Ep. 178 Patient Dropoff Rate is the Key to Your PT Practice Success with Vikram Sethuraman

On today’s episode of the podcast, I speak with Vikram Sethuraman. He is the Founder and CEO of PT Wired. PT Wired is a patient engagement solution that helps physical therapy clinics prevent patient drop-off, improve brand engagement, and boost internal marketing. Each practice receives a fully-branded mobile app available via iOS, Android, and Web that patients can download to access their Home Exercise Program with videos/notes/reminders, as well as engage with clinic marketing content. Therapists are able to customize patient prescriptions and marketing experiences through the provider portal. As an athlete in college, Vikram felt his recovery was hindered by how he was given his at-home exercises from physical therapy. Receiving a list of exercises on a piece of paper left him thinking if there was an app that had videos of the exercises with the same cues he received from his PT while in office, then his recovery could be optimized. The North Carolina entrepreneurial community really helped foster his idea for starting PT Wired. The initial discovery period Vikram took to understand the needs of the physical therapists was vital to his success. He knew he needed to understand their biggest problems to see if his solution would fit their needs. This is when he began to understand the cycle of patient adherence leading to patient retention. “The probability of selling to an existing customer is 60 to 70 whereas a new customer is 5 to 20 percent”The top four reasons patients don’t complete their exercises at home are:-Low social support -Goal setting -Restructuring misconceptions -Postive affect Wired PT gives physical therapists another avenue for marketing. The app can relieve stress on the front office by allowing scheduling and payments. Part of the marketing process for Wired PT is providing education on the robust features it provides but helping PTs understand it’s more than just videos of exercises.  Vikram offers unique insight into the patient-therapist relationship. You won’t want to miss this interview!“Adherence is the Number One Indicator of Drop-off.”Topics we cover:-The problem of patient drop-off in PT, including contributing factors -Ways to get patients to discharge rather than dropout -Innovative PT marketing strategies through an app -Duke versus North Carolina basketball -Physical Therapy from the patient’s side -Making the switch to entrepreneurship while in college -Understanding the importance of branding -Patient adherence and patient retention -Focusing on customer retention instead of customer acquisition  -Using virtual assistants and remote workers to increase efficiency -Knowing your numbers Connect with Vikram: Websites PT Wired Demo Free E-book: Eliminate Patient Dropout Email Vikram Discount Code: LeBauer Connect with Aaron: Facebook Instagram CashPT Nation Facebook Group