Frequently Asked Questions
Browse the most commonly asked questions about practice growth below. If you don’t see what you are looking for please contact us here.
- What is Direct Access?
Direct access is the ability for a licensed physical therapist to see a patient and be reimbursed for the products and services rendered without a physician referral.
- How Much Do Physical Therapy Owners Make?
Physical Therapist salaries have a wide range depending on what state or country you live and practice in. Some PT’s make less than $50,000 a year and some are in the high seven figure range. This really depends on the size of the practice and business. A median range for a PT practice is between $100,000 to $300,000.
- What is Direct Access Marketing?
Direct access marketing is advertising or marketing directly to the consumer to attract patients without a physician referral.
- What is Direct Response Marketing?
Direct Response marketing is a style of marketing that evokes a particular and measured response from the consumer you're advertising to. The content or ad that is shown delivers a CTA or call to action for direct interaction and a response.
- What is Direct Response Marketing for Physical Therapy?
Marketing material for Physical Therapy that uses specific messaging and content to elicit a user(s) to engage with the practice. Thus focusing time, money and resources on a specific target group. EX: Rotator cuff injuries with a CTA to attend a treatments and rehab workshop.
- What Is Automated Direct Access Marketing?
Marketing that treats people differently based on data and the streams or content we choose them to follow via algorithms, systems, processes and machine learning tools which reduces some of the human workload while promoting a response.
- Do Physical Therapists Make Good Money?
Most Physical Therapists are not in PT for the money and are in the practice to help transform people’s lives. It’s a very rewarding career, and yes can provide a very good income but if the sole purpose is to make money, PT might not be the career for you.
- What Is The Starting Salary Of A Physical Therapist?
A Physical Therapist yearly salary depends on the region, state or country they are practicing in. A starting salary of a new grad is between $65,000 to $75,000 a year plus bonuses and benefits.
- Why Is Physical Therapy A Good Career?
Physical Therapy is a great and rewarding career because we help people who are in pain get back to normal naturally without medications, injections and surgery, truly making a difference in the community.
- Is PTA A Good Career?
Being a Physical Therapy Assistant or a PTA is also a great career is you are interested in helping people in pain and making a difference in their lives. It can be very rewarding and depending on the PT practice, area and state provide a very good income. Again if money is your sole purpose being a PTA might not be the ideal career for you as the reward comes from helping your community.
- Are Physical Therapists In Demand?
Yes, Physical Therapists and PT services are under-utilized across the medical and rehabilitation board. There has been a shift in the way we treat and see new patients. 20 years ago Physician referrals were commonplace and they sent patients straight to PTs. There were Pros and Cons to this but the trends has been a huge decline in referrals since the introduction of big networks, HOPTS and POPTS. However, since the inclusion of Direct Access in many states Physical Therapists can now market direct to the consumer which has had an huge increase in the demand for PT services.
- Are Physical Therapy Business Profitable?
Yes, Physical Therapy Clinics and PT Practices can be very profitable. Following sound business principles, having the right personnel, put the right PT marketing strategies in place with the right operations and financial planning while working diligently and yes your Physical Therapy business will be profitable. We don’t typically see PT practices in the 50-75% profit range but we do see 10-25% margins and PT clinics doing over $1 million in revenue. On an average we tend to see practices ranging from $100,000 to $250,000 a year in profit.
- Is A Physical Therapy Degree Worth It?
If you are a person who wants a career that is rewarding, impactful, and that helps the community as well as the people around you, then Yes, getting a Physical Therapy degree is worth it.
- How Do I Start A Physical Therapy Business?
1. Create a business plan2. Go through a Pro Forma – there are many tools for this.3. Establish is this going to be a viable venture for you (and your business partners if you have any) and if you can earn enough money in the marketplace.4. Create a trusted team including a legal advisor and financial advisor or banker and hire an accountant. A CPA who specializes in Healthcare and understand what you can do legally but also ethically.5. Have enough revenue in reserve so you can pay yourself and your bills while trying to grow, scale and expand the business. This may require taking a loan or line of credit – try to avoid a personal loan. An SBA loan is a good option.
- How Do You Value A Physical Therapy Business?
The value of the business equals your EBITDA or how profitable the business is. Fair market value, profitability times a multiple. EBITDA – stands for earnings before interest, taxes, depreciation and amortization which is part of an accounting formulation used to calculate your business’ value.
- How Much Does A DPT Make An Hour?
There is usually a range but the averages are $30 to $35 an hour in a salaried setting. Of course a benefits package can add to this. Outpatient settings can also increase hourly wages.
- How Many Patients Can A Physical Therapist See In An Hour?
A Physical Therapist sees 1 to 2 patients per hour. This has changed dramatically where years ago a PT was able to see 3 to 4 patients per hour. Changes and expectations in the marketplace and medical billing have led to this.
- How Many Hours Per Week Does A Physical Therapist Work?
Our PT patients treat for 39.5 hours a week with 30 minutes of Admin work per week in a salaried setting. We also have a weekly team meeting. Many Physical Therapists not only have a full time 40-45 hour a week profession but also moonlight with home help or at sports clinics, etc. This can boost a PT’s salary and hourly compensation.
- How Much Money Should A Physical Therapy Practice Owner Spend On Marketing?
The Physical Therapy industry average spent on Marketing is 1.2% to 1.8% of total revenue. Unfortunately much of this is actually spent on debt, bad services or in the wrong places. Best practices are to spend 10% of your total revenue on marketing your PT Practice.
- Any information relevant to a new start up business?
- For most of us, when we're opening our first location, getting people in the door and on the schedule is the very first priority. So, marketing is where you want to begin if you have a brand new start up business.
- How can I improve patient compliance and reduce cancellation rate?
- Here are six ways that we found across the therapists that we work with that improve patient compliance and reduce cancellation rate.
- Have a standardized format for evals.
- Schedule the full plan of care - all visits - during the first eval.
- Test, treat, and re-test at every visit.
- Explain the three phases of healing.
- Send an appointment reminder the day before the visit.
- Have everyone ask "When do we see you next?"
- Onboarding multiple employees at the same time – how do I ensure we stay on track when trained employees are stretched thin?
- The first step is to have the new do nothing more than watch what the experienced competent person is doing. And as their competency and confidence increases, they can start taking on a workload.
- Looking to get out of low paying insurers or how do I negotiate a higher rate?
- The first thing that you do is you go through your entire patient list and you look for the companies that are great to work with. The ones that love conservative care and are consumers of conservative care. Once you start to create that list, ask what do those people have in common?
If it's an insurer, maybe they work at the same place. Once you find this common thread, you think of ways to market directly to these people.
- Marketing to physicians when COVID stops us at the door?
- Try sending a mailing piece every single month to the referral sources in your area.
- How do I get past the gatekeepers to the doctors themselves?
- First you want to make sure the "gatekeepers" aren't actually the decision makers. What we discovered is that the office staff typically can override where the patients are being sent in many cases. So it's actually good to network directly with them.
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