Episode 106: How to Adapt and Evolve Your Practice in a Time of Crisis

This week, Brian discusses what you can do now to help your patients by taking new actions to keep up with the ever-changing circumstances of PT during Covid-19. He attempts to steer the mentality away from hoarding and cost-cutting, and more towards growth and perseverance in business. You need to “out-create” it by expanding and strengthening your practice. Tune in for tips on how to adapt and evolve your business in response to this crisis, and beyond.

KEY TAKEAWAYS

  • Personal integrity – doing the right thing, even when no one else agrees
  • Now is the best time to change old ways, and even to open a practice!
  • There is more opportunity now than ever
  • Time is yours to control, it’s up to you
  • Good control comes from the combination of knowledge and responsibility
  • Be at Cause, as opposed to at Effect (of the government’s decisions, etc.)
  • You must disconnect emotion from money
  • Now is a great time to invest in training to be a better CEO
  • Once this is all over, DO NOT GO BACK TO TREATING LIKE IT’S 1995
  • You need to restructure to have 3 revenue streams
  • 3 most important things in practice: a) driving new business to your door b) enhancing employee satisfaction c) giving back to your referral sources – Focus on these!
  • Ideal Practice Model components (from executive training*):
    • Out-source your billing (this is a clerical job – there’s no reason you should be doing it)
    • Land a market differentiator such as with advanced, innovative technologies (Ex. Telehealth, Neubie)
    • Invest in mastering digital social media marketing
    • Master rapport by forming golden relationships with your patients, medical professionals, allied health professionals, community business leaders/organizations, charitable organizations, and local media outlets
    • Providing cash-based services to hit the target of 20% per year in cash out of total GI (Ex. nutritionist, dry needling, laser)
    • Better manage your personnel through a CDT program

 

*To gain a more detailed understanding of each of these key elements and how to utilize them as a soft reset for your practice (or how to take advantage of this ideal time to open up your office):

**Join us on ZOOM live chat session on Wednesday the 25th, at 7pm EST @ https://zoom.us/j/119549213

***Links Brian mentioned:

In the meantime, if you have any questions about how to manage your practice during this pandemic, please reach out to us. We’re here to help give you the information you need to effectively manage your personnel and your business during this time of crisis.

Click the image below to access our Covid-19 Resource page:

COVID 19 resources PT owners

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