Will Power
Balancing Care and Business in Therapy Practices with Irene & Steven Gordon
Jan 21, 2025
Join Steven Gordon, an experienced practitioner and multi-location private practice owner in New Hampshire, as he discusses the balancing act of care and business in therapy practices. The conversation tackles the challenges of declining reimbursements and the undervaluation of assistants. Discover the potential transformation of physical therapy through holistic techniques and the integration of technology. Steven emphasizes the importance of empowering therapists and fostering a supportive culture to enhance patient experiences and navigate modern healthcare complexities.
39:41
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Quick takeaways
- Advocating for the value of physical therapist assistants is essential to counteract their devaluation and ensure fair compensation in therapy practices.
- Embracing virtual assistants and fostering a collaborative culture can enhance operational efficiency and improve patient care in evolving healthcare settings.
Deep dives
Challenges in Private Practice Ownership
Private practice owners face significant challenges, particularly with decreasing reimbursements and difficulties in hiring qualified staff. The contrast between outpatient physical therapy reimbursements and those in hospitals can result in financial strain, as hospitals receive significantly higher reimbursements. Additionally, the rising cost of patient copays poses a barrier for patients seeking physical therapy, making it hard to sustain a practice. These issues prompt owners to navigate a landscape where they must consider both the financial viability of their practices and the ability to attract qualified professionals amidst these challenges.
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