Private Practice Owners Club

Managing your money, and keeping more of it, may be the most important thing to do as an owner. Thus, you need to have the right people on your money team—biller, bookkeeper, accountant, financial adviser. It's easy to find an accountant, but in order to find the right one to work for you, you'll need to know what to expect, how to request what's important and filter out the ones who won't work to...

Recruiting for PTs, general tendencies of PT owners, and emerging EMRs to consider - we talk about it all in this episode of PT Owners Club with special guest, Will Humphreys . Will has his pulse on the PT world with his work in recruiting, Rockstar Recruiter, clinic sales, Multiplexit, billing and collections, and In the Black. He talks about some of his recent experiences attending recent e...

As an owner, “you have to DEMAND profit from your business,” according to Eric Miller. He’s right! Being ignorant or naive about your income is just a way to keep your head in the sand and can make it hard to grow, support your team, or support your family. In this episode, Eric Miller, the CFA of Econologics, discusses what PT owners are NOT doing versus what they SHOULD BE doing to get greater p...

Dropping an insurance contract can be a difficult decision for a PT owner, as it may feel like they’re going against their purpose and commitment to the community. However, maintaining those contracts can be financially untenable and negatively influence our profit, limiting the ability to expand, progress, or better compensate your team members. In this episode,  Trace Kennemore  shares...

  “Whenever our numbers were down, I knew that I needed to improve communication" - Ronny Varga   Physical therapists don't receive specific training on how to sell a plan of care, how to talk to a patient who frequently cancels or is a no-show, or how to keep a patient engaged in their care. As a long-time owner and VP of Operations for a multi-clinic facility, Ronny Varga learned that...

Most Physical Therapy clinics would improve their profits if they dropped their lower insurance payor. In fact, busy clinics would not only be more profitable, but they would also be more profitable with few patients.  Steve Edwards  of  Achieve PT  in Las Vegas experienced it—going from ~$60 per visit to over $100 per visit in the course of one year by dropping two of his lowe...

Implementing Remote Therapeutic Monitoring in a clinic can feel a little overwhelming for some PT owners. In this episode, we talk to Osprey RTM Solutions and Consulting PT  Matt Jurek , a self-made relative expert in RTM coding and billing. He joins Nathan Shields to give a comprehensive guide on integrating RTM programs in PT treatment protocols and how they can benefit PTs and their patien...

Physical Therapy Owners typically have a hard time determining if their billing and collections are going well, leaving it up to the biller or company to stay efficient rather than being able to assess the data on their own. In this episode,  Benjamin Meyer , PTA of  Billing Done Better , shares the three ways PT owners can assess if their billing and collections are doing well without r...

If you want to grow and expand your PT business, as an owner you need the right management team. You need to find the right people who align with your purpose. Don't just hire anyone who is looking for a higher paycheck. You really need to coach your management team. In this episode, we take that advice one step further. In order for your team to grow most effectively, they must receive coaching a...

Shaun Kirk, PT has spent decades coaching PT owners on how to improve their practices and their lives. Now, he shares his wisdom on the PT Practice Success Podcast , and Nathan Shields was lucky enough to be his first guest! In this episode, they discuss what they've learned about PT owner mentalities as coaches of private practice PT owners over the years. Shaun and Nathan have years of experienc...

APTA's 2022 PPS Conference was held last November 2-5. It is a great place to run into people and catch up with other PTs. In this episode, Will Humphreys, the founder of the Healthcare Business Academy, joins the podcast to discuss our impressions after attending APTA's 2022 PPS Conference. Will any group, or anyone, take a stand to change the direction of the private practice PT industry? What c...

Shaun Kirk of PT Practice Success has been a business coach for decades. From his perspective, owners have had to be ever more conscious of productivity and efficiency to be profitable. In the past few years, one KEY STAT has become more critical than ever in determining whether PT clinics will be maximally profitable or not. This episode will cover that one stat, how to implement it, and how to h...

As technology advances, many things are made more manageable, especially in healthcare. Care strategies and delivery become more effective with easier access to health data that's been automatically recorded and reported to the care team. Remote Therapeutic Monitoring (RTM) became accepted by the Center for Medicare Services as of 2022. Thus, Physical Therapists can now bill for apps and "wearable...

Recruiting is something you need to be doing as a business every year. Like a flywheel, you need to create a system with your principles. You also need to be able to retain the right people so that you can grow further. Join Nathan Shields as he talks to healthcare entrepreneur  Will Humphreys  about how you can grow your PT business. Will has plenty to talk about PTs in business, and th...

Are PT owners too busy to change the trajectory of outpatient ortho PT? Are they too worried about the pushback they'll receive when they actually make a stand and say, "enough is enough"? Or do they see what's happening and simply not know where to start to make a difference? October is National PT Month and a time to revisit our Purpose for choosing the PT profession. Will Humphreys and I take t...

While the digital pages are filled with questions about the rehab therapy industry in the future, answers flooded the pages. The sixth annual state of rehab therapy report discusses the most comprehensive analysis of the industry's key trends, challenges, and opportunities. In this episode, Heidi Jannenga , the co-founder of WebPT , summarizes the 2022 State of Rehab Therapy Report  results,...

During COVID, problems with having no-shows started taking a toll in many clinics. Ryan Wooley, PT was sick of high cancellation rates and was frustrated with the PTs on his team being less than productive, so he decided to switch things up. In 30 days, he changed to a pay-per-visit provider reimbursement model; in 60 days, his cancellation rates and productivity levels significantly changed—95 pe...

Avi Zinn , the owner of Druid Hills Physical Therapy , did an Annual Strategic Planning Session with Nathan Shields in early 2022. He developed a clear Purpose, Values, and Top 5 Priorities for the upcoming year. Although visit numbers aren't where Avi expected, Avi has seen significant improvement in the foundation of his business - clinic director development, front desk program with policies in...

PT owners will always have to consider, "Do I take this low-paying insurance or not?" when deciding if they should go in-network with a low-paying insurance company. There are a few parameters to consider when in this situation. In this episode, Michael Kelly  breaks down what he believes are the basic financial principles to help you decide if a contract is "worth it." Love the show?  S...

Stephen Rapposelli heard of a new business, StretchLabs, at The Graham Sessions, and immediately his heart sank. "How do they get away with providing what people believe to be PT?" he thought. However, instead of remaining despondent, he changed the question to, "How can I take advantage of this and build my own version of StretchLabs?" Since then, he's built a successful adjunct to his PT practic...

Technology has made payment collection easier for clinics and patients. It has also made it easier for PT owners to collect outstanding balances. In this episode, Nathan Shields speaks with Sachin Bhatt of Rectangle Health about the current tech advantages that are available—text to bill, QR codes, payment online, secure CC storage, etc. All these options make it easier to collect and make $$. So...

Has your clinic been busy these past months? Are you considering hiring new PTs to solve the problem or dropping low-paying insurance? Will Humphreys , the owner of Rockstar Recruiter , has been helping PT owners recruit well-aligned, quality PT owners. He joins us on the podcast to discuss whether owners of busy PT clinics should keep waiting lists for patients. Will also shares the two things th...

The economic landscape has been changing quite a bit since COVID-19—inflation, the Ukraine-Russia war, supply chain backlogs, etc. And some of these things will obviously affect the PT industry. But exactly how and to what extent? What can be done to alleviate the negative trends?  Dimitrios Kostopoulos, P.T., M.D., Ph. D., D.Sc., ECS , of Hands-On Diagnostics and Hands-On Companies, shares w...

Crafting a content strategy can be daunting, but with a little forethought and planning, it can make the process easy, consistent, and impactful. As Director of Marketing of a large PT group, Peter Decoteau  has to create plans and strategies for large marketing efforts. Every year they put a lot of focus on content strategy – essentially determining what content his company wants to produce...

If you're looking to sell at any time, especially in the next two to five years, this episode is for you! There are things you can do to maximize your sale price, and in this episode, Eric Miller of  Econologics  shares with us 10 factors that make a significant impact. Each of these items doesn't make a huge impact by themselves but combined, they create a well-run, cash-flowing clinic...