The Cash-Based Practice Podcast - podcast cover

The Cash-Based Practice Podcast

Jarod Carterdrjarodcarter.com
Gathering input from many successful cash-based practice owners, this podcast covers all components of starting or transitioning into the out-of-network/private-pay business model for your private practice. Though the host, Jarod Carter PT, DPT, MTC, and many interviewees are physical therapists, this information is applicable to most healthcare, fitness, and wellness-related businesses looking to decrease reliance on 3rd party payors, and increase cash-based revenue streams. We cover a huge number of topics including: practice transition strategies, 3rd party payor contract legalities, Medicare rules and legalities in the cash-based model, referral source diversification, online marketing, word-of-mouth marketing, optimal website design, blogging, Youtube and video marketing, networking skills and strategies, the vital cash-based mindset, phone conversations and conversions, scheduling, discharge marketing, administrative training, low overhead systems and automation, private-pay wellness/fitness/prevention programs, and everything else that involves the self-pay practice model, how it differs from the traditional insurance-based model, and what you need to do to be successful with this low-stress, rewarding type of private practice.
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Episodes

CBP 153: Making a personal passion pay off in a profitable practice—with Chris Johnson

After finishing PT school, Chris Johnson spent a decade working as a therapist for a New York hospital in their cutting-edge sports medicine program. During that time, he also made house calls on the side and discovered he could earn as much or more money as he did at his “regular” job—but with about 10% as much work. He eventually felt he could only reach his full potential as a therapist by going out on his own, which was daunting because of the costs associated with opening a practice in New ...

Feb 25, 202159 min

CBP 152: The key traits of a successful cash-practice entrepreneur

I’m often asked what is the key to success as an entrepreneur. Based on what I’ve observed in my own businesses as well as the many other practice owners I’ve coached in my Mastermind group, the main factor governing your results is always the perspective you apply as you begin. By mastering the right mindset, you can create a fulfilling opportunity to serve your patients instead of turning yourself into a stressed-out workaholic. In this week’s episode, I explain my own entrepreneurial backgrou...

Feb 18, 202117 min

CBP 150: How to improve the conversion rate for initial phone calls in a cash-based practice

Are you struggling to turn initial phone calls into cash-paying customers? Do you cringe when a prospective patient asks if you take their insurance? Then you won’t want to miss this week’s podcast episode, where I share tried-and-true techniques for improving the initial phone call conversion rate for your cash-based practice. You’ll hear relevant marketing tips and actionable strategies for managing those first customer conversations, improving your value proposition, and shifting your perspec...

Feb 04, 202123 min

CBP 149: Integrative pain care techniques - Results people will go OON for—with Joe Tatta

This week’s podcast guest is an integrative pain care specialist who had a 15-location private practice that was primarily cash-based... In New York City! The real estate costs of something like that alone make my eyes glaze over, but the fact that he and his business partners did it with very little insurance involvement takes it to a whole other level. Joe Tatta began his career as a traditional physical therapist 25 years ago. His first job was at a costly NYC in-patient rehab facility that f...

Jan 28, 20211 hr 7 min

CBP 148: Plugging Profit Leaks Throughout the Patient Lifecycle

In this episode, I explain how you can find opportunities for your practice throughout the patient lifecycle. This topic is critical because helping your existing patients fully heal their injuries and reach their goals is one of the easiest ways to improve your practice revenues. You’ll hear specific tips for how to find and plug profit leaks that are costing your business money, including strategies for minimizing drop-offs from the schedule. USEFUL INFORMATION: Check out our Cash-Based Practi...

Jan 21, 202111 min

CBP 147: 2020 Year in Review and How to Recession-Proof Your Practice in 2021

Welcome to 2021! This past year exposed a lot of the vulnerabilities in our businesses, but fortunately, many practices were able to mitigate the potential threats and weaknesses they faced. And some not only survived—they thrived! For my own cash-based practice in Austin , when it became apparent that gaining new customers would be far more difficult than usual, I focused more on optimizing the POC value of all current AND past clients as possible. And this strategy, along with many others, wor...

Jan 14, 20211 hr 4 min

CBP 146: How to build online communities that generate conversions—with Jessica Campos

Jessica Campos is a brand-building consultant who has cracked the code on leveraging online communities to advertise your business. Her proven strategies for building a network of potential customers who trust you and your brand can lead directly to increased revenue for your practice. In this podcast, you’ll hear techniques for creating vibrant communities and how that can increase the impact of your advertising spend on Facebook. By applying her unique approach, you can build your own online c...

Dec 17, 202046 min

CBP 145: Key performance indicators to track for a cash-based practice

In this episode, I explain the various key performance indicators (KPIs) that I suggest a cash-based practice owner should be focusing on. I’ll cover exactly which metrics are important to understand for each area of business as well as for practices at different developmental stages. You’ll also hear how to put all that data to use to improve your decision making. This “highlight” is taken from Q&A calls with my Mastermind Gold group —a highly interactive, supportive group where people who ...

Dec 10, 202010 min

CBP 144: Cash-Based Physical Therapy for a Yoga Niche—with Jaimie Perkunas

After Jaimie Perkunas graduated from PT school, she took a job in an outpatient clinic. She gradually began adding some yoga elements into that traditional setting, and found it both effective for patients and interesting for her personally. Eventually, with lots of encouragement from her husband, she decided to open a side-hustle, home-based practice that officially combined yoga and physical therapy. After a year or two juggling both jobs, she was ready to quit her per diem work and focus on h...

Dec 03, 202057 min

CBP 143: Is your mindset helping or hindering your cash-based practice?

In this episode, I delve into a topic that I think is absolutely critical to any successful cash-based practice, and that is your mindset. After working with hundreds of practice owners through the years, I have yet to find any who are able to create the practice of their dreams without the proper mindset. It’s a super fast listen that can help anyone who’s interested in running a practice to identify some of the subconscious blocks that can hold you back. You’ll also hear me mention the importa...

Nov 19, 20209 min

CBP 142: Escaping Insurance Insanity through a Direct Primary Care Practice—with Dr. Michael Kim

After medical school, Dr. Michael Kim worked for years in various conventional healthcare settings that made him worry about the growing negative influence insurance was having on patient care. As he became more disillusioned over time, he began looking for alternatives, which led him to the idea of direct primary care. After much investigation, he concluded the DPC practice model was a far more-satisfying way to practice medicine—providing financial sustainability and a positive work/life balan...

Nov 12, 202057 min

CBP 141: How to find the right candidates for your cash-based practice

In this episode, I coach Jim Heafner on how to best manage the growth of his young cash-based practice as he approaches the moment when he’ll need to add his first PT. We discuss some of the fundamentals of hiring, including how to find great candidates and how you can structure a position to best meet the needs of your practice. You’ll also hear some specific techniques for making the whole process of hiring easier and more efficient. This “highlight” is from a full episode on growing a practic...

Oct 29, 202020 min

CBP 140: How to use an email newsletter to bring in new cash-pay business for your practice

In this episode, I discuss strategies to inexpensively market your cash-based practice using an emailed newsletter. You’ll hear how to decide what sort of messages your target audience will want to read, how to structure the content and produce it easily, and how to make sure your messages actually get received and read. This “highlight” is taken from Q&A calls with my Mastermind Gold group —a highly interactive, supportive group where people who have tons of questions and concerns about how...

Oct 22, 202019 min

CBP 139: A marketing magician’s tricks to turn prospects into patients—with Dave Dee

I am so freakin excited about this episode and this guest … I have been on this guy’s email list for over 2 years now, and he emails me every day! Yes, you read that correctly … not only have I not unsubscribed, but I genuinely look forward to his daily email. And over time, I’ve spent a pretty penny on his courses so that I can become a better marketer myself.Since he was a child, Dave Dee wanted to be a magician. But he grew up and settled for work in “practical” jobs, adding in magic shows wh...

Oct 15, 20201 hr 26 min

CBP 138: How to cultivate physician referrals for your cash-based practice

In this podcast , I share some strategies for cultivating your network of referring physicians. I explain how to navigate the initial conversation, including discussing your billing arrangements, how to establish rapport, and things you can do to increase the chances that any referrals you receive will convert. You’ll also hear some clever followup techniques that create ongoing touchpoints that will help establish you as a valued resource. This “highlight” is taken from Q&A calls with my Ma...

Oct 08, 202017 min

CBP 137: How to set up your cash-based practice for exceptional growth—Gene Shirokobrod

This highlights episode features a conversation I had with Gene Shirokobrod of UpDoc Media about how to position your practice for growth from the very start. We talk about the mindset, planning, and specific strategies that lay the groundwork that enables you to scale up your practice so it includes multiple clinicians and/or multiple locations. We discuss how to plan, hire, and manage with that future growth in mind so you can successfully scale up your practice when you’re ready—and build the...

Oct 01, 202023 min

CBP 136: Escaping a Broken System through Cash-Based Functional Medicine—with Dr. Morgan Camp

After Dr. Morgan Camp finished his Medical residency, he accepted a position in a successful, cash-based functional medicine clinic where he got to work alongside experts in the field. He found early success and soon decided to open his own concierge medical practice which attracted a good number of high profile clients in the Bay Area. He built his practice over time with low risk by moonlighting in ER and urgent care as he grew his patient base. For a variety of reasons we discuss in this epis...

Sep 24, 202053 min

CBP 135: Compensation strategies that grow a winning cash-based practice team

As business around the country begins returning to normal, many practices are looking to hire new staff. With that in mind, this week’s podcast is focused on how to structure a position and compensation package so you can attract the right sort of candidate. I explain the legal, psychological, and strategic factors to consider in order to make sure your next hire is a good one! This “highlight” is from a Q&A call with my Mastermind Gold group —a highly interactive, supportive group where peo...

Sep 17, 202020 min

CBP 134: The keys to patient-producing webinars for private practice—with Jordan Mather

Earlier this year, Jordan Mather and his partner Will Boyd set out to discover why some of their clients' online workshops were generating so much more business than others. When they realized that difference came from my Online Patient Attraction System , they reached out to learn more. This week’s podcast was recorded during a Facebook Live in which Jordan conducted a ‘reverse-interview’ with me to explore what sets apart the webinars that really produce patients from those that simply inform....

Sep 10, 202058 min

CBP 133: How My Cash-Based Practice Actually Thrived in 2020

In this episode, I dig into the specific strategies and marketing tactics that have led some practices—like my own physical therapy practice in Austin —to not only survive the pandemic, but actually thrive. You’ll hear exactly what has worked to keep my own cash-based practice going strong throughout 2020 and my marketing plans for the coming months. You’ll also hear about our Labor Day flash sale, where you can save 20% on all my courses, ebooks, and coaching programs. To take advantage, just v...

Sep 03, 202036 min

CBP 132: Finding Fulfillment and a Fully Booked Schedule in a Cash-Based Practice—with Valerie Schwalbe

During PT school, Valerie Schwalbe discovered she had a passion for pelvic physical therapy. So right after graduation, she started a pelvic health program in an outpatient orthopedic clinic and ran it for 2 years. Over time, she realized her dream of a standalone, dedicated pelvic health clinic where patients could be completely comfortable wasn’t really possible within the insurance-based business model. Valerie began listening to this podcast and joined my Cash-Practice Mastermind group so sh...

Aug 27, 202059 min

CBP 131: How to successfully target a niche with cash-based physical therapy services

In this highlights episode, I explain how you can target a niche to make your practice stand out from the competition. While it may seem counterintuitive to focus on a smaller market, the highly personalized messaging you can create for a niche makes your offer resonate far more than a generic “we fix everything” message ever could. This approach has been a real game changer for many practice owners. I share specific strategies for choosing your niche and reaching out in ways that will help you ...

Aug 20, 202014 min

CBP 130: Killer tech that will make any cash-based practice stand out—with Scott Waddell

Scott Waddell has been building cutting-edge content management systems for more than 20 years. His company, PatientSites , has spent the past decade developing software services and tools to make owning a cash-based practice easier and more profitable. As this year’s pandemic unfolded, PatientSites was among the first to provide vital information, ideas, and support to help practices continue to operate safely so they could stay in business despite the mayhem. During our conversation, Scott sha...

Aug 13, 20201 hr 11 min

CBP 129: How to Get Comfortable with Cost Conversations in a Cash-Based Practice

In this episode , I explain how you can develop a mindset that will allow you to artfully handle cost conversations about your cash-based services. You’ll hear how to shift your perspective and help convince yourself of the substantial value you provide. Believe it or not, in time you’ll come to truly believe your pricing is fair and reasonable—so you can calmly, confidently ask patients to pay for a full plan of care or expensive treatment package. This “highlight” is from a Q&A call with m...

Aug 06, 202011 min

CBP 128: Podcasting for cash-based PT patients and referral sources—with Dr. Karen Litzy

Dr. Karen Litzy hosts of one of the most-popular PT podcasts in the country, with tens of thousands of monthly downloads. She has used her “ Healthy Wealthy and Smart ” podcast to successfully market her cash-based practice to her fellow New Yorkers—and to a worldwide audience as well. In light of the recent surge in telehealth capabilities among my listeners, I’d encourage everyone to consider such creative methods to attract interest from patients outside your local area. In this interview , K...

Jul 23, 202013 min

CBP 127: Unraveling the mysteries of Facebook marketing for a cash-based practice

In this episode , we delve into the world of Facebook marketing for a cash-based practice. The discussion centers around the real-world results from my Austin-based PT clinic and those of some members of my Mastermind Gold group, as we brainstorm on how to enhance the effectiveness and reach of their social media marketing efforts. You’ll learn specific techniques for efficiently generating content that gets the attention of the right people—and tips for making sure it ends up being seen. This “...

Jul 16, 202025 min

CBP 126: The Riches are in the Niches - Cash-Based Physical Therapy in the Golf Niche—with Eric Wallace

After Eric Wallace graduated from PT school, he worked for several years as a staff physical therapist at a hospital-based outpatient clinic. Though he’d never imagined owning a practice, after having kids, he couldn’t bear the thought of coming home from work each day drained and unhappy. He knew he wanted something more, and that led him to begin exploring cash-based PT options—including listening to this podcast! When his family relocated to Appleton, Wisconsin, Eric teamed up with a chiropra...

Jul 09, 20201 hr 4 min

CBP 125: How to improve your email deliverability and get better ROI on email marketing—with Prajanay Paul

In this highlights episode , Prajanay Paul of PatientSites.com explains how you can increase the chances that the emails you send out to market your cash-based practice will actually be seen. With the industry average for email deliverability at around 60-70%, it’s likely a whole lot of your carefully written emails are never seen by anyone. Remember, every message that goes missing is a potential lost sale! So while this is probably not your favorite topic, the tips and tools Paul shares make i...

Jul 02, 202022 min

CBP 124: Simple ways to optimize the patient experience in your cash-based practice—with Jerry Durham

After many successful years in private practice, Jerry Durham has made a business out of helping physical therapy practice owners to improve the client experience from start to finish. Much of this focus (and the resulting client experience strategies) stemmed from a year when he took over a thousand incoming prospective patient phone calls at his practice. And over time, he has identified some common mistakes that virtually every practice makes—mistakes that cost them business and lower the lif...

Jun 25, 20201 hr 34 min

CBP 123: How to start promoting your cash-based private practice on social media

In this podcast , Jarod explains precisely how to get started with social media marketing for your physical therapy practice. He shares strategy, platform recommendations, content ideas, technical details, and some of the tools that can help you manage your posts more easily. It’s a concise tutorial that demystifies the subject for those who haven’t yet made the leap into social media marketing, and it provides some great ideas for those who already have. This “highlight” is from a Q&A call ...

Jun 18, 202020 min
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