#019: Mike MacKinnon: Finding Entrepreneurial Success through CRNA Training and Small Practice Ownership

Overview:

Michael MacKinnon – Owner of MacKinnon Anesthesia PLLC, Co-Founder, Lecturer, Ultrasound Regional and Vascular Instructor at CE2You, Nurse Anesthesiologist and Partner at Northeastern Anesthesia PLLC, and Adjunct Faculty member at Middle Tennessee School of Anesthesia, Midwestern University and National University, talks to Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of theHealthcare Entrepreneur Academy Podcast. Michael shares his knowledge about becoming an ACLS instructor, creating an education company and why hospitals are hiring anesthesia management companies. 

Episode Highlights:

  • Michael talks about his upbringing and education.

  • What motivated Michael to teach and provide training?

  • What’s required to become an ACLS instructor?

  • Why is a business entity useful?

  • Did Michael keep his education company running while in school?

  • How did he land his first major deal to start a group?

  • How should you estimate the potential revenue for a facility?

  • What advice does Michael have to fend off companies trying to ‘out contract’ you?

  • Why are hospitals taking on AMCs?

  • What are hospitals looking for from outside service providers?

  • How and why did Michael start his education company CE2You?

  • What are the challenges when running an education company?

  • What does the CE approval process look like?

3 Key Points:

  1. The reasons why hospitals are taking AMCs include economies of scale, the back office and quality level.

  2. Medicare is the biggest commercial payer.

  3. When selling to a hospital, be ready to provide quality of service, cost-effective service and consistent service.

Tweetable Quotes:

  • “Employment taxes are what your company pays. As a W2, you pay half and the company pays half, and those are things like social security and that kind of stuff. You can only pay more up to a certain number.” – Michael MacKinnon

  • “You have to determine if it’s a contract that’s viable to your organization. Is it in a place where you think you can get people to work? Does the facility have a reasonable expectation of services for the volume of caseloads?” – Michael MacKinnon

  • “If your overall contract value is less, you may require more subsidies than the AMC to do the same job.” – Michael MacKinnon

Resources Mentioned:

#HealthcareBoss #HealthcareEntrepreneurAcademy #healthcare #anesthesia #CRNA #training #education #ACLS

Jason Duprat