4 Keys to Maximizing Profits & Patient Commitment | Breakthrough

Sterling Carter on 4 Keys to Maximizing Profits and Patient Commitment

4 keys to maximize profits and patient commitment

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 4 keys to maximizing profits and patient commitment for physical therapists looking to elevate their practices. His insights include tactics for negotiating with insurance companies and ensuring patient accountability.

The 4 Keys to Maximizing Profits and Patient Commitment

1 – 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:

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

2 – 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.

3 – 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.

4 – 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.

On July 18, Learn How to Increase Your Revenue Per Visit

Dr. Carter is speaking at Breakthrough’s upcoming Rev/Visit Virtual Summit. Click here to learn more and register for this free event.

How to increase your revenue per visit with Dr. Sterling Carter

Increase Your Profit By $10,000 or More

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.

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