The Cards Are Stacked Against US Private Practice PTs: Let’s Turn The Tables

Healthcare trends are against us…Can we Survive? I think so…

“The mass of men lead lives of quiet desperation…” – Henry David Thoreau

I am bummed that it's over but I saved the best for last.

This is the last part in this series…and I’ve got so more to share with you on mistakes I’ve made myself…and how we’re wasting time, money and energy in Private Practice…

None-the-less, here’s a quick recap of what we’ve covered so far:

In Part 1, we talked about the problem of being too reliant on physician referrals…and how it’s possible to change your New Patient distribution from physician heavy to direct access and past patients…and why it’s important you do this now.

In Part 2, we covered the mistake of wasting money on marketing…and how we as Private Practice PTs only consider “media” when we’re considering our mistakes. The solution to this is knowing, understanding and implementing Dan Kennedy’s Market-Message-Media Match Triangle.

In Part 3, we shared the #1 Single Biggest Mistake I see Private Practice Owners making in their marketing…specifically with physicians. We covered the New Rule of Physician Marketing AND how knowing this has helped me average 40 New Patients per month…from POPTS physicians.

In Part 4, we looked at the #1 Single Most Important Marketing System for growing your Private Practice…whether you’re a one PT shop…or a 25 clinic behemoth. (I’m amazed at some of the success stories being posted about this Workshop System…in the BPTM Inside Circle Secret Facebook Page).

In Part 5, we discussed the mistake of “not knowing the numbers”…and the 4 Levels of Knowing Your Numbers.

In Part 6, we covered the mistakes of thinking “we just need to work hard”…and how this leads to an effort of playing victim and reinventing the wheel…rather than investing our time learning from people who’ve already done what we want to do…solved what we want to solve…and are where we want to be.
In Part 7 here…I want to delve into the feeling of desperation that most of us experience as Private Practice Owners…and how to solve it…

Hey Look! We Are Underdogs Here…

unfair-advantage

The quote at the beginning of this blog post is from Thoreau’s Walden.

It’s essentially a timeless “The One Thing” (the Gary Keller book I recommended earlier in this series)…written nearly 170 years ago…

Walden is one of the only books I’ve read more than once cover-to-cover…

Here, I want to focus on the quote…and again that feeling of desperation we can fall prey to as Private Practice PTs…

Playing Victim…Martydom…and the Sky Falling…

Hey look…

Private Practice Physical Therapy Ownership is NOT EASY…

And it’s not getting any easier…

The trends for us today in the US Healthcare economy include:

  1. Larger and larger hospital systems buying referral sources…and limiting their referrals and communication to Private Practice PT (and an array of other health professions)…
  2. A growing trend in POPTS practices…especially among orthopedic and specialist groups…
  3. The allure of Direct Access…and not knowing how to attract Direct Access Patients…
  4. And Declining Reimbursements…More Paperwork…More red tape…so more work for less pay…with insurance companies.

The typical Private Practice PT Owner encounters at least one of these…if not all 4…on a daily basis.

Throw in the stresses of a staff member who’s gossiping skills are better than her marketing skills…

Making payroll on time…

ICD-10 changes…

EMR and billing system updates…

And missing your daughter’s soccer game to see that patient who demanded to see you…

And life can get hectic…Stressful…And Desperate.

If you’re going through this…or have been through it…

I know how you feel…

I went through this for years…

And what I found is this…

I Have An Unfair Advantage Over You…But You Can Have It

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There’s a pretty good chance when and if you’re feeling down and out, battered and bruised, beat up…

Most of us in Private Practice don’t have other Practice PT Owners to turn to…let alone other Practice Owners in the same situation who can relate to us…let alone other business owners…let alone other business owners who know what we’re going through…
The next place we usually get advice from…seek counsel from…is people who’ve never been through what we’re going through.

They usually mean well…

And may still be your best friend…or even a family member…or trusted colleague.

But often their advice is based on speculation…or something they’ve heard someone else say…

And that gets us nowhere closer to our goal of owning a successful Physical Therapy Private Practice…

The Mistake here…Mistake #7…is not investing in our support network.

That’s right…you’re going to have to spend some time, money and energy in not only developing yourself (you are your own best investment after all, right?!)…but also in building your support network…the people around you.

Here’s How to Succeed…

Before I share with you a system…just want to do a quick reveal about something that’s super unfair to you…

As I’m writing this…you may have the wrong impression that my Private Practice journey has been without potholes, bumps in the road and absolute disasters…

That’s unfortunate…

You might see that my YouTube channel just surpassed 8,000,000 views…or have seen on one of the webinars how we’ve grown into a 10,400 square foot PT clinic with 26 staff doing $2.4 million a year in income…or how I’ve written books on back pain or my new book, Killer Marketing Secrets…

Now you may be way beyond where I’m at…and if so, that’s great!

If not, do not be discouraged…

It wasn’t always like this.

Now I’ll say I may have an unfair advantage…and it’s this…

My Support Network…and How You Can Systematically Build One…

See, in the beginning I thought my success was all about me and what I knew and what I could do…

And was I 100% absolutely wrong…

What I quickly learned was that my success was really about the other people I was associated with…those on my team…and the answers WE had.

Here’s how I built my network…and how you can too.

  1. At the foundation of my network….I have 3 mentors. All are family men…husbands, fathers, grandfathers. All 3 are super successful business men with 30+ year careers. None are in healthcare services. All 3 have shared their time and expertise. ***The most surprising thing here is…the more successful people become…the lonelier they can become…and the MORE they want to pay it forward and share with ambitious people just like you and me (many times we will remind them of themselves early on). I’ve never been turned down for a phone call, interview, lunch, coffee, etc. by someone who was truly successful…EVER. (And I bet the true rejection rate of everyone who will ever read this is actually quite a bit lower than we would ever collectively think).
  2. Don’t share your business life with people who can’t relate. I’ve gotten myself into trouble too many times talking with family members or friends about business…especially early in my career. We all have our strengths…I have a super good friend who’s an awesome guy…and we can fish, play cards, hang out and drink a beer, or smoke the once/year cigar…and have a great time talking about aspects of life that are NOT business. (He’s not a business owner…he drives a tractor trailer overnight). One time, I was fresh off a meeting with my CPA…who let me know I had an $83,000 quarterly tax bill…and unfortunately I carried my shock with me out to dinner with him and his wife, and my wife and I…he knew I was bumming…and I let it out of the bag…not the best outcome. And doing so made me look like an ass…or at least feel like one. Don’t make the same mistake with your brother-in-law or neighbor. It’s OK to talk about sports, your kids, growing tomatoes, and the weather with some people…and not talk about your business with everyone.
  3. Join a mastermind group. I’ve been in several over the past 16 years…and they’re great. I’m in 1 presently with 160 entrepreneurs from North America, UK, South Africa, and Australia. It’s a great place for me to share with others who I know will appreciate, respect and implement from my life experiences…And the thing I love about it the most…and I think you will too…is how another member of your mastermind can give you a solution in 5 minutes…after you’ve been wrestling with the problem for the last 3 weeks. Being in a good mastermind full of people who are where you want to be…or are going where you want to go…literally will change the conversation you have going on in your mind. It will grow towards the conversation of a successful private practice owner who makes sound business decisions.
  4. Avoid people giving advice who are the beneficiaries of economic outpatient care. What’s economic outpatient care? It’s when the person is living off of the success of their parents…And it’s a lot more common than you think. I’m new money (started with nothing but a college education and a $50,000 SBA line of credit in my own name)…and I’ve noticed some people can appear largely successful…based on how they spend money. Unfortunately in those cases…it’s often the banks’ money…or worse yet, their parents’ money. If you ever get the whiff that someone who is giving you advice didn’t make their money themselves…turn and run as fast as possible. At the least, don’t take their advice.
  5. Invest in an Experienced Coach…someone who is where you want to be…because they did what you want to do.
    So that’s how I’ve managed to build a support net…3 bits on who to flock to and cultivate relationships with…and 2 bits on who to avoid.

I think anyone can do this too…if they take the time to.

Remember YOU are your own best investment (and this includes your support network).

A Unique Invitation to Join a Group of Ambitious Driven Private Practice PT Owners
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First, if you’re not in private practice PT…just skip this part. (But Thank You for reading my blog!)

If you are in Private Practice PT…and you’re serious about taking your practice to the next level…

Over the past 18 months, we here at BPTM have built a group of nearly 300 Private Practice Owners from all over the US…and a few international physios from Australia, Malaysia, and now Canada.

Anyhow, we share exactly what we’re doing to succeed in Private Practice…

  • How to Attract Direct Access Patients and Not Rely on Physician Referrals
  • Facebook and Google Ad Words Advertising
  • How to Build a Complete Patient Experience Funnel
  • How to Survive Hospital Systems Buying Up Referral Sources
  • How to Get Referrals from POPTS Physicians

I’ll be opening up another Direct Access Marketing class soon…and we just passed the class being 50% full…so we have a couple spots left.

If this sounds like you…and you’re interested…then you’ll need to apply to join the group.

The class is called the Killer Direct Access Marketing Training

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What is Killer Marketing Training?

For the Killer Physical Therapy Practice Owner Marketing Training…you just need to realize 2 things:

  1. We’ve had a steady run of POPTS and hospital based PTs trying to get into the course (1 POPTS practice tried to enroll 3 times!)…
  2. The last time we opened enrollment to Killer Marketing Training…we had to close it in 3 days…because we exceeded the cap of 60. (We closed it at 75).

So because of the 2 above items, we’re getting super picky about the Private Practice PTs we’re working with……
If you’re serious about taking your practice to the next level and think you’re a good candidate for the next class go to https://breakthroughptmarketing.com/direct-access-marketing-course/
Complete the application.
You’ll schedule a call with one of the Coaches I work with to make sure you’re a good fit for the program…
Once in I’ll be happy to show you how to build direct response marketing systems in your practice…
No need to be lonely.
Talk soon,

Chad
PS – I hope you’ve enjoyed the 7 Mistakes of Private Practice PTs series…If you have a question about Private Practice PT…just post below…or send me an email at chad@breakthroughptmarketing.com and write “Blog question” in the subject line.
PPS – Again the link to apply for my next Killer Marketing class…and join literally hundreds of other like minded Private Practice PTs just like you…is https://breakthroughptmarketing.com/direct-access-marketing-course/

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