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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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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Cause & Effect

You are a physical therapist by training and now a business owner by desire.  Building and running your business is not just knowing your numbers. It is about knowing what those numbers mean and how you make those numbers happen!  When you budget and forecast you are setting objectives, and achieving these objectives are your…

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Four Resolutions That Should Last All Year

We are two weeks in to 2017, at this point in time more than one-third of those who “set” New Year’s resolutions have stopped them.  The new year is time for a refreshing new start for you and your business.  To help you succeed in 2017 and beyond I wanted to give you 4 easy-to-implement…

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Trimming Practice Expenses

Being a physical therapist practice owner isn’t easy. On a daily basis, you must deal with treating patients, ensuring referrals are consistent, taking care of employees, paying the rent and dealing with cash flow just to name a few things. When the “bottom line” gets tight the first thing we think about is cutting costs, but is…

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Why Isn’t Your Practice Growing Like You Thought?

Have you noticed over the past year or two your clinic has not grown? You look around the office and the clinicians are busy but you haven’t seen that increase you had expected.  You feel it by looking at the clinic schedule and you feel it by looking at your bank account. I can confidently tell you…

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Buried Treasure In Your Practice

Recently, I had an initial call with a client. Usually on the initial call we discuss the importance of measuring and we also discuss specific numbers we want to measure in the practice.  These numbers have come about after years of not tracking and not growing. Once I realized what I didn’t know, I reached out to…

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Three Reasons You Must Set A Budget

Small business owners often experience financial tensions, increased competition, and unstable revenues. To remain successful, small business owners must control spending and be cognizant with their accounts receivable. Successful business owners recognize the importance of creating, and using, and annual budget yet most business owners don’t create a budget and struggle. These business owners don’t create…

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What Type Of Employees Are On Your Team?

All practice owners have one similar goal…to have a successful practice. One of the easiest ways to achieve this success is by utilizing your greatest assets, your employees. Having the right people on your bus, in the right seats, can lead to a HUGE win or a dreaded loss in YOUR business. To be successful you, the…

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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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