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Frequently Asked Questions
What is Direct Access?
Direct access is the ability for a licensed physical therapist to see a patient and be reimbursed for the, that the products and services, uh, without a physician referral.
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.
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 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.
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.
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 plan
2. 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 EBIDTA or how profitable the business is. Fair market value, profitability times a multiple. EVEN – 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.
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