The move toward value-based pricing may be confusing to many physical therapists who have not ventured away from traditional fee-for-service payment.

For us to shift our mindset to alternative pricing, we must be comfortable with accepting some of the financial risk of providing care. We are used to being paid by timed units of service. Accepting financial risk moves us in a different direction and means we need to be able to predict our outcomes for a specific patient population. In order to do this effectively, you must know your cost and profit points. You shouldn’t venture into these models until you know your key practice metrics.

 

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Leading others can come with its own set of unique challenges and it’s worth it to spend the time learning some of the tricks of the trade to become effective.

Ken Blanchard’s model of situational leadership stands as one example.1 Taking on the responsibility for getting results produced through a group of people is certainly different than being an individual contributor.

At minimum, results are measured based on the bottom-line success of the business and achieving financial results. In this era of a highly mobile workforce and the ever present “gig” economy, simply getting financial results is not a long enough yardstick. Leaders in all forms of business, including the business of physical therapy, are called to create more than financial results if the business is to survive and thrive. The measuring stick of results now includes creating environments where employees can experience levels of well-being while getting their work done. Never has the challenge for leaders been greater, and this holds true in our own profession where the demands of providing care must align with the demands of rules and regulations.

 

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Health care providers now practice in a rapidly changing landscape. To remain successful and profitable as a business and practitioner in America as the ground shifts beneath our feet, we are forced to navigate through uncharted waters manning the helm as best we can and attempting to “stay steady as she goes.”

Payer reforms have changed and continue to change how health care is delivered and reimbursed—rewarding organizations that can deliver better patient-level results while often treating a greater volume. Much of this has been driven by the climbing cost of health care and has prompted a new model of delivering care with a focus on timely results. Health care providers are now held accountable for practice outcomes and will be reimbursed according to efficiency and skills in producing those outcomes.

 

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From luxury cars to exotic travel, naturopathic living, and fit moms, there are many types of lifestyle experts across the globe. These people, otherwise known as influencers, boast hundreds of thousands — sometimes millions — of followers on social media and YouTube. They’re often sought after as speakers because of public interest in their actual or self-proclaimed expertise in a certain area of life. Lifestyle experts have become known as those who can endorse or refute an idea or a product to cause a movement among people. Whether on the news or via social media they can begin a new trend by simply endorsing a new product, habit, or saying. Lifestyle experts, because of their influence, essentially become leaders once well-established.

Can physical therapists become lifestyle experts? Can we be considered a lifestyle expert as a part of our career path without diluting the core of the profession? Absolutely!

 

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I know you. Well, at least 80% of you. You are a great physical therapist, maybe even the best in your area. You are passionate about quality care and you love the business side of physical therapy. Yet you are challenged by marketing. In fact, you hate selling. You believe that physical therapy is not something to be “sold,” it is something that is needed.

While I, too, feel uncomfortable when stepping foot onto a used car lot, the concept of “sales” and “selling” is one that we cannot shy away from in physical therapy. It is a requirement for our survival.

Believe it or not, sales is something that can—and should—be delivered naturally, sincerely, and with authenticity.

Within physical therapy, this is best achieved through a five-step process, parts of which you are likely already doing today. Infuse a little strategy and polish into the process, and you will be well on your way toward sales efforts that work and that you will begin to love.

 

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I enjoy talking to high school students about careers in health care, as it lets me share a profound realization: I am very fortunate to have a career I thoroughly enjoy and find greatly rewarding.

My interests and passions led me to physical therapy, and I help people lead more active lives and contribute to my community. So then why, about halfway through my now 30-year career, did I begin to ask myself, “Am I getting as much from my work as I would like to, or would I be happier if I opened my own clinic?” If you are asking yourself similar Why questions, there are some additional questions to answer on the path to strategically opening a clinic. 

 

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A strategic partnership is an arrangement between two companies to work together toward a common goal. The companies share resources such as knowledge, space, staff, and services to achieve a goal that would be difficult alone.

For a physical therapy practice, forming a strategic partnership lets you expand your pool of potential patients/clients, develop new programs, expand services quickly, and integrate deeper into your community. In addition, strategic partnerships are a great way for physical therapy clinics to support and encourage patients to adopt healthier and happier lifestyles. 



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