Hello Sir, your video is very informative. I would like to know if you can provide some information/education regarding second generation physical therapy space. If a physical therapy clinic of a franchise closed, should a PT be looking into that space for their own private practice (that is not a chain or franchise)? Other than looking into the reasons why the clinic closed, any other issues that should be noted? Thank you.
Great video! You mentioned for the conceriage PT you could spend 20k on marketing and be more profitable then buying the practice for 45k…. What major marketing avenues are you referring too? Thank you! Your videos are so helpful :)
Hi Tony. It depends on your target demographic. Obviously you have the classic FB and Google ads, but I like focusing on the referral source instead of direct to consumer marketing. Paying a local surgeon to join you for workshops is a great way to build a relationship with that surgeon. You might pick up a couple referrals from the workshop but the real value is in the relationship built and value created with the surgeon. Same goes for hosting panel discussions with local experts who could also be referral sources. I would spend money on a website and local SEO, etc.
Did you figure this out? My wife just opened her own practice. It's been a month, and she is struggling to get anyone to make appointments, not one person has called. She's marketing and dropping off business cards. I feel so bad I want to help
What about buying a franchise from a retiring owner? I plan on opening another clinic with the franchise in a town 40 minutes away a little while after.
You have to remember, it is in the insurance payer's best interest to have enough therapists but not too many. The smaller the number of therapists the lower the negotiated rate because the higher the potential volume of patients per therapist.
Hello Sir, this is timely info. I’m here in Georgia and have just begun searching for a pt clinic to buy. My colleague on today just told me he’s done 2 startups for big chains, each could require maybe as little as $50,000 initial investment. The staff consisted of himself and a front desk person. He had to approach mds and let them know they were new and doing business. Within 18 months they were grossing $400,000 +/year. So I’m guessing the parent company had insurance contracts already, however. On another note, is it feasible to take only workman’s comp and auto insurance patients?
Sorry for the slow response. YES! There are some great clinics and national chains that only do worker's comp and personal injury cases. The reimbursement can be double or even triple Medicare or Medicare reimbursement. I believe this is a wildly underserved niche and primarily dominated by chiropractic care providers. It does take networking with some attorneys instead of physicians, and you need someone who understands how the systems work, but it can be extremely lucrative for a therapy provider.
I never knew you can be an only workers comp or PI clinic. I thought you can’t say no to Medicare? Would love to hear more on this. Thanks for all the content you provide :)!
Hello Sir, your video is very informative. I would like to know if you can provide some information/education regarding second generation physical therapy space. If a physical therapy clinic of a franchise closed, should a PT be looking into that space for their own private practice (that is not a chain or franchise)? Other than looking into the reasons why the clinic closed, any other issues that should be noted? Thank you.
Great video! You mentioned for the conceriage PT you could spend 20k on marketing and be more profitable then buying the practice for 45k…. What major marketing avenues are you referring too? Thank you! Your videos are so helpful :)
Hi Tony. It depends on your target demographic. Obviously you have the classic FB and Google ads, but I like focusing on the referral source instead of direct to consumer marketing.
Paying a local surgeon to join you for workshops is a great way to build a relationship with that surgeon. You might pick up a couple referrals from the workshop but the real value is in the relationship built and value created with the surgeon.
Same goes for hosting panel discussions with local experts who could also be referral sources. I would spend money on a website and local SEO, etc.
@@LearnMedicareBilling Thank you for the thorough response!
What is the amazing marketing campaign that you would use?
how do I get patients when I first get started ?
Did you figure this out? My wife just opened her own practice. It's been a month, and she is struggling to get anyone to make appointments, not one person has called. She's marketing and dropping off business cards. I feel so bad I want to help
Hi, does one have to be a PT to own a PT clinic? Can a non-PT own and operate?
What about buying a franchise from a retiring owner? I plan on opening another clinic with the franchise in a town 40 minutes away a little while after.
Very informative video
Glad you liked it
It has been feeling like All the panels, for the most part, are closed! At least in California…
You have to remember, it is in the insurance payer's best interest to have enough therapists but not too many. The smaller the number of therapists the lower the negotiated rate because the higher the potential volume of patients per therapist.
Woops I bought one >.
Hello Sir, this is timely info. I’m here in Georgia and have just begun searching for a pt clinic to buy. My colleague on today just told me he’s done 2 startups for big chains, each could require maybe as little as $50,000 initial investment. The staff consisted of himself and a front desk person. He had to approach mds and let them know they were new and doing business. Within 18 months they were grossing $400,000 +/year. So I’m guessing the parent company had insurance contracts already, however. On another note, is it feasible to take only workman’s comp and auto insurance patients?
Sorry for the slow response. YES! There are some great clinics and national chains that only do worker's comp and personal injury cases. The reimbursement can be double or even triple Medicare or Medicare reimbursement.
I believe this is a wildly underserved niche and primarily dominated by chiropractic care providers.
It does take networking with some attorneys instead of physicians, and you need someone who understands how the systems work, but it can be extremely lucrative for a therapy provider.
I never knew you can be an only workers comp or PI clinic. I thought you can’t say no to Medicare? Would love to hear more on this. Thanks for all the content you provide :)!
Hello, quick question, can anyone buy a PT therapy practice in California or do you need to be a licensed physical therapist?
U think 4500 for 1450 is$$$ ur not from Cali r u
Haha, true! Not in NY either.