Can You Build A Patient-First Practice While Still Being Profitable? Hearing Matters podcast

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Can You Build a Patient-First Practice While Still Being Profitable?

5d ago 53:15

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Dr. Lindsay Koble takes us on an extraordinary journey from accidental audiologist to successful practice owner in this eye-opening conversation about the realities of audiology entrepreneurship. After a jaw surgery complication left her with a perforated eardrum during college, Lindsay discovered her passion for audiology through her own hearing healthcare experience. This unexpected path led her to build Audiology Always, a thriving practice in her hometown of Auburn, Indiana focused on transparent, accessible care.
Lindsay's career trajectory provides a masterclass in preparation for practice ownership. Her time in an ENT clinic built clinical confidence with complex cases, while her role as a hearing aid manufacturer representative developed her business acumen. Combined with an MBA and farm-raised financial wisdom, these experiences created the perfect foundation for entrepreneurship. "You're never really ready," she reveals, "but if you're confident enough to bet on yourself, that's when it's time."
Financial literacy emerges as the unsung hero of practice success. Lindsay candidly discusses securing her $135,000 practice loan, making strategic equipment decisions, and maintaining conservative financial practices. Growing up on a family farm taught her invaluable lessons about cash flow management - understanding that business has "good seasons and bad seasons" and preparing accordingly. She challenges conventional thinking by accepting Medicare, Medicaid and insurance plans while maintaining profitability through transparent service pricing.
The conversation expands beyond business mechanics to explore the importance of community for practice owners. Lindsay participates in a mastermind group of Indiana audiologists who meet monthly to share challenges and solutions. Her leadership in founding the Indiana Audiology Coalition demonstrates her commitment to advancing the profession through collaboration and advocacy.
Whether you're a seasoned practice owner or dreaming of entrepreneurship, this episode delivers practical wisdom on balancing profitability with patient-centered care. Subscribe to Hearing Matters for more conversations that delve into the business of better hearing and the human stories behind successful practices.

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Chapters

1. Can You Build a Patient-First Practice While Still Being Profitable? (00:00:00)

2. Partner Introductions (00:00:19)

3. Meet Dr. Lindsay Coble (00:00:42)

4. Journey to Discovering Audiology (00:03:27)

5. Career Path to Private Practice (00:07:16)

6. Financial Reality of Practice Ownership (00:15:58)

7. Balancing Profitability and Patient Care (00:25:06)

8. Building Community in Private Practice (00:38:53)

9. Indiana Audiology Coalition Leadership (00:51:02)

10. Final Thoughts and Closing (00:54:13)

203 episodes

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