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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Key Numbers of your Practice

This is the first week of the new quarter, did you meet all the goals set for the first quarter?  If you are not tracking, and monitoring, the financial dashboards of your business you will have no way to tell! The good news is that you don’t need a dashboard crammed full of number and…

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Cash Is King!

The generation, and management, cash flow is the greatest discipline to be a successful business owner.  Cash flow should be at the forefront of every decision made.  How you generate and how you manage cash will determine your growth and success. Business owners fail to realize the most important thing to do is to generate…

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The Power Of One (%)

Is it possible that a small change (1%) can make a dramatic improvement in your cash flow and more importantly in your profitability?  Making a small change (1%) in price increases, expense decreases, and productivity improvements can have a significant impact on your profit. Having available cash in your business is much like having oxygen…

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How to Overcome the Lack of Time

The single greatest issue small business owners face is the same:  Lack of time.  This lack of time then leads to a lack of implementation.  What is so funny about that is Warren Buffett, Bill Gates, and you all have the same amount of time.  Everyone on earth has 24 hours in a day, how…

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Key Number and Drivers

When you look at your business, there needs to be one key number that defines the success of the business.  When you look at this key number, there are then multiple drivers of that number.  In the physical therapy business, to grow and be successful, the key number is profit. For your practice to grow…

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Four Steps to Change Your Practice…For the Better

For you to succeed as a business, you need to constantly improve and grow. You should always start with looking at your environment to bring about positive change in your practice. Be sure that you are top to bottom compliant with your systems and processes.  You must make sure employees have the space and the…

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