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.
But we think joining Hands-on Diagnostics is, by far, the best way to increase your revenue. Yes, we admit that we’re a little biased.
Still, we think we have a strong argument. Here are a few reasons we think that the best physical therapy business model is to invest in a Hands-on Diagnostics membership.
You Need Help. We Can Provide That.
Don’t we all need a helping hand? The world is getting more complicated by the second, though especially the medical universe, where it’s you against hospitals and doctor’s practices owned by hospitals. Throw in the insurers, and things can really get stressful. But when you’re part of a network, you’re still your own small, scrappy independent business – but one that’s part of a larger system of small, scrappy independent PT practices.
Joining a network is a lot like joining a club. You’re still you. You have your own individual business, but you’re essentially a member of a club with all of the benefits. In this case, HOD offers benefits that can help your business make money. We can help you by showing you how to improve physical therapy patient results – not to mention providing better PT equipment and better insurance billing practices.
We Can Help You Offer More Services and Better Billing Rates.
One of the many reasons to invest in a Hands-on Diagnostics membership is because of the diagnostic testing we provide. The more services you can bill, and the more accurate diagnoses you make, the better the patient outcomes, and the more you can bill the insurers, and the more money you can make.
When your practice, can offer diagnostic tests such as electromyography, to evaluate the integrity of nerves and muscles and musculoskeletal ultrasound imaging to evaluate joints, muscles and nerves, you’re going to find that your physical therapy practice is in a new league altogether.
Generally, when PT practices become a HODs member, their per-patient billings double, and reimbursements from insurance companies often increase by as much as 75%.
We Offer Excellent Industry Recognition.
PT practices tend to not become big branding exercises like, say, a McDonald’s or Jiffy Lube. That said, HOD is in 20 states. We have become extremely well known in PT circles, and name recognition does make a significant difference when it comes to attracting referrals from doctors, nurses and health administrators who know Hands-on Diagnostics.
We hope you’ll get to know us and schedule a free revenue-making strategy call to determine what the best options are to improve your physical therapy business model and how Hands-On Diagnostics can partner with you.