Private Practice Owners Club cover image

Private Practice Owners Club

Maximizing Cash Flow, Increasing Profits, And Eliminating Patient Balances With Kristi Plunk, DPT

Apr 2, 2024
Kristi Plunk, owner of Beyond Physical Therapy and Wellness in Fort Worth, Texas, shares her transformative strategy that boosted collections and revenue at her clinic. Learn how she overcame challenges like a surge in cancellations and revenue loss due to SEO changes. Discover the power of clear communication with patients, reshaping the way you run your physical therapy clinic.
33:22

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • Implementing a credit card on file policy improved collections and revenue, addressing missed payments and cancellation rates effectively.
  • Storing credit cards for copays streamlined billing, enhancing cash flow and patient accountability, contributing to a financially responsible business.

Deep dives

Implementing credit card on file policy to improve collections

By implementing a credit card on file policy at the time of service, the clinic saw significant improvements in collections. This decision stemmed from the realization that missed payments, especially with rising cancellation rates, were impacting the clinic's financial health. The policy led to better revenue due to reduced missed payments and improved front desk efficiency. Despite initial concerns about patient pushback, the vast majority of patients accepted the policy with minimal resistance, highlighting the importance of setting clear guidelines for payment upfront.

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