$10,000 Per Hour Secret for Those in Private Practice
Private Practice Can Keep You Busy Doing the Wrong Things!
Most failing practices seem to share a common denominator, the owner of the physical therapy private practice is not doing what he or she is supposed to be doing. The owner is wasting time. Time is more valuable than money. Money always comes and goes but “time” once spent can never be recouped. As a result, their new patient volume suffers, their cash-flow suffers, their team spirit and morale suffers.
What are the “wrong” things that most failing owners are doing? See below:
1. Ordering supplies ($12/hr job)
2. Sitting on Quickbooks until two o’clock in the morning reconciling, categorizing, etc. ($18/hr job)
3. Standing in line at the post office/bank/etc. ($12/hr job)
4. Inputing billing data, posting payments, sitting on the phone. ($12/hr job)
5. Treating patients full-time (or too much) and not growing your physical therapy business
You are the owner of your business, the CEO, the Captain-of-the-ship, if you fail your business fails. A physical therapy private practice cannot become successful if you do not have a well-trained staff. Training your staff is the closest you can come to duplicating yourself. Training your staff often leads to a return of $10,000 for every hour spent back into the business (usually within 6-months). If you don’t train, you won’t have a business for very long. I am not talking about doing in-services, or training on treatment techniques and proper exercises. I’m talking about real training on how to send a high perceived value to your patients, increasing cash flow, team morale and high performance.
Things private practice owners should be training their staff on, immediately:
1. Words to use and words to NEVER use.
2. How to create an “Experience” for patients versus a mere treatment session
3. How to sell elective/wellness services for immediate cash!
4. How to eliminate “No-shows/Cancellations/Reschedules”
5. What is “Performance” and how do we have it as a team
Building a successful physical therapy private practice, one that becomes a vehicle to independence and freedom, is not common sense. You need real coaching from real experts who’ve done it before and are doing it now. Don’t waste time (and money) trying this and trying that. Don’t suffer when there are real solutions.
For more information on how to train your staff or bring your staff to a workshop to be trained by James Ko and IndeFree go to www.indefree.com