The Human Touch: Building Healthcare Practices Worth Preserving Featuring Michael Silva, EP 167
Many healthcare providers are excellent clinicians but weren't trained in business fundamentals. In this episode, physical therapy practice consultant Michael Silva shares insights from his journey from frustrated employee to successful practice owner to helping others build sustainable private practices. Drawing from over 25 years of experience, Michael emphasizes how exceptional patient experience and solid business systems create practices worth preserving.
Key Takeaways:
- Why focusing on hospitality over basic customer service creates lasting patient relationships
- The importance of standardized systems and processes for sustainable growth
- How to build a practice that's sellable versus one dependent on the owner
- Creative exit strategies that keep private practices private
- Practical tips for creating positive patient experiences, including the 10/5 rule for patient greetings
- Why word-of-mouth marketing through exceptional service beats paid advertising
- The value of investing in experienced business guidance early in practice development
Notable Quotes:
"Business is business. Your clinical way of doing things can be what sets you apart, but if you don't have systems, you're not going to have an efficient business."
"Everyone walks into our office with a 'help me' sign on their head - you're here for them."
Michael’s Bio:
Michael Silva is a healthcare business consultant and founder of the RUNstrong® program, leveraging over 25 years of physical therapy and practice management experience. After building FOUNDATIONperformance Sports Medicine from a basement office to a three-location practice with 24 employees, he successfully sold to Performance Physical Therapy (now Highbar) in 2021.
Drawing from his experience as both practice owner and acquirer, Michael now helps healthcare providers across North America build, grow, and exit their practices successfully. He's a sought-after speaker on topics ranging from running injuries and rehabilitation to creating ideal client experiences in private practice.
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