A scalable and profitable health practice relies heavily on efficient revenue cycle management. What right strategy do you need to apply in your practice in order to unlock significant value, enhance your profit margin, and create a solid foundation for lasting generational wealth? How will you create a well-structured revenue management system that can help your business not only increase its purchase price but also build solid physical therapy practice? 

This week's The Dave Kittle Show episode, Dave Kittle continues his last conversation with Robert Kowalick. Robert is the founder of Revenue Cycle Solutions, LLC. His professional purpose is to help PT and OT private practice owners maximize the value of their private practice. Revenue Cycle Solutions has evolved from a billing service to a revenue cycle management partner to business intelligence data provider through its unique utilization of time based data to identify and quantify practice operational revenue risks. Through the use of the Practice Data Solutions platform he created through his other company, Ascend Solutions, they turn the medical billing process into a billing intelligence tool. 

Connect with Robert via email at [email protected] or learn more on his website at https://www.certifiedrsllc.com/.

Listen to or Watch Part 1:

• Apple Podcast: http://bit.ly/3PQN7c2
• Spotify: https://spoti.fi/3ro6zTv
• YouTube: https://youtu.be/eR6b1x2z0QE

In this episode, they will touch on such topics as: 

• Improving Cash Flow through Billing and Coding: The different strategies and techniques to enhance these processes, and highlighting the importance of efficient billing systems to overall business profitability. 
• Increasing Margin for Billing Companies: The key to boosting profit margins for billing companies lies in optimizing processes and leveraging data in strategic ways.  
• The Link Between Revenue Cycle and Practice Value: How timely and accurate payments play a vital role in defining the overall worth of a business.
• Maximizing Revenue and Conversion Rates: The practical tips and strategies to enhance these crucial components of your business practice.

P.S. Subscribe, rate, and review Here

Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

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The potential for growth and profitability in your practice depends on the efficiency of its Revenue Cycle Management (RCM). How do you create an effective RCM system that will help you provide a superior patient experience and give you valuable insight into patient behavioral data, aiding in streamlining your services to match their needs?

This week's The Dave Kittle Show episode, Dave Kittle welcomes Robert Kowalick. Robert is the founder of Revenue Cycle Solutions, LLC. His professional purpose is to help PT and OT private practice owners maximize the value of their private practice. Revenue Cycle Solutions has evolved from a billing service to a revenue cycle management partner to business intelligence data provider through its unique utilization of time based data to identify and quantify practice operational revenue risks. Through the use of the Practice Data Solutions platform he created through his other company, Ascend Solutions, they turn the medical billing process into a billing intelligence tool. 

Connect with Robert via email at [email protected] or learn more on his website at https://www.certifiedrsllc.com/.

In this episode, they will touch on such topics as:  

• What it takes to scale a startup practice to 10,000 visits a month.
• Understanding the limitations of business structure into an outcome based provider of revenue cycle services and data and analytics. 
• The key strategies to optimizing Revenue Cycle Management. 
• How RCM is a vital part of your business to improve the financial health of your company.
• An effectively optimized Revenue Cycle Management is beneficial not just for the business but also for its consumers.  
• A combination of implementing best practices and using the right technology can skyrocket your revenue and maximize your business value.

P.S. Subscribe, rate, and review Here

Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

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Transitioning into becoming an absentee owner poses unique challenges, such as maintaining staff morale and productivity. What are the strategies you need to maintain to ensure a smooth transition to absentee practice ownership, as well as tools and technologies that can streamline your management tasks? How will you achieve the perfect balance of freedom and successfully exit in your practice? 

This week's The Dave Kittle Show episode, Dave Kittle welcomes back Judy Cirullo, a highly-regarded healthcare practitioner, Executive and Team Coach. Judy draws on her extensive experience, training, and passion to help leaders and teams tackle challenging conversations and support them during pivotal transitions in their personal and professional lives. While owning 4 private practices in 4 states, she realized that developing others as leaders was critical to transforming and maintaining the best culture. Throughout this journey, she gained experience leading, mentoring, and developing others, while also learning from my challenges, mistakes, and successes realizing that conversations were the backbone of her business.Ultimately, this led to a framework for executives and teams that want to retool, transform and revive their culture by utilizing strategic consulting, coaching, and facilitation.

Connect with Judy on LinkedIn at https://www.linkedin.com/in/judycirullo/ or email her at [email protected]. You can also visit her website at https://growstrongteams.com/.

In this episode, they will touch on such topics as: 

• Set a solid foundation for your practice: implement efficient systems and processes
• Build a strong and strategic team: create a collaborative business structure
• Adopt a continuous improvement mindset
• Foster a positive work environment and open communication with the team 
• Business owners should be asking potential buyers questions. 
• What are the best practices for maintaining a successful absentee practice?

P.S. Subscribe, rate, and review Here

Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

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Our emotions have a significant impact on our decision-making abilities— with studies suggesting that a whopping 80% of our decisions are influenced by how we feel. When it comes to selling your practice, it is crucial to ask yourself: are you selling from your heart or your head? How do you plan your exit strategy without ignoring the different factors that may lead to an unfavorable outcome on your transition? What do you need to consider in order to ensure a smooth, successful, and respectful transition that brings everyone onboard and honors the business’s legacy?

This week's The Dave Kittle Show episode, Dave Kittle welcomes Judy Cirullo, a highly-regarded healthcare practitioner, Executive and Team Coach. Judy draws on her extensive experience, training, and passion to help leaders and teams tackle challenging conversations and support them during pivotal transitions in their personal and professional lives.

Connect with Judy on LinkedIn at https://www.linkedin.com/in/judycirullo/ or email her at [email protected]. You can also visit her website at https://growstrongteams.com/.

In this episode, they will touch on such topics as: 

• Personal vs. Professional Transition Planning: Understand the importance of distinguishing between personal and professional factors during transition planning and decision-making.
• Evaluating the Motivation Behind the Transition: Clarity on the "why" behind the decision, from motivations for selling/business handover to considering the founder's intentions and post-transition plans.
• Attachment to Business & Identity: Exploring the emotional ties between business owners and their ventures, as well as the impact of this attachment on transition outcomes.
• Age & Health Considerations: Addressing the role of life circumstances on decisions related to business transitions and finding the right course of action.
• Striking the Emotional vs. Logical Balance: Delving into whether leaders are too emotionally-driven when approaching business transitions, and the importance of incorporating a more logic-based approach.
• The Power of Self-Understanding: Highlighting the significance of being clear on one's values, motivations, and professional identity.
• Seeking Professional Guidance: Discussing the value of enlisting legal, financial, and strategic expertise to ensure unbiased, objective advice during the transition process.

P.S. Subscribe, rate, and review Here

Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

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Understanding the intricacies of physical therapy franchises, concierge, and insurance coverage is essential for both patients and therapists. How can you consider the benefits and drawbacks of each model to help you make an informed decision for your care or practice model? What area will help you continue to shape the landscape of physical therapy, staying informed and adaptable in order to be a success?

This week's The Dave Kittle Show episode, Dave Kittle welcomes back Dr. Michael Gorman on another podcast episode. He is the Founder of iMove PT,  a physical therapist, private practice owner, and entrepreneur. He started St Louis Physical Therapy in 2002 and grew it to 7 locations.  After 15 years, Michael sold his 7 clinics to a national healthcare company. He continued treating patients in the practice for another 2 and a half years before leaving completely. Michael attempted to acquire Dean Volk’s 2 clinic location practice (Volk PT), however, the Covid pandemic destroyed that potential deal.  So, instead he started the iMovePT franchise to provide patients with a one on one treatment experience. 

You can connect with Michael Gorman at iMove PT to learn more about franchise opportunities at https://imovephysicaltherapy.com

In this episode, they will touch on such topics as: 

• Why create and build a franchise model instead of just owning everything? 
• How leaving something behind to the future generations can help physical therapists be independent business-owners.
• When you're a franchisee, you have your own business and that is building assets, and if in the next five years you want to be out - you can sell your assets. 
• Why he limited his franchise to physical therapy and how this franchise could help other physical therapists to have their own company and be very confident and make a huge impact in their community.
• Healthcare consumers are more conscious about their decisions and not just go with different practices where they could always go and we'll always accept their in-network insurance.
• How do you make it accessible and affordable to your consumers, your residents nearby?

P.S. Subscribe, rate, and review Here

Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

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Selling your practice allowed you to retire and spend more time with family while ensuring that the business continued to thrive under new leadership. But looking back at the physical therapy practice owner you sold to years ago, how would you feel about the decision today? 

This week's The Dave Kittle Show episode, Dave Kittle welcomes back Michael Gorman.Dr. Michael Gorman, Founder of iMove PT,  is a physical therapist, private practice owner, and entrepreneur. He started St Louis Physical Therapy in 2002 and grew it to 7 locations.  After 15 years, Michael sold his 7 clinics to a national healthcare company. He continued treating patients in the practice for another 2 and a half years before leaving completely. Michael attempted to acquire Dean Volk’s 2 clinic location practice (Volk PT), however, the Covid pandemic destroyed that potential deal. So, instead he started the iMovePT franchise to provide patients with a one on one treatment experience. 

You can connect with Michael Gorman at iMove PT to learn more about franchise opportunities at https://imovephysicaltherapy.com

In this episode, they will touch on such topics as:  

• What did Michael feel when he sold his seven outpatient practice to select medical? 
• When you open a practice, you have to understand that it is not only about treating your patients, but also the insurance and cash flow that are coming into your business. 
• What is the number one thing you need to look at when your business has an insurance model? 
• Rebranding and changing the practice in order to make it financially work. 
• How Michael was able to treat patients after he created a new business model.

P.S. Subscribe, rate, and review Here

Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

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Is it possible for a physical therapist to create an opportunity to start a cash pay revenue model with a new medical device that actually helps treat patients? What are the rising challenges of this new medical device to the traditional PT? 

This week's The Dave Kittle Show episode, Dave Kittle goes solo to interview Dr. Kieran Collins, DC. Dr. Kieran is a Chiropractor specialist practicing in Jersey City, NJ. including Medicare and Medicaid.

Connect with Dr. Kieran Collins, DC: (973) 568-7315

In this episode, they will touch on such topics as:  

• The types of patients Dr. Kieran Collins treats with his new medical device, the possible outcomes and the potential implementation through the device.
• What is Neuromodulation?  
• How can this device be used to heal and treat nerve and peripheral pain? How is this going to treat pain differently? 
• The goal in traditional PT is not  to keep the cycle flowing and moving, but if you want a result, the device is going to give you the results you want.
• How to rebuild the patients back up with strength and mobility. 
• How long does the pain relief last? 
• The STEM pod is  a magnetic wave of energy that treats nerves directly. So it can directly treat in a very specific location, including between fingers, hands, wrists, and other places. 

P.S. Subscribe, rate, and review Here

Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

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When selling your therapy business, it’s important to understand the buyer’s perspective at the different aspects of your business. What are the things you need to consider when valuing your business? And what should you do, as a seller-owner, to align yourself with their perspective for a successful and smooth transition? 

This week's The Dave Kittle Show episode, Dave Kittle welcomes back Donny Orengia. Donny is currently the Director of Business Development with Main Street Therapy Partners. He started his career with Main Street Therapy Partners 8 years ago when he found an opportunity to grow their outpatient division from 2 locations to now 14 locations. Using a geographically agnostic partnership approach, they acquire practices while maintaining the existing branding in efforts to uphold the practice reputation in their respective communities. 

Learn more about Main Street Therapy Partners at: https://mainstreetpt.net/our-physical-therapy-clinic/

In this episode, they will touch on such topics as:  

• The practice owner becomes a cheerleader that makes sure that this potential partnership is successful.
• Are the expectations in-line with the buyers perspectives? 
• The seller-owner being a cheerleader helps mitigate risk. It lessens the risk of something catastrophic happening where there's an issue with the team or the culture, the owner can maintain the status-quo. 
• If you are working on the business, you can look at your salary or your earnings as an add back that goes into valuation - if you want to phase out, which obviously increases the valuation.
• If they are wanting to phase away from a buyer's perspective, it is of the utmost importance to be confident that you have somebody who is going to cheerlead the deal essentially on your behalf as you transition out.

P.S. Subscribe, rate, and review Here

Connect with Donny on:

LinkedIn: https://www.linkedin.com/in/donny-orengia-515256b6/

Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

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Are you a physical therapy business owner, who is ready to sell your practice, but wondering — is having a broker worth it? What are the pros and cons of having a broker that will help you through the process? How can their expertise help your business in the best light? 

This week's The Dave Kittle Show episode, Dave Kittle goes solo to interview Donny Orengia. Donny is currently the Director of Business Development with Main Street Therapy Partners. He started his career with Main Street Therapy Partners 8 years ago when he found an opportunity to grow their outpatient division from 2 locations to now 14 locations. Using a geographically agnostic partnership approach, they acquire practices while maintaining the existing branding in efforts to uphold the practice reputation in their respective communities. 

Learn more about Main Street Therapy Partners at: https://mainstreetpt.net/our-physical-therapy-clinic/

In this episode, they will touch on such topics as: 

• How much bandwidth someone should have to take on potential due diligence.
• Working with a potential broker will depend on the size of the practice, the dedicated time, and how you understand the process. 
• Even if you are not working with a broker, you’ll work with your own legal team and accountant where you can save yourself with 8%-10%, and you will also get to learn a lot through that process. 
• If a broker doesn't take you across the finish line, the owner is likely still going to be searching for their exit strategy and a partnership that will help them set up for success.

P.S. Subscribe, rate, and review Here

Connect with Donny on:

LinkedIn: https://www.linkedin.com/in/donny-orengia-515256b6/

Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

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Entering into a practice partnership MAY help your business grow and maintain the stability of the business when done correctly - what are the pros and cons of entering a business partnership to help you decide if this is the right decision for your career? What are the things you need to consider and prepare for during business partnerships that may not be avoidable, but you can learn ways to remedy them? 

This week's The Dave Kittle Show episode, Dave Kittle welcomes back Dr. Lance Knaub. Dr. Lance Knaub helps athletes and “everyday athletes” of all ages and abilities achieve their goals and get back to what they love as quickly as possible. He treats people with sports medicine, orthopedic, and musculoskeletal problems, and specializes in transitioning clients from injury back to health, fitness, and return to sport. He has been practicing for 20 years and has been in the health and fitness field for 24 years. Lance is passionate about Breakthru’s model of bringing physical therapy together with fitness, which allows our team of Doctors of Physical Therapy and Certified Personal Trainers to help you create a “balanced body” with adequate strength/flexibility/mobility in order to function optimally and prevent injuries.

In this episode, they will touch on such topics as: 

• How does physical therapy and fitness go together? 
• Recognize the value of your organization, and learn about the valuation metrics so you can grow your business. 
• Be very deliberate and intentional with who you sit down with because once you do start having conversations, especially if you're going to share your finances, because your plan and your strategy is actually the crown jewel of your business. 
• Share your goals and your vision, and have clarity on your vision because you can create some win-wins and during your conversation with a potential partnership. 
• Your team and employees are your business’s greatest assets. Remember, your team is more important than your clients and your customers.
• How to attract and retain business partnership and be able to maintain your business metrics. 
• How to build a healthy lifestyle while scaling your business. 
• How Dr. Lance ended up partnering with a large organization and how his partnership helped him in scaling his practice.

P.S. Subscribe, rate, and review Here 

Reach Out to Dr. Lance Knaub:

Website: https://www.denaliconsultingteam.com

Lance’s Book on Amazon: https://www.amazon.com/4-Break-Thru-Business-Entrepreneurs-Outlast-ebook/dp/B084DLSMYJ

Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

Hosted on Acast. See acast.com/privacy for more information.