Episode 338: How to Free Up Time and Boost Your Practice's Profit

Practice Acceleration Podcast

Many practice owners don’t realize how much their time is worth, which leads them to perform tasks that reduce their financial impact

In this episode, Tristan and Dave guide listeners through the process of auditing their activities, identifying low-value tasks, and freeing up time to focus on higher-impact work.

Here are the key takeaways from the episode:

1. Discover Your True Hourly Rate: Most practice owners overestimate their hourly worth. By calculating their actual earnings and hours worked, many discover they are earning far less than they think.

2. Audit Your Activities: Identify the tasks you're doing that don't contribute significantly to your financial impact. Many business owners spend time on low-value, functional tasks that can be outsourced.

3. Outsource Low-Value Tasks: By delegating or outsourcing tasks that fall below your hourly value, you can focus on high-impact activities that generate more revenue and growth for your practice.

4. Move from Functional to Vital: Practice owners often get bogged down in day-to-day operations. Shifting from functional tasks to vital, strategic tasks is essential for scaling your business.

5. Task Arbitrage: By outsourcing lower-value tasks at a lower rate, you can spend your time on tasks that generate much higher returns, creating more time and financial freedom.

This episode is a wake-up call for practice owners to re-evaluate how they spend their time and ensure they're maximizing their value in their business.

P.S. If you want to learn more on how to scale your healthcare practice, chat with one of our expert coaches at https://practiceacceleration.com/application and see how we can help you!

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