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 my kids’ mouth.  My tracking was simple…visits, evaluations, cancels every month.

As I started to hire more employees I was still a physical therapist who was working in my business.  I was working more than any other therapist, treating more patients, and making when I broke down the hourly rate I was being aid, it was half of what my other therapists were making.  Something wasn’t right!  My tracking was still simple…visits, evaluations, cancels on a weekly basis.

As I started to see shifts in healthcare, I knew I needed to “keep up with the pack.”  I was still a physical therapist but now was starting to work on the business and less in the practice.  I cut my treating schedule down from 45+ hours a week to 30 hours a week.  I also started looking more at the objective measures of the business.  I started tracking many more aspects of the practice, from referrals to tracking other employees.  What did this do?  It gave me more stability and allowed me to better control people but I still was not truly a business owner.

Over the past few years I have made the transition from physical therapist working in the business to a business owner working on, and building, the business.  I now set goals for the business, for each clinic, and for each employee and I monitor the progress of these goals.  The biggest difference?  I know exactly what the health of my business is.  I know exactly if we, as a company, are on target to achieve our goals…with these goals we have 5x more profit and 5x less headaches.   Since this mindset change, the business has doubles in size.  Doubled the number of locations, the number of employees, and the net profit!

Do you need help putting together the road map for you to go from therapist to true business owner?  Sign up for a FREE Consultation to see how we can help you make the change!

Andrew Vertson, PT, DPT, ATC
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