Grow Your Practice Podcast

Jason Waz is a physical therapist, private practice owner, and Founder of NeuPTtech. In this episode, Jason shares his journey to financial freedom as a practice owner. He talks about the challenges associated with being a business owner when you have a clinical background, and how he overcame these challenges to scale his practice. One key that led to Jason's success as a practice owner was discovering the Nuebie by Neufit, a device that added signficant cash revenue to his practice. Jason talks about how the Neubie works and what lessons he learned about implementing a cash service like the Neubie in your practice. Tune in to discover Jason's path to financial freedom. Learn strategies to support financial stability in your practice and in your life. SHOW LINKSResource on Section 179 Tax Incentive: https://neupttech.com/blog/section-179-tax-incentive-helps-practice-owners-save-money The NeuPTtech Blog: https://neupttech.com/blogContact Jason at jason@neupttech.comProfitability Under Pressure 13-Week Masterclass: https://bit.ly/3Ob8XG6

Are you a private practice owner struggling to maintain profitability in today's challenging healthcare landscape? In this no-BS episode, Chad shares an essential checklist designed to increase your practice's profitability in 2023 and beyond. Declining reimbursements, rising business costs, and hiring difficulties are pushing practice owners to the brink. Chad reveals a systematic, scientific approach to turn the tide in your favor.Unveiling the Profitability Checklist, Chad walks you through 7 game-changing strategies to ensure your practice thrives:Fill your schedules to unlock hidden revenue potential without increasing expenses.Optimize space utilization by unleashing the true capacity of your practice through strategic hiring.Build a waitlist that creates high demand for your services, giving you options for future growth and success.Diversify your revenue streams by adding lucrative cash pay services, reducing reliance on insurance companies.Attract more of your best-paying patients and prioritize your best payers.Break free from your lowest payers. Unlock hidden profit potential by renegotiating rates with insurance companies.Bonus: Supercharge your efficiency by implementing smart scheduling and billing strategies, leaving no money on the table.Tune in to this eye-opening episode and unlock the secrets to maximizing profits. SHOW NOTESGet your copy of the Ultimate 2023 Profitability Checklist: https://bit.ly/3Ob8HXEAre you ready to transform your practice's financial future? How would you like to secure your practice's success in the ever-changing landscape of private practice physical therapy? Join Profitability Under Pressure: A 13-week masterclass designed to help you fast-track increased profitability. Learn more: https://bit.ly/3Ob8XG6

Chad Madden talks with Kelly Brown about how Prediction Health is harnessing AI to make compliance and documentation easier and more efficient for physical therapists. They talk about how challenging documentation and compliance can be for most therapists. This confusion can result in inefficient processes, compliance risk, and missed opportunities to bill for applicable units. Kelly shared ways that AI is making documentation easier, reducing compliance risk, and even identifying revenue opportunities. Tune in to this episode to learn: -How AI can be harnessed to improve PT documentation -A way you can uncover whether your therapists are billing the appropriate number of units -Strategies to make billing and compliance easier and more efficient To learn more, visit predictionhealth.com or reach out to Kelly directly by emailing kellybrown@predictionhealth.com. Interested in learning more about the Profitability Under Pressure 13-week masterclass? Our first cohort starts next week, so now is the time to act. Copy and paste this link into your browser to learn more: https://bit.ly/42Uy3gz

Since 2016, physical therapy reimbursement rates have declined by more than 10 percent. Yet Tony's practice in Gainesville, Florida has almost tripled revenue in that amount of time. How'd they do it? One key to success has been Tony's ability to successfully renegotiate insurance contracts. Through negotiations, Tony has secured an average 15% increase over the last couple of years. In fact, his largest payer gave him a 10% increase each year for the last 3 years. In this episode, Tony shares his exact process and recommendations for other owners interested in renegotiating reimbursements. SHOW LINKS: Read about Tony's story and discover the 9 steps for renegotiating your rates: getbreakthrough.com/negotiating-physical-therapy-reimbursement-rates/ Profitability Under Pressure 13-Week Masterclass: https://bit.ly/42Uy3gz

Feeling the pressure of declining PT reimbursements and rising costs? Considering adding cash-based services to increase profitability and improve patient outcomes? In this special episode, you’ll hear from a panel of practice owners who added cash-based services and successfully improved patient outcomes while increasing revenue in their practice. You'll discover what cash-based services are working today and learn best practices for rolling out a cash-based service in your clinic. Guest speakers include practice owners who have implemented therapeutic lasers, electrical stimulation devices, and 3D running technology. Jason Waz, Practice Owner of Competitive Edge Performance and Founder of NeuPTtech, grew cash revenue to $50,000/month without adding more square footage — and increased revenue by $15 a visit in the first year after adding a cash-based service. Maggie Hammerschmidt, Practice Owner of Team Rehabilitation-Lincoln Park, was able to monetize her passion for running and help elevate others who share that passion. Tom Loyd, Practice Owner of Bryn Mawr Sports Rehab and Physical Therapy, was able to add cash-based revenue without a lot of extra effort. Mark Callanen, Director of Marketing and Clinical Education Recovery Sciences at Enovis reveals how cash-based products can improve patient outcomes while increasing practice revenue. To learn more about the technologies mentioned in this episode, check out the links below. Enovis™ Recovery Sciences: https://www.djoglobal.com/recovery Neufit: https://www.neu.fit/ RunDNA: https://rundna.com/ Lastly, if you’re a practice owner experiencing shrinking profit margins from declining reimbursements...and if you are finally ready to take control of your practice profitability...you could be a great fit for Breakthrough’s new program, Profitability Under Pressure. Profitability Under Pressure is a 13-week masterclass where you’ll learn how to create a custom plan for improving your profitability, drop your lowest payer, renegotiate insurance contracts, add cash-based services, and systematically attract better-paying patients. To learn more and apply, copy and paste this link into your browser: https://bit.ly/42Uy3gz

Jarid Adams is Co-Founder of Theracentric, a Remote Therapeutic Monitoring tool that can help practices increase revenue by more than $100 per patient. With declining reimbursements, we have to look at new ways to increase revenue per patient. Remote Therapeutic Monitoring is one avenue you can explore to help increase insurance-based revenue, while simultaneously improving patient outcomes. In this episode, Jarid shares advancements in RTM, how to get your team onboard to buy in, and what a hybrid treatment model can look like. To learn more about Theracentric, visit www.theracentric.com or find them on Instagram @theracentric If you’re looking to get your profit margins back on track and gain financial stability in your practice, you could be a great fit for Breakthrough’s new program: Profitability Under Pressure. It's a 13-week masterclass for practice owners, where you'll learn... -How to perform a financial analysis of your practice and create a custom plan for improving profits -How to drop your lowest payer and renegotiate insurance contracts -How to implement a cash service to improve profits -How to systematically attract better paying patients -How to maximize utilization of space and personnel To learn more and apply, visit https://bit.ly/3N1JA7M

Are you a practice owner who’s battling against declining reimbursements, upward pressure on increased costs of operating your practice, and shrinking profit margins? If any of that resonates, then you won’t want to miss this episode. Chad Madden and Carl Mattiola team up to disclose the 3 keys to increasing profit margins despite declining reimbursements. You’ll also learn about a new course Breakthrough is offering to help owners deal with these issues and implement solutions to become more profitable. If you’d like to learn more about this course and ask Chad questions about it live, you can sign up for a live webinar happening next week on this exact topic. There are two dates you can join (pick the one that works best for you): Tuesday, June 13 or Thursday, June 15. Sign up for one of the live webinars here: https://bit.ly/3J341jA Ready to get started and want to Apply for Profitability Under Pressure Now? Visit https://bit.ly/3N1JA7M

Chad sits down with Bob Kowalick, PT and CEO of Revenue Cycle Solutions. Bob shares ways to increase profitability by gaining efficiencies in your billing processes. They talk through strategies such as: -Optimizing your payer mix -Using data to improve how fast your practice gets paid -Improving efficiencies in your billing department SHOW LINKS: Bob's white paper: Do you have a black hole feeding off your practice? https://drive.google.com/file/d/1kQucoCt-yY8lgSWRtmSf1CeINvIJIQix/view?usp=sharing Bob's contact info: robert@certifiedrsllc.com. Free growth consultation with Breakthrough: getbreakthrough.com/podcastoffer

In this episode, Chad shares a personal story about his 15-year-old son's success in the music industry and extracts valuable marketing lessons that can be applied to private practice. He emphasizes the importance of hard work, delayed gratification, and one-to-one communication in achieving success. Chad discusses how most people overlook the work that goes into success and highlights the need to focus on the daily grind and building strong relationships. He also emphasizes the value of working through failure and adopting a strategy of firing bullets before cannonballs. Additionally, Chad explores the concept of finding success by paying attention to trends, building networks, and doing personal follow-ups. The episode provides valuable insights into the importance of hard work, perseverance, and effective communication in achieving success in today’s world of private practice. How would you like to get a free strategy call where you can learn how to put these marketing principles into action? In this call, you’ll meet with one of Breakthrough’s Program Directors to learn ways your practice can improve profit margins, create demand for your services, and attract better paying patients. Copy and paste this link in your browser to sign up for a Free Strategy Call with Breakthrough: getbreakthrough.com/podcastoffer

Chad sits down with Steven Liska from Limber to discuss the innovative world of Remote Therapeutic Monitoring (RTM). They delve into the importance of RTM codes and their impact on reimbursements and patient outcomes. They also touch on the challenges of relying on insurance companies for reimbursement and the future trend of hybrid patient support models. Tune in to learn more about RTM's potential to improve patient outcomes, increase practice revenue, and navigate the evolving landscape of value-based care. To learn more about Limber, visit limberhealth.com/breakthrough Limber is partnering with Breakthrough to deliver insider secrets on improving your margins and overcoming low reimbursements at the Patient Demand Summit. It’s a free online event on Thursday, May 25th. It’s exclusively for growth-minded practice owners who are ready to take control of their profit margins. Click the link to register: https://bit.ly/422bx5i