E260: Understanding the Business of Medicine with Dr. Keith Johnson

Being a doctor is perhaps the most respected profession in the world. But all that glamour also comes with mountainous student loan debt and the daily battles with insurance companies. The truth is a lot of doctors are living paycheck to paycheck – and the same is true for many entrepreneurs. If you don’t know how to sell yourself and your talents, you will be sold!

In today’s episode, Erik Cabral and Dr. Keith Johnson discuss the business of medicine. Not only a leading expert in the field of orthopedic surgery, sports medicine, and joint replacement, Keith empowers entrepreneurs to live a life of abundance and financial freedom.

Here are some power takeaways from today’s conversation:

• The lack of education in the business of medicine
• A look into medicine from a business standpoint
• Failure is success in progress
• His definition of the term, “sell or be sold”

Episode Highlights:

[10:30] A Look Into Medicine as a Business Standpoint

Doctors are taught not to think about money because it’s unethical. Sadly, with insurance, for example, they’re not paid to actually do the medical procedure, but they’re paid to code the procedure and dictate and submit it properly. There is an utter lack of education in the business of medicine.

[29:14] Sell or Be Sold

If you don't learn how to sell yourself and sell your own talents, someone else will sell them for you. You will be sold. And in the case of doctors, you're sold by the hospital or the insurance industry. And if you don't learn how to sell yourself and your talents, your talents will be sold and someone else will gain the vast majority of benefits from them.

Resources Mentioned:

Keith’s books: https://www.amazon.com/stores/author/B001JSAMFK

Grant Cardone’s books: Seller or Be Sold, The 10X Rule

Rich Dad Poor Dad

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