Navigating Out-of-Network Private Practice with Kristin Mallon
In a revealing episode of "Practice Care," hosted by Carl White of Mark Advisory Group, we delve deep into the world of maintaining a successful out-of-network private practice with expert insights from Kristin Mallon, CEO and co-founder of FemGevity Health. With a rich background as a board-certified nurse midwife and a pioneer in the fields of menopause, feminine longevity, and breast health, Kristin brings to the table a wealth of knowledge derived from her diverse educational journey through UC Berkeley, Johns Hopkins, and NYU, and her hands-on experience in private practice.
Episode Highlights:
- Kristin's Unique Path: Kristin's journey from aspiring to practice traditional medicine to embracing midwifery offers a fresh perspective on patient care, emphasizing wellness over illness and introducing the significance of business acumen in healthcare.
- Positioning an Out-of-Network Practice: Kristin shares innovative strategies for positioning and promoting an out-of-network practice to patients. She emphasizes the importance of not pre-judging patient decisions based on cost and highlights the potential benefits and personalized care available in out-of-network settings.
- Overcoming Objections: Handling objections is part of the process, and Kristin provides insights on educating patients about the real differences in costs and the unparalleled quality of care offered by private practices like FemGevity Health.
- Educating and Empowering Staff: A crucial aspect of Kristin's success is her focus on educating her team about sales processes and customer service excellence, ensuring that every patient interaction is personalized and informative.
- Leveraging Business Resources: Kristin advocates for utilizing business coaches, virtual assistants, and outsourcing to streamline processes and improve patient experiences, allowing clinicians to focus on what they do best - patient care.
- The Future of Private Practice: With a firm belief in the viability and necessity of private practices remaining independent, Kristin encourages healthcare providers to consider out-of-network options as a means to offer superior care and maintain autonomy in clinical decisions.
Key Takeaways:
- Innovative Practice Management: The journey from in-network to out-of-network doesn't have to be daunting. With the right strategies and support, healthcare providers can create a thriving practice that prioritizes patient care and personal satisfaction.
- Patient Education and Transparency: Effective communication and transparency about the benefits and costs associated with out-of-network care are essential in overcoming objections and building trust with potential patients.
- Investing in Staff Development: Training staff to handle inquiries with a sales-oriented approach can significantly enhance patient engagement and satisfaction, setting the foundation for a successful practice.
- Exploring Business Solutions: Utilizing available resources, from coaching to outsourcing, can alleviate administrative burdens and optimize operations, ensuring that healthcare providers can focus on delivering exceptional care.
Learn More and Connect:
To discover more about Kristin Mallon's groundbreaking work in women's health and her innovative approach to private practice management, visit FemGevity Health. For those inspired by Kristin's insights and considering the transition to an out-of-network model, this episode offers a wealth of knowledge and encouragement to take the first steps towards a more fulfilling practice.