Jun 13, 2019
Tracy Young – CRNA, MBA and CEO
of YPS Anesthesia Services, talks to Jason A. Duprat, Entrepreneur,
Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy
Podcast. Tracy walks us
through his nursing career and how he became a successful
anesthesia entrepreneur. Tracy also delves into anesthesia
contracts, subsidies, mergers, billing structures and how to
prepare for recessions.
discusses how he started his nursing career.
did Tracy make his first leap into entrepreneurship?
recommendations does Tracy have for getting anesthesia
competitive is it to get hospital contracts?
marketing methods does Tracy 's find to be effective?
- What's currently going on with subsidies in the
does the process for moving your services into other states
are some of the growth challenges Tracy has
there an industry standard for mergers?
billing outsourced or done internally?
- What's the billing structure for a smaller
are some of the rules and regulations companies should be aware of
to avoid trouble?
good healthcare lawyer is important for growing
should someone start branching out to do office
do you overcome the obstacles for the demand of an anesthesia
physician over a CRNA?
Tracy preparing for a future recession?
the big anesthesia providers swoop in and buy up the smaller
providers during a recession?
was one of Tracy's biggest unexpected failures?
advice does Tracy recommend for up-and-coming anesthesia
3 Key Points:
sending out proposals focus on the following: what you do that's
special, what makes you different and then highlight these
features. Be succinct and clear; provide accurate financial
of hospitals subsidize their anesthesia department in some
- 2013-2015 was probably the peak of the mergers
and acquisitions market. Multiples, the amount a person is willing
to pay for the revenue stream that the company generates, were
have a full non-clinical team of CFOs, accountants, operating
officers, credentialers, schedulers, a pretty large non-clinical
team and we're also growing business development and marketing.’” –
proposal writing is guided by what's inside the guidelines of the
RFP process. So there are certain questions they ask that
must be answered.” – Tracy Young
trend that we're seeing in the marketplace is more and more
patients are having large, high-deductible plans.” – Tracy