Each week, the Grow Your Practice Podcast with Chad Madden of Breakthrough brings you no-nonsense marketing & business growth strategies that deliver new patients and higher profits. Co-Founder of Breakthrough, Owner of Madden Physical Therapy and Author of "Killer Marketing Secrets for Private Practice PTs", Chad grew his practice 600% in the last five years using direct response marketing strategies. He sees more than 200 new patients each month in his single location Private Practice. Now ...
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If you’re like many owners, your revenue per visit stays the same. For others, it’s slightly decreased. These rates are not keeping up with inflation. This is a problem. We put together an educational session in a webinar to address this issue. In this episode, I go over: A simple 4-step process any owner can do to create a plan How owners have inc…
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Should You Worry About Revenue Per Visit?
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Navigating the Pressures of Private Practice: Revenue, Profit Margins, and Staffing This episode delves into the primary concerns of private practice owners as revealed by a recent national survey: revenue per visit, profit margins, and staff retention. The discussion highlights the challenges of declining revenue per visit, influenced by factors l…
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Learn The Best Strategies for Generating Cash-Based Revenue For Your Private Practice
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Have you invested in laser therapy or shockwave modalities? If you're like most PT private practice owners, acquiring the device is only the beginning - getting patients to buy in and purchase cash-based treatment packages is a whole other ballgame. Join Chad Madden as he teams up with Mark Callanen from Enovis during a previously-recorded live web…
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Exponentially Boost Practice Growth With The 5-Star Patient Experience: A Throwback Discussion with Steve Line
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Throwback Episode from September 2021: "Practice Owner & author Steve Line Shares How to Grow Your Practice with “The Feel Good Experience" Join Chad Madden for an insightful conversation with Steven L. Line, the author of "The Feel-Good Experience: Growing Your Physical Therapy Practice with 5-Star Customer Service." In this engaging episode, you'…
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$20M Marketing System: Discover the Keys to Building a $20.8 Million Physical Therapy Private Practice
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Want to take your physical therapy private practice to new heights? Join us for a game-changing episode and learn the $20M Marketing System for Physical Therapy Private Practices. In a recent webinar, Chad Madden taught a live audience how he used precise marketing systems, honed over 20 years, to grow his PT practice from $4M to $20.8M in 6 years.…
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Data-Driven Practice Growth: Strategies for Scaling and Optimization with Special Guest Bob Kowalick
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In the world of physical therapy private practice, understanding the intricacies of revenue cycle management can significantly improve profit margins and practice growth. The Grow Your Practice podcast welcomes back Bob Kowalick, a seasoned physical therapist and CEO of Revenue Cycle Solutions. Kowalick shares insights from his extensive experience…
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Grow Profits With Reactivations? In this episode, Chad Madden answers an owner's question about how to fill space and schedules with every practice's #1 asset. Learn strategies to improve profitability through reactivations in private practice, including key principles and tips shared by Chad Madden, owner of Madden Physical Therapy and Breakthroug…
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Creating a Positive Impact: Tony and Melissa Cere, Owners of Kinetix PT, on Building Team Culture, Adding Cash-Based Services, Renegotiating Reimbursement Rates, and Balancing Growing Family Life with ...
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Podcast: Tony & Melissa Cere, March 8 2024 In this podcast episode, we're introduced to Tony and Melissa Cere, the duo behind Kinetix PT. Listen in as this successful married couple shares their journeys into physical therapy, their experiences as clinic owners, and the challenges they've faced. The two speak in depth about their communication meth…
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David Straight of E-Rehab on Physical Therapy Marketing, Simplifying Websites and Reputation Management, the Importance of Google Reviews and Future Trends.
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In this episode, I sat down with David Strait of E-Rehab to discuss the evolution of physical therapy marketing. We explore the importance of a good website and online presence, the role of video, and future trends in the industry.By Grow Your Practice Podcast
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How to Practically Guarantee Your Patients Complete Their Full Plan-of-Care
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In this episode, I cover the 7 braindead simple steps for preventing no-shows, last-minute cancellations, and drop-offs. Patient no-shows and cancellations is one of the most common profit leaks we see. At the end of this episode, you’re going to know how to stop throwing your marketing dollars down the toilet and get a better ROI so you can increa…
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Is your marketing working for your practice? In this episode, you'll discover my 5 best-performing channels for getting new patients. Gain an understanding of the shifting landscape of physician referrals, and why diversifying your channels for getting new patients is critical to ensure business stability and growth. Learn how I track and attribute…
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Why does the healthcare system undervalue PT? In this episode, I grapple with the reasons why insurance companies, healthcare systems, and politicians may not prioritize conservative care, specifically physically therapy, despite the evidence that it works and it's cost-effective. Your practice is likely impacted by the realities of our current hea…
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How much should you spend on marketing? This is a question I get asked all the time. When profits shrink, marketing is often one of the first line items in the budget to go. This is a mistake. When done correctly, marketing is a signficant revenue-driver. When you cut back on marketing costs, revenue (and profit) declines along with it. I talk thro…
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How I Built My 2024 PT Marketing Calendar
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In a world of skyrocketing inflation and declining reimbursements, practice owners are faced with two options: Stick to the status quo and see profits decline or Innovate and see profits grow. Marketing can no longer be considered optional. To ensure success in this environment, data-backed marketing is a necessity. That's why I'm giving away my 20…
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John Twomey, Arizona Practice Owner, on Adapting to Changes in Hiring and Getting New Patients
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John Twomey, Owner of PRO Therapy in Lake Havasu City, Arizona shares insights on hiring, business growth, and the evolution of direct access. Discover the hiring and marketing methods that have helped John adapt to changes in the market, including the labor shortage and declining physician referrals. Learn about John’s experience transitioning awa…
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Mary Daulong of BCMS on 2024 Medicare Cuts & Financial Planning
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It's not the first time we've talked here about Medicare Cuts, and it won't be the last. The fact is, declining Medicare payments have an impact on reimbursements across the board and should not go ignored. This episode is a recording of a recent webinar that Mary Daulong, President of BCMS and Chad Madden co-hosted. The episode provides a summary …
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Behind the Scenes at FlexPlus PT: Insights into Hiring, Marketing, and the Changing World of PT
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Cheryl Abelow and Lauren Abelow are Private Practice Owners of FlexPlus PT in Massachusetts. In this episode, Cheryl and Lauren share their insights into how private practice physical therapy has changed since Cheryl started the practice 19 years ago. Cheryl, a second-career physical therapist, recounts her transition from the corporate world to th…
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The Purpose of Planning: Creating a Vision, Priorities, and Roadmap for Your Practice in the Year Ahead
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It's that time of year! Have you completed an annual plan for your practice in 2024? If not, tune in to this episode to gain insights on the purpose of planning and why it's so important to make time for it. This episode includes insights on how to develop a vision for your practice, core values, growth projections, and quarterly priorities. From s…
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Reflecting on 2023 and Looking at the Opportunity for Practice Owners in 2024
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In this episode, Chad Madden reflects on the highs and lows of 2023 and looks ahead to what's in store for 2024. From increased pressure on private practices to the shifting landscape of healthcare spending, Chad highlights the key trends impacting the industry. He also shares the opportunity for private practice owners in 2024 that will go largely…
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Since 2008, the Medicare conversion factor, which helps determine how much you get paid by Medicare and guides rates for many other payers, has dropped by 14%. At the same time, inflation increased by 43%. It’s no wonder that countless practices are fighting just to make enough money to pay their employees. But make planning a priority, you can inc…
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Lance Gross, Owner of GTS, on His Journey From Zero to 17 Clinics in 5 Years
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Lance Gross, Owner of GTS Physical Therapy in Arkansas, rapidly (and incredibly) scaled his practice from zero to 17 clinics in 5 years. In this episode, Lance shares lessons learned along his practice growth journey, including how he generated a 90% growth in visits and a 70% surge in referrals and within the span of a year! Hear about how Lance's…
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Alexander Wielohorski, COO of Advanced Physical Therapy, Goes From Managing South America’s Largest Airline to Managing Alaska’s Largest PT Private Practice
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Alexander Wielohorski took a unique path towards physical therapy practice ownership. A mechanical engineer by trade, several years ago Alex managed 30,000 airline employees at a large airline in South America. Flash forward to today, and he co-owns Alaska’s largest physical therapy private practice… And shares that it’s more complex than he would …
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Chris Gordos on Doubling Patient Visits Despite Losing His Biggest Referral Source
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Chris Gordos, a PT practice owner in Central Pennsylvania, didn’t believe in marketing. His mindset was “If you offer a good service, patients will come.” Then he lost his biggest referral source. When that happened, he knew he had to find another way of getting patients in the door. So he tried direct-to-consumer marketing - and it worked. After b…
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3 Lessons Every PT Clinic Owner Needs to Know About Money
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In this episode, I share the best lessons I’ve learned about money from my 3 mentors. Part of my mindset is to go out and learn from others so I can from their wisdom and experience, and I don’t have to reinvent the wheel. Through that process, I found 3 very good mentors who I’ve been working with for decades. For this episode, I asked all of them…
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The Essential Drucker: Secrets to Getting Your Finances in Order to Survive and Thrive Without the Stress
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If you've been in practice for awhile, you’ve worked hard to build a practice where you provide high-quality care and have made a positive impact in your community. More reimbursement cuts threaten this hard work. In this episode, I talk about what practice owners can do from a high-level management perspective to get their finances under control. …
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At a time profits are declining for many practice owners, it's important to refresh ourselves on how money works. The 5 Financial IQs from Robert Kiyosaki are a good starting point for thinking about how to grow wealth and secure a healthy nest egg for you and your family. In this episode, I walk through the 5 Financial IQs from Robert Kiyosaki and…
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My Secret Weapon for Increasing Profits in 2024
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As of the date of this recording, there are only 61 days left in the year. Have you started thinking about your annual practice plan? There’s one thing you need to do first before you get started. Most owners will never take the time to do this, and as a result, miss out on thousands of dollars in profit. Want to create an annual plan that results …
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How to Conduct a Profit Leak Audit in Less Than 36 Minutes
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Discover a shockingly simple way to uncover hidden profit leaks in your practice. This tool helped me gain financial clarity in less than 36 minutes — and I'm giving it away for free. In this special episode, I introduce the Profit Leak Audit. I also talk through time management and give you one important exercise you can go through to prioritize y…
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Where’s the Profit in Private Practice PT?
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Profits are reaching historic lows in private practice. You probably feel like you’re working harder for less money. How did it come to this? And more importantly, what should practice owners be doing to survive? In this special episode, Chad kicks off a brand new Free Training for Practice Owners to Increase Profits. Tune in to discover the startl…
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Disappearing Profits: How I'm Surviving Medicare Cuts
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If the proposed 3.34% Medicare Cut goes through, physical therapists in 2024 will get paid the lowest rate in 30 years. When you account for inflation, we'll effectively get paid half as much as physical therapists in 1994. To survive another round of Medicare cuts, it's imperative to take proactive steps to increase your profit margin. In this epi…
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What They Don't Teach You About Money in PT School
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Unfortunately, PT school still doesn’t teach us about money. A better understanding of money and finances could really come in handy right now(!) when the majority of private practice owners are experiencing shrinking profit margins. In this episode, Chad gives an introduction into what he’s learned about making money, including: The Wealth Formula…
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Laser-Sharp Profits: 3 Ways to Increase Revenue from Cash-Based Services
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Reimbursement rates have dropped lower than they were in 1994. Accounting for inflation, they're half as much today as they were then. Practice owners must find ways to increase revenue. One of the most effective ways you can do that is by adding cash-based services. In this episode, Chad talks with Mark Callanen, Director of Education at Enovis™, …
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Steven Coen, CEO of Sara Health, on Bridging the Communication Gap Between Clinicians and Patients
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In this episode, Chad talks with Steven Coen, the CEO of Sara Health. Founded in 2018, SaRA Health has been at the forefront of remote therapeutic monitoring long before it was covered by insurance and became popular. Chad and Steven discuss the declining reimbursements in physical therapy and how RTM can increase revenue for providers. Sara Health…
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Planning an Eventual Exit? Here's what you need to know.
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If you're considering selling your practice one day, whether in the next 5, 10, or 15 years — Now is the time to start planning for that future. The earlier you can take action to increase the value of your practice, the better. In this episode, Chad shares how he built his $16.5 million practice (since the time of this recording, the valuation has…
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Winter is Coming: Prevent a Seasonal Slowdown with This Foundational Marketing Concept
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Winter is just around the corner. And that means it’s time to start planning Q4 marketing campaigns to prevent the traditional slow season. Maintaining steady patient volume throughout the year, and avoiding a seasonal slowdown, is more important than ever. The profitability of your practice could be at risk. A recent report showed that inflation s…
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Nick Patel, Executive Director of APTQI, on the 2024 Medicare Cuts Proposal and What It Means For Your Practice
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Nick Patel, the National Director of Clinical Services for USPH and Executive Director of APTQI, sheds light on the looming 2024 Medicare Cuts that have been proposed. In this episode, Nick shares the basics of the recent proposal, including more cuts to the conversion factor. Chad and Nick discuss the potential impacts — what more cuts mean for yo…
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2024 Physician Fee Schedule (PFS) Proposed Rule and What You Can Do About It
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The Centers for Medicaid and Medicare Services (CMS) issued the 2024 Physician Fee Schedule (PFS) proposed rule on July 13, 2023. It includes a 3.34% cut to the conversion factor — yet another cut to physical therapy reimbursements. The current conversion factor is already lower than in 1994, when the U.S. dollar held 52% more value (before decades…
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10 Processes for Hiring, Incentivizing, and Motivating Your All-Star Team
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One of the most common things we hear from practice owners is challenges around retaining staff. And it's no surprise. After all, 4 Million Americans quit their jobs in 2021. And 3.6% more healthcare workers walked away in 2020 than in the previous year. On top of the labor shortage, the industry as a whole is experiencing declining reimbursements …
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Ryan Eder of Include Health on Using Technology to Remove Barriers to Care
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As the Founder and CEO of Include Health, Ryan Eder is committed to fusing design and technology to make physical therapy more accessible. He’s been building the design and technology for Include Health since 2006. In this episode, Ryan shares how technology can enhance the connection between the clinician and their patients in between visits and i…
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Master EBITDA and Increase Your Practice Value
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Planning to sell your practice one day? Whether you want to sell in the next 2, 5, 10, or even 20 years, it’s important to start planning and taking action now to increase your practice value. In this episode, I walk through how to calculate EBITDA and the value of your practice. I share the 3 key determinants of practice value. Listen in to discov…
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Tyson Wigfall of Breakthrough on 3 Marketing Activities for Maximizing Profitability
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This episode is a recording from the recent Breakthrough Patient Demand Summit on increasing profit margins. Over 200 physical therapy practice owners were in attendance. Tyson Wigfall, Head of Marketing at Breakthrough, leads this session. Tyson is a true marketing expert. With well over a decade of marketing experience, Tyson works directly with …
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Mary Daulong: Compliance Strategies to Control Financial Losses and Increase Profit
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With declining reimbursements and shrinking profit margins, it's important to look at your billing and compliance processes. In this episode, Mary Daulong, President and CEO of BCMS, shares the most common mistakes that cause practices to lose money. You'll discover 3 important compliance strategies to prevent financial losses and increase profits.…
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The Journey to Financial Freedom with Jason Waz, Practice Owner and Founder of NeuPTtech
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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 le…
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The Profitability Checklist for Practice Owners: How to Navigate a Challenging Environment
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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 th…
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Harnessing AI for PT Compliance and Documentation
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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…
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Tony Cere on Renegotiating Insurance Contracts for Better Reimbursement Rates
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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% incr…
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The Frictionless Formula for Growing Cash-Based Revenue
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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. …
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Jarid Adams of Theracentric: Increasing Revenue Per Patient with Remote Therapeutic Monitoring
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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…
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Profitability Under Pressure: How to Increase Profits Despite Declining Reimbursements
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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 reimburse…
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Bob Kowalick on Rethinking Your Payer Mix and Unlocking Billing Efficiencies
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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 departmentSHOW LINKS:Bob's …
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