Why Proactive Legal Support Actually Saves Practice Owners Money Featuring Sarah Covington, EP 220

Healthcare attorney Sarah Covington joins Tracy to discuss why proactive legal engagement saves independent practice owners both time and money. Drawing from her experience in big law, health systems, and her own practice, Sarah reveals the compliance requirements most practice owners don't know about and shares practical strategies for managing the juggling act between patient care and business leadership. From financial modeling that takes the fear out of reimbursement cuts to simple tech solutions that improve both patient experience and team efficiency, this conversation offers a refreshing perspective on building sustainable, thriving practices.  Click here for full show notes  See Where Your Practice Stands: Take our Practice Growth Readiness Assessment  Episode Highlights  Why practices that engage legal counsel regularly actually have lower overall legal spend than those who wait for emergencies  The ACA compliance requirement that affects practices accepting Medicare, Medicaid, or CHIP (and why you need quarterly compliance meetings)  How financial modeling transforms anxiety about reimbursement cuts into actionable business decisions  The power of time blocking to separate clinical work from business management—and why mixing these roles can cross ethical boundaries  Simple efficiency wins: How online patient scheduling reduces errors, improves cash flow, and creates better experiences for everyone  The "hat switching" challenge between clinician and entrepreneur mindsets  Why PCM (Principal Care Management) is often missed in specialist offices and how it can offset reimbursement cuts  Memorable Quotes  "The ones that I see really struggling—most of it is financial, and it's because there isn't that strong financial modeling in place."  "For a lot of practices that I work with, the ones that I see routinely engaging legal actually have lower overall legal spend than the ones that wait for issues."  "If you're feeling burned out, it's not you, it's the system."  "You want to continue providing that really great care for your patients, and you do that by having your doors open."  "Time block. Start time blocking and set aside: these are the hours where I work on business matters, these are the hours that I take care of patients."  Closing  Sarah Covington reminds us that independent practice owners are doing a fabulous job juggling way too many things in a system that creates unique constraints. The path forward isn't about working harder—it's about building the right support systems, making informed financial decisions, and protecting time for strategic thinking. Because when you take care of your business, you can continue taking care of your patients.  Guest Bio:  Sarah Covington's path to healthcare law began in an unexpected place—sitting in a children's hospital during her daughter's heart surgery. While halfway through her MBA, she observed the inefficiencies around her and decided to become part of the solution. After adding a healthcare management concentration to her degree (and ruling out medical school after realizing insides-on-the-outside weren't her thing), Sarah eventually pursued law school to build stronger skills for supporting founding teams.  Following a stint in Big Law that taught her lessons she uses daily, Sarah returned to her passion: healthcare innovation. Today, she works at the intersection of law and healthcare startups, helping founding teams navigate the complex regulatory landscape. Licensed in South Dakota and Arizona, Sarah is dedicated to figuring out the nooks and crannies of healthcare law to make the system a little better for the next generation.  Find Sarah:  Forward Slash/Health Website  LinkedIn  Connect With Us:  Be a Guest on the Show  Thriving Practice Community  Schedule Strategy Session with Tracy  Tracy’s LinkedIn  Business LinkedIn Page