LIMITLESS Leaders Toolkit: Financial & Practice Strategy-WPS Symposium - Practice Management Panel

WPS Symposium - Practice Management Panel | LIMITLESS Leaders Edition: S14 Ep67

Video Transcription

Video Summary

This podcast episode from the ASPS Women Plastic Surgeons Forum focused on practice management pearls from the WPS Symposium.  <br /><br />Dr. Janelle Wagner discussed financial health, emphasizing that surgeons must regularly look at their money to build good habits. She recommended reviewing finances monthly using a simple routine: address mindset “mind trash,” check cash flow, investments, debt, and net worth, and avoid overly detailed expense tracking. She advised residents to start paying federal loans early, use income-based repayment when appropriate, and begin investing small amounts early because time is their biggest asset. She also stressed choosing financial advisors carefully and understanding how they are paid.  <br /><br />Dr. Mary Jen Brass covered hiring, firing, and employee management. She stressed clear job descriptions, expectations, probationary periods, annual evaluations, and quick action when someone is not a good fit. She also highlighted the value of a PEO for payroll, HR, benefits, and health insurance access.  <br /><br />Dr. Heather Furness discussed building and owning an OR, explaining that it requires major planning, the right consultants, and careful decisions about certification, staffing, and whether outside surgeons will use the facility. Her key advice: don’t build an OR unless it truly fits your practice model.

Keywords

practice management

financial health

employee management

operating room ownership

medical practice

financial advisors

women plastic surgeons

resident loans

PEO

plastic surgery practice

hiring and firing

practice growth