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Why Most Physio Clinics Are Undercharging - And What To Do About It
Summary
In this episode of the Healthcare Business Thrivecast, hosts Randall Cooper, Michael Kenahan, and Anthony Hurst delve into the critical topic of physiotherapy fees and the recent APA report that outlines recommended fee structures. The discussion covers the historical context of fee setting in the physiotherapy profession, the process behind the APA's recommendations, and the importance of creating a sustainable practice. The hosts emphasise the need for practitioners to understand their worth, the competitive landscape, and the necessity of educating themselves and their clients about appropriate pricing. The episode concludes with practical advice for clinic owners on implementing these recommendations and fostering a culture of value within their practices.
Takeaways
The APA report provides a much-needed benchmark for physiotherapy fees.
Creating a discussion point about fees is essential for the profession.
Practitioners should not compete solely on price.
The historical context of fee setting has led to low rates in physiotherapy.
Education about business practices is crucial for clinic owners.
Market competition influences fee structures significantly.
The report serves as an educational tool for practice owners.
Physiotherapists need to recognise and communicate their value.
Industry feedback has been overwhelmingly positive on the report.
Implementing the recommended fees can lead to a more sustainable practice.
Chapters
00:00 Introduction to the Healthcare Business Thrivecast
02:21 The Importance of Fee Structures in Physiotherapy
06:50 The Nouse Report: Insights and Recommendations
12:38 Understanding the Recommended Hourly Rate
18:06 Discussion on Experience and Specialisation in Fees
23:34 The Importance of Specialist Qualifications
25:42 Reception of the New Fee Structure
27:54 The Value of Physiotherapy and Market Perception
31:26 Engaging Younger Physiotherapists
34:04 Addressing Health Fund Reactions
34:36 Confidence in Fee Adjustments
37:37 Advice for Clinic Owners on Fee Structures
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By Healthcare Business ThrivecastSummary
In this episode of the Healthcare Business Thrivecast, hosts Randall Cooper, Michael Kenahan, and Anthony Hurst delve into the critical topic of physiotherapy fees and the recent APA report that outlines recommended fee structures. The discussion covers the historical context of fee setting in the physiotherapy profession, the process behind the APA's recommendations, and the importance of creating a sustainable practice. The hosts emphasise the need for practitioners to understand their worth, the competitive landscape, and the necessity of educating themselves and their clients about appropriate pricing. The episode concludes with practical advice for clinic owners on implementing these recommendations and fostering a culture of value within their practices.
Takeaways
The APA report provides a much-needed benchmark for physiotherapy fees.
Creating a discussion point about fees is essential for the profession.
Practitioners should not compete solely on price.
The historical context of fee setting has led to low rates in physiotherapy.
Education about business practices is crucial for clinic owners.
Market competition influences fee structures significantly.
The report serves as an educational tool for practice owners.
Physiotherapists need to recognise and communicate their value.
Industry feedback has been overwhelmingly positive on the report.
Implementing the recommended fees can lead to a more sustainable practice.
Chapters
00:00 Introduction to the Healthcare Business Thrivecast
02:21 The Importance of Fee Structures in Physiotherapy
06:50 The Nouse Report: Insights and Recommendations
12:38 Understanding the Recommended Hourly Rate
18:06 Discussion on Experience and Specialisation in Fees
23:34 The Importance of Specialist Qualifications
25:42 Reception of the New Fee Structure
27:54 The Value of Physiotherapy and Market Perception
31:26 Engaging Younger Physiotherapists
34:04 Addressing Health Fund Reactions
34:36 Confidence in Fee Adjustments
37:37 Advice for Clinic Owners on Fee Structures