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Welcome to Thriving Practice - the show for healthcare practice owners who want to grow their practice while taking back their time. Hosted by executive coach and business consultant Tracy Cherpeski, this podcast features exclusive interviews with diverse healthcare business experts and successful practice leaders spanning the globe. Join us for authentic conversations about what it takes to build a successful practice without sacrifice. Our goal is to equip you with the right mindset, strategies and tools to take back your time, grow your practice and elevate your leadership. Subscribe now and then go to ThrivingPracticeCommunity.com to learn more about our modern Community of Practice for ambitious practice leaders who want to do things differently.
Episodes
Wednesday Jul 12, 2023
EP 103: Harmony Amidst Chaos: Effective Conflict Management with Carol Bowser
Wednesday Jul 12, 2023
Wednesday Jul 12, 2023
Carol Bowser, founder of Conflict Management Strategies joins us today. We delve deeply into the art of conflict management and how it intertwines with workplace culture. We explore strategies for preventing conflicts, navigating through difficult conversations, and fostering a healthy and inclusive environment where individuals feel valued and respected.
Throughout the episode, Carol drops platinum wisdom bombs, and practical tips, personal anecdotes, and immediately actionable advice for leaders and their teams to navigate conflicts effectively, and create a healthy workplace culture.
We discuss the role of effective communication, the importance of empathy and active listening, types of open-ended questions to ask, and the power of collaboration in resolving conflicts and building stronger teams.
Carol shared an acronym to help navigate conflict:
S.O.A.P.
Subjective (how am I thinking about this situation?)
Objective (what are the facts/what’s really happening?)
Assessment (what’s the effect on me, the practice, my team?)
Plan (put a reparative plan in motion/build and put a preventative plan in place)
Read the full show notes on our website.
Throughout the episode, Carol drops platinum wisdom bombs, practical tips, personal anecdotes, and immediately actionable advice for leaders and their teams to navigate conflicts effectively, and create a healthy workplace culture.
We discuss the role of effective communication, the importance of empathy and active listening, types of open-ended questions to ask, and the power of collaboration in resolving conflicts and building stronger teams.
Carol’s parting wisdom is:
- Understand that how you view micromanagement, conflict and good leadership is going to be different from how others view it.
- How people say they want to be managed may be very different from how they need to be managed.
- Be crystal clear in communicating whether your communication expectations are guidelines (negotiable, open to interpretation) or ground rules (not negotiable, set)
Bio:
Carol Bowser, J.D is a workplace conflict expert. After practicing Employment Law for several years, Carol founded Conflict Management Strategies when she realized a lawsuit can’t deliver the level of resolution and satisfaction that is gained when people are actively involved in creating solutions to their workplace conflict.
Carol’s clients come with a wide range of employers because conflict is universal across all industries and types of organizations. Where there are people, there is conflict. The key is to help people recognize and address conflict before it damages working relationships and creates organizational drag. In her over 20 years of experience, she has discovered some universal themes about workplace conflict and loves to share how people at all levels can strengthen their conflict resolution muscles.
Find Carol:
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Wednesday Jun 28, 2023
EP 102: Prescription to Tame Overwhelm with Tracy Cherpeski
Wednesday Jun 28, 2023
Wednesday Jun 28, 2023
Welcome to Episode 102. Today Tracy’s going solo and sharing how you can manage and overcome overwhelm as a provider-owner.
The healthcare industry is facing a major burnout crisis, with high levels of stress and overwhelm. The negative stigma around mental health keeps a lot of providers from seeking professional help with the mental and emotional stress they experience.
Listen to learn more:
- The healthcare industry is facing a burnout crisis, with high levels of stress and dissatisfaction among physicians.
- Female physicians, in particular, experience higher rates of burnout.
- The fear of stigma and potential professional consequences prevents many physicians from seeking mental health treatment.
- Physician burnout has significant financial costs, over US$6 Billion, including recruitment and replacement expenses, and there is projected to be a shortage of 122,000 physicians by 2032.
- Work-life integration, regulatory and insurance requirements, and other factors contribute to overwhelm and burnout among healthcare providers.
Tracy shares the Time Delegation Quadrant that she teaches her clients to take back time and energy, and to streamline how they prioritize.
Quadrant A is for items to complete today; B is for items to complete this week; C is for longer-term projects, and D is for Do it (now), Delegate it (to your capable team) or Delete it because it is not important. To start using the Time Delegation Quadrant and other helpful time and priority management tips, you can download our guide at https://www.tracy cherpeski.com/quadrant
Resources in this episode:
Study Referenced on Physicians and Burnout
Episode 98: The Myth of Work-Life Balance
Episode 101: Conquering Burnout Roundtable
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Wednesday Jun 14, 2023
EP 101: Conquering Burnout: A Recipe For Success
Wednesday Jun 14, 2023
Wednesday Jun 14, 2023
In this episode of Thriving Practice, host Tracy Cherpeski invites you to listen to a captivating roundtable discussion featuring two expert guests: Justin Maxwell, a tax and wealth strategist, and Dr. Yishai Barkhordari, a psychologist and therapist. Together, they explore effective time leadership and optimizing energy for healthcare professionals facing the unique challenges of building a business, providing excellent care, and staying on top of their professional game.
The episode begins by acknowledging the prevalent issue of burnout among medical and dental practice owners, resulting from the high demands and stress of running a healthcare practice. However, the discussion goes beyond merely talking about burnout and delves into actionable strategies to avoid or recover from it while leading a successful practice and maintaining a fulfilling life outside of work.
Justin Maxwell brings his expertise in navigating the financial journey of practice owners, offering insights on optimizing resources and achieving long-term success. Dr. Yishai Barkhordari contributes valuable knowledge as a psychologist and therapist specialized in working with driven professionals. He provides guidance on maintaining wellbeing and excelling in one's career amidst the challenges faced by healthcare provider-owners.
For healthcare provider-owners seeking guidance on achieving a healthy work-life balance without compromising success or well-being, this episode offers a wealth of wisdom and actionable advice from the experts.
Expert Guests:
Justin Maxwell, a tax and wealth strategist to practice owners.
Dr. Yishai Barkhordari, a psychologist and therapist to driven professionals
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Wednesday May 31, 2023
EP 100: From Success to Future with Tracy Cherpeski
Wednesday May 31, 2023
Wednesday May 31, 2023
EP 100: From Success to Future with Tracy Cherpeski
Celebrate episode 100 with us! Tracy takes a rearview mirror look at the last 2 ½ years of podcasting, highlighting several episodes that have stood out to her for a variety of reasons. She also shares why a bloopers reel was not on the table for this episode.
Episode that surprised her: EP 78: Psychedelics for Everyone with Matt Zemon
Episode where she learned something new: EP 85: A New Frontier: Regenerative Medicine with Jeremy Pont
Episode that inspired her: EP 92: Revolutionary Relational Dental Hygiene with Erika Flateau
Episode that blew her mind: EP 93: Increased Efficiency with Tech Solutions with Jonathan Chen
Join us in two weeks as Season 6 launches, starting with EP 101: Combatting Burnout: a Roundtable Discussion with Justin Maxwell and Dr. Yishai Barkhordari.
Other topics to look forward to in Season 6:
- Provider well-being
- Leadership and practice management
- Medical Ethics and legal considerations
- Entrepreneurship (in the context of private practice)
- Treating patient care like a hospitality business, and much more
Bio:
Tracy Cherpeski is the President and CEO of Tracy Cherpeski International, a coaching and consulting firm that helps healthcare practice owners and their teams grow their practices while protecting their most precious assets: their time and energy.
Schedule Your Free Practice Assessment Strategy
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Wednesday May 17, 2023
EP 99: Transforming Healthcare: Expert Telehealth Support with Lauren Howard
Wednesday May 17, 2023
Wednesday May 17, 2023
Welcome to episode 99 of Thriving Practice, THE business podcast for medical, dental and healthcare practices where we help provider-owners grow their business and take back their time.
You’re in for a treat today. L2 shares her insights and wisdom, starting with the fact that there are no practices without operational needs. In other words, every single practice will have operational needs and would benefit from expert support.
Highlights:
When you bring in experts in their area to support your practice, you empower yourself to become a better decision maker and practice leader.
The decision to grow and scale or stay smaller - how neither is a wrong choice. Being extremely intentional in your choice is key.
L2 is sharp and engaging, and I know you’ll want to take notes. Also, follow her on LinkedIn for her refreshing, deep and powerful stories and insights.
Lauren’s parting wisdom is:
- The way it’s always been done, doesn’t make it the right way to do it.
- Trust your gut for the next moves.
- It’s perfectly acceptable to have a non-traditional medical career.
Bio:
Lauren "L2" Howard, President and CEO of ElleTwo and VirtuELLE Health, specializes in clinical operations, healthcare technology, and helping women redefine professionalism.
At VirtuELLE Health, L2 marries her experiences to provide infrastructure design, market fit insights, implementation strategies, growth models and more to healthcare and allied healthcare companies. She works with groups around the globe to help direct strategy and advise on growing digital health technologies and programs in a post-pandemic world.
Through the re-launched ElleTwo, L2 will lift up the voices of women, provide resources for growth, and community for support to anyone looking to redefine professionalism for themselves.
Find Lauren:
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Wednesday May 10, 2023
EP 98: The Myth of Work-Life Balance: Why Striving for Equilibrium is Holding You Back
Wednesday May 10, 2023
Wednesday May 10, 2023
Welcome to Episode 98. Tracy is sharing about the myth of work-life balance, and how you can start to look at it differently, starting with your mindset around what “balance” means.
Learn the difference between work-life balance and work-life integration, and hear how Tracy teaches her clients to embrace the metaphor of harmony rather than balance or equilibrium.
Think about your favorite soothing music. It’s got beautiful harmonies and it works. If one of the instruments or singers is out of tune, it creates a kind of friction that’s hard to listen to, especially if it lasts through the whole song or an entire symphony. The same is true in life.
Tracy walks you through the five steps of the cycle of work-life balance, and references a study by Harvard Business Review.
The five steps of the cycle of work-life balance (harmony):
- Pause and denormalize
- Pay attention to your emotions
- Reprioritize
- Consider your alternatives
- Implement changes
Tracy shares client stories and the methods she teaches clients to create their own framework and system to create work-life harmony on their terms.
Schedule Your Free Practice Assessment Strategy
Resources & References:
The myth of ‘work-life balance’ is a generational illusion (Fortune)
Work-Life Balance Is a Cycle, Not an Achievement (Harvard Business Review)
Importance of a Work-Life Balance
Work-life balance – Managing the interface between family and working life
Work-Life Balance (Mental Health America)
Work-Life Integration vs. Work-Life Balance (US Chamber of Commerce)
Bio:
Tracy Cherpeski is the President and CEO of Tracy Cherpeski International, a coaching and consulting firm that helps healthcare practice owners and their teams grow their practices while protecting their most precious assets: their time and energy.
Schedule Your Free Practice Assessment Strategy
Connect With Us:
Schedule Strategy Session with Tracy
Wednesday May 03, 2023
Wednesday May 03, 2023
Welcome to Episode 97. Today Tracy is talking about how to decrease turnover and increase staff retention.
With turnover at over 26% overall in healthcare, it is no small wonder it’s top of mind for practice owners. Tracy breaks down how to take three simple (but not necessarily easy) steps to improve morale and staff retention.
Some of the primary reasons for turnover are:
- Staff is overworked
- Work environment is stressful
- Lack of decision-making power
- Lack of recognition and direction from the top
This episode focuses on the last reason: lack of recognition and direction from the top. All are important, though in her experience in over 12 years of coaching and consulting clients, focusing on one area can often be supportive of addressing other sticky areas in need of attention.
Here are the three ways to improve employee retention:
- Get clear about what you want for your practice.
- Communicate your vision with your team.
- Follow up like the wellbeing of your practice and team depend on it, because they do.
Tracy shares a personal story and a client story, so make sure to listen closely and take notes.
Schedule Your Free Practice Assessment Strategy
Bio:
Tracy Cherpeski is the President and CEO of Tracy Cherpeski International, a coaching and consulting firm that helps healthcare practice owners and their teams grow their practices while protecting their most precious assets: their time and energy.
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Schedule Strategy Session with Tracy
Wednesday Apr 26, 2023
EP 96: Hidden Business Breakthrough Secrets with Dr. Matthew Norton
Wednesday Apr 26, 2023
Wednesday Apr 26, 2023
Have you ever thought of emotional agility and surrender as the hidden business breakthrough secrets?
Today’s guest is Dr. Matthew Norton, a leadership and team culture coach serving business owners who want to increase profitability, and are open to doing that through improving the people aspect of their business.
Matthew shares stories of loss of life and purpose, and how to reconnect, or connect for the first time, with our own unique genius. He describes his “Core Four” assessments, and likens them to the different languages we all speak:
- Action Approach
- Cognitive Styles
- Inspiration Sources
- Emotional Agility
He says the last assessment, your emotional agility, is the most critical to your ability to lead.
We talked at length about one of my favorite topics: mindset, and Matthew shared some resources that we’ve linked in the show notes, so make sure to scroll down to access them.
His parting wisdom is:
- Clarity is most the noble driving purpose
- Begin with yourself, the leader (you ARE your first hire, afterall)
My biggest takeaway from our conversation is that when we understand ourselves and others, we are in a much better position to lead, and leadership is much more about listening and guiding than telling and directing.
Make sure to check out the Core Four assessments at PeoplePlusPurpose.com to learn about yourself and your team. You’ll be so glad you did.
Bio:
Matthew Norton has been a business owner and leader since 1983. He’s an expert in human behavior and cognitive science, determining how and why people do what they do. His lifelong passion is providing insights and strategies that guide people to fulfill their purpose and achieve the success they’re seeking.
He is the creator of numerous innovative assessments that provide unique insights into people’s key strengths and signature styles leading to improved interpersonal understanding, communication and collaboration. The strategic applications of these assessments typically result in improved relationship dynamics as well as business breakthroughs achieved through optimizing leaders and their teams.
He is the founder/owner of PeoplePlusPurpose.com. He loves to speak, be interviewed, and interview others to share knowledge and serve people.
Find Matthew:
Email Matthew: DrNorton@PeoplePlusPurpose.com
Resources Mentioned:
The Ruthless Elimination of Hurry
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Wednesday Apr 05, 2023
EP 95: Mastering the Art of Financial Abundance with Eric Miller
Wednesday Apr 05, 2023
Wednesday Apr 05, 2023
Eric Miller joins us in episode 95. He is co-owner of Econologics Financial Advisors, and is the Chief Financial Advisor. Eric takes pride in helping proactive owners become the financial heroes of their own stories and has helped practice owners with money, investing, practice expansion, practice transitions, taxes, asset protection and much more, and he helps them shape their financial attitude toward abundance.
We talked at length about the mindset required for a practice owner to achieve the success they desire - which we are loosely defining as financial and time freedom in our conversation. I love speaking with business owners and service providers like Eric, because it’s so clear that he cares deeply about his clients, not only for their financial wellbeing, but for their whole life and business happiness.
We talked about different ways to shift the practice and really the whole business entity, toward a multiple streams of income powerhouse. Eric’s approach is to treat the practice as an investment, and as the main source for strong income, and encourages his clients to use their cash flow to invest in building other streams of income.
I know you hear me say this a lot, so I found it refreshing when Eric emphasized that as the practice owner, you’re wearing multiple hats of owner, executive and provider. It’s important for you to get clear on your vision, mission and culture, in order to achieve the financial and professional goals you’ve set for yourself. You need to ask yourself who you need to be in order to be successful on your terms.
Our conversation focused a lot on leadership, which needs to be a central focus for the practice owner.
Eric’s parting wisdom is:
- Make sure you treat the practice like an investment, not a job.
- Don't underestimate how much you need in assets and resources.
- Make sure to acknowledge your worth to the practice, and pay yourself correctly.
If you’re a practice owner and you’d like to learn how to build on your investment, I highly recommend you get in touch with Eric. His contact information is in the show notes.
So, grab a beverage or a snack and settle-in to listen to Eric and his sage wisdom.
Remember to save your seat for our upcoming roundtable discussion on burnout.
Join us at our upcoming Roundtable Discussion on Burnout.
Eric’s Bio:
Eric Miller is the Co-Owner of Econologics Financial Advisors and the Chief Financial Advisor. He takes pride in helping practice owners become the financial heroes of their own stories and has taken this passion to over 600 families in the past decade. During this time, he’s had over 15,000 conversations with practice owners regarding money, investing, practice expansion, practice transitions, taxes, asset protection, estate planning, and helping them shape their financial attitude toward abundance. Econologics Financial Advisors is an Inc. 5000 honoree for 2019 as one of the fastest growing companies in the US.
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Wednesday Mar 29, 2023
EP 94: REPLAY. The Silent Epidemic: BURNOUT with Tracy Cherpeski
Wednesday Mar 29, 2023
Wednesday Mar 29, 2023
Tracy is talking about Burnout today.
World Health Organization definition of Burnout:
“Burn-out is a syndrome conceptualized as resulting from chronic workplace stress that has not been successfully managed. It is characterized by three dimensions:
- feelings of energy depletion or exhaustion;
- increased mental distance from one’s job, or feelings of negativism or cynicism related to one's job; and
- reduced professional efficacy.
Burn-out refers specifically to phenomena in the occupational context and should not be applied to describe experiences in other areas of life.”
12 Stages of Burnout:
- Compulsion to prove oneself - demonstrating worth obsessively.
- Working hard - with an inability to switch off.
- Neglecting basic needs - lack of sleep, lack of healthy eating, lack of social interaction.
- Displacement of conflicts - problems are dismissed.
- Revision of values - values are skewed, friends and family dismissed, hobbies irrelevant.
- Denial of emerging problems - intolerance, perceiving collaborators as stupid, cynicism, aggression, problems are viewed as caused by work.
- Withdrawal - social life small or nonexistent, hard social contacts.
- Odd behavioral changes - changes in behavior obvious to friends and family.
- Depersonalization - seeing neither self nor others as valuable.
- Inner emptiness - feeling empty inside.
- Depression - feeling lost, exhausted and the future feels bleak and dark.
- Burnout syndrome - includes mental and physical collapse; medical attention required.
References for Burnout:
Entrepreneur article on Burnout
World Health Organization International Classification of Diseases
Bio:
Tracy Cherpeski, MBA, MA, CPSC, is an Executive Coach, Consultant, and Leadership Development specialist with over 20 years of experience. She is the go-to expert for private practice owners and their teams, teaching them how to optimize their time, master their mindset, and scale their practices. Tracy helps her clients take back their time and energy to start living a fulfilled life as a high-impact CEO. Tracy has shared her presentations with industry groups, non-profit organizations, government agencies, corporations, and associations.
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