It’s a familiar tale among private-practice physical therapy clinic owners and really anybody who depends on the whims of insurers — you want to know how to grow your business. You’re successful, but you’d like to be more successful. You have patients, but you’d like to have more patients. Your clinic is growing, but the speed of your growth could be measured by a sundial.
How, you wonder, can I grow my business?
You can try a lot of things. You might try marketing more on social media or paying for TV ads. You could merge with an existing physical therapy practice, which may, of course, mean relinquishing a lot of control. Maybe you should simply update your lobby with a new fresh coat of paint if it has seen better days.
But we think we can make a strong case for turning your private practice into a franchise — a HODS Approved Diagnostics Center.
Unlike many franchises, your private practice will still retain its name. You won’t lose anything, but you stand to gain everything. If your private practice is called Sally’s Private Practice Physical Therapy Clinic, it’ll still be called Sally’s Private Practice Physical Therapy Clinic. But it’ll be Sally’s Private Practice Physical Therapy Clinic, a HODS Approved Diagnostic Center.
And so, what does being a HODS Approved Diagnostics Center mean? And how will that make your business grow?
In several ways.
You’ll Have Stronger Brand Equity.
People may know about your private practice physical therapy clinic and think well of it, but you probably don’t have national name recognition, and why should you? Meanwhile, HODS is well known, at least among doctors and healthcare staff, around the country. Aligning yourself with a respected national brand is only going to make physicians and nurses, and the professionals who refer patients to you, think even more highly of your private practice.
Additionally, as HODS becomes a bigger name and continues marketing itself, your own private practice’s brand equity will only grow.
You’ll Have More Services.
Not just more services, but more importantly, better services that insurers will pay more for. You will be offering diagnostic testing for your patients, which means that you’ll be providing more accurate diagnoses.
For instance, you’ll be able to offer your patients a musculoskeletal ultrasound. Using a hand-held scanning device called a transducer and a gel placed directly on the skin, silent, high-frequency sound waves travel through the patient’s body, and soon you’ll have pictures of muscles, tendons, and other structures.
You’ll offer videonystagmography (VNG) testing, a test that generally lasts about two hours and involves an infrared video camera attached to a pair of goggles, testing the inner ear (by recording eye movements) and parts of the brain.
You’ll be able to give your patients somatosensory evoked potential (SSEP) tests to examine the nerve pathway from the peripheral nerve through the spine to the somatosensory region of the brain.
We could go on, but the point is — with your physical therapy patient results, you’ll be able to take your private practice to another level entirely.
Insurers know that diagnostic testing offers more precise results, which is why Hands-On Diagnostics franchises generally bill around $550 per diagnostic session — instead of the $70 to $100 per session that a typical PT practice will bill for. In fact, many PTs earn five to 10 times more than they brought in with their old practices.
It’s also important to remember that because of your new and better services, you’ll have better outcomes, leading to patients sticking with their programs longer and being able to bill insurers for longer. And because of better and additional services, your private practice will be stronger and more resistant to competition. So, there is a lot of good that will come from having additional and improved services.
You’ll Have Access to HODS Proprietary Information.
Why is this important? Because we have a system that will allow your staff to bill insurers properly.
As you know, billing insurance can be a migraine shared among the entire staff. It can be very challenging making sense of CPT, HCPCS codes, and ICD-10 codes, and if your office is consistently billing insurers improperly, you’re constantly losing money.
And it becomes very hard to grow one’s business when you’re losing money.
So, if you have a private practice physical therapy clinic, and you want it to grow and do better, and you want to be more successful, we hope you’ll contact HODS. If, after talking to us, you somehow aren’t convinced, well, no harm done. But we think you’ll quickly come to realize, just as many private practice physical therapists across the country have, that becoming a HODS Approved Diagnostics Center is the easiest and best way to grow your business fast — and will lead to the best outcomes for the PT and patient alike.