2017 Year End Planning

As we make the final turn for the 2017 year (there are only 46 days left as of today), now is the best time to look forward to 2018.  To ensure you have a strong 2018, it is crucial to forecast the year and set the strategies in to action now for success.  Follow these…

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Money Makes the World Go Round

“Money”, the first line the song “Money” is “money makes the world go round.”  How true is that statement? The sad fact is many practice owners don’t heed that message.  The key to money is specifically tracking and managing to make the money go round. Here are three simple measures to help understand where your…

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A Successful Practice Owner

Some of the physical therapy practices I work with are a mess.  The owner focuses on treating patients and the “fire” that needs to be put out today. The practice meanders along and the “fires” become more common and much larger.  When the owner is too busy working in the practice, many areas of the…

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Why you need more education

Think about this for a second…todays physical therapist spent four years in college working toward an undergrad degree and then another 3 years working on their physical therapy degree.  At the end of all that education how good a physical therapist are they?  Yes, they can have a positive effect on their patients but they…

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Evolution of Tracking: Are you a Therapist or a Business Owner?

In the beginning, I was a physical therapist who owned a practice.  I was the aide, marketer, reception, and janitor…the only reason I tracked any numbers was to show growth from month to month.  My business was my salary and what I made from the business went to pay my bills and put food in…

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What are your net revenues?

Net revenue…to many business owners this is a phrase reserved for a corporate board room.  To the astute physical therapy practice owner this phrase helps define the key driver of their business: profit.  Today I will share four revenue numbers that every smart business owner tracks on their road to success. Net Revenue Per Month…

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What is a KPI?

In my business, I am a huge fan of using KPI’s with regards to how the practice, and specific employees, are operating.  When I talk about KPI’s I can tell, usually by the looks on people’s faces, that many don’t know (and understand) what a KPI is.  In fact, this became a trending link on…

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“3” Things That Every Successful PT Business Owner is Measuring – Sometimes Daily!

“This scares me!” Those were the words out of my clients mouth after we finished fine tuning their budget spreadsheet.  I then asked what was scary, and the response was “the big number!”  My initial thought was that number means success!  I then took a few moments and broke it down to three simple metrics…

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Metrics: “3” Things That Every Successful PT Business Owner is Measuring – Sometimes Daily!

Successful business owners have one key habit in common, they stat!  What does “stat” mean? Simple, successful business owners collect the key data for the business and make strategic decisions based on that data. Your clinics stats are a measure of the health of your business, telling you how your business is successful or failing. …

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It’s more than just a number…

Remember back in Physical Therapy school how difficult it was to develop your first treatment plan? With practice, and many new patients, you developed the skillset and systems to evaluate and treat those patients accordingly.  Like these patient care processes, getting the outcomes you want from your business requires a data driven treatment plan. First…

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