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 there are three pillars that must be in place: pillar number one is people, pillar number two is strategy, and pillar number three is cash.  To grow from a staff of one PT to two PT or from one clinic to two clinics there must be cash.  Cash is derived from profits!

In this day of decreasing reimbursements cash is becoming more difficult to find, but when you focus on the key drivers, cash is more prevalent.  The number one key driver to any thriving physical therapy practice is new patients with the second key driver being visits.

Once you have secured a steady flow of new patients the next course of action is to ensure these patients are being treated for the entire plan of care and the staff is billing appropriately for the care being provided.  All too often not enough time is spent training and teaching the clinical staff the proper ways to bill a patient visit.  Every time a visit is mis-billed it results in lost revenue and ultimately lost profit to the business.

Are you struggling to understand your key drivers?  Knowing these are invaluable to the growth of your business! Contact us here for a FREE consultation call!

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Andrew Vertson, PT, DPT, ATC
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