Breakthrough Pt Marketing Podcast With Chad Madden

If the proposed 3.34% Medicare Cut goes through, physical therapists in 2024 will get paid the lowest rate in 30 years. When you account for inflation, we'll effectively get paid half as much as physical therapists in 1994. To survive another round of Medicare cuts, it's imperative to take proactive steps to increase your profit margin.In this episode, you'll learn how to conduct a profit leak audit and increase profitability. Discover how to pinpoint where you’re losing money and 4 levers to increase profit. Plus, hear real stories about other practice owners who have successfully increased profit.Interested in the 13-week masterclass, Profitability Under Pressure? Get in before the Early Bird Deadline in early November. Apply here: https://bit.ly/46Coupc

Unfortunately, PT school still doesn’t teach us about money. A better understanding of money and finances could really come in handy right now(!) when the majority of private practice owners are experiencing shrinking profit margins. In this episode, Chad gives an introduction into what he’s learned about making money, including: The Wealth Formula for What You Should be WorthThe Happiness SecretThe Money ProblemAssets vs LiabilitiesProdigious Accumulators of Wealth (PAWs) vs Under Accumulators of Wealth (UAWs) Three books influenced Chad’s thinking on this topic: The Millionaire Next Door by Thomas J. Stanley, Increase Your Financial IQ by Robert Kiyosaki, and The Richest Man in Babylon by George Samuel Clason. In a future episode, Chad will share the 5 Financial IQs outlined by Robert Kiyosaki. __________________The private practice physical therapy industry is in turmoil, facing an unprecedented profit crisis. Declining reimbursements, surging business costs fueled by inflatio

Reimbursement rates have dropped lower than they were in 1994. Accounting for inflation, they're half as much today as they were then.Practice owners must find ways to increase revenue. One of the most effective ways you can do that is by adding cash-based services.In this episode, Chad talks with Mark Callanen, Director of Education at Enovis™, the parent company of Chattanooga® and LightForce® Lasers. They discuss the most common barriers to implementing cash-based services and ways to overcome them. They share strategies to attract cash-pay patients and to train and incentivize your staff to sell cash services. Chad and Mark also share the details of a new program for practice owners to increase revenue from cash-based services. SHOW LINKSInterested in increasing revenue from cash-based services? Learn more and schedule your discovery call: https://bit.ly/3rJy0aP

In this episode, Chad talks with Steven Coen, the CEO of Sara Health. Founded in 2018, SaRA Health has been at the forefront of remote therapeutic monitoring long before it was covered by insurance and became popular.Chad and Steven discuss the declining reimbursements in physical therapy and how RTM can increase revenue for providers. Sara Health's daily text messages to patients based on their treatment plan have been effective, with a 90% patient response rate. Steven discusses the outcome study they conducted in Rochester, Minnesota, which showed better outcomes and lower total cost of care for patients who received consistent, automated text communication.In this thought-provoking conversation, Steven Coen provides valuable insights into the future of remote therapeutic monitoring, the challenges faced by clinicians, and his vision for a better healthcare system.SHOW LINKSSara Health: https://sarahealth.io/Sara Health ROI Calculator: https://www.sarahealth.com/pricingContact Steven: steven@sarahealth.com

If you're considering selling your practice one day, whether in the next 5, 10, or 15 years — Now is the time to start planning for that future. The earlier you can take action to increase the value of your practice, the better. In this episode, Chad shares how he built his $16.5 million practice (since the time of this recording, the valuation has increased to $20.8 million).Learn Chad's planning process for growing and selling his practice. Discover the magic formula for calculating the value of your practice. And hear one practice owner's story of successfully doubling practice value within a year and retiring to their dream beach home. SHOW LINKSProfitability Under Pressure, Chad's 13-Week Masterclass: https://bit.ly/3Ob8XG6

Winter is just around the corner. And that means it’s time to start planning Q4 marketing campaigns to prevent the traditional slow season.Maintaining steady patient volume throughout the year, and avoiding a seasonal slowdown, is more important than ever. The profitability of your practice could be at risk. A recent report showed that inflation sped up in August, and the Consumer Price Index rose another 3.7 percent this year. Meanwhile, CMS has announced more Medicare Cuts as part of the 2024 Physician Fee Schedule Proposed Rule.These challenges are likely to further squeeze profit margins, which are already dangerously slim across our industry. To preserve your profitability, it’s imperative to do 2 things: 1) fill schedules and 2) fill space.In this episode, Chad goes over a foundational marketing concept that you can use to develop your Q4 marketing campaigns and keep your team operating at capacity throughout the winter months. Want to discover 10+ more ways to increase profitability? Fin

Nick Patel, the National Director of Clinical Services for USPH and Executive Director of APTQI, sheds light on the looming 2024 Medicare Cuts that have been proposed. In this episode, Nick shares the basics of the recent proposal, including more cuts to the conversion factor. Chad and Nick discuss the potential impacts — what more cuts mean for your practice and for patients. They also highlight the importance of advocacy and provide valuable information on how you can make your voice heard. With the potential impact on practice viability and patient care, it's crucial to understand the implications of these cuts. There are only a couple of days left to comment on the Proposed Rule. The deadline to submit comments is Monday, September 11th. Find more details on submitting comments in the show links below.SHOW LINKSAPTQI Take Action Page (How to Submit Comments to CMS): https://www.aptqi.com/take-action/APTQI Website: www.aptqi.comFollow APTQI on X (Formerly known as Twitter): @allianceptqiLearn more abo

The Centers for Medicaid and Medicare Services (CMS) issued the 2024 Physician Fee Schedule (PFS) proposed rule on July 13, 2023. It includes a 3.34% cut to the conversion factor — yet another cut to physical therapy reimbursements. The current conversion factor is already lower than in 1994, when the U.S. dollar held 52% more value (before decades of inflation).  CMS is accepting public comments on proposed policy changes until September 11, 2023.In this episode, Chad speaks with Mary Daulong, President and CEO of BCMS, to get a better understanding of what’s in the 2024 Physician Fee Schedule Proposed Rule and what practice owners can do to maintain profitability in a challenging environment. Tune in for expert insights into the proposed policy changes. Discover how and where to submit comments about the Proposed Rule. Plus, get practical steps you can take to navigate Medicare Cuts. SHOW LINKSPro Forma Tool: https://docs.google.com/spreadsheets/d/1Jhc6XvxAjpeRppJarAjQJg2xQm1VaRc_b9RRP7B

One of the most common things we hear from practice owners is challenges around retaining staff. And it's no surprise. After all, 4 Million Americans quit their jobs in 2021. And 3.6% more healthcare workers walked away in 2020 than in the previous year. On top of the labor shortage, the industry as a whole is experiencing declining reimbursements and rising costs — making it more difficult to offer competitive salaries. As a result, many owners are losing staff to HOPTs or POPTs practices.Practice owners who change nothing will continue to struggle...and may eventually be forced to close. Those who take a proactive approach to improving their essential business systems, including finance, personnel, and marketing, have an opportunity to not only survive — but to grow, expand, and leave a lasting impact.In this episode, Chad does a deep dive into the 10 processes that you need to build out to develop and retain a great team. Listen in to learn how to develop employee scorecards, source and scre

As the Founder and CEO of Include Health, Ryan Eder is committed to fusing design and technology to make physical therapy more accessible. He’s been building the design and technology for Include Health since 2006. In this episode, Ryan shares how technology can enhance the connection between the clinician and their patients in between visits and improve patient outcomes. And how it can be done as efficiently as possible so as not to interfere with the clinician’s workflow. He discusses Remote Therapeutic Monitoring (RTM), applications for AI in physical therapy, and how technology can be leveraged to reduce some of the documentation burden. In the end, Ryan encourages the industry to think of technology as a friend, not an enemy. Tune in to hear from Ryan on how technology can supercharge you.To learn more about Include Health, visit www.includehealth.comInterested in attending Breakthrough Live? TODAY August 18th is the Extended Free Ticket Deadline. Learn more and register here: https:/

Planning to sell your practice one day? Whether you want to sell in the next 2, 5, 10, or even 20 years, it’s important to start planning and taking action now to increase your practice value. In this episode, I walk through how to calculate EBITDA and the value of your practice.I share the 3 key determinants of practice value.Listen in to discover the steps you need to take in your practice to increase practice value. And learn how the market has changed for practices looking to exit soon. SHOW LINKSWatch the version of the recording with slides here: https://info.getbreakthrough.com/master-the-numbers-replay-wbn-typage Pro Forma Template mentioned in the episode: https://docs.google.com/spreadsheets/d/1Jhc6XvxAjpeRppJarAjQJg2xQm1VaRc_b9RRP7Bemao/edit?usp=sharing To get your own editable version of this template, click the link above then go to ‘File’ and ‘Make a Copy.’Learn more about Breakthrough Live: https://bit.ly/458cw5H By popular demand, the early bird deadline to get a

This episode is a recording from the recent Breakthrough Patient Demand Summit on increasing profit margins. Over 200 physical therapy practice owners were in attendance. Tyson Wigfall, Head of Marketing at Breakthrough, leads this session. Tyson is a true marketing expert. With well over a decade of marketing experience, Tyson works directly with physical therapists to drive marketing ROI and build patient demand. In this episode, you’ll discover the 3 most impactful marketing activities to prioritize for revenue growth. You’ll get a refresher on the 5 stages of awareness, one of the most foundational marketing concepts that you need to know as a PT practice owner.Gain an understanding of demand creation and patient demand. Discover how to run effective email campaigns to your past patients, how to attract brand new patients, and how to create a marketing calendar. SHOW LINKSTo claim your custom strategy call with a Breakthrough Program Director, copy and paste this link in

With declining reimbursements and shrinking profit margins, it's important to look at your billing and compliance processes. In this episode, Mary Daulong, President and CEO of BCMS, shares the most common mistakes that cause practices to lose money.You'll discover 3 important compliance strategies to prevent financial losses and increase profits.

Jason Waz is a physical therapist, private practice owner, and Founder of NeuPTtech. In this episode, Jason shares his journey to financial freedom as a practice owner. He talks about the challenges associated with being a business owner when you have a clinical background, and how he overcame these challenges to scale his practice. One key that led to Jason's success as a practice owner was discovering the Nuebie by Neufit, a device that added signficant cash revenue to his practice. Jason talks about how the Neubie works and what lessons he learned about implementing a cash service like the Neubie in your practice. Tune in to discover Jason's path to financial freedom. Learn strategies to support financial stability in your practice and in your life. SHOW LINKSResource on Section 179 Tax Incentive: https://neupttech.com/blog/section-179-tax-incentive-helps-practice-owners-save-money The NeuPTtech Blog: https://neupttech.com/blogContact Jason at jason@neupttech.comProfitability Under Pressure 13-Week Master

Are you a private practice owner struggling to maintain profitability in today's challenging healthcare landscape? In this no-BS episode, Chad shares an essential checklist designed to increase your practice's profitability in 2023 and beyond. Declining reimbursements, rising business costs, and hiring difficulties are pushing practice owners to the brink. Chad reveals a systematic, scientific approach to turn the tide in your favor.Unveiling the Profitability Checklist, Chad walks you through 7 game-changing strategies to ensure your practice thrives:Fill your schedules to unlock hidden revenue potential without increasing expenses.Optimize space utilization by unleashing the true capacity of your practice through strategic hiring.Build a waitlist that creates high demand for your services, giving you options for future growth and success.Diversify your revenue streams by adding lucrative cash pay services, reducing reliance on insurance companies.Attract more of your best-paying patients and prioritize your

Chad Madden talks with Kelly Brown about how Prediction Health is harnessing AI to make compliance and documentation easier and more efficient for physical therapists. They talk about how challenging documentation and compliance can be for most therapists. This confusion can result in inefficient processes, compliance risk, and missed opportunities to bill for applicable units. Kelly shared ways that AI is making documentation easier, reducing compliance risk, and even identifying revenue opportunities. Tune in to this episode to learn: -How AI can be harnessed to improve PT documentation -A way you can uncover whether your therapists are billing the appropriate number of units -Strategies to make billing and compliance easier and more efficient To learn more, visit predictionhealth.com or reach out to Kelly directly by emailing kellybrown@predictionhealth.com. Interested in learning more about the Profitability Under Pressure 13-week masterclass? Our first cohort starts next week, so now is the time

Since 2016, physical therapy reimbursement rates have declined by more than 10 percent. Yet Tony's practice in Gainesville, Florida has almost tripled revenue in that amount of time. How'd they do it? One key to success has been Tony's ability to successfully renegotiate insurance contracts. Through negotiations, Tony has secured an average 15% increase over the last couple of years. In fact, his largest payer gave him a 10% increase each year for the last 3 years. In this episode, Tony shares his exact process and recommendations for other owners interested in renegotiating reimbursements. SHOW LINKS: Read about Tony's story and discover the 9 steps for renegotiating your rates: getbreakthrough.com/negotiating-physical-therapy-reimbursement-rates/ Profitability Under Pressure 13-Week Masterclass: https://bit.ly/42Uy3gz

Feeling the pressure of declining PT reimbursements and rising costs? Considering adding cash-based services to increase profitability and improve patient outcomes? In this special episode, you’ll hear from a panel of practice owners who added cash-based services and successfully improved patient outcomes while increasing revenue in their practice. You'll discover what cash-based services are working today and learn best practices for rolling out a cash-based service in your clinic. Guest speakers include practice owners who have implemented therapeutic lasers, electrical stimulation devices, and 3D running technology. Jason Waz, Practice Owner of Competitive Edge Performance and Founder of NeuPTtech, grew cash revenue to $50,000/month without adding more square footage — and increased revenue by $15 a visit in the first year after adding a cash-based service. Maggie Hammerschmidt, Practice Owner of Team Rehabilitation-Lincoln Park, was able to monetize her passion for running and help elevate othe

Jarid Adams is Co-Founder of Theracentric, a Remote Therapeutic Monitoring tool that can help practices increase revenue by more than $100 per patient. With declining reimbursements, we have to look at new ways to increase revenue per patient. Remote Therapeutic Monitoring is one avenue you can explore to help increase insurance-based revenue, while simultaneously improving patient outcomes. In this episode, Jarid shares advancements in RTM, how to get your team onboard to buy in, and what a hybrid treatment model can look like. To learn more about Theracentric, visit www.theracentric.com or find them on Instagram @theracentric If you’re looking to get your profit margins back on track and gain financial stability in your practice, you could be a great fit for Breakthrough’s new program: Profitability Under Pressure. It's a 13-week masterclass for practice owners, where you'll learn... -How to perform a financial analysis of your practice and create a custom plan for improving profits -How to drop

Are you a practice owner who’s battling against declining reimbursements, upward pressure on increased costs of operating your practice, and shrinking profit margins? If any of that resonates, then you won’t want to miss this episode. Chad Madden and Carl Mattiola team up to disclose the 3 keys to increasing profit margins despite declining reimbursements. You’ll also learn about a new course Breakthrough is offering to help owners deal with these issues and implement solutions to become more profitable. If you’d like to learn more about this course and ask Chad questions about it live, you can sign up for a live webinar happening next week on this exact topic. There are two dates you can join (pick the one that works best for you): Tuesday, June 13 or Thursday, June 15. Sign up for one of the live webinars here: https://bit.ly/3J341jA Ready to get started and want to Apply for Profitability Under Pressure Now? Visit https://bit.ly/3N1JA7M