got the IRA up. I still need to do some, you know, more input on that and getting that completely ready. But I’ve contacted Access Labs. I have an account with them. I’ve got some compounding pharmacy. A provider at a couple compounding pharmacies, so that’s good to go.
00:08:03:15 – 00:08:25:20
Unknown
So I feel like a lot of the big stuff, is taken care of, and, you know, it’s more like little stuff now, but it’s, you know, I, I think I’m at that point where in order to move forward with a lot of stuff, I have to nail down my pricing, and my packages are going to cost and how I’m going to present everything to the clients when I see them.
00:08:25:22 – 00:08:47:13
Unknown
And that’s really got me frustrated because, like, I change my mind all the time about how I want to do it. Yeah, sure. I mean, it’s I mean, it’s a very important aspect of the business, right? I mean, your goal as a business owner to generate revenue, that’s the goal of the business. And, how you price your services is how you generate revenue.
00:08:47:13 – 00:09:09:21
Unknown
So, so, yeah, so it’s, it’s an important consideration. Do you have a ballpark idea of what you’re going to price based off what competition in the areas charging, or have you done any research yet? So I’ve looked at websites and unfortunately a lot of places. So most places I’ve seen around me are fee for service.
00:09:09:21 – 00:09:31:16
Unknown
They’re not doing the package model. So that’s hard to compare to. A lot of places will be like $250 for, you know, an appointment. And that’s, you know, all they really post on their website. So, you know, I, I keep meaning to look at other places that might, like, look around more and find places that might do package models.
00:09:31:16 – 00:09:51:15
Unknown
But so far I haven’t really found anything. Anything directly near me has all been like, you know, you pay by the appointment, so it’s kind of hard to compare. I don’t think there’s too many other places nearby me directly that are doing exactly the model that I’m looking to do. Well, I mean, I set you up and, I mean, I put you in a good position, basically.
00:09:51:18 – 00:10:11:05
Unknown
I mean, you’ll be able to position yourself as something that’s a little bit different, right? So, so that’s good. I mean, if you’re the only one doing a subscription package kind of thing, then fantastic. I think patients find a lot more value in subscription packages versus fee for service. So I think that’s, I think it’s I think it’s a good idea.
00:10:11:07 – 00:10:33:00
Unknown
What you should do then is, you know, don’t rely on just what the websites say. Make sure you’re calling these places up. Okay? So pick, you know, pick 5 to 10 clinics that are providing similar services as you. It doesn’t necessarily have to be, you know, a women’s health clinic, but just any kind of wellness practice or whatever.
00:10:33:02 – 00:11:04:12
Unknown
And pick about 5 to 10 and go within about a 50 mile radius around, the area that you’re in is, I’m assuming, heavily populated or quite. Yeah, definitely in a more, city area. So lots of people. Yeah. Okay. Yeah. Okay. So, definitely do places you know, that we’re going to be within, you know, 15 to 30 minute drive of you, of you, but you may go out a little bit further as well and go to the website first, see if it’s on there.
00:11:04:12 – 00:11:19:23
Unknown
Chances are maybe it’s probably not. A lot of people don’t put the pricing on the website and, just give them a call. I feel like you’re a patient. How much is it? What’s what’s the prep, what’s the packages, all that kind of stuff. Okay. So let’s do a little bit of market research, find at the goals in the wrong with that.
00:11:20:01 – 00:11:46:07
Unknown
And so that way you can get a general idea if you can’t find someone doing packages or subscriptions, okay, then you’re basically going to be setting the price, right. You’re going to establish the standard in your area. Now that standard should still be market based off of people’s fee for service. All right. So whatever it is that they’re charging for, the fee for service, see what’s included with that.
00:11:46:09 – 00:12:07:12
Unknown
And you’re having to kind of just build the packages based off of that. So if they’re charging $250 for an hour consultation okay, cool. Now you know, it’s 250 bucks for for your time once they charge for follow ups, see how much they charge for the compounded meds. Do they send just meds to the pharmacy and you just go pick them up?
00:12:07:12 – 00:12:30:18
Unknown
Or do they send you compound meds? How much are those. So really kind of go into the nitty gritty or go into the details and figure out what is it that people are charging. So let’s just hypothetically you let’s just do a hypothetical example here. So if someone is charging $250 for two initial consultation and then, I don’t know, $150 for follow ups or something, okay.
00:12:30:20 – 00:12:52:04
Unknown
On average. Right. And women’s health, HRT, that kind of a thing on average is falling over the patient every 2 to 3 months in the first year. That had to last quite every six months. Let’s just focus on the first year. So if it’s 20 or $50 for the first visit and then $150 for a visit two months later, right then it would be $150 every three months after that.
00:12:52:04 – 00:13:18:15
Unknown
So, if you do the math in your head, this would be about six, about $900, give or take, for the visits itself. In one year. That’s 900 bucks. Okay, then. And in this example, let’s just say that they charge separately for the hormone replacement therapy. Let’s say it’s a two women’s health. Let’s say they’re doing a, three hormone based topical cream or some something with testosterone pedestrian action as an example.
00:13:18:15 – 00:13:46:07
Unknown
Okay. Let’s say for a two month supply, they charge 200 bucks for it. Okay. So that would be two, four six, eight on top of the 900. Right? So that’s about $7,000 a year for basic hormone replacement therapy is what they’re charging right now. Divide that number by my 12 basically. Right. And so that’s going to be about 140 bucks.
00:13:46:09 – 00:14:12:05
Unknown
So they’re probably probably charging more than that for the home replacement therapy. And they probably charging for for some additional services like labs etc.. So if you do the math and you factor in those other services, you’re still coming out to probably between 150 to $200 a month mark, which is pretty standard in this field. Across the country.
00:14:12:09 – 00:14:38:13
Unknown
That’s about the average rate you’re going to charge for general hormone replacement therapy. Monthly subscription okay, for women typically is going to be higher to the $200 mark, a month for managed to be about 150. It’s just easier. So, you know, that’s just an example. It might be a little bit higher in your area. You know, it just depends on the cost of living in your area, etc. if it’s higher cost of living, it might be a little bit more.
00:14:38:13 – 00:14:58:08
Unknown
So I would say that on average, you’re probably going to be charging somewhere between 200 to $250 a month. Okay. Probably give or take. Would that be adequate like they do like their. So because the way I was planning this would they would do like a six month onboarding package and then it would transition to a monthly membership afterwards.
00:14:58:10 – 00:15:20:16
Unknown
So with 150 to 200 be like the monthly membership afterwards. Correct. Yeah, yeah. So if you want to set up a package for a three month, six month, 12 month, whatever it is that you want to do there, I would get people options. Okay. The last thing you want to do is only have a six month option, and it just, you know, it just it just it it it out prices.
00:15:20:16 – 00:15:41:13
Unknown
Some people you know, it’s just yeah. If it was just a few hundred dollars cheaper they would have by. But because you only have a six month option and that’s it. They’re not now they’re not a pain. Right. So have some different options. So you always want the money upfront. Always okay. With any kind of business you always want to put mo money upfront if you can.
00:15:41:14 – 00:16:02:18
Unknown
If you can get the money upfront. So do a three month package, a six month package in a 12 month package. All right. Let’s just say that let’s just say you do $200 a month as an example. Okay. So that’s about $2,400 a year, right. So, so what you want to do is that you want to give the patients options.
00:16:02:20 – 00:16:26:13
Unknown
So if it’s three months, you give them like 5% off. If they pay for six months, you give them 10% off or pay for a whole year giving 15, 20% off. Okay. But have the option for people. They can just pay monthly because there will be people who just simply do not have $700 or whatever to give you.
00:16:26:13 – 00:16:49:18
Unknown
They just don’t. They don’t have 600 bucks. They don’t have $1,000. They just they just don’t. But they have $200 a month because they’re living paycheck to paycheck. All right. You know, most people are not very good with their finances. I mean, when you factor when, you know, when you consider that 60% of the United States population has an average savings of like $1,000 or something like that.
00:16:49:18 – 00:17:12:18
Unknown
I mean, it puts it in a perspective, right? So, to just kind of keep that in mind. I think that having that optionality allows you to get more patients in the door. All right. So have those options. So what you need to do is you need to figure out what your monthly price is for each service line that you’re going to provide okay.
00:17:12:20 – 00:17:43:20
Unknown
So provide hormone replacement therapy is one service obviously. So that should be I mean again 200 bucks a month give or take maybe up to 250, right. For longevity longevity services that’s typically higher ticket. So you’ll have to figure out what that pricing model is going to look like. You know, are you going to be doing high ticket physical kind of things or you’re going to be doing just more of a monthly longevity thing where you’re prescribing someone metformin and guardians or whatever.
00:17:43:22 – 00:18:14:20
Unknown
And then your other service lines too, you’ll just kind of need to figure out what that is. But your goal should be at least a 1.5 to 2 weeks profit. Okay, whatever for depending on whatever cost you. So you need to determine what your what your what your time is worth. And then you need to figure out how much these things are from the combating pharmacies or wherever you’re, you know, sourcing the meds and the, the vitamins and whatever it is that you’re getting people.
00:18:15:01 – 00:18:42:04
Unknown
All right. So let’s start with your time first. That’s where I find people don’t charge enough typically. Okay. Most nurse practitioners have a very scarcity mindset because we’re most practitioners are underpaid. Right. How do you make a year right now, probably around 140,000 on your on your and 40 so 40 hours a week that 70 bucks an hour.
00:18:42:06 – 00:19:11:04
Unknown
Yeah. Okay. That’s what that’s what your employer deems your worth right. You’re obviously probably worth more than that. We all are. So, I think a good rule of thumb is at least $100 an hour is what you should be worth in your business. Okay. Minimum work minimum. All right. So if you factor in how many hours this is going to cost you, you know, to see the patients you know, I mean, the first point it should probably be a good hour long, right.
00:19:11:06 – 00:19:47:19
Unknown
Follow ups are probably 30 minutes give or take, you know. So in in a in a year. Yeah. I mean, I mean, how many hours you spent in with the patient? Probably. I mean, six max. I would think if you’re at $100 an hour at 600 bucks. Right. I would do 1.52 x of that. Yeah. I think, you know, kind of back to what you’re saying with the different, like, lengths of time with a three month, six month and 12 month, I was thinking that the three month would be like an HRT only type of package to start, and then the six month would be more like longevity focused HRT.
00:19:47:19 – 00:20:09:00
Unknown
Maybe GP’s thyroid think like a little more in depth. That’s why I would be a longer onboarding package to get them, up and going with that. And then I hadn’t really considered a 12 month package, but, I guess that’s kind of like the same idea where they would be, you know, similar thing, just that they would get more of a discount if they were to sign up for a longer program up front.
00:20:09:02 – 00:20:26:00
Unknown
Yeah. You should do the 12 month, because there are going to be people who are going to see the value in that, and they’ll just go ahead and give it to you. Right. At my men’s health project, we got quite a few patients who were literally will just they will pay for 12 months. Just boom. Here, put it on my card, $1,800.
00:20:26:06 – 00:20:52:22
Unknown
Bam. I’ll just put it on the card. They’re good to go for a year, right? Now the more in-depth six month thing that you were talking about with like the longevity package. Now with longevity, that is a higher ticket thing. Typically you don’t have to, people going into your longevity program. Usually, though, those types of patients, are going to have a disposable income because they care about that.
00:20:52:22 – 00:21:18:02
Unknown
Right? You’re talking about like, executives and doctors and people, business owners, and like people who have some money, who really, truly care about their longevity. I just, you know, they’re just not trying to survive week to week, you know, like your average kind of. Joe. So, so I don’t, you know, I’m not necessarily opposed to that. If you want to go down that route and have more of a comprehensive thing and it’s like six months, and after that it’s, you know, after that it’s monthly.
00:21:18:02 – 00:21:38:09
Unknown
I don’t see an issue with that. Just make sure that whatever you charge for that, again, you’re making at least 1.5, two weeks on it at least. All right. And, the patient gets, you know, some value out of it to justify that cost. You know, with longevity medicine, you know, this is higher ticket stuff.
00:21:38:09 – 00:21:59:14
Unknown
I mean, for 6 to 6 month package to be five grand, if not more, depending on what it is that you’re, you know, that depend on what you’re offering. So yeah. Right. And you’d typically include the medications for like like if someone needs to go on a GLP, would you include that into the price of the package or would you price that out separately for them?
00:21:59:16 – 00:22:18:09
Unknown
If the GLP one, if you’re gonna be microdosing it or whatever from a longevity standpoint on this, and that’s what you’re gonna be doing. Yeah, I mean, that’s going to be included. Yeah. I mean, if it’s basically a standard thing for each Bayesian, then yeah, it should be included in the price. Now there will be some people who might not want it.
00:22:18:11 – 00:22:42:03
Unknown
All right. Like if I came to see you, I wouldn’t want it. I don’t need it. I mean, I’m 170 pounds, 12% body fat. I just I don’t need it. Right. Oh, he would do much for me. So. So there might be some people that that, you know that are like that. So you want to ensure that there’s again there’s optionality.
00:22:42:03 – 00:23:10:02
Unknown
It’s not a binary thing. It’s a black and white okay. So ensure that there are some other options for people just in case. So when you sell it to them you can say it also includes the microdosing a GOP ones. The science behind it’s pretty pretty robust from a longevity standpoint. Cetera. ET cetera. If you don’t want to be on a GLP one, I understand there are other options that will facilitate mitochondrial health, blah blah, blah, blah, blah, whatever.
00:23:10:08 – 00:23:40:04
Unknown
Okay, so just make sure you have some different options for people if they if they’re not interested in that. But the price should still be the same. Just make sure your margins, you know, make sure it still works. Yeah okay okay okay. And one of the other things that I am considering, making part of my practice is some esthetics because I am a certified nurse injector, and I purchased a microneedling device.
00:23:40:04 – 00:24:01:16
Unknown
And so one of the ideas I had was kind of combining that, and I, you know, or just giving patients a discount on it. I wasn’t sure what you how what you would think about that. Like, should I make that part of the package like for people who are, you know, because a lot of midlife women might be interested in, you know, doing Botox or Microneedling for their skin.
00:24:01:18 – 00:24:24:22
Unknown
So including that, like, you know, for someone who wants like a free microneedling session if they sign up for the six month package. Because for me, you know, it really doesn’t cost a lot when you think about, you know, the microneedling tip and maybe like 30 minutes of my time and then maybe they’ll purchase more after that. I don’t know if you think that that’s something I should think about bundling in as well or keep that completely separate.
00:24:25:00 – 00:24:41:23
Unknown
But I think it’s a good strategy. I think it’s a pretty good idea to include one free session of Microneedling or whatever. And then that way when they see the results, then you’d be like, yeah, moving forward, this is the discounted rate for, you know, for my longevity members or team members or whatever. Yeah. And you give a little bit.
00:24:41:23 – 00:25:08:17
Unknown
Right. You want to get them hooked. Yeah. Right. That was my thought. Yeah. A lot of people still haven’t heard of Microneedling where I am. And so it’s kind of still, you know, people try it and then they will hopefully like it and want to keep doing it. So yeah, I think that, I think you should definitely offer some of those more anti-aging esthetic things, you know, like Microneedling or maybe even doing some Botox or that kind of thing.
00:25:08:18 – 00:25:30:11
Unknown
I don’t think, you know, Microneedling, like you said, it’s low cost, relatively easy to do. You can include that in the packages, but like, you should have an all a cart thing as well for various other services like Botox and, you know, peptides or vitamin injections or whatever. You should also have another all a cart menu for your members.
00:25:30:13 – 00:26:02:21
Unknown
Yeah. You don’t necessarily want to have those things as separate things that just people can come in and do. You really want people on these, on this description, on the packages and stuff. Now you can create an esthetic longevity protocol kind of a thing if you want. Have a package for skin longevity. And it can include, you know, Botox injections every three months or microneedling and maybe like, a retinol cream or, you know, nice in MI or GQ or, you know, whatever.
00:26:02:21 – 00:26:27:09
Unknown
Right? You create some packages like that for, you know, the anti-aging skin care package that’s, you know, that sort of thing as well. So remember, just a general principle with business is that you want to you want to increase and enhance the long term value of every single patient and customer that you have. Right? You don’t want someone to just stop at 200 bucks a month for HRT.
00:26:27:11 – 00:26:54:14
Unknown
Like, you know, that’s all the money they got. And that’s just, you know, then that’s it. Okay, great. Whatever. But your goal should be to enhance and increase the lifetime value of each individual patient. And so having packages like that will do that. Right. If you create a peptide package in a hair health package in a skin package and you have all these other things as well, that are for, you know, anyone can come in and get it if they want to.
00:26:54:16 – 00:27:19:18
Unknown
Yeah, yeah, yeah, that’s interesting because when you set the hair health package. So one of the things the Microneedling can do is for hair loss. So I’ve been thinking about, you know, offering that to like specific protocols for women who are experiencing hair loss related to like menopause, and trying to bring that in as well as a separate like, you know, a separate type of, offering.
00:27:19:18 – 00:27:42:12
Unknown
But, I don’t know. I guess that’s just something I’ve been, I think, thinking about, but I haven’t decided yet if I want to incorporate that, I do think it could be really helpful and maybe boost some revenue as well. But, I mean, I mean, if you think about it, it’s pretty low hanging fruit. It’s not necessarily that difficult of a thing for you to build out.
00:27:42:12 – 00:27:48:23
Unknown
It would take you it would take you an hour to build that package.
00:27:49:01 – 00:28:16:00
Unknown
Right. You know, I mean, you just say, okay, we’re gonna do some microneedling, we’re going to do a fantastic ride, blah, blah, blah, whatever hair serum, you know, you can come at, you know, a red light helmet or whatever. I mean, these things aren’t it’s pretty low hanging fruit with pretty high margin on it. I mean, some of these things, you can charge more than 1.5 or 2 x, you can charge 3 or 4 if you want.
00:28:16:02 – 00:28:39:13
Unknown
So so yeah, like why not right now? The thing is you don’t want to have too much stuff, okay? You don’t want to the point where it’s just confusing as hell and it just looks like you’re, you know, jack of all trades and a master. Nothing. What sort of a thing? So as long as it complements and is aligned with your overall value proposition of the business, then it’s fine, right?
00:28:39:15 – 00:29:03:23
Unknown
If you’re focusing on wellness and longevity and that’s kind of the, the, the, the, the track that you want to follow, the path you want to go down, then. Yeah, hair health is definitely something. Skin health is definitely something. Sexual enhancement and health is something. Right. So so yeah, I think that, I think it’s fine. That’s what you’re, you know, if that’s the path you want to go down.
00:29:04:01 – 00:29:24:18
Unknown
Okay. Yeah, that sounds good. I mean, definitely I will something I wanted to do, I just still brainstorming how to package that up, but. Yeah, think about that more too. Are you. I’m just curious, is that is that the path that you do want to go down? Do you want to kind of have this be more of a longevity kind of wellness practice or, or is that just going to be one of the services that you offer?
00:29:24:20 – 00:29:47:03
Unknown
I think that, yeah, that’s kind of my vision was a more longevity. So, HRT was, you know, kind of like the base. And I think a lot of people in Will are women in midlife who are going, you know, in need. HRT are also thinking about their metabolic health because of weight gain. And, you know, HRT only goes so far for some women for mitigating the the midlife weight gain.
00:29:47:03 – 00:30:06:21
Unknown
So end thinking about like thyroid optimization and, you know, metabolic health and kind of bring that all together in one place where women feel like they often have to go to multiple providers and they can’t seem to get exactly what they want. But being able to go to one person and get everything at one time from one provider would be really good on your percent.
00:30:06:23 – 00:30:27:06
Unknown
Absolutely. I mean, you know, I’m a man and I’m 42 years old, and I mean, I do love this. I mean, I do a lot, a lot of the longevity stuff myself just because I have the means to do it and I have the knowledge to do it, the connections to do it. Right. I mean, I have a license and I have friends who have licenses, like prescribing things, etc. and, I’m fully down that path.
00:30:27:06 – 00:30:52:23
Unknown
If I was just a business owner and I wasn’t an NP and knowledgeable in this space, I would 100% be spending the money on these things personally. And there’s plenty of people out there that are willing to do it and do basically. And I think you’re offering, there’s definitely a market for it, and especially if you’re at a higher cost of living populated area, there’s 100% a market for it.
00:30:53:00 – 00:31:14:14
Unknown
Yeah. And that’s where I’m at, too. And there’s a lot of med spa’s in the area. I will say that. And I do feel like some, you know, like what med sports are doing now is they’re adding wellness into what they already are doing. But there’s not really any practices that are just focused more like health and wellbeing for midlife women is the focus.
00:31:14:16 – 00:31:33:03
Unknown
And that’s like the bread and butter. I feel like it’s more like med spas that were doing esthetics are now kind of adding wellness on to the side. So I’m hoping that I’ll be different from the rest. You know, the med spa and stand out as this is like really my, my goal is your wellness and longevity.
00:31:33:05 – 00:31:53:08
Unknown
And I do offer some esthetics, but that’s more of like the side stuff, like the focus is more on like the well-being and overall health. Yeah. I think it’s the right path tag, you know? I mean, do you know why those med spores are offering these services? Because that’s exactly right. And does it require time? It’s very it’s it’s hands, hands off.
00:31:53:08 – 00:32:13:02
Unknown
Right. You see the patient every 3 to 6 months, they just get their meds or whatever, right? That’s why they want to do it. And you can’t blame them. But yeah, that’s what separates you though. They’re a med spa that just offers those things. This is what you do, right? Yeah. So you want to make sure that you really hammer that point.
00:32:13:04 – 00:32:34:14
Unknown
Okay. You can you really want to separate yourself. There’s competition in your area. And from the sounds of it for some of these things. And so you need to separate yourself as much as you possibly can. And so ensure that you know the name of your business, your website, your Google business listing and stuff. You need to make sure that it gets that point across.
00:32:34:14 – 00:33:05:10
Unknown
This is a longevity wellness practice. I’m here to help you age gracefully, optimize your health screen for preventable diseases, etc. right? So, so make sure you get that point across. It’s going to be very, very important. And it’s going to be really it’s probably going to be one of the most important aspects of your business during the if, you know, during the initial 3 to 12 months, okay, it’s what’s going to drive people in the door.
00:33:05:10 – 00:33:27:03
Unknown
It’s what’s going to separate you from the med spa, right thing to separate you from just this wellness practice. Are we going to just as HRT and peloton crap. Right. So make sure that you really hammer that point across. It’s very, very important. So you said you kind of had your website, you know, you’re working on or or whatever.
00:33:27:03 – 00:33:41:08
Unknown
So you, you know, make sure you get in there, make sure that that point is crystal clear. Now, you don’t have to tell us what the name of your business is, but I would advise that longevity is in the name.
00:33:41:10 – 00:33:59:13
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 lead np.com and make sure to follow us on Facebook, Instagram and LinkedIn.
00:33:59:18 – 00:34:24:12
Unknown
Email subscribers will receive updates on new weekly podcast episodes, multiple weekly articles, we publish new courses and everything else related to helping CC remember all elite Nurse Practitioner courses are designed to help you build each practice, increase your financial strength, and to break free from the rat race. If I can break free and the other countless nurse practitioners can break free and so can you.
00:34:24:12 – 00:34:49:04
Unknown
Additionally, please share this podcast with your other nurse practitioner sessions. And for those out there, the more NPS that venture out on their own, a stronger our profession will become. Now let’s get back to the episode. Okay. Yeah. So what I have at us is right now is like my business name, wellness and esthetics. But I thought, you know, I do think longevity is kind of like a big word that people are really like.
00:34:49:06 – 00:35:09:02
Unknown
I wouldn’t call it a buzzword per se, but it’s definitely that word that people are, you know, when they hear it that it’s something that they’re looking for and like is, the long term health and management. So you so when I could just see you like shaking your head. So wellness in esthetics, is that just so overdone.
00:35:09:02 – 00:35:33:17
Unknown
Did you ditch it. Yeah. Don’t don’t include the esthetics in your name because we say wellness in esthetics. So guess what? Now. Now you’re a med spa now okay. Yeah. Like now you’re esthetics practice. And there’s so many esthetics practices out there. Like I understand when you will certain esthetics practice. Now to be honest with you was just so many of them.
00:35:33:19 – 00:35:57:11
Unknown
I just feel like it’s so hard to, to really generate a significant income with it. If, if, if, if there’s competition already, you know what I mean. If you’re a small town of 20,000 people, there’s no one doing it. Sure. Why not? Right. But you’re in a very densely populated area, and there’s already med spas and stuff, so ditch it.
00:35:57:12 – 00:36:21:04
Unknown
Okay. Be different. Okay. Wellness is fine. You have that in your name. But you should also if you should put longevity in your name, I would highly advise it. All right okay. So the bit you name of your business longevity and wellness okay. Or wellness and longevity medicine. That’s all you have to say. You won’t say clinic or anything like that.
00:36:21:06 – 00:36:47:18
Unknown
Your business name. You know we just call it flowers or whatever. Like flowers, longevity and wellness or flowers, wellness and longevity medicine. That’s what it needs to be. All right. And then your website that is everything revolves around those two words wellness and longevity. If it does not align with that, it does not need to be on your website and does not need to be a service.
00:36:47:20 – 00:37:17:19
Unknown
Okay, everything should go back to that value proposition of the business. Okay? Like your value proposition basically to summarize it up is to help optimize women’s health and wellness and law and help them live long, healthy lives like that is basically your value proposition, right? So everything you do needs to align with that. If it doesn’t ditch it, waste your time.
00:37:17:21 – 00:37:41:11
Unknown
Okay. So if you do Botox it is for wellness and longevity. It helps me. It makes you look better, which you make. It helps you feel better. Right? You’re microdosing GLP one. It’s good for your mitochondrial health and your metabolic health, etc. right? Like there’s all these things they compliments that your wellness and your lifespan, your longevity. So just ensure everything.
00:37:41:11 – 00:38:13:06
Unknown
Compliments ask when you do hair loss package a hair health package. It compliments that skin package. It compliments that hormone replacement therapy compliments that metabolic health compliments that right. Doing comprehensive longevity kind of physicals, etc. compliments that. So you don’t want to do a myers cocktail. It infusion doesn’t really compliment that. That’s a short term thing right? You know doing an NAD infusion once a month or something that compliments it.
00:38:13:08 – 00:38:33:04
Unknown
You know, I wouldn’t recommend doing that. You got to be there for hours at times, give injection and be done with it. Same thing right? Yeah, I, I would never do an NAD infusion. I just hear 100mg twice a week. So easiest thing in the world. Subcu. Here you go. Torturing $2 for a bottle. They call it a day, right?
00:38:33:06 – 00:38:58:12
Unknown
Yeah. So just kind of keep that in mind. Okay. Yeah, that sounds good. I like that idea. Any other questions of the policy packaging? Of course. After all my marketing. Now, whatever. It’s better to change it now before you launch. Okay. It’s not a big deal yet. I to help you do this stuff. Yeah, yeah.
00:38:58:14 – 00:39:20:16
Unknown
So one of the things I noticed is that you recently launched a or your company launched a new program for regenerative medicine. I was just curious. Are there any things that you would recommend that you know, that packet or that, like the regenerative type stuff that would work for like women’s health specifically like that would kind of play into this longevity aspect?
00:39:20:16 – 00:39:44:23
Unknown
I wouldn’t say necessarily specific to women’s health. It’s more of, it’s more for like joint health and more like, doing like PRP injections into a joint or doing PRP facials, that kind of thing. So, yeah, I mean, it could definitely I mean, it could definitely be an add on service that you could that you could add.
00:39:45:01 – 00:40:05:18
Unknown
I don’t see any issues with that. If it’s something that you’re interested in doing. Now I will say this with the with with regenerative medicine. And this is something you need to be cautious about in general is that, most of regenerative medicine is not it’s not FDA approved by any stretch of the imagination. Okay. It’s very off label.
00:40:05:18 – 00:40:35:01
Unknown
It’s very experimental stuff. And so if you decide to do regenerative medicine kind of things, you need to ensure, okay, that your malpractice covers it. A lot of my practice companies do not. Okay. So keep that in mind. Me personally, me personally, I probably would not do those things in my practice right from the get go. Okay.
00:40:35:03 – 00:40:57:16
Unknown
Simply because I think it complicates your business initially. You’re just starting. Okay. If you’re a had a established practice, you’re making good money just looking for an additional service to add to it. It’s great. It’s a great addition of all your malpractice covers. You okay. But for you, right now, is it necessary? I don’t think so. Right.
00:40:57:18 – 00:41:28:08
Unknown
I think that if you wanted to do like PRP as an example, okay, that’s fairly safe. I mean, the only issue you got to worry about with PRP is going to be I mean, infection risk, right? If you’re doing sterile technique and doing it the right way, you shouldn’t really have to worry about that, you know? But injecting someone with some biblical stem cells, that’s that’s something that your malpractice is not going to cover you for unless it’s explicitly written in your policy that we will cover for that.
00:41:28:10 – 00:41:51:02
Unknown
Okay. So what do a PRP from the get go? Yeah. As long as you’re or you feel comfortable with it. Sure. Why not. It works great. You know, I mean, I know people who do PRP for hair, right. Looks fantastic. So, and supposedly from an esthetic standpoint, it works great. So, so, yeah, if you want to do something like that, I’d say so.
00:41:51:02 – 00:42:13:23
Unknown
But doing a full regenerative kind of a thing, I don’t think that’s necessary right now. Yeah. I think you’ll do just fine with the HRT in the longevity protocol is the GOP one. I, I think doing that sort of a thing would it’s probably sufficient for now. You want it. You want to prove your concept first, validate your idea, validate the practice first.
00:42:14:00 – 00:42:41:21
Unknown
Okay. And then you can begin adding things to it. Really. One another rule of thumb with a business is simply listen to your customer, okay? Don’t don’t don’t jam things down their throat. Listen to them. What do they want? They want to give it to them. Especially, you know, if you start hearing a lot of people asking you, why don’t you do stem cells, why don’t you do PRP or you do this stuff being like those questions, then spice up.
00:42:41:21 – 00:42:52:15
Unknown
You need to add what you might not. Yeah yeah okay. Any other questions? With packaging comprising.
00:42:52:17 – 00:42:58:03
Unknown
No I don’t think so. Not about that. Do you want to talk about setting boundaries a little bit.
00:42:58:05 – 00:43:02:19
Unknown
I do okay. Yeah. Tell me your, your concern.
00:43:02:21 – 00:43:23:08
Unknown
So access, for the patients to me in terms of, like, questions and, like, you know, wanting to just constantly reach out, you know, obviously, where I work now and full time job, you know, we’re constantly getting lots of questions from patients. But I don’t want to burnout at this job. I want to be able to you know, scale and grow.
00:43:23:10 – 00:43:45:02
Unknown
So I want to make sure I’m setting good boundaries from the beginning while also making patients feel like they do have, like, it’s worth their money to be paying to see someone you know out of their pocket. Rather, you know, in an in a model that is supposed to give them more access to the provider. But without burning me out at the same time, because I’m getting so many questions.
00:43:45:04 – 00:44:06:15
Unknown
Yes. So you 100% be setting some boundaries. You need to I you need to figure out right now what it is that you’re comfortable with and what it is that you’re not. Okay. You give your phone number to everyone, including your $200 a month HRT, Bayesians. They will be texting you, okay? They will annoy the share. You okay?
00:44:06:17 – 00:44:24:06
Unknown
They’re going to. I learned a long time ago, I don’t give my number to anyone except for, I think you’re just cool, right? Yeah. There’s, like, some of my patients I’m just friends with. At this point. We go fishing together or whatever, you know what I mean? So, like, you know, those guys can text me, but, like, some of them, there’s no way in hell I give them my number.
00:44:24:07 – 00:44:49:15
Unknown
So, you know, I don’t even like them during the visit. You know what I mean? I yeah, like you during the visit. I sure as hell don’t want you contacting me outside of the visit right. So, so you need to determine what you’re comfortable with there, okay? But there is value to that. Okay. It should be included more in your high target concierge kind of stuff.
00:44:49:17 – 00:45:16:23
Unknown
So with longevity medicine, with the six month program that you want to have, you can have an option. You can just include it in the program, okay. Where it’s full concierge longevity, executive hell kind of thing. Okay. You can do that if you want, but you make sure that you’re charging appropriately for it and you set boundaries. You can only contact me during daytime hours.
00:45:17:01 – 00:45:37:03
Unknown
If you contact me on the weekend. I cannot promise you I will. I will respond to you in a timely fashion. If you text me after 8 p.m. or whatever, or even 7 p.m. or 6 p.m. or whatever, I probably will not respond. You will get a response from me in the morning. Okay, so you simply just set that boundary very early on during the initial appointment.
00:45:37:05 – 00:45:57:01
Unknown
Okay. So then we tell them, you know, you’re one of my high, high ticket concierge patients. I am happy to facilitate whatever is that you need help with. You can message me on the weekends. I will get back to you, but I cannot promise you I’ll get back to you quickly. I mean, if I’m out hiking or something for the entire day, or I’m on the lake with my family or something, I’m not going to be responding to you.
00:45:57:03 – 00:46:18:13
Unknown
Right? So, so you just set those boundaries. It’s it’s real. It’s it’s relatively simple. Just tell them what it is, it you’re comfortable with, and you leave it at that. Okay? And you actually stick with those boundaries too. Don’t make exceptions. So, just move up. But but but make sure you charge appropriately for that.
00:46:18:15 – 00:46:41:14
Unknown
Okay. Okay. Got it. So yeah. Like my real high ticket. I mean, I have some concierge kind of patients that my band health practice, you know, where we do some pretty comprehensive diagnostics and stuff, and I’m kind of at their win, so to speak. But, you know, they also they also pay us well over $1,000 a month for something like that.
00:46:41:14 – 00:47:02:16
Unknown
And it was 10,000 bucks to get in, you know, something like that. Sure. But it’s a dozen people. It’s not a big deal for me. And most of the time they don’t tax me. So. So I think you’re right. Yeah. Like these people are going to be blowing up your phone all the time. You know, you’re not you’re not.
00:47:02:18 – 00:47:23:23
Unknown
This isn’t someone who has borderline personality disorder who’s like that’s not the person that you’re treating. You’re exactly okay, right? Yeah, I think so. Yeah. I mean, they might be a little hypochondriac, you know? Yeah. I mean, you know, I might be that, but but overall, most these people are pretty cool. They got a busy life. I mean, I got a business to run.
00:47:23:23 – 00:47:44:17
Unknown
They’re a professional. I got time to sit down, phone with you all the time. Right. So, so if you want to have an option like that, have it there. I mean, you might get someone who bites every once in a while. Cool. If they do. Now, what about, spread like the lower regular package options? What kind of access to the provider do they get outside of, like, their regular appointments?
00:47:44:19 – 00:48:01:07
Unknown
Yeah. So, you know, we appointment anytime you want, right? Well, we can fit you in. We, you know, we can get you in for an appointment basically. So unlimited visits whenever you’re, you know, wherever we can fit you in, I cannot promise you. Same day. Right. I mean, I can take a quick phone call, you know what I mean?
00:48:01:07 – 00:48:22:17
Unknown
Something like that. Sure. But it’s basically unlimited visits. And again, you’re not dealing with really crazy, you know, deal with crazy people here. They’re not going to be wanting an appointment every week. They’re just not, outside of that. It’s just it’s just text. Yeah. Like messaging in the portal. No, I don’t even do that. I just have, I just have a separate phone app on my phone.
00:48:22:19 – 00:48:43:22
Unknown
Okay, okay. Like, I just have, like a sideline app. Okay. Like $10 a month. It’s a, it’s a secondary phone number I have on my phone as, as, as a, as a secondary phone app. And that is what I use for for those patients. Got it. Okay. So if I see a text through that I know it’s one of my patients, you know, I mean they get text me wherever they want.
00:48:44:03 – 00:49:03:07
Unknown
And again, no, they understand there’s boundaries here, right? Like they know that some days I’m at the mountains fly fishing. I don’t have signal. I’m sorry. I’ll respond to you when I get a chance. And they understand that. Okay. Yeah. You know, I mean, if it’s an emergency, I mean, they know it’s an emergency and go to E.R., right?
00:49:03:09 – 00:49:24:15
Unknown
But most of it is. It’s more most of the stuff that I get from that concierge kind of model. Most of it is like a I heard this on this podcast. What do you think about this? It’s a question like that or that this weird symptom, you think this is from the testosterone or something? But no, I had nothing to do with it, you know?
00:49:24:17 – 00:49:42:20
Unknown
Yeah. Or, you know, Hey, hey, can I get some blood work done? I’m curious. What? You know, my labs are right now. Yeah, sure. Swinging each blower. Guns. Follow me, whatever. You know, or, you know, my kid’s got strep throat. We two in the urgent care. Two days ago, he tested positive for strep, and now my throat hurt.
00:49:43:00 – 00:50:17:22
Unknown
Okay, well, chances if you have a strep apart pretty, I. I don’t need to see you whenever I’m sitting in is, you know, you’re sitting here for five days. Well pharmacy want to go to. You know what I mean. It’s easy stuff like that. Yeah. Nice. Okay. All right. Yeah. I guess one other structural thing I actually, I was just thinking about was in terms of, like, the lab drawers, or like because you mentioned the lab, for, like, before you see a patient, you’re you are they doing their labs or are you having them do them after you see them?
00:50:18:00 – 00:50:37:20
Unknown
You want their bloodwork done before the visit? Yeah. It’s save you time if they come in before. I mean, you see them I mean we talk about, you know, got bloodwork done yet. You know, it’s if it’s done before, you can go ahead and address their concerns and go over their lab work and that kind of a thing before the visit.
00:50:37:22 – 00:51:01:04
Unknown
Now. Yeah. If you have a high ticket longevity thing, where are you doing a bunch of advanced diagnostics and stuff on people? Okay. It’s probably a good idea to get the bloodwork done first. Have them come in, review the lab work and stuff, talk to them where they’re concerned, where their goals, etc. and then you order the advanced diagnostics on them.
00:51:01:04 – 00:51:16:06
Unknown
I wouldn’t like I wouldn’t order the CTA and all this kind of stuff before you ever see them. You know, I wouldn’t do that, but I would at least get the bloodwork done. Okay. Yeah, that’s kind of what I was thinking, too.
00:51:16:08 – 00:51:30:10
Unknown
That way we could discuss everything and let the labs in front of us. Yeah. Makes it a little like normal form. Exactly. And, you know, and then if you’re gonna be doing a lot of all these advanced diagnostics and stuff, too, you know, that stuff takes 2 to 4 weeks to get all done. They gotta make an appointment.
00:51:30:10 – 00:51:46:00
Unknown
They gotta go and do it, and then you gotta wait for the results to come in, and then they gotta go do this other thing, like, you know, it’s it’s a lot of effort on their part to go at, you know, do all this stuff. I had I had a lot of the stuff done, earlier this year I had like a full body MRI and a CTA, and I did all this stuff.
00:51:46:01 – 00:52:12:11
Unknown
Shoot took like a month to get all done, you know what I mean? And then and then I, you know, went over the results and stuff. So that’s kind of what you want to do. Okay. Thanks. Yeah. You know, the questions there. Nope. Okay. So transitioning from full time work into your practice. Yes. What’s your concern there?
00:52:12:13 – 00:52:27:16
Unknown
Just the timing of it. Not waiting too long. Like knowing when the time is right. So I think some of that is just like fear based like, you know, when do you know is the right time without.
00:52:27:18 – 00:52:52:17
Unknown
Waiting too long, I guess. Yeah. So, it is a difficult decision, and it’s a very stressful one. Okay. Very few entrepreneurs transition from full time work straight into their business without any kind of anxiety. Okay, unless your business is just killing it. Okay. And if it does, you really care. Just like I’m out. I don’t need this anymore.
00:52:52:17 – 00:53:23:06
Unknown
I’m pumping up $50,000 a month over here, like, screw you. I don’t need it anymore. Right? But in most cases, it’s not that. In most cases, it comes down to how stressed out are you in terms of just juggling your work, your business, your family, etc., right? Like, is time becoming a scarce asset for you? That’s usually what’s going to be one of the most determining factors.
00:53:23:08 – 00:53:49:17
Unknown
You just start getting burnt out. So so that’s something that you need to, I mean, you’ll, you’ll know when that time comes. You you just will, all right? Like, you’ll just know I’m getting burned out. Like I don’t want to go to work anymore or my business feels like such. It just, you know, just feel like such a headache anymore, you know, it’s going to be like you’ll be feeling that way about both things.
00:53:49:19 – 00:54:14:11
Unknown
You’ll start hating your job, and then you’ll also start hating your business like it happens at the same time, usually because you’re so you’re burnt out right? And you stop and you start neglecting both of them, you know, you just you just kind of stop caring. And for me, for many other people, that’s when it’s just like, okay, it’s time to make a decision because now I’m, I’m neglecting my business.
00:54:14:13 – 00:54:35:22
Unknown
I don’t care about my job anymore. I just don’t show up late now. I just don’t care. You know, my charting sucks. Like, you know. Yeah, just like stuff like that. And so for me, like the urgent care, like I treat the patient and after outside of that, you won’t get anything else from me, you know. And my bedside manner was just absolutely horrible to at that point.
00:54:36:02 – 00:54:56:15
Unknown
And I’d go to my men’s health clinic and I was just I was tired, I was burnt out. Okay. I had to make a decision. Usually that decision is going to come down to finances. Ultimately, it’s what’s going to come down, you know, when you try to quantify it and make it, you know, objective decision, it’s going to ultimately come down to your finances.
00:54:56:17 – 00:55:22:11
Unknown
So good rule of thumb is that once your business is starting to make enough money for you to cover what you have to cover in your personal life, and you can still invest a little bit back into the business, then it’s probably it’s probably a safe bet from a financial standpoint. You can quit your job, but you don’t want that decision to be made.
00:55:22:13 – 00:55:47:23
Unknown
If you are no longer able to invest money back into your business. So let’s say, just as an example, say you’re making a profit of $10,000 a month in your in your business. Okay, clear in ten grand, give or take, you know, 10 or $12,000 a month. Clearing that is equivalent to what your salary is. Right? So you could say, okay, I can I can quit working now.
00:55:47:23 – 00:56:08:03
Unknown
I don’t need it anymore. I can just focus on my business. But if that 10 or $12,000 a month gives you no room at all to invest money back into your business, it’s probably still a good time because you always need to be inputting money into your business for it to continue to grow, right? It doesn’t come free, it just doesn’t.
00:56:08:03 – 00:56:37:15
Unknown
You have to invest money into the business, and by investing money in the business, like I talk about in other podcasts, investing your money into the businesses, hiring additional staff, training another provider, you know, marketing, learning some new skill, some continuing education, whatever it may be to grow your business. So I think a good rule of thumb is that maintain at least 20 or 25% of your business is profit.
00:56:37:17 – 00:57:05:11
Unknown
Maintain a 2,025% reinvestment rate into the business. Okay, so if you’re profiting $10,000 a month, you should be probably investing another $2,500 a month back into your business for it to grow through marketing, etc.. So in reality, now you’re in reality you’re only profit 7500. Is that enough for you to quit? Ultimately, that comes down to how frugal you are and what your personal finances are like.
00:57:05:16 – 00:57:14:20
Unknown
So you know how big an emergency fund you have built out, etc., right? Right.
00:57:14:22 – 00:57:37:14
Unknown
Yeah. I guess I’m thinking about probably doing it as a stepwise approach to like I would probably go cut back my hours before going completely all in on my business. So just like trying to time that out so that I am not waiting too long because I feel like that can also stunt your growth. If you’re kind of tied up so much with your current role that you don’t have the time to invest as much energy into the business.
00:57:37:14 – 00:58:02:16
Unknown
So correct. Yeah, there will be a point where your business will not be able to grow any more because you cannot give it the time, right? Yeah. So a good, safe way to do it is exactly that. You just cut down to part time hours. You go pro and part time two days a week, whatever. All right. And that money that you’re making hopefully can support your personal life.
00:58:02:18 – 00:58:26:19
Unknown
And then you’re making a few bucks over here in your business. Now you spend a lot more time in your business. Okay. You will see, as you will see that when you can invest more time in your business, you will start seeing that revenue increase and you will start getting busier. And then at that point and this point, this, this time frame usually is fairly quick from full time to part time takes a little time.
00:58:26:21 – 00:58:55:05
Unknown
Okay. Because starting a business like this doesn’t just magically, it doesn’t magically become profitable over over a month. Okay, there are cases where that happens, but that’s the exception, right? It’s not the rule. So going from full time to part time, that usually takes a while. It can take a year okay. You can take two years. Sometimes it just really depends on are you at the right place at the right time or are you providing the right service, or are you doing it the right way?
00:58:55:05 – 00:59:18:00
Unknown
Right. Yeah. It can take you know, it can take a year. It can take 3 to 6 months. You just you’re not going to know, do you do it? Okay. No one can tell you this, that part time to part time work to full time business. Right. That usually is going to be a lot shorter of a duration because now you’re investing a lot.
00:59:18:02 – 00:59:43:16
Unknown
You’re basically doubling the time in your business now, right? And you will see it start growing exponentially. And so that period of time use is going to be about half of the time that it took you to go from full time work to part time work. Does that make sense? Yeah. Yeah it does. Yeah. So it’s a good problem to have like when you start having that problem, like you’re still working part time or two days a week, and now you’re doing three days a week at your practice or whatever.
00:59:43:18 – 01:00:09:23
Unknown
A good rule of thumb is that if you’re booking out more than two weeks in the future, okay, it’s probably time to go in on your business. As long as you’re okay. Okay. You’re not profitable. Something’s wrong. Right? It’s like you’re spending way too much money on some bullshit you don’t need. Probably. Okay, well, you’re under charging, but usually that’s a good rule of thumb.
01:00:09:23 – 01:00:31:03
Unknown
If you’re booking out more than two weeks ahead of time, it’s probably time to go full time into your business or hire another provider. Now, I think it’s dumb to hire another provider while you’re still working part time. That makes no sense, because now you’re paying this other provider what you’re making and your part time job. Why would you do that?
01:00:31:05 – 01:00:50:21
Unknown
It makes no sense. And some people are tired. Yeah, some people do that. Don’t do that. All right. The rule of thumb is when you’re full time in your business, that you’re full time and you can’t put any more hours into it and you’re booking out two weeks, that is usually when, okay, now it’s time to hire out of the provider.
01:00:51:01 – 01:01:13:21
Unknown
That’s just general rule of thumb. And you’re thinking, you know, I think about like the regular health care system and, you know, two weeks is nothing to wait for an appointment. But in this type of different model of care, I guess that’s kind of where you would, you know, patients don’t want to wait as long for appointments. And so that’s why you would want to keep it like the demand is enough that you would then financially be okay.
01:01:13:21 – 01:01:38:09
Unknown
Adding another provider. Correct. This is a different model. This isn’t yeah. Insurance based I don’t have another option. In this space patients have options. They have lots of options. They do. They can go to the competitor down the street. They can go online to a telemedicine practice. They got all kinds of different options. Okay. Yeah. That makes them.
01:01:38:11 – 01:01:59:09
Unknown
This isn’t the only rheumatologist in town who books out four months in advance. Right. This is different. So that’s just a good rule of thumb. Two weeks. Because if it’s if you’re booking at more than two weeks, patients typically are going to go somewhere else. All right. It’s not true. I mean that’s not you know, that’s not that’s not a complete hundred percent rule there.
01:01:59:09 – 01:02:26:20
Unknown
But if if you’re looking at four weeks, five weeks or something, those patients, you know, they’re gonna go somewhere else. Yeah. Okay. No that’s good, that’s good. I have to wrap my brain around a lot of the differences between insurance based care and, you know, cash pay because they’re so different that, you know, just trying to change the way I think about business, it’s completely different.
01:02:27:00 – 01:02:55:22
Unknown
And breaking that mindset because now, you know, you’ve been in the insurance model for eight years, essentially you’re doing some prison stuff too or whatever. But like you’ve been this is the only model that you really know, you know. And so, changing your mindset is it’s difficult to do, but it’s worth it once you do, once that mind shift, mindset shift happens, once that happens, you’re never going back.
01:02:56:00 – 01:03:16:09
Unknown
You’re just not like once it happens, it’s it’s done. Your mind is changed forever. You’re not going back to that model again. You’re just not going to because this model is such a breath of fresh air. Like, it just it gives you back your life, gives you back so much more time. You get paid for what you’re actually doing.
01:03:16:09 – 01:03:47:17
Unknown
You get paid for what you’re worth. And honestly, you’re making so much of a higher impact on these people’s lives. You really are. You’re not just pushing through 15 minute insurance visits. You know what I mean? Here’s your refill. You know, just crap like that. Like you really are. You’re making a very positive change in people’s lives who generally are looking for that positive change in their life, because not only are you sick and tired of, you know, medicine.
01:03:47:17 – 01:04:09:10
Unknown
1.0, you the insurance based kind of standard medicine model, medical model. Not only are you sick that patients are sick of it too, they are the people who have the possible income are happy to pay for medicine 2.0, medicine 3.0. They’re happy to pay for it. And you’ll hear this from patients all the time. Like this is so much better.
01:04:09:10 – 01:04:28:20
Unknown
I’m so sick of my primary care provider, you know, seen for five minutes. And don’t listen to me. You know, it’s just. Yeah. So it’s a win win for everyone. Yeah. Yeah. That’s awesome. Yeah. I’m excited to kind of change this up and do something that is better for my patients. Yeah 100%. It’s better for you and your family too.
01:04:28:20 – 01:05:05:19
Unknown
Really is. You know, the questions. No guy like Danny upset with you asking me a question, a personal curiosity or just a question directly for me? Yeah, I do have one, actually. And it was about. Yeah. So, and I wrote it down. Well, it was, it was what is the most under use, like in terms of nurse practitioner as entrepreneurs, what is like the most under leveraged or underused thing going on?
01:05:05:21 – 01:05:13:08
Unknown
Right now that you think people should be paying more attention to?
01:05:13:10 – 01:05:36:02
Unknown
I think I think you’re doing it. I think it’s longevity. Okay, I really do. I think a lot of this stuff is, you know, unfortunately, a lot of this stuff is becoming saturated. I mean, I think that, you know, certainly you and the people listening to this podcast that are sick and tired of medicine. 1.0, you know, there’s a lot of people out that are sick a lot of providers are MDS.
01:05:36:02 – 01:06:01:04
Unknown
Dios PA is is not chiropractors. It’s not just us, you know, and people are just sick of it. And I think that I think that this, this cash based space, you know, in terms of like, you know, HRT and wellness and esthetics and I.V. infusion and these sorts of things, you know, stuff that basically Leanne has been teaching people for, you know, five, six years.
01:06:01:06 – 01:06:24:23
Unknown
It’s becoming saturated because I think it’s just a lot of people are wanting to get into it. And so I think that for some people, I think if you want to separate yourself out, I think it’s something that’s just being highly underused and not really big, and it’s not really be given the the credibility it deserves. I think it is a lot of it’s the longevity of and that’s kind of where I, that’s where I’m moving in my mind as well.
01:06:25:01 – 01:06:50:14
Unknown
So I think you’re doing I think you’re doing it. Okay. Cool. Well that’s a great answer I like it. Yeah. Like you really. That’s where you should be focusing. If I was you. You are in a highly you’re in a densely populated area with lots of competition. How do you separate yourself from that? You know, you want to just open up just another wellness clinic, another med spa.
01:06:50:16 – 01:07:17:16
Unknown
It’s it’s nothing special, right? Yeah. It’s it’s just not. And so, you know, these things follow as curves. So basically, you know, you think about the shape of an S right. The very bottom of the s is where, you know, where it’s kind of moving up until it curves up that you know, that that that initial move up is where just initial traction and awareness is developing in the market.
01:07:17:17 – 01:07:41:17
Unknown
This is absolutely any business. Okay. That phase right there is where you start learning about it. And then when the S moves up, that’s when the adoption phase happens. Typically you only have 12 or 24 months to get in on that. All right. And then when the s thing curves back around right then becomes flat, that’s when it’s plateaued.
01:07:41:18 – 01:08:06:22
Unknown
And that’s when it’s hard to get into it. But this is the thing most people cannot look that far in the future. They just simply cannot. They just lack the ability to. And this is why FOMO happens. Fear of missing out. This happens with investing. This happens with business. And that’s where most people try to get in is when their s flattens out and it plateaus.
01:08:07:00 – 01:08:31:15
Unknown
Most people are too scared to get in right? Win at the bottom of the s. When is the adoption phase and it begins moving up? The increase of that’s only happens over 12 or 24 months and then it plateaus. Okay, so I’m thinking with investing as well. And so I think in my opinion, I think the longevity space, I don’t even think we’ve even really started going up the s quite yet.
01:08:31:17 – 01:08:55:14
Unknown
I think we’re going to go to that. Yeah. Yeah we’re going to be there soon. Next 12, 12 months probably will know one another 12 to 24 months. And then you see one of these on every corner. All right. So you doing it now positions you as that authority in the space in your area. Right. You’ll be building out a significant patient volume.
01:08:55:14 – 01:09:22:12
Unknown
You begin stablish the social proof through reviews and etc. word of mouth, all that kind of stuff. You position yourself and now you lock yourself in and now you are good to go. And now Ara, as everyone follows as yes plateaus, you don’t have to worry about it. You don’t because you’re established now. Okay? That’s, that’s that’s just what happens with every single business.
01:09:22:14 – 01:09:56:14
Unknown
It just it it does. It’s just what happens. Okay. It’s like, investing as an example, investing right now if you would invest invested in semiconductors, okay, semiconductors like Nvidia or an AK and some of this, data center built out stuff for AI. So if you’re investing in SanDisk, in micro, Advanced Micro Devices and like all these different things, okay, you know, to build the memory out and the storage and stuff with these data sources, this I build out the time to invest do it was a year ago, okay.
01:09:56:14 – 01:10:15:12
Unknown
That was the beginning of the adoption phase. The s has gone up and it has plateaued now. And now it’s FOMO. And now those stocks are dropping and now they’re just plateauing. And now you’re not going to you’re not going to make the thousand percent return you could have a year ago. Okay. This the same thing with this.
01:10:15:14 – 01:10:47:00
Unknown
It will be 1,000% return for you if you get it now. And you do it the right way and you’re patient, you stick with it. Just be patient with it. Be consistent with it. Don’t quit. Yeah okay. That sounds good. Yeah I’m I’m excited that you think that this is a good time to getting into this space because you know you hear a lot of HRT but I, I agree I think longevity is still something that people are just now starting to think more about and really focus on that as a different way of doing health care.
01:10:47:00 – 01:11:09:02
Unknown
So that’s awesome 100%. It’s truly preventative medicine. It’s I mean, that’s what it is. It is preventative medicine. It’s not functional. Functional medicine. People already got problems and now you’re trying to figure it out. And I try to figure out the root cause. Right. Like for you is preventative catching too early and preventing stuff from ever even happening.
01:11:09:06 – 01:11:33:10
Unknown
Right. So yeah, it’s like, it’s like guardians, you know, the, the diabetes medication, SG two one blocker or agonist, wherever the hell it is. I forgot the exact, type of medicine it is, but, Guardians basically what it all it does is it just essentially binds to receptors in your kidney, and you just pee out glucose.
01:11:33:11 – 01:11:56:03
Unknown
It’s literally all it does. What it does. Okay. You piss out 80 to 100g of sugar every day. So what it does. So you’re basically peeing out 3 or 400 calories a day, and you’re reducing the, the, the metabolic load on your system from the, from the glucose, or you’re improving your insulin sensing sensitivity, you’re improving your metabolic health.
01:11:56:03 – 01:12:16:10
Unknown
Not only does it do that, but also where sugar goes, water goes. So it’s a little bit of a diuretic too. So it gets excess fluid off of you. It lowers your blood pressure. It lowers your blood pressure. It also lowers the the preload on the heart, lowers the afterload on the heart and improves kidney function. It helps improve, long term, long term outcomes.
01:12:16:10 – 01:12:36:18
Unknown
People with congestive heart failure, myocardial infarction, kidney disease, all kind of different things. So like it truly is. It truly is a longevity medicine. I take ten milligrams a day at it. He’s going to ask it sounds like you’re saying this is because I haven’t heard of this in the longevity space yet, but maybe I’m missing. I haven’t done enough research into it.
01:12:36:18 – 01:12:57:11
Unknown
So, you know, you hear a lot about the GLP ones in the, longevity space. That jargon sounds like it’s not just the diabetes medication. It’s no, not a long term now. It’s it’s it’s a diuretic as well. I mean, it does other things. It binds to some other receptors in your body as well. And improves. And you know, again I think it produces left ventricular hypertrophy.
01:12:57:11 – 01:13:21:14
Unknown
And it does it does some other things. It’s relatively benign. It’s pretty safe. You know it is expensive. I spent $300 a month on it okay. Like I spent 300 bucks a month on it for 30 pills. It’s it’s not cheap. So, but it’s it, it’s it’s a benign medication. It’s fairly safe. As long as you’re consuming carbs.
01:13:21:14 – 01:13:39:07
Unknown
You would not want to take Jardines on a keto diet. You would want to do that would put you in the ketoacidosis. Okay. So so you do need to consume carbs while you’re on it. But the great thing is, is that I know that I’m going to pull 80 to 100g of carbs a day, so I want that piece of cheesecake.
01:13:39:07 – 01:13:59:14
Unknown
I have that piece of cheesecake, you know. Yeah, that I can’t. No weight problem. It’s great. Like, yeah, I know, I’m just peeing it out. And peanut that cheesecake I just know I am. Yeah, I mean like at lower my blood pressure like ten points. It’s great medication you know. And it’s it’s a completely off label. I’ve diabetes.
01:13:59:16 – 01:14:35:05
Unknown
You know what I mean? I don’t need it. Right. So it’s just things like that. Right. There’s so many different medications like that that are out there that have so many interesting longevity. Indications for it that from an off label perspective, you know, it’s healthy. It’s it’s a healthy thing to take. Like, why would you sit here and waste your money and time on a supplement that has very little data behind it, you know, has a few clinical studies based on it that were, you know, done by the by the company that makes the vitamin, you know what I mean?
01:14:35:05 – 01:14:59:13
Unknown
And you’re taking this herb, you’re taking this vitamin or whatever expecting thinking about you. Yeah. That you’re getting this result from it. Why would you do that when instead you can take something like Jardines that has thousands of studies backing it, and we know exactly what it does, and it’s made by, you know, Glasco, Smith and Kline or whatever, like it’s made by a pharmaceutical company.
01:14:59:13 – 01:15:17:03
Unknown
So, you know, it’s going to be pure, you know, it’s going to be clean. Like, why would you why would you sit here and take these supplements and stuff when you take something like that? But you know, for a fact it’s safe, you know? Yeah. Well, I totally agree with you, but I know there’s people out there that are very natural and want to take the supplement because it’s natural.
01:15:17:03 – 01:15:29:18
Unknown
So yeah, you know, that’s and that’s fine. You know the supplements do you should be taking some supplements as well. I you know, I do too. Absolutely for sure. But why not take other things. Do you know. So that’s what you want to be doing. And I think that’s where I think we’re going to be moving into.
01:15:29:23 – 01:15:39:18
Unknown
So good question. Yeah. Awesome. Cool. Awesome episode. Appreciate you being on your thank you so much for having me. All right. Thank you Mike.
01:15:39:20 – 01:15:59:05
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 state’s practice laws and the most up to date clinical guidelines.
01:15:59:06 – 01:16:11:01
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.
