Ep.129: Concerned About Profitability? Here Are The First Actions You Should Take
Physical Therapy Private Practice: Secrets of the Top 10%
This week we are once again addressing the topic of Compliance rules and regulations, policies & procedures – arguably the weakest area for most PT Owners. Never fear, this stuff isn’t rocket science! More times than not, folks run into trouble innocently and accidentally simply from a lack of knowledge of the regulations. As PTs, we know you want to do the right thing and help people, so learn what you don’t know to avoid inadvertent mistakes.
- It’s what you don’t know that gets you into trouble
- It’s best to have a committee with a Compliance Officer and regular meetings – you need a team approach
- DH: Formalize a process of onboarding. Detail and record this process.
- Your employees need to understand what the standards of practice are
- You cannot force someone to get a Covid test
- Make sure you’re emailing securely
- DH: You can’t just make up your own rules, you are obligated to follow your contract.
- You cannot induce a referral
- LMS (Learning Management System)!
- It’s all about risk management
- It costs far less to take preventative measures versus facing a problem/breach
- Cybersecurity is very important
NEWS AND UPCOMING EVENTS
For more information on Compliance, pre-order our new “Ethics and Compliance Program For Your Private Practice” created in partnership with compliance expert, Daniel Hirsch!
Save 15% if you pre-order the course by August 1, 2020!
Tune in this week (Thurs 7/30) at 1pm EDT for our live Zoom Chat with Nicole Walczack:
“Restructuring Your Business Model to Thrive Post-Pandemic”
Today, let’s talk about how to put in an ounce of prevention to avoid a pound of pain. Again, we did not go to school for this. On this podcast, Brian reminds his audience that Compliance is mandatory and is constantly changing – it is your responsibility to get the correct data and to stay on top of it. Tune in to learn what policies & procedures you need to put into place in order to apply Compliance to protect yourself, your patients, and your practice.
- We are empowered by the freedom of knowledge
- Be a critical thinker
- If you’re a fully compliant Medicare clinic, you’re compliant across the board
- There is a difference between teaching and training
- PT private practice providers are federally required to be implementing a tailor-made Compliance program
- 9/10 of the practice owners we meet are (perhaps unknowingly) Non-compliant
- You need a Compliance policy in place so that you don’t apply different rules to different staff members
- You need to assign someone to dictate these policies (Compliance officer, committee, etc)
- PTs are essential workers, so make sure you get medical clearance before returning to work after travelling
- As of right now, Gmail is not compliant – make sure the service you use is fully encrypted
- For more information on Compliance, pre-order our new “Ethics and Compliance Program For Your Private Practice” created in partnership with compliance expert, Daniel Hirsch!
Save 15% if you pre-order the course by August 1, 2020.
It is interesting to consider the ways that the pandemic has not only altered the way that things operate in our country (and worldwide), but the impact that this has on the public psyche. It is crucial now more than ever that our patients feel safe, protected, and advocated for. On this week’s podcast, Brian shares valuable marketing strategies & tools to maintain effective communication and continued support for your patients in this post-pandemic landscape.
- Marketing: the mechanical aspect of building your brand and reputation which is delivered directly to your public using the most effective means possible
- We must work harder than ever toward flourishing & prospering through our own ingenuity
- Re-establish your ideal scene – you have no shot of arriving at your destination if you don’t know what it looks like
- Create a new logo, add a tagline, and/or find a picture that speaks to who you are as a company
- People have their own Brands!
- Use various means (ex. A blog or vlog) to reinforce to your public the actions that you are taking to keep them safe
- Marketing campaigns should run two months at a time and stay on a consistent theme with the intention of reaching a single audience member at least five times
- Be genuine and supportive
- Publish a 3-min (or less) Video starring a patient to go on your website and social media that is built around the following sequence:
- The patient’s initial fears and considerations upon entering the clinic
- The patient’s real-life experiences in doing so
- The patient’s outcomes/successes with their therapy
** This is not a Testimonial video! This is the story of a real-life experience that your patients can identify with.
This, of course, will be individualized for everyone – but on today’s podcast, Brian reminds his listeners how to be the Go-Getter owner by refocusing their efforts and applying the changes necessary to have their practice emerge even stronger after the events of 2020. He poses both big-picture concepts and specific actionable items for success. Ask yourself: what is your ideal scene? Tune in to learn how to achieve this.
- Ask yourself: what have I done this year to make a difference with my staff both personally and professionally?
- You deserve (and need!) the best Billing on your side
- The need for admin personnel in your office is dwindling in 2020
- Assimilate this information into your thought process – then understand its application
- Surround yourself with people who you want to see win
- This is the time to retool your BRAND
- Reevaluate the individual members of your staff whom you are looking to bring back – bring back the winners!
- Update your Policies & Procedures (P&P Manual)
- Generate 20% of your revenue from cash
- Consider converting to a shared-risk model which is not just focused on income
- You have to find the “cocktail” of Marketing strategies that work for you – different for where you are in the country, etc
- Be self-reliant
- Planning –> programming –> targeting –> MAPPING (Management Action Plan)
We’ll say it again: “it shouldn’t require a policy for us to be doing the right thing.” Yet, in light of what we’re seeing nationwide, we found it necessary to reevaluate how to appropriately handle personnel and practice anti-discrimination in physical therapy. Let’s confront this issue to make a safe space for everyone, and learn how to enforce zero-tolerance for discrimination using firm policies in your practice.
- Jack up your professional ability to confront these issues.
- Everyone should have equal opportunity to reach their goals, both personally and professionally.
- Just because you haven’t personally experienced it, doesn’t mean that it doesn’t exist.
- Create your documented policies on Rocket Lawyer.
- Get these policies in your P&P manual.
- Keep these areas of Compliance in check – training.
- There is no room for hate in our profession or our world.
- 5 Phase Hiring Program
- Have zero tolerance for “bad apple” employees – the thorough hiring process.
- Create an environment for everyone to succeed.
On this week’s podcast, Brian compares his personal mindset pre-pandemic, to how it has shifted today. Conclusion: it’s greatly different in some ways, and the same in others. Tune in for some crucial questions to ask yourself for your staff, patients and practice to decide what strategies would be best for you in your individual circumstance.
- Telehealth is likely “here to stay” – in some magnitude
- When the pandemic is “over” will the HHS stop covering Telehealth for Medicare patients?
- Find the schedule that works for you
- For manual therapy – think outside the box for treating
- NOW IS THE TIME to move to a shared-risk model for your staff
- Clean out the clutter in your clinic! You need more floor space without paying more rent
- Think about how you can give greater value to your patients & staff
- You must bring in an LMS (Learning Management System)
- You need to invest in the power players around you so you can trust them and get out of their way!
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