Private Practice Survival Guide
This podcast is all about empowering you to create the change you want to see in your practice. As a private practice strategist, I have dedicated my career to transforming the way that healthcare functions.
Brandon Seigel, President of Wellness Works Management Partners, is an internationally known private practice consultant with over fifteen years of executive leadership experience. Seigel's book "The Private Practice Survival Guide" takes private practice entrepreneurs on a journey to unlocking key strategies for surviving―and thriving―in today’s business environment. Now Brandon Seigel goes beyond the book and brings the same great tips, tricks, and anecdotes to improve your private practice in this companion podcast.
privatepracticesurvivalguide.com
Private Practice Survival Guide
Cash Flow vs. Profit: Why Your P&L Is Lying To You with Sean Healy
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In this episode of the Private Practice Survival Guide Podcast, host Brandon Seigel, joined by Sean Healy of Accounted4, unravels the complex relationship between cash flow and profit in private practice. They dive deep into why a profitable P&L doesn't always translate to available cash, and how business owners can navigate these financial waters effectively. Sean shares invaluable insights into the "three languages of business"—profit, EBITDA, and cash flow—emphasizing the latter as the true heartbeat for entrepreneurs. This discussion is a must-listen for any private practice owner aiming to achieve genuine financial transparency and make data-driven decisions that foster sustainable growth.
What You'll Learn:
- The fundamental differences between cash flow and profit and why both are critical.
- How owner compensation, debt, savings, taxes, and asset purchases impact your cash flow after profit.
- The dangers of hyper-growth and misaligned owner salaries on financial stability.
- Key performance indicators (KPIs) like break-even numbers and daily visit averages for predicting financial health.
- Why focusing on collected revenue over billed amounts is essential for accurate financial assessment.
- A clear explanation of the balance sheet and its significance beyond just bank account balances.
Gain clarity on your financial statements and empower your private practice for long-term success.
#PrivatePractice #CashFlow #Profitability #SmallBusinessFinance #Accounted4
Sean Healy is the President and Founder of Accounted4 LLC, a leading firm specializing in financial management and advisory services. With over two decades of experience, Sean has built Accounted4 into a trusted partner for businesses seeking expert guidance on accounting, operational strategies, and financial planning. His vision for the company centers on empowering clients with transparent, data-driven solutions tailored to their unique needs. Passionate about innovation and client success, Sean is driven with a commitment to delivering personalized service and fostering long-term financial health for the organizations Accounted4 serves.
Welcome to Private Practice Survival Guide Podcast hosted by Brandon Seigel! Brandon Seigel, President of Wellness Works Management Partners, is an internationally known private practice consultant with over fifteen years of executive leadership experience. Seigel's book "The Private Practice Survival Guide" takes private practice entrepreneurs on a journey to unlocking key strategies for surviving―and thriving―in today’s business environment. Now Brandon Seigel goes beyond the book and brings the same great tips, tricks, and anecdotes to improve your private practice in this companion podcast.
Get In Touch With Me
Podcast Website: https://www.privatepracticesurvivalguide.com/
LinkedIn: https://www.linkedin.com/in/brandonseigel/
Instagram: https://www.instagram.com/brandonseigel/
https://wellnessworksmedicalbilling.com/
Private Practice Survival Guide Book
This show is proudly produced at PS Studios — learn more https://www.psstudios.co
