The Dave Kittle Show

By Dave KittleBusiness Education Investing How To

The Dave Kittle Show episodes

July 07, 2023Part 1: Maximizing Practice Value With Optimized Revenue Cycle Management (RCM) with Robert Kowalick
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

And, if you like what you hear from the host, Dave Kittle, then it's possible that he and his team, The Fieldmaker Group, may be interested in acquiring some or all of your physical therapy practice.

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.
40 min
July 05, 2023How To Become an Absentee Practice Owner Without Staff or Morale Issues with Judy Cirullo
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

And, if you like what you hear from the host, Dave Kittle, then it's possible that he and his team, The Fieldmaker Group, may be interested in acquiring some or all of your physical therapy practice.

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.
19 min
June 30, 2023Emotional vs Logical Exit Strategy & Transition Planning with Judy Cirullo
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

And, if you like what you hear from the host, Dave Kittle, then it's possible that he and his team, The Fieldmaker Group, may be interested in acquiring some or all of your physical therapy practice.

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.
24 min
June 28, 2023What Everybody Ought To Know About Physical Therapy Franchises, Concierge, & Insurance with Michael Gorman
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

And, if you like what you hear from the host, Dave Kittle, then it's possible that he and his team, The Fieldmaker Group, may be interested in acquiring some or all of your physical therapy practice.

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.
23 min
June 23, 2023Seller's Remorse? A Look Back 5+ Years After a Physical Therapy Practice Sale! With Michael Gorman
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

And, if you like what you hear from the host, Dave Kittle, then it's possible that he and his team, The Fieldmaker Group, may be interested in acquiring some or all of your physical therapy practice.

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.
23 min
June 21, 2023Cash Pay Revenue Model for Treating Pain using a New Medical Device with Dr. Kieran Collins, DC
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

And, if you like what you hear from the host, Dave Kittle, then it's possible that he and his team, The Fieldmaker Group, may be interested in acquiring some or all of your physical therapy practice.

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.
46 min
June 16, 2023Working On vs. Working In Your Practice From a Buyer's Perspective with Donny Orengia
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/

And, if you like what you hear from the host, Dave Kittle, then it's possible that he and his team, The Fieldmaker Group, may be interested in acquiring some or all of your physical therapy practice.

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.
27 min
June 14, 2023Pros & Cons of using a Broker to Sell Your Physical Therapy Practice with Donny Orengia
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/

And, if you like what you hear from the host, Dave Kittle, then it's possible that he and his team, The Fieldmaker Group, may be interested in acquiring some or all of your physical therapy practice.

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.
22 min
June 09, 2023Unlocking Opportunities: Pros and Cons of Partnering with a Larger Organization with Dr. Lance Knaub
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

And, if you like what you hear from the host, Dave Kittle, then it's possible that he and his team, The Fieldmaker Group, may be interested in acquiring some or all of your physical therapy practice.

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.
43 min
June 07, 2023Physical Therapy Practice Owner Shows You The Formula To Make Millions When Exiting with Amit Gaglani
Exiting your physical therapy practice can be a complex and emotional process. How do you ensure that you will achieve a smooth transition and maximize your financial gains before you exit? How do you establish a strong foundation, know your practice's value, develop a plan, optimize your practice, and negotiate the best deal to make millions when exiting your physical therapy practice?

This week's The Dave Kittle Show episode, Dave Kittle goes solo to interview Amit Gaglani. Amit Gaglani, PT, OCS is a physical therapist and previous practice owner of Arrow Physical Therapy in New Jersey. Amit grew Arrow PT to 4 clinic locations. Then, he partnered with Alliance Physical Therapy Partners (selling 70% of his equity stake) and approximately 4 years later, Alliance acquired the remaining 30% stake. Amit is currently the Founder and CEO of AG Management Consulting Co and Co-Founder of Alliance Physical Therapy Partners. With his proven success in business and over 20 years as a physical therapist, Mr. Gaglani negotiates insurance contracts and is instrumental in opening new offices across the country. Through his business experience and acumen, he uses his skills to raise capital for investments. Initially, he would evaluate alternative investment deals for his personal investments. Soon others noticed the benefits and unique offerings that Mr. Gaglani was able to cultivate with risk mitigation, tax efficiencies, high returns and ownership stakes. Now after numerous successful deals, Mr. Gaglani has a group of over 40 accredited investors that partner with him on investments. He is very passionate about investing in the alternative investments space with unique crafted deals. He welcomes other accredited investors to join his group and experience the negotiated high returns that they have been accustomed to attaining. When not connecting with investors, you'll find him investing time with his family on the tennis court, golf course, riding arena or on a plane.

Connect with Amit Gaglani: [email protected]

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

How Amit became a CEO from being a Physical Therapist.
You have to keep your eye on your business statistics, it will give you an insight into what’s going on and where your business is going.
What it looks like to lead the exit process for your business.
The pros and cons in handling the exit process yourself.
Your business valuation goes up if you remove yourself from the business, and the business is working for you.
You're going to be judged by your profits. So if you're not profitable, your business exit is not gonna work.
Buying out-of network clinics vs in-network clinics

P.S. Subscribe, rate, and review Here

And, if you like what you hear from the host, Dave Kittle, then it's possible that he and his team, The Fieldmaker Group, may be interested in acquiring some or all of your physical therapy practice.

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.
38 min

About The Dave Kittle Show

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Have you considered selling some or all of your healthcare business? Do you have an exit strategy or succession plan? Do you need a broker? Do you want to know how you can sell your business for top…