Hello and welcome to the very first episode of the Cash Practice Solution Podcast. I’m your host, Dr. J, and I am thrilled to have you with me today. I’m an osteopathic family physician in Southlake, Texas, running a successful regenerative cash practice for over 30 years. I found that a cash practice enables me to take amazing care of my patients, the best possible medical care at my disposal without any interference.
When patients are faced with difficult decisions, they ask, “Doc, if it was your mom or your daughter, what would you do?” I want to be able to say the same exact thing I’m recommending for you. I want this podcast to make it easy for patients to have that kind of connection with their family doctor. Cash practice makes that possible.
So, if you feel like you’re ready to launch into a cash practice, you need to check out our cash practice scorecard. It’ll help you decide whether you’re ready to make the switch, based on our experience with practices all over the U.S.. It’s linked in the description and you can find it at https://cashpracticesolution.com.
The Number One Obstacle Preventing Doctors from Transitioning to a Cash-Based Practice
This week we’ll explore the Number One obstacle preventing doctors from transitioning to a cash-based practice. You probably don’t want to hear it. It’s fear—that overwhelming, gut-wrenching fear of stepping away from the security of third-party payers (I don’t think that’s secure, by the way), and venturing into the world of independent, cash-based practice.
Now, if you’re listening to this, you’ve probably had thoughts about leaving the insurance game behind and working directly with your patients – just you, your expertise, and the care you can provide. But something’s holding you back, right? Well, that something is fear. And today we’re going to tackle it head-on. There’s a quote from the Dune movie that has resonated with me since I was a teenager, when I read the book, and it stuck with me. The quote states, “Fear is the mind-killer. Fear is that little death that brings obliteration.” It’s kind of like “death by a thousand cuts,” and when it comes to doctors, switching from the familiar insurance model to cash practice – this couldn’t be more true.
Fear has a way of paralyzing us, keeping us stuck in a system that’s robbing us – robbing us of our joy, peace, and really – financial freedom and success. But at the end of that quote, our hero, Paul Atreides, comes to the key of our conversation and says, “I will overcome my fear,” and that’s my goal for you today.
The Fun of Conquering Fear
To help you get to a place where you can say with confidence, “I can do this! I’m not stuck! I can make the leap to a cash practice”. But I’ll be real with you, it just doesn’t happen automatically. You need a reason to face your fears, to push past them. Think back to when you were a kid. Maybe you were terrified of rollercoasters – but once you got on, the thrill made it all worth it. The fear – it turned into something fun. Now, medicine isn’t nearly as straightforward as a rollercoaster (and usually not as fun), but the same principle applies.
Take bungee jumping – as an adult, my wife and I went to one of these crazy places in Vegas where you can jump off a tower. Now, I wasn’t scared. I was kind of excited. But she, who is usually a stud, she’s fearless. She was terrified. I didn’t know it, but she was so tense that after we finished, she literally fell asleep at the dinner table in a Mexican restaurant. She wasn’t face-down in the beans, but it was close. She had so much stress. It just wore her out, but she faced her fear. She did the jump, and afterward, we cracked up. It was so much fun, and we laughed and laughed. This is like that. Now, starting a cash practice might not involve bungee cords, but it does involve a leap, and it can be quite a big one.
The Perseverance of Conquering Fear
Sometimes the only way to make that leap is when you absolutely have to. I went to Costa Rica one time with my wonderful wife, where we had to drive through water. It was the end of the rainy season and the rivers were flooded. So, to get to our place, we had to drive through some flooded rivers. Now, everybody knows – no one with any sense drives through a rushing river. But, Costa Ricans do it all the time, because that’s their life. It’s no big deal for them. But, I was nervous. I was kind of petrified, actually – I’m not going to do it. But, if we wanted to get there, I had to do something. So, I had to push through the fear. I watched the locals, and in my halting Spanish, I said, “What do I do, what do I do?” And they said, “Come on, come on”. So I followed their path, precisely. From high point, to high point, to high point, and drove my car, and wove it through that rushing river. We made it, and it was a blast – actually, kind of changed my mind about rushing rivers. I’m not going to drive through them without any Costa Ricans, but it changed my mind.
So in the same way I’m here to guide you along the path to cash practice success. I’ve been there, I’ve faced the challenges and I’ve come out on the other side – intact. I want to help you do the same
The Duty of Conquering Fear
Okay, now let’s shift gears a little bit. Have you ever seen the movie Hacksaw Ridge? It’s about an army medic who, incredibly courageous, and out of a sense of duty, climbs a mountain face, where this incredible Japanese enemy fire is just withering, he goes up there, and he saves his fellow soldiers. Well, why? Because it was his duty, and he was determined to serve his country and his comrades and save their lives.
As doctors, we all know what duty feels like. We’ve all had moments where fear could have stopped us, but we push through for the sake of our patients. I remember the first time I had to intubate a cyanotic patient and there was no one else there to do it – ER, nighttime, just me. And let me tell you, every fiber of my being was screaming in fear. But, I did it. The patient survived. And since that first one, every intubation has gotten easier. The point is – fear can drive us, but it doesn’t have to paralyze us. And in the world of cash practice, that’s critical.
When you make the leap to a cash-based practice, you’re taking control. No third-party administrators are telling you what you can and can’t do. You and your patient make the decisions – no one else. That can be scary, but it’s also incredibly liberating. So how did I get here? How did I, a once fearful doctor, embrace the world of cash practice?
The Survival of Conquering Fear
Well, it wasn’t a straightforward journey, and it wasn’t without its bumps. As part of my family practice faculty work, I taught at the medical school, I started a house call service. I thought it’d be a great way for residents to learn geriatrics, and it was great. We took care of homebound elderly patients and probably saved the system millions of dollars literally in ambulance rides and hospitalization, and I felt deeply fulfilled (and our patients, of course, loved it). But, Medicare didn’t see it that way because they couldn’t believe a physician was actually doing house calls. So, Medicare hassled me so relentlessly that I chose to opt out of Medicare altogether and that was around 1990. That decision was a turning point for me. It wasn’t easy, but it was necessary.
A few years later, I discovered functional medicine, but insurance companies (as you might know), don’t cover the tests or treatments in that specialized world that my patients needed. So, I wound up spending more time fighting insurance companies to cover tests and treatments than I spent taking care of patients. I spent a lot of time on the phone and with paperwork and stuff that really got me so frustrated that I finally said, “Enough. No more insurance. No third-party interference”.
I went cash-only and I haven’t looked back since. And you know what – It was the best decision I’ve ever made. Now, I know what you’re thinking – “Dr. J., That sounds great. How can I do it?” I’m here to tell you, “You can!” I’ve helped countless doctors make the switch and every one of them has found success. There are no exceptions – Everyone who made the switch is happy that they did. Every one of them has succeeded. The ones who couldn’t overcome their fear though – they’re still stuck. They’re still struggling in the system. I see them at meetings and they have the same story over and over and over again.
So, if you’re ready to make the leap (if you’re ready to truly serve your patients the way you know is best), it’s time to face your fear and go cash. We’ve got the resources you need to help you get started… Podcasts like this one [our introductory one], white papers, and technology tips. Just visit us at https://CashPracticeSolution.com, and we’ll guide you every step of the way.
And if you want to maximize a cash practice you’re already in, or start out on the right foot in a new practice, you need to check out our cash practice scorecard. It’ll help you make all the right decisions from the beginning. It’s linked in the description at https://CashPracticeSolution.com.
Thanks for tuning in to this introductory episode of the Cash Practice Solution. I’m Dr. J. I can’t tell you how excited I am to bring you more insights, stories, and strategies in future episodes. Whether you’re a doctor ready to make the leap, or a patient who’s interested in the highest quality care possible, stay tuned.
Next week we’ll show you how to switch tracks and avoid what I’m calling the Medicare slow-motion train wreck. You know that cringey moment where you know it’s coming? It’s coming. So, let’s eliminate our fears with facts here at the Cash Practice Solution Podcast. Thanks for listening.
