Most practice owners don’t have a written business plan and written budgets. They may be looking at numbers but they don’t concretely set targets like they do for the patients that they treat. Chuck Felder of HCS Consulting says it’s important to create business plans and budgets to keep you and your team rowing in the same direction, having that alignment, teamwork, and cooperative mindset. How can they make decisions and focus their time if they don’t know what the goals of the company are and how they fit into it? Simple plans and goals keep you unified and maintaining proper budgets gives you the power to actually predict your profits in the future. Who wouldn’t want that? Take the time to monitor and follow these three things on a regular basis – KPIs, business plan, and budget – and you’re on your way to maintaining a healthy, successful business.

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What does your dashboard look like? Not in your car, in your business. KPIs or key performance indicators are the dashboard to tell you how your business is running. Chuck Felder of HCS Consulting breaks down the key metrics for running your clinic and discusses the importance of tracking and monitoring those. Chuck has used his PT and MBA degrees to become an expert in PT business metrics, and shares his wealth of knowledge with us. Compare yours to his or start building and monitoring your own dashboard as Chuck dishes out some great information to share regarding how to manage PT clinics and how to create a strategic plan around how they’re operating.

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Not a lot of PT clinic owners are focused on what it takes to create a business that is less dependent upon them as owners. Oftentimes, systems and training, coaching, mentoring, or other accountability methods in order to keep PT clinics in check can be overlooked in the midst of the daily hustle and bustle. Here to share his expertise is Sturdy McKee. Sturdy has built a strong, thriving out-of-network PT business in San Francisco that is not completely dependent on him. There was a time that he couldn’t conceptualize that, but it’s what some PT owners dream of. Even if that’s not you, Sturdy has great advice on how to make your business less dependent on you, the owner. His professional growth and the systems he’s implemented have allowed him the time to coach other PTs and business owners. In fact, if you check out his website, www.sturdymckee.com, you’ll see that he shares some great advice – “Hiring A-players”, “New Awesome Intake Form”, “The 3 Magic Questions”, etc. These resources can help you on your path to making your business less dependent on you.

What’s the secret to creating a loyal, returning patients? Hint: It’s not all about the therapy! It’s about the patient experience BEFORE, during, and AFTER they’ve received your care. Neil Trickett, PT and Founder/CEO of Practice Promotions shares the secrets to creating RAVING SUPERFANS. When you create raving superfans then the domino effect begins – patients complete their plans of care and are HAPPY to pay for your services, they return to you when they’re injured or, better yet, they refer family and friends AND PROMOTE YOU TO THEIR DOCTORS, then those patients pay for your services, you grow your foundational patient base, gain a good rep in the community, you build a steady, increasing base of revenue, increase your mailing/emailing list, and the cycle continues!!!! It gets exciting and PTs across the country are thriving this way. Listen to the podcast and you’ll gain insight on what you can do to create the RAVING SUPERFAN.

Jerry Henderson got into physical therapy the same way a lot of physical therapists did, as a patient. Jerry was fourteen years old when he had a skiing accident that fractured his femur and left him hooked on a skeletal traction for about a month and a hip spike for about six weeks. After going through the treatment with a guy who was helping him get mobile again, he understood what physical therapy is all about and knew that’s what he wanted to do. Fast forward years later, Jerry founded Clinicient, a cloud-based EMR software for physical therapy clinics. Clinicient helps their clients on getting up to date on the changes that are coming in the PT space so that they can continue to improve more lives.

A lot of physical therapists don’t consider what it takes to be great businessman or businesswoman and invest the time and energy into that like they did to become good physical therapists. Blaine Stimac is one of the more successful PT owners who has 23 practices across four states and is ranked #255 on the Inc. 5000 list. Blaine’s success is closely related to the systematic way in which he hires and trains his team. Blaine shares that at a minimum, trainings can take up to six to eight weeks, with follow up trainings after that, to create amazing, productive employees right off the bat or weed people out really quickly who are not the right fit. Blaine says growing a business is about the willingness to learn from each one of those times you didn’t do great. You’ve got to be willing to embrace every moment as a learning opportunity.

Dr. Dimitrios Kostopoulos passion for physical therapy is obvious, and his vision is unique and outside-the-box. He has a number of PT businesses and is successful in each one of them, thus he has a unique perspective on the state of physical therapy and the issues negatively impacting PT clinic owners and the profession today. However, he also has the answers to the three issues he presents. Following thru on each of those items will put you on a path to freedom, but if you don’t take the time to study, implement, and do the administrative footwork necessary to run your business, you won’t make it. Dr. Kostopoulos shares that that knowledge on the subject provides a greater responsibility in the area that you are learning something about, and knowledge, responsibility, and control always go together.

Vinod is one of my favorite PT friends – he’s determined, focused, and gets what he wants, which shows in his ability to live in Florida while actively owning his PT practices in New York. He’s the epitome of what we strive for and tout in the Physical Therapy Owners Club. Success? Check. Stability? Check. Freedom? Double check. Having an uncle who is a vascular surgeon that did very well for himself in having his own practice and having the skill set on a physical therapy technique that he felt could create a big impact pushed Vinod Somareddy to exceed himself and be successful as a private practice owner. After listening to the episode, you’ll see what I’m talking about. He ramped up his clinic quickly with the guidance of Measurable Solutions (now Fortis Business Solutions) and learned along the way how to organize his company, hire the right people, and manage by statistics to ensure his company is reaching its goals. Check out his path and what he’s learned along the way by joining the club today.

Shaun Kirk, PT has been consulting physical therapy owners for longer than he’s been a physical therapist. This episode is a must-listen and my interview with Shaun Kirk is one that should be downloaded and replayed by every PT clinic owner and reviewed on a regular basis. Shaun shares from his experience of walking into over 140 clinics across the country to consult them, and having over 2000 PT owners walk through his doors to get trained. He knows his stuff and how to make a PT clinic successful. Shaun says that every PT owner should ask these two vital questions, which is what is your purpose, and what are the six areas every PT owner needs to address in their clinic? He says diligently working on your purpose and one to two of the key areas he notes will immediately pay dividends, but being successful and efficient in all six areas is going to guarantee success with your physical therapy practice.

Sean Miller believes that we all have the ability to essentially win in life, if we just understand the abilities and processes to be able to win in life. He says that there are successful formulas and things that we can do to be able to win. Growing up as a kid, Sean liked to take things apart to understand how they work. As he got older, he got into sports which drew his natural inclination on understanding how the body works, which started his journey into physical therapy and helped him develop physical therapy processes to get people better faster.