Measure What Matters in Your Private Practice w/ Travis Robbins, PT
Mar 11, 2024
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Travis Robbins, PT from Next Level PT shares insights on clinic revenue growth. Topics include focusing on essential numbers, increasing profits, and achieving success in practice. Also discussed are ways to motivate staff, track marketing efforts, monitor patient referrals, and improve evaluation attendance. The podcast highlights key metrics for practice improvement and previews an upcoming marketing event in Nashville.
Focus on key metrics like average revenue per visit for financial health.
Engage patients with personalized content to increase investment in care.
Enhance revenue by tracking initial evaluation arrival rates and visit frequency.
Deep dives
Focusing on Revenue Monitoring and Management
Monitoring the financial health of a practice involves key metrics like average revenue per visit and cost per customer acquisition. By tracking revenue generation per full-time equivalent, clinics can optimize efficiency. Implementing bonus structures based on productivity can motivate staff and enhance overall performance.
Enhancing Patient Indoctrination and Engagement
Engaging patients before their initial evaluation through targeted content like videos or blog posts builds rapport and increases patient investment in their care. Personalized communication can help differentiate practices and improve patient education.
Improving Initial Evaluation Arrival Rates
Tracking and increasing initial evaluation arrival rates from 90% to 95% can significantly boost revenue and ensure consistent patient engagement. Implementing follow-up procedures for missed appointments can help address any barriers to attendance.
Optimizing Space Utilization and Visit Frequency
Clinics can enhance space utilization by focusing on key metrics like visits per square foot. Increasing patient visit frequency, especially for consistent care, can lead to better outcomes and patient satisfaction.
Streamlining Revenue Cycle Management and Cost Efficiency
Efficient revenue cycle management, including proper code selection and accounts receivable management, is crucial for financial stability. Managing costs per customer acquisition and ensuring cost-effective practices can drive practice growth and sustainability.
Do you want to increase your clinic revenue in 2024? Then this podcast is for you!
Travis Robbins, PT from Next Level PT will teach you how to...
Focus on the #s that matter
Grow your profit
Finally start winning in your practice
Don't just be a listener -- get involved!
Make sure you sign up for Travis' LIVE event in April 2024, the PT Profit Forum: https://app.physicaltherapybilling.com/april-live-event-page-2766
Even if you can't make it, join his Next Level PT Facebook group. It's where all the profit-minded PTs are hanging out: https://www.facebook.com/groups/NLPTMastermind/
Finally, if you liked the content in this episode, you'll love Travis' new book, Hidden Millions Machine: https://books.physicaltherapybilling.com/freebook?fbclid=IwAR2lrsKYEo4NUJH-cGiAqNMnGEJ7ZHmcdo-jghioodRo7yI3KjwcmvS2WeU
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