Breakthrough Pt Marketing Podcast With Chad Madden

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 the healthcare industry, to opening her own practice nearly 20 years ago. Lauren reflects on her unexpected journey into the family business. Together, they discuss their experiences in hiring, direct access, marketing, and navigating the changing landscape of private practice. Join us as we dive into their story and discover the valuable insights they've gained along the way.Learn more about the next Breakthrough Bootcamp and Register Soon: https://getbreakthrough.com/orlando2024

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 setting long-term growth goals to identifying quick wins you can capitalize on in January, this episode offers a comprehensive exploration of how you can create a plan to achieve your practice goals in the year ahead. This episode is an older recording, but the issues discussed are super relevant right now. For more recent content on this topic, be sure to check out the episode released on December 15 (How I'm Creating My 2024 Annual Plan).Don't forget to get your free copy of the 2024 Profit Planner - a free planning template for practice owners: https://hubs.la/Q02cTt100

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 overlooked.Discover insights into how you can turn challenges into opportunities, differentiate your practice, and adapt to the changing landscape. Tune in to gain actionable strategies to support your practice goals in the year ahead. SHOW LINKSLearn more about the Breakthrough Bootcamp: Master Your Profits in Orlando, Florida: https://getbreakthrough.com/orlando2024Steal my 2024 Profit Planner - a free template private practice owners can use to design a profitable practice plan for 2024: https://hubs.la/Q02cTt100

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 increase your profitability so you never have to worry about making payroll or providing for your family.All of the successful practice owners I know create an annual profitability plan. I believe that if you can’t make a clear plan for your practice, you're never going to be able to make it happen in real life.The alternative is to rely on what the insurance providers or marketplace is going to tell you you’re worth. And I can promise you that’s not going to turn out well. In this episode, I discuss my annual planning process and share the tool I've been using for 20 years to plan for profitability. Recently, one practice owner I worked with, Verel

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 clinic set itself apart from the competition, through strategies such as specialization, hiring top-notch clinicians, and leveraging direct-to-consumer marketing.The conversation also sheds light on Lance's successful team-building strategies, emphasizing the creation of a winning team environment. As the podcast concludes, Lance addresses future challenges, particularly the intricacies of navigating declining reimbursements and rising costs.Tune in for incredible insights on how Lance built a thriving outpatient physical therapy practice in a competitive market. SHOW LINKSLearn more about the Breakthrough Bootcamp: Master Your Profits in Orlando, Florida: https://g

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 have ever imagined - due primarily to a lack of processes and resources. In this episode, Alexander discusses the challenges and business gaps he helped identify in the practice and how they’ve been able to scale effectively.Alexander tells the story of how the practice has expanded and prevented stagnation against all the odds, including reimbursement cuts, increasing local competition, and staffing shortages. SHOW LINKSHave a question for Alexander? You can reach him at awielohorski@aptak.comCheck out the book “Execution: The Discipline of Getting Things Done” Available on Amazon. Exclusive Offer for Podcast Listeners: Schedule a free strategy ca

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 being stagnant for about 10 years, his business started to grow. He soon reached his business goal of doubling patient visits. In this episode, Chris tells that story and talks about what worked for him. He also talks about the current market challenges including low reimbursements, staffing issues, and mounting student debt.Have questions for Chris? You can reach him at his office number 610-944-8140 or email at imgphysicaltherapy@gmail.com. Exclusive Offer for Podcast Listeners: Schedule a risk-free strategy call with a practice growth expert at Breakthrough and get a $50 Amazon gift card. Sign up at https://getbreakthrough.com/podcast

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 one simple question: “What’s the single most important lesson you’ve learned about money?”The answers were surprising and insightful. I think you’ll really enjoy this episode. SHOW RESOURCESLearn more about Profitability Under Pressure, my 13-week masterclass on increasing profits in spite of declining reimbursements.There’s currently a waitlist. However, if you complete the application and let us know you’re a podcast listener, we’ll do everything we can to squeeze you in to the course (it’s our last course of the year). Learn more and apply at: getbreakthrough.com/profitcourse

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. I draw most of the teachings in this episode from the book, “The Essential Drucker,” which provides a comprehensive overview of the works of Peter Drucker, the “Father of Modern Management.” Tune in to learn:-The principles of management-The three areas of management I see practice owners struggle with the most -The single largest reason for the failure of new ventures-The objective function of (and importance) of profitWant to dive deeper and learn specific strategies for increasing profit? Get a roadmap for increasing profitability and learn from other practice owners and experts in my new 13-week masterclass, Profitability Under Pressure. The course start

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 share how I've applied them in my life. SHOW LINKSIncrease Your Practice Profits in 2024 with my Free Profit Planner and Profitability Training. Access it immediately at https://getbreakthrough.com/profitnow

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 in profit? Then you need to create a Profit Plan. In this special episode, I introduce the Free Profit Planner for forecasting profits. To see the full video and get your copy of the Profit Planner, go to https://getbreakthrough.com/profitnow You don’t have to settle for pitiful profits. Practice owners like Verelle, Peg, and Jeff have used my Profit Planner to gain visibility into their finances and forecast profits. In their own words: “We would’ve been out of business by January…It saved my clinic.” —Verelle, Practice Owner in Ohio"Big win->I'm getting my finances under control!!!!" —Peg, Practice Owner in Connecticut “It made me d

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 your most valuable activities. This exercise can help you gain more time to focus on making your practice more profitable.To see the full video and get your copy of the Profit Leak Audit, go to https://getbreakthrough.com/profitnowP.S. We're a few days away from launching a program exclusively for practice owners looking to increase the profitability of their practice. To be amongst the first to learn the details, sign up at the same link: https://getbreakthrough.com/profitnow

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 startling truth about shrinking PT profits…and what you can do about it. This episode is best watched on video and represents only a short clip of the full video. To watch the complete video and gain first access to the rest of this free training series, go to getbreakthrough.com/profitnowP.S. Keep your eye out for an extra episode this week. "How to Conduct a Profit Leak Audit in Less than 36 Minutes" airs Saturday, October 28th.

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 episode, you'll learn how to conduct a profit leak audit and increase profitability. Discover how to pinpoint where you’re losing money and 4 levers to increase profit. Plus, hear real stories about other practice owners who have successfully increased profit.Interested in the 13-week masterclass, Profitability Under Pressure? Get in before the Early Bird Deadline in early November. Apply here: https://bit.ly/46Coupc

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 for What You Should be WorthThe Happiness SecretThe Money ProblemAssets vs LiabilitiesProdigious Accumulators of Wealth (PAWs) vs Under Accumulators of Wealth (UAWs) Three books influenced Chad’s thinking on this topic: The Millionaire Next Door by Thomas J. Stanley, Increase Your Financial IQ by Robert Kiyosaki, and The Richest Man in Babylon by George Samuel Clason. In a future episode, Chad will share the 5 Financial IQs outlined by Robert Kiyosaki. __________________The private practice physical therapy industry is in turmoil, facing an unprecedented profit crisis. Declining reimbursements, surging business costs fueled by inflatio

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™, the parent company of Chattanooga® and LightForce® Lasers. They discuss the most common barriers to implementing cash-based services and ways to overcome them. They share strategies to attract cash-pay patients and to train and incentivize your staff to sell cash services. Chad and Mark also share the details of a new program for practice owners to increase revenue from cash-based services. SHOW LINKSInterested in increasing revenue from cash-based services? Learn more and schedule your discovery call: https://bit.ly/3rJy0aP

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's daily text messages to patients based on their treatment plan have been effective, with a 90% patient response rate. Steven discusses the outcome study they conducted in Rochester, Minnesota, which showed better outcomes and lower total cost of care for patients who received consistent, automated text communication.In this thought-provoking conversation, Steven Coen provides valuable insights into the future of remote therapeutic monitoring, the challenges faced by clinicians, and his vision for a better healthcare system.SHOW LINKSSara Health: https://sarahealth.io/Sara Health ROI Calculator: https://www.sarahealth.com/pricingContact Steven: steven@sarahealth.com

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 increased to $20.8 million).Learn Chad's planning process for growing and selling his practice. Discover the magic formula for calculating the value of your practice. And hear one practice owner's story of successfully doubling practice value within a year and retiring to their dream beach home. SHOW LINKSProfitability Under Pressure, Chad's 13-Week Masterclass: https://bit.ly/3Ob8XG6

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 sped up in August, and the Consumer Price Index rose another 3.7 percent this year. Meanwhile, CMS has announced more Medicare Cuts as part of the 2024 Physician Fee Schedule Proposed Rule.These challenges are likely to further squeeze profit margins, which are already dangerously slim across our industry. To preserve your profitability, it’s imperative to do 2 things: 1) fill schedules and 2) fill space.In this episode, Chad goes over a foundational marketing concept that you can use to develop your Q4 marketing campaigns and keep your team operating at capacity throughout the winter months. Want to discover 10+ more ways to increase profitability? Fin

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 your practice and for patients. They also highlight the importance of advocacy and provide valuable information on how you can make your voice heard. With the potential impact on practice viability and patient care, it's crucial to understand the implications of these cuts. There are only a couple of days left to comment on the Proposed Rule. The deadline to submit comments is Monday, September 11th. Find more details on submitting comments in the show links below.SHOW LINKSAPTQI Take Action Page (How to Submit Comments to CMS): https://www.aptqi.com/take-action/APTQI Website: www.aptqi.comFollow APTQI on X (Formerly known as Twitter): @allianceptqiLearn more abo