COVID-19 has created the perfect witch’s brew of intense stress. People across the country are concerned about the health of themselves and their families; job security is shaky (and household incomes are dropping); and basic necessities like food staples and hygiene supplies are still—even after two months—difficult to find.
This is the third blog post in my series on working on your business, when you can’t work in your business. My intention is to help providers improve sustainability and efficiency within their practices, so they can come out of this pandemic with a renewed spirit and the ability to provide maximum benefits to patients.
As consolidation continues to increase, more and more independent PT practices are being swallowed up by national chains and corporations. Now, depending on your business goals, you may be chomping at the bit for an offer (in which case you should check out this post about exit metrics).
Physical therapists are at the forefront of modern musculoskeletal knowledge and expertise—and it’s no wonder why. PT and DPT programs drill into the finer points of neurorehabilitation and musculoskeletal disorders, and active clinical practice keeps those skills fresh—requiring PTs to tap their vast array of scientific knowledge with each and every patient.
Some people believe it takes 10,000 hours of dedicated practice to completely master a skill. It’s a (sometimes) divisive school of thought, but let’s say—for a second—that we live in a world where it’s completely true. Well, in this world, I’m a master social media user.
Health care is an appointment-based industry, which means you only make money when your patients show up for their appointments. Unfortunately, getting patients to do that consistently is no easy task. Missed and cancelled appointments are the bane of many a provider’s existence—at least until they discover integrated scheduling software with automated appointment reminders and waitlist management.
I’ve been discussing the importance of leveraging data to demonstrate the unequivocal efficacy of rehab therapy for a while now. After all, data is objective. It’s clear-cut. It’s obvious—and yes, it continues to be important, whether it’s outcomes data at the practice level or national research studies that prove the benefit of first-line rehab therapy in terms of cost-effectiveness, long-term results, and safety.
We know automated text, phone, and email reminders improve patient attendance rates and help prevent cancellations and no-shows. But, what is the ideal send time and frequency for each type of reminder?
The front desk of a PT, OT, or SLP practice is pretty much its control tower. When front office operations break down—and clinics fail to promptly return patient phone calls, schedule appointments at optimal intervals, check patients in and out, verify patient insurance information, or collect payment—then the efficiency and effectiveness of the entire organization suffers.
If you ever look at negative company reviews on Glassdoor, you’ll see a recurring theme: “Management was awful, but my coworkers were great.” Coworkers can make or break your experience at a company, but even if you don’t immediately click with your team, there are plenty of ways to build camaraderie intentionally.
If you own a business—or would like to own one at some point—then you’re probably on a constant hunt for the secret to entrepreneurial success and the formula for profitability. Business leaders want to know how to maximize profit and streamline workflows without overburdening staff and tanking morale.