Top 10 Emerging Trends in Physical Therapy Business (and how to take advantage of them)
I foresee some remarkable opportunities and trends for physical therapy business owners in the rest of 2019 and 2020. Here we go:
Private practices that demonstrate their commitment to patient privacy and security of electronic medical records will gain a competitive advantage.
Practices that collaborate with local businesses and physicians to create a win-win referral network will see more patients.
Practices that communicate with patients using multi-mode mechanisms like email, sms, voice and regular mail will gain more loyalty.
#4. Patient Portal Technology
Practices that send information to and receive information from patients in a secure, HIPAA compliant manner will see increased patient engagement.
#5. Financial planning
Practices that have a 12 month financial projections, with a plan on how to get there, will get there.
Practices that offer multiple services, with physical therapy newsletters being the ‘bridge’ connecting them, will survive payer delays / cutbacks.
Practices that become ‘the best’ at one / two / maybe three things will gain an iconic status in the local community.
Practices that become accountable to other practices / consultants / business coaches will always keep improving.
Practices in which every single employee comes to work because they are proud, happy, and believe in your clinical and business philosophies will be unbeatable.
Practices that pay attention to the small details, that respect the patient, offer empathy, and are committed to service in every way possible will be game-changers in the profession.
If you want to learn more about how to take advantage of each of these trends, I go into a lot more detail during the upcoming Private Practice Summit 2019 event in Las Vegas, NV on October 18, 19 and 20.
October 18, 19 and 20 in Las Vegas, NV
Tickets are discounted until midnight on June 17th
We only have a certain amount of tickets available at this price, so act fast.
Have a great week!
Nitin Chhoda PT, DPT
PS – Ideal for owners, clinicians, front desk staff, managers, and billing staff. Click below to learn more about the educational sessions, schedule and hotel information and secure your fast action price before the early bird deadline ends.
• 10+ Speakers
• Discounted Hotel Rooms
• Daily Breakfast