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Maximizing Practice Profits: Tips for Healthcare Practice Owners with Host, Eric Miller & Guest, Mike Nula
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In this episode of the Financial Beast podcast, host Eric Miller interviews Michael Nula, a successful healthcare practice owner and consultant, about the importance of profit in running a practice. They discuss the mindset shift required to prioritize profit and the various ways it can be utilized to support the growth and stability of a practice.
Nula emphasizes the need for practice owners to treat profit as an expense and plan for it accordingly, rather than hoping it will magically appear at the end of the month. He also shares insights on setting profit margin targets, controlling expenses, and leveraging technology to increase profitability.
Nula highlights the value of profit in determining the overall worth of a practice and the importance of planning for a successful exit strategy. Overall, this episode provides valuable advice and practical steps for healthcare practice owners to maximize their profits and build a thriving practice.
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