World events have created a boom in all things video conferencing. Kids, teenagers, grandmas, and office workers alike are turning to video services like Zoom or Skype to connect with their friends, family, or colleagues—while staying safe at home.
The COVID-19 pandemic has thrown the entire rehab therapy industry a major curveball. From contending with patient attrition to figuring out how to provide traditionally face-to-face treatments from a safe physical distance, PTs, OTs, and SLPs are having to roll with a lot of punches.
For physical therapists, dwindling reimbursements are a fact of life. If that wasn’t stressful enough, PTs are also facing a market that’s growing more competitive every day. So, what’s a PT practice to do? Simple: It’s time to hop aboard the health and wellness services train. But taking a running jump into the world of diverse revenue streams is often easier said than done. A lot can go awry if you don’t look before you leap—from spending too much money on equipment you rarely use to rendering services for which your staff can’t legally accept payment. Fortunately, WebPT is here to help.
If you’ve been to Ascend—or any business-related rehab therapy event—you’ve certainly heard this common complaint: “There are so many patients who would benefit from OT, PT, and SLP—but they aren’t making it into our clinics.” To make matters worse, we therapy professionals aren’t very good at retaining the patients who do come to see us.
There are technology companies in our market that are spreading misleading information about MIPS to convince providers to purchase their products and use their services.
The therapy practices that will be successful and profitable in the current healthcare environment are the ones that expand their revenue potential beyond third-party payments