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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You Don’t Know…What You Don’t Know…

Any owner will tell you “you don’t know what you don’t measure.” Effective metrics are essential for achieving positive results and mis-measurement can lead to mismanagement. Metrics tried and proven over years become a guide to what’s important to your clinic’s growth. Know your metrics and what they drive Ownership and all employees should understand which metrics…

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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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Three Simple Things To Keep The Patients In The Door

Your marketing is working, new patients are calling and scheduling, but you don’t see a growth in patient visits.  What the heck is going on?  With your metrics programs in place you see the referrals and new patients are matching up, but you notice the average visits per an evaluation are dropping.  What could be…

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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 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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What is Your Practice Score?

Running a successful physical therapy practice is more than just quality patient care.  When you walk up to your friend who is watching a game, the first question you ask them is “What’s the score?”  My question to you is: “Do you know your practice score?” Most physical therapy owners suffer from a practice that…

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