Private Practice Business Academy Podcast
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.
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, 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?
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.
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.
Leadership and Systems, Cornerstones to Success in the Private Practice – Private Practice Business Academy
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.
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.
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?
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.
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