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.

32:44

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Episode guests

Kristi Plunk

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Episode notes

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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.

Introduction

2min

Evolution of Policy Changes and Business Challenges in a Physical Therapy Clinic

5min

Optimizing Payment Collection in the Medical Field

7min

Efficient Billing, Patient Communication, and Proactive Recruiting Strategies in Healthcare

4min

Efficient Credit Card Management in Physical Therapy Practice

13min

Emphasizing Efficient Payment Processes and Valuing Services in Physical Therapy Clinics

4min

Listen up! In this episode of the Physical Therapy Owners Club podcast, Nathan Shields engages in an invigorating discussion with Kristi Plunk, from Beyond Physical Therapy and Wellness. Discover the game-changing strategy that has put her clinic on the map in Fort Worth, Texas. This transformational technique is highly effective and has proven to be a massive success. Don't miss out on this incredible conversation!

Hear about a game-changing policy that transformed Kristi's clinic, significantly boosting collections and revenue. Kristi's approach tackled challenges such as a surge in cancellation rates and a dramatic loss in revenue due to SEO changes. This led to a remarkable financial turnaround that will leave you in awe. Her journey is a true testament to the power of resilience, smart policy implementation, and the crucial role of clear communication with patients. In this episode, you'll discover how Kristi tackled misconceptions about medical bill payments and navigated the nuances of legal and ethical considerations. Get ready to reshape the way you run your physical therapy clinic with these valuable insights.

Want to talk about how we can help you with your PT business, or have a question you want to ask? Book a call with Nathan - https://calendly.com/ptoclub/discoverycall

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Private Practice Owners Club

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

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Implementing credit card on file policy to improve collections

Benefits of storing credit cards for copays and deductibles

Handling same-day cancellations with credit card charges

Building a comprehensive system for financial policies

Remember Everything You Learn from Podcasts