Do you want to improve your physical therapy business but don’t know what to focus on?
At MEG Business, we know your time is valuable, and you deserve a business that returns a profit without requiring every moment of your time. To have a greater impact, we need to work smarter not harder, so keep reading to discover how to maximize the potential of your business while getting the most out of your investments and resources.
10 Tips for Working on Your Private Practice
Instead of settling for working in your practice, start working on your practice. As you streamline your operations, you can spend more time on the areas you love while delegating the tasks that slow you down.
1. Find your WHY
Nietzsche said, “He who has a WHY to live for can bear almost any how.” As a physical therapist, it’s most likely you got in the industry to help people in your local community heal from injury. Serving the community is how you earn a profit, so ensure you’re embracing it by giving back. Everything you do should be pointed around this organizing principle of care first. When your WHY leads you to make business decisions that provide the best care for the people around you, the local community will be more likely to choose your physical therapy business because they know you have their best interests at heart.
2. Invest in Marketing
A marketing plan is essential for growing your customer base. While you’ll likely have to put in a little more effort to get it up and running, once you set it in motion, you can take a step back and let it run. Consider investing in physical therapy marketing services, which can help local people easily find your business online.
3. Focus on Quality
One fundamental principle for small businesses is to focus on quality over quantity. Applying this to physical therapy means hiring highly trained therapists who provide the highest level of care. Therapists should take time with each patient to truly get to know them. Patients that feel valued and understood will likely refer more customers to you and write rave reviews. Now you’ve created a team of advocates doing marketing and sales for you!
4. Streamline Scheduling
Working smart means delegating tasks to people and software that can perform the task more efficiently. With MEG’s dedicated virtual front desk service, we can help you handle scheduling and intake so that your staff can spend less time booking appointments and more time ensuring patient satisfaction.
5. Diversify or Niche Your Services
By offering a physical therapy specialization, such as sports rehabilitation, neuropathy or pediatric therapy, you can expand your potential client base and better differentiate from the competition. You can also start incorporating cash-based services to your clinic that can easily be added to your service menu such as personal training, massage or weight loss counseling.
6. Invest in Education
The physical therapy industry is constantly evolving with new techniques, research and technology. Send your therapists to workshops and conferences so they continue providing the highest-quality and most effective care. By investing in your staff’s education, not only will you be adding value to your patients, you’ll also be positioning your clinic as progressive and forward-thinking. This will help you attract the best and brightest staff!
7. Network with Healthcare Professionals
Don’t just focus on making connections with other physical therapists. By aligning your physical therapy business with other doctors, such as surgeons, chiropractors, general practitioners and others, you can increase your chance for referrals. Get a good review from a patient? Let the doctor who referred them know with a thank you follow up!
8. Simplify Billing
Medical billing takes a lot of time and requires special training. In physical therapy, you can delegate this task to a third party who can handle all the billing and collections. Consider it an investment that frees up your time to provide better care. MEG’s done-for-you billing service gives you peace of mind that your clinic is staying compliant and everything is coded properly.
9. Focus on Patients
Shifting your focus from profit to a patient-centric business model will show in your quality of care, which increases loyalty and referrals. Offer personalized treatment plans and closely follow up on a patient’s improvement.
10. Create a Collaborative Environment
A collaborative environment creates happy staff, whose positivity improves their care and makes an impression on the client. Delegate tasks to the people who can do them best, outsource where you can and create standard procedures, so your staff can operate confidently and effectively when you’re gone.
MEG Business Helps You Work Smarter, Not Harder
At MEG Business, we’re helping physical therapy business owners like you increase profits and streamline operations. As specialists in private practice management, our coaching and management services can transform your business.
To learn more about how we can help you work smarter, call 727-268-8500 or book your free practice assessment call today.
