Thriving Practice with Tracy Cherpeski

---

If you enjoyed this episode, please rate and review us on your favorite podcast platform. Your feedback helps us improve and reach more healthcare practice owners!

Boost Outcomes, Cut Burnout: How Health Coaching Can Transform Your Medical Practice Featuring Sandra Scheinbaum, EP 138

In this episode, we dive into the world of health coaching with Sandra Sheinbaum, founder of the Functional Medicine Coaching Academy. We explore how health coaching can transform patient care and revolutionize healthcare practices.

Key Points:

Sandra's journey from education to psychology to founding a health coaching academy
The role of health coaches in improving patient compliance and outcomes
How health coaching can break down overwhelming lifestyle changes into manageable steps
The impact of health coaching on reducing provider burnout and stress
Health coaching as a communication bridge between patients and healthcare practices
The business case for integrating health coaching into medical practices
Health coaching as a potential career path for healthcare professionals

Notable Quotes:

"When you feel heard, healing is already started." - Sandra Sheinbaum

"Health coaches are the specialists in helping you to change." - Sandra Sheinbaum

"We know that when a practice has a health coach, the stress load on the doctor plummets." - Sandra Sheinbaum

Resources Mentioned:

- Functional Medicine Coaching Academy: functionalmedicinecoaching.org

- Free resources: fmcafreebook.com

Sandra’s Bio:

With over eight years of experience as the Founder and CEO of the Functional Medicine Coaching Academy (FMCA), Sandra is dedicated to training people all over the world to become Functional Medicine health coaches and empowering them to support patients and practitioners in combating chronic lifestyle-related diseases and reducing healthcare costs. As a board-certified Functional Medicine practitioner, Sandra has a deep understanding of the science and art of personalized, holistic, and root-cause-based healthcare.

As an educator and licensed clinical psychologist for over 40 years, she has also developed an innovative model that blends Functional Medicine principles with positive psychology, mind-body medicine, and the psychology of eating. Sandra is the author of several books on health coaching, Functional Medicine, and anxiety management, as well as a frequent podcast guest and contributor to Forbes. Through FMCA, a collaboration with The Institute for Functional Medicine and a fully-approved program by the National Board for Health & Wellness Coaching, she is proud to be a recognized leader in the field of health coaching education and to serve a global population of aspiring and practicing coaches.

Find Sandra:

Connect With Us:

Beyond Insurance: Balancing Operations and Life for Healthcare Practice Success, EP 137

Episode Overview

In this episode of Thriving Practice, host Tracy Cherpeski explores why focusing on your practice's operations is more crucial than obsessing over insurance issues. Learn how to create work-life harmony and optimize your healthcare practice for true success.

Key Topics Covered

- The impact of insurance challenges on healthcare practices

- Why operational excellence trumps insurance concerns

- The concept of work-life harmony vs. work-life balance

- Practical tips for optimizing your practice operations

The Insurance Cloud

- Acknowledgment of insurance challenges in healthcare practices

- Why focusing solely on insurance isn't the answer

The Power of Operations

- How solid operations can make or break your practice

- Real-world example of a practice owner who improved profitability by focusing on operations

Work-Life Harmony

- Explanation of why we prefer "work-life harmony" over "work-life balance"

- The misleading nature of the balance metaphor

- How harmony allows for different aspects of life to take prominence at different times

Practical Tips for Operational Excellence

Compose Your Symphony

- Plan your day with intention

- Example: Dr. Sarah's weekly schedule optimization

Conduct with Precision

- Use time blocking techniques

Tune Your Instruments

- Look for inefficiencies in daily operations

- Examples: Automating appointment reminders, simplifying check-in processes

Empower Your Musicians

- Delegate tasks effectively

- Invest in team training

Focus on the Audience Experience

- Prioritize smooth, efficient patient journeys

Embrace Continuous Learning

- Utilize resources from the Thriving Practice Community:

- Monthly Masterclasses

- Peer Learning Circles

- Resource Library

- Expert Q&A Sessions

- Annual Retreat

- Access through the Mighty Networks platform

Create Work-Life Harmony

- Allow different aspects of life to take the lead at different times

- Aim for a fulfilling composition over time

Tracy’s Bio:

Tracy Cherpeski, MBA, MA, CPSC, is a Business Consultant and Executive Coach with over 20 years of experience. Tracy is the go-to expert for private practice owners and their teams, teaching them how to optimize their time and scale their practices without sacrifice. She helps her clients take back their time and energy to start living a fulfilled life as a high-impact provider and CEO. Tracy is host and executive producer of Thriving Practice podcast, and works with healthcare practice owners around the world.

Connect With Us:

Beyond Gray Walls: Transforming Your Healthcare Space to Attract and Retain Ideal Patients Featuring Carolyn Boldt, EP 136

In this episode, we explore the critical role of intentional design in healthcare practices, especially for complementary and alternative providers. Our guest, Carolyn, shares insights on creating spaces that enhance patient experience, support operational efficiency, and ultimately contribute to practice success.

Key Points:

The importance of aligning your physical space with your brand and target demographic
How design can make or break a practice's profitability
Blending healthcare, retail, and hospitality design principles for optimal results
The benefits of starting the design process before choosing a location
Creating spaces that attract and retain ideal patients

Notable Quotes:

"Your space is either gonna help make them money or is going to lose them money." - Carolyn

"It doesn't have to be expensive. It just needs to be intentional." - Carolyn

Takeaways:

Intentional design is crucial for practice success, impacting both patient experience and operational efficiency.
Consider your ideal patient when designing your space to create an environment that resonates with them.
Starting the design process early can save time, money, and prevent potential issues down the line.

Resources Mentioned:

5 Point Designer Checklist (click here: free resource for listeners)

Carolyn’s Bio:

Carolyn is personally passionate about holistic health and wellness, and an outspoken advocate that the environment of your space impacts your success.

With over 40 years of experience in the commercial interior industry, she holds a BS in Interior Architectural Design from University of Texas at Austin, is NCIDQ Certified, a Registered Designer, a LEED AP, and Professional Member of IIDA/International Interior Design Association.

In 2004, she and her husband, Scott, co-founded CrossFields as a design-build firm in Atlanta. In 2011 they changed their focus to expand the impact of holistic health by elevating the public’s image of alternative medicine through virtually creating outstanding healing environments nationwide.

Find Carolyn:

Connect With Us:

- Thriving Practice Community:

Entrepreneurial Thinking in Healthcare: Strategies for Success, EP 135

In this episode of Thriving Practice, Tracy explores how healthcare providers can adopt an entrepreneurial mindset to revolutionize their approach to healthcare and business, achieving success without burnout.

Episode Summary

Host Tracy Cherpeski discusses the challenges faced by healthcare provider-owners in today's evolving landscape and introduces the concept of entrepreneurial thinking as a solution. She covers key entrepreneurial attributes and provides strategies for developing this mindset in the healthcare sector.

Key Points

Definition of entrepreneurship and its relevance to healthcare providers
Overcoming overthinking: Types and strategies
Key entrepreneurial attributes for healthcare providers:

- Disruption of Norms

- Resilience and Persistence

- Embracing Uncertainty and Risk

- Growth Mindset

- Self-Awareness and Focus

Strategies for developing an entrepreneurial mindset
Balancing innovation with patient care

Challenges for Listeners

Identify an area of practice improvement and brainstorm innovative solutions
Schedule daily "worry time" to address concerns and combat overthinking
Reach out to a fellow healthcare provider-owner or potential mentor for perspective

Resources Mentioned

- Book reference: "7 Habits of Highly Effective People" by Stephen Covey

- Concept: Carol Dweck's Growth Mindset

Expert Mentioned

- Barbara Corcoran (Shark Tank judge and entrepreneur)

Quotable Moments

"As a healthcare provider, you're already doing incredible work. You've dedicated your life to helping others, and you've built a practice that makes a real difference."

"If you have an idea that you think is great, sit and write it down. You gotta grab it the minute you have it. Pin it down to your desk with a nail, and then figure it out." - Barbara Corcoran

Connect With Us

Subscribe to our newsletter for more tips and insights on healthcare entrepreneurship.

Navigating Medicare Choices: A Guide for Healthcare Providers and Small Business Owners Featuring Marvin Musick EP 134

In this informative episode of Thriving Practice, host Tracy Cherpeski interviews Marvin Musick, a Medicare education expert, to demystify the complexities of Medicare for practice owners and patients alike. Marvin shares valuable insights on making informed decisions about Medicare options, the importance of supplemental plans, and how these choices impact both healthcare providers and patients.

Key Points:

Understanding Medicare options: Original Medicare with supplemental plans vs. Medicare Advantage plans
The importance of educating yourself about Medicare before making decisions
How Medicare choices affect healthcare providers and their practices
Considerations for small business owners regarding employee health coverage
The benefits of Medicare supplemental plans for both patients and providers
The impact of high-income earners on Medicare premiums
The portability and nationwide coverage of Medicare supplemental plans
The importance of timing when enrolling in Medicare
Resources for Medicare education, including Marvin's Medicare School

Notable Quotes:

"Don't make any decisions until you really understand what you're doing because your choice is gonna have consequences." - Marvin Musick

"We're not trying to sell something. Although we write plans, that's how we make our living. But the platform is all about understanding." - Marvin Musick on Medicare School

Resources Mentioned:

- Medicare School YouTube channel: medicareschool.com

- Medicare Mondays on Facebook Live

- Thriving Practice Community: thrivingpracticecommunity.com

Marvin’s Bio:

MARVIN MUSICK and his son, Joshua, co-founded MedicareSchool.com

in 2009. Their mission: to offer unbiased and education-centric services

to those approaching Medicare enrollment. As a nationally sought-after

speaker and expert in Medicare, Marvin has empowered over 100,000

individuals by providing clear guidance and facilitating enrollment in the

most suitable Medicare plans.

Witnessing numerous people grappling with conflicting advice and

overwhelmed by information overload on Medicare, Marvin is committed

to an education-first approach. He strives to demystify the complexities,

ensuring clients comprehend their options without any pressure to purchase.

Through MedicareSchool.com, Marvin and his team of licensed Medicare

guides aim to liberate individuals from the confusion surrounding Medicare,

empowering them with knowledge and guidance for a worry-free retirement

through optimal Medicare plans.

Find Marvin:

Twitter @marvin_musick

Connect With Us:

The Hidden Costs of Parenthood: Breastfeeding, Childcare, and Healthcare in America EP 133

In this eye-opening episode, we dive deep into the challenges facing American families today, going beyond breastfeeding to explore the critical need for comprehensive family support policies in the United States. We examine the benefits of breastfeeding, but also address the systemic barriers that prevent many parents from making this choice.

Key Topics Covered:

The benefits and challenges of breastfeeding
The stark reality of paid parental leave in the US compared to other countries
The rising costs of childcare and its impact on families
The staggering healthcare expenses for American families
How companies like IKEA are stepping up to support their employees
The urgent need for policy changes to support families

Key Statistics:

- Only 55.8% of infants are still breastfed at 6 months

- The US is the only wealthy nation without nationwide paid parental leave

- Average annual cost of childcare: $13,000 per family

- Average health insurance cost for a family of four: $23,968 per year

- Healthcare premiums have increased by 22% over the past five years

Featured Example:

We highlight IKEA's recent efforts to support their workforce, including wage increases, improved parental leave benefits, flexible work arrangements, and innovative retention strategies.

Call to Action:

We encourage listeners to advocate for family-friendly policies, support businesses that prioritize employee well-being, and stay informed about proposed legislation that could impact families.

Resources Mentioned:

- American Academy of Pediatrics breastfeeding recommendations

- UNICEF report on child-care policies in wealthy nations

- Center for American Progress research on childcare costs

- Kaiser Family Foundation data on healthcare costs

Join us as we explore how investing in families through paid leave, affordable childcare, and healthcare reform can transform America and create a more supportive environment for all families.

Tracy’s Bio:

Tracy Cherpeski is a Business Consultant and Executive Coach. She supports her clients in taking back their time ad scaling this practices without sacrificing their well-being. Tracy’s consulting and coaching programs help her clients master strategic planning, leadership and mindset. She believes in people’s unlimited potential and loves celebrating the success of her clients and their teams.

Tracy founded Tracy Cherpeski International in 2011 and Thriving Practice Community in 2024, and serves clients all over the world. She is the host and Executive Producer of the Thriving Practice podcast.

Connect With Us:

The Art of Delegation: Mastering Team Roles for Practice Success Featuring Casey Gromer EP 132

Welcome to our latest episode where we dive deep into the complexities and triumphs of effective team management within a healthcare practice. Whether you’re a seasoned practitioner or new to the business side of healthcare, today’s discussion will illuminate the path to enhanced performance through strategic delegation.

Here are the key takeaways from our conversation:

The Dilemma of Practice Owners: We open up about the common challenges faced by healthcare practitioners in managing their practices, especially for those without formal business training. Balancing clinical work with the demands of running a business can be overwhelming.
The Delegation Crossroad: Learn about the pivotal moment when practitioners must choose between personal management of all tasks and the necessity of delegation. We discuss how to recognize this turning point and why it’s crucial for the growth of the practice.
Seeking Professional Help: The discussion highlights the importance of seeking professional help and the advantages it brings to practice management. We share insights on how to find the right support and the impact it has on business operations.
From Outsourcing to Recruiting: Follow the evolution of delegation from initial outsourcing to the strategic recruitment for key positions within the company. We talk about identifying which roles need to be filled in-house to ensure the best possible outcomes.
Identifying Core Business Needs: Discover how to pinpoint what’s essential for keeping your practice open and thriving. We discuss the process of identifying core needs and aligning your team’s skills with those needs.
Encouraging Community Feedback: Finally, we emphasize the value of community involvement and feedback in improving healthcare practice management. Learn how to create channels for feedback and why this can be a game-changer for your practice.

Whether you’re grappling with the challenges of managing your practice or looking to refine your approach to delegation, this episode offers valuable insights and actionable advice. Join us as we explore the keys to assembling a stellar team and setting your practice up for enduring success.

Casey’s Bio:

Casey Gromer is a 20-year business and marketing expert. As an MBA, she is widely regarded as a go-to source for visionary women entrepreneurs who dream of building businesses to run without them. Casey is host of Female Founders Breaking Boundaries podcast where she encourages women to ditch traditional, male-dominated business advice in favor of more realistic, workable ways of running their business

while still achieving success.

As founder of C-Suite Boutique, Casey and her team currently serve women entrepreneurs as Fractional Integrators. Under their leadership, clients have scaled their businesses while working less and spending more time doing things they love. The industries supported include services, health / wellness, retail, e-commerce, and manufacturing.

Find Casey:

Website

Connect With Us:

The Private Equity Plague: How Wall Street is Infecting Healthcare EP 131

Episode Summary:

In this eye-opening episode, host Tracy Cherpeski explores the growing influence of private equity firms in healthcare and its potential consequences for patient care, medical practices, and the overall healthcare system.

Key Points:

Overview of private equity's increasing role in healthcare
Case studies: Anesthesiology practices in Colorado and nursing homes
Impact on patient care, prices, and physician burnout
Regulatory responses and policy changes
Strategies for independent practices to thrive

Highlights:

- Private equity firms have invested over $1 trillion in healthcare in the past decade

- Study shows 20,000 more deaths in PE-owned nursing homes over 12 years

- Example of USAP in Colorado raising prices and affecting physician retention

- Regulatory efforts including increased transparency and antitrust scrutiny

- Tips for maintaining independent practices and prioritizing patient care

Call to Action:

Independent practice owners feeling pressure from market consolidation are invited to schedule a strategy call with Tracy at PracticeSuccess.co to explore alternatives to selling their practices.

Resources Mentioned:

- Thriving Practice Community: ThrivingPracticeCommunity.com

Quote:

"In healthcare, independence isn't just about ownership. It's about the freedom to always put patients first." - Tracy Cherpeski

Tracy’s Bio:

Tracy Cherpeski, MBA, MA, CPSC, is a Business Consultant and Executive Coach. She helps her clients take back their time and scale their practices without sacrificing their wellbeing.

Tracy’s consulting and coaching programs help her clients with strategic planning, leadership and mindset mastery. She believes in the unlimited potential of people, and loves to celebrate the success of her clients and their teams.

Tracy founded Tracy Cherpeski International in 2010, and Thriving Practice Community in 2024, and serves clients all over the world.

Tracy's biggest WHY - her two beautiful children, who inspire her to reach higher and further every day. She lives with her family in Chapel Hill, NC, and serves clients around the world.

Connect With Us: