Grow Your Practice Podcast

Winter is just around the corner. And that means it’s time to start planning Q4 marketing campaigns to prevent the traditional slow season. Maintaining steady patient volume throughout the year, and avoiding a seasonal slowdown, is more important than ever.  The profitability of your practice could be at risk. A recent report showed that inflation sped up in August, and the Consumer Price Ind...

Nick Patel, the National Director of Clinical Services for USPH and Executive Director of APTQI, sheds light on the looming 2024 Medicare Cuts that have been proposed. In this episode, Nick shares the basics of the recent proposal, including more cuts to the conversion factor. Chad and Nick discuss the potential impacts — what more cuts mean for your practice and for patients. They also highlight...

The Centers for Medicaid and Medicare Services (CMS) issued the 2024 Physician Fee Schedule (PFS) proposed rule on July 13, 2023. It includes a 3.34% cut to the conversion factor — yet another cut to physical therapy reimbursements. The current conversion factor is already lower than in 1994, when the U.S. dollar held 52% more value (before decades of inflation).   CMS is accepting publi...

One of the most common things we hear from practice owners is challenges around retaining staff.  And it's no surprise. After all, 4 Million Americans quit their jobs in 2021. And 3.6% more healthcare workers walked away in 2020 than in the previous year.  On top of the labor shortage, the industry as a whole is experiencing declining reimbursements and rising costs — making it more diff...

As the Founder and CEO of Include Health, Ryan Eder is committed to fusing design and technology to make physical therapy more accessible.  He’s been building the design and technology for Include Health since 2006.  In this episode, Ryan shares how technology can enhance the connection between the clinician and their patients in between visits and improve patient outcomes. And how it ca...

Planning to sell your practice one day? Whether you want to sell in the next 2, 5, 10, or even 20 years, it’s important to start planning and taking action now to increase your practice value.  In this episode, I walk through how to calculate EBITDA and the value of your practice. I share the 3 key determinants of practice value. Listen in to discover the steps you need to take in your practi...

This episode is a recording from the recent Breakthrough Patient Demand Summit on increasing profit margins. Over 200 physical therapy practice owners were in attendance.  Tyson Wigfall, Head of Marketing at Breakthrough, leads this session.  Tyson is a true marketing expert.  With well over a decade of marketing experience, Tyson works directly with physical therapists to drive mar...

With declining reimbursements and shrinking profit margins, it's important to look at your billing and compliance processes. In this episode, Mary Daulong, President and CEO of BCMS, shares the most common mistakes that cause practices to lose money. You'll discover 3 important compliance strategies to prevent financial losses and increase profits.💲📈 Tune in to discover revenue-boosting complian...

Jason Waz is a physical therapist, private practice owner, and Founder of NeuPTtech. In this episode, Jason shares his journey to financial freedom as a practice owner. He talks about the challenges associated with being a business owner when you have a clinical background, and how he overcame these challenges to scale his practice. One key that led to Jason's success as a practice owner was disco...

Are you a private practice owner struggling to maintain profitability in today's challenging healthcare landscape? In this no-BS episode, Chad shares an essential checklist designed to increase your practice's profitability in 2023 and beyond. Declining reimbursements, rising business costs, and hiring difficulties are pushing practice owners to the brink. Chad reveals a systematic, scientific app...

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 t...

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...

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 work...

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 th...

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 Brea...

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 feedin...

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...

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 potenti...

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 fr...

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 li...

Jeff Langmaid returns to the Grow Your Practice podcast and breaks down top business strategies to improve profit margins. One of the biggest takeaways is the importance of your past patient list…and how you could be standing on a gold mine without even realizing it. Tune in to learn: -How you can tap into the full potential of your past patient list -Why you need to stop advertising discounts -Ho...

Ryan Payne, Wealth Advisor, on Systematic Wealth Building for Healthcare Entrepreneurs, Common Pitfalls in Financial Planning and Achieving Financial Independence.

Matthew Vanderkooi is a practice owner and the co-founder of SolveGlobal — a group that helps organizations connect employees to conservative care solutions. Matthew discusses trends and opportunities in private practice PT and shares how to set up a direct-to-employers program. Want to learn more about SolveGlobal or connect with Matthew? Visit solveglobal.com or contact him directly at mattv@sol...

In this live Q&A with practice owners, Chad talks through how he’s thinking through making up revenue from low reimbursements. He shares strategies like: -What cash pay services are working today -How to think through increasing revenue per patient -The importance of reactivating past patients He also answers questions from the live audience, such as: -How are people managing high demands for sala...

Doug Adams, CEO of RunDNA discusses how 3D technology can elevate the running community and what research says. Tune in to learn about this cash-based revenue stream that can help patients in the running community.