Healthcare Entrepreneur Academy Podcast

Want to learn how to leverage your healthcare knowledge to start or grow a business? The Healthcare Entrepreneur Academy podcast presents interviews with real-world healthcare entrepreneurs, innovators, and other leading business experts. On each interview episode, your host Jason A. Duprat will deconstruct each guest's playbook for success so that you can learn ideas, strategies, and insights that will help you on your entrepreneurial journey. You can follow Jason's personal entrepreneurial journey on his bite-sized "Tactical Tuesday" solo episodes!

#202: Tactical Tuesday: Open your Practice for Less than 20K 07/27/2021

#202: Tactical Tuesday: Open your Practice for Less than 20K OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner, and Host of the Healthcare Entrepreneur Academy podcast discusses how to open a healthcare practice with low startup and low overhead costs for under 20K. He recommends starting small in terms of space and staff. He also highlights certain services that don’t require expensive equipment to help further reduce costs. EPISODE HIGHLIGHTS: There are four key factors for starting lean when you open your healthcare practice. First, start small in terms of size. You don’t need a 7000-10,000 square foot space to launch your business. Also, sign a short-term lease for one year. Or consider renting an exam room from another clinician’s office. Most patients don’t care about the physical size of the practice. They care about the quality of care they’ll get and the results you can provide. Second, open your practice with you as the sole service provider. Be prepared to wear many hats; be ready to chart and manage administrative tasks. Labor will be one of the highest expenses incurred once you begin hiring clinicians to see and treat patients. Third, consider alternatives to a physical space such as a mobile, virtual, or home-based practice that allows you to make house calls or provide services at long-term facilities. Fourth, consider having an aesthetic focus (botox, microneedling, etc.) to help reduce equipment costs. Lower overhead means greater profits. There’s a misperception that healthcare practices are expensive to launch. If you keep overhead low and work lean, you can open for under $20,000. Reinvest profits to see more growth. Build your business and build tax deductions. 3 KEY POINTS: Start with a small practice or a small clinic. Start with one or two clinicians. If you want to keep expenses low, be the sole clinician (initially) and then hire a part-time receptionist. Aesthetics services including botox, microneedling, platelet-rich plasma (PRP) therapy, IV therapy, ketamine therapy, and hormone replacement therapy are some services that don’t require a lot of overhead in terms of equipment and supplies. TWEETABLE QUOTES: “We all want overhead to be low because overhead eats into profit.” - Jason Duprat “There’s a big misconception that all medical practices cost a fortune to get started.” - Jason Duprat RESOURCES: Rate and review the podcast: Subscribe and follow the podcast: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #podcast #lowstartupcosts #launchyourpractice #reinvestprofits /episode/index/show/healthcareentrepreneuracademy/id/19905704

#201: Shelley Christ: Finding Hope & Healing Through Ketamine Therapy 07/22/2021

#201: Shelley Christ: Finding Hope & Healing Through Ketamine Therapy OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner, and Host of the Healthcare Entrepreneur Academy podcast talks with Shelley Christ, DNP, PMHNP, and Co-Owner of Hope for Healing. Shelley discusses her journey as a business owner and the steps she took to open her practice. She also offers advice for people who want to start their own practice. EPISODE HIGHLIGHTS: Shelley is a board-certified psychiatric mental health nurse practitioner with a Doctor of Nursing Practice degree and 30 years of experience as an RN. Hope for Healing opened in January 2021 in Avon, Connecticut. Once she completed the Ketamine Academy course, it took Shelley three months to open the practice. The course taught Shelley about scope of practice, state laws, malpractice insurance, as well as staffing and supply requirements. Shelley had owned a home health business so she was already familiar with policies and procedures, hiring people, and managing employees. Her goal for Hope for Healing is to create a spa-like atmosphere with a warm, welcoming environment and to ensure a high level of customer service. This includes someone always being available to answer the phone so patients can schedule appointments with no waiting. Comfort touches include massage and anti-gravity chairs, drinks, snacks, and blankets. Shelley talks about different models for cognitive behavioral therapy (CBT). She shares her own experiences with treatment-resistant depression which eventually led her to try ketamine therapy. Her advice to people who want to start their own practice: If you can’t go without the income from your work, go slow. Invest in a good marketing agency that understands what you’re trying to get across. When it comes to staffing, Shelley knew a lot of people already. She hired new staff through word-of-mouth and placed ads on LinkedIn and Indeed. Services are private pay. She does provide patients with a superbill that they can submit to their insurance companies. Shelley is passionate about her vision and the people she cares for. Her business focus is to attract, love, and nurture people. 3 KEY POINTS: Shelley’s previous experiences as a business owner, coupled with what she has learned from the Ketamine Academy course, have helped her launch and run her own practice. Hope for Healing follows a holistic approach, combining low-dose ketamine infusions, medication management, and a short-term CBT program. After her own positive experience with ketamine, Shelley feels her purpose is to help as many people as she can—people who suffer from depression, anxiety, and post-traumatic stress. TWEETABLE QUOTES: “When we make changes in the way we’re thinking... we feel better and we do better.” - Shelley Christ “With ketamine - within two weeks and by my sixth treatment - I was back to myself.” - Shelley Christ “If you want to make it work, you’re going to make it work.” - Shelley Christ RESOURCES: Hope for Healing: Ketamine Academy: Scout Collective: Osmind: Rate & Review: Subscribe & Follow: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #podcast #ketamine #ketamineclinic #ketaminetherapy #mentalhealth #depression #cognitivebehavioraltherapy #practiceowner #startup /episode/index/show/healthcareentrepreneuracademy/id/19827479

#200: Tactical Tuesday: 3 Steps to Level Up your Health, Wealth & Career 07/13/2021

#200: Tactical Tuesday: 3 Steps to Level Up your Health, Wealth & Career OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner, and Host of the Healthcare Entrepreneur Academy podcast talks about the three things you should do to take any component of your life to the next level. He highlights the importance of aiming higher and learning new skills. He also explains how consistent action can lead to forward progress and momentum. EPISODE HIGHLIGHTS: To begin, you must focus forward. What’s the goal you want to achieve? What higher level do you want to accomplish? Expand your vision, goals, and expectations. Create a new vision board. The second step is to fill the knowledge gap that’s preventing you from getting to the next level. Glean new insight and acquire new skills. Take action to learn. Some examples include online programs and training, online books and courses, podcasts, webinars, and mentoring. Don’t underestimate the skills that will be necessary for you to perform at the next level. Surround yourself with people who have accomplished what you want to accomplish. The third step is to create new habits that align with your goals. Identify what you want to achieve and honestly assess your situation. Determine what’s holding you back and block toxic people and experiences. Make sure your mind is primed for success. Constantly move yourself and your business forward so you can live a fulfilled and successful life. 3 KEY POINTS: Set higher goals and expectations for yourself. Fill in the gaps in your knowledge that are keeping you from leveling up. Form new habits and take daily actions that align with your goals. TWEETABLE QUOTES: “What got you where you are today is not going to take you to the next level.” - Jason Duprat “What is it that you want to achieve?” - Jason Duprat RESOURCES: Robert Kiyosaki: Subscribe to the HEA Podcast: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #podcast #levelup #goalsetting #forwardmomentum #visionboard #goodhabits #primedforsuccess #positivemindset /episode/index/show/healthcareentrepreneuracademy/id/19775009

#199: Harry Nelson: Understanding Risk & Compliance Issues for Your Practice 07/08/2021

#199: Harry Nelson: Understanding Risk & Compliance Issues for Your Practice OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner, and Host of the Healthcare Entrepreneur Academy podcast talks with Harry Nelson, founding partner of Nelson Hardiman, LLP and author of the bestselling book, “The United States of Opioids.” As a leading healthcare regulatory lawyer in America, Harry talks about his professional journey and shares advice for entrepreneurial practitioners interested in opening their own practice. EPISODE HIGHLIGHTS: Harry was born in Brazil, grew up in Michigan, started his career in Chicago, and now resides in LA with his family. He stumbled into healthcare because he was fascinated by the regulatory state. Emerging technology and therapeutics led him to ketamine. Out of necessity, he started working with a solo practitioner who represented doctors in trouble, but he ended up identifying a compliance gap in the healthcare industry for small providers. Harry offers advice on how to find a good healthcare lawyer for professionals who want to open their own practice. He introduces the PC-MSO structure and explains how it works. Put value into the clinical practice brand you're creating. Adhere to the appropriate health and management models. Understand the risk issues and operationalize good legal advice. There’s a body of research supporting ketamine even though there’s no federal approval. Save articles and literature to back up your claims. Informed consent means risks, benefits and outcomes. Have a form, have a conversation and chart it. Laws state you cannot be paid for a referral so tread carefully when it comes to lead generation. Harry provides insight regarding the supervisory aspect for scope of practice and how to mitigate risks. If you find yourself in trouble, find a lawyer who knows about medical boards. Harry’s goal is to create communities to educate and protect people. 3 KEY POINTS: Harry learned early on in his career the healthcare space is highly regulated so he decided to add value by helping early-stage venturers and smaller providers navigate compliance issues. Before you set up a practice, have a conversation with an attorney to find creative solutions while making sure you’re meeting legal requirements. Back up scientific claims with research. Get informed consent from patients and document protocols. TWEETABLE QUOTES: “You need to work with somebody who knows what’s going to get you in trouble and what’s not.” - Harry Nelson “Your mitigating actions can make a huge difference.” - Harry Nelson RESOURCES: Harry Nelson’s website - https://harrynelson.com/ Nelson Hardiman, LLP - https://www.nelsonhardiman.com/ Wolters Kluwer Health UpToDate - - #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #podcast #healthcarelawyer #healthcareregulations #healthcarecompliance #scopeofpractice #ketamine #ketamineclinic #ketaminetherapy /episode/index/show/healthcareentrepreneuracademy/id/19680632

#198: Tactical Tuesday: A Golden Opportunity to Build Relationships & Convert Customers 06/29/2021

#198: Tactical Tuesday: A Golden Opportunity to Build Relationships & Convert Customers OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner, and Host of the Healthcare Entrepreneur Academy podcast talks about the best practices for responding to customer inquiries and questions. Jason offers communication tips for business owners on how to build rapport with customers. EPISODE HIGHLIGHTS: According to an independent study, the average response time for most businesses is more than 12 hours. Almost half of today’s customers expect a response to their inquiries in under 4 hours. 12% of customers expect a response in 15 minutes or less. Time to resolution, the window of time required to solve a problem or answer a question, is a metric business owners can monitor. Set up automated replies to acknowledge the person who emailed or texted you - your inquiry was received, we’re working on it and we’ll get back to you. Automated chatbots can be programmed to recognize specific questions or keywords. Chatbots are an excellent customer service tool for answering common questions. During business hours, hire virtual assistants to respond to inquiries to ensure a prompt response time and to provide more personalized customer support. It’s all about creating a great customer experience and building relationships. 3 KEY POINTS: First response times need to be quick. It’s okay to acknowledge the inquiry instead of providing a full-fledged answer or a resolution. Setting up automation may take some time and work, but it’s great for responding to people who post inquiries after business hours or during weekends. Competitors will struggle to keep up with you if you manage to keep consistent response times of under 10 to 15 minutes. TWEETABLE QUOTES: “When people reach out, they want a response fairly quickly.” - Jason Duprat “This is your golden opportunity to win over [potential customers].” - Jason Duprat RESOURCES: Manichat: Subscribe on Apple podcasts: HEA Facebook Group for Digital Businesses: HEA Facebook Group for Bricks & Mortar Businesses: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #podcast #customerservice #customerresponse #customerconversion #automation #chatbot #virtualassistant /episode/index/show/healthcareentrepreneuracademy/id/19600094

#197: Christi Myers: Restoring Well-Being with Ketamine Therapy & Psychotherapy 06/24/2021

#197: Christi Myers: Restoring Well-Being with Ketamine Therapy & Psychotherapy OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner, and Host of the Healthcare Entrepreneur Academy podcast talks with Christi Myers, MS, EMT-P, CEO, Director, and Founder of Flow Integrative. Christi highlights the steps she took to open her practice and also talks about why it’s important to focus on the patient experience. EPISODE HIGHLIGHTS: Christi has been a paramedic for the last 20 years and she’s been teaching for ten years. The mental health of her students and people in the healthcare industry motivated her to open her ketamine practice in Redlands, CA in November 2020. She recently moved her clinic to Encinitas in April 2021. It was a five-month process for Christi to open her practice. She asked a physician to join her and everything unfolded during COVID. Her advice? Step in 100%! Christi credits the Ketamine Academy course for helping her understand the legal aspects of the business, as well as scope of practice. She explains the difference between assisted psychotherapy and getting a low-dose ketamine infusion. The dosing structure depends on how people cope outside of therapy. People are struggling with depression and ketamine isn’t covered by insurance. So Christi created a nonprofit to help those who can’t afford treatments. She credits Osmind and Caretaker for being great partners and helping her with the launch and operations of the practice. Christi was able to source partners because of her working relationships as a paramedic. Christi provides an overview of her services and what it’s like to partner with a physician. Her patient experience includes providing space for patients to release emotion - for the clinic and staff to offer an open space and heart. They also provide gravity blankets to help patients feel grounded. The goal is to restore well-being using individualized, scientific-based therapeutic methods. There is no blanket approach for treating patients - it’s an intimate experience for each person. 3 KEY POINTS: There’s a stigma about ketamine due to recreational abuse, but it can be beneficial for treating depression and anxiety—even PTSD—if given in small doses. Christi hired an attorney to help her with the legal aspects of opening her practice. She then created two corporations, partnered with a physician, and utilized her knowledge in medicine and wellness. Christi makes sure the psychotherapy sessions are not too clinical to ensure her clients feel safe and comfortable enough to help reach a breakthrough. TWEETABLE QUOTES: “It comes down to courage of trying something essentially taboo.” - Christi Myers “[Starting your own practice] isn’t easy, but it isn’t challenging as long as you have pieces to rely on.” - Christi Myers RESOURCES: Flow Integrative: Osmind: Caretaker: Psychedelic Spotlight Interview: Mental Health Support for First Responders Blog Post: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #podcast #ketamine #ketamineclinic #ketaminetherapy #mentalhealth #depression #PTSD #practiceowner #startup /episode/index/show/healthcareentrepreneuracademy/id/19558052

#196: Tactical Tuesday: Cultivate Excitement Over Passion to Achieve Success 06/15/2021

#196: Tactical Tuesday: Cultivate Excitement Over Passion to Achieve Success OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner, and host of the Healthcare Entrepreneur Academy podcast presents an alternative school of thought regarding passion and success, drawing from his own experiences as an entrepreneur and business owner. He suggests focusing on outcomes and cultivating excitement rather than following your passion. EPISODE HIGHLIGHTS: You don’t have to love what you do to be happy in life. Sayings like “follow your passion” or “turn your passion into profit” shouldn’t be taken too literally. People tend to think if they’re not doing what they love, they’re on the wrong track or they’re a failure. It’s impossible to only do what you love—all day, every day—and still be successful. Jason asks his listeners to consider a new paradigm and a new thought process: Follow and cultivate excitement over passion. Your passion is not always your calling. Jason shares an anecdote about an Olympic gold medalist swimmer who was interviewed by Angela Duckworth for her book, “Grit: The Power of Passion and Perseverance.” When the athlete was asked if he loved what he does, he responded: Do I enjoy or like the daily training and long hours? No. However, I do like being a champion and being good at what I do. Do the work to make your business thrive. And ask yourself - what’s your gold medal in business? Money impacts your outlook on getting necessary tasks done. It tips the scale and creates a greater tolerance. If you only do the easy and fun tasks, you’re not pushing yourself or building something greater and bigger. 3 KEY POINTS: When you focus on what’s exciting and challenging, the menial tasks become easier to manage. As a business owner and entrepreneur, stick to it and focus on the results. There’s a difference between loving what you do and loving what you get from doing certain things. TWEETABLE QUOTES: “You don’t have to love what you do to be happy and fulfilled in life.” - Jason Duprat “Failure is not fun but we can see it as a learning opportunity and move on.” - Jason Duprat RESOURCES: by Angela Duckworth HEA Facebook Group for Digital Businesses: HEA Facebook Group for Bricks & Mortar Businesses: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #podcast #trackingforsuccess #beachampion #dothework #focusonoutcomes /episode/index/show/healthcareentrepreneuracademy/id/19440005

#195: Jerry Vinson: Know your Financial Freedom Number 06/10/2021

#195: Jerry Vinson: Know your Financial Freedom Number OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner, and host of the Healthcare Entrepreneur Academy podcast talks with Jerry Vinson, CRNA, and creator of the Live Wealthy Formula. Jerry looks back on the events that led him to start his current business and shares his thoughts on several wealth creation strategies. EPISODE HIGHLIGHTS: Jerry got his hard work ethic and entrepreneurial mindset from his dad. He double-majored in chemistry and psychology. He became a nurse practitioner and then a CRNA, but that left him with a loan debt of $205,000. After getting burned out, Jerry educated himself on personal finance, money management, and wealth creation strategies. Know your financial freedom number and then work towards it to create the life you desire. Jason and Jerry share their thoughts on Dave Ramsey and Robert Kiyosaki. Jerry talks about whole life and term life policies as a wealth creation strategy. He presents the advantages of alternative investing like cryptocurrency and discusses IRAs as well, including using an IRA to invest in crypto. Jerry doesn’t invest in stocks because he hasn’t been able to beat the market. Jason and Jerry highlight why business is a wealth-building and retirement vehicle. Jerry shares an overview of his Live Wealthy Formula program. It starts with having the right mindset. Steps 1 and 2 are about money management. Step 3 is about wealth creation strategies and step 4 is focused on taking action on what you’ve learned. Invest first and then live the life you want. We tend to reverse these concepts. Together, everyone achieves more. 3 KEY POINTS: Mindset and money management are the basic foundations of improving any area in your life. Use what you’ve learned and take action. Investing in a business gives you an asset to generate revenue. You can sell the business or pass it on to your children. You can also leverage the business to invest in other things. It doesn’t matter how much money you make. What does matter is what you do with your money and how you live your life while making money. TWEETABLE QUOTES: “There are so many different things you can do with your money.” - Jerry Vinson “Figure out how to make the most of your current income.” - Jerry Vinson RESOURCES: Jerry Vinson’s website: Live Wealthy Community on Facebook: Robert Kiyosaki’s website: Dave Ramsey’s website: BlockFi website: Coinbase website: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #podcast #financialfreedom #wealthstrategy #wealthcreation #cryptocurrency /episode/index/show/healthcareentrepreneuracademy/id/19305962

#194: Tactical Tuesday: Developing Know, Like & Trust to Increase Customer Engagement 06/01/2021

#194: Tactical Tuesday: Developing Know, Like & Trust to Increase Customer Engagement OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner, and host of the Healthcare Entrepreneur Academy podcast offers tips on how to make prospects and customers aware of your business (know) to build like and trust so they’ll do business with you. EPISODE HIGHLIGHTS: Getting to know people is relatively easy. Making them like and trust you is a little more challenging and takes time to develop and study. People who do well in business or in life tend to be likable. You can foster likability if you’re easy to hang out with, you participate in conversations with others and you’re inquisitive. If you cause friction, you won’t go far, no matter how big your business is. Focus on building rapport and friendships. Competence, honesty, and benevolence are three components of trust, according to a behavioral scientist, Jason has listened to online. When going into a new relationship or meeting someone new, most people try to overplay how competent they are. First, show that you are benevolent and honest. If you make a mistake, own up to it. Other people—especially superiors at work—will be more likely to overlook the mistake if you openly acknowledge your mistake. The IKEA effect is defined as people who tend to trust and care more for what they build on their own or invest time and money in. This same principle can apply to relationships. Accept favors and support from other people to help develop trust. 3 KEY POINTS: Be likable. People enjoy doing business with people they like. Trust is determined by competence, honesty, and benevolence. Work for the best interests of the people around you, and things will fall into place. TWEETABLE QUOTES: “Develop know, like, and trust.” - Jason Duprat “Trust is a by-product of a joint effort.” - Jason Duprat RESOURCES: HEA Facebook Group for Digital Businesses: HEA Facebook Group for Bricks & Mortar Businesses: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #podcast #KnowLikeTrust #businessstrategy #businessdevelopment /episode/index/show/healthcareentrepreneuracademy/id/19295276

#193: Chase DiMarco: Bridging a Resource Gap in Clinical Education 05/27/2021

#193: Chase DiMarco: Bridging a Resource Gap in Clinical Education OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and host of the Healthcare Entrepreneur Academy podcast talks with Chase DiMarco, founder and lead educator at FreeMedEd, CEO of FindARotation, and co-author of “Read This Before Medical School.” Chase shares his experiences creating a medical resource website to help students with their education. He also discusses how and why he got into podcasting and the goal of his web app, FindARotation. EPISODE HIGHLIGHTS: Chase double majored in psychology and medicine before going to a Caribbean medical school where he started FreeMedEd, an online resource provider. Initially, FreeMedEd housed YouTube videos, playlists, and quizzes for students to use to help round out their medical school education. Now, the site contains podcasts, books, and online courses. Jason and Chase discuss options for people who might be interested in going to a Caribbean medical school. Impostor syndrome can occur when you’re creating your own online course. Double-check every bit of information you’re sharing. You don’t have to do everything yourself. You can outsource or hire freelancers via Fiverr or Upwork. Chase hosts two podcasts and is currently working on a third show. ‘Medical Mnemonist’ was launched to help students with their board exams. The show features medical mnemonist champions and trainers to help students increase their memory and formulate efficient study skills. ‘Rounds to Residency’ targets medical students who need to do medical rounds. The podcast helps them navigate rotations. Chase’s third podcast, which hasn’t been released yet, will showcase global perspectives on science, medicine, and healthcare with skilled researchers and scientists. Chase’s podcasts started as a labor of love and are now his primary tool for networking. FindARotation is a crowdsourced clinical rotations platform currently in its beta stage. The goal of the app is to be an untapped resource for clinical instructors and students searching to book clinical sites. When it comes to app development, do your due diligence. Apps require a great deal of research and development - for Chase, it was two years. You need to consider design, legalities and leave room for trial and error. Listening and reading can only get you so far. Go out, make mistakes, and then learn from them. 3 KEY POINTS: In general, medical schools are self-regulated. Utilize resources available on the internet and find the right mentor to supplement class lectures. Plan out your online course first or find a template. If you want to design the webpage yourself, there are several cost-effective website builders you can use. When working with an app developer, do your due diligence, get a separate graphic designer and keep your expectations low. TWEETABLE QUOTES: “The more you know, the more you think you don’t know.” - Chase DiMarco “Don’t interview. Audition.” - Chase DiMarco RESOURCES: FreeMedEd website: FindARotation website: by Chase DiMarco, Greg Rodden, and Theodore X. O’Connell Referral link to AppSumo Software: by James Clear by Perry Marshall by Greg McKeown #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #podcast #podcasting #onlinecourses #appdevelopment #medicalstudent #clinicaleducation /episode/index/show/healthcareentrepreneuracademy/id/19210457

#192: Tactical Tuesday: Set Revenue Goals that Grow with You & Your Business 05/25/2021

#192: Tactical Tuesday: Set Revenue Goals that Grow with You & Your Business OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and host of the Healthcare Entrepreneur Academy podcast talks about setting revenue goals and tracking them. He also discusses how business owners can best utilize revenue goals to increase net profits, as well as fix their profit and loss (P&L) statements. EPISODE HIGHLIGHTS: It’s important to set revenue goals that can grow with you - and your business. Start by reviewing your totals sales and expenses. Don’t focus solely on top-line revenue. You should also look at fixed and non-fixed expenses. Substantial increases in top-line revenue can fix P&Ls—but businesses cannot infinitely increase their top-line revenue. You’ll often hear business owners brag about their gross revenue numbers. What matters is net revenue. There’s no point in increasing gross sales if there’s no substantial increase in net profit. Eliminate expenses like underutilized or unused subscriptions. Set small, steady achievable goals. For example, if you want to increase your profit, consider a realistic number such as 4% each month. Focus on expenses and not just the top line. 3 KEY POINTS: Review your fixed and non-fixed expenses and make changes quarterly. Set micro revenue goals for each month and readjust them as necessary. Print your P&Ls on a monthly and quarterly basis, and track the numbers in a spreadsheet. TWEETABLE QUOTES: “Don’t just focus on the top line.” - Jason Duprat “By setting and tracking your goals, you can then make changes to keep hitting those goals.” - Jason Duprat RESOURCES: HEA Facebook Group for Digital Businesses: HEA Facebook Group for Bricks & Mortar Businesses: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #podcast #revenuegoals #increaserevenue #profitmargins #profitandloss #goalsetting /episode/index/show/healthcareentrepreneuracademy/id/19210367

#191: Sean Hopwood: Creating Cultural Awareness & A Mobile Gig Economy 05/20/2021

#191: Sean Hopwood: Creating Cultural Awareness & A Mobile Gig Economy OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and host of the Healthcare Entrepreneur Academy podcast talks with Sean Hopwood, founder and CEO of Day Translations. Sean shares how he combined his love for managing people and his passion for linguistics and turned it into a business. He also offers tips for people who are learning new languages and for aspiring entrepreneurs. EPISODE HIGHLIGHTS: Sean was greatly influenced by his entrepreneurial grandfather, Francis Day, whom he named the company after. Sean speaks 8 languages and he’s fluent in French and Spanish. Now, he’s learning Chinese. Some people pick up languages by listening but Sean believes in learning through structured courses to be fully immersed in the language and the culture. In addition to his Chinese course, he listens to Chinese music and is also taking a Chinese calligraphy class. After working for a law firm as an interpreter, Sean started his own translation company and an import-export company. When Day Translations took off, he learned about SEO and leveraged it to attract prospects and build his business. Because he over-delivered and never turned down requests for rare languages, Sean grew his customer base and project scope. Always give customers double what they ask for, whether it’s a product, service, or your time. Understand the capacity of your team. Keep them motivated and develop a reward system based on their ‘love language.’ Rare language translations are in high demand and it’s become a primary revenue stream for Day Translations. Translating online content is going to give you double the exposure. And more exposure means more money. Go to the Small Business Development Center in your city because they’ll help you get your business off the ground—for free! About 25% of Day Translation’s customers are in the medical industry. It took Sean two years to develop his app, which features video conferencing and the ability to transcribe calls. You can get an interpreter online in less than 10 seconds. The app is not just a live translator tool. It’s a way for interpreters to do remote work. As part of the gig economy, Sean is working on another app interpreters can download and work on demand, similar to how Uber and TaskRabbit operate. 3 KEY POINTS: Different things motivate different people. Everybody needs money but find out what else makes your employees happy and more productive. Think out of the box, stay humble, and always give the client double (or more) of what they’re asking for. Sean’s goal is to automate some processes to give people more opportunities to do what they do best. TWEETABLE QUOTES: “The best entrepreneurs are the ones who did the work themselves.” - Sean Hopwood “There are so many (different) little industries you can make money in.” - Sean Hopwood “Always be innovating.” - Sean Hopwood RESOURCES: Sean Hopwood’s website: Day Translations website: Day Interpreting website: Bloomberg website: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #podcast #languages #linguistics #translation #translationservices #gigeconomy #appdevelopment /episode/index/show/healthcareentrepreneuracademy/id/19127312

#190: Tactical Tuesday: Boosting Predictability to Sell More Online Courses 05/18/2021

#190: Tactical Tuesday: Boosting Predictability to Sell More Online Courses OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and host of the Healthcare Entrepreneur Academy podcast talks about how entrepreneurs can utilize online courses to scale their business. Based on the three courses he’s built, Jason offers tips on generating leads and boosting conversions. EPISODE HIGHLIGHTS: Predictability allows you to calculate and measure lead generation and conversions. Conversions equal sales so you want to (mostly) automate the system. If you don’t have a predictable revenue stream, you don’t have a reliable business. Before you launch your course, develop a training webinar and present the course offer at the end. Your webinar will convert a certain percentage of viewers into customers. Create online ads to promote and drive traffic to your webinar. Blanket messaging is convenient but it will lead to email list fatigue. Segment your audiences and align your message to their needs. Set a deadline and create a scarcity mindset to help prospects make a decision. If you offer a lead magnet like a PDF, build a follow-up email sequence to share the offer with prospects. Build a community around your course (like a Facebook group), so students can be a part of a cohort and share camaraderie as they go through the course together. Make your business an asset by establishing systems. 3 KEY POINTS: When you have reliable streams of income for your business, it’s an asset and something someone else might be willing to buy should you ever want to sell your business. Not everyone who encounters your business is in the same phase of the buying process so segment your customer list and then create custom offers or relevant content for each segment. It’s difficult to create multiple courses and market them individually so consider doing open-closed enrollments. Focus on doing a few topics and make the courses exceptionally good at delivering results in those areas. TWEETABLE QUOTES: “Quality over quantity.” - Jason Duprat “Help walk them to the path of success.” - Jason Duprat RESOURCES: If you’re interested in taking the live Course Creator Academy the next time it’s available, head over to and click the Notify Me button. HEA Facebook Group for Digital Businesses: HEA Facebook Group for Bricks & Mortar Businesses: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #podcast #leadgeneration #conversions #revenuestream #webinar #onlinecourses /episode/index/show/healthcareentrepreneuracademy/id/19127204

#189: Michelle Seiler Tucker: Build People & They’ll Build the Business 05/13/2021

#189: Michelle Seiler Tucker: Build People & They’ll Build the Business OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and host of the Healthcare Entrepreneur Academy podcast talks with Michelle Seiler Tucker, founder and CEO of Seiler Tucker Inc. Michelle is a 20-year veteran in the M&A industry, an international keynote speaker, and the bestselling author of the book Sell Your Business For More Than What It’s Worth. She shares what she’s learned from franchise sales and from buying, selling, fixing and growing companies. She also introduces her upcoming book, Exit Rich. EPISODE HIGHLIGHTS: Michelle always knew she was a writer, entrepreneur and a people person. She went to medical school but quickly realized it wasn’t for her. She became a closer while working for Xerox, learned about franchise sales, and then left the corporate world to start her own M&A firm. Sales is about listening to the client and asking the right questions. Find out what they need. Clients should do 70% of the talking and the salesperson should do 30%. Buy an existing franchise because it’s cheaper than buying a new one. When you buy a new one, you’ll pay a franchise fee and build-out costs, along with utilities, equipment and furniture, which can run 3-5 million. Franchises allow you to own a business without going it alone. This isn’t necessarily a good fit for entrepreneurs who like to make their own rules. The biggest mistake business owners make is not thinking about having the end in mind and their exit strategy. There are five types of buyers: first-time, turnaround specialists, private equity groups, strategists and competitors, and sophisticated entrepreneurs. The number one reason why companies go out of business? Because they neglected to focus on AIM - always innovate and market. Processes (or systems) need to be designed with the customer experience in mind. They should be efficient, productive, well documented and create WOW experiences. Build your brand and build your exit so you can exit rich. It’s not just about selling - it’s about building a business that is scalable and sustainable. You don’t know what you don’t know so align yourself with a mentor. Order Michelle’s new book, Exit Rich to get free bonus gifts! See link in the Resource section. 3 KEY POINTS: Franchising is great for people who want to own their own business but don’t want to be in business by themselves. It’s not so great for entrepreneurs because they prefer to be their own boss. The GPS exit model: determine your destination, know your valuation, establish a timeline and know the buyers. The 6P’s to build, grow and sell a business: people, product, process, proprietary, patrons and profit. TWEETABLE QUOTES: “Plan your beginning with the end in mind.” - Michelle Seiler Tucker “You build people and then people build the business.” - Michelle Seiler Tucker RESOURCES: Exit Rich book: Seiler Tucker website: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #podcast #salescloser #franchisesales #salesstrategy #exitstrategy #sellyourbusiness /episode/index/show/healthcareentrepreneuracademy/id/19055156

#188: Tactical Tuesday: Use the Lean Startup Method to Successfully Launch your Practice 05/11/2021

#188: Tactical Tuesday: Use the Lean Startup Method to Successfully Launch your Practice OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and host of the Healthcare Entrepreneur Academy podcast talks about the costs of launching a practice. Drawing from his own experience, he shares the primary costs to factor in and why you should consider the Lean Startup method. EPISODE HIGHLIGHTS: Clinic location will impact rent and insurance costs. The type of practice will dictate the level of equipment needed. Payroll considerations should include if you need to hire part-time staff or if you have family helping you, hours of operation and volume of business. It’s more cost-effective to rent space instead of constructing a new clinic. Consider what comes with the space like hand wash sinks, paint, room layout, flooring, lighting, ADA accessibility and storage. Think about equipment and furniture expenses, as well as rent and deposit costs. Also, consider medical supplies. Jason recommends only ordering 1.5-2 weeks out to start. Consider all types of licenses like DEA and business licensing, as well as malpractice and liability insurance. Jason suggests consulting with an attorney and a CPA as part of your professional service startup costs. Keep in mind marketing costs for business cards, building a website, postcards or direct mail pieces, printed promotions and paid advertising like Facebook ads. Lastly, budget for utilities such as electric, water and cable, as well as disposal of sharp and hazardous waste. Jason opened his first clinic for under 15k. He suggests making little purchases over time to avoid large cost accumulation. Go lean and start small - grow into your practice. It’s too easy to get into a financial hole if you go all-in by purchasing a large space and hiring a big team. Jason is an advocate for the Lean Startup method. He opened his first practice with an 800 square foot space and a short-term lease. Smaller practices can be lucrative, especially if they offer self-pay services such as direct primary care or ketamine infusion. You don’t have to accept insurance when you open a practice. Reimbursement costs average 85% plus you can pay 3-7% on gross receipts to billing companies. If you choose self-pay services, you’ll need to market yourself and your practice. Be clear on scope of practice, create a baseline business plan, forecast revenue and track expenses. Jason is developing a new online course to teach healthcare practitioners how to open and launch a self-pay practice. 3 KEY POINTS: Key factors impacting the cost of starting a practice are location, type of practice and payroll. Typical startup expenses can be broken down into construction, equipment, furniture, office space, medical supplies, licensing, insurance, professional services, marketing, utilities and hazardous waste disposal. If you’re willing to change your mindset and invest in marketing, self-pay practices can be very profitable. TWEETABLE QUOTES: “Do little expenses over time.” - Jason Duprat “Start small and grow into your practice.” - Jason Duprat RESOURCES: HEA Facebook Group for Digital Businesses: HEA Facebook Group for Bricks & Mortar Businesses: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #podcast #startup #openyourownpractice #startupcosts #leanstartup #scopeofpractice /episode/index/show/healthcareentrepreneuracademy/id/19055117

#187: Cathy Cather: Disrupting Standard Treatment Protocols 05/06/2021

#187: Cathy Cather: Disrupting Standard Treatment Protocols OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and host of the Healthcare Entrepreneur Academy podcast talks with Cathy Cather, CEO and co-founder of Parallel Testing. Cathy discusses her journey as a consultant and entrepreneur. She shares what led her to launch Parallel Profile™ and the ways she continues to expand her business. EPISODE HIGHLIGHTS: Cathy used to work in the IT industry and moved often due to her promotions. When she was sent to San Diego, she decided it was time for a change and transitioned to healthcare. Cathy comes from a family of entrepreneurs including her father and grandfather. She started her own consulting company to help companies with their messaging and sales strategies for product development and design. Personal experiences involving her husband, mother, and a friend who all suffered from adverse drug reactions motivated Cathy to launch Parallel Profile™. Cathy wants to disrupt standard treatment protocols utilizing genetic information to advance patient care. Parallel Testing completes the genetic testing and provides reports. Parallel Profile™ makes the reports understandable and accessible through an app. Between the two, patients can determine which medications match their DNA and will work safely. 128,000 people die each year from adverse drug reactions. 2.7 million have an adverse reaction and are admitted to the hospital. 90% of drug prescriptions don’t work for 30-50% of people. The average person over the age of 65 is on a dozen medications because of prescribing cascades. This occurs when a drug causes adverse symptoms which are misinterpreted as a new condition which then leads to a new medication being prescribed. Cathy’s team developed a platform for doctors so they can take a continued education course on pharmacogenetics. Practitioners don’t need to be experts on all 50,000 drugs—just the 8 or 10 they prescribe. 3 KEY POINTS: Pharmacogenetics could prevent 128,000 people in the US from dying due to adverse drug reactions. Through technology, Cathy and her team educate practitioners and make pharmacogenetics more accessible. The effectiveness of medicines is genetics-dependent. If you develop new symptoms within 6 months of using a drug, research and learn about the uncommon side effects. Networking and outsourcing have their advantages, but specs and oversight management are keys to running a tech-based startup. TWEETABLE QUOTES: “When you get gems, incorporate them.” - Cathy Cather RESOURCES: Parallel Profile™ Website: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #podcast #startup #medications #DNA #genetics /episode/index/show/healthcareentrepreneuracademy/id/18948884

#186: Tactical Tuesday: Use Scope of Practice as your Roadmap for Opening a Clinic 05/04/2021

#186: Tactical Tuesday: Use Scope of Practice as your Roadmap for Opening a Clinic OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and host of the Healthcare Entrepreneur Academy podcast talks about the best entrepreneurial states for APRNs to open up a practice. He answers questions about how to actually start a practice, including the importance of remaining within your scope of practice. Be sure to listen until the end of the episode for a special free offer from Jason! EPISODE HIGHLIGHTS: The Nurse Practice Act outlines everything a nurse is allowed to do, depending upon their license type. Visit your state’s Board of Nursing website to access scope of practice regulations. Over the last 30 years or so, there’s been a big move to expand scope of practice and increase autonomy for nurses in the US. When it comes to owning a practice, there are several levels of physician involvement. Only a few states require having a physician present for direct supervision. Following direct supervision, the next level is physician supervision where the physician directs the work and has overview responsibilities to ensure appropriate treatment is provided. Next is physician collaboration which means a physician isn’t required to be onsite yet he/she is available for consultation. Protocols at this level can be in a written format yet it’s not required. Lastly, a physician isn’t required to be onsite for the independent practice level and these protocols can be verbal. Independent prescribing is an area that falls into this level. If you need to find a collaborating physician, NPs can go to the Collaborating Docs website (see link in the Resource section). If regulations limit your scope of practice to a certain area, hire another NP or you can change your specialty by obtaining a post-master’s graduate certificate. 3 KEY POINTS: You can start a practice in any state, but the best states allow nurses to practice independently of a physician and to prescribe—no collaboration required. Understand the level of autonomy allowed by your state’s regulations and then structure your practice so staff members remain within their scope of practice. Collaborating physicians are not responsible for the independent decisions of the APRNs they’re supervising or working with. TWEETABLE QUOTES: “Understand your scope of practice.” - Jason Duprat “Hire...or become double board certified.” - Jason Duprat RESOURCES: To download ‘The 22 Best States To Open A Practice For APRNS’ guide and to gain access to Jason’s Bonus Deep Dive Video, visit Collaborating Docs Website: HEA Facebook Group for Digital Businesses: HEA Facebook Group for Bricks & Mortar Businesses: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #podcast #nurses #scopeofpractice #openyourownpractice #startyourownpractice /episode/index/show/healthcareentrepreneuracademy/id/18948770

#185: Merrily Orsini: Focus on Profitability & Perseverance 04/29/2021

#185: Merrily Orsini: Focus on Profitability & Perseverance OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast talks with Merrily Orsini, entrepreneur, President and CEO of corecubed and podcast creator and host of Help Choose Home. Merrily shares the lessons she’s learned from starting, growing and selling a company, as well as digital marketing. EPISODE HIGHLIGHTS: After being in social work for almost a decade, Merrily started her first business, a remote home management service that evolved into eldercare solutions. The home care business can take a physical and emotional toll on you because it’s 24/7/365 and you are with people at the end of their lives. Merrily founded corecubed in 1998 to support other home care businesses. Now, corecubed specializes in digital marketing and education. The purpose of advertising and marketing is to meet a need and educate people about their options and choices. She spent about four years focusing on the profitability of her business and ultimately created a model of care that continues to be used today. The model is focused on needs vs prescriptive formulas. Merrily was an early pioneer of remote work environments both with Eldercare Solutions and corecubed. The three lessons Merrily learned about growing and selling a business include hiring people smarter than you, focusing on recurring monthly income and continuing to learn how you can do things better. She stresses the importance of knowing why you started your business and investing in the structure and maintenance of your online presence. If your business is failing, figure out why and tweak systemically. 3 KEY POINTS: Constantly be on the lookout for what needs to be done better. Focus on how to make your business the best and the most profitable. Know when to bring in professional support (especially for marketing), be good to your people and give credit where it’s deserved. Regardless of how good you are or how well you run your business, there will be difficult challenges beyond your control. If you feel strongly about your ideas, perseverance will get you through to the next level. TWEETABLE QUOTES: “If someone needed something done, we did it as long as it was legal.” - Merrily Orsini “You’re in this (entrepreneurship) for the long haul.” - Merrily Orsini RESOURCES: corecubed website: Help Choose Home Podcast: Merrily Orsini’s website: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #podcast #eldercare #homecare #digitalmarketing #remotework /episode/index/show/healthcareentrepreneuracademy/id/18855740

#184: Tactical Tuesday: Create Raving Customers by Over Delivering on Small Promises 04/27/2021

#183: Jay Mays: Find the Little Nuggets & Turn Them Into Big Opportunities 04/22/2021

#183: Jay Mays: Find the Little Nuggets & Turn Them Into Big Opportunities OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and host of the Healthcare Entrepreneur Academy podcast talks with Jay Mays, CEO and co-founder of MPLT Healthcare. Jay offers tips on recruiting healthcare professionals and running a successful business. He also shares lessons he’s learned as a CEO. EPISODE HIGHLIGHTS: Working for Maxim Healthcare for a decade sparked Jay’s interest in healthcare staffing and taught him how to expand a business. Find a niche—nuggets of opportunity or areas where there’s not a lot of competition—do well and then expand into other spheres. Don’t be afraid to break down processes and then rebuild them. The key for startups is to start small. Put your head down and do the work to grow the business. It’s about the right time, the right opportunity and trusting your abilities. Take those opportunities to show people what you can do. Jay has established his brand as a recruiter by building relationships with people, and by being honest and informative without overstepping boundaries. It’s rare you have a round peg and a round hole. So work to find solutions and compromise. Technological advancements, such as AI and blockchain, have improved the recruiting and staffing industry, making it easier to match jobs to people. At MPLT Healthcare, hospitals are responsible for credentialing incoming physicians, but his company helps facilitate the process. In his first few years as CEO, Jay continued to work as a recruiter and account manager. He credits his sports background for his determination and winning mentality. Jay’s advice for entrepreneurs is to take the chance and put yourself out there. Don’t wish - roll up your sleeves and do it. 3 KEY POINTS: One of the key components to running a business is accountability. Own up to your mistakes and come up with a solution. In the recruiting business, some problems cannot be solved through text or email so pick up the phone and get the parties involved. Talk through solutions in a consultative nature vs taking a sales approach. Jay encourages people to be competitive and to have a winning mentality. Believe in yourself, and when opportunities come, put yourself out there. TWEETABLE QUOTES: “You’re better but I’ll try harder.” - Jay Mays “Surrounding yourself with good people makes the journey special.” - Jay Mays RESOURCES: MPLT Healthcare website: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #podcast #recruitment #healthcarerecruiting #buildrelationships #createopportunities /episode/index/show/healthcareentrepreneuracademy/id/18786092

#182: Tactical Tuesday: Boost Accountability & Engagement through Live Online Courses 04/20/2021

#182: Tactical Tuesday: Boost Accountability & Engagement through Live Online Courses OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast talks about the pros and cons of live online course programs. He explains why there’s a growing demand for live classes compared to pre-recorded and the benefits live courses offer. EPISODE HIGHLIGHTS: Online courses can be delivered in two formats. Prerecorded courses provide evergreen content and business scalability while live courses offer greater engagement and accountability. Live online courses allow you to elevate your business offer while boosting completion rates and success rates. Some of the challenges associated with prerecorded courses include a lack of accountability, the inability to network and interact, as well as learning from other students. 85% of students who pay for an online course don’t complete it. With live courses, interactivity is 10-20x greater yet it’s harder to scale. You can offer more seats and charge more for the value-added benefits of live courses. If you want to shift from prerecorded to live, start with one or two hour-long classes with no replays. Jason is exploring live online courses and training to continue to grow his business and to help students achieve success. 3 KEY POINTS: You need students to be happy, complete the course, get results they’re proud of and your program will sell itself. Live online courses eliminate the ability for a student to consistently fall back on replays which happens when classes are available 24/7. In-person online training can be harder to scale but students are more likely to be engaged, complete the course and obtain results. TWEETABLE QUOTES: “Keep looking for ways to improve your business no matter what.” - Jason Duprat RESOURCES: HEA Facebook Group for Digital Businesses: HEA Facebook Group for Bricks & Mortar Businesses: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #podcast #onlinecourses #onlinelearning #coursecreation /episode/index/show/healthcareentrepreneuracademy/id/18771491

#181: Dr. Kenneth Dion: A Boundary Spanner & Entrepreneurial Catalyst 04/15/2021

#181: Dr. Kenneth Dion: A Boundary Spanner & Entrepreneurial Catalyst OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast talks with Dr. Kenneth Dion, Assistant Dean for Business Innovation and Strategic Relationships at the Johns Hopkins School of Nursing. He shares tips for entrepreneurs as he talks about Decision Critical, Inc. from its foundation to its acquisition. He also discusses his role at Johns Hopkins promoting intellectual property, revenue creation and catalyzing change. EPISODE HIGHLIGHTS: Consultancy is a great opportunity for aspiring entrepreneurs to be exposed to a variety of different experiences. Conduct an environmental scan and understand what the end-user really wants. And if regulation can help to drive a revenue stream for your business, go for it. Delivering a great product while maintaining great customer service can be a challenge but it’s important for the growth of a startup. As the President and CEO of Decision Critical Inc., Dr. Dion built a learning management system. Competitor systems were closed and he provided a revolutionary open-source system by partnering with content vendors. He also led the way for healthcare professionals to create and publish an electronic professional portfolio. Thanks to technology, marketing is easier to do today but pay attention to quality in order to best support growth strategies and do your due diligence on salespeople. On transitioning after the sale of a company: keep flying the plane and get outside counsel, including someone you trust and a great attorney. During his sabbatical, Dr. Dion realized he wanted to give back to the profession that had been good to him. He was invited to join Johns Hopkins School of Nursing because of his entrepreneurial mindset. As the Assistant Dean, Dr. Dion considers himself a boundary spanner who catalyzes people. Dr. Dion believes nurses are in a great position to solve problems in healthcare. His advice is to surround yourself with people who know a different domain to build a great team. 3 KEY POINTS: When opportunities present themselves, you have to walk through the door. You need to listen to your gut. There are signposts along the way and they will help point you in the right direction. The healthcare industry needs competent (not compliant) professionals. Decision Critical filled that gap and brought the synergy model of nursing together by tracking in-depth information about clinicians. It’s okay to do well while doing good. If you make some money, do some philanthropic work. You have the opportunity to move your profession forward. TWEETABLE QUOTES: “Slow to hire, quick to fire.” - Dr. Kenneth Dion “Stay involved... be a philanthropist and a great leader.” - Dr. Kenneth Dion RESOURCES: “A Journey into the Heroic Environment” by Robert Lebow: “The Art of the Start” by Guy Kawasaki: Sigma Theta Tau: National Student Nurses’ Association: Dr. Kenneth Dion on LinkedIn: Dr. Kenneth Dion on Twitter: Dr. Kenneth Dion on John Hopkins School of Nursing’s faculty directory: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #podcast #nursing #synergy #catalyst #philanthropy /episode/index/show/healthcareentrepreneuracademy/id/18701408

#180: Tactical Tuesday: Using KPIs to Measure Business Success 04/13/2021

#180: Tactical Tuesday: Using KPIs to Measure Business Success OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast discusses digital analytics and the role of key performance indicators (KPIs). He defines these two terms and how they impact a company’s bottom line. He also highlights three categories for selecting the right KPIs to track business success. EPISODE HIGHLIGHTS: Digital analytics is the collection and analysis of information about a business. KPIs demonstrate if you and your business are moving in the right direction. They provide a measurable value for accomplishing your key business objectives. There are three categories to consider when it comes to setting up KPIs. These include increasing revenue, decreasing costs and increasing satisfaction. Increasing revenue is impacted by the number of leads and qualified traffic on your website. You can boost revenue by upping the number of orders or increasing product price. Reducing costs means reducing expenses, minimizing process complexity and decreasing the time it takes to deliver your product or service. Increasing satisfaction is achieved through increasing stakeholder engagement, including customers, investors, employees and partners. According to cognitive psychologist George Miller, an average person can track and remember up to five - plus or minus two - elements. Therefore, consider starting with three KPIs to get started. 3 KEY POINTS: Through digital analytics, companies can track massive amounts of data on internet users, including demographic information and online activity. KPIs are measurable values demonstrating whether a business is achieving its key objectives. These “endpoints” often fall under three categories: increasing revenue, decreasing costs and increasing satisfaction. KPIs should be simple, relevant, timely and useful. TWEETABLE QUOTES: “Know what your key business objectives are.” - Jason Duprat “Pick KPIs that matter the most to your business.” - Jason Duprat RESOURCES: HEA Facebook Group for Digital Businesses: HEA Facebook Group for Bricks & Mortar Businesses: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #podcast #digitalanalytics #kpi #bizsuccess #bizgrowth /episode/index/show/healthcareentrepreneuracademy/id/18684098

#179: Miriam Paramore: Elevating Healthcare through the Power of Information 04/08/2021

#179: Miriam Paramore: Elevating Healthcare through the Power of Information OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast talks with Miriam Paramore, President and Chief Strategy Officer of OptimizeRx, architect and leader of the US Healthcare Efficiency Index, and author of certain provisions in the Affordable Care Act. Miriam talks about her entrepreneurial journey and shares insight on networking and how to best meet customer needs. EPISODE HIGHLIGHTS: As a programmer and solutions designer, Miriam built and led several companies and now, she’s an investor. She also launched her own consulting firm because she saw a need for setting up HIPAA privacy rules. As a consultant, she wanted to help the healthcare industry digest convoluted data. Her mission is to leverage the power of information to improve the US healthcare system. Miriam took time to volunteer at nonprofits to develop relationships, which she believes is the key to business networking. She encourages entrepreneurs to volunteer. Provide a service, do something good with your life and contribute. When it comes to knowing your customers - take time to understand their value and how they get the money for their purchases - and then align your story so they want to buy your solution. In order to scale an idea into a company, you need two things: a team and capital. Ultimately, consumers and businesses don’t care how fast or techy a product is. They just want their problems solved and their needs met. If you don’t know the answer, find someone who does know or ask. Be willing to be wrong and adjust. As the President of OptimizeRx, Miriam oversees the company’s enterprise platform for health communications and care management with a focus on medication affordability and adherence. Miriam relates software development to her one-button microwave theory. Engineers tend to add all sorts of functions to new products but consumers don’t utilize them. Keep it simple. Leverage your product-market fit to support sales. Be intellectually curious and then scale and grow. 3 KEY POINTS: Miriam identified a need in the market for regulation on healthcare, legislated the technology formats and standards for the exchange of data, and set up privacy and security rules around those formats and standards. Take the time to develop relationships with people and lead with value because people do business with people they like. Have a solid idea, assemble people you know and trust, and figure out your product-market fit. Well-thought-out business plans with strong management teams are more likely to get funded. TWEETABLE QUOTES: “It’s in your own best interest to be nice and genuinely interested.” - Miriam Paramore “If you have an entrepreneurial zeal, just try.” - Miriam Paramore RESOURCES: OptimizeRx Website: Miriam Paramore on LinkedIn: “Blitzscaling” by Reid Hoffman and Chris Yeh: Malcolm Gladwell’s website: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #podcast #informationtechnology #volunteer #networking #productmarketfit /episode/index/show/healthcareentrepreneuracademy/id/18599810

#178: Tactical Tuesday: Optimizing Landing Pages for Impact & ROI 04/06/2021

#178: Tactical Tuesday: Optimizing Landing Pages for Impact & ROI OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast shares tips on optimizing website and landing page conversion. He also introduces Dr. Robert Cialdini’s 6 Principles of Persuasion and the attention, interest, desire and action (AIDA) model. EPISODE HIGHLIGHTS: Many business owners tend to haphazardly create websites and landing pages without really thinking about the impact they have on a company’s gross revenue. Small copy tweaks to your sites can lead to big differences in your return on advertising expenses. With software like ClickFunnels, you can make A/B versions of particular landing pages to see which is more effective or produces the best return. Utilize Robert Cialdini’s Principles of Persuasion and the AIDA model to entice people into making purchases from your website. Cialdini’s 6 Principles include scarcity (limited time sale), commitment and consistency (customer commits to a free, small item), reciprocity (in exchange for an email, send something of value), social proof (validation), authority (create trust) and liking (influence). The AIDA model includes attention (utilize headlines), interest (provide a creative offer), desire (explain benefits to foster want/need) and action (answer questions). Potential customers don’t really care about the messaging business owners often include such as awards, company history or company virtual tours. They want to know what’s in it for them. 3 KEY POINTS: Robert Cialdini’s 6 Principles of Persuasion are scarcity, commitment and consistency, reciprocity, social proof, authority and liking. Pretend to be a customer who stumbled upon your website. Then, incorporate your thoughts into your landing page marketing based on your experience. According to the AIDA model, you need attention-grabbing headlines. Develop interest and desire by explaining the benefits of your product or service. Finally, actively respond to inquiries and objections. TWEETABLE QUOTES: “Put yourself in your customers’ shoes.” - Jason Duprat “Micro changes to your pages over time can improve your conversion rates.” - Jason Duprat RESOURCES: ClickFunnels: Robert Cialdini’s website: HEA Facebook Group for Digital Businesses: HEA Facebook Group for Bricks & Mortar Businesses: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #podcast #ROI #optimization #customerconversion /episode/index/show/healthcareentrepreneuracademy/id/18613757

#177: Torben Nielsen: Be Curious; Be Persistent 04/01/2021

#177: Torben Nielsen: Be Curious; Be Persistent OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast talks with Torben Nielsen, CEO of ZOOM+Care. Torben shares his key takeaways spanning his 20+ year business career and highlights opportunities within tech-based healthcare. He also provides an overview of ZOOM+Care and the company’s capabilities. EPISODE HIGHLIGHTS: Torben’s postgraduate study on internet marketing strategies led him to a career with LEGO. He eventually transferred from Denmark to the US to work for Inovise Medical Inc., which digitizes EKG machines for the early detection of heart attacks. Torben also worked at XEROX, heading up a division to develop new segments for network color printers. Across his career, Torben has learned to challenge the current status and to challenge current business models. When developing products, observe how consumers are responding to your particular product. Iteration is key. Curiosity is also important, as well as perseverance. Test ideas early and often. Following XEROX, Torben worked at Cambia Health Solutions to improve the experiences of health insurance members utilizing an integrated provider directory. Currently, Torben is the CEO of ZOOM+Care, an on-demand healthcare platform that allows patients to schedule same-day appointments and have access to their medical data. ZOOM+Care offers telehealth and in-person visits with 60 clinics across four states. The company is focused on creating a seamless and frictionless experience for patients. There’s a ton of opportunities within healthcare for entrepreneurs to provide technology solutions. Torben’s advice is to enjoy what you’re doing. Work hard and be persistent. 3 KEY POINTS: Be curious about what other industries are doing and then apply best practices from those industries to what you’re trying to do. Test your prototypes and products early and often with customers for feedback. They’ll help inform what your product should look like and how to utilize it. Despite the challenges of COVID, technology has made it possible for people to access healthcare virtually. TWEETABLE QUOTES: “Be curious, open-minded and observant.” - Torben Nielsen “Startups are a lot of hard work, but it comes with a lot of great joy as well when things work out. Hang in there, be persistent and enjoy the ride.” - Torben Nielsen RESOURCES: ZOOM+Care: Torben Nielsen on LinkedIn: Torben Nielsen on Twitter: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #podcast #healthcaretechnology #healthcareapps /episode/index/show/healthcareentrepreneuracademy/id/18502718

#176: Tactical Tuesday: Using PPC to Refine your Ad Strategy 03/30/2021

#176: Tactical Tuesday: Using PPC to Refine your Ad Strategy OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast talks about pay-per-click (PPC) advertising and why you may want to consider utilizing it for your business. He provides insight on the terminology and reviews the steps to ensure a successful PPC campaign. EPISODE HIGHLIGHTS: Intent-based searches allow businesses to target people who are in certain phases of research and/or the buying process. There are more than 6 billion searches across search engines per day worldwide. Google alone processes 3.8 million searches per minute. PPC is more affordable than traditional marketing methods such as TV, radio or billboards. Identify your goals upfront. Do you want to build brand awareness? Do you want to capture ROI on your ad spend? Do you want to generate leads? Jason explains the terminology associated with PPC: cost per click (CPC), cost per mille (CPM), click-through rate (CTR) and cost per acquisition (CPA). When you utilize PPC, you can target prospects based on geography, demographics, devices used, time of day and keyword searches. Google Display allows businesses to use affiliated websites as virtual billboards, providing access to 90% of internet users worldwide. There are five steps for creating a successful PPC campaign. One, establish goals. Two, choose your target methods. Three, determine the ad spend. Four, analyze results. Five, use the results to further refine the ad strategy. It can be difficult to find an agency that can consistently deliver great results. Sometimes it’s better to utilize in-house staff to manage your company’s marketing needs, particularly for PPC. 3 KEY POINTS: Pay-per-click advertising is sophisticated, affordable and very effective when you consider the rate that people use search engines. With pay-per-click, you can target audiences based on geography, demographic, device, specific times of the day, keywords and website behavior. Set your goals, pick your targeting methods and analyze the results. Look for the return on ad spend and then make data-driven decisions to refine your ads and your ad strategy. TWEETABLE QUOTES: “If you’re not advertising on Google, you’re missing a real opportunity.” - Jason Duprat RESOURCES: HEA Facebook Group for Digital Businesses: HEA Facebook Group for Bricks & Mortar Businesses: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #podcast #ppc #payperclickads #onlineads #onlineadstrategy /episode/index/show/healthcareentrepreneuracademy/id/18502622

#175: Robert Armstrong: Take the Gamble, Risk & Leap of Faith 03/25/2021

#175: Robert Armstrong: Take the Gamble, Risk & Leap of Faith OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast talks with Robert Armstrong, CEO and Co-Founder of Appstem, a mobile and web app design and development agency. Robert offers advice on creating a business plan, growing a tech startup and working in the app development arena. EPISODE HIGHLIGHTS: Robert’s background in business marketing and sales taught him to keep an even temperament, remain humble and keep going in spite of a lot of rejection. After coming up with a business plan with his partner, he quit his job at Oracle and launched Appstem. Five or six weeks later, the startup closed its first deal. Robert had anxiety yet believed it was worth the risk and gamble to leave his full-time job to launch his startup. Appstem grew organically, hiring around contracts and eventually expanding to have an in-house, end-to-end team, including, UI/UX designers and creative directors. Robert manages sales and marketing, with a focus on growing Appstem. His partner is a software engineer in charge of product development. His advice for startups is to think about how you’re going to let people know your solution exists. He also recommends remaining fluid in your product roadmap and talking to customers to find the ideal product-market fit. Think of your business plan as a guiding and evolving light. Focus on solving a problem and defining a go-to-market plan. When it comes to sourcing a potential development partner, make sure they have the full set of capabilities you’re looking for. Work with tech stacks that are stable and have a strong community of backers. Offshore development can be cheaper, but you need to find a reputable firm you can trust. US-based teams have a better sense of design aesthetic and usability, and they offer full teams as well. Apps should have a strong foundation so developers can continuously build on them. 3 KEY POINTS: When you’re launching a startup, it’s important to have a business plan and keep reworking it. The cheaper and faster way to get a product into potential customers’ hands is to solve a basic problem the largest number of users are experiencing. Focus on one platform and then refine and polish from there. Users prefer apps that are clean, sophisticated and easy to use. The interface design and experience have to be seamless in order to give a great first impression. TWEETABLE QUOTES: “There’s always going to be some risk and anxiety in leaving a long-term and steady job... but I figured that I might as well give it a go.” - Robert Armstrong “You need to have the tools and systems to optimize and enhance apps. It takes constant refinement.” - Robert Armstrong RESOURCES: Appstem: Robert Armstrong on LinkedIn: “The Four Steps to the Epiphany” by Steve Blank: The Lean Startup: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #startup #mobileapplications #webapplications #techstartup /episode/index/show/healthcareentrepreneuracademy/id/18412868

#174: Tactical Tuesday: How Healthy is Your Email List Hygiene? 03/23/2021

#174: Tactical Tuesday: How Healthy is Your Email List Hygiene? OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast talks about email marketing. He highlights three regulations business owners should be aware of and compliant with, and also shares tips for optimizing your email list hygiene. EPISODE HIGHLIGHTS: Email is the most highly used and most effective way to reach prospects and customers online. There are 3.8 billion email users and 1 billion accounts. Email has about a 6% conversion rate and a 3.7% click-through rate.. Comparatively, social media has an engagement rate of about 0.50%. The ROI on email is well over 4000%, as costs are low compared to traditional marketing, such as direct mail. The General Data Protection Regulation (GDPR) applies to anyone residing in the EU. It’s extremely strict about how a company should post its privacy policy and how subscriber data is used. The California Consumer Privacy Act (CCPA) is geared towards large corporations but there are good practices worth googling. Jason shares the five components of the Controlling the Assault of Non-Solicited Pornography And Marketing Act (CAN-SPAM), which applies to all promotional emails. If you’re making an offer or selling something, it’s considered promotional. Jason also provides three tips for optimizing your list hygiene. One, maintain low unsubscribe rates. You can do this by avoiding list buying, which hurts deliverability because these emails are often marked as spam. Two, maintain good open and click-through rates by sending relevant content to segmented audiences within your database. Three, if subscribers don’t open your emails in 60-90 days, consider deleting them from your database. The overall movement in digital marketing right now is to protect consumer privacy. 3 KEY POINTS: Because there are more than a billion email accounts and the cost of sending mass emails is very low, it’s the most highly used and effective online marketing strategy. Business owners should check out the details of the GDPR, the CCPA and the CAN-SPAM Act to make sure they’re compliant. Avoid buying email lists. Send only relevant emails to relevant segments of your subscriber database. TWEETABLE QUOTES: “(When it comes to engagement), email marketing blows social media posts out of the water.” - Jason Duprat “Keep good email list hygiene.” - Jason Duprat RESOURCES: GDPR: CCPA: CAN-SPAM: HEA Facebook Group for Digital Businesses: HEA Facebook Group for Bricks & Mortar Businesses: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #podcast #emailmarketing #onlinemarketing #onlinestrategy #consumerprivacy /episode/index/show/healthcareentrepreneuracademy/id/18412781

#173: Brian Gill: Why Startups Need a Tech Nerd in the Room 03/18/2021

#173: Brian Gill: Why Startups Need a Tech Nerd in the Room OVERVIEW: Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast talks with Brian Gill, Chairman and CEO of Gillware. Brian also started five successful tech startups including SHINE Medical Technologies and Tetra Defense. Brian discusses the steps needed to start a tech business. He also shares solutions for some of the IT problems companies might face and how they can better protect their data. EPISODE HIGHLIGHTS: Brian began working in data services with a desire to help companies with data disasters. In early 2000, he started several companies including Gillware Data Recovery, Phoenix Nuclear Labs and SHINE Medical Technologies. Later, he started Gillware Digital Forensics, now known as Tetra Defense. Brian stresses the importance of technology, data protection, and recovery, and risk mitigation consultation within the healthcare industry. In today’s startup world, many build their own website. Once you start getting a lot of traffic, you can pay Cloudflare, a network that provides content delivery services so your website can handle a large number of sessions. For small technology firms, it’s better to contract with IT teams from a managed services provider (MSP) versus hiring and to get a third party to act as watchdogs for your MSP staff or internal IT department. Every day, hundreds of companies in the US are affected by data breaches such as ransomware. Startups should prioritize getting a cyber insurance policy on day one. According to Brian, sufficient IT security costs should be at least $1,000 per person per year. For individuals, he recommends the YubiKey, which is $50 on Amazon. When you do a data backup, make sure it’s air gapped. Disconnect your hard drives or devices from unsecured networks to prevent breaches. 3 KEY POINTS: To launch a tech solutions company, you don’t need to be tech-savvy or have a lot of hardware. You can hire talent and use cloud-type storage systems. When creating a business, budget for IT or IT security even in your seed rounds. A good IT security plan starts with the question, “What happens when we have a breach?” Organizations need to be able to detect and respond to these events. TWEETABLE QUOTES: “To develop a unique virtual product, you’re going to need some real nerds.” - Brian Gill “It’s much easier to play defense and spend the money to not get hacked.” - Brian Gill RESOURCES: Brian Gill on LinkedIn: Gillware: Tetra Defense: YubiKey on Amazon: #HealthcareEntrepreneurAcademy #healthcare #entrepreneur #entrepreneurship #startup #cybersecurity #techsolutions #databreach #datarecovery #ransomware #cyberinsurance /episode/index/show/healthcareentrepreneuracademy/id/18321560

Healthcare Entrepreneur Academy Podcast

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