Grow Your Practice Podcast

In this episode of the Grow Your Practice Podcast, host Chad Madden, owner of Madden Physical Therapy and Breakthrough, discusses the single biggest pitfall in branding for private practices. Chad explores the history and evolution of branding and its place under the marketing umbrella. He emphasizes the importance of direct response marketing over traditional branding and provides practical examples, including the use of informational content to engage potential patients. Additionally, Chad introduces the Profitability Under Pressure program designed to help practice owners increase revenue and improve their financial systems.

Are you a practice owner who would like to join these live calls?

Register here: https://info.getbreakthrough.com/gyp-weekly-call-wbn

If you find this episode helpful, we have the 'Profitability Under Pressure' program, a 13-week course with insights into improving time management, managing payer mix, enhancing patient lifetime value, and more. Success stories from various practice owners who implemented these strategies are shared, highlighting significant growth and financial stability achieved.

To learn more and apply for Profitability Under Pressure, visit: https://hubs.la/Q02H_3Sl0

00:00 Introduction to the Podcast

00:19 Understanding Branding in Marketing

03:25 Historical Context of Branding

06:51 Pitfalls of Branding in Private Practice

07:58 Introduction to Direct Response Marketing

08:27 Profitability Under Pressure Program

11:30 Effective Direct Response Marketing Strategies

17:41 Survey Insights and Behavioral Psychology

19:01 Conclusion and Final Thoughts

Top 3 Marketing Mistakes Private Practice Owners Make | Grow Your Practice Podcast

Join Chad Madden, owner of Madden Physical Therapy and Breakthrough, as he discusses the three biggest marketing mistakes private practice owners make. This episode dives into the critical aspects of marketing, including market-message-media alignment, focusing on the patient's needs rather than self-promotion, and understanding the required effort and resources for successful marketing. The episode also covers effective patient acquisition strategies and introduces the Profitability Under Pressure program designed to enhance revenue and profit margins for private practices.

Are you a practice owner who would like to join these live calls?

Register here: https://info.getbreakthrough.com/gyp-weekly-call-wbn

If you find this episode helpful, we have the 'Profitability Under Pressure' program, a 13-week course with insights into improving time management, managing payer mix, enhancing patient lifetime value, and more. Success stories from various practice owners who implemented these strategies are shared, highlighting significant growth and financial stability achieved.

To learn more and apply for Profitability Under Pressure, visit: https://hubs.la/Q02H_3Sl0

00:00 Introduction to the Podcast

00:24 Understanding Marketing in Private Practice

02:13 The Market Message Media Match

07:44 Common Mistakes in Messaging

13:13 Effort and Investment in Marketing

17:47 Q&A and Final Thoughts

19:01 Conclusion and Next Steps

In this episode of the Grow Your Practice podcast, host Chad Madden, owner of Madden Physical Therapy and Breakthrough, delves into creating a plan for profitability in private practice. Madden explains the concept of the 'flywheel' for continuous growth and draws parallels to Amazon's success. He details the steps clinicians can take to diagnose and treat patients efficiently, and similarly, how these practices can be applied for financial planning in a private practice. Key topics include conducting profit audits, creating profit plans using tools like pro forma, and implementing strategic 'profit levers' to increase revenue per visit. Madden also shares insights from his personal journey of opening multiple clinics and purchasing commercial real estate. The episode concludes with a Q&A session where listeners ask about marketing tactics, filling schedules, and maintaining profit margins.

Are you a practice owner who would like to join these live calls?

Register here: https://info.getbreakthrough.com/gyp-weekly-call-wbn

If you find this episode helpful, we have the 'Profitability Under Pressure' program, a 13-week course with insights into improving time management, managing payer mix, enhancing patient lifetime value, and more. Success stories from various practice owners who implemented these strategies are shared, highlighting significant growth and financial stability achieved.

To learn more and apply for Profitability Under Pressure, visit: https://hubs.la/Q02H_3Sl0

00:00 Introduction to the Podcast

00:19 Creating a Plan for Profitability

00:35 Understanding the Flywheel Concept

01:28 Clinical Application of the Flywheel

03:02 Steps to Increase Revenue and Profitability

03:08 The Importance of a Pro Forma

04:14 Real-Life Example: Buying a Building

06:18 Using Pro Forma for Business Growth

07:04 Training Clinical Directors with Pro Forma

08:36 Common Pitfalls and Misunderstandings

11:18 Strategies to Improve Profitability

13:50 Five Use Cases for Pro Forma

22:54 Q&A Session

34:53 Conclusion and Final Thoughts

Join Chad Madden in this episode of 'Grow Your Practice' as he dives into strategies to identify where you're losing money and boost your practice's profitability. From personal stories and real-world examples, learn how to audit at a granular level, discover hidden pitfalls, and leverage the Profit Leak Audit. Explore how understanding detailed metrics instead of just surface numbers can transform your practice. Plus, learn about the Profitability Under Pressure program designed to help practice owners thrive even in challenging economic times. Tune in for actionable insights and proven methods that have helped many practice owners increase their revenue.

Are you a practice owner who would like to join these live calls?

Register here: https://info.getbreakthrough.com/gyp-weekly-call-wbn

If you find this episode helpful, we have the 'Profitability Under Pressure' program, a 13-week course with insights into improving time management, managing payer mix, enhancing patient lifetime value, and more. Success stories from various practice owners who implemented these strategies are shared, highlighting significant growth and financial stability achieved.

To learn more and apply for Profitability Under Pressure, visit: https://hubs.la/Q02H_3Sl0

00:00 Introduction to the Podcast

00:21 Identifying Revenue Losses

01:08 The Importance of Metrics

01:54 Granular Analysis in Practice

03:48 Auditing for Improvement

05:18 Real-Life Examples of Auditing

06:16 Addressing Clinician Performance

08:04 Handling Documentation Issues

09:32 Discovering Billing Errors

11:13 Theft and Financial Mismanagement

14:49 Positive Outcomes from Auditing

15:03 Profitability Under Pressure Program

24:40 Success Stories and Testimonials

30:21 Conclusion and Final Thoughts

Join Chad Madden, owner of Madden Physical Therapy and Breakthrough, in this episode of the Grow Your Practice Podcast. Chad discusses setting clear goals for your practice and overcoming common challenges faced by practice owners. Featuring insights from practice owners John and Eric, Chad walks through a powerful exercise to help you envision your ideal practice. This episode also introduces the 'Profitability Under Pressure' program, a masterclass designed to help private practice owners build financial stability and increase revenue.

Are you a practice owner who would like to join these live calls?

Register here: https://info.getbreakthrough.com/gyp-weekly-call-wbn

If you find this episode helpful, we have the 'Profitability Under Pressure' program, a 13-week course with insights into improving time management, managing payer mix, enhancing patient lifetime value, and more. Success stories from various practice owners who implemented these strategies are shared, highlighting significant growth and financial stability achieved.

To learn more and apply for Profitability Under Pressure, visit: https://hubs.la/Q02H_3Sl0

00:00 Introduction to the Podcast

00:19 Understanding Practice Goals

01:08 Personal Goals and Aspirations

03:44 Financial and Operational Challenges

06:26 Creating a Vision for Your Practice

10:36 Team and Staff Development

16:06 Marketing and Community Impact

17:18 The Power of Clear Goals

24:22 Conclusion and Upcoming Events

Join Chad Madden, owner of Madden Physical Therapy and Breakthrough, in this episode of the Grow Your Practice Podcast. Chad discusses the biggest barrier in private practice, limiting beliefs, and shares a personal story of how overcoming these beliefs helped his practice thrive. Learn a three-step process to identify and conquer your own limiting beliefs, and hear inspiring stories from other practice owners. Plus, get insights into writing effective job ads and details about the Profitability Under Pressure program to boost your practice’s financial health. Don't miss the next episode on envisioning your perfect practice!

Are you a practice owner who would like to join these live calls?

Register here: https://info.getbreakthrough.com/gyp-weekly-call-wbn

If you find this episode helpful, we have the 'Profitability Under Pressure' program, a 13-week course with insights into improving time management, managing payer mix, enhancing patient lifetime value, and more. Success stories from various practice owners who implemented these strategies are shared, highlighting significant growth and financial stability achieved.

To learn more and apply for Profitability Under Pressure, visit: https://hubs.la/Q02H_3Sl0

00:00 Introduction to the Podcast

00:19 The Biggest Barrier in Private Practice

01:30 Understanding Limiting Beliefs

02:10 Personal Experiences with Limiting Beliefs

03:12 Examples of Limiting Beliefs

05:34 Three-Step Process to Overcome Limiting Beliefs

10:47 Real-Life Applications and Success Stories

12:45 Upcoming Topics and Course Promotion

15:46 Q&A Session on Limiting Beliefs

23:58 Conclusion and Next Week's Topic

In this episode of the Grow Your Practice podcast, host Chad Madden welcomes special guests Stacy Hicks, owner of Carlisle Place, and Erin Langmaid, head of marketing. Stacy shares her journey from becoming a physical therapist to opening Carlisle Place in rural New Hampshire, discussing the challenges and rewards of running a private practice. Erin elaborates on their marketing strategies, transitioning from traditional to social media advertising, and the impact of workshops on community engagement. The episode also highlights the importance of creating strong patient-therapist relationships and managing practice profitability through both innovative and traditional measures.

Stacey and Erin are ‘Profitability Under Pressure’ course customers, which aims to help clinic owners increase revenue, effectively use space, and improve team hiring and retention. Join us in achieving your PT practice owner goals! Apply here: https://hubs.la/Q02H_3Sl0

00:00 Introduction to the Podcast

00:22 Meet Our Guests: Stacy Hicks and Aaron Langmaid

00:49 Stacy’s Journey to Private Practice Ownership

02:23 Challenges and Rewards of Running a Private Practice

03:20 Aaron’s Role in Marketing

04:10 Marketing Strategies and Community Engagement

14:55 Impact of Workshops and Word of Mouth

17:23 Final Thoughts and Book Recommendations

19:26 Upcoming Workshops and Closing Remarks

In this episode of the Grow Your Practice podcast, host Chad Madden, owner of Madden Physical Therapy and Breakthrough, discusses how to effectively manage and strategize around Medicare cuts that impact revenue for private practices. Chad dives into the macroeconomic factors influencing healthcare costs, shares a personal story about navigating the healthcare system, and introduces a six-step flywheel process for practice owners to audit, plan, strategize, implement, measure, and repeat strategies to stay profitable. He also discusses the importance of targeting younger demographics, improving payer mix, and marketing effectiveness. Additionally, the episode highlights the 'Profitability Under Pressure' program, which provides a comprehensive system to help practice owners increase their profit margins amidst declining reimbursements.

If you find this episode helpful, we have the 'Profitability Under Pressure' program, a 13-week course with insights into improving time management, managing payer mix, enhancing patient lifetime value, and more. Success stories from various practice owners who implemented these strategies are shared, highlighting significant growth and financial stability achieved.

To learn more and apply for Profitability Under Pressure, visit: https://hubs.la/Q02H_3Sl0

00:00 Introduction to the Podcast

00:19 The Impact of Medicare Cuts

03:15 Personal Story: Navigating the Healthcare System

06:30 Strategies to Mitigate Revenue Loss

09:42 Marketing and Profit Levers

10:47 Pelvic Floor Program Success

13:56 Profitability Under Pressure Program

21:37 Final Thoughts and Advocacy

25:43 Conclusion and Farewell

In this episode of 'Grow Your Practice Podcast,' host Chad Madden, owner of Madden Physical Therapy and Breakthrough, delves into setting up an effective marketing budget for private practices. Chad outlines a rule of allocating 10% of gross revenue towards marketing, discussing how this evolved over time and its implications for growth. He breaks down the different avenues for attracting new patients, from cold traffic marketing to reactivations, and shares insights on tracking ROI and optimizing marketing expenditures. Tune in for actionable tips, principles, and strategies to help your private practice thrive.

If you find this episode helpful, we have the 'Profitability Under Pressure' program, a 13-week course with insights into improving time management, managing payer mix, enhancing patient lifetime value, and more. Success stories from various practice owners who implemented these strategies are shared, highlighting significant growth and financial stability achieved.

To learn more and apply for Profitability Under Pressure, visit: https://hubs.la/Q02H_3Sl0

00:00 Introduction to the Podcast

00:19 Setting Up a Marketing Budget

00:45 The 10% Rule for Marketing Budgets

02:42 Historical Context and Evolution of Marketing in PT

03:16 Breakdown of Marketing Budget Allocation

06:05 Cold Traffic Marketing Strategies

06:08 Case Study: Shrewsbury Clinic

21:35 Tracking ROI and Attribution Challenges

26:39 Effective Patient Outreach Strategies

29:53 Conclusion and Final Thoughts

In this episode of the Grow Your Practice podcast, host Chad Madden discusses common challenges faced by private practice owners, particularly the feeling of wearing too many hats and juggling numerous responsibilities. Chad shares effective systems and strategies for prioritizing tasks and delegating less valuable activities to free up time for more critical functions, such as team building and process improvement. The episode includes practical exercises on listing out weekly activities and assigning dollar values to them, helping owners focus on high-leverage tasks to enhance the overall growth and profitability of their practice. The discussion touches on various operational aspects like marketing, billing, and team management, providing actionable insights to help owners streamline their practice management and regain control of their time.

If you find this episode helpful, we have the 'Profitability Under Pressure' program, a 13-week course with insights into improving time management, managing payer mix, enhancing patient lifetime value, and more. Success stories from various practice owners who implemented these strategies are shared, highlighting significant growth and financial stability achieved.

To learn more and apply for Profitability Under Pressure, visit: https://hubs.la/Q02H_3Sl0

00:00 Introduction to the Podcast

00:19 The Challenge of Wearing Too Many Hats

00:42 Prioritization Systems for Practice Owners

02:38 The Importance of Processes and Systems

02:57 Detailed Example: Clinician's Workflow

04:46 Applying Systems to Business Operations

05:58 Exercise: Identifying and Valuing Tasks

13:26 Profitability Under Pressure Course Introduction

15:21 Valuing Your Time and Delegating Tasks

24:18 Final Thoughts and Next Steps