Grow Your Practice With The $20M PT Marketing System

The $20M PT Marketing System: Successful Marketing Strategies for PT Private Practices

The $20M PT Marketing System

It’s crucial to understand the significance of marketing in any business, including the healthcare sector. The right marketing strategies could be the game-changer in shaping up your practice, whether it’s a chiropractic clinic or a physical therapy private practice. In this article, we unwrap key aspects of our “$20M Marketing System,” a system meticulously constructed over the past two decades.

At Madden & Gilbert PT, Chad Madden’s practice in Harrisburg, PA, they started from a modest 50 visits per week in 2003. Now they see about 2,500 visits per week. They’ve consistently focused on achieving 20% growth year over year.

Recently the Madden & Gilbert PT valuation done in 2023 was for $20.8M, up from $4M just six years prior.

A $20M physical therapy private practice is realistic – read on to learn the marketing system that can help you achieve this growth year over year.

Scaling Your Practice with the $20M Marketing System

The $20M Marketing System is a strategy developed in a private practice valued at $20.8 million, and refined in hundreds of physical therapy private practices across the country. This system is designed to provide practice owners with a structured pathway to consistent and significant growth in both patient numbers and revenue.

The Key Ingredient: Processes

A solid marketing system is essential for practice owners who aim to grow their businesses smoothly and sustainably. It involves a combination of proactive processes that help attract potential patients, maintain existing ones, and ensure a steady flow of revenue.

Establishing processes means creating consistent steps, scripts, or other routines that you and your staff can follow to reach your marketing goals.

The Five Pathways of New Patient Flow

There are five consistently valuable pathways for attracting new patients to a private practice. New patients are an essential aspect of any practice’s growth. Make sure you are tapping into these key channels:

1. Reactivations: Encourage past patients to come back for additional care.
2. Word-of-mouth referrals: Tap into your network of existing patients.
3. Physician referrals: Aquire patients referred by other clinicians.
4. Partner referrals: Develop partnerships with businesses that can promote your service.
5. Cold traffic marketing: Reaching out to potential patients who are not aware of your services and how you can help them.

Each pathway requires different strategies and processes—with the goal being to maintain a balance amongst all five, ensuring a steady patient flow.

It’s important to set up processes for all five of these resources to track and optimize marketing efforts for sustainable practice growth.

Common Pitfalls in Building Marketing Systems

While building a marketing system comes with numerous challenges, the key is to understand and avoid the common pitfalls. This could range from a lack of know-how, wherein owners may confuse a system with a process, box-checking strategies that could blur tracking end results, or underestimating the effort required in building a system. Choreographing multiple processes into a system requires immense planning and execution.

Creating the Perfect Marketing System

A marketing system consists of multiple processes designed to attract and retain patients. These processes can range from reactivations to cold traffic marketing strategies. The efficiency of these processes is critical for an effective system, and they should be designed with the specific characteristics of the practice in mind.

Reactivations

A reactivation process is particularly effective at bringing back past patients. This can be achieved using a range of techniques, including patient newsletters, email campaigns, text campaigns, and specialized conversion responses. This ensures a high retention rate and maintains a consistent patient base.

Cold Traffic Marketing

Cold traffic marketing, which refers to strategies that target people who are unaware of your practice, is integral in attracting new patients. Despite the challenges that can be involved in working with an unidentified audience, if approached correctly, it is possible to convert this into a resource for growth.

Building Your Marketing Team

Building a reliable marketing team is essential in leveraging these processes effectively. While an internal marketer might focus on reactivations and referrals, an external marketer can help in partner events and establishing professional referrals. In addition, ensuring trackability in your marketing processes is key to understanding what works best for your practice.

Harnessing the Power of Online Advertising

With today’s world becoming increasingly digital, online advertising is slowly overshadowing traditional methods. Platforms such as Facebook and Instagram offer opportunities to reach broad and diverse audiences. Designing effective online ad campaigns is crucial for any practice aiming to grow. They must also understand how to turn interactions into actual patients.

Conclusion

The $20M Marketing System offers an efficient and structured approach to growing your practice.

You can increase your patient base and revenue by combining reactivation, cold traffic, and effective online social media advertising.

I hope this serves as a testament to the power of sustainable growth strategies.

Want to learn more about scaling your practice? Sign up for a Practice Growth Strategy Call to see how the $20M Marketing System can work for your unique practice.

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