Practice CEO: The Evolution of Independent Healthcare in a Corporate World - Special Snack Episode, EP 176

Tracy Cherpeski 4/23/25 Tracy Cherpeski 4/23/25

Escape Velocity: Breaking Free from Full-Time Clinical Practice Through Strategic Investments, Featuring Dr. Amir Baluch, EP 175

In this episode, we speak with Dr. Amir Baluch, a semi-retired anesthesiologist and founder of Blue Capital Partners, about alternative investment strategies for healthcare providers. Dr. Baluch shares insights on creating passive income streams, the importance of diversification beyond traditional stocks and bonds, and how strategic investments can "buy back time" for busy practitioners. While much of his financial advice offers valuable perspective for healthcare providers looking to reduce clinical hours and focus more on business development, we also provide important context regarding his comments on real estate investment and political policies that may contradict current research on housing affordability and economic impacts.

Episode Highlights:

The Power of Passive Income: How investing in alternative assets can create freedom in your schedule and reduce dependence on clinical hours
Diversification Strategy: Why relying solely on traditional investments like stocks may not provide adequate returns in the coming decade
Risk-Adjusted Returns: Understanding how to evaluate investments beyond just the stated return percentage
Time vs. Money: Creating a strategic plan to gradually reduce clinical hours through passive income
Marketing vs. Sales: The critical differences between creating awareness and converting leads
Building a Sellable Practice: The importance of treating your practice like a business that could someday be sold

Producer's Notes:

Two topics discussed in this episode warrant additional context:

Single-Family Home Investments: Institutional investor ownership of single-family homes has grown significantly, with just 32 institutional investors collectively owning 450,000 single-family homes by 2022. Research indicates non-individual investor ownership of single-family rentals increased from 17% in 2001 to 25% in 2021, with projections suggesting institutional investors could control 40% of U.S. single-family rental homes by 2030. This trend is contributing to the housing affordability crisis in many markets.
Policy Impacts: Despite Dr. Baluch's enthusiasm about certain administration policies, current evidence suggests recent tariffs, immigration policies, and cuts to housing programs are adversely affecting housing affordability. Housing experts note that deportation plans could severely impact the construction industry, as immigrants make up approximately 30% of the construction labor force at a time when the National Association of Home Builders projects a need for 2.2 million new skilled construction workers.

Sources:

Government Accountability Office (GAO). "Rental Housing: Information on Institutional Investment in Single-Family Homes." May 2024.
Joint Center for Housing Studies of Harvard University. "8 Facts About Investor Activity in the Single-Family Rental Market." 2024.
MetLife Investment Management. "Housing Market Projections Report." 2023.
The Washington Post. "Investors bought up a record share of homes last year." February 2022.
Center for American Progress. "Americans Recognize Housing Affordability Crisis." October 2024.
National Association of Home Builders. "Understanding Housing Affordability in Today's Market." July 2024.
Bankrate. "How Will Tariffs And Deportations Affect Housing?" April 2025.
Newsweek. "Trump Tariffs Could Slow US Housing Market in 2025." March 2025.
ProPublica. "Trump Says He'll Fight for Working-Class Americans. His First Presidency Suggests He Won't." November 2024.
National Low Income Housing Coalition. "Impacts of Trump Administration Executive Orders." April 2025.

Notable Quotes:

"If you diversify across enough asset classes, you could reduce your risk by 80% and still get the same returns." - Dr. Amir Baluch
"When people don't write it down on a piece of paper, it never happens. They throw money here and there and a couple of investments. But at the end of the year, okay, how much time did that buy you back?" - Dr. Amir Baluch
"Just imagine every dollar bill you have is a little soldier. You just want to put it to work out there." - Dr. Amir Baluch
"If you're not measuring it, it doesn't get managed." - Dr. Amir Baluch
"I think that's the key. Take your time and energy so that you can work on the business instead of being in it all the time." - Host

Bio:

Dr. Amir Baluch is a Wall Street Journal and international bestselling author who retired from anesthesiology in his early 40s to focus on transforming wealth management for healthcare professionals. After experiencing his father's bankruptcy and personal setbacks in 2001, he developed alternative investment strategies that have since helped numerous medical professionals achieve financial independence.

As founder of Blue Capital Partners, Dr. Baluch manages over $700M in projects, specializing in creating passive income through real estate, private equity, and private credit investments. His expertise has been featured on ABC News, Business Insider, and Forbes. He's dedicated to empowering 10,000 healthcare professionals to secure financial freedom through recession-proof investment opportunities that provide not just wealth accumulation but also tax reduction and lifestyle flexibility.

Dr. Baluch brings a unique physician-focused perspective to financial planning, having personally implemented the strategies he teaches to achieve early retirement and build lasting wealth.

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Tracy Cherpeski 4/18/25 Tracy Cherpeski 4/18/25

Thriving Practice Podcast: Practice Leadership - Balancing Professional Demands and Personal Needs - Special Snack Episode, EP 174

In this special "snack episode" of the Thriving Practice Podcast, our Manager of Operations and PR, Miranda Dorta, turns the mic around to interview Tracy Cherpeski, examining the reality of healthcare practice leadership. This candid, unscripted conversation explores how practice owners can achieve sustainable growth without sacrificing personal well-being. Tracy shares her evidence-based approaches to sustainability, effective boundary setting, and the systems that support healthcare practice owners, offering valuable insights on achieving harmony between professional demands and personal needs.

Main Points:

Well-being vs. Work-Life Balance: Tracy defines well-being as the complete picture encompassing physical, mental, and spiritual health along with business health. She challenges the concept of "balance," suggesting that harmony with one's life goals is more realistic for business owners.
The Importance of Slowing Down: Tracy emphasizes that the first step to protecting time and energy is slowing down to gain "crystal clarity" about personal and professional goals, which allows practice owners to prioritize effectively.
Recognizing When Growth Threatens Well-being: Through reflective questioning and coaching, Tracy helps healthcare professionals recognize patterns that compromise their well-being and guides them to meaningful "aha moments" about self-care.
Addressing Perfectionism and Control: Tracy normalizes the control tendencies common in healthcare entrepreneurs while helping them learn true surrender—not abdication but rather building trust in themselves and their teams.

Notable Quotes:

"Well-being is really the entire picture of the human being's health—physical, spiritual, and mental—as well as the business."

"I just don't believe in balance... Most of us spend more of our waking hours working than we do being home. So right away we're out of balance. So are we in harmony with what we want out of life and the business that we want?"

"The most important piece of the puzzle is to slow down... It's really important to slow down so that we can get really clear. And this is the key to everything—crystal clarity."

"Physicians in particular are trained like never to let anybody see them sweat... It takes a while to sort of crack that facade and allow their real deep humanity to come out."

"When we put it back on them to look at themselves and to trust themselves, it changes the responsibility... They double down then on the responsibility to ensure that their team has what they need so that they can take their hands off of it."

"Most of the time, the desire to control ends up being the Achilles heel... when they recognize that it's probably the cause of a lot of their challenges and energy drains, it becomes a little bit easier to let go."

Miranda’s Bio:

Tracy’s Bio:

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Tracy Cherpeski 4/16/25 Tracy Cherpeski 4/16/25

Creating Programs That Transform Patient Results with Joanna Sapir, EP 173

In this episode of the Thriving Practice Podcast, host Tracy Cherpeski interviews Joanna Sapir, a business strategist who specializes in helping wellness practitioners build thriving practices without burning out. Airing during Stress Awareness Month, this conversation explores Joanna's revolutionary approach of "stop selling sessions, start creating programs" that helps practitioners create more predictable business models while delivering better outcomes for clients. Drawing from her own burnout experience as a practice owner, Joanna shares practical strategies for designing effective programs and treatment plans that benefit both practitioners and their clients.

Episode Overview

Key Highlights

The Burnout Reality: How Joanna's emergency room visit within her first year of business became a wake-up call to reimagine how wellness practices can operate
Paradigm Shift: The fundamental difference between selling individual sessions versus creating comprehensive healing journeys
Business Benefits: How programs eliminate the financial impact of no-shows and create predictable, sustainable revenue
Client Outcomes: Why structured programs lead to better compliance, deeper healing, and more satisfied clients
Implementation Framework: Practical steps for designing programs that align with your modality and client needs
Transition Strategies: How to introduce programs to existing clients without disrupting relationships
Sales Process: Creating authentic enrollment conversations that align with healing values

Topics Covered

The profound difference between "packages" (discounted sessions) and true treatment programs
Front-end and back-end program structures for different practitioner types
How programs provide essential "guardrails" that keep clients on track with their health goals
Why selling sessions creates unpredictable income and client progress
The iterative approach to refining your programs over time
Creating systems that allow practitioners to "just show up and do their best work"
How program-based practices can scale more effectively

Featured Examples

Joanna shares two detailed program models:

Physical Practitioner Model: A body worker's 6/9/12-week assessment-based treatment plans for pain relief and injury recovery
Therapeutic Practitioner Model: A nervous system specialist's six-month cohort-based program for disordered eating with group and individual components

Resources Mentioned

Free Systems Guide: Three essential business systems for wellness practitioners:

Lead generation system
Lead capture system
Sales process system

Last week's solo episode on physician wellness and burnout prevention
Joanna's comprehensive business development programs for wellness practitioners

Episode Quotes

"Stop selling sessions and start creating programs and treatment plans." - Joanna Sapir

"When you have the systems and structures in place, you get to just show up and do your best work with the client." - Joanna Sapir

"If you don't have a business that's making money that's sustaining you sufficiently, you have an incredibly expensive hobby." - Tracy Cherpeski

"It's not necessarily about there being some people who are committed and some who aren't. It's actually about the boundaries you put in place, the guardrails that keep people in the lane." - Joanna Sapir

"You can have a beautifully authentic, meaningful, connected sales process that enrolls your patients or your clients in these programs... it's a win-win-win all around." - Joanna Sapir

Bio:

Joanna Sapir is a business strategist who helps wellness practitioners build thriving practices without burning out. Joanna specializes in helping practitioners move from the unpredictable cycle of selling individual sessions to creating comprehensive programs and treatment plans that provide better client outcomes while creating sustainable, predictable income. Her clients include acupuncturists, bodyworkers, movement specialists, and practitioners who combine multiple healing modalities.

Through her work, Joanna helps wellness professionals properly price and package their services, develop steady predictable income, clarify their unique vision and voice, and create systems that allow their businesses to run smoothly without constant hands-on management. Her ultimate goal is to help practitioners create the freedom and fulfillment that attracted them to healing work in the first place, while building businesses that truly support their desired lifestyle.

Based in Central Mexico (as of this recording), Joanna continues to expand her impact by helping practitioners worldwide transform their approach to business and client care.

Find Joanna:

Link to free resource https://joannasapir.com/lp/systems/

Facebook

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Tracy Cherpeski 4/9/25 Tracy Cherpeski 4/9/25

The Silent Epidemic: How Stress Impacts Healthcare Practice Owners, EP 172

In this special solo episode for Stress Awareness Month, host Tracy Cherpeski shares insights from the Sonoma-Mendocino Lake County Healthcare Expo and Conference on physician wellness and burnout. Drawing from her 15+ years of consulting experience with healthcare practices, Tracy discusses how the unique challenges faced by independent practitioners affect both personal wellbeing and business success.

Key Highlights

The Burnout Crisis: 63% of physicians report at least one symptom of burnout according to Mayo Clinic research
Double Impact: Practice owners face both clinical stress and business ownership pressures
Strengths Becoming Weaknesses: How the qualities that make great healthcare providers (service orientation, high standards, problem-solving abilities) can undermine personal wellbeing
Business Consequences: How unmanaged stress directly impacts practice revenue, staff retention, patient experience, and clinical decision-making
Practical Solutions: Stress management strategies specifically designed for independent practitioners and small practice owners

Topics Covered

The unique stress patterns observed in healthcare practitioners vs. other professionals
How to recognize early warning signs of burnout in yourself and colleagues
The measurable business costs of practitioner stress
Practical interventions that serve both wellbeing and business optimization
Why institutional wellness approaches often fail independent practitioners

Featured Framework

Tracy's coaching approach for practice owners includes:

Eight-area life assessment to identify imbalances
"Threshold interventions" - small changes at critical junctures of the day
Environmental modifications to reduce stress triggers
Intentional calendaring and boundary-setting
Integration of wellbeing strategies with business optimization

Resources Mentioned

Free Burnout Prevention Guide: Available at PracticeSuccess.co/resources (scroll to bottom of page), WHO's official burnout definition and 12-stage progression model

Episode Quotes

"In healthcare, your most important business asset isn't your equipment, your location, or even your patient list—it's you. And when you're operating from a place of chronic stress, every business metric eventually suffers."

"Addressing practitioner stress isn't just a wellness nicety—it's a business imperative with measurable ROI. When practice owners invest in their wellbeing, they're making one of the most significant business investments possible."

"We take the approach of building one's business around the life they want to live, not the other way around."

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Profit First for Minority Business Enterprises

Tracy Cherpeski 4/2/25 Tracy Cherpeski 4/2/25

Stop Working for Free: A CFO's Guide to Medical Practice Profitability Featuring Susanne Mariga, EP 171

In this essential episode, we dive deep into the Profit First methodology and its game-changing impact on medical practices. Susanne Mariga, fractional CFO and co-author of "Profit First for Minority Business Enterprises," shares how implementing a simple five-bank-account system can create intentional profitability while improving patient care. This conversation addresses the critical gap in business education for medical professionals and offers practical solutions for building sustainable, profitable practices.

Key Points:

The traditional accounting equation (revenue - expenses = profit) often leads to practice owners working for free
How the Profit First system creates intentional profitability through designated bank accounts
Why profitable practices deliver better patient care and attract top talent
The importance of building business value for eventual sale or retirement
Practical steps for implementing Profit First, starting with small, manageable changes
How automated banking systems can help enforce profitability
The connection between practice profitability and work-life balance

Resource Highlight: "Profit First for Minority Business Enterprises" by Susanne Mariga and Mike Michalowicz

Each book purchase supports girls' education in Zimbabwe through Hope Worldwide
Includes specific strategies for implementing Profit First
Features tax strategy and pricing guidance for business owners

Susanne’s Bio:

Susanne Mariga is a CPA and Fractional CFO specializing in high net worth tax strategies for 7 and 8 figure entrepreneurs using the Profit First System.

Susanne is the CEO of The Mariga Group which is a Goldman Sachs 10,000 Small Business, the 2021 Profit First Professional Firm Of The Year, and a recipient of the 2011 Houston Minority Supplier Development E-10 Award. Susanne has been featured in the Houston Business Journal, MBE Magazine, and in a variety of other media outlets. She is the author of Kirkus reviewed and Publisher’s Weekly’s Editor’s Pick, Profit First For Minority Business Enterprises which was written in collaboration with Mike Michalowicz, under the Profit First brand. She is the host of the Profit Talk Podcast.

Before founding her own firm, Susanne worked at Arthur Andersen LLP, as well as one of the Big 4 firms, KPMG. Combining her industry knowledge with her own experience of growing a small business has allowed Susanne to help her clients design unique, profit-first based business plans that ensure success and long-term financial stability.

As a Certified Profit First Professional (PFP) at the Mastery Level, she is passionate about helping entrepreneurs maximize their revenue, grow their business, and save dollars through sound tax strategies.

Find Susanne:

Company Website

Susanne’s Website

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Tracy Cherpeski 3/28/25 Tracy Cherpeski 3/28/25

Beyond the Agenda: Creating Psychological Safety in Group Facilitation - Special Snack Episode, EP 170

In this special "snack episode" of the Thriving Practice Podcast, Miranda Dorta turns the tables and interviews Tracy Cherpeski about the human side of group leadership. This candid, unscripted conversation explores Tracy's insights on facilitation, psychological safety, and the subtle dynamics that shape group interactions. Tracy shares personal stories and practical wisdom gained from years of experience working with healthcare providers and corporate clients.

Episode Highlights:

Tracy shares a humbling learning moment from her earlier facilitator days when a communication mishap taught her to prioritize understanding her audience over sticking to her agenda
The importance of improv techniques as Tracy's most valuable facilitation tool for creating authentic learning moments
How psychological safety feels in the body - the absence of tension and the presence of ease
Creating "the least restrictive learning environment" as a cornerstone of effective facilitation
Tracy's excitement about the growing emphasis on psychological safety and wellness in professional settings post-COVID

Notable Quotes:

"Don't be afraid to pause the agenda in order to really understand the people that are your audience."

"I think it's really important to come in as a facilitator with the intention of creating the least restrictive learning environment. If we're here to learn, then we need to set the tone for the learning."

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Tracy Cherpeski 3/26/25 Tracy Cherpeski 3/26/25

Numbers, Notes, and Confidence: A Musical CFO's Approach to Practice Growth Featuring Danielle Hendon, EP 169

In this episode, we dive into the world of financial clarity and confidence with Virtual CFO Danielle Hendon. From her unexpected journey from opera singer to CPA, to her mission of transforming business owners' relationship with their numbers, Danielle shares valuable insights about what it really means to be in command (not just in control) of your business finances.

Key Episode Highlights:

- What a fractional CFO does and why it matters for practice owners

- The critical difference between being "in control" vs "in command" of your business

- Why understanding your numbers is about more than just tracking expenses

- How to move from financial anxiety to confidence in your decision-making

- Common challenges highly credentialed professionals face when running a business

- The importance of having data-backed decisions for business growth

- Simple ways to start understanding the story your numbers are telling

- Why splitting up your revenue streams can transform your financial clarity

- How proper financial support can help prevent burnout

Memorable Quote:

"Your time is going to make you so much more money in your zone of genius than trying to figure this piece out."

Key Takeaway:

A budget isn't meant to restrict you - it's a roadmap that guides you toward your business goals. Understanding your numbers doesn't mean giving up control; it means gaining the confidence to make better decisions for your practice's future.

Danielle’s Bio:

Danielle is a CPA and Virtual CFO who helps small business owners maximize their profits and personal income. With over a decade of corporate finance experience, she founded 4 Corners CFO after witnessing firsthand how financial expertise could make or break a business. She translates complex financial concepts into actionable strategies, enabling entrepreneurs to make data-driven decisions, establish sustainable growth, and pay themselves appropriately.

Through her Breakthrough, Focused, and Comprehensive CFO services, she provides scalable financial guidance - from foundational support for emerging six-figure businesses to full-service accounting and strategic planning for established entrepreneurs. Her mission is helping business owners move from burnout to abundance by understanding and intentionally growing their profits.

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Tracy Cherpeski 3/21/25 Tracy Cherpeski 3/21/25

From Survival to Mission: A Founder's Evolution in Healthcare Leadership - Special Snack Episode, EP 168

In this special "snack episode" of the Thriving Practice podcast, host Miranda Dorta interviews Tracy Cherpeski about her journey in building a mission-driven company. Tracy shares her unexpected path into coaching, beginning as a necessity during a major life transition with young children, and evolving into a focused healthcare provider coaching practice. The conversation reveals how her initial desire for career flexibility transformed into a larger vision of creating systemic change in healthcare, while offering insights into leading a mission-driven organization.

Key Points:

Tracy's journey into coaching was unexpected, transitioning from international work and consulting after a major life change
The company's evolution from a general coaching practice to a specialized healthcare provider focus
The importance of staying committed to your mission, even when it feels "weird" (which Tracy notes comes from the word "supernatural")
How the company's vision expanded from seeking work-life flexibility to creating systemic change in healthcare
The value of remaining deeply connected to client work while maintaining professional boundaries
The importance of fostering team creativity and allowing new perspectives to shape the company's growth

Notable Quote: "Self disclosure - if you ever want to learn what you're really made of, start a business." - Tracy Cherpeski

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Tracy Cherpeski 3/19/25 Tracy Cherpeski 3/19/25

The Human Touch: Building Healthcare Practices Worth Preserving Featuring Michael Silva, EP 167

Many healthcare providers are excellent clinicians but weren't trained in business fundamentals. In this episode, physical therapy practice consultant Michael Silva shares insights from his journey from frustrated employee to successful practice owner to helping others build sustainable private practices. Drawing from over 25 years of experience, Michael emphasizes how exceptional patient experience and solid business systems create practices worth preserving.

Key Takeaways:

- Why focusing on hospitality over basic customer service creates lasting patient relationships

- The importance of standardized systems and processes for sustainable growth

- How to build a practice that's sellable versus one dependent on the owner

- Creative exit strategies that keep private practices private

- Practical tips for creating positive patient experiences, including the 10/5 rule for patient greetings

- Why word-of-mouth marketing through exceptional service beats paid advertising

- The value of investing in experienced business guidance early in practice development

Notable Quotes:

"Business is business. Your clinical way of doing things can be what sets you apart, but if you don't have systems, you're not going to have an efficient business."

"Everyone walks into our office with a 'help me' sign on their head - you're here for them."

Michael’s Bio:

Michael Silva is a healthcare business consultant and founder of the RUNstrong® program, leveraging over 25 years of physical therapy and practice management experience. After building FOUNDATIONperformance Sports Medicine from a basement office to a three-location practice with 24 employees, he successfully sold to Performance Physical Therapy (now Highbar) in 2021.

Drawing from his experience as both practice owner and acquirer, Michael now helps healthcare providers across North America build, grow, and exit their practices successfully. He's a sought-after speaker on topics ranging from running injuries and rehabilitation to creating ideal client experiences in private practice.

Find Michael:

Michael’s Website

Company Website

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Tracy Cherpeski 3/12/25 Tracy Cherpeski 3/12/25

The Secret Weapon for Healthcare Practices: Understanding Fractional CFOs Featuring Lizette Peña, EP 166

In this episode, we sit down with Lizette Peña, CPA and fractional CFO at Ascent CFO Solutions, to explore how fractional CFO services can help healthcare practices thrive. With over 30 years of experience, Lizette shares valuable insights on managing the business side of medicine while keeping focus on patient care.

Key Discussion Points:

The role of a fractional CFO and how it differs from a full-time CFO
Why healthcare practices specifically benefit from fractional CFO services
Essential KPIs every practice owner should monitor
Smart strategies for cash flow management
The importance of understanding your practice's payer mix
How to balance clinical excellence with business acumen

Key Takeaways:

Practices can access high-level financial expertise without the full-time executive cost
Regular weekly check-ins with a fractional CFO help maintain strategic focus
Understanding cancellation and no-show rates is crucial for revenue optimization
Strategic vendor payment timing can significantly improve cash flow
Data visualization tools can make financial metrics more accessible and actionable

Important Metrics to Track:

Cancellation and no-show rates
Payer mix (Medicare, Medicaid, private insurance, self-pay)
Claims denial rates
Days to payment
Cash flow and burn rate

Lizette’s Bio:

Lizette Peña, CPA (she/her) brings over three decades of finance and accounting expertise to her role as a Fractional CFO at Ascent CFO Solutions. Based in Colorado, she partners with mission-driven healthcare organizations to optimize their financial strategies and growth. Driven by her belief in business as a force for good, Lizette serves on the Board of Directors for Kachuwa Impact Fund and advises Intercambio Uniting Communities, combining her financial acumen with her commitment to positive social impact.

Find Lizette:

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Download your Practice Owner Energy Audit

Tracy Cherpeski 3/5/25 Tracy Cherpeski 3/5/25

The CEO Nobody Told You You Already Are, EP 165

Did you know that the moment you opened your practice, you became a CEO? It's true - yet no one ever prepares healthcare providers for this crucial role. In this episode, Tracy explores the powerful mindset shift that occurs when practitioners embrace their identity not just as skilled healthcare providers, but as chief executives of thriving healthcare businesses.

Through real stories from practice owners and practical insights from business research, discover how thinking like a CEO can transform both your practice and your relationship with it. Learn why this mindset shift isn't just about better operations today - it's about building lasting value for tomorrow.

Episode Highlights:

The hidden transition every healthcare provider makes when opening a practice - from practitioner to CEO
Why excellent clinical skills alone won't guarantee business success
Three critical shifts that helped one physician cut working hours by 30% while increasing revenue
Practical examples of what "CEO time" looks like in a healthcare practice
The overlooked aspect of practice ownership: building a valuable, salable business
How strategic delegation and systems creation can free you to lead rather than just manage
Why connecting with other practice owners is crucial for leadership growth

Key Insights:

Working IN your practice vs. ON your practice: understanding the crucial difference
The importance of dedicated CEO time for strategic planning and business development
How proper systems and delegation can create a practice that's both more profitable and more enjoyable
Why building a salable practice matters, even if you're not planning to sell
The power of surrounding yourself with other forward-thinking healthcare leaders

Free Resource Mentioned:

Download our Practice Owner Energy Audit to identify where your time and energy are going now, and where you might need to make adjustments as you step into your CEO role.

What's Next:

Join us in the Thriving Practice Community, a new global network for ambitious healthcare practice owners who want to elevate their leadership and business mastery. Learn more at ThrivingPracticeCommunity.com about becoming a founding member of this vibrant community.

Tracy’s Bio:

Tracy Cherpeski, MBA, MA, CPSC, is a business consultant and executive coach specializing in healthcare practice leadership. With a background in operations and a passion for growth, she helps practice owners optimize their businesses while mastering leadership and mindset. Through her coaching and consulting programs, Tracy empowers healthcare leaders to build exceptional practices without sacrifice. Based in Chapel Hill, NC, she's committed to helping practices thrive.

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Tracy Cherpeski 2/28/25 Tracy Cherpeski 2/28/25

Tough Nuts, Big Hearts: A Raw Look at Healthcare Practice Leadership - A Special Snack Episode, EP 164

In this candid "snack episode," Miranda Dorta turns the tables and interviews Tracy Cherpeski about transformative moments in her coaching practice. Through unscripted conversations, Tracy shares powerful insights about working with healthcare providers, revealing how vulnerability, cultural awareness, and thoughtful leadership shape successful medical practices. From emergency room physicians transitioning to private practice to international healthcare providers navigating different systems, Tracy's experiences illuminate the common threads that connect all practice owners.

Memorable Quote:

"We slow down to speed up, we slow down to scale up. And so in those first four to six weeks of our work together, you're probably not gonna like me very much because I'm not going to allow you to move at the speed of light... If we're moving too fast, we miss the details, we miss the scenery, we miss the opportunities." - Tracy Cherpeski

Episode Highlights:

- The breakthrough moment with an ER physician-turned-practice owner who finally expressed his business uncertainties, highlighting the importance of creating safe spaces for healthcare providers to be vulnerable

- How working with an Australian physician practicing in Norway challenged Tracy to abandon her usual framework and develop a more culturally responsive approach to coaching

- The consistent pattern Tracy observes across practices: "tough nuts with big hearts" - highly credentialed professionals deeply committed to providing excellent patient care

- The value of "slowing down to speed up" in the first 4-6 weeks of client work, allowing practice owners to spot opportunities they might miss when rushing toward goals

- Tracy's insights on leadership versus management, and helping practice owners find the delicate balance between control and guidance

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Tracy Cherpeski 2/28/25 Tracy Cherpeski 2/28/25

From Hours to Minutes: Streamlining Prior Authorizations with Arrive Health's Innovative Tech Featuring Kyle Kiser, EP 163

In this episode of Thriving Practice, we welcome back Kyle Kiser, co-founder of ArriveHealth, to discuss the company's remarkable growth and its innovative solutions in healthcare technology. Since our last conversation a little over a year ago, ArriveHealth has doubled its revenue, a testament to the value of their real-time benefit network. Kyle shares how their technology is streamlining the prescription process by providing real-time, patient-specific cost information at the point of care.

We explore how this system not only helps patients access more affordable medications but also streamlines the often cumbersome prior authorization process, reducing turnaround times from days to hours. Kyle shares insights on how their solution benefits multiple stakeholders in the healthcare ecosystem, from providers and patients to health plans and pharmacy benefit managers. Join us for an enlightening discussion on the future of digital prescribing, medication management, and how technology is being leveraged to enhance trust between patients and providers.

Key Points:

1. ArriveHealth's core offering: Real-time benefit network for e-prescribing workflows

2. Company growth: Doubled in size from a revenue perspective in the past year

3. How ArriveHealth's technology works:

- Provides real-time, patient-specific cost information at the point of prescribing

- Suggests lower-cost alternatives for medications and pharmacies

- Streamlines the prior authorization process

4. Benefits for various stakeholders:

- Providers: Reduced administrative burden, improved workflow efficiency

- Patients: Lower medication costs, improved adherence, better healthcare experience

- Pharmacists: Cleaner scripts, fewer callbacks

- Insurance companies/PBMs: Cost savings, reduced administrative work

5. Integration with major EMR systems (Epic, Cerner, Athena, eClinicalWorks)

6. Partnership with GoodRx for additional cost-saving options

7. Success metrics: Switch rates more than twice the industry average

8. Future developments:

- Automating downstream processes (e.g., prior authorizations)

- AI-driven adherence tool for patient-provider communication

9. ArriveHealth's mission: Reintroducing consumer choice in healthcare and leveraging trust between patients and providers

Quotes:

"We measure success by how often they accept that. And we're seeing switch rates that are more than twice the industry average." - Kyle Kiser on measuring the impact of ArriveHealth's recommendations

"The most powerful leverage point to solve problems in healthcare is the trust that exists between patients and providers." - Kyle Kiser on the importance of trust in healthcare

Kyle’s Bio:

Kyle is Chief Executive officer at Arrive Health, the leader in delivering real-time cost and coverage data to decision-making workflows. In his role, he focuses on helping providers and care teams improve patient access, affordability, and outcomes while reducing administrative burden. By partnering with health systems, health plans, IT vendors, and pharmacy benefit managers, Arrive health enables transparency and better patient care nationwide.

Since 2013, Klye has helped grow the company from a vision to a reality, and has been at the forefront of some of the most transformational initiatives in healthcare. In particular, he has focused on projects that enable informed decision-making. His focus on interoperability has allowed partners to improve provider workflows and reduce medication costs for millions of patients. Kyle has helped develop incentive strategies for a country’s most innovative employers and led product launches with the nation’s largest payers. Prior to Arrive Health, he was a senior leader at Welltok, Catapult Health, and Principal Wellness Company.

Find Kyle:

Arrive Health Website

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Tracy Cherpeski 2/26/25 Tracy Cherpeski 2/26/25

The 44% Profit Strategy: Transforming Healthcare Practices into Thriving Businesses Featuring Carrie Cook, EP 162

In this episode of Thriving Practice, Tracy sits down with Carrie Cook, a seasoned profit strategist who's transforming the financial landscape for healthcare entrepreneurs. With a unique background spanning 30 years in medicine and an MBA in finance, Carrie brings a wealth of knowledge to the table. She dives deep into the often-overlooked realm of profit strategy in healthcare practices, offering invaluable insights on how providers can build financially robust businesses without compromising their commitment to patient care.

From the critical importance of paying yourself a market-based wage to the transformative power of separating personal and business finances, Carrie unravels the complexities of financial management in healthcare. She shares a remarkable success story, practical advice on changing financial behaviors, and introduces her 44% profit strategy that's revolutionizing how healthcare professionals approach their finances. Whether you're a solo practitioner or running a growing practice, this episode is packed with actionable strategies to help you not just survive, but thrive financially while staying true to your mission of care.

Key Topics Discussed:

Carrie's background: 30 years in medicine to MBA in finance
The importance of profit strategy in healthcare practices
Paying yourself a market-based wage
Separating personal and business finances
The 44% profit strategy breakdown
Success story: Helping a functional medicine doctor increase revenue from $800k to $1.5M
Changing financial behaviors and mindsets
The three foundations of business: finance, marketing, and operations
Addressing the fear of letting go and delegating tasks
The importance of putting yourself first as a business owner

Key Takeaways:

A profit strategy should include contingency funds, reinvestments, taxes, savings, and retirement
Aim for at least 12% profit margin, with a goal of reaching 44%
Commingling personal and business funds can hinder business growth
Changing financial behaviors is simple but not easy - consistency is key
Working with a profit strategist can provide accountability and reinforce positive financial habits

Quotes: "If you're not 4% in revenue annually, you're treading water. We need you at least to be at 12% if you're a service provider." - Carrie Cook "If you put yourself first, you have such a capability of taking care of your business after that." - Carrie Cook

If you're ready to revive your practice's financials and create a thriving, profitable business, reach out to Carrie Cook through her website or email.

Carrie’s Bio:

Carrie Cook is the founder of a vibrant trio of small business focused on money and women owned business. She is dedicated to supporting and empowering female business owners in her community. With a passion for fostering connections and helping women maximize both their personal and professional lives, Carrie offers practical insights on financial growth, money mindset shifts, and intentional financial wellbeing. Her work is rooted in the belief that success flourishes when women support one another, share knowledge, and pursue continuous improvement. Whether through inspiring presentations, insightful workshops, or one-on-one guidance, Carrie is committed to helping others make meaningful financial strides in their journey toward a balanced, fulfilling life.

Find Carrie:

Email: carrie.cook@revivefinancials.com

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Tracy Cherpeski 2/21/25 Tracy Cherpeski 2/21/25

Technology That Gives Your Team Their Time Back: Smart Solutions for Practice Efficiency Featuring William Velasco, EP 161

Does your team spend hours on repetitive tasks that drain their energy and pull them away from patient care? Software development expert William Velasco reveals how the right technology solutions can transform your practice operations without losing the human touch. With nearly two decades of experience helping businesses maximize efficiency, William shares practical insights on how practices can use smart systems to enhance both team satisfaction and patient experience.

In this value-packed conversation, we explore:

- Why many healthcare professionals get stuck doing repetitive, error-prone tasks that waste their talents

- How to identify opportunities for automation in your practice without compromising care quality

- The surprising truth about apps and why most practices don't actually need expensive native applications

- Real-world examples of how practices have transformed their operations with smart technology

- Why collaborative implementation is crucial for successful technology adoption

- The importance of choosing solutions that grow with your practice

- How self-service technology can improve patient engagement while reducing administrative burden

- Key considerations for selecting technology partners who prioritize your practice's success

Key Takeaways:

- Technology solutions should enable your team to work at their highest level, not replace human interaction

- The most successful implementations involve input from all team members, not just leadership

- Systems should be designed around your specific workflow, not forced to fit generic templates

- Practice owners need mental bandwidth for creativity and growth – automated systems can help create that space

Notable Quote:

"It's not only a really bad use of talent, but in some circumstances it becomes demoralizing and you find that a team member doesn't really have that joy for working anymore." - William Velasco

William’s Bio:

William is a visionary leader and the driving force behind Opencentric, a software company dedicated to empowering businesses to achieve sustainable growth through tailored digital solutions. With nearly 17 years of experience as its founder, he has been instrumental in crafting systems that streamline operations, eliminate inefficiencies, and allow teams to focus on what they do best.Under William's leadership, Opencentric has delivered impactful projects for high-profile clients, including HM Treasury, The British Council, and The International Baccalaureate, spanning diverse sectors such as government, education and finance. William is passionate about creating solutions that not only enhance operational efficiency but also empower teams to thrive by removing the burden of administrative overhead. His mission is clear: to build systems that foster innovation, productivity, and lasting success for organisations worldwide.

Find William:

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Tracy Cherpeski 2/19/25 Tracy Cherpeski 2/19/25

Eat More, Feel Better? Debunking Diet Myths and Sharing the Keys to Lasting Wellness Featuring Dr. James Cima, EP 160

In this episode, we dive deep into the world of functional medicine with Dr. Cima, a chiropractor and functional medicine expert with decades of experience. Dr. Cima shares his journey and insights on becoming a "doctor of the future."

Key Topics:

1. The three pillars of health: chemical, physical, and mental-emotional

2. Understanding functional medicine and its holistic approach to wellness

3. The importance of proper nutrition, especially protein intake

4. Simple, actionable steps for improving overall health

5. The concept of "listening to the doctor within"

6. Rethinking traditional approaches to common health issues

7. The role of blood chemistry analysis in functional medicine

8. Balancing hormones and the neuroendocrine axis

9. The impact of the diet industry on health perceptions

Highlights:

Dr. Cima explains how functional medicine differs from traditional allopathic approaches

- Practical advice on increasing protein intake and its benefits

- The importance of having a purpose in life for mental and emotional well-being

- Insights on how blood chemistry analysis can reveal health trends before they become problems

- Discussion on the misconceptions about fat in diets and its importance for health

Quotable Moments:

- "Taking care of your health doesn't take time. It gives you a ton of time." - Dr. Cima

- "The closest you could ever get to God is to bring health to one's fellow man." - Socrates (paraphrased by Dr. Cima)

Action Steps for Better Health:

1. Increase protein intake (consult with a healthcare provider for personalized advice)

2. Develop a basic stretching routine

3. Consider getting regular massage work

4. Reflect on and develop your life's purpose

5. Listen to your body's needs ("the doctor within")

For Healthcare Providers:

- Consider incorporating functional medicine principles into your practice

- Explore blood chemistry analysis for a more comprehensive view of patient health

- Educate patients on the importance of nutrition and lifestyle in overall health

Bio:

Dr. James Cima is a pioneering chiropractor whose journey into holistic healthcare began with his own healing experience. After suffering from debilitating back pain in his youth, he discovered the transformative power of chiropractic care. This personal experience, combined with his passion for healthcare, led him to pursue his education at Cornell University followed by New York Chiropractic College, where he graduated with honors.

Inspired by Thomas Edison's vision of the future of medicine, Dr. Cima has dedicated over four decades to developing comprehensive wellness programs that focus on nutrition, body mechanics, and disease prevention. As an accomplished author and educator, he has trained numerous healthcare professionals and written extensively on holistic health approaches. His expertise spans multiple disciplines, including nutrition, exercise physiology, and neuroendocrinology.

Today, Dr. Cima practices alongside his children, Dr. James Paul Cima and Dr. Natalie DeJesse, continuing his mission to promote optimal health through natural methods. A certified Titleist Performance Institute professional, he also helps golfers improve their game by optimizing their body mechanics. When not serving patients or advancing healthcare education, he enjoys spending time with his four children and eight grandchildren.

Find Dr. Cima:

Facebook

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Tracy Cherpeski 2/14/25 Tracy Cherpeski 2/14/25

Private Equity in Healthcare: A Candid Conversation - Special Snack Episode, EP 159

In this snack episode of the Thriving Practice Podcast, Manager of Operations and PR, Miranda Dorta, turns the microphone around to interview our host, Tracy Cherpeski about the critical topic of private equity in healthcare. Through an unscripted and authentic conversation, Tracy shares valuable insights about the impact of private equity ownership on healthcare delivery, from small family practices to large specialty groups. Drawing from her extensive experience supporting healthcare providers, Tracy breaks down the fundamental differences between private equity and traditional practice ownership models, while offering practical strategies for independent practices to remain competitive in today's evolving healthcare landscape.

Memorable Quote: "As a business person, my mantra is if you're not making money, you have an incredibly expensive hobby. So you have to switch hats and be a business strategist and be the CEO." - Tracy Cherpeski

Episode Highlights:

- Understanding private equity's basic business model in healthcare and how it differs from traditional medical practice ownership

- Key strategies for independent medical practices to remain competitive without selling to private equity firms

- Alternative ownership models, including cooperative structures and multi-owner practices

- The implications of private equity's growth from $5 billion in 2000 to $100 billion by 2018 in healthcare investments

- Discussion of the challenges and risks associated with private equity ownership in healthcare delivery

- Insights into balancing profitability with quality patient care

Looking for a deeper dive into private equity in healthcare? Check out Episode 131 for Tracy's comprehensive analysis of this topic.

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Tracy Cherpeski 2/14/25 Tracy Cherpeski 2/14/25

SEO Secrets for Healthcare Providers: Optimize Your Website to Reach More Patients Featuring Samantha Mabe, EP158

In this episode of Thriving Practice, host Tracy dives into the world of digital marketing for healthcare and wellness practices with web design expert Samantha Mabe, founder of Lemon and the Sea. Samantha shares her wealth of knowledge on creating effective, patient-attracting websites specifically tailored for health practitioners. From the crucial elements of a professional medical website to the nuances of healthcare SEO, this episode is packed with actionable insights.

Discover why your website is more than just an online brochure - it's your practice's digital front door and often the first point of contact for potential patients. Learn how to optimize your site for both search engines and user experience, ensuring it not only attracts visitors but converts them into patients. Whether you're building your first website or looking to revamp your existing online presence, Samantha's expert advice will help you create a digital strategy that aligns with your practice goals and resonates with your target audience. This episode is a must-listen for any healthcare or wellness provider looking to thrive in the digital age.

Key Topics Covered:

- The importance of a professional website for healthcare and wellness practices

- Website accessibility and its legal implications

- SEO strategies for healthcare providers

- Mobile optimization for medical websites

- Balancing aesthetics with functionality in web design

Key Takeaways:

1. Your website is your digital front office - it needs to make a great first impression.

2. Start any website refresh by clearly defining your main goal (e.g., booking appointments, growing email list).

3. Ensure your website is accessible to all potential clients.

4. Check how your website looks on different devices, especially mobile.

5. SEO is crucial for helping the right clients find you online.

Memorable Quotes:

"Do not put your practice name as the headline on your website because very few people are actually searching for the name of your practice." - Samantha Mabe

"We want to make sure that the user journey... makes sense for people and that they're following to the end point you want them to get to." - Samantha Mabe

Resources Mentioned:

- Page Speed Insights (Google's free tool for website analysis)

Thank you for listening to Thriving Practice. If you enjoyed this episode, please rate, review, and subscribe on your favorite podcast platform.

Samantha’s Bio:

Samantha Mabe is a creative director and website designer specializing in custom Squarespace and Kajabi websites for healthcare professionals and wellness entrepreneurs. Through her signature One-Week Website Design process, she helps practitioners like naturopathic doctors, chiropractors, and therapists transform their online presence into powerful marketing tools. A Pittsburgh native with a background in design and architecture, Samantha now calls Richmond, Virginia home, where she balances her creative work with family time alongside her husband and child.

Find Samantha:

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Tracy Cherpeski 2/12/25 Tracy Cherpeski 2/12/25

Becoming Your Own Banker: Infinite Banking to Build Wealth for Practitioners Featuring Dr. Rob Scranton, EP 157

Dr. Rob Scranton introduces us to the concept of Infinite Banking, a 200-year-old strategy that could revolutionize how practitioners approach wealth building and financial security. Learn how you can become your own banker, recapture expenses, and create a stable financial future.

Key Points Discussed:

• Introduction to the Infinite Banking Concept (IBC)

• The benefits of creating your own banking system

• How to recapture expenses for major purchases like cars or practice equipment

• The historical success of this method among wealthy families

• Comparing IBC to traditional banking and investment strategies

• The importance of practitioners being in two businesses: their practice and banking

• How IBC can provide financial stability and growth

Highlights:

Dr. Rob explains the concept of Infinite Banking
Discussion on the legal aspects and history of whole life insurance policies
How practitioners can benefit from creating their own banking system
The importance of financial education and support in implementing IBC

Memorable Quotes:

"I believe everybody should be in two businesses: whatever it is that they do on a daily basis to pay their bills... and I believe they should also be in the banking business." - Dr. Rob Scranton

"Nobody ever lost money in a whole life insurance contract in the history of this industry." - Dr. Rob Scranton

Visit YourFinancialIQ.org to register for Dr. Rob's free masterclass and learn more about how you can implement the Infinite Banking Concept in your financial strategy.

Dr. Scranton’s Bio:

Dr. Robert Scranton is a former financial executive who teaches people how to use their current debts and expenses to grow their wealth outside of the traditional approaches. With his experience in accounting and finance, as well as his experience as the former chief financial architect of a cutting-edge financial firm, Dr. Robert has been able to help people all over the United States take advantage of the Infinite Banking Concept. He hopes to teach people how to recapture, reuse and recycle their own money over and over again so it stays inside of their family, instead of making other people rich.

Find Dr. Rob:

TikTok

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