Dr. Joe Simon http://drjoesimon.com Your Physical Therapy Practice Mentor Tue, 11 Jun 2019 16:51:25 +0000 en-US hourly 1 https://wordpress.org/?v=5.2.4 http://drjoesimon.com/wp-content/uploads/2019/05/cropped-joesimon_favicon-e1556728061156-32x32.png Dr. Joe Simon http://drjoesimon.com 32 32 Your Physical Therapy Practice Mentor Dr. Joe Simon clean Your Physical Therapy Practice Mentor Dr. Joe Simon http://drjoesimon.com/wp-content/plugins/powerpress/rss_default.jpg http://drjoesimon.com Do YOU Know YOUR Metrics to Success? – Private Practice Business Academy http://drjoesimon.com/2017/05/private-practice-admin-consulting/ Fri, 12 May 2017 00:27:15 +0000 http://privatepracticebusinessacademy.com/?p=1516 http://drjoesimon.com/2017/05/private-practice-admin-consulting/#respond http://drjoesimon.com/2017/05/private-practice-admin-consulting/feed/ 0 <p> Do you know the four, main metrics by which you can measure your practice’s health.<br /> The thrill of being a practice owner was invigorating, and—as Dee will admit—the newfound mantle of “ownership” cast a happy, king-of-the-castle veneer over every emerging obstacle and problem.<br /> Dee and her husband went from 90 visits per week, to more than 300 visits per week in just six years—a 300% increase—and their once abysmal arrival rate is now higher than 95%. But the MOST important change Dee made to transform her business?</p> <p>Well, you’ll just have to listen to the episode to find out… </p> <p>The post <a rel="nofollow" href="http://drjoesimon.com/2017/05/private-practice-admin-consulting/">Do YOU Know YOUR Metrics to Success? – Private Practice Business Academy</a> appeared first on <a rel="nofollow" href="http://drjoesimon.com">Dr. Joe Simon</a>.</p> Dee Bills of Private Practice Administrative Consulting

[Tweet “Do you know the four main metrics you use to measure your practice’s health #bizpt #ptpreneur”]

Do you know the four, main metrics by which you can measure your practice’s health?

Neither did today’s guest, Dee Bills—a physical therapist turned owner of Private Practice Administrative Consulting—until she sat down and figured them out (more on this later).

After nearly two decades of working in the private practices of others, Dee decided to buy her own practice in 2005 from the hospital where her husband worked at the time.

At first, everything was great.

The thrill of being a practice owner was invigorating, and—as Dee will admit—the newfound mantle of “ownership” cast a happy, king-of-the-castle veneer over every emerging obstacle and problem.

But after five years of life as a small business owner and PT practitioner, the gilded veneer of “ownership” had worn completely off. Dee was tired, frustrated, and left facing some stark realities—both economic and operational—about the future of her business…

…Realities that required immediate change if her practice was going to survive into 2011.

(Remember when I said more on this later?)

So, Dee sat down, looked at the numbers, and identified for main metrics she’d need to boost in order to keep her business afloat:

  1. New patients
  2. Patient visits
  3. Collections
  4. Overall Production

To get back to being a healthy, profitable practice, Dee discovered she needed more new patients, more visits from existing patients, better collections processes, and more productivity overall.

That would mean putting a more effective billing process in place, installing an employee training program for the first time ever, measuring key metrics on a monthly basis to assess the health of the business, implementing a cancellation policy, and partnering with a collections agency.

The result?

Dee and her husband went from 90 visits per week, to more than 300 visits per week in just six years—a 300% increase—and their once abysmal arrival rate is now higher than 95%.

But the MOST important change Dee made to transform her business?

Well, you’ll just have to listen to the episode to find out…

By the way, don’t forget to share your feedback about this episode with me on Twitter @DrJoeSimon with the hashtag #DeeBills

  • 04:35 – Dr. Joe introduces Dee Bills, owner of Private Practice Administrative Consulting
  • 04:47 – Dr. Joe and Dee met on LinkedIn
  • 05:18 – Dee is a physical therapist
  • 05:26 – She’s spent roughly 18 years working in private practice
  • 05:44 – In 2005, Dee and her husband bought their current practice from the hospital where her husband worked
  • 05:57 – 2010 and 2011, they realized if they didn’t make a change, they wouldn’t survive
  • 06:07 – They sought consulting and Dee’s husband received training which grew their practice 30% in 6 months
  • 06:20 – Dee got into the practice and began to help build their systems of billing
  • 06:48 – What Dee realized was that they didn’t really have any systems in place
  • 06:52 – There was no staff training or metrics to assess how they were doing
  • 07:01 – There were problem at the front desk
  • 07:17 – It was Dee who created systems for their practice
  • 07:21 – They ran a 95% arrival rate for 3.5 years
  • 07:53 – “Most practice owners are technicians of their PT”
  • 08:48 – If they didn’t make a change, they probably wouldn’t have survived
  • 09:08 – They started at 90 visits per week in 2011
  • 09:17 – After their training, they’re now at 300 visits per week
  • 09:51 – A clinic owner must understand 4 main metrics a practice continually generates:
    • 10:02 – New Patients
    • 10:03 – Patient Visits
    • 10:05 – Collections
    • 10:06 – Overall Production
  • 10:53 – As owners start to outsource their collections, they tend to step back
  • 11:17 – Collections is one of the most important metrics to follow as it comes down to the money
  • 11:43 – A biggest problem that front desk faces is confrontations
  • 13:28 – There are 5 things Dee tracks at the front desk:
    • 13:36 – Track your arrival rate and improve it
    • 14:00 – Have a cancellation policy
    • 14:11 – Have procedures in place
    • 14:35 – Teach the front desk rep to properly educate the patient on their policies
      • 14:42 – “The goal is preventing cancellation”
    • 15:00 – Have training for the front desk
  • 15:42 – Start tracking your arrival rates!
  • 17:31 – Without testing something new, owners won’t realize what they’re doing wrong
  • 18:29 – There’s almost no training out there for front desk employees
  • 18:40 – The big thing that worked for Dee was using scripts when training their staff
  • 19:52 – We don’t have a policy that patients just come in and sign, our staff sit down and explain the policies to them point-by-point
  • 20:01 – First benefit to this is that the staff will  understand that policy better
  • 20:08 – And second, it gives the staff authority and the patients more accountability to follow procedure, especially in regards to cancelling appointments
  • 20:56 – Train your staff well before having them handle patients
  • 22:20 – “Your front desk is your gatekeeper”
  • 23:02 – “Your front desk is just as valuable as your PTs”
  • 24:39 – Smaller practices are Dee’s audience
  • 25:59 – Dee is just focusing on helping small practices right now
  • 27:45 – Connect with Dee on LinkedIn, on her website, or send her an email
  • 28:37 – Helping smaller business owners to advance is HUGE for Dee
  • 30:30 – Leave us a message at Private Practice Administrative Consulting
  • 31:22 – Please leave us a review on iTunes!

3 Key Points:

  1. Embrace change, adapt to it – it may be the answer to your survival.
  2. Start using metrics so you KNOW just how well you’re doing and don’t forget to track them!
  3. Invest time and effort into staff training; teach your staff how to educate your patients on your policies.

The post Do YOU Know YOUR Metrics to Success? – Private Practice Business Academy appeared first on Dr. Joe Simon.

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Do you know the four, main metrics by which you can measure your practice’s health. The thrill of being a practice owner was invigorating, and—as Dee will admit—the newfound mantle of “ownership” cast a happy, Do you know the four, main metrics by which you can measure your practice’s health.<br /> The thrill of being a practice owner was invigorating, and—as Dee will admit—the newfound mantle of “ownership” cast a happy, king-of-the-castle veneer over every emerging obstacle and problem.<br /> Dee and her husband went from 90 visits per week, to more than 300 visits per week in just six years—a 300% increase—and their once abysmal arrival rate is now higher than 95%. But the MOST important change Dee made to transform her business?<br /> <br /> Well, you’ll just have to listen to the episode to find out… Dr. Joe Simon clean 32:19
Behind the Scenes Facebook Marketing for YOUR Private Practice – Private Practice Business Academy http://drjoesimon.com/2017/04/fb-marketing-for-pt/ Tue, 18 Apr 2017 10:51:01 +0000 http://privatepracticebusinessacademy.com/?p=1513 http://drjoesimon.com/2017/04/fb-marketing-for-pt/#respond http://drjoesimon.com/2017/04/fb-marketing-for-pt/feed/ 0 <p> Facebook has transformed what it means to advertise with precision and accuracy, offering businesses both big and small highly-focused consumer targeting that brings the biggest bang for the fewest bucks. In this highly-informative, highly-candid conversation, Callum and I sit down to discuss his origins as a Facebook marketing expert, his theory regarding Interest-based Targeting vs. Behavioral Targeting, his strategy for testing different geographical markets for advertising, how his strategies can be applied to physical therapy offices, and much, much more. </p> <p>The post <a rel="nofollow" href="http://drjoesimon.com/2017/04/fb-marketing-for-pt/">Behind the Scenes Facebook Marketing for YOUR Private Practice – Private Practice Business Academy</a> appeared first on <a rel="nofollow" href="http://drjoesimon.com">Dr. Joe Simon</a>.</p> Callum Davies of Callum Davies Consulting

[Tweet “Learn these 3 easy ways to use FB in you PT Practice #promotePT #bizpt”]

Facebook has transformed what it means to advertise with precision and accuracy, offering businesses both big and small highly-focused consumer targeting that brings the biggest bang for the fewest bucks. x With as many as 1.2 billion (yes—that’s billion with a “b”) active daily users, Facebook gives marketers and advertisers a single point of access to every type of person imaginable, regardless of traditionally limiting demographics like age, race, profession, location, or socio-economic standing.

So, when physical therapy practices need to broaden their patient base and bring in new business, there are few mediums as effective as Facebook for doing so.

And few people know this reality as well as Callum Davies, an industry-leading Facebook advertising specialist who helps physical therapists and chiropractors attract new patients, particularly patients who have suffered automotive-related injuries.

Using copy that stresses both urgency and scarcity, Callum crafts creative, impactful Facebook advertisements that help his clients acquire leads for as little as $2.50 each.

And by focusing the campaigns he designs on local geographical targets (within five to ten miles of his client’s offices) Callum is making sure a sizable percentage of these two-dollar and fifty-cent leads convert into paying patients worth hundreds (if not thousands) of dollars to his clients.

The level of success Callum has achieved thus far—not only for himself, but his clients as well—is why his status as a Facebook marketer is skyrocketing.

In this highly-informative, highly-candid conversation, Callum and I sit down to discuss his origins as a Facebook marketing expert, his theory regarding Interest-based Targeting vs. Behavioral Targeting, his strategy for testing different geographical markets for advertising, how his strategies can be applied to physical therapy offices, and much, much more.

Time Stamped Show Notes:

  • 04:35 – Dr. Joe welcomes Callum Davies, a world leader in Facebook as a specialist for auto injury ads
  • 04:56 – More listeners are asking advice about how to run Facebook ads
  • 05:29 – Callum runs Facebook ads because it’s an area of advertising where chiropractors struggle
  • 06:01 – He spent $40K for an education in ads
  • 06:12 – He lives in London, but is moving to Boca Raton in May
  • 07:09 – Facebook has 1.2B daily users – it’s the platform that gives you access to the most people
  • 07:35 – Facebook gives you every type of person
  • 07:39 – Any kind of business should be on Facebook because of the large audience it provides you
  • 08:01 – Adword Ads vs. Facebook Ads
  • 08:22 – In Facebook, money is NOT going to be wasted on the wrong people
  • 09:33 – Let’s say a client spends $500 and doesn’t get a return—what went wrong?
    • 10:16 – When it comes to auto entry, 90% of success comes from targeting
    • 10:32 – Some marketers are too lazy to delve deep enough into the platform
    • 10:44 – Always check your landing pages
    • 11:08 – Check your copy, it needs to convey urgency
    • 11:26 – Use scarcity to create the urgency
    • 11:59 – The biggest thing to check is the actual radius of your ad for the people you are targeting
  • 13:51 – Getting a radius of clients that are within 5-10 miles of your business gets the best returns
    • 14:29 – Even if you’re in a 5-10 mile radius, your services MUST be set apart from the ones in the same area and this is conveyed through your copy
    • 14:54 – Generally, a 5-10 miles radius works best, but it still depends on the city
    • 15:39 – Make 10 miles your limit
  • 16:06 – Facebook is not allowing certain words to be said in the headline and copy
  • 17:03 – Facebook’s algorithm is hard to understand – you can email a representative for help
  • 17:28 – Ads get rejected when you call out specific attributes
    • 18:12 – Never call out a specific attribute – phrase your sentences as a statement, NOT a question
    • 18:31 – Rather than saying “Are you experiencing pain?”, say “If you’re experiencing pain…”
  • 19:00 – Don’t worry about it when your ads get rejected; just make sure you have 10 approved ads for every 1 rejected ad
  • 20:44 – If you have an agency that isn’t running your ads on your ad account, talk to them and make sure they run it on YOUR account
    • 20:58 – The issue with this is that you don’t get the data if it’s not on your account
  • 21:21 – Callum runs all his ads from his clients’ accounts, so the data is transparent and the client can see exactly what he is doing
  • 21:42 – Conversions and leads are the only things that matter in terms of the data you receive
  • 22:21 – Callum is averaging about $2.50/lead for his clients when it comes to the ads
  • 23:05 – “One word on your landing page can make all the difference”
  • 23:17 – The ad gets the click, the landing page persuades people to act
  • 23:41 – The “thank you” page encourages people to call your practice
  • 24:58 – Add enough urgency in your copy
  • 25:54 – The majority of ads offer a free service
  • 27:52 – Dr. Joe always discusses the right way to target ads with his clients, as this is their usual struggle
  • 29:13 – When targeting, understand that you’re looking for the specific interests of a target audience
    • 30:08 – Go through all the brands of your target industry and type them in the targeting section
    • 30:25 – If your audience is small, you can still build your audience with algorithms
    • 30:48 – But, the best way is targeting people based on an interest
  • 31:19 – “Test what works best for you” in regards to radius targeting
  • 31:43 – Interest-based Targeting vs. Behavioral Targeting: Facebook can track what you like and dislike and also the activities/behaviours that you engage in online and offline just by watching what you do on Facebook
  • 32:52 – Facebook knows everything about you – which makes targeting more powerful
  • 34:00 – Reach out to Callum on LinkedIn
  • 34:20 – Callum’s specializes in executing the entire ads process for chiropractors and physical therapists
  • 35:20 – He also does a little coaching on the side
  • 38:20 – Callum’s niche is “getting people calls” for local businesses
  • 39:27 – Please leave us a review on iTunes!

3 Key Points:

  1. Facebook ads have the ability to reach a specific, target audience; you won’t waste money on unqualified leads.
  2. 90% of your success from Facebook ads come from your targeting—aim for people that are within 5-10 miles of your business.
  3. Remember to create a sense of urgency and scarcity in your copy; this will set you apart from your competitors.

The post Behind the Scenes Facebook Marketing for YOUR Private Practice – Private Practice Business Academy appeared first on Dr. Joe Simon.

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Facebook has transformed what it means to advertise with precision and accuracy, offering businesses both big and small highly-focused consumer targeting that brings the biggest bang for the fewest bucks. In this highly-informative, Facebook has transformed what it means to advertise with precision and accuracy, offering businesses both big and small highly-focused consumer targeting that brings the biggest bang for the fewest bucks. In this highly-informative, highly-candid conversation, Callum and I sit down to discuss his origins as a Facebook marketing expert, his theory regarding Interest-based Targeting vs. Behavioral Targeting, his strategy for testing different geographical markets for advertising, how his strategies can be applied to physical therapy offices, and much, much more. Dr. Joe Simon clean 41:06
The Tupler Technique is Ripe for Market Expansion…Are YOU? – Private Practice Business Academy http://drjoesimon.com/2017/04/tupler-technique/ Tue, 11 Apr 2017 02:38:36 +0000 http://privatepracticebusinessacademy.com/?p=1510 http://drjoesimon.com/2017/04/tupler-technique/#respond http://drjoesimon.com/2017/04/tupler-technique/feed/ 0 <p> Tune-in to hear Julie and I discuss the origins of the Tupler Technique®, how she created a business model around her technique, how she grew her Tupler Technique® practice, and much, much more<br /> In fact, her technique has been so effective, it’s now being used by men, abdominal surgery patients, and back-pain sufferers, in addition to pre- and post-natal women.</p> <p>Not a bad marketplace expansion, right? </p> <p>The post <a rel="nofollow" href="http://drjoesimon.com/2017/04/tupler-technique/">The Tupler Technique is Ripe for Market Expansion…Are YOU? – Private Practice Business Academy</a> appeared first on <a rel="nofollow" href="http://drjoesimon.com">Dr. Joe Simon</a>.</p> Julie Tupler

 [Tweet “Any person complaining that they back pain should check their diastasis #trypt1st”]

 There are few experiences that can rival the birth of your first child.

And, if you’re the mother, there are few experiences that can rival child birth for utter havoc it wreaks on the body.

Fortunately, the medical world is awash in individuals trying to make the joyous misery of child birth a little less catastrophic. People like today’s guest, Julie Tupler.

A registered nurse, certified fitness instructor, and highly regarded teacher, Julie has spent the last 25-years refining an exercise program designed to help both pre- and post-natal women treat diastasis recti (stretching of the abdomen’s connective tissue leading to separation of the muscles).

She calls it the Tupler Technique® and its results are simply fantastic. In a study conducted in partnership with Colombia University, researchers found Julie’s technique not only helped patients repair damage to their diastasis, but repair as much as 55% of the damage in as little as six-weeks.

In fact, her technique has been so effective, it’s now being used by men, abdominal surgery patients, and back-pain sufferers, in addition to pre- and post-natal women.

Not a bad marketplace expansion, right?

Today, in addition to patient treatment and the products she retails on her website www.diastasisrehab.com, Julie trains other medical professionals, like midwives, osteopaths, and hernia doctors, in the nuances of her technique.

Tune-in to hear Julie and I discuss the origins of the Tupler Technique®, how she created a business model around her technique, how she grew her Tupler Technique® practice, and much, much more…

Time Stamped Show Notes:

  • 04:46 – Dr. Joe welcomes Julie Tupler
  • 05:35 – Julie is a registered nurse, an educator and a fitness instructor
  • 05:40 – She’s been developing the Tupler Technique for 25 years now
  • 05:51 – She worked with pre- and postnatal women and her company was called Maternal Fitness
  • 06:14 – Julie believes labor is a mind-body connection
  • 06:43 – She wrote her first book, Maternal Fitness
  • 06:50 – One PT who was teaching her program said their diastasis recti was getting smaller
  • 07:15 – Julie went to Columbia University to ask if they were interested in doing a study on the Tupler Technique
  • 07:35 – The results showed that people who used the Tupler Technique had smaller diastasis than those who didn’t
  • 07:58 – A large diastasis can lead women to getting a C-Section
  • 08:26 – In 2009, Julie closed her studio and opened Diastasis Rehab for men, women, and children
  • 09:01 – She also works now with people who are having any type of abdominal surgery
  • 10:08 – In 2004, Julie wrote, Lose Your Mummy Tummy
  • 10:22 – Julie is launching a new book this April
  • 10:35 – On her website, she updated her statistics stating that on the 6th week of the program, the diastasis was 55% smaller
  • 10:54 – Julie worked with an osteopath in California
  • 11:06 – The osteopath wanted to incorporate Julie’s program into his practice
  • 11:22 – Julie saw he was working in a company called RegenX and asked if he was willing to do a platelet procedure on the linea alba
  • 11:40 – The project ran for 18 weeks
  • 11:54 – In week 4 of the program, they injected platelets in the connective tissue above and below the belly button
  • 12:26 – The found that the connective tissue became bigger
  • 12:49 – Julie’s program is about healing the connective tissue
  • 13:52 – “We want to protect connective tissue from getting stretched”
  • 14:24 – It’s really important upon movement to be able to engage the transverse muscles with several types of stretching
  • 16:00 – Exercises are done in sitting position because it’s the best position to strengthen the transverse muscle
  • 17:33 – Pelvic floor therapy is very prevalent these days
  • 18:14 – There is an important connection between the pelvic floor and the transverse muscle; therefore, as you do pelvic floor therapy, address the diastasis as well
  • 18:32 – Diastasis can also help people with back pain
  • 19:45 – Any person complaining that they back pain should check their diastasis
  • 20:25 – Julie invented the diastatometer
  • 21:12 – When Julie trains other medical and fitness professionals who are learning her technique, there’s an 8-week home study program that they have to do themselves and they also need 2 case studies
  • 21:35 – They also come to New York for 3 days of testing: written testing and performing a demonstration
  • 22:07 – Medical professionals can use the training however they like
  • 22:33 – Dr. Joe lists 3 ways to grow your practice from learning the Tupler Technique:
    • 22:50 – Creating relationships with midwives and doctors, osteopaths using RegenX
    • 22:56 – Connecting with hernia doctors, as well
    • 23:49 – Also connect with internal medicine doctors
  • 24:34 – It’s very easy to connect with midwives as there is a growing demand for midwives in the country
  • 25:03 – Physical therapists should also look at scar mobilization with a client’s c-section scar
  • 25:53 – Julie still sees clients and trains people 3x/year
  • 26:08 – She will be holding a seminar for any PTs on Monday, April 24, 2:00-5:00 in the Union Square Area, NYC
  • 26:38 – Check out Julie’s course at Tupler Technique
  • 27:32 – Check out Julie’s website and enroll in her course
  • 29:18 – You can buy her products wholesale, on her website
  • 32:53 – Please leave us a review on iTunes!

3 Key Points:

  1. Keep an open mind, especially when it comes to learning new therapies that can heal your body.
  2. The Tupler Technique can open up a new revenue stream for your practice, attracting those needing pelvic floor therapy and pre and postpartum clients as well.
  3. Creating relationships with professionals in mutually beneficial fields can open the door to more business and better care for clients.

The post The Tupler Technique is Ripe for Market Expansion…Are YOU? – Private Practice Business Academy appeared first on Dr. Joe Simon.

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Tune-in to hear Julie and I discuss the origins of the Tupler Technique®, how she created a business model around her technique, how she grew her Tupler Technique® practice, and much, much more In fact, her technique has been so effective, Tune-in to hear Julie and I discuss the origins of the Tupler Technique®, how she created a business model around her technique, how she grew her Tupler Technique® practice, and much, much more<br /> In fact, her technique has been so effective, it’s now being used by men, abdominal surgery patients, and back-pain sufferers, in addition to pre- and post-natal women.<br /> <br /> Not a bad marketplace expansion, right? Dr. Joe Simon clean 33:19
The Truth About Patient Acquisition in YOUR Practice – Private Practice Business Academy http://drjoesimon.com/2017/03/jeff-hirz-of-whole-body-health/ Wed, 29 Mar 2017 15:06:26 +0000 http://privatepracticebusinessacademy.com/?p=1501 http://drjoesimon.com/2017/03/jeff-hirz-of-whole-body-health/#respond http://drjoesimon.com/2017/03/jeff-hirz-of-whole-body-health/feed/ 0 <p> Most physical therapists rely on intermittent doctor referrals and participation in local events as a source of new patients. A pattern that is both inefficient and risky. Ask yourself this question, if those intermittent referrals stopped coming in tomorrow, would my practice survive?<br /> It is a scary proposition. </p> <p>The post <a rel="nofollow" href="http://drjoesimon.com/2017/03/jeff-hirz-of-whole-body-health/">The Truth About Patient Acquisition in YOUR Practice – Private Practice Business Academy</a> appeared first on <a rel="nofollow" href="http://drjoesimon.com">Dr. Joe Simon</a>.</p> Jeff Hirz of Whole Body Health

[Tweet “Every successful physical therapy practice needs a healthy, sustainable model for patient acquisition”]

Every successful physical therapy practice needs a healthy, sustainable model for patient acquisition. However, the unfortunate reality is that very few practices actually have one.

Why?

Most physical therapists rely on intermittent doctor referrals and participation in local events as a source of new patients. A pattern that is both inefficient and risky. Ask yourself this question, if those intermittent referrals stopped coming in tomorrow, would my practice survive?

It is a scary proposition.

But that’s where today’s guest, Jeffery Hirz, comes in.

Jeffery owns a digital marketing agency called Hemmingway Marketing. His company partners with chiropractors and other medical practice owners like physical therapists to bring new patients in the door with predictability.

Jeffery’s mission is to help doctors and therapists eliminate the pain-point of patient acquisition, so they can better focus on eliminating the pain-points of patients.

Through strategic Google and Facebook ad campaigns that place an emphasis on advertising the condition (pain) as opposed to the therapy practice (solution), Jeff can bring his clients anywhere from20-30 new patients every month.

Taken over a year, that’s anywhere from 240 to 360 additional patients and revenue streams.

Think about that for a moment. What would an extra 240 to 360 patients do for your billing hours? How much would that help your bottom line?

Exciting, isn’t it?

Tune in to hear Jeff and I speak in greater detail about how his company is changing the game for several therapy practices, and learn why he believes every therapy practice—yes, even the successful ones—could benefit from the services of Hemmingway Marketing.

Time stamped show notes:

  • 00:21 – Dr. Joe Simon introduces the show
  • 00:33 – PBBA’s first quarter was a blast
    • 00:57 – “In 10 years, this is the best January we’ve had”
    • 01:20 – PBBA has increased its revenue stream
    • 01:53 – “You need more revenue streams to fund your business, to fund your lifestyle”
  • 02:10 – Dr. Joe is holding a free workshop on the first weekend of April
    • 02:23 – It is a private and limited workshop
    • 02:32 – Reserve a slot by texting ACUPT1 to 33444
    • 02:50 – You will have a call with Dr. Joe to see if you’re fit for the workshop, at the moment
    • 03:02 – The workshop will be in New York
  • 03:17 – The ACUPT Business Model
    • 03:26 – Check it out to see how you can use the ACUPT business model
  • 04:12 – Shoot comments, questions, or reviews of this podcast to Dr. Joe by email
  • 04:40 – Dr. Joe introduces Jeffrey Hirz
  • 05:10 – Jeff has been in private marketing for 5 years and in online marketing for 10 years
  • 05:14 – He started his company, Hemingway Marketing, a few years ago
  • 06:40 – Most practice owners don’t have a model for predictable patient acquisition
    • 06:58 – “They don’t have patients unless they go to events”
  • 07:13 – Jeff was able to put in a digital advertising system that predictably drove patients to practice owners
  • 07:35 – Jeff believed that practice owners’ time should be spent on patient care and not on finding patients
  • 08:11 – Most practice owners are technicians
    • 08:23 – They are not really educated in business, especially not in marketing
  • 09:00 – Jeff shares the types of practice owners they’ve worked with
    • 09:06 – They’ve been in the industry for 30 years and struggle with diving into the digital space
  • 10:02 – Jeff shares the number of people they can drive to the practice owners
  • 10:50 – Social media changes the way how people find a service or someone
  • 11:37 – Jeff shares the platform where patient acquisition is more possible
    • 12:11 – Facebook ads and Google AdWords are the platforms where Jeff focuses his efforts
    • 12:21 – The platforms are changing and adapting
  • 12:40 – Jeff shares the type of ads practice owners are using on Facebook
  • 13:12 – People don’t care about the service, but they care about their pain
  • 13:38 – “You don’t want to market the service, you want to market the condition”
    • 14:17 – When you market the condition, the results just multiply
  • 14:40 – When you do your marketing and advertising, even in brochures, don’t list the services you offer but how you can eliminate their pain
  • 16:20 – There’s a growing distrust in mainstream medicine
  • 16:41 – If you’re only offering one service, that is only one piece of the puzzle
    • 17:07 – The opportunity for growth is much more possible if you incorporate medical services
  • 17:15 – Jeff shares how his wife, a chiropractor, makes her patients happy
    • 18:05 – The range of conditions they treat is broader
  • 18:30 – There are people with multiple conditions, but they only seek for one solution
  • 19:30 – Jeff shares how a practice owner can improve his marketing strategy
    • 19:40 – Bring in a marketing person and get him heavily incentivized
    • 20:25 – Don’t do the marketing work by yourself; it’s not your specialty
    • 21:15 – “Marketing is an investment upfront”
    • 22:11 – Focus on what really matters
  • 22:30 – Dr. Joe shares how he was stuck in the same situation as Jeff’s clients and needed to invest in marketing to build his company back up
  • 23:15 – Hiring a marketing person is tough and if they don’t produce, you don’t have to pay
  • 24:30 – Jeff shares how he convinces practice owners who are already earning well without the help of a marketing team
    • 24:40 – Jeff simply points them to the numbers (ex. you can acquire 20-30 more patients/month with this much of an investment)
    • 25:55 – Practice owners realize the they really need to invest in marketing in order to grow
    • 26:03 – Practice owners should also hire someone who has proof that they can deliver
  • 27:16 – Everything is tracked and you can see the results of their marketing efforts
  • 27:46 – “It’s worth the investment—it’s worth the risk to try something new and see the result”
  • 28:13 – There are still agencies who are offering the retainer model which is not a versatile model
  • 29:08 – Having a versatile model can build people’s trust
  • 29:46 – Check out Hemingway Marketing
  • 29:51 – Find Jeff on LinkedIn
  • 29:57 – Call at 440-781-3469
  • 32:00 – Please leave us a review on iTunes!

3 Key Points:

  1. Market the condition, NOT the service itself—people don’t care about the service, they care more about the pain.
  2. Marketing is an upfront investment; hire an expert that will give you results.
  3. Hiring out for your marketing frees you up to focus on what really matters—patient care.

The post The Truth About Patient Acquisition in YOUR Practice – Private Practice Business Academy appeared first on Dr. Joe Simon.

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Most physical therapists rely on intermittent doctor referrals and participation in local events as a source of new patients. A pattern that is both inefficient and risky. Ask yourself this question, if those intermittent referrals stopped coming in to... Most physical therapists rely on intermittent doctor referrals and participation in local events as a source of new patients. A pattern that is both inefficient and risky. Ask yourself this question, if those intermittent referrals stopped coming in tomorrow, would my practice survive?<br /> It is a scary proposition. Dr. Joe Simon clean 32:05
Measuring Metrics to Increase Revenue for Private Practices – Private Practice Business Academy http://drjoesimon.com/2017/01/measuringmetrics/ Sun, 29 Jan 2017 23:00:02 +0000 http://privatepracticebusinessacademy.com/?p=1461 http://drjoesimon.com/2017/01/measuringmetrics/#respond http://drjoesimon.com/2017/01/measuringmetrics/feed/ 0 <p> Winning medical practices (like winning businesses) net 20-30% in profit, quarter-over-quarter, but many of the practices out there are lucky if they bank 10%. And it’s about more than overhead costs and profit margins—new patients, new visits, reimbursement percentages, cancellation rates, retention rates, referrals versus avails, a winning medical practice knows the numbers behind all of these KPIs. Metrics are what enabled Andrew to step back and look at his practice objectively so he could start managing it in a manner that generated real revenue.</p> <p>The post <a rel="nofollow" href="http://drjoesimon.com/2017/01/measuringmetrics/">Measuring Metrics to Increase Revenue for Private Practices – Private Practice Business Academy</a> appeared first on <a rel="nofollow" href="http://drjoesimon.com">Dr. Joe Simon</a>.</p> measuring metrics private practice

[Tweet “You don’t know what you don’t measure.”]

Obvious enough, but how many doctors and physical therapists with private practices actually run their businesses by that credo?

The answer is a frightening one—not many.

Winning medical practices (like winning businesses) net 20-30% in profit, quarter-over-quarter, but many of the practices out there are lucky if they bank 10%.

Of course, they wouldn’t know that…because they’re not measuring it!

A clear understanding of the metrics and numbers behind a practice is absolutely integral. Without that clear understanding, objectively judging the health of the practice is impossible.

And it’s about more than overhead costs and profit margins—new patients, new visits, reimbursement percentages, cancellation rates, retention rates, referrals versus avails, a winning medical practice knows the numbers behind all of these KPIs.

Where to cut, where to reinvest, where to spend—those vital decisions are all tied to the numbers.

And that’s why you’re going to really benefit from today’s interview with guest, Andrew Vertson, physical therapist, metric master, and founder of Intecore Physical Therapy.

Andrew has been in the private physical therapy business for nearly two-decades and in that time he’s learned a lot, including the secret to getting over the hump—metrics.

Metrics are what enabled Andrew to step back and look at his practice objectively so he could start managing it in a manner that generated real revenue.

Listen to learn how Andrew learn how to close the gaps that were stalling growth in his business, and what advice he has for PTs who want to work smarter not harder.

Time Stamped Show Notes:

  • 00:19 – Dr. Joe introduces Andrew Vertson
  • 00:49 – Andrew is a physical therapist in California
  • 00:57 – He has been in private practice ownership for 18 years
  • 01:11 – He currently has 3 offices
  • 01:30 – Over the years, Andrew found out that he can never get over the proverbial “hump”
    • 01:42 – He realized that he was missing management skills of running the practice objectively in terms of looking at the “health” of it
    • 01:55 – That was what drove him to looking deeper into his clinic metrics
    • 02:19 – Andrew’s post on LinkedIn led Dr. Joe to finding him
  • 03:38 – Andrew’s metrics for his practice
    • 03:44 – Andrew had to track the number of new patients and the number of new visits
    • 03:56 – Back then, reimbursements were great and employees’ salaries were low
    • 04:13 – Andrew shares his conversation with a client
      • 04:16 – Andrew’s first job, in 1996, paid $20/hour as a Staff PT
      • 04:30 – He worked for a large corporation for a couple of years
      • 04:40 – One day, one of his co-workers was sick and led him to treat 48 patients that single day
      • 04:51 – He did the math of what he was getting paid and what the company was getting from the patients
      • 05:09 – He didn’t care then
    • 05:21 – 7 years ago, Anthem Blue Cross decided to cut 50% reimbursement
    • 05:33 – 25% of his revenue is from Anthem and he was going to lose about $100K
    • 05:42 – He reached out and consulted
    • 05:54 – He thought of referrals
    • 06:09 – Andrew realized there was so much that he wasn’t tracking
  • 08:18 – A good business keeps 20-30% profit
  • 08:29 – In Andrew’s situation, he’s lucky to squeeze out 10% profit from salaries and costs
  • 10:00 – Overhead costs are high in some states
  • 10:52 – Andrew had to learn to be resourceful
  • 11:05 – He was fortunate to be able to present nationally about metrics over the last 5 years
  • 11:09 – He is shocked at how successful therapist practices can be without background or knowledge in business
  • 11:31 – That drove Andrew to starting PTClinicMetrics
  • 12:54 – When going into a practice, Andrew first discusses the metrics
    • 13:13 – He asks them to put physical metrics on a spreadsheet on a weekly basis
    • 13:25 – “Weekly is the perfect amount of time”
    • 13:53 – First thing he shows them are referrals vs avails
    • 14:19 – Andrew tells us about his client in Virginia who’s losing 10% of his referrals
  • 15:40 – Referrals are people who called, walked-in, or faxed-in a prescription to start care
  • 16:17 – For every 10 referrals from doctors, only 4 get in touch with therapists
  • 17:33 – The next large number to look at is cancellation rate
  • 18:17 – On average, 92% of your patients should show up every week
  • 18:30 – A missed visit is a visit you can never reclaim
  • 19:04 – Your costs still run with or without patients
  • 19:29 – Look at your cancellations in a given period of time
  • 20:27 – The owner should be concerned about the cancellation rate
  • 20:58 – The staff should be able to monitor this rate
  • 21:57 – Everything comes back to the plan of care
  • 22:10 – You want your clients to know the value PT provides in their lives
  • 22:37 – The next metric to look at is your retention rate
  • 23:28 – National average is 11.1 visits per evaluation
  • 24:43 – A good practice is to use performance pay for your therapists
  • 25:30 – Your therapists need to be 85% productive
  • 25:53 – “If you’re not getting that 11.1 or 12 visits every evaluation, you’re going to see these little holes in the therapist’s schedule”
  • 27:02 – When therapists are busy with new patients, you’re not only decreasing the number of visits but you also start to underbill
  • 28:22 – Every clinic is different
  • 29:58 – Therapists, today, don’t fully understand time-management
  • 30:39 – Conditioning your “lazy” therapists
    • 31:35 – “Did I create a culture of not working so hard?”
    • 32:12 – An 8-hour person should be seeing 12 patients
  • 32:26 – Andrew has some high-paying HMOs cut their reimbursements which affects ⅓ of his clients
  • 33:10 – Andrew thought of squeezing more patients in, but dropped the idea
  • 33:28 – They had to look at other measures to cut costs
  • 33:47 – Dr. Joe’s advice
  • 34:31 – Results depend on therapists
  • 35:18 – Be on board with your metrics
  • 35:46 – Metrics that Andrew teaches at PTClinicMetrics are the ones he uses every day and are solidified into his practice
  • 36:47 – “We became physical therapists to help people”
  • 37:38 – Andrew talks about discharges and dropouts
    • 38:02 – Dropouts are significant issues
    • 38:28 – Show your patient the value of what they are paying for
      • 38:38 – People have no problem spending money if they see the value
  • 39:00 – Dr. Joe shares his conversation with a receptionist
  • 39:25 – If the value is not there, why would patients pay you the amount?
  • 41:03 – Value and priority
  • 41:12 – Andrew calls the staff members “the 6-year olds” and the parents are the practice owners; the staff want structure in their day
  • 41:51 – Patients are 5-year olds who also want “structure”
  • 42:07 – We therapists struggle with telling patients the truth, we leave that to the doctors
  • 43:05 – A therapist is a salesperson
  • 43:31 – Andrew requires his therapists to sell the value of the care they provide and the skill set they provide as a practice
  • 43:48 – If you have a lot of dropouts, therapists might not be doing their job well
  • 44:35 – Dr. Joe says that, in Manhattan, everybody shows up when there’s snow because people don’t have anything to do
  • 45:07 – Andrew’s company goal is 94%
  • 45:30 – Key Performance Indicators: Referrals, New Patients, Visits, Charges Per Visit, and Collections
  • 46:15 – Every week, Andrew does a KPI sheet that he sends out to his managers
  • 47:22 – With 1 therapist, ideally, you should have no dropouts
  • 48:28 – In 2017, Andrew is seeing continued cuts in reimbursement
  • 50:24 – 2017 will be the buffer year where the changes will come into place
  • 51:14 – You have to know your numbers
  • 52:00 – “You don’t know what you don’t measure”
  • 53:00 – “Work smarter, not harder!”
  • 53:18 – Check out PTClinicMetrics – a PT Practice Management and Practice Solution
  • 56:04 – Get the FREE download of your Stat Sheet here

3 Key Points:

  1. Therapists and practice owners should know and use metrics as a basis for making decisions.
  2. Your metrics are a great assessment tool that can help you find the problem areas in your business.
  3. Know your numbers because you don’t know what you don’t measure!

The post Measuring Metrics to Increase Revenue for Private Practices – Private Practice Business Academy appeared first on Dr. Joe Simon.

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Winning medical practices (like winning businesses) net 20-30% in profit, quarter-over-quarter, but many of the practices out there are lucky if they bank 10%. And it’s about more than overhead costs and profit margins—new patients, new visits, Winning medical practices (like winning businesses) net 20-30% in profit, quarter-over-quarter, but many of the practices out there are lucky if they bank 10%. And it’s about more than overhead costs and profit margins—new patients, new visits, reimbursement percentages, cancellation rates, retention rates, referrals versus avails, a winning medical practice knows the numbers behind all of these KPIs. Metrics are what enabled Andrew to step back and look at his practice objectively so he could start managing it in a manner that generated real revenue. Dr. Joe Simon clean 61:17
Leadership and Systems, Cornerstones to Success in the Private Practice – Private Practice Business Academy http://drjoesimon.com/2017/01/leadershipandsystems/ Sat, 21 Jan 2017 21:42:14 +0000 http://privatepracticebusinessacademy.com/?p=1464 http://drjoesimon.com/2017/01/leadershipandsystems/#respond http://drjoesimon.com/2017/01/leadershipandsystems/feed/ 0 <p> Leadership and Systems are the cornerstones of every successful PT practice.</p> <p>They are the components that allow you to amplify your knowledge, your skills, and your reach—three things you’ll need to be able to do if you actually want to scale-up. The more you demonstrate leadership—and implement systems capable of imposing both your knowledge and leadership—the more your employees will be able to grow your business and their expertise. </p> <p>The post <a rel="nofollow" href="http://drjoesimon.com/2017/01/leadershipandsystems/">Leadership and Systems, Cornerstones to Success in the Private Practice – Private Practice Business Academy</a> appeared first on <a rel="nofollow" href="http://drjoesimon.com">Dr. Joe Simon</a>.</p> leadership and systems

[Tweet “Leadership and Systems are the cornerstones of every successful PT practice.”]

Running a healthcare business isn’t easy.

There are challenges at every twist and obstacles at every turn.

But pivoting from a struggling five-figure business/self-employed venture to a booming seven-figure enterprise isn’t impossible…

…it just takes two things:

Leadership and Systems.

Leadership and Systems are the cornerstones of every successful PT practice.

They are the components that allow you to amplify your knowledge, your skills, and your reach—three things you’ll need to be able to do if you actually want to scale-up. The more you demonstrate leadership—and implement systems capable of imposing both your knowledge and leadership—the more your employees will be able to grow your business and their expertise.

Unfortunately, How to Demonstrate Leadership 101 and How to Implement Successful Systems 203 aren’t things they teach you in medical school.

And that’s why most healthcare businesses and practices are mediocre at-best.

But they won’t be for long, thanks to the efforts of people like today’s guest, Greg Todd who’s built nothing short of a physical therapy empire in the Tampa Bay Area, called Renewal Rehabilitation.

For nearly 20 years, Greg has been hustling to do something incredible, and where other people have struggled, he’s succeeded. Today his practice features more than 20 employees and nets over $1 million a year.

Greg’s success is tied directly to his ability to demonstrate leadership and implement systems to carry out his vision. Through leadership and systems, Greg has gotten every single one of his employees on the same page, and that has made his practice a game-changer in the physical therapy space.

But that’s not the only thing that’s helped Greg take his practice to the next level—he’s also employs fantastic marketing strategies and…

…well, you’ll just have to tune-in to find out.

Time Stamped Show Notes:

  • 00:12 – Dr. Joe welcomes Greg Todd
  • 00:49 – Greg has been a physical therapist for 16 years
    • 00:54 – He worked in corporate outpatient settings for the first 4 years of his career before opening his own practice
    • 01:10 – He bought into a small existing practice
    • 01:25 – He currently has 24 employees
  • 02:33 – LEADERSHIP and SYSTEMS are the two things that led Greg into his 7-figure business
    • 02:41 – Having a 5-figure practice business is not really a business but self-employment
    • 03:34 – You have to teach and train other people the things that made you successful
    • 04:06 – Being a leader and creating and using systems aren’t taught in school
    • 05:25 – “Healthcare is mediocre”
    • 05:41 – “If I teach someone, I understand that he’s not going to do it as good as me”
    • 05:53 – “85% of me is still better than all of the ‘competition’”
  • 06:07 – Are your PTs on board with what you are trying to do?
    • 06:15 – Getting all your people on the same page is a GAME CHANGER
    • 07:08 – Let go of the people who are not congruent with your culture
    • 07:36 – Greg does not believe in hiring for talent, but in hiring for character
    • 09:57 – Let people know your expectations right from the start
  • 11:11 – Greg’s thoughts on PT shortages, “It’s never about pay”
    • 11:24 – Most PTs are looking for direction and a way to level up
    • 12:23 – PTs are looking for mentorship
    • 13:10 – The problem is – There is NO leveling up in PT
    • 14:15 – Dr. Joe shares about PTs asking for mentorship
    • 15:03 – Scarcity Mindset – when you don’t want to mentor your PTs because you are afraid they will be a competitor
    • 15:36 – Your PTs are not your servants – let them grow!
    • 16:49 – Don’t live on that scarcity mindset
    • 17:05 – “Train them so they can leave but treat them so good that they wouldn’t want to leave”
    • 18:27 – Greg believes that each person does one thing different
    • 19:28 – He wants to create an environment where employees and patients are both comfortable
  • 20:20 – Greg has created a lot of leverage pieces in his business
  • 20:34 – Pushing people to take themselves to the next level yields a 100% job satisfaction level
  • 22:26 – Greg believes the future is bright for him
  • 22:47 – The biggest hindrance for most employers is their marketing
    • 23:13 – Facebook Ads have been a gold mine for Greg’s business
    • 24:49 – Dr. Joe shares his surprise with Facebook Leads
    • 25:44 – Relying on doctors gives PTs a hard time because doctors are having a hard time finding patients as well
    • 26:57 – Old-school PTs who have not embraced new marketing strategies will suffer the loss of patients thru doctor referrals
    • 27:30 – The most important piece to any business is customer acquisition
    • 29:10 – Talk directly to your patients and community
  • 30:29 – Greg talks about leverage
  • 31:17 – Email campaigns can duplicate you on your best day
    • 31:31 – Start with customer service
    • 33:03 – Spam is different from checking in with your customers
    • 34:34 – Send emails that people want to open
  • 34:52 – There’s a solution to every problem
  • 36:22 – Greg allows his employees have side hustles within his clinics
    • 36:41 – Earlier in the business, Greg and his partner talked about creating bonus schedules for their employees
    • 37:04 – He made aggressive bonus schedules that drove money in
    • 37:26 – Greg then asked his employees to create different programs for their patients and every time they did, he gave a percentage
    • 38:59 – Greg shares one of his PTs who wanted to create a Rehab to 5K program
  • 40:17 – The best thing for patients is to have an option to do more than just have physical therapy
  • 41:28 – Greg has a few online courses available at Smart Success PT
    • 41:36 – What Greg did in his courses was to teach people what it takes to take over his business when he’s not able to
    • 41:52 – Greg’s in-depth 105 lessons on basically what is missing in PT school to make you successful in the real world
    • 44:31 – His goal from the course is to make PTs more valuable to their employers or be able to open up a practice of their own
  • 45:50 – Check out Smart Success PT
  • 46:52 – Follow Greg on Instagram, Twitter, and Facebook
  • 47:07 – Email him at greg@physicaltherapybuilder.com
  • 47:45 – Greg and his wife decided that he will give 6 hours every week to people who need him
  • 48:01 – Greg’s podcast: The Hunt for Greatness with Greg Todd
  • 50:08 – Greg spends his 6 hours/week mostly on Youtube to inspire the younger generation taking the PT path

3 Key Points

  1. Take the lead and create systems for your business.
  2. Share your knowledge and skills to your employees.
  3. Let your employees grow not only for the business but for themselves.

The post Leadership and Systems, Cornerstones to Success in the Private Practice – Private Practice Business Academy appeared first on Dr. Joe Simon.

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Leadership and Systems are the cornerstones of every successful PT practice. They are the components that allow you to amplify your knowledge, your skills, and your reach—three things you’ll need to be able to do if you actually want to scale-up. Leadership and Systems are the cornerstones of every successful PT practice.<br /> <br /> They are the components that allow you to amplify your knowledge, your skills, and your reach—three things you’ll need to be able to do if you actually want to scale-up. The more you demonstrate leadership—and implement systems capable of imposing both your knowledge and leadership—the more your employees will be able to grow your business and their expertise. Dr. Joe Simon clean 56:10
Establishing a Private Practice Brand – Private Practice Business Academy http://drjoesimon.com/2017/01/privatepracticebrand/ Tue, 03 Jan 2017 18:06:09 +0000 http://privatepracticebusinessacademy.com/?p=1451 http://drjoesimon.com/2017/01/privatepracticebrand/#respond http://drjoesimon.com/2017/01/privatepracticebrand/feed/ 0 <p> Physicians, physical therapists, and other medical professionals are transitioning to a personal brand through private practices with ever-increasing frequency—a frequency that’s being driven by the lure of greater operational freedom and economic prosperity. For nearly 40 years, Paul has been working with marked success as a physical therapist, which means he not only knows the risks and benefits associated with starting a private practice, he knows what people need to do to be successful in setting up their own. </p> <p>The post <a rel="nofollow" href="http://drjoesimon.com/2017/01/privatepracticebrand/">Establishing a Private Practice Brand – Private Practice Business Academy</a> appeared first on <a rel="nofollow" href="http://drjoesimon.com">Dr. Joe Simon</a>.</p> Establishing a Private Practice Brand with Paul Potter

Physicians, physical therapists, and other medical professionals are transitioning to a personal brand through private practices with ever-increasing frequency—a frequency that’s being driven by the lure of greater operational freedom and economic prosperity.

[Tweet “Taking the private practice leap focussing on brand with@paulpotter”]

Private medical practices come with their own set of unique challenges that require careful consideration and detailed preparation, especially if that practice is being launched as a solo-preneurial venture.

Should the business be cash-based or insurance-driven?—getting paid by insurers is always an uphill battle, but it also offers a greater pool of potential clients.

Is there room in the budget to hire an office manager? If there isn’t, how much time and energy can be allocated to administrative duties?—marketing, scheduling, accounts payable, accounts receiving, compliance, taxes…these are just a few of the surprisingly time-consuming jobs that will need to get DONE in addition to any medical work.

All of this isn’t to say moving into a private practice is an ill-advised decision—nothing could be further from the truth. It is simply to say moving into a private practice requires careful planning and strategy.

And that’s why listening to today’s guest—Paul Potter PT—is going to be so important.

For nearly 40 years, Paul has been working with marked success as a physical therapist, which means he not only knows the risks and benefits associated with starting a private practice, he knows what people need to do to be successful in setting up their own.

Through his podcast and mentorship activities, Paul helps his fellow medical professionals establish their brand, build their following, and get familiar with the tools—like CashPracticeFromScratch—they’ll need to effectively launch their own businesses.

Time Stamped Show Notes:

  • 00:05 – Joseph introduces the show
  • 00:10 – Introduces guest, Paul Potter, who is a physical therapist, podcast producer, and mentor at Paul Potter PT
  • 00:43 – What’s going on for the new year
  • 00:50 – In 6-8 months, Paul is launching a product that helps therapists get started on their own practices
  • 00:57 – Paul is launching a product on Jan 3, 2017—How to launch your own practice in 90 days
  • 01:26 – With 35 years of experience, Paul wants to share what he knows and the benefits of private practice
  • 01:51 – 7 essential steps with the least amount of risk and money
  • 03:25 – Joseph sees that therapists want to slowly transition into a private practice
  • 03:54 – What is something we can put out there so that these therapists know what direction to go in?
  • 04:16 – Paul says his ideal client has 7-10 years of experience, they are finding their expertise and are moving into leadership roles
    • 04:36 – They’re getting overwhelmed by the load
    • 04:47 – Wanting to reevaluate where they want to go in their career
    • 05:05 – Ask the question, “what is my big ‘why’?” by Simon Sinek
    • 05:28 – Private practice is worth considering as part of that self-assessment
  • 05:45 – Consultants pushing a cash therapy model
  • 05:55 – Joseph has a 30% cash-based clientele vs. others who have 100% cash—what are they doing differently?
  • 06:29 – “Cash practice startup” takes the insurance component out of the formula
  • 07:00 – Grow a different mindset—move from being insurance focused into a more of a consumer based focus
  • 07:20 – When Paul started, you didn’t think about administrative costs. You did your work and got paid. But now, the margins have shrunk.
  • 07:45 – With Paul’s program “Cash Practice from Scratch”, he takes that insurance component out to save on costs at the very beginning
  • 08:29 – You shouldn’t be afraid of going through insurance billing methods, you need to learn that system, but it’s the mindset you need to adapt
  • 09:00 – ”We are not trained to be business professionals, we’re trained to be therapists and healers”—we give more away than what we’re comfortable asking for in return
  • 09:26 – Paul created the “Cash Practice Biz Quiz”, 7 prediction rules for success
  • 10:01 – Go to CashPracticeFromScratch, try the quiz to assess where you stand in terms of your understanding of business
  • 10:51 – Paul talked to an OT who is spending a lot of her energy trying to get payments from insurance companies for the work she’s already done
    • 11:39 – I’d be diversifying my income instead of spending so much time tracking my money
    • 11:50 – I’d be creating the services my clients want
  • 12:10 – Consistency and being persistent is what it takes to track that money down from insurance companies and that takes a lot of energy—you need a team to do that
  • 13:16 – How to start a practice now and to keep it as lean as possible?
  • 14:06 – Establish first who you are and where you are going
  • 14:20 – Second, research the market and narrow down your niche at the beginning
    • 14:31 – when the consumer asks why they should choose you, you have a clear message that makes you stand out
  • 15:01 – Build a launch team of friends, family and clients
    • 15:22 –  Start an email list, and communication with your clients so you’re building a runway of the services you’re offering
    • 15:55 – Get your name and professional expertise out there to build your own following and brand
    • 16:22 – You don’t have to upset your current partners in the process—it’s not about your own business, it’s your practice within the business.
    • 17:10 – I’m educating my clientele and establishing my brand
    • 17:25 – Your launch team is key influencers
  • 17:40 – Third, set up business accounts and systems so they are all in place come launch day
  • 18:05 – Have an online presence of you being an expert in your specific field
  • 18:46 – Joseph reiterates that not everyone is cut out for starting a business
  • 19:00 – Joseph shares a story of one of his employees, James, not a practice owner, but has built a following that has tripled
    • 19:18 – James was offered partnership, but he declined
    • 19:24 – He is one of the highest paid therapists
    • 19:43 – He is not designed for the stress, the marketing challenges, and the back-end processes of business
    • 19:53 – He’s content with where he is
  • 20:26 – Going through Paul’s course can help clarify if one is supposed to venture into business or not
  • 21:05 – You don’t have to be in business for yourself, but it helps to have an awareness of the business processes and take ownership of your own practice as a physician
  • 21:50 – If you can make it past the 2 year point, you can make it in business.
  • 22:29 – Joseph shares his own story
    • 22:38 – His boss said, “you won’t be an employee for too long”
    • 22:49 – His practice owner introduced him to different doctors
    • 23:10 – He was viewed as a potential partner, not a threat
    • 23:25 – Think in abundance and not that “scarcity mindset”
  • 24:02 – If you have a diversified portfolio of potential leads for business, then you are not dependent on the one stream of orthopedic referrals
  • 24:55 – Get face-to-face with consumers and find out what they want and how you can meet those needs, THEN you can submit it to the insurance
  • 26:45 – Paul has done the work to find out how to keep the business systems simple and streamlined
    • 27:18 – This way you don’t get bogged down by starting out these systems
  • 27:45 – “You don’t know what you don’t know”—so find out the systems that you CAN KNOW so that your back-end processes are set-up for you
    • 28:18 – Learn the process, even if it’s not 100%, you’ll be at least 95%
  • 28:30 – Paul wants to minimize the feelings of being overwhelmed in starting a practice
  • 29:00 – If I’m successful, what is the next step? How do I scale up?
  • 29:36 – “How do we grow this so it’s sustainable?”
  • 30:10 – How do you build your company large enough so that you can reduce your hours and actually take that break?
  • 30:46 – CashPracticeFromScratch, take the quiz as a starting point
  • 31:06 – Paul has a webinar on December 16th about performing that first self-assessment
  • 32:30 – Most PTs have a very limited view of what they can do
  • 32:52 – Joseph shares a story, an OT is selling her practice and could’ve made more money working for someone else
    • 33:15 – She had her success, but didn’t create wealth
    • 33:38 – Assess if this is right for you and do it as soon as possible
  • 33:56 – Formula for success is significance—Paul shares his opinion of what defines success
  • 34:20 – If you can look back and say, this was a good career, I made a difference, then you’re on the right page
  • 34:30 – Finding out your end goal is part of the journey
  • 34:50 – Joseph reflects on the learning process he went through with his partners
  • 35:20 – There is so much more value behind the value of having a cash practice
  • 35:47 – Check out CashPracticeFromScratch
  • 35:56 – Reach out to Paul Potter on Linkedin or by email
  • 36:23 – “I get joy and significance to be able to help other therapists fulfill their calling within the profession”
  • 36:47 – Paul would be very happy to connect with you
  • 37:00 – Any questions, reach out to Joseph by email
  • 37:25 – Joseph closes the show by inviting you to think about where you’d like to be in the new year
  • 38:13 – A takeaway for the episode, “Never stop learning”.

3 Key Points:

  1. Get face-to-face with the consumer and build your practice based on what they need instead of being dependent on the doctor referral/insurance mindset.
  2. It’s essential to think about your “why” and to self-assess your own goals and desires for your life and practice BEFORE taking action.
  3. Regardless of whether you’d like to start a business or not, aspiring to learn more about your own practice will only benefit you in this ever-changing healthcare service profession.

The post Establishing a Private Practice Brand – Private Practice Business Academy appeared first on Dr. Joe Simon.

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The Cash Therapy Practice Physicians, physical therapists, and other medical professionals are transitioning to a personal brand through private practices with ever-increasing frequency—a frequency that’s being driven by the lure of greater operational freedom and economic prosperity. For nearly 40 years, Paul has been working with marked success as a physical therapist, which means he not only knows the risks and benefits associated with starting a private practice, he knows what people need to do to be successful in setting up their own. Dr. Joe Simon clean 41:22
Is the Business Model of Private Practice Broken? – Private Practice Business Academy http://drjoesimon.com/2016/12/kristenmcnealus/ Sun, 18 Dec 2016 14:15:53 +0000 http://privatepracticebusinessacademy.com/?p=1442 http://drjoesimon.com/2016/12/kristenmcnealus/#respond http://drjoesimon.com/2016/12/kristenmcnealus/feed/ 0 <p> What if somebody told you the business model of private practice is broken? Well, maybe not broken, but certainly misaligned. Misaligned with patient interests. Misaligned with the medical provider interests. And misaligned with everybody’s financial interest. You’d probably agree with most—if not all—of that statement.<br /> But what are you doing to change the game and shift the paradigm? Are you making waves and taking steps to breakout from the burdens of your current business model? </p> <p>The post <a rel="nofollow" href="http://drjoesimon.com/2016/12/kristenmcnealus/">Is the Business Model of Private Practice Broken? – Private Practice Business Academy</a> appeared first on <a rel="nofollow" href="http://drjoesimon.com">Dr. Joe Simon</a>.</p> Private Medicine Broken Kristin McNealus Every Body Fitness

[Tweet “Be comfortable with what is uncomfortable—push through the unknown difficulties of creating a service.”]

What if somebody told you the business model of private practice is broken?

Well, maybe not broken, but certainly misaligned.

Misaligned with patient interests. Misaligned with the medical provider interests. And misaligned with everybody’s financial interest.

You’d probably agree with most—if not all—of that statement.

But what are you doing to change the game and shift the paradigm?

Are you making waves and taking steps to breakout from the burdens of your current business model?

You should be.

And if you think it’s too hard or too difficult, you’re wrong, because people are already doing it…

…people like today’s guest, Kristin McNealus, the founder and creator of Every Body Fitness, a company that is committed to helping recovering medical patients take control of their health through consistent exercise routines and alter the common business model of private medicine.

After starting her career as a traditional physical therapist in beautiful Southern California, Kristin quickly grew tired of and frustrated with the way health insurance companies were handcuffing her practice. That policy makers sitting in lofty boardrooms thousands of miles away, could dictate what she could and couldn’t do for her patients.

Rather than sit idly by watching the PT private practice Industry, Kristin decide to take action by taking her therapeutic exercises and putting them online where they could be accessed—without having to sidestep roadblocks or jump through hoops—by the people who needed them most.

Since that fateful day, Kristin has not only gone back to school to secure her MBA from Pepperdine University, she has also launched other business ventures tied to her medical expertise.

Time Stamped Show Notes:

  • 05:35 – Introducing Kristin McNealus to the show
  • 05:40 – Kristin is the owner of Every Body Fitness
  • 05:46 – Kristin’s LinkedIn post “Time to Change Our Business Model”, caught Dr. Joe’s attention
    • 06:02 – Joe thought Kristin had a different viewpoint than others
  • 06:28 – She believes healthcare professionals need to take a unique angle in how they approach healthcare reform
    • 08:49 – Kristin looked for ways to provide a solution to the problem of being pushed to discharge her inpatients sooner and sooner without the tools for success they needed
    • 09:11 – There is a gap in care between being discharged, getting outpatient therapy, and what proper out-patient therapy looks like
  • 09:33 – Kristin designed an online exercise program focusing on the needs of outpatients
  • 11:20 – How Kristin thought of the end users (patients)
    • 11:23 – Kristin was leading a class in the hospital where she was working
    • 11:37 – Classes were social and people with similar experiences could connect
    • 11:47 – “People with less mobility were enjoying the classes”
    • 12:07 – Transportation became an issue and someone asked if Kristin could put the class online—BOOM an idea was born
  • 14:05 – The challenges Kristin had to face in putting up her online classes
    • 14:09 – “You just don’t know what you don’t know”
  • 16:37 – Dr. Joe talks about legalities and constraints
  • 17:04 – Countless people never try because they assume they’re not allowed to do something
  • 20:37 – “Why do I need to build a brand?”
    • 21:32 – Your value base is higher than the fee
    • 22:26 – Connect brand with reputation
  • 23:04 – “Get comfortable being uncomfortable”
  • 24:06 – Healthcare professionals are uncomfortable charging and billing people
  • 24:28 – Understand your value
  • 25:13 – Kristin’s program isn’t a homerun but a work in progress
  • 25:45 – She changed the direction of her business and felt she was starting over
    • 27:06 – Test the model before creating the entire platform
  • 27:24 – Kristin’s big “ah-ha” moment was going back to school
  • 30:48 – Programs for all people depending on their mobility
  • 35:57 – Kristin has contacted professionals and hospitals for next year
  • 37:06 – There are a lot of players in the orthopedic field which Kristin hasn’t reached out to yet
  • 37:45 – The pricing is very modest
  • 38:26 – Reach out to Kristin by email
  • 38:48 – EB Fitness Online

3 Key Points:

  1. Health care professionals need to be able to adapt to the ever-changing world of healthcare reform and private medicine.
  2. Be comfortable with what is uncomfortable—push through the unknown difficulties of creating a service.
  3. Do NOT exclude potential customers by narrowing your niche.

IF YOU ENJOYED THIS EPISODE PLEASE SHARE BY CLICKING ON THE SOCIAL MEDIA TABS TO THE LEFT. 

The post Is the Business Model of Private Practice Broken? – Private Practice Business Academy appeared first on Dr. Joe Simon.

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What if somebody told you the business model of private practice is broken? Well, maybe not broken, but certainly misaligned. Misaligned with patient interests. Misaligned with the medical provider interests. What if somebody told you the business model of private practice is broken? Well, maybe not broken, but certainly misaligned. Misaligned with patient interests. Misaligned with the medical provider interests. And misaligned with everybody’s financial interest. You’d probably agree with most—if not all—of that statement.<br /> But what are you doing to change the game and shift the paradigm? Are you making waves and taking steps to breakout from the burdens of your current business model? Dr. Joe Simon clean 40:57
The Future of Connecting Therapists with Patients… Remotely – Private Practice Business Academy http://drjoesimon.com/2016/12/in-hand-health/ Sun, 11 Dec 2016 15:51:22 +0000 http://privatepracticebusinessacademy.com/?p=1434 http://drjoesimon.com/2016/12/in-hand-health/#respond http://drjoesimon.com/2016/12/in-hand-health/feed/ 0 <p> In this episode, Joe interviews Mike Novosel, VP of In Hand Health. This company developed applications that can extensively help therapists and other practitioners stay connected with their patients remotely. Listen as Mike shares the benefits of their app, how clinics and practitioners monetize from the app, and the possible expansion of In Hand Health’s platform to other fields. </p> <p>The post <a rel="nofollow" href="http://drjoesimon.com/2016/12/in-hand-health/">The Future of Connecting Therapists with Patients… Remotely – Private Practice Business Academy</a> appeared first on <a rel="nofollow" href="http://drjoesimon.com">Dr. Joe Simon</a>.</p> mike-and-joe_1

In this episode, Joe interviews Mike Novosel, VP of In Hand Health.  This company developed applications that can extensively help therapists and other practitioners stay connected with their patients remotely.

Imagine for a minute that your patient that lives too far from your clinic but still continues to receive treatment from an app that you can upload their treatment protocols.

[Tweet “The Future of Physical Therapy is Now with In Hand Health”]

Listen as Mike shares the benefits of their app, how clinics and practitioners monetize from the app, and the possible expansion of In Hand Health’s platform to other fields.

  • 05:19 – Joe introduces Mike Novosel
  • 05:43 – In Hand Health developed a solution for Physical Therapists to monetize their work remotely
    • 05:53 – In Hand Health built a patient engagement solution
    • 06:40 – PTs cannot necessarily see a lot patients in a day
  • 08:30 – “We are better than an e-commerce solution”
  • 09:25 – Patients are looking for value for their dollar
  • 09:35 – “Physical Therapy is for life”
  • 10:08 – In Hand Health app provides direct access to the therapist
    • 10:28 – Everything happens around the application; no need to give phone numbers
  • 10:44 – Mike shares how to use the app during an accident that happens over the weekend
  • 11:18 – “Therapists should always be involved in the process”
  • 11:38 – In using the In Hand Health app, extended help can be prioritized
  • 12:30 – Therapists can also monitor the exercise activity of their patients
  • 14:50 – Mike shares how athletes have been using the app
  • 16:18 – Patients are more connected to their therapist now more than ever before
  • 16:56 – As of the moment, smartphones are what most people are using to connect to the internet and having the In Hand Health app on their phone is very convenient for them
    • 17:25 – Patients leveraging mobile access to health care
  • 18:36 – Patients will skip services if they don’t see the value
  • 19:20 – Having the visual app for the therapist to see what their patients are doing is very helpful
  • 19:41 – Joe discusses how therapists work with athletes
  • 20:50 – There’s a fee to license the technology to the clinic for $49/month for 200 active patients
  • 21:43 – Mike brands their product as “Continuing Care”
  • 21:50 – In Hand Health has partnered with Braintree to process the payment transactions
  • 22:53 – Clinics can add their own service or product and set the fee
  • 24:00 – 70% of the fee goes to the clinics and 30% goes to In Hand Health for the first $100
  • 25:01 – In Hand Health app is free to download
  • 26:30 – In Hand Health doesn’t mandate what the clinic does with their fee to the patients
  • 27:38 – There’s a one-time fee and separate fee depending on the patient’s service
  • 28:39 – In Hand Health provides the platform and depending on the clinic, there could be a monthly recurring fee
  • 30:00 – Mike and his team are currently focused on Physical Therapy
  • 30:40 – Home health care is also an interesting opportunity
  • 30:52 – Mike’s Therapist Essentials app
    • 31:33 – The exercises are in videos
    • 32:05 – This provides opportunities for therapists to film their exercises in real-time and upload them to the app
  • 32:47 – The home health care provider saw the Therapist Essentials app and told Mike that the nurses can use it when they go out with their patients
  • 33:18 – The videos filmed in the Therapist Essentials app can be set on private and can only be used by that specific patient
  • 34:40 – Therapists and other practitioners can expand their patient base by using the apps
  • 35:19 – Visit com to know more about Mike’s business and try their FREE model
  • 37:38 – Leave a feedback for Mike’s app through Private Practice Business Academy

3 Key Points:

  1. Sometimes, our passion is taken when we wear the wrong hat so FIND your “hat” and consider it your superpower!
  2. Make sure the service you’re offering has VALUE; if there’s value, it will be used!
  3. Being connected does not only provide continued care for patients—it provides peace of mind.

Resources Mentioned:

The post The Future of Connecting Therapists with Patients… Remotely – Private Practice Business Academy appeared first on Dr. Joe Simon.

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In this episode, Joe interviews Mike Novosel, VP of In Hand Health. This company developed applications that can extensively help therapists and other practitioners stay connected with their patients remotely. In this episode, Joe interviews Mike Novosel, VP of In Hand Health. This company developed applications that can extensively help therapists and other practitioners stay connected with their patients remotely. Listen as Mike shares the benefits of their app, how clinics and practitioners monetize from the app, and the possible expansion of In Hand Health’s platform to other fields. Dr. Joe Simon clean 38:03
Your Business is “Physical Therapy” First and Foremost Part 2 – Private Practice Business Academy http://drjoesimon.com/2016/10/jerry-2/ Fri, 14 Oct 2016 15:03:20 +0000 http://privatepracticebusinessacademy.com/?p=1309 http://drjoesimon.com/2016/10/jerry-2/#respond http://drjoesimon.com/2016/10/jerry-2/feed/ 0 <p> THIS EPISODE, I CONTINUE MY CONVERSATION WITH JERRY DURHAM, WHO WILL GIVE US MORE INSIGHT INTO HOW HE’S CULTIVATED A BLOSSOMING PRACTICE. In addition to our conversation on social media, Jerry and I will discuss the pitfalls of pride—source of some of the most spectacular downfalls in the history of healthcare. But as Jerry explains, while pride can certainly cripple our ability to succeed, it can also empower us. When we can harness the power of pride to do something constructive (like hire an amazing therapy team) we help our practice thrive </p> <p>The post <a rel="nofollow" href="http://drjoesimon.com/2016/10/jerry-2/">Your Business is “Physical Therapy” First and Foremost Part 2 – Private Practice Business Academy</a> appeared first on <a rel="nofollow" href="http://drjoesimon.com">Dr. Joe Simon</a>.</p> rev1

 

 

 

 

 

[Tweet “Are you hesitant or flat out unwilling to use social media for your practice?”]

Do you feel too old and too disconnected to fully understand modern communication platforms like Instagram or Snapchat?

That’s OK—it’s easy (and important) to learn the right processes for these technologies.

With the right process, social media platforms can grow your network and your practice exponentially.

In this episode, I continue my conversation with Jerry Durham, who will give us more insight into how he’s cultivated a blossoming practice.

Jerry system for exploring social media and employing it as a means of marketing is simply brilliant. He believes the different platforms—like Twitter and Facebook—should be used separately and for separate purposes.

For example, Jerry loves Twitter for networking, and Facebook for finding new patients. Equally popular platforms like Instagram or Snapchat are also worth familiarizing yourself with because they can be wonderful add-ons to any complex marketing strategy.

In addition to our conversation on social media, Jerry and I will discuss the pitfalls of pride—source of some of the most spectacular downfalls in the history of healthcare. But as Jerry explains, while pride can certainly cripple our ability to succeed, it can also empower us. When we can harness the power of pride to do something constructive (like hire an amazing therapy team) we help our practice thrive.  As physical therapists, we can use pride to work together, share our experiences, get satisfaction from our successes, and help our client-base grow.

Show Notes

03:28 – Jerry uses Facebook for his customers

04:24 – Have you used other social media that’s out there?

05:16 – They are building Facebook and Instagram

05:35 – Each social media platform needs to be managed separately.

07:22 – Do you think that social media marketing should be delegated?

07:59 – The downfall of healthcare is that we are all experts and have huge egos.

09:40 – Every successful company is a team of professionals in different subjects.

10:25 – Social media is a full-time job. Find someone who knows what they’re doing.

11:20 – “The leads are the gold.”

11:39 – Joe talks about Jerry’s experience with healthcare professionals thinking they are smarter than everyone else.

12:44 – Jerry talks about his biggest mistake when he opened his practice.

13:50 – Joe talks about other practices and how they struggle to set themselves apart.

15:00 –  You can’t treat patients AND be the business expert.

15:44 – Joe talks about his success partnering with his practice, taking over the business and letting someone else run the clinic.

16:25 – Jerry recommends The E-Myth, by Michael Gerber, to help people understand the difference between “working in your business and working on your business.”

18:20 – PTs should speak to each other and share their experiences

19:30 – Jerry and Joe talk about Paul Gaugh, someone willing to share his PT experiences

24:40 – Sharing information will only help you.

26:14 – Jerry recently started his own podcast, “Business, Baseball, and Bourbon.”

27:29 – Jerry’s goal is to get sponsors from his podcast.

28:01 – Jerry and Joe discuss baseball

 

IF YOU ENJOYED THIS EPISODE PLEASE SHARE WITH THE SOCIAL MEDIA ICONS ABOVE……..THANK YOU FOR ALL YOU DO

 

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THIS EPISODE, I CONTINUE MY CONVERSATION WITH JERRY DURHAM, WHO WILL GIVE US MORE INSIGHT INTO HOW HE’S CULTIVATED A BLOSSOMING PRACTICE. In addition to our conversation on social media, Jerry and I will discuss the pitfalls of pride—source of some of ... THIS EPISODE, I CONTINUE MY CONVERSATION WITH JERRY DURHAM, WHO WILL GIVE US MORE INSIGHT INTO HOW HE’S CULTIVATED A BLOSSOMING PRACTICE. In addition to our conversation on social media, Jerry and I will discuss the pitfalls of pride—source of some of the most spectacular downfalls in the history of healthcare. But as Jerry explains, while pride can certainly cripple our ability to succeed, it can also empower us. When we can harness the power of pride to do something constructive (like hire an amazing therapy team) we help our practice thrive Dr. Joe Simon clean 38:02