Episode #221

20/20 Money Episode #221 – Rethinking your hiring process to reduce costs and increase per patient revenue with Ankit Patel

January 30, 2023

Welcome to this episode of 20/20 Money! My guest on today’s show is Ankit Patel. Ankit and I chat about how he and his wife have taken delegation and outsourcing in their practice to a whole new level by building part of their team overseas in the Philippines. We talk about their path through practice ownership and how they keep a pulse around their patient satisfaction. We also talk about their interview process and questions they ask, how they manage their team both stateside and overseas, impactful interview questions they ask, and the financial metrics that caused them to start looking for alternative solutions to their team. We then dive deep into the journey he’s been on building and managing a virtual team in the Philippines and the work they’ve started doing for other offices.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our newsletter and you can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Ankit Patel.

Start Planning Today

Don’t miss out on exclusive access to financial tips, strategies, and expert-led webinars. Subscribe to the “Planning Life, On Purpose” newsletter today and stay ahead of the planning curve!

Resources:

20/20 Money Community Information

Culture index

My business care team

FreePBX

8×8

Asana

EOS®

ScribeHow

Loom

Trainual

Topgrading (book)

Who (book)

Episode Transcript

Enjoy our content? Subscribe for regular updates!

Related Podcasts

Practice financing decoded: what owners need to know now about how banks think about deals

Thinking about buying or expanding a practice, but nervous about debt, banks, or making an expensive mistake? In today’s episode,…

  • Practice Management
How great practice owners build teams that stay and perform

What if the biggest threat to your practice isn’t reimbursement, competition, or overhead—but the way you hire, lead, and retain…

  • Practice Management
Don’t make these financial and business mistakes! (the talk I give at every optometry school’s private practice club)

The financial decisions you make early in your career can shape the next several decades—and most people don’t realize it…

  • Practice Management
Using EOS to Create Clarity and Traction in Your Practice with Tom Restivo

Ever wonder if, when, or how to build stronger operations within your practice? In this episode, I sit down with…

  • Practice Management
How a Limiting Mindset Can Cost Practice Owners More Than They Realize with Dr. Steve Vargo

In this episode I sit down with Dr. Steve Vargo to unpack a mindset that many practice owners quietly wrestle…

  • Practice Management
Independence vs Isolation in Private Practice with John Marvin

In this episode I sit down with John Marvin to explore a challenging but important idea for private practice owners:…