When What You Measure Is Not Enough

I am often asked what are the top metrics a physical therapy practice owner should measure. The simple answer is always the same one word: Anything!  Since many practice owners do not measure statistics at all, anything they can measure is better than the nothing they have been measuring. Just because you are a good practice owner,…

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Do You Know Your Revenue Cycle?

Revenue Cycle Management is the key word of the month in the private practice world, but does the physical therapy practice owner really know what it means?  I bet most owners know the term but don’t really know what it entails.  Revenue Cycle Management is the term used to define the process of revenue from…

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The Holes In Your Leaky Practice Bucket

If you have ever heard me speak at a live event, there is one slide that always exists in the presentation.  The slide asks of you are an owner working on your business or the owner working in your business.  You, as a private practice owner, need to understand you are not just running a…

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What Does It Cost To Gain A New Patient?

Do you really know the cost of acquisition of those new patients?  The cost of advertising, marketing, promotions, t-shirts…and the list goes on.  Add up all those expenses in a month and divide by the number of new evaluations and you have your number. At the end of the month, or year, those numbers can…

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What Is Your Cost Of Care?

Have you noticed the increasing trend of payers wanting you, as a physical therapy practice owner, to remain in their network at a reduced, often flat, rate for treatment?  I know for me, and my practices, it has happened left and right. Over the past few years I have seen major players (Anthem, Cigna, United HealthCare)…

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What Are Your KPI’s?

I received a great article in my e-mail today with regards to physical therapy metrics; they talked about watching your KPI’s.  I had a great laugh at this, because for a long time I have been preaching about the importance of KPI’s in our weekly metrics! What exactly is a KPI?  Well, simply put, these…

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Do You Stay Awake At Night Worrying About Cash Flow?

Practice owners find it can be a constant struggle to keep a steady cash flow.  This stress can lead to owners waking up in a cold sweat about making their next payroll or rent check.  Inefficient or missing processes, staff issues, and lack of metric insight can tax your clinics health.  Let’s look at a…

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