Grow Your Practice Podcast

In this episode of 'Grow Your Practice Podcast,' host Chad Madden, owner of Madden Physical Therapy and Breakthrough, delves into setting up an effective marketing budget for private practices. Chad outlines a rule of allocating 10% of gross revenue towards marketing, discussing how this evolved over time and its implications for growth. He breaks down the different avenues for attracting new patients, from cold traffic marketing to reactivations, and shares insights on tracking ROI and optimizing marketing expenditures. Tune in for actionable tips, principles, and strategies to help your private practice thrive.If you find this episode helpful, we have the 'Profitability Under Pressure' program, a 13-week course with insights into improving time management, managing payer mix, enhancing patient lifetime value, and more. Success stories from various practice owners who implemented these strategies are shared, highlighting significant growth and financial stability achieved. To learn more and apply for Profitability Under Pressure, visit: https://hubs.la/Q02H_3Sl000:00 Introduction to the Podcast00:19 Setting Up a Marketing Budget00:45 The 10% Rule for Marketing Budgets02:42 Historical Context and Evolution of Marketing in PT03:16 Breakdown of Marketing Budget Allocation06:05 Cold Traffic Marketing Strategies06:08 Case Study: Shrewsbury Clinic21:35 Tracking ROI and Attribution Challenges26:39 Effective Patient Outreach Strategies29:53 Conclusion and Final Thoughts

Mike Hyde, owner of Hayden Physical Therapy, transformed his sports injury experience into a thriving private practice. He shares his journey from athlete to entrepreneur, discussing the importance of workshops and marketing for patient flow. Mike highlights strategies for financial optimization, including working with tax professionals and the challenges of real estate ownership versus leasing. He emphasizes personal growth through leadership literature and community connections, showcasing how practice owners can navigate challenges effectively.

In this episode of the Grow Your Practice podcast, host Chad Madden discusses common challenges faced by private practice owners, particularly the feeling of wearing too many hats and juggling numerous responsibilities. Chad shares effective systems and strategies for prioritizing tasks and delegating less valuable activities to free up time for more critical functions, such as team building and process improvement. The episode includes practical exercises on listing out weekly activities and assigning dollar values to them, helping owners focus on high-leverage tasks to enhance the overall growth and profitability of their practice. The discussion touches on various operational aspects like marketing, billing, and team management, providing actionable insights to help owners streamline their practice management and regain control of their time.If you find this episode helpful, we have the 'Profitability Under Pressure' program, a 13-week course with insights into improving time management, managing payer mix, enhancing patient lifetime value, and more. Success stories from various practice owners who implemented these strategies are shared, highlighting significant growth and financial stability achieved. To learn more and apply for Profitability Under Pressure, visit: https://hubs.la/Q02H_3Sl000:00 Introduction to the Podcast00:19 The Challenge of Wearing Too Many Hats00:42 Prioritization Systems for Practice Owners02:38 The Importance of Processes and Systems02:57 Detailed Example: Clinician's Workflow04:46 Applying Systems to Business Operations05:58 Exercise: Identifying and Valuing Tasks13:26 Profitability Under Pressure Course Introduction15:21 Valuing Your Time and Delegating Tasks24:18 Final Thoughts and Next Steps

Chad Madden, owner of Madden Physical Therapy and Breakthrough, shares his expertise on attracting higher-paying patients. He emphasizes the power of consistent messaging and strong community partnerships. Chad discusses effective strategies for reactivating past patients, focusing on educational workshops instead of discounts to engage high-value clients. He also tackles reimbursement challenges, highlighting the need to improve payer mix by drawing in private pay clients. His insights are invaluable for private practice owners seeking growth and collaboration.

Physical therapist Trina Sanders shares her journey into private practice, emphasizing time management, marketing strategies, and hiring the right team. She discusses challenges of starting a new practice, effective productivity tips, and the use of a virtual assistant. Tune in for practical advice on scaling and growing your practice.

In this episode of the Grow Your Practice Podcast, host Chad Madden tackles the challenge of aligning incentives amidst declining reimbursements. Chad discusses effective strategies to motivate team members while addressing the financial pressures faced by private practices. Key highlights include the importance of transparent financials, implementing incentive plans, and the necessity of involving team members in decision-making. Chad also shares valuable insights from his own practice and interactions with other practice owners. Tune in to learn how to navigate financial challenges and foster a collaborative environment in your practice.We will go even deeper into this topic and more in our next FREE virtual event, Revenue Per Visit Summit. Register and join in on the conversation with 600+ practice owners and 8+ expert guests. https://www.getbreakthrough.com/learn00:00 Introduction to the Podcast00:21 Aligning Incentives with Declining Reimbursement01:06 Understanding the Financial Context02:22 Implementing Incentive Plans03:07 The Importance of Transparent Financials04:54 Team Member Engagement and Financial Education19:37 Weekly and Monthly Meetings for Accountability22:52 Q&A Session: Incentive Structures and Best Practices34:56 Conclusion and Upcoming Events

Chad Madden, Owner of Madden Physical Therapy, discusses reactivation strategies for private practices. He highlights the importance of reactivating past patients, effective communication methods, and the benefits of reactivation strategies. The podcast also mentions an upcoming Revenue Per Visit Virtual Summit to boost practice profitability.

Tips and strategies for physical therapists to keep their schedules full, including schedule control, evaluations, patient marketing, referral sources, and cold traffic marketing. Insights on improving patient engagement, treatment plan adherence, and increasing reimbursement rates. Includes a preview of the Revenue Per Visit Virtual Summit event.

In this episode of the Grow Your Practice Podcast, hosted by Chad Madden, Tina Marie Schultz, an experienced private practice business manager, shares her journey and strategies for enhancing profitability and operations in private practices. Tina discusses how she identified challenges, implemented improvements, and grew patient referrals through superior service and community involvement. She dives into the importance of well-trained front desk staff, marketing strategies, and adapting during crises. We will go even deeper into strategies to optimize billing and more in our next FREE virtual event, Revenue Per Visit Summit. Register and join in on the conversation with 600+ practice owners and 8+ expert guests. https://www.getbreakthrough.com/learn00:24 Meet Tina Marie Schultz00:43 Tina's Journey in Private Practice01:40 Implementing Business Strategies03:19 Success Stories and Business Growth04:18 Tina's Business Background13:43 Navigating Challenges and Opportunities16:14 Personal Insights and Influences17:29 Marketing Strategies for Private Practices25:12 Conclusion

Discover effective strategies for incentivizing your team in a private practice, pitfalls to avoid, and real-life examples in this podcast. Learn about maximizing clinic profitability through staff incentives and the importance of transparent communication. Find out how to enhance team motivation and boost your practice's profitability through innovative incentivization programs.