Ep. 56: Leading a successful practice with Zed Williamson of Physician Growth Accelerator

Zed Williamson, founder and CEO of Physician Growth Accelerator, joins the show to talk about common challenges physicians face in private practice, explaining how to manage a successful practice without sacrificing patient care. For more from Zed and his team, check out the Physician Growth Accelerator website, podcast, and YouTube channel.

Plus, starting this Wednesday, March 19, find new episodes of the Physician Growth Accelerator podcast at MedicalEconomics.com and PhysiciansPractice.com.

Don't miss our previous episodes on selling a practice, Medicare cuts, practice employee safety, and private equity and hospital consolidation.

Also, be sure to check out Medical Economics Pulse, a quick-hitting news podcast that keeps busy physicians in the know.

Music Credits:
Acoustic Chill by Lorenzoangelucci/MusicRevolution - stock.adobe.com
Relaxing Lounge by Classy Call me Man - stock.adobe.com
COCKTAIL by Mythical Audio - stock.adobe.com

Editor's note: Episode timestamps and transcript produced using AI tools.

Introduction to Burnout (00:00:00)
Discusses the misconception that burnout stems from busyness, emphasizing the emotional aspect instead.

Podcast Introduction (00:00:19)
Austin Littrell introduces the podcast and the guest speakers, setting the stage for the discussion.

Overview of Physician Growth Accelerator (00:01:05)
Zed Williamson explains the mission of his company and its focus on improving private practices.

Challenges in Private Practices (00:01:12)
Details the variability in outcomes among practices despite similar inputs, highlighting internal constraints.

Consulting Philosophy (00:02:26)
Zed describes the "do it with you" approach to consulting, emphasizing collaboration over mere advice.

Importance of Clinical Excellence (00:04:10)
Stresses that clinical excellence must be the primary focus of medical practices for patient trust.

Business vs. Patient Care Mindset (00:04:23)
Explains the need for physicians to shift their mindset from treating business issues like patient problems.

Cultural Foundations of Practice (00:07:01)
Discusses the significance of a supportive culture in practices and its impact on performance.

Creating a Supportive Culture (00:07:21)
Explores how to intentionally drive a practice's culture to align with its goals and values.

Revenue Cycle Management (00:09:22)
Highlights the importance of understanding the lifetime value of patients for better financial forecasting.

Managing Administrative Burdens (00:12:35)
Offers strategies for practices to proactively manage administrative tasks and reduce burdens.

Approaching Technology (00:14:48)
Discusses the double-edged sword of technology in practices and the importance of strategic implementation.

Shifting Mindsets for Business Success (00:18:19)
Encourages physicians to adapt their thinking to balance clinical practice and business management effectively.

Identifying the Destination (00:20:36)
Discusses the importance of setting measurable goals to guide physicians in their practice.

Addressing Physician Burnout (00:24:01)
Explores the causes of burnout and emphasizes rekindling passion for work to alleviate stress.

Creating a Better Work Environment (00:25:13)
Suggests ways to improve the working conditions for private practice physicians and reduce anxiety.