BootstrapMD - Physician Entrepreneurs Podcast with Dr. Mike Woo-Ming

Hosted by mikewooming@gmail.com (Mike Woo-Ming)

Business Health FitnessInterviews guestsExplicit

Website RSS feed

Episodes

617

Latest episode

Oct 2026

Language

About the show

BootstrapMD -A podcast for doctors and physician entrepreneurs who want to learn to increase their financial worth and bring balance to your work life. We discuss building side businesses, investment opportunities, and how to live life on your own terms. Forge your own path, by leveraging your current knowledge to educate others.

Listen to episodes

60 recent

October 21, 2026Episode 36818 min

EP368 : Feel Stuck? Why Physicians Often Ask the Wrong Question

October 14, 2026Episode 36738 min

EP367 : From ER Doctor to Entrepreneur: How One Couple Built and Sold a Business

This episode is sponsored by NURP NURP helps busy physicians grow their wealth through AI-powered algorithmic trading designed for demanding careers. No day trading, no guesswork, and no constant market watching required. Ready to put your money to work? Visit start.nurp.com/doctors to learn more. Trading involves risk, and results may vary. This is not financial advice. __________________________________ What if physicians could build businesses that give them more control over their time, income, and future? In this episode of Bootstrap MD, Dr. Mike Woo-Ming sits with Dr. Eric Wright and Jenna Wright as they share their entrepreneurial journey, from launching Charleston Payroll in 2014 to selling the business in 2024. They explain how networking, trusted CPA relationships, recurring revenue, and planning for an eventual exit helped them grow the company while Eric continued working in emergency medicine. The couple also discussed building a 1099 Tax Doctor, helping physicians understand self-employment, tax planning, and retirement options. They share lessons on delegating tasks, working together as spouses and business partners, learning from failure, and moving beyond trading time for money. Their advice: start with an idea, take action, and learn as you go. Listeners will learn how physicians can build businesses, plan exits, improve tax awareness, delegate effectively, and create greater financial and personal freedom. Top 3 Actionable Takeaways: Start before you feel completely ready. Eric and Jenna explain that entrepreneurship involves setbacks and uncertainty. Start with a practical idea, take action, and treat each experience as an opportunity to learn and improve. Delegate strategically. Understand the value of your time and identify tasks that someone else can handle. Delegating appropriate responsibilities can create more room for higher-value work, business development, and family life. Plan your business exit early. Even if you do not intend to sell soon, understand what a future buyer might value. Keep your business records organized and consider how client relationships, revenue, and operational systems affect its potential sale. About the Show: Bootstrap MD is the ultimate podcast for physician entrepreneurs looking to escape traditional healthcare and control their financial futures. Hosted by Dr. Mike Woo-Ming, a successful physician, entrepreneur, and investor, the show delivers actionable insights on starting businesses, creating passive income, and navigating healthcare entrepreneurship. Featuring interviews with industry leaders, physicians, and experts in telemedicine and digital health, it's your guide to building a profitable, fulfilling career. Tune in weekly at http://bootstrapmd.com About the Guest: Dr. Eric Wright and Jenna Wright are a husband-and-wife entrepreneur team. Eric is an emergency physician turned entrepreneur, while Jenna is an Emmy-nominated broadcast journalist turned business owner. Together, they built and sold Charleston Payroll in 2024 and now operate 1099 Tax Doctor, helping physicians navigate self-employment, tax planning, and related financial services. Connect With the Guests Website: 1099taxdoctor.com Podcast: 1099 Tax Doctor podcast About the Host: Dr. Mike Woo-Ming has over 20 years of experience as a physician entrepreneur. He's built and sold multiple seven-figure companies and now leads Executive Medical, a group of clinics specializing in age management and aesthetics. Through BootstrapMD, he mentors physicians in business, content creation, and autonomy. Let's Connect: www.https://www.bootstrapmd.com Want to start a podcast? Check out the Doctor Podcast Network! Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

October 7, 2026Episode 36633 min

EP366 : Rural Family Doctor Finds 26 cm Tumor Mid-ER Shift : How Cancer Changed Everything with Dr. Peter Crane

This episode is sponsored by NURP NURP helps busy physicians grow their wealth through AI-powered algorithmic trading designed for demanding careers. No day trading, no guesswork, and no constant market watching required. Ready to put your money to work? Visit start.nurp.com/doctors to learn more. Trading involves risk, and results may vary. This is not financial advice. __________________________________ In an era when full-spectrum rural practice feels increasingly rare, Dr. Peter Crane is living it. Board-certified family physician, former county EMS medical director, and longtime chief of staff at a critical access hospital, he returned home to rural Idaho in 2011 and stepped into the clinic where he once received his own sports physicals, succeeding the very doctor who delivered him. On this episode of Bootstrap MD, host Mike sits down with Dr. Crane to explore what full-spectrum care actually looks like day-to-day, the unique rewards and boundary challenges of practicing where everyone knows you, and the life-altering moment in 2022 when he discovered a large solitary fibrous tumor by reading his own CT report while working an ER shift. The subsequent radiation, major surgery, temporary paralysis, and ongoing treatment forced a profound shift: radical acceptance, loss of fear, deeper empathy for patients, and a renewed commitment to medicine. Out of that experience came the Doctors Making a Difference podcast (now past 100 episodes), where Crane spotlights physicians doing meaningful work and pushes back against the prevailing narrative of burnout and despair. This conversation is equal parts inspiring origin story, candid patient journey, and call for physicians to claim their voice and stay in the profession. Three Actionable Takeaways: Protect boundaries while staying present: In a small community, patients will approach you outside the clinic. Have a consistent, respectful way to redirect clinical questions so you can still be a member of the community without sacrificing personal time. Practice radical acceptance to reduce fear: Accepting the possibility of the worst outcome can free you from sweating the small stuff. Use that clarity to say "no" to nonsensical demands and "yes" with full energy to what truly serves patients and your own wellbeing. Create content that puts physicians back in the driver's seat: Patients consume hours of health information daily from non-physician sources. Whether through a podcast, social posts, or occasional videos, share accurate, compassionate perspectives. You don't need to be the world's top expert, just one or two steps ahead of your audience. About the Show: Bootstrap MD is the ultimate podcast for physician entrepreneurs looking to escape traditional healthcare and control their financial futures. Hosted by Dr. Mike Woo-Ming, a successful physician, entrepreneur, and investor, the show delivers actionable insights on starting businesses, creating passive income, and navigating healthcare entrepreneurship. Featuring interviews with industry leaders, physicians, and experts in telemedicine and digital health, it's your guide to building a profitable, fulfilling career. Tune in weekly at http://bootstrapmd.com About the Guest: Dr. Peter Crane is a board-certified family physician practicing full-spectrum rural medicine in Idaho since 2011. He took over the practice of the physician who delivered him, has served as county EMS medical director and hospital chief of staff, and continues ER and obstetric work alongside clinic care. After surviving a rare large solitary fibrous tumor, he launched the Doctors Making a Difference podcast (Doctor Podcast Network), where he highlights physicians doing meaningful work in and beyond medicine. He also contributes content related to solitary fibrous tumor awareness. Website: doctorsmakingadifference.com Podcast: Doctors Making A Difference About the Host: Dr. Mike Woo-Ming has over 20 years of experience as a physician entrepreneur. He's built and sold multiple seven-figure companies and now leads Executive Medical, a group of clinics specializing in age management and aesthetics. Through BootstrapMD, he mentors physicians in business, content creation, and autonomy. Let's Connect: www.https://www.bootstrapmd.com Want to start a podcast? Check out the Doctor Podcast Network! Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

September 30, 2026Episode 36527 min

#365 - She Left Medicine for Hollywood: An Interview with the Hunting Wives' Jackie Dallas

This episode is sponsored by NURP NURP helps busy physicians grow their wealth through AI-powered algorithmic trading designed for demanding careers. No day trading, no guesswork, and no constant market watching required. Ready to put your money to work? Visit start.nurp.com/doctors to learn more. Trading involves risk, and results may vary. This is not financial advice. —---------------------------- What would make a doctor walk away from pathology residency just one year from finishing? In this inspiring episode of BootstrapMD, host Dr. Mike Woo-Ming welcomes Jackie Dallas: physician by training, actress by passion, and women's health advocate. She explains how she treated acting as a business rather than waiting to be discovered, leveraged her real medical background to book early roles, and navigated early typecasting as an Asian actress. Listeners hear the story behind her breakout role in Stranger Things Season 1 and her recurring role in the Netflix hit The Hunting Wives . Jackie also discusses her return to medicine through advocacy, launching HerHealth101.com to educate women about underdiagnosed pelvic floor conditions, self-advocacy in short appointments, and the ongoing underfunding of women's health research. She closes with practical advice for physicians curious about creative careers: start small, treat it like a business, and don't quit your day job until you've tested the waters. Three Actionable Takeaways: The sunk-cost fallacy keeps many physicians stuck; Jackie left with one year of residency remaining because she knew the path wasn't right for her. Acting is a business, not magic: Treat it like any other career; build credits, develop skills, get representation, and persist through rejection. Physicians have unique advantages in creative fields: (authenticity in medical roles, research skills, discipline). Jackie now channels that same training into women's health education via HerHealth101. About the Show: Bootstrap MD is the ultimate podcast for physician entrepreneurs looking to escape traditional healthcare and control their financial futures. Hosted by Dr. Mike Woo-Ming, a successful physician, entrepreneur, and investor, the show delivers actionable insights on starting businesses, creating passive income, and navigating healthcare entrepreneurship. Featuring interviews with industry leaders, physicians, and experts in telemedicine and digital health, it's your guide to building a profitable, fulfilling career. Tune in weekly at http://bootstrapmd.com About the Guest Jackie Dallas is a SAG-AFTRA actress and former physician. She trained in surgery and pathology before leaving medicine to pursue acting full-time. Her credits include Stranger Things (Season 1), 13 Reasons Why , Magnum P.I. , NCIS: Hawai'i , Criminal Minds , Fear the Walking Dead , and a recurring role as a political strategist in Netflix's The Hunting Wives . She is the founder of HerHealth101, a platform dedicated to educating women about pelvic floor health and self-advocacy. Connect with Jackie Dallas: Website: https://www.jackiedallas.com HerHealth101: https://herhealth101.com Instagram: @jaxdallas IMDb: imdb.me/jackiedallas About the Host: Dr. Mike Woo-Ming has over 20 years of experience as a physician entrepreneur. He's built and sold multiple seven-figure companies and now leads Executive Medical, a group of clinics specializing in age management and aesthetics. Through BootstrapMD, he mentors physicians in business, content creation, and autonomy. Let's Connect: www.https://www.bootstrapmd.com Want to start a podcast? Check out the Doctor Podcast Network! Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

September 23, 2026Episode 36444 min

EP364 : Will AI Replace Physicians? How Doctors Can Stay Ahead

This episode is sponsored by NURP NURP helps busy physicians grow their wealth through AI-powered algorithmic trading designed for demanding careers. No day trading, no guesswork, and no constant market watching required. Ready to put your money to work? Visit start.nurp.com/doctors to learn more. Trading involves risk, and results may vary. This is not financial advice. __________________________________ What happens when AI transforms not only how physicians practice medicine, but also how they build their careers? Join Dr. Mike Woo-Ming as he welcomes Dr. Rusha Modi In this episode of Bootstrap MD. Dr. Modi discusses why he left traditional medicine and pursued a more personalized model focused on complex, multisystem health concerns, vitality, and major life transitions. He discusses how volume-driven healthcare can overlook patients whose needs extend beyond a single specialty, visit, diagnosis, or conventional treatment target. The conversation then explores AI's growing influence on healthcare, physician workflows, entrepreneurship, and patient engagement. Dr. Modi encourages physicians to understand their economic value, diversify income, learn practical AI tools, map their workflows, and take an active role in technology implementation rather than allowing changes to happen around them. Three Actionable Takeaways: Understand Your Value: Physicians should understand their economic and professional value rather than assuming self-advocacy conflicts with patient advocacy. Know what your work contributes, negotiate thoughtfully, and avoid allowing healthcare systems to undervalue your expertise. Learn to Use AI: You do not need to become a programmer to benefit from AI. Start with practical tasks such as scheduling and administrative work, learn where the technology succeeds or fails, and gradually explore how it can improve your clinical workflow. Lead the Transition: Physicians should not remain passive as AI transforms healthcare. Map your clinical and administrative workflows, identify tasks likely to be automated, develop expertise that adds human value, and participate in decisions about how technology is implemented. About the Show: Bootstrap MD is the ultimate podcast for physician entrepreneurs looking to escape traditional healthcare and control their financial futures. Hosted by Dr. Mike Woo-Ming, a successful physician, entrepreneur, and investor, the show delivers actionable insights on starting businesses, creating passive income, and navigating healthcare entrepreneurship. Featuring interviews with industry leaders, physicians, and experts in telemedicine and digital health, it's your guide to building a profitable, fulfilling career. Tune in weekly at http://bootstrapmd.com About the Guest: Dr. Rusha Modi is a board-certified gastroenterologist and hepatologist trained at Brown, Harvard, Cedars-Sinai, UCLA, and USC. He has held academic and health-tech roles and focuses on physician entrepreneurship, consumer biology, AI in healthcare, and performance medicine. He is also developing Volta, a premium virtual concierge practice for life transitions. LinkedIn: https://www.linkedin.com/in/rusha-modi Substack: https://tomorrowlist.substack.com About the Host: Dr. Mike Woo-Ming has over 20 years of experience as a physician entrepreneur. He's built and sold multiple seven-figure companies and now leads Executive Medical, a group of clinics specializing in age management and aesthetics. Through BootstrapMD, he mentors physicians in business, content creation, and autonomy. Let's Connect: www.https://www.bootstrapmd.com Want to start a podcast? Check out the Doctor Podcast Network! Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

September 16, 2026Episode 36332 min

EP363: From Owning a Job to Building a Sellable Medical Practice

This episode is sponsored by NURP NURP helps busy physicians grow their wealth through AI-powered algorithmic trading designed for demanding careers. No day trading, no guesswork, and no constant market watching required. Ready to put your money to work? Visit start.nurp.com/doctors to learn more. Trading involves risk, and results may vary. This is not financial advice. __________________________________ Is your medical practice a true business, or just a high-paying job that depends entirely on you? In this episode of BootstrapMD, Dr. Mike Woo-Ming sits with Dr. Jean -Raphael Schneider as he explains how his entrepreneurial journey began in 2006 and how his mother, who had an MBA and a background in supply chain and logistics at Hewlett Packard, introduced him to lean methodology. By applying principles such as standardized processes, eliminating waste, and defining value from the patient's perspective, Dr. Schneider built systems that improved both efficiency and patient care. The conversation explores how physicians can move from being self-employed to actually owning a business. It also highlights the risks of operational inefficiencies and inadequate financial safeguards. Dr. Raphael recounts experiencing cyber fraud involving a major financial transaction and explains how the experience led him to develop formal procedures for large payments. He emphasizes that physicians should proactively create systems rather than waiting for problems to occur. Today, Dr. Schneider is focused on helping other physicians build scalable and sellable practices through his program, Transform Your Medical Practice into a Scalable and Sellable Asset, and his book, The Physician's Freedom Formula. Three Actionable Takeaways: Build Systems Before You Need Them: Don't wait for problems to appear before creating processes. Document your clinical and administrative workflows from the beginning and continuously improve them. Systems can standardize care, make onboarding easier, reduce errors, and allow the practice to operate more effectively without everything depending on the owner. Turn Physician Time Into High-Value Work: One of the biggest sources of waste in a medical practice is having highly trained physicians spend their time on tasks that could be delegated, automated, or prepared by staff. Look for opportunities to have team members handle administrative work, prepare patient information, and organize records so physicians can focus on clinical decisions and patient care. Build Your Practice as an Asset: If your practice depends entirely on you, you may own a job rather than a business. Develop multiple providers, ancillary services, and reliable systems that generate value even when you're not personally present. Building these pillars can create greater flexibility today and potentially increase the value of the practice when you're ready for an exit. About the Show: Bootstrap MD is the ultimate podcast for physician entrepreneurs looking to escape traditional healthcare and control their financial futures. Hosted by Dr. Mike Woo-Ming, a successful physician, entrepreneur, and investor, the show delivers actionable insights on starting businesses, creating passive income, and navigating healthcare entrepreneurship. Featuring interviews with industry leaders, physicians, and experts in telemedicine and digital health, it's your guide to building a profitable, fulfilling career. Tune in weekly at http://bootstrapmd.com About the Guest: Dr. Jean -Raphael Schneider, is a practicing neurologist, entrepreneur, author, and physician coach. He began his private practice journey in 2006 and built a multi-provider neurology practice using lean methodology and standardized systems. His practice eventually grew to four doctors, two nurse practitioners, and ancillary services including research and infusion services before he sold the business. Today, Dr. Raphael helps physicians transform their medical practices into scalable and sellable assets. He is the author of The Physician's Freedom Formula and runs the program Transform Your Medical Practice into a Scalable and Sellable Asset, where he teaches physicians how to build systems, reduce waste, scale their practices, and create a sustainable exit strategy. Book: The Physician's Freedom Formula. About the Host: Dr. Mike Woo-Ming has over 20 years of experience as a physician entrepreneur. He's built and sold multiple seven-figure companies and now leads Executive Medical, a group of clinics specializing in age management and aesthetics. Through BootstrapMD, he mentors physicians in business, content creation, and autonomy. Let's Connect: www.https://www.bootstrapmd.com Want to start a podcast? Check out the Doctor Podcast Network! Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

September 9, 2026Episode 36227 min

EP362: From Burnout to a Better Physician Life: How Coaching Can Transform Your Career

This episode is sponsored by NURP NURP helps busy physicians grow their wealth through AI-powered algorithmic trading designed for demanding careers. No day trading, no guesswork, and no constant market watching required. Ready to put your money to work? Visit start.nurp.com/doctors to learn more. Trading involves risk, and results may vary. This is not financial advice. __________________________________ Are you building financial freedom, or sacrificing your life trying to reach it? In this episode of BootstrapMD, Dr. Mike Woo-Ming welcomes Dr. Michael Hersh, as he shares his journey through burnout, his pursuit of financial independence, and the realization that simply reaching a financial finish line would not solve the deeper challenges he was experiencing. The conversation explores why physicians can be hesitant to seek coaching, including the culture of independence, stigma around asking for help, and concerns about being taken advantage of. Michael explains how coaching helped him challenge deeply held beliefs, establish boundaries, schedule meaningful breaks during his clinical day, and become more present with his family. He also discusses how he shifted his perspective on the FIRE movement, continuing to save and invest while reducing the urgency to reach financial independence at the expense of his current life. He explains that many doctors come to coaching because their families are receiving the "leftovers" of their energy after demanding clinical work. The conversation also covers career transitions, physician entrepreneurship, podcasting, and how the Doctor Podcast Network has helped him make Better Physician Life more sustainable. Michael encourages physicians to recognize their transferable skills and explore the many ways they can use their expertise beyond traditional clinical practice. Three Actionable Takeaways: Identify What You Can Control: Physicians often feel powerless when working within complex healthcare systems, but there are usually areas where they can influence their experience. Identify the things you can change, such as your schedule, boundaries, routines, and daily habits, while learning to let go of circumstances that are outside your control. Stop Giving Your Family the Leftovers: After giving patients and healthcare organizations your energy all day, it can be easy to arrive home with little patience or emotional bandwidth remaining. Create intentional boundaries between work and home, schedule breaks during the workday, and develop routines that help you become more present with the people who matter most. Build a Life Beyond Clinical Medicine: Your identity and value as a physician do not have to depend entirely on clinical work. Explore your transferable skills, interests, leadership abilities, business opportunities, or entrepreneurial pursuits. You may not need to leave medicine completely; developing meaningful interests outside clinical practice can make your career more sustainable. About the Show: Bootstrap MD is the ultimate podcast for physician entrepreneurs looking to escape traditional healthcare and control their financial futures. Hosted by Dr. Mike Woo-Ming, a successful physician, entrepreneur, and investor, the show delivers actionable insights on starting businesses, creating passive income, and navigating healthcare entrepreneurship. Featuring interviews with industry leaders, physicians, and experts in telemedicine and digital health, it's your guide to building a profitable, fulfilling career. Tune in weekly at http://bootstrapmd.com About the Guest: Dr. Michael Hersh is a practicing gastroenterologist outside of Chicago and the founder of Better Physician Life Coaching. After experiencing burnout and realizing that financial independence alone would not solve the challenges he was facing, Michael discovered physician coaching and transformed his approach to work, family, and career. He now coaches physicians who feel trapped, overwhelmed, or uncertain about their professional direction. Michael also hosts the Better Physician Life podcast, where he explores the challenges physicians face and shares strategies for creating more sustainable and fulfilling careers. Website: betterphysicianlife.com Podcast: Better Physician Life Free Resource: betterphysicianlife.com/commutereset About the Host: Dr. Mike Woo-Ming has over 20 years of experience as a physician entrepreneur. He's built and sold multiple seven-figure companies and now leads Executive Medical, a group of clinics specializing in age management and aesthetics. Through BootstrapMD, he mentors physicians in business, content creation, and autonomy. Let's Connect: www.https://www.bootstrapmd.com Want to start a podcast? Check out the Doctor Podcast Network! Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

September 2, 2026Episode 36133 min

EP361: Telemedicine in 2026: Why Physicians Need to Think Beyond the License

This episode is sponsored by NURP NURP helps busy physicians grow their wealth through AI-powered algorithmic trading designed for demanding careers. No day trading, no guesswork, and no constant market watching required. Ready to put your money to work? Visit start.nurp.com/doctors to learn more. Trading involves risk, and results may vary. This is not financial advice. __________________________________ Are you building a sustainable telemedicine career—or simply collecting more state licenses? In this episode of BootstrapMD, Dr. Mike Woo-Ming welcomes Dr. Leo Damasco and Phoebe Gutierrez, to discuss their podcasting journey and the evolving telemedicine landscape. They explain how their partnership developed, why abandoning rigid scripts transformed their show, and how joining the Doctor Podcast Network helped them focus on meaningful conversations, research, guests, and sustainable content creation. The conversation then explores telemedicine's transition from its COVID-era boom into a more mature and competitive industry. Leo and Phoebe discuss shrinking physician leverage, increasing regulation, market consolidation, private equity involvement, and the shift toward smaller, focused practice models. They encourage physicians to think strategically about licensing, business ownership, leadership opportunities, diversification, and developing expertise beyond clinical care. They also explain how physicians can evaluate telemedicine companies and identify potential warning signs before joining. They emphasize asking questions, understanding regulatory responsibilities, participating in leadership, and protecting professional judgment. Rather than avoiding telemedicine, physicians should enter thoughtfully, build valuable skills, diversify when appropriate, and position themselves as knowledgeable contributors rather than interchangeable providers. Three Actionable Takeaways: Build Beyond Your Clinical Credentials: Having multiple state licenses can open doors, but licenses alone may no longer differentiate physicians in a competitive telemedicine market. Develop complementary expertise in compliance, operations, leadership, business development, technology, or practice management. The more problems you can intelligently solve, the more valuable you become to telemedicine organizations and potential practice partners. Investigate Before Joining a Telemedicine Company: Before accepting a telemedicine role, ask detailed questions about state requirements, physician responsibilities, clinical workflows, technology, prescribing practices, leadership expectations, and how patient information is handled. If a company discourages questions or describes your role as completely passive, pause and investigate further. Your professional license deserves careful protection. Diversify Strategically, Not Automatically: Having several telemedicine employers can provide protection against company instability, but working across too many platforms can dilute your attention and prevent meaningful expertise. Early diversification can help you learn the industry and discover what works. Over time, consider concentrating on organizations where you can contribute substantially, earn well, and build lasting value. About the Show: Bootstrap MD is the ultimate podcast for physician entrepreneurs looking to escape traditional healthcare and control their financial futures. Hosted by Dr. Mike Woo-Ming, a successful physician, entrepreneur, and investor, the show delivers actionable insights on starting businesses, creating passive income, and navigating healthcare entrepreneurship. Featuring interviews with industry leaders, physicians, and experts in telemedicine and digital health, it's your guide to building a profitable, fulfilling career. Tune in weekly at http://bootstrapmd.com About the Guests: Dr. Leo Damasco – Pediatrician and emergency medicine doctor turned telemedicine advocate, helping physicians transition to digital health. Phoebe Gutierrez – Former state regulator turned telehealth executive, specializing in compliance and sustainable virtual care models. They both host Telemedicine Talks Podcast , where they explore healthcare innovation, physician entrepreneurship, regulatory challenges, and practical strategies for building sustainable careers in telemedicine. Website: Telemedicinetalks.com Podcast: Telemedicine Talks Connect with Phoebe Gutierrez: https://www.linkedIn.com/in/pkgutierrez/ phoebe@telemedicinetalks.com ( mailto:phoebe@telemedicinetalks.com ) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

August 26, 2026Episode 36017 min

EP360: The Real Number: Why "Replace My Income" is the Wrong Goal

This episode is sponsored by NURP NURP helps busy physicians grow their wealth through AI-powered algorithmic trading designed for demanding careers. No day trading, no guesswork, and no constant market watching required. Ready to put your money to work? Visit start.nurp.com/doctors to learn more. Trading involves risk, and results may vary. This is not financial advice. __________________________________ Most physicians building a side business fall into one of two traps with "the number." 1: Trying to fully replace clinical income right out of the gate. Anything short of that full salary feels like failure, so healthy early-stage progress gets misread as "this isn't working." 2: Never setting a number at all. You're busy with webinars, LinkedIn posts, and calls, but you can't tell whether the business is working because you never defined what "working" means. Dr. Mike Woo-Ming reframes the goal: your real number isn't your income. It's your freedom number; the smallest monthly amount of outside income that lets you drop a call shift, cut a clinic day, or reclaim a Sunday. That number is almost always a fraction of your salary, and that's the point. Financial freedom isn't matching your W-2; it's buying back your time dollar by dollar. He shares his own story of setting an ambitious $10,000 per month target early on, watching the gap feel like failure every month, and only turning the corner when he lowered the bar to what would actually change his life (starting with covering a car payment). Two physician case studies drive the point home: one who set a realistic freedom number and kept going, and one who quit a promising venture because it failed to hit an unrealistic sprint-style target in the first few months. The episode ends with a practical three-step exercise you can finish in 5–10 minutes tonight: Freedom number: Smallest monthly amount that changes one specific thing about your week. Proof number: First repeatable revenue that proves the concept works (often far smaller). Time check: Divide by the hours you're realistically willing to give; adjust if it becomes another full-time grind. Once you have the right number, the same business often stops feeling behind and starts feeling ahead. Three Actionable Takeaways: Your freedom number is not your salary: Calculate the smallest monthly outside income that lets you change one concrete thing (drop a call, cut a clinic day, reclaim a weekend). For most physicians this is a few thousand dollars a month, not a few hundred thousand a year. Separate proof from freedom: Early on, track a much smaller "proof number" (first repeatable paying customers or first $500–$1,000 per month recurring). It answers "Does this concept work?" long before the freedom number arrives. Run the time check: If reaching your freedom number requires another 30–60 hour week on top of clinical work, the math isn't freedom, it's a second job. Adjust offer, price, or timeline until the hours fit the life you actually have. About the Show: Bootstrap MD is the ultimate podcast for physician entrepreneurs looking to escape traditional healthcare and control their financial futures. Hosted by Dr. Mike Woo-Ming, a successful physician, entrepreneur, and investor, the show delivers actionable insights on starting businesses, creating passive income, and navigating healthcare entrepreneurship. Featuring interviews with industry leaders, physicians, and experts in telemedicine and digital health, it's your guide to building a profitable, fulfilling career. Tune in weekly at http://bootstrapmd.com About the Host: Dr. Mike Woo-Ming has over 20 years of experience as a physician entrepreneur. He's built and sold multiple seven-figure companies and now leads Executive Medical, a group of clinics specializing in age management and aesthetics. Through BootstrapMD, he mentors physicians in business, content creation, and autonomy. Let's Connect: www.https://www.bootstrapmd.com Want to start a podcast? Check out the Doctor Podcast Network! Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

August 19, 2026Episode 35914 min

EP359 : 7 Business Ideas But Zero Businesses: Why Smart Doctors Stay Stuck.

This episode is sponsored by NURP NURP helps busy physicians grow their wealth through AI-powered algorithmic trading designed for demanding careers. No day trading, no guesswork, and no constant market watching required. Ready to put your money to work? Visit start.nurp.com/doctors to learn more. Trading involves risk, and results may vary. This is not financial advice. __________________________________ How many business ideas are you currently sitting on? If the answer is more than one, this episode is for you. Dr. Mike Woo-Ming opens with a hard truth most ambitious physicians eventually face: seven ideas is functionally the same as zero. A business you haven't started pays you exactly as much as one you haven't thought of yet. Drawing from his own experience building a medical practice while simultaneously chasing software, coaching, and side projects, Mike shows how the very instincts that make doctors excellent clinicians, gather more data, rule everything out, don't act until you're certain, become the instincts that keep them stuck in business. He reframes idea-shopping as insurance against failure and "more research" as procrastination with a spreadsheet attached. The episode then moves from diagnosis to a practical tool. Mike walks listeners through the Three Filter Test: The Relieved or Trapped question applied to what you already have The 30-Day Dollar Test (which idea can put real customer money in your hands the fastest) The Only-You Test (which idea actually gets easier because you are the one doing it) He closes with a clear rule: once a winner survives the filters, give it 90 days of monogamy—no new research, no idea #8 appearing at 11 p.m. A mediocre idea run for two years will beat a perfect idea still living on a comparison chart every single time. Three Actionable Takeaways: Seven ideas equals zero ideas: Having multiple business concepts feels productive and safe, but functionally it is identical to having none. A business you have not started generates zero revenue, zero customers, and zero momentum. Until you deliberately choose one idea and commit, every option remains theoretical and your progress stays permanently stalled. Choose or stay stuck. Run the Three Filter Test tonight: First ask whether keeping only your current work leaves you relieved or trapped. Second, identify which idea could put real customer money in your hands within 30 days. Third, determine which idea becomes easier specifically because of your unique specialty, network, license, or story. The idea that survives all three filters is the one worth pursuing. Commit to 90 days of monogamy:. Once a single idea emerges as the clear winner, give it your exclusive attention for one full quarter. Refuse new research, new podcasts, and any late-night idea number eight. Real-world data and momentum collected over 90 days will teach you far more than another year of theoretical comparisons ever could. About the Show: Bootstrap MD is the ultimate podcast for physician entrepreneurs looking to escape traditional healthcare and control their financial futures. Hosted by Dr. Mike Woo-Ming, a successful physician, entrepreneur, and investor, the show delivers actionable insights on starting businesses, creating passive income, and navigating healthcare entrepreneurship. Featuring interviews with industry leaders, physicians, and experts in telemedicine and digital health, it's your guide to building a profitable, fulfilling career. Tune in weekly at http://bootstrapmd.com About the Host: Dr. Mike Woo-Ming has over 20 years of experience as a physician entrepreneur. He's built and sold multiple seven-figure companies and now leads Executive Medical, a group of clinics specializing in age management and aesthetics. Through BootstrapMD, he mentors physicians in business, content creation, and autonomy. Let's Connect: www.https://www.bootstrapmd.com Want to start a podcast? Check out the Doctor Podcast Network! Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Is this your show?

Claim this listing to keep it up to date, reach guests who want to pitch you, and manage bookings with Guestify.

Claim this listing

More Business podcasts

The Bottom Line

Alexander Spencer

BusinessInterviews guests