In the latest episode of the Grow Your Practice podcast, we dive into the rich insights from our “Market for Profit” session at boot camp held in Harrisburg. This session was dedicated to uncovering effective strategies to maximize the use of clinic space, efficiently schedule patient visits, and ultimately drive up revenue. Here’s how physical therapists can leverage these strategies to optimize their practices.

Filling Schedules and Utilizing Space

During the bootcamp, we explored the correlation between clinic size and patient visits. For instance, a 3000 square foot clinic should ideally handle about 300 patient visits per week to maximize space efficiency. If you’re seeing fewer visits than this, it’s time to reevaluate your use of space. Here’s a straightforward formula we discussed:

  • Space Utilization: For every 1000 square feet, aim for 100 patient visits per week.
  • Clinician Capacity: Ensure each clinician can handle 40 to 60 visits per week, maximizing their potential within the available space.

Reactivating Past Patients

Reactivations are the lowest hanging fruit in practice marketing, requiring minimal expense and effort. A simple “how are you” message can re-engage past patients, filling your schedule quickly. Here’s the process we recommend:

  1. Identify Past Patients: Look at your records from the last 6 months to 2 years.
  2. Send Personalized Messages: A simple text asking how they are can reignite their interest in your services.
  3. Follow Up: Engage with those who respond to schedule appointments.

Leveraging Referrals

Referrals are a goldmine for practice growth. We discussed three main sources:

  • Word of Mouth: Encourage satisfied patients to refer friends and family.
  • Professional Referrals: Engage with physicians, nurse practitioners, and other clinicians.
  • Community Partnerships: Connect with local businesses that can promote your services to their employees, especially those offering favorable insurance benefits.

Expanding Service Offerings

To counterbalance the effects of low reimbursement rates from insurance, consider expanding your service offerings. Techniques such as dry needling, laser therapy, and shockwave therapy not only enhance patient care but also add new revenue streams. Here’s how to implement:

  • Evaluate Profitable Services: Determine which services can be provided within your specialty that also offer higher reimbursement rates.
  • Educate Your Team: Ensure that all team members are proficient in new techniques.
  • Market New Services: Promote these new services to both existing and new patients.

Building a Strong Brand and Community Presence

A strong brand is essential for attracting new patients and retaining existing ones. Know your community; understanding the demographics and needs of your neighborhood will help you know how to market. Then, use educational workshops and active digital marketing strategies to build trust and raise visibility in your community.

At the end of the day…

Adopting these strategies can significantly increase both the operational and financial health of your physical therapy practice. By focusing on efficient space utilization, patient reactivation, strategic referrals, service expansion, and robust marketing, you can ensure sustainable growth and success. Watch the full episode for the full learning experience.

Apply for Profitability Under Pressure today. You’ll learn even more keys to increasing profit margins, connect with like-minded owners, and achieve financial stability and growth. Extended deadline is June 7th at 11:59PM EST.

Apply to Profitability Under Pressure where practice owners will learn how to use text messaging for profit and patient engagement, optimize hiring processes

In our most recent episode of the “Grow Your Practice” podcast, we had the pleasure of hosting Dr. Sterling Carter. As a multifaceted entrepreneur, motivational speaker, and seasoned physical therapist with a 25-year military background, Dr. Carter shared essential strategies for physical therapists looking to elevate their practices. His insights include tactics for negotiating with insurance companies and ensuring patient accountability.

Successful Negotiating with Insurance Companies

Dr. Carter has successfully renegotiated reimbursement rates with insurance providers, addressing a critical financial pressure point for many practices. He recommends several effective strategies:

  1. Preparation and Research: Understand and articulate the value your practice provides.
  2. Structured Communication: Draft clear and professional communications to outline your case.
  3. Persistence: Follow up persistently, as it often leads to success.

Ensuring Patient Accountability

The physical therapy entrepreneur employs several methods to enhance patient commitment and treatment outcomes:

  • Educational Workshops: He conducts free sessions that educate patients about their conditions and the benefits of physical therapy.
  • Structured Plans of Care: He clearly outlines treatment phases to help patients understand their journey.
  • Patient Contracts: Patients sign a form committing to their treatment plan and attendance, significantly improving adherence.

Expanding Practice Services

Understanding the value of upselling, Carter has broadened his practice’s offerings by adding specialized services such as dry needling, laser therapy, and shockwave therapy. These services not only enhance patient care but also boost revenue, helping to mitigate the impact of low insurance reimbursements.

Building a Brand and Community Presence

As an entrepreneur, Dr. Carter underscores the importance of a strong brand and active community engagement. By hosting educational workshops and effectively using digital marketing, his practice builds trust and increases visibility. These efforts are crucial for attracting and retaining patients in a competitive market.

Conclusion

Dr. Carter combines business acumen with a deep understanding of physical therapy’s clinical aspects. By adopting his strategies, therapists can enhance both the operational and financial health of their practices. We’re so excited that he was able to find success in growing his practice with our help at Breakthrough.

Remember, growing your practice is not just about adding more patients but optimizing every aspect of your operation, from insurance negotiations to patient accountability, marketing, and community involvement. If you’re ready to increase your profit margins by $10K guaranteed, apply for Profitability Under Pressure today. You’ll learn even more keys to increasing profit margins, connect with like-minded owners, and achieve financial stability and growth. Deadline is tonight, May 17th at 11:59PM EST.

Watch or listen to the full episode to hear all of Sterling Carter’s impressive professional journey.

Apply to Profitability Under Pressure where practice owners will learn how to use text messaging for profit and patient engagement, optimize hiring processes

The 10 Text Challenge to Increase Patient Reactivation

In the world of physical therapy, there was once a prevailing belief that providing high-quality care would naturally lead to a steady flow of patients through word-of-mouth referrals. However, the landscape has shifted dramatically, and relying solely on this approach is no longer sufficient. During our recent webinar, we discussed a powerful and straightforward strategy to enhance patient reactivation and grow your practice: text messaging. This blog post will delve into the strategies discussed, with a special focus on “The 10 Text Challenge.”

Why Use Text Messaging?

Text messaging offers a direct and personal way to communicate with your patients. It ensures immediate communication, as messages are typically read within minutes. Patients find text messages convenient and less intrusive compared to phone calls. Additionally, text messaging allows for personalized communication, increasing patient reactivation.

Implementing Text Messaging in Your Practice

To effectively integrate text messaging into your practice, start by collecting explicit patient consent to send text messages. Choose a reliable text messaging platform tailored for healthcare providers and segment your audience based on their treatment plans, preferences, and communication history. Personalize each message by using patient names and referencing their specific conditions or past treatments to ensure a personal touch.

The 10 Text Challenge

One of the most effective strategies we discussed in the webinar is “The 10 Text Challenge.” This challenge is designed to reactivate past patients and fill your schedule quickly. Here’s a brief overview:

  1. Prepare Your List: Focus on past patients from the last 6 months to 2 years, segmenting by payer and diagnosis.
  2. Craft Your Message: Keep it brief and personal. Example: “Hi [Patient Name], this is [Your Name] from [Your Practice]. It’s been [Time Period] since we last saw you for [Condition]. How are you doing?”
  3. Send and Monitor: Personalize each message and be ready to respond quickly.
  4. Respond and Engage: Use questions to show care and guide patients towards booking an appointment.

Ready to take your practice to the next level? Download our free 10 Text Challenge template!

Benefits of the 10 Text Challenge

The 10 Text Challenge offers numerous benefits for your practice. By sending personalized messages to past patients, you can achieve a high response rate, which leads to quick reactivations and appointments, increasing your practice’s revenue. The challenge enhances patient satisfaction by showing you care about their well-being and improves the overall efficiency and profitability of your practice, making it an essential part of any comprehensive physical therapy marketing strategy.

Try it out for yourself

Text messaging is a powerful tool for patient reactivation and driving practice growth. By implementing the 10 Text Challenge, you can quickly fill your schedule, improve patient engagement, and increase your revenue. If you’re ready to increase your profit margins by $10K guaranteed, apply for Profitability Under Pressure today. You’ll learn even more keys to increasing profit margins, connect with like-minded owners, and achieve financial stability and growth.

Apply to Profitability Under Pressure where practice owners will learn how to use text messaging for profit and patient engagement, optimize hiring processes

Increasing Profit Margins in Private Practice: 3 Key Strategies

In the realm of private practice, particularly within physical therapy, the landscape is ever-evolving. Owners face a myriad of challenges, from dwindling reimbursements and rising operational costs to the increased competition that’s part and parcel of the healthcare sector. Carl Mattiola, co-founder of Breakthrough, and Chad Madden, physical therapy practice owner and co-founder of Breakthrough, recently shared their insights during a webinar aimed at unlocking the secrets to increasing profit margins despite these growing pressures.

Navigating the Storm: Finding profitability in challenging times

Chad began the webinar with a candid exploration of the current state of physical therapy practices. He highlighted an all-too-common scenario: practices struggling under the weight of increasing inflation, declining reimbursements, and a decreased willingness to pay out-of-pocket expenses. This cocktail of challenges is pressing practices from all sides, squeezing the margins that keep them afloat.

However, it’s not all doom and gloom. Chad’s “Profitability Under Pressure” program offers a beacon of hope. This program meticulously maps out eleven strategies that practices can adopt to improve their profit margins, thereby securing a more stable future for their businesses.

Real-Life Success Stories

The proof, as they say, is in the pudding. Chad proudly shared success stories from practice owners who have seen remarkable improvements after implementing strategies from the program. One owner successfully negotiated better insurance rates, another uncovered $1.3 million in leaked profits through an audit exercise, and yet another reactivated 40 past patients with a single text message. These stories underscore the program’s potential to enact real change.

The Three Pillars of Profitability

Chad’s seminar drilled down on three fundamental strategies to enhance profitability;

1. Maximizing Schedule Capacity

A seemingly simple yet often overlooked strategy is the optimization of schedule capacity. Chad argued convincingly for this approach, stating that additional appointments can significantly boost profit margins without necessarily increasing overhead costs.

2. Improving Payer Mix

Adjusting the payer mix towards more favorable terms can also have a profound effect on a practice’s bottom line. This may involve tough decisions, such as dropping low-paying insurers or renegotiating contracts, but the potential rewards are undeniable.

3. Increasing Lifetime Patient Value

Finally, focusing on the lifetime value of a patient can unlock new revenue streams for practices. Whether through reducing patient drop-off rates, encouraging reactivations, or introducing cash pay services, there are multiple ways to extend the value derived from each patient.

Take Action Today

In closing, Chad’s message was one of hope tempered with realism. Yes, the challenges are significant, but with the right strategies and a willingness to adapt, physical therapy practices can not only survive but thrive. His parting advice was a reminder that in the face of adversity, action is the most potent weapon. Whether by joining his “Profitability Under Pressure” program or independently seeking solutions, the time for action is now.

This webinar underscored a pivotal truth: in the changing landscape of private practice, adaptability, and resilience are paramount. By embracing innovative strategies and steadfastly pursuing efficiency and growth, practices can navigate the pressures of today’s healthcare environment and emerge stronger on the other side.

If you’re ready to increase your profit margins by $10K guaranteed, apply for Profitability Under Pressure today. You’ll learn even more keys to increasing profit margins, connect with like-minded owners, and find peace of mind with better safety buffers in your finances.

Profitability Under Pressure

7 Step Profitability Checklist

The healthcare industry is competitive, and the landscape is rife with financial obstacles. Declining insurance reimbursements force physical therapists to do more with less. Operation costs are rising, and recruiting and retaining top talent is costly. Faced with these challenges, how do physical therapy practice owners increase profits? (Read on to increase your profits using our comprehensive profitability checklist)

Sustained profitability certainly has its challenges. But it’s entirely attainable with the right strategies and a direct approach. It’s also important. Being profitable isn’t just a measure of financial success; it’s a crucial factor for the longevity and quality of services provided.

You may be on thin ice if your profitability margin is 10% or lower. Slight speed bumps could potentially shut the doors of your business. Aim for at least 20–25% profit margin to avoid that. Here, you’ll be significantly safer and remain competitive.

In this comprehensive guide, we address common misconceptions and share simple strategies that will help you increase profits and boost your bottom line. Let’s dive in.

The Profitability Checklist: Navigating Financial Success

Our profitability checklist will steer your practice toward a financially secure future. These critical items are meticulously designed to address the unique challenges faced by physical therapy practices:

  1. Filling Schedules and Utilizing Practice Space
  2. Maximizing Practice Space
  3. Building a Waiting List and Diversifying Revenue
  4. Adding Cash-Pay Services
  5. Attracting High-Paying Patients and Enhancing Efficiency
  6. Dropping the Lowest Payers
  7. Renegotiating Reimbursement Rates

1. Filling Schedules and Utilizing Practice Space

To increase profits, physical therapy practice owners need a strategic approach. For starters, try filling up your schedule and making the most of your practice space. Efficiency is paramount when it comes to scheduling patients. Every empty slot represents lost revenue.

For instance, if your schedule allows for 150 patients a week, but you’re only seeing 120, you’re running at 80% capacity. If each visit is worth $90, you’re missing out on 30 slots—$2,700. This money is additional profit, as the existing revenue already covers your regular costs, such as salaries and rent.

What’s more, when your schedule remains underfilled, it doesn’t just result in a missed opportunity for revenue—it also impacts the operational efficiency of your practice. Unfilled slots lead to underutilized clinician capacity, so you’re not maximizing your team’s expertise and physical space.

Increase Profits With Optimized Scheduling

There are several resources and marketing strategies that can help you fill up your schedule and increase profits, including:

  • Implement Online Bookings: This removes an additional step for your patients. With online booking, they’ll be able to see multiple slots available and can schedule appointments at their own convenience.
  • Send Patient Reminders: Send appointment reminders via email, text, or phone calls to reduce no-shows and last-minute cancellations.
  • Implement a Cancellation Policy: Consider charging for missed appointments. A fair cancellation policy will discourage last-minute cancellations and no-shows.
  • Diversify Services: Expand your services to include specialty programs or classes, such as nutrition and wellness programs. This will give your patients more reasons to visit your practice.
  • Educate Your Patients: Educate your patients so they don’t give up on their treatment mid-way. Explain the benefits of physical therapy and why they should have consistent attendance.

2. Maximizing Practice Space

Underutilized space means reduced profitability. If you have a 3,000-square-foot space, you should be able to schedule 300 visits a week. Similarly, you can book 500 visits a week for a 5,000-square-foot space. 

Imagine if you have three clinicians seeing 100 patients a week when the capacity for your practice might be 300 visits a week. This means your practice space isn’t optimized, which leads to missed opportunities. Unused treatment rooms or empty time slots translate to a drop in revenue. Every inch of your facility should contribute to your practice’s financial health.

To maximize your practice space, you can start by optimizing clinician capacity. When therapists are able to see more patients during their work hours, it gives you more opportunity to increase profits. For instance, say each clinician can accommodate five extra patients due to better scheduling and more efficient use of treatment rooms. Over the course of a week, you’ll see a significant increase in billable hours and revenue. 

In addition, an efficiently managed clinic means reduced downtime between patient appointments. Clinicians can seamlessly transition from one patient to the next, minimizing non-billable hours.

Another way to maximize space is through efficient space management. A well-organized clinic can improve patient experiences, enhance their satisfaction, and encourage referrals. You’ll also be able to accommodate more patients and reduce overhead costs, which contributes directly to a healthier bottom line.

3. Building a Waiting List and Diversifying Revenue

Building a waiting list for appointments can be a game-changer for your practice to increase profits. It’s not just about managing a busy schedule; it’s also about creating demand. 

When potential patients learn that your clinic is in high demand, it piques their interest. A weeks-long waiting list for an evaluation signals that your services are sought-after. Alternatively, getting an appointment within 24 hours could be considered a red flag. It might even raise an eyebrow over your competence. So, if you want to be considered the best in your area, having a waiting list can be a key differentiator.

In addition, a waiting list will reinforce the value of your practice. This perception can lead to an influx of new patients eager to secure an appointment, driving up your client base and revenue.

What’s more, a waiting list is also a gateway to diversifying your services and revenue streams. Consider this: while patients wait their turn, you could promote online resources or additional services. This can generate revenue before patients even step into your clinic. Specialized workshops, online training, or home exercise programs that cater to different needs can expand your reach and your income potential.

And let’s not forget that a waiting list can be a treasure trove of data and insights. Analyze it regularly to identify patterns and trends in appointment requests. This information can guide you in optimizing your schedule, staffing levels, and service offerings. As a result, your practice will be even more efficient.

4. Adding Cash-Pay Services

Another way to increase profits is to market supplemental services, such as dry needling, personal training, small group fitness classes, massage therapy, and laser light therapy. All these services can be billed as cash services. Plus, the additional offerings cater to a broader spectrum of patient needs, increasing your appeal and revenue potential.

One of the standout benefits of cash-pay services is their independence from insurance reimbursements. While insurance-based treatments have their merits, they often come with administrative hassles, limitations, and unpredictable reimbursement rates. Also, insurance companies have been decreasing revenue—especially relative to inflation— while the cost of doing business is going up. So, it makes sense to add cash-first services.

Cash-pay services provide a direct and reliable income source. They’ll offer you greater control over pricing, allowing you to set fees that accurately reflect the value of your specialized services.

5. Attracting High-Paying Patients and Enhancing Efficiency

To increase profits for your practice, it’s essential to direct your focus toward attracting high-paying patients. For this approach, you’ll need to arrange your patient base by reimbursement rates. This is a fundamental way to optimize healthcare revenue—not all patients yield the same financial return.

Reimbursement rates vary widely depending on insurance providers, plans, or self-pay arrangements. Some payers offer higher rates, while others provide less favorable compensation. For instance, your bottom list will include the lowest payers that may be paying you $50–$70 capped per visit. At the top of the list will be your best payers, whose insurance companies pay you as much as $120 per visit.

Imagine how it would increase profits for your business if 90–100% of your patients were your best payers! You can achieve this by networking with employers in your area who offer such insurance to their employees. These best payers not only provide better revenue per patient, but they also reduce the administrative burdens associated with managing multiple low-paying contracts. Also, satisfied patients are more likely to refer others, further bolstering your practice.

Another small benefit is that these patients may be more financially stable and motivated to complete their therapy plans. This means higher compliance rates, shorter treatment durations, and better patient outcomes. 

6. Dropping the Lowest Payers

Many practices retain a diverse payer mix so they don’t risk losing referral sources. The fear is that dropping low-paying payers might alienate referring physicians or other sources of patient referrals. However, you should still consider it.

Here’s the truth: Not all payer sources are created equal. Some payers offer reimbursement rates that barely cover your overhead costs, let alone generate profit. By holding onto these low-paying payers, you might find yourself trapped in a cycle of barely breaking even.

While dropping low-paying payers might seem like a risky move, it’s a smart way to increase profits. It allows you to free up resources and time to be redirected toward serving higher-paying patients or diversifying your services. 

Also, when you drop low-paying payers, you’re essentially making a statement about your practice’s worth. You’re saying that your expertise and services command a certain level of compensation, and you’re not willing to compromise on that value. This can positively impact your practice’s reputation and bottom line.

What’s more, it’s essential to remember that the goal isn’t just to increase revenue—you also want to optimize profitability. Focusing on higher-paying payers and self-pay options can generate more substantial profits per patient session. This allows you to invest in your practice, provide better patient care, and even explore new revenue streams without being tethered to the constraints of low-paying contracts.

7. Renegotiating Reimbursement Rates

There’s a common misconception in the healthcare industry that smaller practices can’t effectively renegotiate reimbursement rates with insurance providers. However, this notion couldn’t be further from the truth. In fact, negotiating fair reimbursement rates isn’t only possible for smaller practices; it’s also essential for their financial sustainability.

You might assume that you lack the bargaining power of larger healthcare organizations and that insurance providers won’t entertain rate negotiations. While it’s true that negotiations can be challenging, success stories from small practices prove that it’s entirely achievable. In short, to receive something, you have to ask for it:

  • Compile compelling data showcasing high patient satisfaction rates, positive outcomes, and cost-effective treatments. 
  • Approach insurance providers with this evidence to renegotiate reimbursement rates. 
  • Be persistent in your follow-ups. 
  • Diligently negotiate for rates that align with industry standards. 
  • Leverage your reputation for delivering exceptional care.

Efficiency in Scheduling and Billing

A notable trend in the industry is the move toward shorter appointment times. Several physical therapy practice owners are slowly changing their scheduling, cutting sessions from 60–75 minutes to 40–45 minutes. Some are even capping their sessions at 38 minutes, in compliance with Medicare, so they don’t leave money on the table.

While this may seem counterintuitive to profitability, it’s about making the most of each session. Shorter, focused appointments can increase the number of patients seen per day, boosting your revenue potential. However, this approach must be balanced with maintaining high-quality care and patient satisfaction.

Diversifying billing based on clinical progression is another key strategy to increase profits. Mary Daulong from Business and Clinical Management Services (BCMS) explained that this can help you avoid underbilling and maximize PT billing units. Instead of billing the same rate for every session, consider varying rates based on the complexity and progress of treatment.

Increase Profits With Breakthrough’s Free Profitability Checklist

In today’s fast-paced and hyper-competitive world, private practice owners must look for new ways to increase profits. Everything from filling up your schedule to billing efficiently are steps toward that. These interconnected items collectively shape your practice’s profitability. They may be small steps, but when you adapt these strategies together to your unique circumstances, you’ll increase profits for your practice.

Breakthrough helps physical therapists increase their profitability by adding $10,000–$25,000 monthly in revenue. We’ve developed a proven step-by-step system that’s helped over 2,000 private practice owners in 12 countries grow their businesses.

Download our detailed checklist and increase your profits today.

 

Ready to Improve Your Profits by $10,000 Within 90 Days?

If you want to work with a program director and understand exactly how you can improve your revenue per visit, consider scheduling a 1-1 Profit Strategy Call. You’ll gain insights into which strategies are best for your clinic, or if you’re a good fit for our Profitability Under Pressure Program.

Profitability Under Pressure

Several factors can affect the value of a physical therapy practice, including the size of the operation, consistent growth, and opportunities for expansion. Buyers are interested in practices with consistent growth records, high margins, and potential for further growth.

To increase practice earnings and value, owners should focus on three key areas: marketing, personnel, and revenue cycle management. Effective marketing strategies, such as email and text campaigns, online advertising, and a professional website with positive reviews, can drive patient acquisition and retention.

Factors Affecting Practice Value

While numerous factors will affect the value of your practice, we’ve identified three primary focus areas:

1. The Size of Your Operation

While the actual size of your operation in terms of practitioners and monthly visits is important, your earnings and margin are critical. A bigger practice doesn’t always equal greater revenue. 

Consider two businesses with the same number of possible monthly visits. One has a 20% margin, the other a 10% margin. Both have a high number of visits. But if you’re the business with a lower margin, the buyer is going to overlook your practice as the profitable option.

2. Consistent Growth

Buyers want to invest in a business with consistent growth records. Again, if you haven’t continued on a steady growth journey post-pandemic, now may not be the best time to sell (if you want to maximize value).

3. Opportunities to Expand

Buyers want to know that their investment has further growth potential. In the current state of your business, consider whether:

  • You easily draw clinicians/new hires.
  • There’s scope for improved space utilization.
  • There’s scope for clinic expansion in a new location.
  • You have a demand for services that you’re not currently meeting but have the potential to meet.

The Growth Formula: Marketing, Personnel, Finance

There are hundreds of tactics you can employ to increase your practice earnings. But in general, all effective, lasting business growth comes down to three key principles: marketing, personnel, and revenue cycle management. By focusing on these key areas, you’ll be well on your way to transforming your practice value in just a few months.

1. Investing in Marketing

As private PT practice owners start to feel the pinch of operational cost increases and reimbursement cuts, their initial response is often to cut expenses such as their marketing budget. But effective marketing is key to getting (higher paying) feet in the door. Reducing your efforts is counterintuitive to driving revenue and growth. 

Simply put, marketing drives patients, patients drive visits, and more visits increase revenue. Physical therapy marketing is also critical to generating consistent year-round patient demand.

Direct access marketing

 lets you take control of your growth. If most of your clients come from referrals, you’re missing out on potential business. At Breakthrough, we equip PT practices with marketing strategies and tools that are effective in the physical therapy industry specifically. We’ve found that the most successful marketing strategies for PT practitioners are:

Email and Text

Use these tools to reactivate your past patients—one of your most valuable assets. Email and text are low-cost but effective ways to nurture clients and draw them in with special offers. 

  • Maintain a patient contact list and communicate with weekly, bi-weekly, or monthly email newsletters. 
  • Provide value by focusing your newsletter content on the readers’ needs. 
  • Combine promotions and educational material and offer solutions to their problems.

Newsletter management doesn’t have to be labor intensive. Breakthrough offers an email marketing platform with PT-specific email templates that are proven to work. This means you don’t have to build emails from scratch. With integrated performance analytics, you can also gauge what drives results.

Online Advertising

Social media and online marketing are imperative to attract patients to your clinic. Strategically placed social media ads boost both brand recognition and brand value.

However managing multiple social media channels can consume a lot of time. Breakthrough’s automated ads cut the hassle with direct response marketing and messaging tailored to your patients. Our platform offers thousands of campaigns already optimized and 100% HIPAA-compliant.

Reviews and Website

Past patient reviews and a professional website both play a significant role in converting patients. Reviews act as social proof, demonstrating your expertise and the quality of your care. Similarly, a professional, well-designed website creates a positive impression and instills confidence in potential patients. 

Your website should showcase your services and expertise and serve as an informative and educational hub for people to refer to. Not only does this help to build trust and convert, but it also establishes you as a leader in your field of expertise.

2. Personnel

When you invest in your employees, you’re investing in the growth and development of your business. By giving them the necessary resources, training, and opportunities, you empower them to perform at their best and contribute to the overall success of the business.

When you invest in training programs, your practitioners stay up to date with the latest advancements. This improves their ability to assess, diagnose, and treat numerous conditions effectively. It also ensures they have the necessary knowledge and expertise to provide superior-quality care to patients, leading to increased patient satisfaction and retention. Continued professional development fosters job satisfaction and enables your practitioners to advance their careers.

What’s more, investing in your team builds a positive work culture, boosts employee morale, and increases engagement. When your staff feel valued and supported, they generally display increased motivation and loyalty. This boosts retention rates and reduces recruitment and training costs in the long run.

Training and development are just as essential for your administrative staff. Continued skills development for front- and back-end administrators will ensure efficient revenue cycle management and claims processing, which improves the patient experience.

When employees can learn and grow, they’re more likely to think outside the box and come up with innovative ideas and solutions. This can give your practice a competitive edge in the market.

3. Managing Finances for Growth

Allocating money toward business growth is key to expanding and improving your practice. Start by defining your growth goals and identify the areas you want to focus on. This can include hiring more practitioners, increasing your client base, investing in new equipment, or opening a new location.

Evaluate your growth opportunities and prioritize them according to their potential return on investment (ROI). You should also be proactive in financial planning.

Effective revenue cycle management is the backbone of building a financially successful practice. Make sure you’re incorporating the following practices as a base for business operations:

  • A comprehensive bookkeeping system
  • Accurate expense tracking and monitoring
  • Up-to-date financial records
  • Realistic fee structures
  • A plan for taxes and financial obligations
  • A streamlined insurance billing system

Growth Starts Here

Whether you’re hoping to sell your practice in two, five, or 10 years, the steps you take today can impact your business value. From improving revenue cycle management to marketing more strategically, there are highly effective ways to boost your earnings regardless of the financial position you’re in.

Get a team of PT practice growth specialists on your side with Breakthrough. Schedule a Practice Growth Strategy Call to see how the $20M Marketing System can work for your unique practice. Practice Growth Strategy Call - Blog - CTA

ebitda physical therapy practice value

When attempting to determine a realistic valuation for their practice, owners often face several barriers, including unrealistic expectations and ignoring the buyer’s perspective. They underestimate the value of systems and processes when increasing EBITDA.

To accurately determine practice value, a common method is to calculate an industry-defined multiple of the practice’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization). This involves establishing the practice’s income after expense deductions and adding back interest, taxes, depreciation, and amortization.

Common Barriers to Achieving Realistic Valuation

Three barriers continue to surface when PT practice owners try to determine a realistic business sale value: 

Unrealistic Owner Expectations

Earlier, we mentioned the importance of maintaining growth goals. Your practice may have been busting at the seams pre-pandemic. But if you haven’t maintained that growth, your practice worth has diminished. 

Your business value is only as good as your current operation. To offer a future value proposition for buyers, you need to maintain consistent growth.

Ignoring the Buyer’s Perspective

A key factor to consider when planning to sell is whether the current state of your practice is an enticing proposition for an investor. Ask yourself these questions:

  • If you were the buyer, would you want to invest in this business?
  • What are buyers looking for?
  • Does your business meet these investment demands?

Underestimating the Value of Systems and Processes

The systems you have in place are key to maintaining operational efficiency and continued growth. For instance, inefficient and insufficient revenue cycle management systems mean the buyer will need to put these in place. Essentially, that requires more time and financial investment on their part. It also means slower initial growth. 

These factors are a noteworthy deterrent to investing in a business and a significant value downer.

How To Accurately Determine Practice Value

One basic way to determine your private PT practice’s value is by calculating an industry-defined multiple of your EBITDA value. EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortization. Basically, this is a projection of profitability. EBITDA is calculated on a trailing 12-month basis, excluding your salary as the owner.

Prior to selling a practice, it is important to look at all the ways one can potentially work on increasing their EBITDA.

Calculating EBITDA involves establishing your income (earnings) after all expense deductions and then adding back interest, taxes, depreciation, and amortization (debt repayment).

As a rule of thumb, PT practices can expect a business valuation of three times their EBITDA value for operations under $1 million. The multiple range increases with EBITDA value. Businesses over $1 million can work on a multiple of four to five times the amount.

Note that if you do adjust EBITDA by adding the owner’s compensation, the multiplier range will be smaller, generally between 2.5 and four. This is referred to as adjusted seller’s discretionary earnings (SDE).

A side note on increasing EBITDA:

 Some practice owners think they can easily increase their practice value (earnings) by joining with other businesses. But there’s a major limitation to this strategy. For this to work, all practices must operate according to the same revenue cycle management structure. There are strategies that owners should consider before this step when increasing EBITDA.

Owners should align all practice and financial management systems between stakeholders. This is a highly complex and costly endeavor. It’s also impractical as a quick fix for increasing practice value.

Growth Starts Here

Whether you’re hoping to sell your practice in two, five, or 10 years, the steps you take today can impact your business value. Schedule a strategy call with one of our experts and start your growth journey today. 

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Unlocking Billing Efficiencies

Struggling with maximizing physical therapy billing efficiencies and revenue cycles? Explore the potential of effective Revenue Cycle Management to transform your healthcare practice’s financial strategies. #revenuecyclemanagement #PTBilling

Many physical therapy practices make the mistake of tracking what they bill, rather than what they actually collect. It’s essential that you capture the actual amount of money that comes back to you. What’s more, you also need to consider the complex process of revenue cycle management and how much time it takes you to collect this dollar amount. 

Assessing billing efficiency and the overall growth of your business requires a lot more than simply adding up the number of consultations you get through every month. In fact, many private physical therapy practices are neglecting one of the most critical revenue loss areas. 

But you can significantly turn your practice’s revenue around by addressing physical therapy billing inefficiencies and rethinking your payer mix. This extensive guide will put you back on track to success.

A Quick Recap: Revenue Cycle Management

Revenue cycle management entails all administrative and clinical functions that contribute to managing claims processing and generating both payments and revenue. It includes insurance eligibility verification, follow up on payments, claims submissions, and all the tasks in between.

Traditionally, revenue cycle management involves both front- and back-end components. The front end includes patient-facing tasks such as appointment scheduling, eligibility and authorization, patient registration, and upfront payment collections. Back-end functions include claims management, medical billing, reimbursement, and final payment collections.

In addition, there are structural and operational elements to consider. Structural elements affecting your revenue cycle management processes include the practice model, payer mix, and the systems you use. Operational elements include accurate documentation, coding, and patient registration and authorization procedures.

The Significance of Revenue Cycle Complexity

The design and interplay between the revenue cycle structural and operational elements determines your revenue cycle complexity. As private physical therapy practices start to feel the pinch of reimbursement cuts, inflation, and increased operational costs, their first response is often to cut costs and work harder.

Physical therapy practices often cut marketing costs first. This is a poor strategy and counterintuitive to getting more (higher-paying) patients in the door. Another common (and equally counterintuitive) reaction is to fill up schedules with as many patient visits as possible, often to the level of employee burnout. If these patients are low payers, you’ll be working significantly harder with no results. In fact, these extra sessions may be draining rather than increasing revenue. 

Let’s dig into the underlying problem with this strategy. Numerous variables determine the complexity of turning potential revenue and claims into actual cash—i.e., how easy or difficult it is to get paid. These factors include: 

  • The efficiency of your practice operations
  • Billing efficiency
  • The various types of claims 
  • Payer regulations
  • Submission complexities 

The Relationship Between Revenue and Time

You may be calculating revenue per 60-minute patient visit at $80. The patient session may take one hour, but billing processes, back-and-forth communications with the payer, and claim resubmission might take another hour. So, you can essentially cut your predicted revenue per session in half. Earning $80 from one 60-minute session has now taken two hours of work.

We recently spoke with Bob Kowalick, a physical therapist and CEO of Revenue Cycle Solutions, LLC. Based on data collected from hundreds of clinics over eight years, Revenue Cycle Solutions found that revenue cycle complexity can inflate billing process time by 10 times or more. In a practical sense, this means that a 30-minute patient visit could essentially end up being 300 minutes’ worth of work. 

To maximize the value of your practice, you must control all the revenue cycle variables in a way that prevents billing time demand from outweighing billing time supply. If that condition is created, a turning point has occurred.

Revenue per Visit Ceiling and Maximizing Potential Revenue

Another variable and determining factor in your revenue potential is your payer mix. Your payer mix determines how much you get paid and how hard it is to get paid. 

If 70% of your income comes from a problematic or complex payer, it dramatically affects your time to complete billing and claims. The more time it takes you to process each claim, the less you’re earning per visit.

Your revenue per visit (RPV) ceiling is the maximum potential earning value per visit. This figure depends on structural variables such as your payer mix, what you code, and your time allocation. Your revenue cycle objective (RCO) should be to get 100% of this figure. In addition, you want to execute revenue cycle management to convert this revenue potential into cash as quickly as possible.

Your success lies in finding the sweet spot between the number of visits and the revenue per visit (including billing time). Controlling revenue cycle complexity is one of the most effective ways to keep your revenue as high as possible.

If you maximize high-payer visits and minimize your revenue cycle complexity with efficient and streamlined claims processing, you increase the gross value per patient. By getting paid more often and faster, you essentially earn higher revenue for working fewer hours.

Understanding ADO Score and Revenue Cycle Efficiency

The average days outstanding (ADO) score measures the average number of days it takes for a physical therapy practice to collect payments from insurance companies or patients. It’s a key indicator of the efficiency of revenue cycle management in a practice. 

  • A lower ADO score indicates a more efficient revenue cycle. 
  • A higher score indicates potential issues with billing and collections.

Your payer mix can impact your ADO. However, Revenue Cycle Solutions’ ongoing data evaluation of hundreds of practices indicates that 68% of problems come from inside the practice. This means that there’s significant scope to decrease ADO by improving revenue cycle efficiency within the practice. This will help increase your cash flow, reduce outstanding accounts receivable, and improve overall financial performance.

Time Inflators and Their Impact on Revenue

Operational time inflators (OTI) are omissions and errors across all your physical therapy practice functions that affect billing and ADO. Since they’re avoidable, managing and minimizing time inflators are your biggest opportunity to reduce revenue cycle complexity.

For your revenue cycle objectives to be met (maximizing RPV and minimizing ADO), the following conditions must exist:

  • Operational time inflators are quantified, managed, and reduced.
  • The time required for billing processes is less than the billing time supply.
  • Your revenue cycle practices are focused on effectiveness and efficiency.
  • Your revenue cycle team collaborates around shared objectives.

Once you’ve consistently eliminated operational time inflators, you’re well on your way to managing a physical therapy practice that’s highly effective and valuable.

Data clarity around operational time inflators greatly facilitates achieving your revenue cycle objectives. Data collected by Revenue Cycle Solutions indicates that, on average, 28% of all physical therapy practice visits have a claim affected by a time inflator issue. Some practices display OTI issues across 100% of their claims, while others have managed to keep this as low as 6%. 

Assessing your revenue cycle management efficiency can help you identify areas to keep OTIs in your practice as low as possible.

The Relationship Between Revenue and Margin

Physical therapy practices rely on a delicate balance between revenue and margin to ensure their financial stability. By understanding the relationship between these two factors, you can make informed decisions that lead to profitability and growth.

While 

revenue

 indicates the total income generated by your practice, 

margin

 represents the difference between your revenue and expenses. It’s the profit percentage that your practice retains after deducting all costs associated with providing services. A healthy margin allows you to invest in new equipment, staff development, and business expansion.

Time inflators extend across an entire physical therapy practice, from administrative functions and software systems to payers, scheduling, and clinical operations. Physical therapy practices with operational time inflator rates under 10% are generally stable and scalable, as long as their revenue per visit aligns with the cost per visit. But practices with operational time inflator rates at or above 50% will struggle to function as a viable business.

Note that your operational time inflator issues don’t only directly affect your cash flow. They also impact your biller’s time demand, resulting in another unnecessary revenue drain. To increase your margin—and, as a result, your profits—you need to minimize operational time inflators. This will reduce the time drain in your practice operations and cut billing expenses from external (third-party) billing services.

Opportunities To Improve Revenue Cycle Management: The Role of Data

There are numerous ways to improve revenue cycle management. These may include everything from scheduling more patients and communicating regularly to streamlining documentation and upgrading software. Although billing is only one aspect of revenue cycle management, improving this one feature holds significant potential for decreasing revenue cycle complexities.

Using data will help you uncover and understand revenue trends and patterns. You can then identify opportunities for improvement and optimize your billing processes to reduce revenue risks. 

Obtaining this data is quick and easy. Every time your billing team encounters a time inflator in the billing process, they record this incident in a predefined list of time inflators. This way, you can quickly identify which issues are coming up regularly and where you need to adjust and improve your process. In addition, data analysis can uncover potential areas of revenue leakage, such as undercoding or missed billable services.

Common Revenue Cycle Management Billing Issues

Before we get into resources for streamlining your data acquisition, let’s look at common billing issues that could lead to bottlenecks, inefficiencies, and increased ADO scores. It’s essential that your entire team is educated about the critical nature of these issues and the knock-on effect they cause in revenue loss.

Human Error

Data entry errors by front desk staff, such as a misspelled name, incorrect date of birth, or an “O” instead of an “0,” may seem small, but they’re enough to get a claim rejected. Staff need to double-check every entry and confirm the spelling of names with patients if they’re unsure.

Eligibility Checks and Prior Authorization

While front-office staff may verify eligibility on a first-time visit, it’s critical to confirm data and eligibility on subsequent visits as well. Payers are increasingly requesting confirmation of reimbursements prior to patient visits. So, front-office staff can avoid claim denials by completing prior authorization requirements on their end.

Therapists Aren’t Assigning ICD-10 Codes

Accurate claim processing is dependent on ICD-10 codes assigned to medical bills. These codes specify the diagnosis and conditions for healthcare services, allowing for correct reimbursement. The therapist is responsible for assessing the patient and assigning the right code. Failure to do so may result in the claim being denied.

Inefficient Documentation

Claims also get denied without thorough documentation. In the worst-case scenario, your practice may be subject to fines or required to pay money back. 

Getting your therapists to provide complete, detailed, and accurate documentation consistently can be challenging. However, it’s critical to reinforce the importance of this with training and implement therapy software to ensure compliance.

Physician Referrals

While physician referrals aren’t always necessary, checking the requirements and conditions with the insurance provider is essential. Sometimes, claims are rejected due to a lack of physician referrals. In the case of continued treatment, the physical therapist must have the suggested patient care plan approved and signed off on by a licensed physician.

Erroneous Coding and Omitted Modifiers

Coding errors are another easily avoidable cause of rejected claims. If these errors become repetitive, they can lead to a health insurance audit.

Another important consideration is knowing when to use the KX modifier. To be reimbursed for services provided to a Medicare patient after they’ve reached the annual therapy cap, therapists must add the modifier to their claims. It’s a simple but often forgotten step.

Upfront Collections

With increased high-deductible health plans, patients are liable for many healthcare costs. Settling copayments and deductibles at your front desk at the time of the appointment can significantly alleviate revenue cycle complexity.

You can improve point-of-service payments by allowing patients to pay with a credit card and providing financial estimates before appointments.

Outdated Codes and Regulations

Back-end office staff perform charge captures by converting physical therapy services and time into billable charges. This process is often complicated by changing payer regulations and coding guidelines. Codes are updated annually, if not more often. 

Because outdated codes can lead to claim rejection, your team needs to stay updated. To ensure the correct use of codes and modifiers—and remain on top of insurance regulations—your team should regularly review updates from the American Medical Association (AMA) and insurance providers.

Regular training for anyone involved in the coding and billing process is highly beneficial to minimize errors. It also ensures everyone is on the same page.

The Data Project and Business Intelligence

In an effort to simplify revenue cycle management and quantify time inflators for practices, Revenue Cycle Solutions built a platform where their third-party billing team records every time inflator that comes up during the processing of physical therapy claims. The team services hundreds of practices and has captured more than 1 million submissions and counting.

This business intelligence initiative for the physical therapy industry enables Revenue Cycle Solutions to analyze internal practice-generated problems on their clients’ behalf. This analysis serves as a pinpoint indicator of where the practice can improve its processes for an incremental revenue boost.

In addition, the data project offers insights into payer-generated problems and system inefficiencies within the industry.

Case Study

Let’s look at a case study to better understand the impact this can have on your revenue.

Revenue Cycle Solutions has been working with one of its clients for four years. Initially, the physical therapy practice operated at 2,200 patient visits monthly and at a rate of $85 per visit. When it came to billing, the practice saw an incidence or problem rate of 30%. One out of every three claims required additional time and resources due to avoidable inefficiencies.

Despite difficulties in the market, the practice saw significant growth over the next four years by applying data-driven strategies as advised by their billing partner. Today, the practice operates at 5,000 visits monthly, at a rate of $102 per visit. What’s more, their billing or claim incident rate has dropped to only 5%. This improvement in billing efficiency has lowered the practice’s cost of billing by an incredible 40%.

These changes alone have led to a revenue increase of almost $1 million over a 12-month period.

Because it doesn’t cost you more to make these adjustments, your added revenue is 100% profit. You’re essentially performing all the same tasks, just in a more efficient way. In fact, with improved efficiency and lower problem rates, performing the same business functions will cost you less.

Implementing Data-Driven Strategies

Revenue Cycle Solutions invites you to participate in this business intelligence project. By getting your billing team to capture time inflator data in a simple two-click process, you can gain insights into your own practice’s billing inefficiencies. Even better, you’ll contribute to the hub of data collection in this nationwide study. 

To learn more about accessing the data entry system or about billing services for practice improvement, you can contact Robert Kowalick at [email protected].

Unlocking Physical Therapy Billing Efficiencies: Key Takeaways

Revenue cycle management is a practice-wide foundational pillar that centers around creating and maintaining a balance between billing time demand and time supply. To do this, you need to understand and quantify revenue cycle complexities’ structural and operational elements.

The revenue cycle objective is to achieve maximum revenue potential per visit. In addition, you want to convert this potential revenue into cash as quickly (and cost-effectively) as possible.

What’s more, every function in your practice can create risks that prevent you from achieving revenue cycle objectives. Focus first on improving operational time inflators since they’re low-hanging fruit for improving cash flow and lowering cost. Practices with more than 10% of visits affected by time inflators need more effective operational controls.

By leveraging data analytics, physical therapy clinics can identify trends, optimize reimbursement rates, and pinpoint areas for operational improvement.

More Innovative Strategies for Physical Therapy Growth

Effective physical therapy revenue cycle management requires innovative adjustments to continuously shifting regulations and an uncertain economic landscape.

Shifts in authorization, higher deductibles, and a lack of transparency across systems are all challenges that practices face in collecting payments. But by better structuring your revenue cycle processes and payment methodologies, your physical therapy practice can grow and thrive despite these difficulties. 

Not only can you improve ADO scores and reduce claim rejections, but you can also increase patient visits and enhance the visitor experience.

For more strategies to maximize payment speed and boost your bottom line, follow Breakthrough’s Grow Your Practice podcast. Or learn more about our Profitability Under Pressure Program.

Profitability Under Pressure

Building a Healthier Practice

Top 3 Challenges in PT Private Practice

Through a national survey of private practice owners, three primary areas of concern emerged: revenue per visit, profit margins, and staff retention. These elements are foundational to the health and vitality of a practice, yet they are often besieged by external pressures and internal challenges.

Revenue Per Visit

Many practices face fluctuating revenue per visit, which leads to uncertainties in financial planning. With external pressures such as insurance modifications and internal challenges like operational inefficiencies, addressing revenue per visit requires a strategic approach.

Profit Margins

The thinning of profit margins is a red flag signaling the need for operational reevaluation. Whether through cost management or revenue enhancement strategies, bolstering profit margins is essential for financial health.

Staff Retention

The loss of key staff members not only disrupts service delivery but also impacts the practice’s morale and continuity. Developing strategies for staff retention and satisfaction is critical in today’s competitive job market.

Understanding Revenue Per Visit

While revenue per visit remains a pivotal metric, it should not overshadow the broader financial well-being of a practice. A myopic fixation on this metric risks obscuring underlying operational challenges or strengths. It’s vital to contextualize revenue per visit within a broader framework that encompasses overall revenue, costs, and profit margins for a holistic financial assessment.

Revenue per visit, while an important metric, should not overshadow the broader financial health of a practice. A myopic focus on this single measure can obscure the underlying challenges or strengths of a practice’s operations. It’s crucial to consider revenue per visit in conjunction with other metrics, such as overall revenue, costs, and profit margins, to gain a comprehensive view of financial health.

The Practice Health Index

Beyond revenue per visit, assessing a practice’s overall health requires examining a constellation of metrics, including new patient acquisitions, visit numbers, attendance rates, and expenses. These metrics, ideally viewed over time through line graphs, provide actionable insights for decision-making and strategic planning.

Strategic Approaches to Revenue and Staffing Challenges

Addressing the concerns highlighted in the survey involves several strategic approaches:
  1. Examining Revenue and Profitability: Delving into the revenue per visit alongside overall revenue allows practices to identify areas for improvement and growth opportunities. A profit leak audit can uncover inefficiencies or underutilized resources that, when corrected, significantly contribute to the bottom line.
  2. Employee Retention and Development: Understanding the motivations and aspirations of your team can help develop retention strategies that go beyond financial incentives. Regular team-building activities, professional development opportunities, and open lines of communication foster a supportive and engaging work environment.
  3. Diversifying Revenue Streams: Exploring alternative revenue sources, such as adding cash-based services or increasing the frequency of patient visits, can bolster financial resilience. Additionally, renegotiating insurance contracts and focusing on higher-payor mix can improve profitability.
  4. Leveraging Technology for Efficiency: Adopting and optimizing EMR and practice management systems can streamline operations, reduce errors, and free up time for patient care and business development activities.

In Conclusion

The landscape of private practice is laden with both challenges and opportunities. By focusing on comprehensive financial health, being proactive in staff retention efforts, and continually seeking efficiency improvements, practices can navigate the complexities of providing high-quality physical therapy care to their communities.
Profitability Under Pressure
If you want to learn more about these strategies, and how to implement them, consider applying for the Profitability Under Pressure Program. You’ll increase your profit by $10,000 or more in 90 days guaranteed.
Profitability Under Pressure is A 90-day program and masterclass that will help you uncover profit leaks, increase your revenue, and build a thriving practice. Click here to learn more. 

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Strategies to Increase Cash-Based Revenue

In March 2024, EnovisTM hosted a comprehensive webinar focusing on a topic that’s increasingly relevant for physical therapy and rehabilitation practices: cash-based services. The event, which was co-facilitated by industry experts Mark Callinan, Director of Clinical Education at EnovisTM, shared valuable insights and strategies for incorporating and maximizing the benefits of cash-based services within a practice. Here’s an in-depth look at the key takeaways from this enlightening webinar.

The Rise of Cash-Based Services

With declining reimbursements from traditional insurance-based revenue streams, the future for many practices may seem daunting. However, introducing cash-based services offers a beacon of hope. These services not only bolster your clinic’s revenue but can significantly enhance patient satisfaction by providing quick, effective pain relief treatments. Moreover, they differentiate your practice in a competitive market, making it a go-to choice for prospective patients seeking specialized treatments such as laser therapy or shockwave treatment.

The Low-Hanging Fruit: Your Current Patient Base

Leveraging your existing patient base as the primary audience for your new cash-based services is crucial. This approach presents the lowest-hanging fruit, allowing you to generate additional revenue with minimal marketing efforts. Your current patients already trust your care and are more likely to adopt new services that can expedite their healing process.

Marketing Strategies That Work

Among the most successful tactics in today’s industry include hosting an open house event, which serves dual purposes: it educates your current and past patients about the new services and reactivates former patients who might benefit from these treatments. Another compelling strategy involves running targeted email and text campaigns to your patient list, a tactic that has yielded substantial reengagement and revenue generation for practices.

Operationalizing Cash-Based Services

Implementing cash-based services isn’t merely about purchasing equipment and waiting for patients to sign up; it requires a strategic approach to integrating these services into your patient flow. Educate your team about the benefits and application of these services, ensuring they are well-equipped to introduce and recommend them to patients. Importantly, practices need to focus on collecting payments for these services upfront, often through packages, to secure a commitment from patients and streamline revenue collection.

EnovisTM Exclusive Campaigns For LightForce® and Chattanooga® Devices

The Breakthrough-EnovisTM partnership program was designed to aid practices in incorporating and marketing cash-based services effectively. This comprehensive program offers done-for-you marketing campaigns, extensive training for staff, and sophisticated tracking tools to measure ROI, ensuring practices can confidently market and deliver their new services.

A Bright Future with Cash-Based Services

This webinar illuminates the path forward for practices looking to future-proof their operations and increase profitability amidst changing healthcare reimbursement landscapes. By adopting and effectively marketing cash-based services, practices can not only survive but thrive, providing enhanced value to their patients while bolstering their bottom line. As the healthcare industry continues to evolve, embracing innovative service models like those discussed in the webinar will be crucial for sustained success.

If you want to learn more about the EnovisTM exclusive marketing campaigns with Breakthrough, visit http://getbreakthrough.com/enovis/