What’s up you guys? Hey, thanks for watching this video.
I have an interesting video for you today. It’s gonna be called “How to Make a Million Dollars Being a Doctor”. All I hear is all my friends complain about how reimbursements are going down and nobody wants to pay a doctor. Nobody wants to pay for their healthcare visits and (bleep). The administrators…My friends that are employed physicians are all, they’re like, “The administrators, they don’t pay you anymore” and all this other stuff.
I don’t know if you’ve seen my other video that talked about me, basically, making a million dollars as a resident. Now it’s gonna be how you can make a million dollars as a doctor. I suppose you could do this as a resident as well, but I think it’s probably a little bit more difficult. But at least you can be thinking about this while you’re a resident, and I think it’ll really set you up. When you finish, you can use this specific technique to maybe make a million, maybe make $10 million, maybe make $850 million.
I’ll tell you a little story first because I like to tell stories. When I was just out of residency, I basically had a website. I sold fitness products. The company actually had a skincare line and I was like, “Yeah, this is a great idea. I can tack this onto the website and stuff.” At the time, my girlfriend had been a sales rep for a pharmaceuticals company, but then she went into managing reps and sales reps and teaching them how to sell. She was really good at this stuff. I thought maybe it’s a good idea if we partner.
It’s never a good idea to partner with your girlfriend or significant other, just FYI. But I don’t really pay attention to any rules so I (bleep) did it anyway. Different story.
The reason she talked me into this is because she had a friend, and the guy basically came up with a baby formula and eventually sold this different kind of baby formula for $850 million. So I was like, “(Bleep), well if you got friends like that, then maybe it makes sense for me to listen to you to understand the things that you know that I don’t about this stuff.”
The point of that story is that medicine in healthcare is a (bleep) massive business. Huge. Way bigger than most of us think about. It’s huge.
The physicians and everybody else, I mean, this is not just for physicians. This is for nurses, nutritionists, CRNAs, whoever. You guys are all in healthcare, and you all can use this tool. And the tool is called, or the technique, is based around relationships. Essentially, life boils down to your relationships. If you have good ones and people like you, you can do more (bleep). If people don’t like you, you can’t do (bleep).
I’m not saying go out and make people like you, although there are a lot of books on those. Dale Carnegie’s How to Win Friends and Influence People. Great book, great place to start if you’re not a likeable person. But my point is is that while you’re going through residency or whatever you’re doing right now, you have to have a good attitude. If you have a good attitude…You have to be in the right place. As in, this is what you really wanna do otherwise you’re not gonna have a good attitude. And if you don’t have a good attitude, then people are gonna hate you and then you’ll hit that ceiling, and you won’t be able to do other stuff. Whatever it is. Whether it’s in the realm of that specific job or stepping out of that job, moving forward, getting better.
Basically, the technique here is to use your relationships, the things that you built, the people that you know, the people that like you, that are in positions that can connect you with maybe industry product.
As physicians, sometimes we feel like we shouldn’t be telling people what we recommend and monetizing that because we’ve been told – most of us have been told, “You’re a bad doctor if you make money.” Meanwhile, we’re all like, “What the (bleep)? Can’t we make a (bleep) living?” Most people…As a physician, you make a good living but it’s definitely a different time than it was 20, 30 years ago.
All the old guys, you know why they’re cranky? Because they used to make a (bleep)load of money. Now they only make sort of a (bleep)load.
Let’s get down to it. What do your patients need? You see the process, everyday, of the patients in the hospital or – if you’re in a clinic – in the clinic, and you see the problems with whatever. Problems with the food. The food in the hospital sucks. We’re supposed to be promoting health, yet we give people sugar as…We’re clear diets. It’s solid sugar. It’s mind-blowing. Fix that problem. That’s a billion dollar deal right there.
The other processes in the hospital. I don’t even know what you guys know. When you find a process that’s broken, fix that process. Go out and find something that fixes it. You don’t have to create a new product. You can go out and find a product that fixes that problem and then talk to your hospital administrators and/or purchasing department or whatever it is how to get – you gotta figure out how to get in there. That’s where you use relationships. So if you don’t have good relationships, nobody’s gonna listen to you. If you have good relationships and you do a good job all the time, then people will be like, “Okay, I’ll sit down and listen to you.” Even though they may be thinking in the back of their mind, “I don’t wanna listen to this bull(bleep) because he’s trying to sell me something.”
If you develop those good relationships, if you are always honest – this is a freaking key to life. Walk a straight line, make good relationships, and then when you see problems in the process of your patients, whatever it is, fix that problem. And then think big. Don’t just say, “Okay, I want all the nutritionists to switch over to this type of food.” No. You want the hospital system to switch over the food. Not that one hospital, you want 10 hospitals to switch over. And then once you make that inroad and they’re gonna switch over, then you get a percentage of that product sales or something like that.
I think all these things are reasonable things to do. This is what all other businesses do if you’re a doctor or resident or a nurse. Do that. And then when you make a (bleep)load of money, then go fix something else. Take that money and be like, “All right, I’m gonna go to Africa and I’m gonna (bleep) fix malaria.” (Bleep). I don’t know. Something. Something big. Go bigger.
That’s what my goals are to do. I wanna fix medical education in third world countries. I think we have enough technology to do that. There’s no reason kids in third world countries should have to pay for medical education. They can just get it online. The United States has plenty of money to give money to everybody. Why don’t we give it to people that actually wanna (bleep) do something with themselves and wanna do something to help the world.
I don’t know. Crazy ideas I have all the time!
All right you guys. Hey, thank you for watching this video. I really appreciate it. Like the video. If you like it, share it. That would be great too. Comment below. Tell me what you think, any ideas. If you guys have ideas and you wanna help with them, let me know. I’ll help you out. Sometimes I can help you, sometimes I can’t honestly. But I’ll give it a shot. And, hey, subscribe to my channel! Don’t forget about that!
All right, thank you guys very much. Take care.
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