Audiology Mastery: How to Build Your Dream Practice

Feeling perplexed by the business side of the hearing industry? First-timers may feel confused about making partnerships work, while experienced practice owners might feel lost in managing a growing practice. Dr. Amit Gosalia, a seasoned and business-savvy audiologist, has been through it all, from buying and exponentially growing a practice to selling it at a good price. In this episode, he shares his top strategies for building a successful practice, highlights challenges in managing growth, and discusses the art of fostering long-lasting relationships with patients.  Dr. Amit Gosalia is a business-savvy audiologist who has extensive experience running successful private practices. He has held leadership roles in audiology organizations and has received accolades from the American Academy of Audiology. He is also the co-founder of AudBoss, an online community for private practice owners. In this episode, Kevin and Amit will discuss: - His journey to buying his first private practice - How he tripled the revenue at his first practice - His ‘SMART Ear Goals’ approach for laying out practice goals  - The importance of tracking KPIs - The impressive ROI from building relationships with physicians - His diversification strategy for staying busy independent of third-party payers  - Fostering interprofessional collaborations for referrals - How to clearly define roles and responsibilities in a partnership - His challenges in managing a growing practice - His advice for struggling practices - Breaking down patient anxiety - His personable approach to patient care that results in 5-star reviews - The lost art of bedside manner - Why the lab coat is such a bad thing - And other topics… Dr. Amit Gosalia is an audiologist specializing in hearing loss and tinnitus at West Valley Hearing Center in Los Angeles. He previously ran Audiology Clinic, Inc. in Vancouver, where he experienced significant growth before selling the practice in 2017. Known for his commitment to patient care, he holds a board certification in Audiology and has received accolades from the American Academy of Audiology. He has held leadership roles in audiology organizations and has actively contributed to non-profits. He is also the co-founder of AudBoss, an online community for private practice owners. Connect with Amit: Amit’s Website: https://www.drgosalia.com/  Amit’s LinkedIn: https://www.linkedin.com/in/amitgosalia/  The Only Thing: If you’re an audiologist and want to grow your practice – we’ve got a FREE, expert guide to help you achieve your goals. It’s called The Only Thing.  This expert guide will show you how to increase new patient calls by 5 to 57 a month, schedule more new patients each week, help more people, and increase revenue. It’s the best resource I know for growing your audiology practice. Get your copy for free at http://medpb.com/mastery.

Madison Levine, the owner of Levine Hearing, rapidly grew a successful practice by leveraging the power of video. In this episode, she sheds light on her patient-centric approach and shares her strategies for growing her practice with effective video marketing. Madison Levine is the founder of Levine Hearing, an independent provider offering hearing and balance services. She manages a diverse business portfolio in healthcare and marketing, including a production company, Integrate Ideas. Actively involved in hearing healthcare advocacy, she is a board member at the Levine Senior Center and dedicates time to educating on hearing loss in local eldercare facilities.   In this episode, Kevin and Madison will discuss: - How she grew her practice quickly with video  - Efficient video marketing  - The value of regular structured meetings - Her approach to hiring the right people for her practice - Strategies for minimizing employee turnover - Her playbook for delivering a five-star patient experience - The biggest hurdle for practices starting now  - Her best-kept secret for bringing more people through the door - Her data-led approach to social media marketing  - Content optimization for different platforms and audiences  - Her method for fostering a positive work culture  - And other topics… Madison Levine is a second-generation hearing instrument specialist, serial entrepreneur, and social media influencer. She is the founder of Levine Hearing, an independent provider offering hearing and balance services with over 200 five-star Google reviews and an A+ rating from the Better Business Bureau. Madison manages a diverse business portfolio in healthcare and marketing, including a production company, Integrate Ideas. She is actively engaged in Listen Carefully, a national program advocating for hearing healthcare, and serves as a board member for the Levine Senior Center. Madison also dedicates time to educating on hearing loss and hearing aids in local eldercare facilities. Connect with Madison: Madison’s Website: https://levinehearing.com/  Madison’s LinkedIn: https://www.linkedin.com/in/madison-levine-2b961317/  Madison’s Email Addresses: madison@integrateideas.com, madison@levinehearing.com  Resources Mentioned: Death by Meeting: A Leadership Fable...About Solving the Most Painful Problem in Business by Patrick Lencioni: https://www.amazon.com/Death-Meeting-Leadership-Solving-Business/dp/0787968056  Extreme Ownership: How U.S. Navy SEALs Lead and Win by Jocko Willink: https://www.amazon.com/Extreme-Ownership-U-S-Navy-SEALs/dp/1250183863  Selling with Noble Purpose: How to Drive Revenue and Do Work That Makes You Proud by Lisa Earle McLeod: https://www.amazon.com/Selling-Noble-Purpose-Drive-Revenue/dp/1118408098  The Only Thing: If you’re an audiologist and want to grow your practice – we’ve got a FREE, expert guide to help you achieve your goals. It’s called The Only Thing. This expert guide will show you how to increase new patient calls by 5 to 57 a month, schedule more new patients each week, help more people, and increase revenue. It’s the best resource I know for growing your audiology practice. Get your copy for free at http://medpb.com/mastery.

What if your practice isn’t worth what you think? Jesse Aldous often has to ask this question. He is an experienced acquisitions advisor and former practice owner with 14 years of experience and two successful exits under his belt. In this episode, Jesse shares key strategies for growing a practice exponentially and breaks down what it takes to achieve higher valuations.  Jesse Aldous is a former audiology practice owner and a seasoned broker. With experience transforming small practices into high-revenue ventures, he guides audiologists in valuing their practices for successful exits.   In this episode, Kevin and Jesse will discuss: - His experience growing small clinics exponentially - His journey from private practice owner to acquisitions expert - Mistakes costing practices higher valuations  - The numbers that affect a valuation - The benefits of a strong marketing campaign - Metrics for measuring practice success - Why practice owners should not be afraid to spend on marketing - Why practices are losing patients - The power of database marketing - Steps to selling a practice - Why practice valuations are low - Goal setting as a tool for practice growth - Why he’s optimistic about the industry - And other topics…   Jesse Aldous is a former audiology practice owner, independent broker, and business coach who has over 14 years of experience in the hearing industry. He specialized in identifying and growing small audiology practices, turning them into high-revenue ventures. Experienced in business development and acquisitions, he sold his multi-location retail operation and served as Vice President for a large private group. As an independent broker and business coach, Jesse leverages his extensive experience to guide practice owners, helping them appropriately value their practices and navigate successful exits.    Resources Mentioned: Jesse’s Website: https://www.audiologyacquisition.com/  Jesse’s LinkedIn: https://www.linkedin.com/in/jesse-aldous-91b1a39/  The Peter Principle: Why Things Always Go Wrong by Raymond Hull and Dr. Laurence J. Peter: https://www.amazon.com/The-Peter-Principle/dp The 10X Rule: The Only Difference Between Success and Failure by Grant Cardone: https://www.amazon.com/10X-Rule-Difference-Between-Success/dp/0470627603  Bristol Group Business Brokers and Merger and Acquisition Advisors: https://www.bristolgrouponline.com/  THE ONLY THING If you’re an audiologist who wants to grow your practice – we’ve got a FREE, expert guide to help you achieve your goals. It’s called The Only Thing. This expert guide will show you how to increase new patient calls by 5 to 57 a month, schedule more new patients each week, help more people, and increase revenue. It’s the best resource I know for growing your audiology practice. Get your copy for free at http://medpb.com/mastery.

Are you losing patients to competitors with the latest tech? Staying on top of changing market dynamics can feel like trying to outrun a speeding train. To keep up, practice owners need a clear strategy to ensure growth and sustainability. Gary Rosenblum, President of Oticon, excels in driving innovation in the hearing care industry. In this episode, he offers insights gleaned from his extensive experience working with practices nationwide and shares proven strategies for how audiologists and hearing instrument specialists can set their practices apart and keep up in an ever-evolving marketplace. Gary Rosenblum has been President of Oticon since October 2016, driving forward the company’s leadership in innovation, product quality, and customer support. Before joining Oticon, he led medical device and consumer healthcare ventures for Fortune 500 companies like Johnson & Johnson, Abbott Labs, and Pfizer. Starting his career in consumer healthcare, he now boasts 16 years of experience in the medical devices industry. In this episode, Kevin and Gary will discuss: - The current challenges for audiology and hearing aid practice owners  - The future of audiology and hearing aid practices - The KPIs driving success for audiology practices - Strategies for maximizing your practice’s profitability - How to set your practice apart with the concierge approach - Oticon’s approach to product development - Gary’s advice for keeping up with the latest hearing aid technologies - Strategies for growth and sustainability  - Lead generation through community building - Oticon’s initiatives for supporting practice owners  - How Oticon retains top talent - The promising future of the hearing aid industry - And other topics… Gary Rosenblum is the President of Oticon, a division of Demant, a leading name in hearing healthcare. Before joining Oticon, he led various medical device and consumer healthcare ventures for Fortune 500 companies such as Johnson & Johnson, Abbott Labs, and Pfizer. As Vice President at Johnson & Johnson, he managed medical devices, pharmaceuticals, and consumer products for hospital systems on the West Coast. Although he has accumulated 16 years of experience in the medical devices industry, he launched his career in consumer healthcare. Gary formerly served as Chairman of the Hearing Industries Association.  Resources Mentioned: Gary’s LinkedIn: https://www.linkedin.com/in/gary-rosenblum-a682494/  The Hearing Journal: https://journals.lww.com/thehearingjournal/pages/default.aspx  The Hearing Review: https://hearingreview.com/  Oticon Business Enhancement Support PLUS (BES+) Rewards Program: https://www.oticon.com/professionals/besplus-form  Selling with Noble Purpose: How to Drive Revenue and Do Work That Makes You Proud by Lisa Earle McLeod: https://www.amazon.com/Selling-Noble-Purpose-Drive-Revenue/dp/ THE ONLY THING If you’re an audiologist who wants to grow your practice – we’ve got a FREE, expert guide to help you achieve your goals. It’s called The Only Thing. This expert guide will show you how to increase new patient calls by 5 to 57 a month, schedule more new patients each week, help more people, and increase revenue. It’s the best resource I know for growing your audiology practice. Get your copy for free at http://medpb.com/mastery.

Running an audiology or hearing aid practice naturally involves navigating financial pressures. Yet, practice owners must be careful not to get caught up in crunching numbers at the expense of their passion for helping others hear better. Lisa Earle McLeod, the creator of the ‘noble purpose’ philosophy, advocates for a different approach that places purpose above metrics. She demonstrates that practices focusing on their noble purpose outperform the competition and retain patients. In this episode, Lisa delves deeper into this concept, offering actionable insights for establishing a thriving practice driven by purpose. Lisa Earle McLeod is a strategy consultant, executive coach, and keynote speaker known for her Noble Purpose philosophy. Ranked #3 Sales Expert globally by Global Gurus and listed among Marshall Goldsmith's 100 Coaches, she has worked with clients like Salesforce, Google, LinkedIn, Hootsuite, and Volvo. She is an accomplished author of five books, including the bestseller, Selling with Noble Purpose. In this episode, Kevin and Lisa will discuss: - Why you need a noble purpose mindset - How to define your practice’s noble purpose - Storytelling techniques to fearlessly offer patients life-changing solutions - The mindset of top-performing practitioners - Best practices for creating an engaging patient experience - The differences between transactional practices and noble purpose practices - Scaling through tough times with patient impact stories - Strategies for improving employee engagement - Interview questions for hiring employees who will carry your purpose - Lisa’s technique for realigning with your true north - How to create a noble sales purpose for your practice - And other topics… Lisa Earle McLeod is a strategy consultant, executive coach, and keynote speaker who has worked with notable clients like Salesforce, Google, and Volvo. With experience in sales leadership at Procter & Gamble and Vital Learning, she's recognized globally as a top thought leader and coach, named to Marshall Goldsmith's 100 Coaches, and ranked #3 Sales Expert by Global Gurus. She is an accomplished author of five books, including the bestseller, Selling with Noble Purpose, and contributes regularly to publications such as The Harvard Business Review, Forbes, and LinkedIn Learning.   Resources Mentioned: Lisa’s Website: https://www.mcleodandmore.com/  Lisa’s LinkedIn: https://www.linkedin.com/in/lisaearlemcleod  Lisa’s Book, Selling with Noble Purpose: How to Drive Revenue and Do Work That Makes You Proud: https://www.amazon.com/Selling-Noble-Purpose-Drive-Revenue/dp/  THE ONLY THING If you’re an audiologist who wants to grow your practice – we’ve got a FREE, expert guide to help you achieve your goals. It’s called The Only Thing. This expert guide will show you how to increase new patient calls by 5 to 57 a month, schedule more new patients each week, help more people, and increase revenue. It’s the best resource I know for growing your audiology practice. Get your copy for free at http://medpb.com/mastery.

Recent changes in Audiology have left many practice owners struggling to grow. With 3rd party payers becoming more prevalent and reimbursements going down, getting enough people through the door to grow your practice is more challenging than ever before. This podcast is designed to provide you with the resources you need to grow your practice. Host Kevin St.Clergy has been helping audiology and hearing aid practice owners grow for over 25 years. Having helped thousands of audiologists through his talks, books, and coaching programs, Kevin has discovered what works and what doesn't work from the best practices in the world.  Subscribe to Audiology Mastery to learn how to increase revenue, improve patient and employee satisfaction, and build a practice that provides for your life without consuming your life. Growing your practice does not have to be a mystery. This podcast will show you how.