Today we are featuring Part II of our interview with Ann Wendel from PranaPT about opening a PT clinic. If you missed Part I, click here. Thanks again Ann!

As with starting any business, there’s bound to be the good, the bad, and the ugly. Tell us about a time that was “bad/ugly” and what you learned from it.
You have to really believe in yourself and you can’t give up. This felt like the most reckless thing my husband and I have ever done! I left a job making a comfortable salary and went right out on my own – there was no easing into it this time. So, I started and the schedule was completely blank. With two kids, it’s really difficult to save up the recommended 6 months of expenses. We had to just keep going past the initial “What are we going to do?” The good news is that as a P.T., you’re always going to find a job. Always having options is good. The huge demand for PTs is not true of all industries, especially in today’s job market.

If you could go back and do one thing differently what would it be?
There were a lot of things I could have changed. I learned from all of it though; so, in the end I wouldn’t change anything. I try to make the best decision I can at the time and run with it. Each thing, good or bad, added to my knowledge base. At the time, each thing seemed like the right thing. Over time, I’ve become a little more sure of myself. There’s no way to not be naive when you’re young. You just need to have a sense of humor.

Today we're excited to release Part I of our interview with Ann Wendel, PT, from PranaPT. Thanks, Ann, for being candid and sharing your story of opening physical therapy clinics with us.

Tell us a little bit about you and your practice.
I graduated from University of Delaware in 1992 with a BS in P.E. Studies, concentration in Athletic Training. My goal was to work in sports medicine. I worked as an ATC in a sports medicine clinic for 3 years while taking more pre-requisites, then applied and was accepted to University of Maryland’s Physical Therapy Program. I graduated with with my Masters in 1998. I started working in a hospital right after graduation. They rarely hired new graduates to work PRN; but, I had more experience because of my years as an Athletic Trainer, so I got the job. I worked in acute care, neuro, and outpatient ortho. From 2003 to 2006 I went out on my own and ran my private practice in space I sublet from a Pilates studio. My next step was to work for a larger Orthopedic practice. I worked there for 4 years until October 2011, when I went back to my own business, Prana Physical Therapy. I now work as an independent contractor for Core Wellness and Physical Therapy in a co-op building. We end up co-treating patients and being more collaborative. We do different but complimentary techniques.

Tell us something we wouldn’t know. This can be an interesting fact, a fun anecdote or even a more formal piece of information about starting a PT clinic.
For my current business, we don’t take insurance. We’re a cash-based clinic, and out of network providers. As I left to start my new business, I had some Medicare patients that wanted to follow me. What I learned through research is that if you don’t accept Medicare, you can’t treat Medicare patients. It’s illegal to accept cash payments from Medicare patients for physical therapy (see Section 40 of the Medicare Benefit Policy Manual from CMS). Medicare patients can only pay out of pocket when they see a P.T. for “Wellness” (i.e. general conditioning and not treatment). This is a little known fact that is devastating for a small practice (read Ann's blog post on the topic for more info). These are the folks that typically need care beyond what Medicare can pay, and they are not able to come see you. If you didn’t know about this and you got audited by Medicare you’d be in trouble. The way the code is written, the only practitioners who cannot opt-out of Medicare are P.T. and Chiropractic. 

It seems like there is a new digital marketing tool available every minute nowadays. Between social networks, online advertisements, and daily deal sites, its tough for a Physical Therapy clinic to know which way to turn. Before you consider buying into the latest and greatest trend in online marketing and advertising, maybe its time to evaluate your more traditional marketing tactics.            
 
Marketing and advertising has to be driven by your target market. Are your target patients predominantly on the web and is it cost effective to advertise to them there? Truth is, that more traditional tactics such as buying a simple print ad in your local periodicals could net your clinic as much ROI as any online campaign. Print campaigns tend to get a bad reputation, but the truth is that it’s all about the market that you are in. It’s going to be much harder to launch an effective print campaign in a major city like New York or Chicago than it is in a smaller community or suburb. If you don’t do business in those larger and more crowded markets, print advertising might be a good choice for you. If you plan to venture into the world of print marketing, are a few things to consider.
 
Where are your potential customers reading?

Print advertising can be costly, so it’s important to target your customer base as closely as possible. If you are trying to target mostly sports injuries you can advertise with local fitness clubs, or a local athletic newsletter. The more local the periodical is, the better target you will typically be reaching. Some clinics tend to think bigger is better and will put an ad in their city’s largest newspaper. This approach will get you frustrated quickly and also clean out your wallet. One way to ensure you are targeting your customers accurately is to ask your existing patient base what they read on a regular basis and go from there.
  

Use data to decide where you will advertise

Data should drive your decision when its time to decide which publications to advertise with. You already narrowed down your search by analyzing your audience; now its time to ask those publications for demographic and circulation numbers to narrow your search down even further. Every publication has these numbers available for possible ad buyers. Taking a look at these two figures will make sure that your target audience is well represented in the readership. This is a great way to validate your assumptions about your target market.
  

Set a budget and stick to it

It’s important to remember that selling print ads is how periodicals make money. When you call into the sales line, you are going to speak with an account representative who is going to try to up sell you. Information gathering is going to be important to making sure your budget is maximized. Ask the representative for a rate sheet or a rate card.  Having this information will allow you to make your own decisions about ad placements and sizes regardless of what the account representative has to say. If you plan to advertise more than once with a particular outlet, ask the sales rep about bulk buying discounts. Usually they will give you a break if you are buying ad space for more than one issue.

One of our New Years Resolutions this year is to tap into the brilliant minds that are a part of the WebPT member base. We have over 8,000 members, many of them in private practice, and I think we could all benefit from tapping their collective knowledge. Between guest blogs and interviews, you will be seeing a lot more WebPT customers around here ready and willing to share their wisdom.

I recently had the opportunity to pick the brain of Adam Banks, CEO of NY SportsMed in Manhattan. This month we are talking all things marketing, so I wanted to see what a business minded clinic owner had to say about nurturing and growing a sustainable referral base.

Tell us a little bit about yourself, your practice, # of clinics, staff, location, years in business.

I run NY SportsMed in Manhattan. We opened our doors 5 years ago and each year we have made major investments back into the business. We opened 3 locations in the first 4 years.  Our total staff consists of about 55 employees, inclusive of 14 physical therapists and a host of support staff.  Each of our 3 locations  located in very high-density areas of NYC and are very close to major transportation hubs.  New Yorkers tend to be very neighborhood- centric. It was important for us to have multiple locations so patients don’t have to travel too far out of their normal commute to see a physical therapist.

 I am not a PT. This has given me a unique perspective on the practice and has actually been a big help in building our business.  I don’t look at the business the same way practitioners do.  I am currently pursuing an MBA so that I am better able to manage a large and rapidly growing company.

Tell us something we wouldn’t know about NY SportsMed.

NY SportsMed has had the opportunity to work with some pretty famous clients. One of our PTs traveled with Bruce Springsteen’s band.  Krista Simon was Clarence Clemmon’s personal PT.  Krista actually went on tour with them, traveling the globe.  She developed quite a bond with Clarence, so much so that he even mentioned her in his book.  We were very saddened by his passing last summer.

What is one thing you think PT’s need to know when marketing to physicians?

Maybe its cliché, but I would challenge PTs to think outside the box and make it memorable.  This past Christmas we must have gotten 14 baskets of candy in the week before Christmas.  We received so many that we couldn’t keep track of who sent them.  We decided to send Apple Nano’s as a “thank you” to our best referral sources last year.  They are $50, about the same cost as a decent basket, and I know that we will be remembered for them.  If you’re going to send a basket, be the first one to send it or send a Thanksgiving basket instead.