When you started your physical therapy practice, your primary focus wasn’t just to make a ton of money like every other big box PT clinic. You got into this business to help people by delivering exceptional patient care that makes an impact on your community’s quality of life.
However, for many clinic owners the transition from physical therapist to CEO is not exactly what they expect. Business ownership involves managing administrative tasks, mounds of paperwork and other non-clinical activities that can often distract you from your core competencies.
This is where outsourcing non-clinical physical therapy services come in.
Outsourcing certain aspects of your practice can bring numerous benefits, enhanced efficiency, increased revenue and even offer greater life satisfaction for you as the owner. To help reignite your passion for physical therapy and offload some of the less gratifying elements of PT clinic ownership, MEG Business will help you determine if it’s time to start outsourcing in your business and guide you through the process.
<<LEARN THE TOP 7 THINGS TO OUTSOURCE AS A PRIVATE PRACTICE OWNER>>
Stop Trying to Do It All Yourself
If you’re like many ambitious PT clinic owners, you want to manage every aspect of your business. From your website to your front desk, you may have an idealized version of what you want your practice to look like, so you choose to wear all the hats.
Brain Gallagher, President of MEG Business and creator of MEG Academy, describes these entrepreneurs as “do-it-yourselfers.” While the entrepreneurial DIY mindset may earn you some early success in your clinic, it won’t help you grow later in your career.
Sam Morjaria, owner of Park North PT, intimately understands the struggle of being a DIY clinic owner. For 10 years, Sam directed and operated most of the day-to-day business at his clinic until he found MEG Business in 2018. Sam started slowly entrusting them to handle all the administrative tasks for his clinic including PT Billing, Credentialing and even Virtual Front Desk services. Since joining MEG, Sam has watched both of his Park North clinic locations in New York City thrive.
MEG has assisted thousands of PT Private Practice owners, like Sam, grow their business. With programs for a physical therapy startup or an expanding business, MEG shares the management and best practices to become a part of the top 10% of private practices nationwide.
Are You Ready to Start Outsourcing Services for Your PT Clinic?
1. Excessive Time Spent on Administrative Tasks
If you find yourself spending a significant amount of time on administrative tasks like billing, scheduling or medical record management, it’s a clear indication that you could benefit from outsourcing. Freeing up your time allows you to concentrate on patient care rather than chasing insurance providers.
2. Lack of Expertise in Non-Clinical Functions
Running a successful PT business involves more than just providing therapy. Tasks like accounting, legal matters or marketing require specialized knowledge. If you or your staff lack the expertise in these areas, outsourcing to professionals can ensure that these functions are handled efficiently and effectively.
Brian adds that PT clinic owners sometimes think that hiring internally is the answer to solving this problem. However, this solution only furthers the disconnect between you and your ultimate goal:
“If you’re trying to supervise somebody in something you don’t even know anything about, it takes your eye off the ball– patient care experience.”
3. Struggling to Keep Up with Industry Regulations
Staying compliant with industry regulations, such as HIPAA, can be challenging and time-consuming. Outsourcing to a provider experienced in healthcare compliance and credentialing can help you navigate the complex landscape, ensuring that your practice meets all necessary requirements.
4. Inefficient Billing & Collections Processes
If your PT billing and collection processes are causing delays, claim denials or revenue leakage, it’s a sign that outsourcing your billing services could significantly improve your financial performance. Experienced billing specialists can maximize reimbursements, reduce errors and streamline the entire revenue cycle.
5. Inconsistent Patient Experience
As your practice grows, maintaining a consistent and positive patient experience becomes crucial. If you’re struggling to provide seamless appointment scheduling, timely communication or smooth operations, outsourcing your front desk services can ensure a consistently excellent patient experience.
6. High Front Desk Staff Turnover and Training Costs
Constantly hiring and training new staff members for non-clinical tasks can be costly and time-consuming. If you find yourself dealing with high turnover or spending significant resources on training, consider outsourcing those tasks. MEG’s Virtual Front Desk service provides you with a reliable team that’s familiar with the ins and outs of billing, scheduling and client management. This can help you save time and money recruiting, training and managing the ever-revolving door of front desk staff.
7. Limited Scalability
If you’re planning to expand your practice or open new locations, scalability becomes a critical factor. Outsourcing provides the flexibility to scale your operations rapidly without the burden of hiring and training new staff. It enables you to seize growth opportunities and increase your reach more efficiently.
8. Inadequate IT Infrastructure and Support
Maintaining an efficient IT infrastructure can be a significant challenge for small to mid-sized practices. If you’re experiencing frequent technical issues, security breaches or struggling with software updates, outsourcing your IT support can provide access to specialized expertise, ensuring smooth operations and data security.
9. Difficulty in Staying Up-to-Date with Industry Trends
Keeping up with the latest trends, research and technology advancements in the physical therapy field is crucial for delivering optimal care. However, staying updated can be time-consuming. Hiring a physical therapy coach keeps you informed about industry advancements so you can stay ahead of the curve without compromising patient care.
10. Feeling Overwhelmed and Burned Out
Perhaps the most critical sign that it’s time to start outsourcing is when you feel overwhelmed, burned out or unable to focus on what you love most—treating patients. If the administrative burdens are taking a toll on your well-being and overall practice performance, outsourcing can help alleviate the pressure and restore balance.
How to Get Started with Outsourcing
For clinics just starting their outsourcing journey, MEG primarily recommends business owners start with PT credentialing, billing, accounting and legal services.
John Repka, the VP of Sales at Parro, an outsourcing platform for financial and accounting services, explains why business owners should choose third-party providers that are proven experts in their field. John’s company, Parro, employs Fortune 500 CFOs and ex-CPAs with decades of experience to help their clients achieve their financial goals.
“Because [our staff] is so experienced and so skilled, they literally do the work in less time because they’re so much more efficient. They’re also used to working and performing at a much higher level.”
Even though outsourcing may seem like an expense initially, hiring out experts to help you operate your clinic is an investment in you and your business which will ultimately set up systems for your clinic to be successful in the long term.
John further advised that hiring out is much different than just hiring an employee:
“They should not just be regurgitating your process back to you. They should be coming to you with the best practices to say this is how you push your practice forward.”
Refocus on What Matters Most in Your Practice by Outsourcing
Outsourcing services can be a game-changer for your physical therapy practice. Whether you’re spending excessive time on administrative tasks, lacking expertise in non-clinical functions, or simply feeling overwhelmed, outsourcing can provide the solution you need.
By partnering with experienced professionals, you can streamline operations, reduce costs and refocus your efforts on delivering exceptional patient care. Contact MEG today to explore how their years of experience offering PT services can help you streamline your practice and allow you to focus on what truly matters – growing your clinic and providing exceptional patient care.
