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Episode 106: Spend to Succeed: Mastering Big Investments in Your Medical Practice
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Το περιεχόμενο παρέχεται από το Jill Arena. Όλο το περιεχόμενο podcast, συμπεριλαμβανομένων των επεισοδίων, των γραφικών και των περιγραφών podcast, μεταφορτώνεται και παρέχεται απευθείας από τον Jill Arena ή τον συνεργάτη της πλατφόρμας podcast. Εάν πιστεύετε ότι κάποιος χρησιμοποιεί το έργο σας που προστατεύεται από πνευματικά δικαιώματα χωρίς την άδειά σας, μπορείτε να ακολουθήσετε τη διαδικασία που περιγράφεται εδώ https://el.player.fm/legal.
Today’s topic is one I know will resonate with many of you: the paradox of needing to spend money to make money. It’s a concept that’s often discussed in the business world, but it can feel especially challenging in the context of a medical practice. Why? Because for most physicians, business training wasn’t a part of the curriculum in medical school. And yet, you’re expected to make significant financial decisions that could affect not only the practice’s bottom line but also patient care and team morale.
So, how do you navigate this? How do you decide when to spend, how much to spend, and whether an investment is truly worth it? Today, we’ll break that down. We’ll explore some critical financial tools, such as break-even analysis and return on investment calculations, discuss the costs of capital, and walk through a real-world case study of an OB/GYN group making a big purchase decision. By the end of this episode, I hope you’ll feel more confident about approaching these decisions in your own practice.
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Original Musical Score by: Craig Addy at https://www.underthepiano.ca/ Visit Craig’s website to book your Once in a Lifetime music experience
Podcast coaching and development by: Jennifer Furlong, CEO, Communication Twenty-Four Seven https://www.communicationtwentyfourseven.com/
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