How Are You Going To Stand Out?
Healthcare in the U.S. is going berzerk right now. Fierce competition has created a situation where therapists need to be recognized as the best–period. There will always be “therapy jobs” but there is less room for average performers to find a promising career path.
With therapy schools are pumping out more graduates year after year, how are you to find and keep a primo therapy job?
I believe the most important skill for therapists to develop will not be clinical, it will not be technological, it’s not economical/business acumen. It will be the ability to manage their own careers.
There has been an unprecedented change in the physical therapy profession. For the first time, a substantial and increasing number of therapists can choose what they want to do with their careers.
Therapists have an almost unlimited number of options of what they want to do with their lives. In addition, the average work life span is now close to sixty years and most therapists will have more than one career during that time.
For many of you, choosing a job will not be solely based upon salary and benefits. You might want a job where you can contribute to the good of not just society but the world.
The good news it’s now up to therapists to choose employment that is meaningful to them.
The bad news is it’s now up to therapists to choose employment that is meaningful to them.
Many therapists are unprepared for the responsibility and uncertainty that self-determination brings.
For those of you just starting a traditional private practice, Scott’s membership website provides all the training and support you need.
Once you sign up for your lifetime access you’ll get Scott’s outstanding private practice video course, downloadable clinic forms and his favorite practice resources and recommendations.
Just as important as the step-by-step guidance on starting and running a profitable private practice is an ongoing support system. The monthly masterminds, Facebook group, and the community forums allow you to interact with other therapists and get answers to your questions.
To learn more about Scott Harmon’s Academy of Private Practice membership website click on this link:
I am offering the DIY version of my Cash Practice From Scratch course free to therapists that sign up for Scott’s membership website. The Cash Practice From Scratch course will guide you step-by-step through the process of validating your practice ideas, building your launch team, setting up your website and business systems, and seeing your first paying client.
Sign up for the Academy of Private Practice and you’ll get the $497 Cash Practice From Scratch DIY course FREE.
I recently caught up with Aaron LeBauer, PT to get the scoop on the launch of his new podcast, The CashPT Lunch Hour Podcast. I’ve been a big fan of Aaron’s and I wanted to get the inside story on his new adventure for my tribe.
Aaron is really excited about The CashPT Lunch Hour Podcast and the potential it has to show other therapists what’s possible in the cash-based practice model. Aaron has been treating patients in a cash practice since 1999 so he knows what he’s talking about. He started his career by owning a massage therapy private practice. He soon figured out that clients are willing to part with their hard-earned cash for what they value.
His entrepreneurial mindset and free spirit allowed him to challenge the naysayers in his life, by starting a cash practice right after PT school. Aaron never looked back and has become a trusted guide for therapists who desire to launch their own cash PT practice.
The CashPT Lunch Hour Podcast is dedicated to empowering and inspiring passionate physical therapists to create, grow and market successful cash-based physical therapy practices. Aaron intends to feature interviews with therapists who have successfully managed a cash-based practice loaded with practical advice and business strategies.
You can learn more about Aaron and his podcast at the podcast page on his website. Below is the summary of our conversation about the podcast and what Aaron is up to now.
Warren Buffet, the ‘Oracle of Omaha”, is a mega celebrity in my home state of Nebraska. His reputation for value investing has reached mythical proportions.
Investopedia stated in a 2015 article that $8,175 invested in Berkshire Hathaway in 1990 was worth more the $165,000 by September 2013 as compared to $42,000 in the S&P 500. Needless to say, his value investment philosophy has made investors in his company a lot of money.
Warren Buffet is known worldwide for being a genius at value investing. Value investors buy securities that are currently undervalued by the market based on their intrinsic worth. Investopedia goes on to say “Buffet chooses stocks solely based on their overall potential as a company…Buffet seeks not capital gains but ownership in quality companies.”
Therapists regardless of their employment situation can learn a lesson or two from Mr. Buffet on value investing. All therapists need to take ownership of their own value regardless of their employment situation. You can do this by understanding patient’s hierarchy of values and a few simple business fundamentals.
Do you want to add a cash business to your practice that can generate enough dependable revenue to unchain you from insurance companies?
Then solve real problems for real people.
Chasing the latest treatments fads you’re not qualified to address will lead to nothing but dead-ends. I’m talking about “businesses” like acupuncture, Pilates, TRX bands or with products you don’t understand or personally care about.
You’ll want to add a cash business that engages your strongest interests and passions. But at the end of the day, that cash business needs to operate in a profitable niche where you’ll be able to help people overcome very specific challenges.
Narrowing your focus and building your knowledge in a specific area of cash practice may seem counterintuitive. But in a competitive marketplace vying for your patient’s attention, it’s the only way to rise above the competition.
Instead of developing a cash business that applies to a variety of patients. Why not be the go-to authority in a smaller slice of cash services pie that has been overlooked?
There is a competitive advantage to being a category authority where your extensive knowledge and expertise helps you get noticed. Getting noticed is half the battle in establishing a cash business at your clinic.
Once you’ve established yourself as an authority in a specific practice niche you can often expand your practice into other patient populations.
How might a company like Uber or Lyft revitalize your patient onboarding experience?
The days are gone when I hailed a cab to get a ride from the airport to my hotel. Now getting a ride is as simple as pulling out your smartphone, tapping a Uber or Lyft app and waiting for your ride to show up.
The experience is much more convenient and enjoyable. While I wait for my driver, I’m entertained by watching little cars drive around on my phone like a video game.The app handles the money exchange, the driver seems to be a regular guy so I normally sit back and strike up a friendly conversation.
I can see how ride-sharing services have rapidly established themselves as an alternative to the traditional paid transportation experience.–driver in control, the rider in the backseat, awkward conversation and payment is through a meter which I never quite trust. They drive, you pay.
I got to wondering what practice owners can learn from the ride-sharing phenomenon and apply it to our patient intake process. Rather than keeping our patient intake process like a cab ride to be endured, how might we reinvent it to be more like a satisfying ride-sharing experience?
Despite years of technological improvements in electronic medical records, most clinics still rely on an obsolete patient onboarding process. Between patients filling out paper forms and staff data entry the whole experience can be an event to be endured.
Worse yet, impersonal patient onboarding can result in patients abandoning care before it really begins. Resulting in a loss of potential impact and revenues.
Therapists are stuck between a rock and a hard place. Participation with insurance companies requires precise patient data to get paid properly. A lot of productive clinic treatment time is consumed by filling out and storing patient information.
KNOW WHAT’S HARD ABOUT GETTING REFERRALS?
Staying connected with loyal patients when you’re so busy taking care of the patient right in front of you!
Most therapists have helped thousands of people and have written meticulous notes in clinical records. But therapists typically do a poor job of staying connected with satisfied clients and managing our networks.
Future referrals and incomes are lost because we don’t maintain strong connections with our most precious resource–our loyal clients.
It’s not like we’re just plain stupid but we’ve never really had to really worry that much about it before. Physicians and networks normally fed us all the referrals we ever needed, sometimes too many. Well times have changed and now therapists must compete like crazy for good quality referrals.
And the truth is most therapists don’t know how!
THESE EXPERTS WILL HELP YOU SOLVE THIS PROBLEM.
I’ve collected the advice of 10 expert therapists on the email strategies they use to build strong connections with their patients and referral sources. Most therapists already have fantastic relationships with our patients. We just need a few tips and tools to turn them into word of mouth referrals.