In this episode Chad addresses the root issue of the FAQ: "How much should I expect to grow coming out of the pandemic now that it's 2021?" 
Tune in to hear how Chad applies Jim Collins' Hedgehog Concept for continual growth despite external roadblocks.

How can I apply Jim Collins’ Hedgehog Concept to Private Practice PT?

Private practice PTs are getting hammered with declining reimbursements and inflation. 

We’ve talked about how you can combat these trends and increase revenue… 

In this episode, we dive into one of the key things you can do to attract your ideal patients and increase revenue per patient. 

When you’re struggling to keep your doors open, there’s nothing more frustrating or damaging to your bottom line than non-compliant patients. 

So how can you fill your schedules with compliant patients who value PT? Tune into this Q&A with Chad and other practice owners to learn:
 
* A process for zeroing in on your ideal patients 
* How to avoid attracting non-compliant patients 
* Strategies for attracting your ideal clients through marketing 

 Free resources mentioned in this episode include:

The Plan of Care Template: https://info.getbreakthrough.com/plan-of-care-lm

A Strategy Call with Breakthrough: https://getbreakthrough.com/demo/ 

How would you like to discover the top insider secrets for improving margins and overcoming low reimbursements? This month, Breakthrough is hosting a 1-day-only free, online event to help you get back to running a profitable practice. 

Get your free ticket to the Patient Demand Summit here: https://bit.ly/422bx5i

Zeroing In On Your Ideal Patients [Recorded Q&A]

One of the PTs on staff at Madden PT recently asked, “Why don’t we lead with manual therapy in our advertising?”

Manual therapy is one of the primary services offered at the clinic, and the full team is certified in it. 

But it’s not highlighted in the marketing.

In this episode, Chad shares why they don’t lead with any treatment types in their marketing. 

He talks through how to think through it from a patient’s perspective, referral source’s perspective, and insurance company’s perspective. 

As a valued podcast listener, you're invited to the Patient Demand Summit: 

A free, online event on May 25th where you'll get insider secrets to improve your margins and overcome declining reimbursements. 

Get your free ticket here: https://bit.ly/422bx5i

Why We Don't Lead with Manual Therapy in our Advertising

Chad sits down with Steven Liska from Limber to discuss the innovative world of Remote Therapeutic Monitoring (RTM). 

They delve into the importance of RTM codes and their impact on reimbursements and patient outcomes. 

They also touch on the challenges of relying on insurance companies for reimbursement and the future trend of hybrid patient support models. 

Tune in to learn more about RTM's potential to improve patient outcomes, increase practice revenue, and navigate the evolving landscape of value-based care.

To learn more about Limber, visit limberhealth.com/breakthrough

Limber is partnering with Breakthrough to deliver insider secrets on improving your margins and overcoming low reimbursements at the Patient Demand Summit. 

It’s a free online event on Thursday, May 25th. 

It’s exclusively for growth-minded practice owners who are ready to take control of their profit margins. Click the link to register: https://bit.ly/422bx5i

Steven Liska of Limber on RTM: Improving Patient Outcomes & Increasing Reimbursements

In this episode, Chad shares a personal story about his 15-year-old son's success in the music industry and extracts valuable marketing lessons that can be applied to private practice. 

He emphasizes the importance of hard work, delayed gratification, and one-to-one communication in achieving success.

Chad discusses how most people overlook the work that goes into success and highlights the need to focus on the daily grind and building strong relationships. 

He also emphasizes the value of working through failure and adopting a strategy of firing bullets before cannonballs. 

Additionally, Chad explores the concept of finding success by paying attention to trends, building networks, and doing personal follow-ups. 

The episode provides valuable insights into the importance of hard work, perseverance, and effective communication in achieving success in today’s world of private practice.

How would you like to get a free strategy call where you can learn how to put these marketing principles into action? 

In this call, you’ll meet with one of Breakthrough’s Program Directors to learn ways your practice can improve profit margins, create demand for your services, and attract better paying patients. 

Copy and paste this link in your browser to sign up for a Free Strategy Call with Breakthrough: getbreakthrough.com/podcastoffer

3 Surprising Marketing Principles I Learned From My 15-Year-Old Son

Chad sits down with Bob Kowalick, PT and CEO of Revenue Cycle Solutions.

Bob shares ways to increase profitability by gaining efficiencies in your billing processes.

They talk through strategies such as: 

-Optimizing your payer mix
-Using data to improve how fast your practice gets paid
-Improving efficiencies in your billing department

SHOW LINKS:

Bob's white paper: Do you have a black hole feeding off your practice?  https://drive.google.com/file/d/1kQucoCt-yY8lgSWRtmSf1CeINvIJIQix/view?usp=sharing 

Bob's contact info: robert@certifiedrsllc.com.

Free growth consultation with Breakthrough: getbreakthrough.com/podcastoffer

Bob Kowalick on Rethinking Your Payer Mix and Unlocking Billing Efficiencies

Are you a practice owner who’s battling against declining reimbursements, upward pressure on increased costs of operating your practice, and shrinking profit margins?

If any of that resonates, then you won’t want to miss this episode.

Chad Madden and Carl Mattiola team up to disclose the 3 keys to increasing profit margins despite declining reimbursements.

You’ll also learn about a new course Breakthrough is offering to help owners deal with these issues and implement solutions to become more profitable. 

If you’d like to learn more about this course and ask Chad questions about it live, you can sign up for a live webinar happening next week on this exact topic. There are two dates you can join (pick the one that works best for you): Tuesday, June 13 or Thursday, June 15. 

Sign up for one of the live webinars here: https://bit.ly/3J341jA

Ready to get started and want to Apply for Profitability Under Pressure Now? Visit https://bit.ly/3N1JA7M

Profitability Under Pressure: How to Increase Profits Despite Declining Reimbursements

Jarid Adams is Co-Founder of Theracentric, a Remote Therapeutic Monitoring tool that can help practices increase revenue by more than $100 per patient. 

With declining reimbursements, we have to look at new ways to increase revenue per patient.

Remote Therapeutic Monitoring is one avenue you can explore to help increase insurance-based revenue, while simultaneously improving patient outcomes. 

In this episode, Jarid shares advancements in RTM, how to get your team onboard to buy in, and what a hybrid treatment model can look like. 

To learn more about Theracentric, visit www.theracentric.com or find them on Instagram @theracentric

If you’re looking to get your profit margins back on track and gain financial stability in your practice, you could be a great fit for Breakthrough’s new program: 

Profitability Under Pressure. It's a 13-week masterclass for practice owners, where you'll learn...

-How to perform a financial analysis of your practice and create a custom plan for improving profits

-How to drop your lowest payer and renegotiate insurance contracts

-How to implement a cash service to improve profits

-How to systematically attract better paying patients

-How to maximize utilization of space and personnel

To learn more and apply, visit https://bit.ly/3N1JA7M

Jarid Adams of Theracentric: Increasing Revenue Per Patient with Remote Therapeutic Monitoring

Feeling the pressure of declining PT reimbursements and rising costs?

Considering adding cash-based services to increase profitability and improve patient outcomes?  

In this special episode, you’ll hear from a panel of practice owners who added cash-based services and successfully improved patient outcomes while increasing revenue in their practice. 

You'll discover what cash-based services are working today and learn best practices for rolling out a cash-based service in your clinic. 

Guest speakers include practice owners who have implemented therapeutic lasers, electrical stimulation devices, and 3D running technology.

Jason Waz, Practice Owner of Competitive Edge Performance and Founder of NeuPTtech, grew cash revenue to $50,000/month without adding more square footage — and increased revenue by $15 a visit in the first year after adding a cash-based service. 

Maggie Hammerschmidt, Practice Owner of Team Rehabilitation-Lincoln Park, was able to monetize her passion for running and help elevate others who share that passion. 

Tom Loyd, Practice Owner of Bryn Mawr Sports Rehab and Physical Therapy, was able to add cash-based revenue without a lot of extra effort. 

Mark Callanen, Director of Marketing and Clinical Education Recovery Sciences at Enovis reveals how cash-based products can improve patient outcomes while increasing practice revenue.

To learn more about the technologies mentioned in this episode, check out the links below. 

Enovis™ Recovery Sciences: https://www.djoglobal.com/recovery 

Neufit: https://www.neu.fit/ 

RunDNA: https://rundna.com/ 

Lastly, if you’re a practice owner experiencing shrinking profit margins from declining reimbursements...and if you are finally ready to take control of your practice profitability...you could be a great fit for Breakthrough’s new program, Profitability Under Pressure. 

Profitability Under Pressure is a 13-week masterclass where you’ll learn how to create a custom plan for improving your profitability, drop your lowest payer, renegotiate insurance contracts, add cash-based services, and systematically attract better-paying patients. 

To learn more and apply, copy and paste this link into your browser: https://bit.ly/42Uy3gz

The Frictionless Formula for Growing Cash-Based Revenue

Since 2016, physical therapy reimbursement rates have declined by more than 10 percent. 

Yet Tony's practice in Gainesville, Florida has almost tripled revenue in that amount of time.

How'd they do it? One key to success has been Tony's ability to successfully renegotiate insurance contracts. 

Through negotiations, Tony has secured an average 15% increase over the last couple of years. In fact, his largest payer gave him a 10% increase each year for the last 3 years. 

In this episode, Tony shares his exact process and recommendations for other owners interested in renegotiating reimbursements.

SHOW LINKS: 

Read about Tony's story and discover the 9 steps for renegotiating your rates: getbreakthrough.com/negotiating-physical-therapy-reimbursement-rates/

Profitability Under Pressure 13-Week Masterclass: https://bit.ly/42Uy3gz

Tony Cere on Renegotiating Insurance Contracts for Better Reimbursement Rates

Chad Madden talks with Kelly Brown about how Prediction Health is harnessing AI to make compliance and documentation easier and more efficient for physical therapists. 

They talk about how challenging documentation and compliance can be for most therapists. This confusion can result in inefficient processes, compliance risk, and missed opportunities to bill for applicable units.

Kelly shared ways that AI is making documentation easier, reducing compliance risk, and even identifying revenue opportunities. 

Tune in to this episode to learn: 

-How AI can be harnessed to improve PT documentation
-A way you can uncover whether your therapists are billing the appropriate number of units
-Strategies to make billing and compliance easier and more efficient

To learn more, visit predictionhealth.com or reach out to Kelly directly by emailing kellybrown@predictionhealth.com.

Interested in learning more about the Profitability Under Pressure 13-week masterclass? Our first cohort starts next week, so now is the time to act. Copy and paste this link into your browser to learn more: https://bit.ly/42Uy3gz

Harnessing AI for PT Compliance and Documentation

Each week, the Grow Your Practice Podcast with Chad Madden of Breakthrough brings you no-nonsense marketing & business growth strategies that deliver new patients and higher profits.

Co-Founder of Breakthrough, Owner of Madden Physical Therapy and Author of "Killer Marketing Secrets for Private Practice PTs", Chad grew his practice 600% in the last five years using direct response marketing strategies. He sees more than 200 new patients each month in his single location Private Practice. Now he's teaching over 800 Practice Owners to do the same.

How can I apply Jim Collins’ Hedgehog Concept to Private Practice PT?

Grow Your Practice Podcast

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