As someone who has worked with physicians for over 20 years and grew up with a father in private practice, Jamie Spann founded Business Savvy Physician to guide healthcare professionals through the complexities of starting and growing their practices. Her firm specializes in helping doctors and med spa owners with challenges like securing funding, boosting revenue, managing staff, and establishing an online presence. Jamie and her team are dedicated to empowering physicians with the tools they need to run successful businesses, so they can focus on what matters most: patient care.
1. What are the first steps when starting a private practice?
When starting a private practice, first clarify your purpose to stay focused on your goals. Hire a medical practice consultant to guide setup and management. Save money for down payments and retainers for initial costs like office space and equipment. Lastly, create a detailed business plan outlining your vision, target market, and financial projections.
2. How can a physician get funding to start their private practice?
Physicians seeking to fund a private practice should partner with a bank that specializes in healthcare financing, particularly one experienced with SBA loans. These banks offer tailored solutions, competitive loan terms, and expert advice on managing practice finances, helping physicians secure funding for equipment, real estate, and working capital while supporting long-term growth.
3. What tips do you give your medical spa clients on ways to increase their bookings?
To maximize revenue and increase bookings for my med spa clients, I suggest they focus on: Promptly responding to phone calls to create a positive impression; conduct consultations to build rapport and convert inquiries into appointments; address patient concerns to build trust; and provide patient with effective treatment plans that showcase the spa’s capabilities and get the patient’s desired results, and rebook patients before they leave.
4. How can a business owner increase revenue in a medical practice?
They should start by renegotiating insurance contracts before renewal to optimize reimbursement rates. Regularly review accounts receivable to ensure claims are submitted promptly and reduce denials. Strengthen your online presence on platforms like Google and Healthgrades, keeping details accurate and encouraging positive reviews to enhance patient trust and attract new clients.
5. How do you recruit and retain high-quality staff?
To build a thriving practice, attracting and retaining top talent is crucial for long-term success. We specialize in helping organizations recruit and retain high-quality staff by fostering a positive, inclusive culture that embraces diverse perspectives. Invest in employee growth through ongoing development, and implement a robust 60-day onboarding plan to ensure new hires are integrated, motivated, and set up for success.
To build a successful private practice, personalized support can make all the difference. Business Savvy Physician is here to help you navigate the challenges of growth and management with practical, expert advice. If you’re ready to take your practice to the next level with tailored strategies and resources, reach out to Business Savvy Physician for the guidance you need.
Contact Information:
Website: https://businesssavvyphysician.com/
Instagram: @businesssavvyphysician
405-642-0111
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As the healthcare landscape continues to evolve, many physicians and wellness practitioners are seeking innovative strategies to grow their practices while maintaining quality patient care. Two industry experts, Dr. Brian Hughes, owner of Curis Edmond, and Jamie Spann, founder of Business Savvy Physician, share their insights on overcoming the unique challenges of expanding a medical or wellness practice in today’s market.
“The healthcare landscape has changed significantly in recent years,” says Dr. Brian Hughes. “Telehealth, AI, EHR, and wearable medical devices like rings and CGMs [continuous glucose monitors] have placed a wealth of information at both practitioners’ and patients’ fingertips. This has created incredible opportunities for growth, but only for those who can bridge the gap between information and practical application.”
Hughes emphasizes that the future of healthcare lies in wellness care and preventative medicine. “The more knowledge people have, the clearer they are about taking control of their own health. Medical practices that embrace this shift toward wellness care, while guiding patients effectively through the noise of information, will be the ones to thrive.”
Jamie Spann echoes this sentiment, noting that more physicians are leaving hospital employment and returning to private practice. “Physicians are realizing they don’t want to be constrained by the limitations of hospital systems. At Business Savvy Physician, we’ve helped many doctors establish their own practices where they can increase their revenue, offer more personalized care, and regain control over their schedules.”
When it comes to expanding a practice, both Hughes and Spann agree that growth can often come with overwhelming challenges. Hughes explains, “One of the biggest issues I see is advancing too quickly—adding new services or technologies before mastering the foundations. It’s easy to get caught up in the latest trends, but a practice grows best when built on solid, efficient systems.”
Spann identifies rapid growth as a major concern for her clients as well. “As practices grow, the systems that worked for a smaller team become inefficient. You have to pivot and scale your processes—whether it’s in HR, patient management, or workflow optimization—or you risk overwhelming yourself and your staff,” she says.
When it comes to expanding a practice, both Hughes and Spann agree that growth can often come with overwhelming challenges. Hughes explains, “One of the biggest issues I see is advancing too quickly—adding new services or technologies before mastering the foundations. It’s easy to get caught up in the latest trends, but a practice grows best when built on solid, efficient systems.”
Spann identifies rapid growth as a major concern for her clients as well. “As practices grow, the systems that worked for a smaller team become inefficient. You have to pivot and scale your processes—whether it’s in HR, patient management, or workflow optimization—or you risk overwhelming yourself and your staff,” she says.
Technology has become a key player in practice growth, both in terms of business operations and clinical advancements. Spann highlights the use of AI as a game-changer for streamlining patient communication and managing administrative tasks.
“We use AI to automate responses and assist with patient inquiries, freeing up physicians’ time to focus on patient care. It’s amazing how much more efficient a practice can be with the right technology in place.”
Hughes adds, “Technology in medical and wellness businesses is revolutionizing how we track patient progress and communicate in real time. Whether it’s through EHR systems, lab results, or imaging, the ability to measure outcomes accurately and efficiently has changed the game for practitioners.”
For physicians considering hiring a business coach, Spann stresses the importance of finding someone who understands the intricacies of healthcare. “Healthcare is a specialized industry, and a generic business approach won’t cut it. Look for a coach who understands both the clinical and business sides of running a practice. We focus on helping physicians implement systems that allow them to prioritize patient care without sacrificing profitability.”
Hughes’ advice is to stay clear on your mission. “The clarity of your outcome will drive your actions. Early on, I was more reactive—just trying to keep up with everything. But clarity allows you to respond to the right opportunities and focus on what will truly grow your practice.”
Both experts agree that maintaining a strong team and a positive workplace culture is essential for sustainable growth. “Leadership is key,” says Hughes. “Your job as a leader is to empower others to achieve their role in the mission. When you have the right people in the right roles and they’re aligned with your vision, the complexities of growth become just part of the process.”
Spann adds, “Clear communication is critical. As your practice grows, you need to keep your staff informed and make them feel valued. When your team is happy and engaged, they will work hard for you and contribute to the success of your practice.”
Looking to transform your medical practice with expert guidance? Dr. Brian Hughes at Curis Edmond and Jamie Spann from Business Savvy Physician offer the expertise to enhance patient care, streamline operations and guide your practice toward sustainable growth.
Jamie Spann
Phone: (405) 642-0111
https://businesssavvyphysician.com/
Brian Hughes
Phone: (405) 726-8500
https://www.drhughesoffice.com/
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