Category Archives for Money
Understanding the Paycheck Protection Program as a Private Practice Owner
As many practice owners continue to struggle financially during the COVID-19 crisis, the new Paycheck Protection Program may offer a ray of hope. The PPP is part of a $1 trillion+ stimulus introduced by the federal government that provides a financial cushion for small businesses in the form of a loan—some or all of which […]
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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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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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Investments vs. Expenses in a PT Practice
Do you know the difference between investments and expenses in private practice physical therapy? It’s not always intuitive. We recently worked with a client who was thinking about adding a PT to their team and viewed the move as an expense rather than an investment. It costs money to hire and retain personnel, which is […]
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How Much Should Physical Therapists Spend on Marketing?
Here’s how to put a value on your marketing to help determine how much you should be spending to meet the needs and goals of your private practice.
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21 Ways PT Practice Owners Wasted Money On Marketing – Survey Results
How We Waste Money on our Physical Therapy Marketing OK. That went well. Had very positive feedback from Part 1 of this Blog series on how most Private PT Practice Owners are waaaaay too reliant on physician referrals. And have little or no idea on how to attract more new patients from 2 places: The General […]
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What They Don’t Teach Us About Money in PT School…
Alright, I’m really struggling to write about this… Not for lack of material and experience (and hopefully a dash of wisdom) to contribute… But more for the perception that talk about money is so TABOO. What other item or tool can you think of that has this much power? A Lack of Money can cause: […]
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