This week an Erie based physical therapy group called Hertel and Brown Physical Therapy was raided by the FBI.
Imagine being a staff PT at this place….
You’re getting one of the 3 patients you’re working with that hour set up on a recumbent bike so you can teach one of your other patients how to do some theraband exercise.
In bust 10 FBI agents with guns looking for your boss!
Not something that happens everyday at a clinic like this.
The summary of what was going on is insurance fraud.
Insurance fraud to the tune of 22 million dollars!
These guys are in some serious trouble.
Here’s some good news though…
…if you want to avoid the possibility of insurance fraud all together, don’t accept insurance.
One of my favorite parts of having a cash practice is that we are completely transparent with our clients.
They know exactly what they are paying.
They will never get a bill from us months down the line.
They will always get our best and honest efforts to help them get back to the activities they love.
Stories like this group of idiots in Erie are what give our profession a bad name.
No wonder there has been such a massive transition to cash or hybrid practices.
If you’re heading that direction, I think you’re making a great choice.
Just think 5-10 years out.
Do you think insurance will reimburse you more or less?
Do you think insurance will require more documentation or less?
Do you think practices will require you to see more or less patients?
I’m obviously very bullish on the cash practice model but just answer those three questions yourself to see where you stand.
If you’re thinking about starting a cash practice or you’ve already gotten started, we have something really cool I think will help you.
Over the past few months, our team has been working hard to put together our Part Time To Full Time 5 Day Challenge.
In the course of 5 days, we deliver specific training and resources that will help you develop a rock solid plan for success.
We start by getting you crystal clear on just how much revenue you need to make in order to be able to go full time in your practice.
Next, we help you dial in what you should charge and how many visits you need to actually see in order to be full time.
After that, we go over 3 proven transition strategies from part time to full time that have worked for hundreds of our clients.
Next, we give you the exact sales and marketing systems you need to have in order to run a successful practice. Literally, a checklist fully organized for everything you need to have in place!
The last thing you’ll do is put together a 1 Page Business Plan.
We give you all the resources you need to develop a rock solid plan and make sure you’re making the transition to full time in your own practice successfully.
The best part is, it’s totally free.
We’ve had people go through this challenge and tell us this free course is better than most paid courses they have gone through!
We honestly think this is one of the better resources we have ever created.
If you have any interest in going from part time to full time, head here to get signed up for this free challenge.
Even if you haven’t started a practice but have plans to soon…. this challenge will be a great way to get yourself highly organized before starting.
Our motto is… Change is Coming!
We’ve said it for years and it’s been crazy to watch the growth of cash practices.
Change is coming. In fact, change is here.
You have to ask yourself if you’re going to be part of the movement or sit on the sidelines while so many of our colleagues change their lives forever!
Danny
P.S. If you have a practice, check out our friends at PtEverywhere. We switched to their software to run our cash practice and it’s been a game changer!