Most physical therapy owners check their bank account or glance at a P&L to judge the health of their practice. But what if those numbers aren’t telling the full story?
In this insightful interview, Chad Madden sits down with Sean Healy, founder of Accounted For LLC, to unpack the biggest financial misconceptions practice owners face—and what to do instead.
Key Takeaways:
1. Cashflow ≠ Profit
Most owners ask: “Am I making money?” but the answer they’re given is usually profit. What they really want to know is: “Why is there no cash in my account?”
Sean breaks down how cashflow is the real language of business, and why your P&L doesn’t show where the money’s actually going—like debt payments, owner draws, taxes, and savings.
2. Balance Sheet is King
Forget just the P&L—your balance sheet tells the real financial story. It shows if you’re paying down debt, building savings, or growing dangerously leveraged.
3. Know Where You Are—and Where You’re Going
Before fixing finances, you need to know:
Where your practice stands today (financially and operationally)
Where you want to go (exit? growth? retirement?)
This clarity helps shape every strategic move.
4. Predictive Indicators Matter
Want to stop flying blind? Sean shares two powerful forward-looking metrics:
Number of visits scheduled for next week
Number of visits booked after the initial eval
These numbers help you take control before problems show up in revenue.
5. Getting Ready to Exit? Clean Your Books.
If you’re aiming for a $1.5–$3M exit in 3–5 years, you must:
Track owner add-backs (cars, leases, salaries)
Align your financial story with the business value
Understand EBITDA and how to boost it
Bottom Line:
If you want to truly understand your business—and scale, exit, or sleep better at night—start with proactive financial insight, not gut feelings or outdated spreadsheets.
About Sean Healy & Accounted For LLC:
Sean and his team specialize in helping private practices make smarter financial decisions through proactive reporting, predictive tools, and exit strategy planning. Learn more at accounted4llc.com
If you’re ready to simplify your hiring, boost staff retention, and grow your practice, schedule a free demo of Breakthrough today at getbreakthrough.com/demo
