EP317: Five Emerging Business Models for Physician Entrepreneurs

This episode is sponsored by Lightstone Direct LLC. Lightstone DIRECT invites you to partner with a $12B AUM real estate institution as you grow your portfolio. Access the same single-asset multifamily and industrial deals Lightstone pursues with its own capital – Lightstone co-invests a minimum of 20% in each deal alongside individual investors like you. You’re an institution. Time to invest like one.

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This Episode is also sponsored by Ryze Health
Every minute counts in medicine—so why waste it on clunky admin work? With Ryze Health, practice management becomes effortless. Our all-in-one platform streamlines scheduling, patient communications, and insurance verification, giving you fewer no-shows, faster check-ins, and happier patients. Free yourself from paperwork and phone tag so you can focus on what truly matters: providing care. Visit RyzeHealth.com/BootstrapMD today and see how simple running your practice can be.

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What does the next generation of physician entrepreneurship look like?

In this episode, host Dr. Mike Woo-Ming, physician entrepreneur and founder of multiple medical ventures, explores five high-potential business models for doctors looking to innovate in medicine and build scalable, meaningful businesses.

Drawing from conversations with physicians, conferences, and his own entrepreneurial experience, Dr. Woo-Ming introduces a practical roadmap—starting with accessible models that require minimal capital and progressing toward ambitious, tech-driven opportunities. These five emerging business models reshapes physician entrepreneurship They include; - Micro-Niche Cash Practice – Telemedicine Specialty Brand – Knowledge Commerce Practice – Licensing & Partnership Model – AI Healthcare Company 

Through these progressive five-step journey, physicians gain a clear understanding of which model fits their current stage of career and risk tolerance—and how to start moving toward entrepreneurial independence today.

 

Three Actionable Takeaways:

•  Start Small, Think Big: Begin with a micro-niche cash practice or telemedicine brand before scaling to advanced ventures. Focus beats scale—define your patient, your problem, and your promise.

•  Build Leverage, Not Labor:  Shift from trading time for money to building scalable systems—digital products, licensed methods, and automated practices that create recurring revenue.

•  Choose Courage Over Comfort:  Entrepreneurship demands boldness. Whether launching a course or founding an AI startup, your medical expertise is your foundation—pair it with persistence and innovation.

 

About the Show:

Bootstrap MD is the ultimate podcast for physician entrepreneurs looking to escape traditional healthcare and control their financial futures. Hosted by Dr. Mike Woo-Ming, a successful physician, entrepreneur, and investor, the show delivers actionable insights on starting businesses, creating passive income, and navigating healthcare entrepreneurship. Featuring interviews with industry leaders, physicians, and experts in telemedicine and digital health, it’s your guide to building a profitable, fulfilling career. 

Tune in weekly at  http://bootstrapmd.com 

 

 About the Host:

Dr. Mike Woo-Ming has over 20 years of experience as a physician entrepreneur. He’s built and sold multiple seven-figure companies and now leads Executive Medical, a group of clinics specializing in age management and aesthetics. Through BootstrapMD, he mentors physicians in business, content creation, and autonomy.

Let’s Connect: www.https://www.bootstrapmd.com 

 Want to start a podcast? Check out the Doctor Podcast Network!