Physical Therapy Private Practice: Secrets of the Top 10% - podcast cover

Physical Therapy Private Practice: Secrets of the Top 10%

Brian J. Gallagher, PT.www.megbusiness.com
Welcome to our award-winning physical therapy podcast for private practice owners who want to set themselves up for success and join the industry’s top 10%. Whether your business is just starting up or you’re looking to grow as a business leader and stay on top of industry trends, this weekly podcast hosted by Brian Gallagher, PT and Founder of MEG Business, features actionable insights and tips from physical therapy experts who share the marketing, operations, personnel and clinical secrets that not only improve your practice, but also your life as an entrepreneur!
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Episodes

Ep. 232: How to Stop the Physical Therapy Business Rollercoaster

Things are constantly changing in business, and in your physical therapy practice. You’ll want to start by optimizing your practice to create the ideal company culture. Stop riding the ups and downs of the rollercoaster by implementing these tools and ensuring that there is no area of uncertainty in your practice. Episode at a glance: How do you handle stress? You deserve work-life balance too You do what you do for others Don’t let mystery hold you back Learn more about how we can get you to th...

Sep 07, 202234 min

Ep.231: Stop Worrying About Money Spent, Worry About Money Wasted

Let’s get back to the basics: it’s all about your mindset. Stop wasting your money and time - instead, put it towards investing in your practice, those around you, and in training to strengthen yourself as a practice owner. No matter which professional direction you decide to go in physical therapy private practice, there is training available to you! Episode at a glance: Being a good therapist is not enough Stop wasting, start investing Thrive for the betterment of all Shorten the runway Don’t ...

Aug 31, 202235 min

Ep.230: The State of Rehab Therapy Report Highlights and Workable Solutions with Dr. Heidi Jannenga

We are excited to welcome Dr. Heidi Jannenga from WebPT back onto the podcast! In this episode, Heidi and Brian dive into the major trends and highlights from the robust and collaborative State of Rehab Therapy Report that the WebPT team recently published. Join us for a compelling conversation on employee retention & compensation, company culture, and the direction of the physical therapy industry! Episode at a glance: The State of Rehab Therapy Report is like a plan of care for your busine...

Aug 24, 202249 min

Ep.229: Quick & Actionable Physical Therapy Billing Tips

We graduated from PT School as competent staff therapists, NOT as billers! The top 10% of practices know to outsource their billing so that they have the time and attention to focus on the millions of other components of running a successful private practice. Learn how to have more control over your income and how to manage your finances in this episode! Episode at a glance: What is the team structure? Each post has statistics and products Set firm policies Inspect, don’t listen Communication is...

Aug 17, 202241 min

Ep.228: When is the Right Time to Expand Your Physical Therapy Clinic?

Do you know the difference between scaling and expansion? Do you have your leadership and management in order? Once you’ve fully optimized your physical space, it’s time to learn how to get the structure, systems and tools to expand your operations across your community! Episode at a glance: It’s easier to follow decisions than to make them Scale within your four walls Get started with you and one admin staff Create 6-12 months out Learn more about how we can get you to the top 10% in physical t...

Aug 10, 202242 min

Ep.227: Stop Worrying, Waiting, and Wanting in Business

There are several common denominators for success, but these demand that you STOP: Worrying about payroll? Waiting for things to change? Wanting instead of doing? Don't ride the physical therapy rollercoaster; learn how to grab the steering wheel and take back control! Episode at a glance: Turn the "patient faucet" on and off through marketing Plan, decide, budget If you keep doing what you’re doing, you’ll keep getting what you’ve got Remember the purpose of PT School Start doing things differe...

Aug 03, 202235 min

Ep. 226: Common Physical Therapy Interview Questions (and How to Handle Them) Part 2

As promised, in this episode Brian picks up the actual interview day, how to handle any responses, and how to “close” them as a long-term employee. Tune in to learn how to truly get to know the person, and how to accurately evaluate them as a professional. Make joining your team one of the best decisions your candidate has ever made! Episode at a glance: Be transparent Know the red flags Understand the 8 categories of “the close” Be prepared to give a concession, but ask for one in return Conduc...

Jul 27, 202235 min

Ep. 225: Common Physical Therapy Interview Questions (and How to Handle Them)

We know that the labor force has been challenging (depending on where you are) for various reasons. It’s essential to identify the mental attitudes and mindsets you might run into and know how to attract the most capable employees. Episode at a glance: People will come in on temporary basis (and not tell you) 5 Phase Hiring Program Look for people who are willing, wanting and able Ask about the person Learn more about how we can get you to the top 10% in physical therapy private practice...

Jul 20, 202217 min

Ep.224: Decoding the Secrets to Running a More Profitable Practice

We know that our purpose is to help in physical therapy and beyond, but we also know that we can always strive to better serve, every day. Honestly, the secrets for success start with you. Let’s decode the 4 secrets for true profitability in physical therapy private practice. Episode at a glance: Be willing to not know Become 20% Net profitable (or greater) You can’t plan if you don’t know where you’re going Be willing to develop people Learn more about how we can get you to the top 10% in physi...

Jul 13, 202240 min

Ep.223: Failure, the Double-Edged Sword

We hear great leaders say it all the time: we often learn the most from our failures. Money, time and people will ebb and flow, and it’s important not to sit in your losses or take them personally. How are you going to become an experienced expert if you’re not willing to fail? Learn the two sides of failure and how you can be better for it! Episode at a glance: Be bold versus reckless Be willing to lose money, time and people Put systems in place to avoid failure moving forward Don’t blame othe...

Jul 06, 202243 min

Ep.222: Physical Therapy Practice Stories to Learn From

Today, it’s story time! Over Brian’s 30 years of experience as both a treating therapist and private practice coach, he’s come across a number of situations that he’s learned and grown from. And now we pass them along to you! Dive in and learn how to improve these areas of your physical therapy private practice. Episode at a glance: Businesses need to reinvent themselves after the 10-year mark Ditch the DIY attitude You can’t buy patients Enhance your patient care experience Bill every day by 2p...

Jun 29, 202241 min

Ep.221: What Physical Therapists Must Know to Thrive in Today’s Economy

Believe it or not, there is actually something that we can do as PT’s about the current state of things. This is for you, the practice owner or the staff therapist, about how you can protect yourself in business today. Learn how to take the reins and thrive in physical therapy private practice despite a challenging economy. Episode at a glance: You cannot “cut” your way to prosperity Avoid exchanging time for money Get 3 income verticals to diversify your services Leverage other people’s money B...

Jun 22, 202241 min

Ep.220: Innovation in Spinal Rehab with Dr. Guyer

Today, Brian shares his success story with his back procedure and interviews the physician behind it, Dr. Guyer! Dr. Guyer is one of the principal surgeons at the Texas Back Institute . Have you had patients with similar spinal problems? You’ll definitely want to know about this technology! Episode at a glance: Learn about this hidden gem! Listen to your patients! Education is power Lean into innovation Learn more about how we can get you to the top 10% in physical therapy private practice...

Jun 15, 202242 min

Ep.219: The Power of Peds (Pediatric Clinics!) with Laura Loman, DPT

This week we invite a special guest, our very own Laura Loman, DPT to join us for a discussion on Pediatrics! Have you considered incorporating Peds into your practice? Or making it your niche specialty? Learn how to broaden your services to include the whole family in your community. Episode at a glance: Get more lifetime value of patient Incorporate cash-based services Obtain stable reimbursement You need the correct Policies & Procedures You can be the best at both! Learn more about how w...

Jun 08, 202246 min

Ep.218: PTs Helping PTs - Interview with Quinn from PT United

Quinn Worden is the Founder & CEO of PT United , a company providing supply chain solutions and software for physical therapists. Explore this automation to out-create yesterday and be able to focus more on your hat as an entrepreneur. Learn how to prioritize your patients’ experience, lower your costs, and save time in this episode. Episode at a glance: The right product at the right time = best patient outcome Deliver the most value Helps you manage your weekly/monthly operations Collabora...

Jun 01, 202240 min

Ep.217: WebPT's Ascend 2022 Recap with Brian & Rachel

We had a fantastic time at WebPT’s Ascend 2022 Conference in Charlotte, NC! Between our full-length presentation and two round-table “Exchanges”, plus absorbing the great information from others’ sessions, we feel we got a true finger on the pulse of the top challenges, solutions and focuses of physical therapy owners across the country. This is our recap of the event! Episode at a glance: Ascend (like PPS & CSM) is an absolute MUST for practice owners The “Intrapreneur” VS Entrepreneur was ...

May 25, 202224 min

Ep.216: Success Story: Practice Empowerment Through Technology Differentiators

Today we welcome guests Ellen Tomsic, PT and Jason Waz, PT to discuss how to reclaim your power in private practice through the use of innovative technology. We know it can be difficult to break from the comfort of how you’ve always done things, but sometimes positive change requires a leap of faith! Don’t let yourself get taken advantage of - apply these tips to soar in private practice. Episode at a glance: Know your cost per visit Add to the value of your therapy Dropping insurance does not n...

May 18, 202254 min

Ep.215: How to Achieve Practice Freedom Through Financial Stability Plus Time Flexibility

Are you blissfully discontent? We’ve been hearing from owners all around the country recently about what is most important to them. Wherever you are in your physical therapy career, you can achieve freedom through the combination of financial stability and time flexibility. Learn how in this episode! Episode at a glance: Do you have lack of Standard Operating Procedures (SOP’s)? Map out your Ideal Scene Cut what isn’t advancing you Commit to time management Delegate to your management team Learn...

May 11, 202238 min

Ep.214: The Interview Process is a Discussion, Not a Negotiation

We are on the tip of a new paradigm in physical therapy practice management. If the top 10% of practices are doing it, we’re training on it, and you can be doing it too. One of the things they are doing is surrounding themselves with the best and the brightest people. Spoiler alert: it’s all about the mindset! Episode at a glance: Apply the two-way street concept The interview is not a negotiation Take pride in your employees’ happiness Help prepare them for their resignation Meet with staff on ...

May 04, 202223 min

Ep. 213: The Myth of Work-Life Balance

We hear challenges every day from owners all around the country. One of these major challenges are recruiting & hiring. Give this episode a listen to learn how to keep your eyes open for red flags and put the “work” back into work-life balance as the practice owner. Episode at a glance: Don’t wear others conditions Exchange in abundance If it’s not made, it’s not paid Delegation: stop asking for favors Track stats for individual, metrics for company Streamline your staff Learn more about how...

Apr 27, 202235 min

Ep.212: More On the Hybrid Private Practice Model

If you’ve heard about this model before, we’ve worked to continually try to refine it for you. Definition of the Hybrid Model: a clinical practice that uses a hybrid of the traditional insurance model and the cash-based practice model. You can do both! Learn how to create the greatest level of exchange that you can with every patient. Episode at a glance: Add differentiators in your clinic Minimize your admin costs Maintain your personal integrity Learn the two ways to incorporate your business ...

Apr 20, 202231 min

Ep.211: How to Survive and Thrive in a Tough Market

This one goes out to those hard working therapists who are making it happen in the tougher markets in our country! What systems of operations or strategies can you employ to thrive in a tough market? Tune in for helpful tips on mindset and organization that will bring you success in any market. Episode at a glance: Rethink your executive schedule Evaluate your purpose Know the product of every company division Sacrifice smaller things for bigger gains Surround yourself with people who complement...

Apr 13, 202235 min

Ep.210: Are Your Physical Therapy Staff Like My Chickens? Let Me Explain…

Hear us out! You want to identify your personnel’s culture, ideal scene, and expectations. Most people won’t be super welcoming of change and inconsistency (just like chickens!) Don’t start actions and not complete them - embrace consistency and transparent communication. Learn how to find a healthy balance between routine and adaptability. Episode at a glance: Cultivate a shared reality Educate your staff Be reliable Follow through on your intentions Make your expectations known Don’t delay you...

Apr 06, 202227 min

Ep.209: Talking Tech with Vikram from PT Wired

This week we had Vikram Sethuraman, the CEO & Founder of PT Wired, back for another interview! We love how Vikram has brought entrepreneurship and technology advancements to the profession by helping bridge the gap from patients to physical therapists. These are the successful actions that you need to be exploring in 2022. Learn how to take full control of your patients’ journey in this episode! Episode at a glance: Help patients make real behavioral change Extend your patient care outside o...

Mar 30, 202234 min

Ep.208: Key Metrics and Physical Therapy Practice Solutions

Entrepreneurs crave three major things in their careers: flexibility, freedom and stability. What is your vision and ideal scene? Let’s get down to the metrics and successful actions that will allow you to achieve your career goals in physical therapy private practice. Now is the time! Episode at a glance: Rent must be 10% (or less) of GI per year Bring in 10% of your annual revenue through cash Get total payroll down to 50% of GI Pay-for-performance model > Shared-Risk model Establish a mana...

Mar 23, 202233 min

Ep.207: Best Practices for Start-Up Clinic Owners and Beyond

The #1 issue we run into in physical therapy private practice is personnel management. You want a fix for these core issues, not just a band aid for the symptoms. Let’s discuss things to avoid and must-haves for success in private practice - whether you’re a startup clinic, or beyond! Episode at a glance: You can be profitable within first 3-6 months #1 issue is personnel management You need a proper company structure Make a schedule and stick to it Learn more about how we can get you to the top...

Mar 16, 202249 min

Ep.206: Are Your Clinic Standards Too Low?

Physical therapists are thriving! People are in need of our services now more than ever. As a practice owner you now have greater responsibility, and therefore need more accountability. Let’s break down the categories of Personnel, Profits, and Quality to gauge how to set your standards in private practice. Episode at a glance: Don’t make concessions Set expectations with the Status Sheet Evaluate clinical efficiency Hold yourself accountable to your management action plan (MAP) Over 60% of eval...

Mar 09, 202236 min

Ep.205: Why Choose the Pay-for-Performance Practice Model?

This is a hot topic for sure. Evolved out of the previous Shared Risk Model, we built the Pay-for-performance model to enable owners, staff and patients to all win. Ditch the old models of yesteryear and reach out to learn more about a compensation model that balances quality, productivity and clinical efficiency in your practice! Episode at a glance: Measure quality, productivity and clinical efficiency PTs do not bill! Exchange in abundance Track the metrics Get your payroll proportionate to p...

Mar 02, 202230 min

Ep. 204: Making a Splash in Private Practice with Steve Rapposelli, PT.

Let’s be honest, it’s time for physical therapy to evolve. Reimbursement is not going up. You have to think like your patients in order to advance to the top 10%. Dive into a fun discussion with Steve Rapposelli - successful practice owner, President of Sport Pump and CEO of Stretchplex - to learn his innovative method of diversifying your cash-based income verticals. Episode at a glance: Listen to your patients Find a need, and fill it You need 3 income verticals Increase lifetime value Build l...

Feb 23, 202243 min

Ep.203: The Two-Way Street of Exchange

This is a concept that we often lecture on as it should be a critical part of your onboarding process. Let’s take a detailed look at exactly what level of “exchange” is expected from a salaried employee for the pay and benefits that they receive. Join the top 10% of practices by measuring efficiency and helping as many people in your community as possible. Episode at a glance: There has never been a better time to start up Keep your own counsel Invest time and money in yourself Teach people how ...

Feb 16, 202242 min
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