2023 Year in Review: MEG’s Top Physical Therapy Industry Trends

As we close out 2023, a year marked by resilience, innovation, and, yes, maybe a few unexpected twists, we at MEG Business are filled with nothing but anticipation for what’s to come. 

But before we charge headfirst into the New Year, let’s take a moment to savor the lessons learned, the challenges overcome and the insights that fueled our collective progress. We’re revisiting the content and industry trends that resonated most with our readers this past year. 

>> Get the #1 Most Downloaded Guide This Year! Outsourcing Guide for PT Practice Owners

Trend #1: AI, Virtual Outsourcing & PT Technology

The future of PT is here, and it’s powered by robots (sort of)! Don’t worry, they’re not coming for your patients’ neck stretches. But smart AI & virtual tools can help you handle scheduling and billing. 

Virtual assistants have been a growing theme of 2023, and with MEG’s launch of Virtual Front Desk, many clinic owners are getting rid of hard-to-fill admin positions. Outsourcing has proven to be every clinic owner’s secret weapon, allowing you and your team to spend more time and energy on building patient relationships.

The latest PT technology is also changing the way many clinic owners approach treatment. With devices such as the NEUBIE and HRV monitoring, you can improve your patient plan of care, freeing clinicians to focus on what they do best – individualized treatments. 

Check out these MEG podcasts and blogs for more on navigating the exciting world of AI, outsourcing and PT technology:

Trend #2: Employee Hiring & Retention:

The PT staffing shortage is real, but it doesn’t have to feel like a constant uphill battle. Forget the days of endlessly posting on job boards. MEG has the secrets to attracting top talent who are passionate about making a difference. Discover recruitment strategies that go beyond resumes and salary, focusing on building a positive, supportive and growth-oriented clinic culture. 

Plus, learn how to keep your star clinicians happy with creative incentive programs and career development opportunities. Here are MEG’s top picks for developing your dream team that stays, thrives and makes your practice the envy of the PT world:

Trend #3: Hybrid PT Business Model

Gone are the days of one-size-fits-all billing. Today’s savvy PT clinics are embracing a hybrid model, offering both in-network and cash-based services. 

This win-win approach expands your patient base, boosts your revenue and gives patients the flexibility they crave. But navigating the insurance maze and setting competitive cash prices can be tricky. 

Let MEG be your guide! Here are a few ways to maximize the hybrid model to grow your income while you stay patient-centered:

Trend #4: Planning Ahead for Tight Times & Decreased Reimbursements

One of the reasons many clinic owners are adopting more cash-based payments is because of uncertainty within the healthcare landscape, especially when reimbursements are tightening. But fear not, savvy clinic owners! MEG is here with some actionable strategies to help you navigate this shifting landscape. 

From negotiating better contracts to sharpening your billing processes, MEG has the blueprint you need to adapt, thrive, and even come out ahead in the face of decreased reimbursements:

Trend #5: Differentiating Your PT Clinic

In a crowded field of physical therapy clinics, how do you make your practice stand out? 

The answer lies in crafting a unique identity that resonates with your target audience. MEG unveils the secrets to powerful branding, strategic marketing and patient-centric care that sets you apart from the competition. Discover how to tell your story in a compelling way and leverage your clinic services to reach new patients and cultivate a loyal following through exceptional service:

Trend #6: Becoming a Leader Within Your PT Practice

Leadership isn’t just about wearing a fancy title. It’s about inspiring, motivating and empowering your team to reach their full potential. We built MEG Academy to help you step into your leadership role with confidence, providing practical tools and strategies to build a positive and productive clinic culture. 

Learn some of the secretes we teach within MEG Academy to become the leader your team needs:

Schedule a Free Practice Assessment with MEG Business to Accelerate Your Practice in 2024!

As we turn the page on 2023, the future of PT is a mixed bag of promise and uncertainty. Despite all of the innovative PT technology and outsourcing efforts, many clinics are still facing challenges with the medical system. If you want to position your practice for success in spite of these healthcare obstacles, MEG can act as your trusted wingman.

Curious about how your clinic stacks up against the hottest trends? Wondering how to turn those trends into tangible results? 

We’re here to help! Take advantage of our complimentary practice assessment and let our experts analyze your operations, identify your unique strengths and challenges and tailor a roadmap for success in 2024.

Free Private Practice Assessment from MEG

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