Definition
Front Office
The patient-facing operational layer of a practice: phones, scheduling, eligibility, referrals, prior authorizations, intake.
From the episode “America Spends $5 Trillion on Health. This Is Where It Leaks”Hear it on the podcast1 episode
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Related terms in Finance & Markets
FERPAThe US federal law governing the privacy of student education records.Financial GeneralistCJ Follini's concept of the investor or financial professional who understands the full spectrum of financial instruments, asset classes, tax strategies, and planning tools — rather than deferring entirely to hyper-specialists for each domain. The financial generalist knows enough about real estate, venture capital, estate planning, retirement accounts, tax optimization, and debt management to ask the right questions, identify the right specialists, and make integrated decisions. CJ argues this is the model the AI era rewards: LLMs and agentic AI are themselves generalist technologies, and the human who can orchestrate specialist agents across financial domains outperforms the human who outsources each domain to a separate professional with misaligned incentives.First-party coverPays for your own losses: business interruption, data restoration, model retraining, runaway infrastructure costs.Fixed ExpensesCosts you pay regardless of revenue: payroll, rent, legal, accounting.FundamentalsThe full financial statements behind the headlines: income statement, balance sheet and cash flow statement.GarnishmentA court-ordered process that takes part of a debtor's wages to pay a judgment.GDPRThe EU data protection regulation. Constrains how candidate data can be collected, processed, and retained in Europe.Great Wealth TransferThe largest intergenerational wealth transfer in recorded history: an estimated $60–90 trillion moving from Baby Boomers and Gen X to Millennials and Gen Z. The transfer is not gradual — the bulk occurs in the next 10–12 years due to the compressed age distribution of the two wealthiest generations. Most inheritors are structurally unprepared: Noyack's 5,000-respondent survey found only 8% of millennials had ever had a serious conversation with parents or extended family about family wealth, limited partnerships, or estate planning. CJ Follini argues this creates both a crisis (wealth destruction through poor decisions and taxes) and an opportunity (the market for financial literacy and democratized wealth management tools is enormous).