STRATEGY | COACHING | ACCOUNTING | BOOKKEEPING
FOR INTEGRATIVE CLINICS
“WHY IS RUNNING MY CLINIC RUNNING ME TO THE GROUND?”
Book a call to discuss sustainable
growth strategies
STRATEGY | COACHING | ACCOUNTING | BOOKKEEPING
FOR INTEGRATIVE CLINICS
“WHY IS RUNNING MY CLINIC RUNNING ME TO THE GROUND?”
Book a call to discuss sustainable
growth strategies
THE BUSINESS SIDE OF HEALTHCARE
Why does the business and money side of the practice
have to be so hard?
> Does trying to understand finances feel confusing or overwhelming?
> Do you struggle to keep your bookkeeping up to date?
> Does your bookkeeper/accountant fail to respond to you in a timely manner, complete their work in a timely manner, or to help you actually understand your financials?
> Does it seem like no matter how hard you work, it doesn’t seem to create meaningful results for you financially?
Clinic owners I talk to often feel like a hamster on a wheel, running and running, but not getting anywhere.
The hamster metaphor communicates the fatigue and overwhelm of this predicament. And then there’s the confusion of deciding what would be the best use of your efforts.
Perhaps you find yourself scrambling to put out fires, unable to make any real forward progress.
Perhaps you’re investing time and money into marketing and you don’t have a clear way to track whether you’re actually getting a return on your investment.
Or you’re working like crazy and your business is making money, but you have no idea why there is so little cash left in your bank account when you check at the end of the week or end of the month.
You might be working very hard, and still not able to even pay yourself adequately.
This is why getting strategic, setting the right goals, and effectively tracking progress are so important. And just as labs help you as a clinician track progress with your patients, having good financial data and understanding what your numbers mean (i.e. financial literacy) are what help you get off the hamster wheel.
Here are just a few of the key numbers you need to be tracking in your business on a monthly (if not weekly) basis:
Gross Revenue
Total Expenses
Net Profit
(also measuring as a % of revenue)
Owner Pay
Labor Expense
(measuring as a % of revenue) if you have a team
Net Cash Flow
(especially if you are financing equipment or paying off loans)
If you’re not tracking the pulse of these numbers in your business, it’s a bit like driving in the night with just your fog lights on - it’s difficult to see what’s coming.
These numbers are telling an important story about your business.
Financial literacy is the ability to understand what that story means to make better decisions.
THE BUSINESS SIDE OF HEALTHCARE
Why does the business and money side of the practice have
to be so hard?
> Does trying to understand finances feel confusing or overwhelming?
> Do you struggle to keep your bookkeeping up to date?
> Does your bookkeeper/accountant fail to respond to you in a timely manner, complete their work in a timely manner, or to help you actually understand your financials?
> Does it seem like no matter how hard you work, it doesn’t seem to create meaningful results for you financially?
Clinic owners I talk to often feel like a hamster on a wheel, running and running, but not getting anywhere.
The hamster metaphor communicates the fatigue and overwhelm of this predicament. And then there’s the confusion of deciding what would be the best use of your efforts.
Perhaps you find yourself scrambling to put out fires, unable to make any real forward progress.
Perhaps you’re investing time and money into marketing and you don’t have a clear way to track whether you’re actually getting a return on your investment.
Or you’re working like crazy and your business is making money, but you have no idea why there is so little cash left in your bank account when you check at the end of the week or end of the month.
You might be working very hard, and still not able to even pay yourself adequately.
This is why getting strategic, setting the right goals, and effectively tracking progress are so important. And just as labs help you as a clinician track progress with your patients, having good financial data and understanding what your numbers mean (i.e. financial literacy) are what help you get off the hamster wheel.
Here are just a few of the key numbers you need to be tracking in your business on a monthly (if not weekly) basis:
✓ Gross Revenue
✓ Total Expenses
✓ Net Profit
(also measuring as a % of revenue)
✓ Owner Pay
✓ Labor Expense
(measuring as a % of revenue) if you have a team
✓ Net Cash Flow
(especially if you are financing equipment or paying off loans)
If you’re not tracking the pulse of these numbers in your business, it’s a bit like driving in the night with just your fog lights on - it’s difficult to see what’s coming.
These numbers are telling an important story about your business.
Financial literacy is the ability to understand what that story means to make better decisions.
THE DEEPER SIDE OF MONEY
We live in a money-driven society, and many of us see its failings. Yet money touches almost every aspect of our lives in some way. Money provides support for meeting both basic needs and higher-order needs. The images below provide a visual for this interdependence:
Recent evidence has revealed that Mazlow’s hierarchy of needs was largely informed by his encounters with the Blackfoot Nation. With that named, perhaps we can agree that basic needs must be met in order to pursue finer forms of fulfillment in life.
Even in the ancient traditions of yoga, earning a livelihood that financially sustains one’s lifestyle ("artha" is the Sanskrit word used in the yoga tradition) is recognized as integral to living a balanced and fulfilled life (although it may be noted that the definition of ‘needs’ can vary greatly from a simple yogi to a modern householder). But at its core, money and fulfillment are really about meeting varying orders of ‘needs’, are they not?
If one’s financial foundation is deficient, there can be noticeable impacts not only on meeting your basic needs, but also having the bandwidth to pursue purpose and/or Higher Calling in life.
Viewed in this light, financial well-being can be seen as having its rightful place in living a fulfilled life. And in this view, your business becomes a vehicle for carrying out your most important (and perhaps sacred) work in this world.
Feel proud not just to be a great clinician,
but also run a successful, fulfilling practice.
THE DEEPER SIDE OF MONEY
We live in a money-driven society, and many of us see its failings. Yet money touches almost every aspect of our lives in some way. Money provides support for meeting both basic needs and higher-order needs. The images below provide a visual for this interdependence:
Recent evidence has revealed that Mazlow’s hierarchy of needs was largely informed by his encounters with the Blackfoot Nation. With that named, perhaps we can agree that basic needs must be met in order to pursue finer forms of fulfillment in life.
Even in the ancient traditions of yoga, earning a livelihood that financially sustains one’s lifestyle ("artha" is the Sanskrit word used in the yoga tradition) is recognized as integral to living a balanced and fulfilled life (although it may be noted that the definition of ‘needs’ can vary greatly from a simple yogi to a modern householder). But at its core, money and fulfillment are really about meeting varying orders of ‘needs’, are they not?
If one’s financial foundation is deficient, there can be noticeable impacts not only on meeting your basic needs, but also having the bandwidth to pursue purpose and/or Higher Calling in life.
Viewed in this light, financial well-being can be seen as having its rightful place in living a fulfilled life. And in this view, your business becomes a vehicle for carrying out your most important (and perhaps sacred) work in this world.
Feel proud not just to be a great clinician, but also run a successful, fulfilling practice.
HOW I SERVE
Great Coaching, Great Accounting
Why coaching and accounting?
Coaching fosters transformation.
Accounting and bookkeeping allow us to measure the transformation in your business.
BOOKKEEPING
What it is:
I will handle your business transactions through accounting software (either Quickbooks Online or Xero) to produce clean financial reports on a monthly basis and meet with you quarterly to review your reports (monthly meeting options available).
This may be for you if…
You run an established clinic or solo practice, and you want clean books along with a clear understanding of your financials.
or…
You're new in practice and want to make sure you have your finances in order from the get-go, guided by an experienced financial professional and business coach.
Starting at $250/month
STRATEGIC ADVISORY
What it is:
I will help you clarify your vision, hone your business strategy, set financial goals and track them through financial forecasting (which is a way of both literally and figuratively projecting success). We start with weekly meetings for the first two months to set the strategy, then move to monthly coaching calls.
This may be for you if…
You run an established clinic, you aim to grow, and you need strategic insight to make confident decisions around what to prioritize, how to effectively invest in growth, and how to create leverage to work smarter rather than harder.
Starting at $400/month
(this is an add-on service to bookkeeping;
bookkeeping not included)
Business-Lifestyle Design Coaching
What it is:
A personalized one-to-one 6-month business development program to help you strategically design a financially sustainable business to support your ideal lifestyle and the work that you’re most passionate about.
This may be for you if…
You have a new or established clinic (or solo practice) and want to accelerate your growth (both inwardly and in your business) and craft a business model that deeply supports your desired lifestyle.
$1,200/mo for 6 months
HOW I SERVE
Great Coaching, Great Accounting
Why coaching and accounting?
Coaching fosters transformation.
Accounting and bookkeeping allow us to measure the transformation in your business.
BOOKKEEPING
What it is:
I will handle your business transactions through accounting software (either Quickbooks Online or Xero) to produce clean financial reports on a monthly basis and meet with you quarterly to review your reports (monthly meeting options available).
This may be for you if…
You run an established clinic or solo practice, and you want clean books along with a clear understanding of your financials.
or…
You're new in practice and want to make sure you have your finances in order from the get-go, guided by an experienced financial professional and business coach.
Starting at $250/month
STRATEGIC ADVISORY
What it is:
I will help you clarify your vision, hone your business strategy, set financial goals and track them through financial forecasting (which is a way of both literally and figuratively projecting success). We start with weekly meetings for the first two months to set the strategy, then move to monthly coaching calls.
This may be for you if…
You run an established clinic, you aim to grow, and you need strategic insight to make confident decisions around what to prioritize, how to effectively invest in growth, and how to create leverage to work smarter rather than harder.
Starting at $400/month
(this is an add-on service to bookkeeping;
bookkeeping not included)
Business-Lifestyle Design Coaching
What it is:
A personalized one-to-one 6-month business development program to help you strategically design a financially sustainable business to support your ideal lifestyle and the work that you’re most passionate about.
This may be for you if…
You have a new or established clinic (or solo practice) and want to accelerate your growth (both inwardly and in your business) and craft a business model that deeply supports your desired lifestyle.
$1,200/mo for 6 months
FINANCIAL LITERACY IS ABOUT EMPOWERMENT
When you develop financial literacy, you can…
✓ Work smarter rather than harder, earn a good living and win back your time (for family, self-care, travel)
✓ Overcome the avoidance, anxiety and confusion around money and instead develop confidence and gain clarity with your decisions and overall direction in business
✓ Step back from the day-to-day and see the bigger picture and greater vision
Financial literacy allows you to go from feeling overwhelmed about your business to feeling confident and in control.
Yet, when it comes to understanding your finances, discomfort, avoidance, ambiguity and shame leave you feeling like you’re “not being good at business”. And it’s also worth acknowledging that the current healthcare landscape is not especially favorable for integrative health practitioners (to say the least). Circumstances therefore call upon integrative clinics to be even more financially savvy in order to carry on with these vital services.
Financial literacy and business skills can be learned,
just like anything else.
And approaching money and business as a practice of self-development is a doorway to a more fulfilling practice and meaningful life.
What’s surprising to some is that emotional literacy and financial literacy are actually closely linked.
On the surface, money looks like just numbers.
But underneath, it’s highly emotional.
Money is a reflection of our values.
And values have roots in what we deeply feel in life and about life.
So emotional literacy and knowledge of self can be a doorway to financial literacy. And this is also bi-directional. Financial literacy can also lead to a deeper understanding of self and one’s emotions.
FINANCIAL LITERACY IS ABOUT EMPOWERMENT
When you develop financial literacy, you can…
✓ Work smarter rather than harder, earn a good living and win back your time (for family, self-care, travel)
✓ Overcome the avoidance, anxiety and confusion around money and instead develop confidence and gain clarity with your decisions and overall direction in business
✓ Step back from the day-to-day and see the bigger picture and greater vision
Financial literacy allows you to go from feeling overwhelmed about your business to feeling confident and in control.
Yet, when it comes to understanding your finances, discomfort, avoidance, ambiguity and shame leave you feeling like you’re “not being good at business”. And it’s also worth acknowledging that the current healthcare landscape is not especially favorable for integrative health practitioners (to say the least). Circumstances therefore call upon integrative clinics to be even more financially savvy in order to carry on with these vital services.
Financial literacy and business skills can be learned, just like anything else.
And approaching money and business as a practice of self-development is a doorway to a more fulfilling practice and meaningful life.
What’s surprising to some is that emotional literacy and financial literacy are actually closely linked.
On the surface, money looks like just numbers.
But underneath, it’s highly emotional.
Money is a reflection of
our values.
And values have roots in what we deeply feel in life and about life.
So emotional literacy and knowledge of self can be a doorway to financial literacy. And this is also bi-directional. Financial literacy can also lead to a deeper understanding of self and one’s emotions.
A LITTLE BIT ABOUT BILL
Hi, I’m Bill Hershey.
I’m the founder of Life Stream Business Services.
With a lifelong passion for mind-body-soul health, I support integrative clinics with strategy, coaching, accounting and bookkeeping.
You might be wondering why I got into the money side of business? I lived at a meditation retreat for over 15 years with very little money, and I was quite content with that. And perhaps it’s also worth noting that I was in non-profit finance for all those years. When I left, I realized that being able to make a living through meaningful work was vital to my ability to feel fulfilled in my life.
I had the honor of teaching business, marketing and money management with professional organizations like:
✓ National Ayurvedic Medicine Association (NAMA)
✓ California Association of Ayurvedic Medicine (CAAM)
✓ National University of Naturopathic Medicine (NUNM)
✓ Naturopathic Medical Student Association
✓ Kerala Ayurveda Academy
…and several others.
Living a quiet life in the forest and practicing a spiritual lifestyle brings me joy.
A LITTLE BIT ABOUT BILL
Hi, I’m Bill Hershey.
I’m the founder of Life Stream Business Services.
With a lifelong passion for mind-body-soul health, I support integrative clinics with strategy, coaching, accounting and bookkeeping.
You might be wondering why I got into the money side of business? I lived at a meditation retreat for over 15 years with very little money, and I was quite content with that. And perhaps it’s also worth noting that I was in non-profit finance for all those years. When I left, I realized that being able to make a living through meaningful work was vital to my ability to feel fulfilled in my life.
I had the honor of teaching business, marketing and money management with professional organizations like:
✓ National Ayurvedic Medicine Association (NAMA)
✓ California Association of Ayurvedic Medicine (CAAM)
✓ National University of Naturopathic Medicine (NUNM)
✓ Naturopathic Medical Student Association
✓ Kerala Ayurveda Academy
…and several others.
Living a quiet life in the forest and practicing a spiritual lifestyle brings me joy.
TESTIMONIALS
"Bill has helped me tremendously with my business. It has grown in ways I would have never dreamed on my own. He is very transparent and kind and a pleasure to work with."
Olivia Franks, ND
Swiftwater Medical
"I have never been more confident in the financial well-being and organization of my practice and life."
Madison Madden,
Ayurvedic Doctor
LiveWise
"Integrity is a rare quality to find in any business relationship. Bill has a lot of integrity. He's a disciplined person. Working with Bill has helped me build trust and credibility in the industry."
Nicholas Chalmers,
Marriage & Family Therapist
Trustlines Therapy
TESTIMONIALS
"Bill has helped me tremendously with my business. It has grown in ways I would have never dreamed on my own. He is very transparent and kind and a pleasure to work with."
Olivia Franks, ND
Swiftwater Medical
"I have never been more confident in the financial well-being and organization of my practice and life."
Madison Madden, Ayurvedic Doctor
LiveWise
"Integrity is a rare quality to find in any business relationship. Bill has a lot of integrity. He's a disciplined person. Working with Bill has helped me build trust and credibility in the industry."
Nicholas Chalmers,
Marriage & Family Therapist
Trustlines Therapy
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