Episode 100: What is the Biggest Struggle of Physical Therapy Owners Today

In this week’s episode, we’re focusing on the pinnacle of what every practice owner needs to know in order to run a successful practice, and it’s not what you think. Yes, we all struggle with the rules and regulations required to be compliant in this heavily regulated environment. But honestly, those elements can be taught and mastered and will remain quite fixed moving forward.  However, the office personnel that you are trying to manage is another story entirely. Depending upon what phase in private practice you are in will dictate the order you need to address these issues. So, in this 100th episode, we’re giving you a better understanding of these common struggles and what you can do about them. 

KEY TAKEAWAYS

  • Good leadership starts with being a good listener. People don’t leave practices, they leave managers because they haven’t connected or feel that you’re disinterested.
  • You bet on yourself when you opened your practice so that you could be more successful in your profession. But no one except you can tell you what that success if for YOU.
  • Depending on what phase of practice ownership you’re in will determine what you have to address in your practice to move forward and achieve your goals.
  • Start up owners struggle with three major areas: onboarding and managing personnel, basics of marketing, billing and credentialing.
  • If you don’t properly onboard staff, they will not be invested in you to not just up and leave.
  • Roughly 45 visits per week is break even – set a target of 60 visits per week. You need a marketing team who can drive 12-15% new patients each week.
  • If you are a family private practice (1-3 offices), your challenges are personnel onboarding and professional enhancement,
  • There is a way to do an interview with the five-phase hiring system that will help you close the right candidate 80% of the time.
  • Manage your staff through good discipline and a solid policy and procedures manual.
  • Use a status sheet and onboarding checklists so you don’t get run over by your staff. Own what you built and be accountable to your staff and hold them accountable to you.
  • As these family private practices grow, they often lack structure.
  • You have to learn the difference between reacting and responding and how to be calm but assertive.
  • The three most common challenges of multi-site owners are consistency, lack of company culture and high morale, and staff retention.
  • Production is the basis for high morale – make it a busy clinic.
  • If you treat your staff as a number, that’s what you’re going to get.

Thank you for listening, we are grateful for listening and for trying to better yourself and the entire Physical Therapy Profession. Contact us directly to schedule a free practice assessment so you can get your practice analysis from a coach, and what YOU can do about it.

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