Financial management serves as the backbone of a sustainable practice, directly impacting your ability to deliver quality care and maintain work-life balance. Our panel of experienced practice owners shares personal journeys from financial struggle to strategic success, revealing practical wisdom gained over decades in business.

• Building financial awareness requires making money management a front-of-mind priority
• Healthcare providers often excel clinically but struggle with business aspects due to lack of training
• Understanding the difference between profitability and cash flow is crucial for practice sustainability
• Surrounding yourself with specialized financial advisors is an investment, not merely an expense
• Knowing your break-even point helps you make strategic decisions rather than reactive ones
• Regular financial check-ins (weekly/monthly) prevent year-end surprises and enable proactive planning
• Normalized financials are essential for practice valuation and eventual transition planning
• Proper fee setting ensures fair compensation while maintaining value for patients
• Reading and understanding financial statements gives you control over your practice's future
• Creating separate business and personal accounts establishes clear financial boundaries

Join us in the next episode as we explore the fourth pillar of practice success: keeping your staff.