The Dave Kittle Show

When you're selling your physical therapy practice, you want to make sure that you get the most money possible. What are the few things that you can do before you put your physical therapy business on the market? How will you be able to get a higher price for your practice and make it easier for potential buyers to see the value that you have created in your business?

This week's The Dave Kittle Show episode, Dave Kittle will be joined again by Anthony Maritato. Anthony (Tony) Maritato is a physical therapist, private practice owner, and online business entrepreneur. He owns Total Therapy Solutions in Ohio with 2 outpatient physical therapy clinic locations. He’s been a licensed PT since 2006 and a practice owner since 2002. Tony is also the founder of several successfully growing projects and businesses including not limited to: Choose PT 1st Website: https://www.choosept1st.com Choose PT 1st Blog: https://www.choosept1st.com/blog/7-ways-to-maximize-the-sale-value-of-your-physical-therapy-businessLearn Medicare Billing Website: https://www.learnmedicarebilling.com Learn Medicare Billing YouTube channel: https://www.youtube.com/c/MedicareBilling “Medicare Home Therapy” website directory: https://www.medicarehometherapy.com Connect with Tony Maritato on Facebook at: https://www.facebook.com/anthony.maritato.73

We will touch on such topics as:

• Knowing the value of a network is knowing the value of the people that you surround yourself with. It's also important to remember that it takes two people cooperating for a network to work: one person has to be willing to give and the other has to be willing to take.
• Getting your finances organized is a great way to take control of your money and feel more secure about your financial future.
• A huge component of the value is the team that you can put together and making sure that that's a team that's gonna stick together as they go to the new owners.
• As a patient, you have to be able to trust that the service you're receiving is going to be delivered with care. If you don't feel confident in your provider's abilities, then it's not going to matter how much time and money he or she spends on you.
• If you're looking to accelerate growth, it might make sense to focus on improving customer retention rates. This can be done through better customer service.
• Building a massive moat around your business is a great way to protect it from the competition. The moat will keep competitors out, and allow you to focus on building your business without having to worry about other companies stealing your customers.
• The competitive advantage in the healthcare industry.
• If you're the owner of a business who is ready to sell and you're willing to stay on board during the sale process, I think there's a massive benefit and value in doing so.  

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Email: [email protected]

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Call (646)-781-8884

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Living in this modern world, how much money do you need to live the life that you want to live? Once you've attained the degree of achievement you're after, it's simpler to focus on other significant facets of your life. However, everyone's definition of financial success is unique, so how could one become a financial beast? What can practice owners do to be successful financially in order to deal with personal wealth?

This week's The Dave Kittle Show episode, Dave Kittle will be joined again by Eric Miller. Eric is the Chief Financial Advisor and Co-Owner of Econologics Financial Advisors, LLC based in Largo, FL. For Eric, there’s no greater feeling than inspiring practice owners (mostly physical therapy owners) and helping them eliminate financial uncertainty. His specialty is creating and implementing the Econologics Roadmap and ARMoR annual reviews for clients, allowing them to reach their goals now and far into the future.Check out Eric’s book: https://econologicsfinancialadvisors.com/beast-book/

We will touch on such topics as:

• When you do something over and over again for a long enough period of time, you gain confidence that you know how to help people in a specific area.
• With all of your successful action and financial freedom, the people around you should be as well.
• A financial beast is a practice owner that has gotten themselves into a financial condition where they don’t care about the external noise that they hear while they handle their own personal economy.
• Financial beasts are in charge of their financial lives. They created enough assets, income, and resources that they could survive anything.
• Set up the right account for your practice to ensure the security of your business.
• You have to calculate your numbers correctly. One of the biggest mistakes most owners make is underestimating how much money they really need to make to live the life they want to live.
• There are three things you can do with money. You can either save it, spend it, or invest it.
• Squeeze every bit of value out of your practice that you possibly can.
• It doesn’t matter where you are in your practice ownership journey, whether you are just starting or are three or five years away. You have to start thinking about how you can utilize your practice better so you can accelerate the process.
• Going out at the top of your game means that you are transitioning how and when you want to.
• You only have one shot at the exit. Make sure you negotiate the right way. That's why it is beneficial to have a good team around you to give you proper guidance.
• Treat your practice as an investment, not a job.  

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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 a practice affects the employees and business, which is why there are a lot of things to consider first before exiting. But how can you, as a business owner, determine what’s important when starting to look at an exit strategy or develop a succession plan? What are the types of models and frameworks that you can have in place and think about before you take your practice to market?

This week's The Dave Kittle Show episode, Dave Kittle will be joined by Stephen Anderson. Steve is the former CEO of Therapeutic Associates, a physical therapy practice with more than 80 outpatient clinics in Washington, Oregon and Idaho that also serves as a major hospital contract in Southern California. Therapeutic Associates was formed in 1952, and Steve was only the 3rd CEO and held that position for 19 years, beginning in 1998 after 16 years with the company. As a physical therapist, Steve started his career in 1980 in Portland, Oregon. In 1983 he opened the first Therapeutic Associates clinic in the state of Washington in West Seattle. As the owner and director of West Seattle Physical Therapy for 16 years, Steve was elected by his peers to become the CEO of Therapeutic Associates in 1998. Reach out to Stephen Anderson: https://www.orangedotcoaching.com

We will touch on such topics as:

• If you purchase and do the acquisition of other clinics, and you do it well and pay the price for it, you can have a positive cash flow right from the beginning.
• You need to be clear on what your expectations are and what you want to do. You need to do things for the right reason.
• If your main objective is to make as much money as you possibly can by selling your practice, then just be clear and okay about that and go find the highest bidder.
• If you can see an opportunity to join a group, collaborate more, and use combined resources, grab the chance and do it.
• Be clear about your future role with the organization, as well as what they agreed to do and what you are willing to do.Don’t seal the deal if you can’t see yourself doing what they want you to do.
• Ask your buyer a question you've been meaning to ask, and tell them what's important to you. Be willing to say that not everyone is a fit.  

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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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You've worked hard to build a successful practice, and now it's time for the payoff. You want the freedom to do what you love when you want, where you want it. But how do you get there? How will you unload your private practice that will create wealth and maximize your retirement position?

This week's The Dave Kittle Show episode, Dave Kittle will be joined by Joanna Oakey. Joanna has wide experience working with a large and diverse portfolio of organizations in the areas of mergers and acquisitions, contract law, procurement, commercial law, and branding. She has also conducted training throughout Australia covering all areas of contract law, as well as in compliance and the Competition and Consumer Act (formerly the Trade Practices Act). Drawing from key experiences in multiple jurisdictions, Joanna provides a range of proactive and commercially driven services to assist business managers, compliance officers and procurement officers in all facets of legal business risk.

We will touch on such topics as:

• The principles of acquisition can help both you and your business grow.This can lead to more clients, more products, and more investors. Similarly, the principles of exit tell you when to hold your businesses and when to fold them; it's not all about making the most money possible in a business—it's about balancing that good deal with where your heart is.
• Not all buyers are created equal. Some will be focused solely on acquiring a business. While others will be focused solely on acquiring a growth rate.
• When it comes to buying a business, exit can play a pivotal role in helping you grow.
• Healthcare can be an extraordinary business opportunity for anyone seeking a good profit level and an excellent return level.
• Acquiring a company is more than just making an offer and shaking hands. It's about building value together and aligning on the future. Acquisitions only make sense if you can create value together and build it in a way that works for everyone.
• You need to fully prepare for the exit from your business and make sure that you get the best possible return on your investment.
• Preparing your business exit is not just about making a deal, but ensuring that you are getting the value you deserve for your hard work. Protecting the value you have today and making sure it's getting maximized.
• When you are ready to sell your business, you will want to make sure that you have done all you can to ensure a successful exit from the business. This means understanding how tax laws apply to your situation and being prepared for any eventuality.
• Business exit is an emotional process. Even though you are likely approaching this end of your business with a great deal of excitement, you should still be aware that there will be a great deal of emotion attached to it.
• The risk in the value is the risk that the value will not be realized.

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Connect with Joanna: Get Her Book: BUY, GROW, EXIT: The Ultimate Guide to Using Business as a Wealth-Creation Vehicle on Amazon.

Podcast: The Deal Room (Listen on Apple Podcasts Here)

Website: https://www.aspectlegal.com.au/

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 year is almost over - what can you do to make your next year even better? How can you reflect on what we can do better in order to improve the following year?

This week's The Dave Kittle Show episode, Dave Kittle will be joined again by Jamey Schrier. Jamey is a physical therapist, previous private practice owner, author, coach, consultant, and speaker. Jamey helps physical therapy practice owners and healthcare business owners treat less and earn more. Jamey is the best-selling author of the Practice Freedom Method: The Practice Owner's Guide to Work Less, Earn More, and Live Your Passion.

First Episode with Jamey Schrier:

Youtube Link: https://www.youtube.com/watch?v=aJfCDEzS7fI

Apple Podcast Link: https://podcasts.apple.com/us/podcast/owner-got-%241-4-million-for-2-physical-therapy-offices/id1623712168?i=1000574867357

We will touch on such topics as:

• Make a list of all of your successes, failures and struggles, and the lessons you’ve learned in 2022. This will help remind you of what makes life worth living — and give you an idea of what to do in 2023 to make it even better!
• Solidify your success, bring into the forefront the struggles and failures, determine how to handle your past failures, and then extrapolate the lessons from last year. This is a powerful way to start your strategic plan for the next year, and avoid the same mistake from the previous year.
• There are many ways to get in the positive mindset, but one of the most effective is to focus on the wins and successes.
• Be specific and be detailed. Describe more in detail, the more you become detailed on what happened it will become better in the way.
• It's easy to get caught up in the idea of working more, or doing more. But what matters is not how much you can do, but how much you will do, and the results it gets.
• By treating less patients, you are able to spend a larger portion of your day interacting with the less complex cases that bring in most of the money.
• We have the fear of letting go - the more we hold on, the more we lose our own identity.
• Once you reflect on your 2022, begin foreseeing the outcome of your goal in your company. It's also important to think about what it doesn't look like—what would be a red flag that indicates that you're not on track? What might stop you from achieving the goal?
• In order to become professionally better, you need to find ways to challenge yourself and push yourself out of your comfort zone.
• The growth of your business is directly proportional to your growth. In order to create an amazing business is to continuously develop ourselves.

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Reach Out to Jamey:

Website: www.practicefreedomu.com 

Email: [email protected]

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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As a business owner, you know that growth is essential to the success of your company. But how do you grow successfully? How do you actually get people talking about what they love about your clinic?

This week's The Dave Kittle Show episode, Dave Kittle will be joined again by Andy Zapata. Andy Zapata is an occupational therapist and the Founder & CEO of Physical Therapy Now Franchise, Inc., in Miami, Florida. Andy has directly engaged in over 125 transactions in buying, selling, merging, franchising and start up de novo clinics in the physical therapy/occupational therapy niches. He also owns Physical Therapy Now Holdings LLC. in Miami, Florida since its inception February, 2010 to present, formally known as Miami Rehab Center LLC with 8 corporate facilities. He opened his first Physical Therapy Center in 2003. Mr. Zapata also owns businesses in Orthopedics, Interventional Pain Management, Urgent Care, Diagnostic Centers, and Durable Medical Equipment. Check out the website: www.physicaltherapynow.com 

We will touch on such topics as:

• A good business is built on the foundation of good systems. Educate yourself on the right system and the right approach for what drives the business. Once you know what your business is all about, you can start learning how to sell.
• Growing your business is an art, and all you need is a little creativity. It's a constant process of learning and growing.
• Relationships are the backbone of every business. Whether you're starting a new venture, or looking for ways to make your existing business more successful, relationships are what will make all the difference.
• When you share an experience with someone, you create a bond. And when you have that bond, you can build trust—which is the foundation of any good relationship.
• Once you know how to serve your patients and your clients, you'll always be winning in your business.
• Your influence is your superpower. It's not just about being able to influence people, it's also about knowing how to use your power responsibly. And that means using it in ways that benefit everyone involved, not just yourself.
• When it comes to success, the most important thing is asking yourself the right questions. If you ask yourself the wrong questions, your answer will always be wrong.
• If one of the three pillars are broken in your business, your business will suffer.
• Create an energy where patients can come in, relax, and have fun while they get their treatment. Treat your patients like people, not numbers - and create an experience on the same level of care when they come into your clinic.
• People won’t remember your exercises, but they will remember what you made them feel during the session in your clinic.  

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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 you're selling your practice, you want to make sure you get the highest valuation for it. How would you make your practice valuable and how can you market yourself so you attract the right buyers for your business? Consider whether there are any other practices that could benefit from acquiring yours, and if so, how would those benefits be communicated?

This week's The Dave Kittle Show episode, Dave Kittle will be joined again by Dr. Todd Russell, DDS. Dr. Russell, is the founder and CEO of Empire Dental Arts, a successful dental partnership organization based in Northeast Ohio. He is an award-winning dentist and executive leader with 30+ years’ experience driving best practices across strategic practice operations and patient care. He is adept at identifying and executing disciplined operational and business strategies across dental facilities management, clinician teams, patient care, and organizational visioning. He champions sound, disciplined management planning to elevate practice performance and patient engagement. Dr. Russell is an executive and community leader who continues to advance provider excellence and optimize practice performance. With unmatched clinical and industry experience, he masters a collaborative leadership approach to surpass provider and patient expectations and drive innovative dentistry healthcare advancements.First episode with Dr. Todd Russell: 

Youtube Link: https://www.youtube.com/watch?v=8OSgcJvvJEU 

Apple Podcast Link: https://podcasts.apple.com/us/podcast/dental-owners-sell-equity-to-big-group-some-stake-rolled/id1623712168?i=1000577416411 

We will touch on such topics as:

• The owner has control of the practice valuation. The owner is in charge of determining what you will pay for your practice and what the buyer will pay for your practice. It’s important that you have a good understanding of how this process works so you can make sure you get the best possible deal for your practice.
• The most important thing to know is that a practice is like any other business. It has a value based on what it can produce and how much it can produce.
• There are three main factors that go into valuing a dental practice: 1. The cost of buying all the equipment in the office. 2. The cost of replacing the equipment over time (the replacement value) 3. The amount of revenue the surgery generates per month (the revenue stream).
• One of the biggest components of interacting with practice owners and understanding where they're at in terms of some exit strategy or succession plan is understanding their timeline and where they're at in terms of valuation.
• The dental industry is a pretty recession-proof industry, so this will help with the business valuation.
• If you are ready for your private practice now, the DSOs are probably your best opportunity.
• The last three years of your business are the most important when it comes to valuation. But if you want to increase buyers' interest, it's the recent twelve months that will help you do it.
• In order to incentivize the buyer to continue producing, the buyer will make an earn out offer by paying the 80% of the valuation now, and then earning the 20% by maintaining the standard that buyer bought. The seller will get an up-front to help with the transition, and then another earning to maintain the standard for quality.
• Create a buyout model that requires sellers to stay on after exiting the practice. Instead of just handing over their client list, they're helping us train their replacement while working alongside.

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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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As a private-practice owner, have you ever asked yourself, "If I decide to sell some or all of my private practice, what are the things I need to consider before making a decision?" How do you know the right time to sell some or all of your practice? Do you have to wait until it's “too late”?

This week's The Dave Kittle Show episode, Dave Kittle goes solo and talks about The Four Questions you need to ask yourself first before selling some or all of your practices. These questions will ensure you are prepared for the process and help you decide whether selling off your private practice is a step you need to take, and make sure that you're making the right move for you, your practice, and your patients.

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

• Are you emotionally ready to sell your practice? Are you ready to give up control? Selling a practice can be a bittersweet experience that involves a lot of mixed emotions.
• Is your time in private practice ownership over? Are you ready to transition yourself and ready to retire from being a private practice owner?
• Are you ready to exit your business? ​ Are you financially prepared to exit? Have you taken the necessary steps for a smooth transition of your business? What about those outstanding financial debts, legal obligations, contracts and bills? Have you left yourself fully prepared to hand over the reins to your successor? It's essential you not only have sufficient capital to make your business a success, but also enough to finance your way out of it.
• Will this exit be exactly how I want my life to look like? 

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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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To keep your private practice running, you must be able to generate revenue and maintain a sufficient cash flow. But what is the ideal amount of patient frequency that ends up with the best result for your financial strength? How much management is in place to make the practice last longer? And how can you make the practice valuable if you don't know you can at least have a conversation whenever you want?

This week's The Dave Kittle Show episode, Dave Kittle will be joined by Shaun Kirk. Shaun is a Private Practice Consultant over US/Canada over the last 20+ years. He has guided more than 2,000 PT practices to higher levels of performance and success, many of which have won prestigious awards for rapid growth and profitability. With decades of experience and tangible results as a PT practice owner and a management consultant, he’ll show you how to rapidly achieve your goals.To learn more, check at there website at https://ptpracticesuccess.com/ 

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

• You need to manage what you have to be able to have many patients.
• If your average patient frequency is 1.5, increasing it to 2.0 will increase your revenue potential by 33%.
• If you are going to stretch out the care because the co-pay is high, then you will have more expenses. You might be saving some patients' money, but they will drop off the grid before they are done.
• Optimize your practice as much as you can to make it more valuable than you.
• If you're dealing with the average patient frequency, that's the frequency at which they show up, not the frequency at which you schedule them.
• We cannot push our expenses onto our patients. Only efficiency and maximizing experiences can compensate.  

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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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As we see the world around us slip further into uncertainty, many of us are asking ourselves: “How should I invest?” or “Where should I invest?” How can you reach your investment goals with different types of assets?

This week's The Dave Kittle Show episode, Dave Kittle will be joined by Denis Shapiro. Denis began investing in real estate in 2012, when the market was just beginning to recover from the global financial crisis. He went on to build a cash flowing portfolio that includes many alternative assets, such as note and ATM funds, mobile home parks, life insurance policies, tech start-ups, industrial property, short-term rentals, and more. He also co-founded an investment club for accredited investors in 2019. Leveraging these successes and the lessons learned throughout his career, Denis launched SIH Capital Group, an alternative investment fund that provides accredited investors with a simplified strategy to invest for passive income.  

Learn more at https://www.sihcapitalgroup.com/

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

• There are two kinds of investors: Traditional and Alternative.
• If you are a physician with alternative investments, you could turn around and you could buy someone else's practice. Being a physician and using your background to actually give yourself a better chance of, you know, profiting off.
• The potential is unlimited when you do have capital and you do have a passion. Alternative investments and private security is the ultimate marriage between the bulk.
• The first step is to make sure you actually have that time allocation to actually learn what the fundamentals of a private security are. The second thing to do really easy is start telling people what you're actually passionate about.
• A lot of new investors get blinded by the returns. Don't look at the returns. Returns are usually the last thing you should analyze in the deal. Look at all the fundamentals first. And if all fundamentals are solid, the returns are usually gonna be solid.
• Appreciate it as a long term investment without panic selling.
• Focus on the people who are trying to create that value versus trying to tell them why they're the best at what they do. 

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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.