How To Sell Your Practice in 2-5 Years (Part Two)
In our last post, we discussed advice from top industry experts, Paul Welk, Greg Wappett, and Eric Major regarding selling your private practice. They offered insights into the process from the viewpoints of an attorney and financial advisors, respectively. Key points we touched on include understanding your earnings, variables that affect the rate of your […]
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How To Sell Your Physical Therapy Practice in 2-5 Years (Part One)
I commonly get questions from private practice owners tossing around the idea of selling their business in the next two to five years. I know what you’re thinking… “Why in the world would I consider selling my business after I’ve put so much work into it?” As is the case with most topics, my interest […]
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What Does Marketing Automation Look Like in a PT Practice?
It wasn’t that long ago that marketing automation was something that only hospitals and large PT practices could afford, leaving small and mid-sized practices to do things the old-fashioned way. Luckily, that’s no longer the case, yet many practices are still doing most or all of their marketing manually – by hand. The whole concept […]
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Growing Your Private PT Practice After Losing Physician Referrals
Is it possible to grow your practice and increase the number of patients you see after losing physician referrals? Faced with declining referrals, this is a common and valid question among private practice physical therapy clinic owners. PTs across the country are seeing a decline in physician referrals. The Journal of General Internal Medicine reported […]
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Important Update on New Direct Access Laws in Texas
Want to learn exactly what the changes in Direct Access mean for your practice? Keep reading to learn how these laws are changing the landscape of PT marketing in Texas and tips for making the switch to direct access marketing. New Laws vs. the Old Prior to September 1, 2019, physical therapists were only permitted […]
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What Can PTs Do about Declining Reimbursements?
This question came from a practice owner: What can PTs do about declining reimbursements? Costs are going up for private practice owners. Meanwhile, reimbursement rates relative to inflation are going down. Compared to 20 years ago, we’re paying more for staff salaries, operating space, supplies, and all the other costs of doing business. If you […]
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Conquering the “Just Tell Me What to Do” Mentality as a Private Practice Owner
“Just tell me what to do.” I can’t tell you how many times I’ve had PT owners say this to me. They want an exact blueprint of how to level up their practice—something they can follow, step by step, without having to put much thought into it. It’s logical enough: We look for advice from […]
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The Ultimate Guide for Hiring the Best Physical Therapist Staff
You might feel like a superhero when you’re helping patients regain their quality of life, but even superheroes have their limits. At some point, you’re going to need to hire staff if you want to keep growing your practice. You, personally, only have so much time in a day. Most private practice owners don’t want […]
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Action Plan: CMS Proposes 8% Cut in Medicare Reimbursement for Physical Therapy
CMS has revealed a plan to make significant cuts to Medicare reimbursement for PTs on the physician schedule for 2021. This will be the fourth proposed cut to PT and conservative care in the past 24 months and many practices are struggling financially with a national average profit margin of 4%. There are practices that […]
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How Physical Therapists Can Overcome Feeling “Too Salesy”
PTs are afraid of sounding too “salesy” when educating prospects and presenting a plan of care. But there’s a big difference between being salesy and being the expert. A salesperson is concerned with making sales, but an expert provides all the information the patient needs to make their own decisions. You didn’t get into physical […]
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