Private Practice Owners Club
Nathan Shields
Hosted by Nathan Shields who sold his PT clinics for 3x the national average!Do you own a physical therapy practice? If so, you know that running a successful business is no easy feat. There are so many challenges to overcome, from marketing and billing to recruiting, hiring and managing staff. Sometimes it feels like you're a one-man (or woman) army.That's where the Physical Therapy Owners Club podcast with host, Nathan Shields, comes in. We're here to help you know you're not alone. This podcast is meant to help you navigate the challenges of owning a PT practice and achieve greater profits, freedom, and the goals you set forth when you opened your clinc.In each episode, we'll talk to successful physical therapy owners about their experiences and share their insights on how to best run a PT clinic. Here are some examples of the Physical Therapy Owners Club Podcast's Topics & Highlights:1. Unveiling the Secrets of Successful Clinic OwnersWe delve into the minds of highly successful physical therapyclinic owners. Discover the essential traits, habits, and strategies that setthem apart from the competition. Get ready to unlock the secrets to building athriving practice that stands the test of time.2. Mastering the Art of Marketing for PT ClinicsWe bring you marketing gurus who have successfully harnessed thepower of digital and traditional marketing to grow their physical therapybusinesses exponentially. From social media strategies to community outreach,you'll gain valuable insights that will revolutionize your clinic's marketinggame.3. Building a Dream Team: Recruiting, Hiring, and On-Boarding/Training PhysicalTherapists and Top TalentYour team is the backbone of your practice's success. Learn fromHR experts and seasoned clinic owners as they spill the beans on effective recruitingand hiring practices, fostering a positive culture, and retainingtop-notch talent for the long haul.4. Mindset and Leadership for Clinic OwnersThe journey of a physical therapy practice owner is not withoutchallenges. Explore the power of a growth mindset, leadership development, andovercoming common entrepreneurial obstacles to lead your clinic confidentlytoward success.5. Scaling Up: Expanding Your Clinic's FootprintDreaming of expanding your physical therapy business? We’llexplore growth opportunities, opening multiple locations, and franchisingmodels for ambitious clinic owners aiming to take their practices to newmarkets.6. Financial Strategies for Sustainable GrowthFinancial health is critical for the long-term success of anybusiness. Tune in as financial experts share practical tips to manage yourclinic's finances efficiently, navigate insurance complexities, and maximizeprofitability without compromising patient care.7. Embracing Technology for Enhanced Patient CareWith technology advancing at lightning speed, learn how toharness cutting-edge tools, telehealth solutions, and software to optimizepatient outcomes and streamline your clinic's operations. We'll explore thelatest tech trends reshaping the physical therapy landscape.8. Navigating the World of Healthcare LegislationHealthcare legislation can be a maze of complexities thatsignificantly impact your practice's operations and profitability. Joinindustry experts as they break down the latest regulations, provide compliancetips, and share best practices to stay ahead of the curve and optimize yourclinic's performance.9. Nurturing Patient Relationships and Boosting Customer LoyaltyWord-of-mouth marketing remains one of the most potent tools forgrowing your clinic. Discover the art of patient engagement, improving patientexperiences, and cultivating lasting relationships to build a fiercely loyalcustomer base.10. Success Stories: Inspiring Case Studies from PT PracticeOwnersIf you're looking for a podcast that can take your physical therapy practice to the next level, the PT Owners Club wil do it! Join us on Facebook Group, too!
Episodes
Mentioned books
Sep 18, 2018 • 27min
WebPT’s Heidi Jannenga Part 2 – Earn $150k More by Doing This!
What if I told you that if you focused on one thing, it would return you over $100,000 per year, would you be interested? Heidi and I continue our conversation about the current state of the PT industry and business ownership, and delve specifically into this topic. PT owners are losing money, over $100k per year, because they and their PTs aren’t getting patient buy-in to PT services. WebPT’s report showed that 90% of patients aren’t completing their Plan of Care. Improving that one thing, if focused on with every provider in your clinic, will immediately make an impact on you and your patients. Imagine the benefits – improved outcomes, improved reputation, improved referrals/word of mouth, improved financials, etc. What would you do with an extra $100k this year? Shoot me an email with your response and I’ll send you a gift!
Love the show? Subscribe, rate, review, and share!Here’s How »Join the Physical Therapy Owners Club today:ptoclub.comPhysical Therapy Owners Club FacebookPhysical Therapy Owners Club LinkedInPhysical Therapy Owners Club Twitter
Sep 11, 2018 • 34min
WebPT’s Heidi Jannenga Part 1 – Current Trends in PT Business Ownership
As one of the progressive leaders in our industry, Heidi Jannenga, PT, DPT, ATC, and her group at WebPT decided to get the pulse of the PT industry by surveying over 7000 rehab professionals across the country. The report, “The State of Rehab Therapy in 2018,” provides some important information regarding the current PT climate and, specifically, regarding PT business ownership. We discuss the aspects of the report pertinent to PT owners, and in this episode that topic is the fact that PT owners lack marketing and growth strategies! Focusing solely on physician referrals is not a recipe for growth. There’s so much more business out there!
Love the show? Subscribe, rate, review, and share!Here’s How »Join the Physical Therapy Owners Club today:ptoclub.comPhysical Therapy Owners Club FacebookPhysical Therapy Owners Club LinkedInPhysical Therapy Owners Club Twitter
Sep 4, 2018 • 32min
Secrets To Wealth For Private Practice Owners: Ensuring A Profitable Practice with Christopher Music
Many physical therapists who decide to convert into business and private practice usually dive in immediately without taking into consideration the processes that it entails. One thing they commonly overlook is the financial aspect, and this often leads them to losing. Known as “The Financial Prosperity Coach,” Christopher Music shares some of the common issues among physically therapy owners financially speaking. Christopher observes that they are often blinded by that search for success that they fail to recognize that being a business owner means having to turn over your being a physical therapist cap. He lays down some issues they will have to face such as staffing and engaging with CPAs and book keepers, and imparts the importance of financial education above all.
Love the show? Subscribe, rate, review, and share!Here’s How »Join the Physical Therapy Owners Club today:ptoclub.comPhysical Therapy Owners Club FacebookPhysical Therapy Owners Club LinkedInPhysical Therapy Owners Club Twitter
Aug 28, 2018 • 1h 1min
How to Hire “A” Players with Jamey Schrier
Contrary to the belief of less is more, in business, having more people means getting many of the tasks done in no time. This was my constant refrain in the beginning stages of PT business ownership, “I love doing the PT, I just hate running the business!” That all changed when I started hiring the right people. In this episode, Dr. Jamey Schrier shares how to hire “A” players onto your team, because when you do that, you will obtain stability and freedom. The right people in the right positions will take your business to levels that you cannot take it by yourself. As Jamey shares through his process, by hiring the right people and empowering them, your business will grow and be positively affected for years. He also talks about the importance of coaching and networking when it comes to figuring out your business while giving a peek into his book, The Practice Freedom Method.
Love the show? Subscribe, rate, review, and share!Here’s How »Join the Physical Therapy Owners Club today:ptoclub.comPhysical Therapy Owners Club FacebookPhysical Therapy Owners Club LinkedInPhysical Therapy Owners Club Twitter
Aug 21, 2018 • 42min
Are You For Sale? with John Dearing
What is your plan for the future? Do you want to stay owner or are you for sale and want to cash out at some time? There are a number of different options, but it also includes making sure that your financial and legal affairs are in order. It’s a seller’s market. If you don’t know, there is a lot of activity in the physical therapy space for mergers and acquisitions. With the current sellers’ market, it’s important to know if you want to sell and if you are prepared to sell. John Dearing lists nine tips for preparing your business mentally, financially, and organizationally for sale. John is the managing director at Capstone Strategic, a leading consulting firm specializing in privately held not for sale acquisitions for the middle market. If you don’t have everything organized and prepared it could take up to six months to do so, and another six months to two years after that to see the transaction go through. Even if you don’t want to sell, going through the steps that John mentions will make your business more stable, sound, prepared for growth, and provide you clarity on what you really want out of your business.
Love the show? Subscribe, rate, review, and share!Here’s How »Join the Physical Therapy Owners Club today:ptoclub.comPhysical Therapy Owners Club FacebookPhysical Therapy Owners Club LinkedInPhysical Therapy Owners Club Twitter
Aug 14, 2018 • 36min
“Culture Eats Strategy For Breakfast” (Peter Drucker) And How To Create It with Will Humphreys
The famous quote often attributed to thought leader Peter Drucker goes, “Culture eats strategy for breakfast.” It is often agreed that how we do things is more important than how well we do them. In other words, it is often agreed that culture is more important than strategy. But do we really put that into practice? How much effort are you placing on your company’s culture? Simply put, culture is the way we do things. It is less about what we want to achieve and more about who we are. Putting a focus on it will go a long way. Will Humphreys shares what has been done at Rise Rehab to improve our culture and how it’s helped in hiring the right people, letting go of the wrong people, and create a productive and meaningful organization that people love to work for.
Love the show? Subscribe, rate, review, and share!Here’s How »Join the Physical Therapy Owners Club today:ptoclub.comPhysical Therapy Owners Club FacebookPhysical Therapy Owners Club LinkedInPhysical Therapy Owners Club Twitter
Aug 7, 2018 • 32min
What’s Your Plan? Simple Business Plans and Budgets
Most practice owners don’t have a written business plan and written budgets. They may be looking at numbers but they don’t concretely set targets like they do for the patients that they treat. Chuck Felder of HCS Consulting says it’s important to create business plans and budgets to keep you and your team rowing in the same direction, having that alignment, teamwork, and cooperative mindset. How can they make decisions and focus their time if they don’t know what the goals of the company are and how they fit into it? Simple plans and goals keep you unified and maintaining proper budgets gives you the power to actually predict your profits in the future. Who wouldn’t want that? Take the time to monitor and follow these three things on a regular basis – KPIs, business plan, and budget – and you’re on your way to maintaining a healthy, successful business.
Love the show? Subscribe, rate, review, and share!Here’s How »Join the Physical Therapy Owners Club today:ptoclub.comPhysical Therapy Owners Club FacebookPhysical Therapy Owners Club LinkedInPhysical Therapy Owners Club Twitter
Jul 31, 2018 • 47min
Key Metrics For Running Your Clinic with Chuck Felder
What does your dashboard look like? Not in your car, in your business. KPIs or key performance indicators are the dashboard to tell you how your business is running. Chuck Felder of HCS Consulting breaks down the key metrics for running your clinic and discusses the importance of tracking and monitoring those. Chuck has used his PT and MBA degrees to become an expert in PT business metrics, and shares his wealth of knowledge with us. Compare yours to his or start building and monitoring your own dashboard as Chuck dishes out some great information to share regarding how to manage PT clinics and how to create a strategic plan around how they’re operating.Love the show? Subscribe, rate, review, and share!Here’s How »Join the Physical Therapy Owners Club today:ptoclub.comPhysical Therapy Owners Club FacebookPhysical Therapy Owners Club LinkedInPhysical Therapy Owners Club Twitter
Jul 24, 2018 • 53min
Creating A Business That Isn’t Dependent On You!
Not a lot of PT clinic owners are focused on what it takes to create a business that is less dependent upon them as owners. Oftentimes, systems and training, coaching, mentoring, or other accountability methods in order to keep PT clinics in check can be overlooked in the midst of the daily hustle and bustle. Here to share his expertise is Sturdy McKee. Sturdy has built a strong, thriving out-of-network PT business in San Francisco that is not completely dependent on him. There was a time that he couldn’t conceptualize that, but it’s what some PT owners dream of. Even if that’s not you, Sturdy has great advice on how to make your business less dependent on you, the owner. His professional growth and the systems he’s implemented have allowed him the time to coach other PTs and business owners. In fact, if you check out his website, www.sturdymckee.com, you’ll see that he shares some great advice – “Hiring A-players”, “New Awesome Intake Form”, “The 3 Magic Questions”, etc. These resources can help you on your path to making your business less dependent on you.
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Jul 17, 2018 • 49min
Do You Want Steady, Recurring Revenue? Create Raving Superfans!
What’s the secret to creating a loyal, returning patients? Hint: It’s not all about the therapy! It’s about the patient experience BEFORE, during, and AFTER they’ve received your care. Neil Trickett, PT and Founder/CEO of Practice Promotions shares the secrets to creating RAVING SUPERFANS. When you create raving superfans then the domino effect begins – patients complete their plans of care and are HAPPY to pay for your services, they return to you when they’re injured or, better yet, they refer family and friends AND PROMOTE YOU TO THEIR DOCTORS, then those patients pay for your services, you grow your foundational patient base, gain a good rep in the community, you build a steady, increasing base of revenue, increase your mailing/emailing list, and the cycle continues!!!! It gets exciting and PTs across the country are thriving this way. Listen to the podcast and you’ll gain insight on what you can do to create the RAVING SUPERFAN.
Love the show? Subscribe, rate, review, and share!
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Join the Physical Therapy Owners Club today:
ptoclub.com
Physical Therapy Owners Club Facebook
Physical Therapy Owners Club LinkedIn
