This article is a continuation of my previous article on physical therapy membership programs.
If a program is to work and become successful, it must be explained correctly to patients. Sit the patient across the table and explain the benefits of your cash-for-therapy program. “Mr. Anderson, let me help you understand the benefits of our physical therapy maintenance program. It will help you live a relatively pain free lifestyle, improve function and enhance your ability to perform your activities of daily living. Can I show you the options available to you?”
“Here are the three options we’d like you to choose from. The first program is a two times a week physical therapy program with our leading staff therapist. For a one year commitment, this is just $45 a session. This is an amazing value, and is a total of one hundred and four sessions (52 weeks in a year) and it’s only forty five dollars per session. We also have a three-times-a-week option with your therapist. It’s a total of one hundred and fifty six sessions, and it’s only forty dollars per session. And finally we have our most popular program, four-times-a-week with your therapist. A total of two hundred and eight sessions and it’s only thirty five dollars per session. This provides the absolute best value! Then, hand your patient a rate card with the rates you just mentioned. Wait for a response.
2x week = @ $45 per session
3x week = @ $40 per session
4x week = @ $35 per session
Pause, and wait for them to ask you questions.
If they ask questions, you are close to the sale.
Guide them like an assistant, and give them the resources to make the decision.
The statement that closes the sale is:
“My personal recommendation, Mr. Anderson, is this plan (you recommend one of the plans). It provides you with the best value for money and is best suited for your goals. Which plan would you like to get started on today? Can I count on you to make the right decision for your health and fitness?”
As long as the patient is made to see the value in the program, it’s an easy decision for them. The patient signs an EFT agreement and provides you with their credit card number, and their card is charged monthly for the sessions coming up that month. In the above scenario:
2x week = @ $45 per session = Monthly charge is $360
3x week = @ $40 per session = Monthly charge is $480
4x week = @ $35 per session = Monthly charge is $560
If 10 patients sign up for the 4x week program, the additional revenue for your clinic is well over $70000.
These strategies will set you apart from other clinics almost immediately and enable you to open new centers of communication of profitability.
It’s not as difficult as it seems, and you can get many patients to buy them, as long as you emphasize:
a) The significant value and benefits of the program
b) Expected goals and functional improvements
c) Billing will be ‘monthly’ and not all at once.
d) Financing is an option and that discounts are provided for cash payments.
e) Encourage the patient to view the program as an investment in their future health
When structuring such a program, you would:
a) Ask the patient to pay for the first and last month in advance
b) Schedule them for monthly payments for the rest of the year
c) Offer an incentive to the patient to join right away; a $50 or $100 discount
d) Give the patient the option to cancel by providing you a written notice, usually with a 6 week advance notice. Patients should have the ability to terminate the plan, with advance notice, if they are not satisfied.
e) Think seriously about your market, their earning potential and comfort level when instituting a cancellation fee. In affluent neighborhoods, a cancellation fee works. In less affluent locations, a cancellation fee can be counterproductive.