If you have a physical therapy business, you aren’t only treating your patients. You’re hopefully constantly treating your own physical therapy business model and trying to improve it, making it more efficient, making sure your training and equipment is up to date and making sure you’re constantly increasing your revenue. There are many ways to change your physical therapy business model and grow your PT revenue. For instance…
- You could sell your practice. As in, you could negotiate it so that you remain with the company for a while, drawing a salary. That might be feasible if you’re planning on retiring soon.
- You could buy another PT practice. You’d then have an even bigger PT practice. That would require a large amount of additional capital, depending on the practice, but that may be an option for you.
- You could partner with another PT practice. You would be bigger and theoretically would make more revenue, although you’d share it. Still, if you think you could work well with another PT practice owner, that might feasible.
- Do nothing but hope the best. That isn’t necessarily a bad strategy. If you work harder than ever and keep plugging away, you may end up with a very successful PT practice.