PT Pintcast - Physical Therapy

Kevin Mercier: 7- Tips to Explode Profits Selling a Physical Therapy Practice

Kevin Mercier is the Director of Strategic Development for FYZICAL Therapy & Balance Centers. Kevin believes your business is your vehicle to get what you want out of life. 

Business owners should maximize the value of their practice by developing a wealthy exit strategy. 

Kevin discusses how to develop an exit strategy for the physical therapy private practice owner. The biggest metric a buyer is going to look at is your EBITDA or earnings before interest, taxes, depreciation, and amortization. Timing is everything when you’re looking to exit from not only the state of the world but the state of the industry. As a seller, the most important thing you need to do is see what’s out there and get the most value for your business aside from who the buyer may be. 

Episode Takeaways 

• Planning a wealthy exit from PT private practice
• Know your starting and landing point
• What to expect when selling your practice
• Important metrics buyers are looking at
• How to attract potential buyers
• What your practice is worth - size, location, buyer demand 

Three Questions  

• Where would you go within the 50 US States and live for 3 months? Saluda, NC
• What is something you’ve watched, listened to, or read what really inspired you? Book Stillness is the Key by Ryan Holiday
• Who is someone the audience should know more about? John Cena

Parting Shot

“It’s important to remember why you got into the business. You wanted to help people just like Jim Cook loved beer and wanted to start a beer company. PTs do amazing things for people every day. There’s a cool saying - “Yesterday’s history. Tomorrow is a mystery. Today is a gift and that’s why they call it the present.” - Kevin Mercier 

Connect with Kevin Mercier and FYZICAL Therapy & Balance Centers

• Kevin Mercier & FYZICAL on Twitter
• Facebook
• Website, Franchise 

Thank you to our sponsors!

Practice Freedom U - For PT Owners who want to Treat Less, Earn More, and create the business you’ve always dreamed of. Take the Practice Quiz now to see where you stack up

The Academy of Orthopaedic Physical Therapy – Take a peek at their Current Concepts of Orthopaedic PT 

FYZICAL Therapy and Balance Centers were created by PTs especially for PTs in private practice. On average, a private practice that joins the FYZICAL network grows more than 40%.

So, if you’re ready to discover how the largest network of PT private practice owners are growing and adapting to industry changes, visit fyzicalfranchise.com.

CBDRX4U.com – YOUR CBD Store. Get the ABC’s of CBD at CBDRX4u.com. 

Those One-size-fits-all EMRs suck and waste your time.

It’s time for something better.

It’s time for something customizable.

Enter MWTherapy, take a demo now at MWTherapy.com where switching your EMR is easy!

Owens Recovery Science – A single course for clinicians who want certification in Personalized Blood Flow Restriction Rehabilitation and the equipment YOU Need to apply it properly In your clinical practice. Find out where you can get certified next at owensrecoveryscience.com. 

Sandy Arthur is a doctor of chiropractic and artist who combined her background in the arts and her love for anatomy to create SandySpines selling art prints as a student and now a chiropractor. Sandy enjoys using art to better her practice. 

Social Media

IG: @sandyspines

Website: https://www.sandyspines.com/ 

Inside PT HOT SEAT:

F Scott Feil is a physical therapist, professor, student loan and business coach and author. His goal is to help at least 222 healthcare clinicians and professors to pay off their student loans quicker and more efficiently. 

Social Media 

Twitter: @PTEducator

IG: @PTEducator

Website: www.pteducator.com , www.businesscoachingeducator.com 

Book: PT Educator's Student Debt Eliminator

Podcast: HET Podcast - Healthcare Education Transformation 

Practice Freedom U…For PT Owners who want to Treat Less and Earn More. — And create the business you’ve always dreamed of. 

Take the Practice Quiz now to see where you stack up 

The Academy of Orthopaedic Physical Therapy - Take a peek at their Current Concepts of Orthopaedic PT here: https://www.orthopt.org/course/31-2-current-concepts-of-physical-therapy-5th-edition

FYZICAL Therapy and Balance Centers were created by PTs, especially for PTs in private practice!

On average, a private practice that joins the FYZICAL network grows more than 40%!

So, if you’re ready to discover how the largest network of PT private practice owners are growing and adapting to industry changes, visit FYZICAL franchise .com

THAT’S FYZICAL FRANCHISE.COM

CBD RX 4 U .com - YOUR CBD Store - get the ABC’s of CBD at CBDRX4u.com

Those One-size-fits-all EMRs suck and waste your time.

It’s time for something better. 

It’s time for something customizable. 

Enter MWTherapy, take a demo now at MWTherapy.com where switching your EMR is easy!

Owens Recovery Science - A single course for clinicians who want certification in Personalized Blood Flow Restriction Rehabilitation and the equipment YOU Need to apply it properly In your clinical practice.

Find out where you can get certified NEXT at OWENSRECOVERYSCIENCE.com

Jimmy goes on a little rant about why YOU need to STEP UP for your profession, and not leave a dead raccoon in the middle of the road.

Aaron comes by to talk ptbizcon an online event that shows you the Systems, Secrets, & Strategies That Will Take Your Physical Therapy Business to Massive Success

We talk speakers, why he was doing the event (again), and then got into some topics that have been bothering Jimmy.

Thanks to our sponsors for keeping us on the air (or internet, whatever)

Practice Freedom U…For PT Owners who want to Treat Less and Earn More. — And create the business you’ve always dreamed of. 

Take the Practice Quiz now to see where you stack up

The Academy of Orthopaedic Physical Therapy - Take a peek at their Current Concepts of Orthopaedic PT here: https://www.orthopt.org/course/31-2-current-concepts-of-physical-therapy-5th-edition

FYZICAL Therapy and Balance Centers were created by PTs especially for PTs in private practice!

On average, a private practice that joins the FYZICAL network grows more than 40%!

So, if you’re ready to discover how the largest network of PT private practice owners are growing and adapting to industry changes, visit FYZICAL franchise .com

THAT’S FYZICALFRANCHISE.COM

CBD RX 4 U .com - YOUR CBD Store - get the ABC’s of CBD at CBDRX4u.com

Those One-size-fits-all EMRs suck and waste your time.

It’s time for something better. 

It’s time for something customizable. 

Enter MWTherapy, take a demo now at MWTherapy.com where switching your EMR is easy!

Owens Recovery Science - A single course for clinicians who want certification in Personalized Blood Flow Restriction Rehabilitation and the equipment YOU Need to apply it properly In your clinical practice.

Find out where you can get certified NEXT at OWENSRECOVERYSCIENCE.com

I got fired up after seeing a clickbait article titled, "Why Sitting Down Can Kill You, and How To Cure Your Backpain for Good."

I decided to rant about it on a Saturday morning. We ripped on them a little bit but then used it as a learning opportunity on how to use attention for good!

We talk with Jamey Schrier from Practice Freedom U

We got into the latest things in our lives that can teach YOU how to get past business and communications problems in your business LIVE from CSM 2022 San Antonio.

Practice Freedom U…For PT Owners who want to Treat Less and Earn More. — And create the business you’ve always dreamed of. 

Take the Practice Quiz now to see where you stack up here: https://shrtlnk.co/oXrPY

The Academy of Orthopaedic Physical Therapy - Take a peed at their Current Concepts of Orthopaedic PT here: https://www.orthopt.org/course/31-2-current-concepts-of-physical-therapy-5th-edition

FYZICAL Therapy and Balance Centers were created by PTs especially for PTs in private practice!

On average, a private practice that joins the FYZICAL network grows more than 40%!

So, if you’re ready to discover how the largest network of PT private practice owners are growing and adapting to industry changes, visit FYZICAL franchise .com

THAT’S FYZICAL FRANCHISE.COM

CBD RX 4 U .com - YOUR CBD Store - get the ABC’s of CBD at CBDRX4u.com

Those One-size-fits-all EMRs suck and waste your time.

It’s time for something better. 

It’s time for something customizable. 

Enter MWTherapy, take a demo now at MWTherapy.com where switching your EMR is easy!

Owens Recovery Science - A single course for clinicians who want certification in Personalized Blood Flow Restriction Rehabilitation and the equipment YOU Need to apply it properly In your clinical practice.

Find out where you can get certified NEXT at www.OWENSRECOVERYSCIENCE.com

Our panel - Ellen Hillegass, Kathleeen Lukaszewicz, and Michael Puthoff - physical therapists and educators on everything cardiopulmonary here to discuss the new Venous Thromboembolism Guidelines. 

Bio

Ellen Hillegass - the queen of cardiopulmonary education and service. Physical therapist, educator and author of entry-level text entitled Essentials of Cardiopulmonary Physical Therapy for PTs

Kathleen is a physical therapist and holds her PhD in physiology with a focus on vascular function. 

Michael Puthoff is the director and professor of St. Ambrose Physical Therapy department teaches courses such as exercises physiology, health and wellness and cardiopulmonary with the management of older adults. 

Social Media

Ellen

Twitter: @ellenhillegass

Website: www.ptcardioed.com 

Mike

Twitter: @MikePuthoff 

Rick Douglass is a physical therapist who worked for “other people” before opening Douglass Orthopedic & Spine Rehabilitation in 2001. In 2015, his company became a FYZICAL franchise. Now Rick is President of Franchise Operations for FYZICAL leading 448 franchise locations in 45 states. 

Rick provides an in-depth description of the Medicare Final Rule, PTA differentiator, the moratorium sequester cut, and MIPS.

There is a bill on the table called the Smart Act (H.R. 5536) including three main effects if the bill passes:

1. Push off PT cuts to 2023
2. Except for clinics in rural markets from these cuts
3. Reduce PTA supervision requirement to general supervision that does not require the presence of PT

This is the time for physical therapists and physical therapists assistants to take action to mitigate cuts to PT services and reimbursement. Head over to Take Action to Support APTA Advocacy and write your letter to Congress.