How Your Practice Can Overcome Cost-Cutting Reimbursements. Insurance reimbursements are declining every year. What does this mean for your business? Impending doom? Or an opportunity to take your practice to a whole new level?
NEWSLETTER • DECEMBER 2022 Practice Marketing
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Practice Marketing Newsletter DECEMBER 2022
If you have a rockstar Patient Care Coordinator at the front desk who can control patient scheduling, then you have a very profitable practice. But if your front desk is not well trained, your practice will struggle with a high cancellation rate. 3 MANAGE FINANCES, BUILD PROFIT CENTERS, + REVISE CONTRACTS Sometimes practice owners get squeamish about money. But listen to me—it is perfectly OK to make a great living as a physical therapist! In fact, I don’t think we get paid nearly enough for all that we help people do. You need to keep your eyes on… • Inflow and outflow of cash. Invest in proper billing systems so you are in control of your finances • Build profit centers, areas of your business that are highly profitable. Example) Add additional services like massage, dry needling, EMG, etc. • Renegotiate your insurance contracts every six months. Read the full version of this article at PracticePromotions. Net/Blog to learn how I became the most highly reimbursed outpatient PT practice for United Healthcare in my area! YOU CAN LEAD YOUR PRACTICE TO SUCCESS Ultimately, there is a lot in your control. If you know how to apply these 3 key actions, you will be able to overcome many challenges from the insurance world.
How Your Practice Can Overcome Cost-Cutting Reimbursements Insurance reimbursements are declining every year. What does this mean for your business? Impending doom? Or an opportunity to take your practice to a whole new level? Here are the 3 key areas you can control to make your practice more successful and profitable. 1 KEEP YOUR PIPELINE FULL OF NEW PATIENTS You have to keep your practice space filled to the brim with patients! A big mistake many practice owners make when concerned with their finances is putting marketing activities on the chopping block. This hurts your ability to drive new business and revenue into the practice. But marketing is a business investment. Your marketing produces new and returning customers, period! Most practices don’t even get to the industry standard of 8% of gross revenue spent on marketing activities that the Small Businesses Association recommends spending on marketing. 2 MAXIMIZE YOUR EFFICIENCY To make your practice more profitable, you have to keep your practice full with patients. All. The. Time. Your therapists should rarely have a hole in their schedule, and it should be easily filled with people waiting to get on it.
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RINGING IN
A SUCCESSFUL Brand New Year
7 Steps to a Successful Patient Acquisition Plan for 2023
One of the most important things you can do for your clinic is to evaluate your physical therapy or chiropractic marketing plan every year. With inflation, hiring struggles, and competitors, you’ve got to take charge of how you get new patients! Creating a patient acquisition plan forces you to think about how to make your clinic’s business goals a reality and plan resources ahead of time.
4 MARKETING GOALS & TARGETS
The marketing goals you write should be the “sub-steps” that help you reach the practice goals from Step 1. Good goals should be SMART: Specific, Measurable, Achievable, Relevant, and Timely. You should be able to tell if you’ve met your PT marketing goals or not. For example, if your goal is bring more past patients pack to your clinic, simply track your clinic’s number of reactivated patients. Your target might be to bring in 10 past patients every month by by December 2023.
WRITE DOWN YOUR PRACTICE GOALS
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Where do you want your practice to be in 5-10 years? Do you plan to retire in the next 30-40 years? Are you looking to hire more PTs or open another clinic location? Write down your 10-year vision. Then figure out what you have to do within 5 years to make that happen. Then what you have to do in the next 1 year! Now you have 1-year goals!
5 CREATE YOUR ANNUAL MARKETING STRATEGY
A “marketing strategy” is a well-thought-out plan to meet your goals. Based on 20 years of experience in the healthcare marketing industry, we have created a simple 5-step Patient Acquisition Strategy that helps practice owners achieve their new patient goals.
NEW PATIENTS
2 CREATE A MARKETING BUDGET
Pro Tip!
Kick Off The New Year With Record-Breaking Record-Breaking Patient Numbers!
The US Small Business Administration recommends spending 8-10% of your revenue on marketing, or patient acquisition efforts. What would 8% of your monthly revenue be? 3 DESCRIBE TARGET AUDIENCE + HOW YOU SERVE THEM Who is the best type of customer for your clinic? Who is compliant, has insurance that doesn’t cause extra work internally, and who refers people to your clinic? Now—how can you uniquely serve that ideal patient? What do you do better than anyone else? Who is your competition and how are you different? What proof of expertise can you display to validate that? Make sure your whole team knows why you’re different.
6 PLAN SPECIFIC TACTICS
“Tactics” are specific actions you take or tools you use that fit in one of your strategy’s steps. If your goal is to bring more past patients to the clinic, your strategy may be “Contact past patients once a week through various channels.” The tactic then could be to send out weekly informational emails to past patients, reminding them to come back in for care!
7 SHARE PLAN WITH STAFF
Get your team on the same page—and ask for feedback! Get everyone excited about your goals, and make it clear how meeting those goals will benefit your team.
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Sportscare Physical Therapy
Jeff and Ellen Lewandowski are the owners of SportsCare PT, a 2-location physical therapy and orthopedic rehab practice in Georgia. They first joined Practice Promotions in January 2017, trusting Practice Promotions with their Website Design and Advanced SEO Services. After four years, in an attempt to reduce their marketing spending, they ended up leaving Practice Promotions for NetHealth in April 2021. But by January 2022— Jeff and Ellen were back! This time, they decided to go all in with Practice Promotions, investing in a refreshed Website Design, Advanced SEO Services, and Google Ads PPC. They saw immediate success! In the first month back with Practice Promotions, SportsCare PT saw 50 New + Reactivated Patient Leads! SportsCare PT Returns from “Less Expensive Option” after 10 Months to More Rewarding Option with Practice Promotions This PT Clinic Left Practice Promotions... And Then Came Back. Here’s Why…
92 Patient Calls
83 % Increase in Google My Business Views
The success and new patients just kept coming month after month:
Winning Website Design: SportsCare PT’s new website turned 4.78% of visitors into patient leads over the first six months! That crushes the industry standard of a 2-3% conversion rate. 83% Increase in Google My Business Views : Our Advanced SEO services really worked for SportsCare, increasing their Google My Business Views by 83% in 8 months! (Jan 2022: 6278 to 11,473 in August 2022) 148 New and Reactivated Patient Calls from Google Ads in First 6 Months. SportsCare PT definitely made the right choice in investing in Google Ads—they’ve seen an incredible increase in new / returning patient calls since adding Google Ads PPC to their marketing program. Jeff and Ellen made the decision to leave Practice Promotions for a less expensive option, but it only took them 10 months to come back! Now, they are winning on our Pro Marketing Plan. Here’s to another four years— and beyond!
148 Patient Calls from Google Ads
PracticePromotions.Net/Kit
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This Physio Clinic LIT UP with 2x Patient Leads & BUSIEST Month after New Website Launch!
Patient Email Marketing
PT Google Ads Sample Patient Newsletter
Practice Website
Blogs Done For you
285 % Increase in Website Visitors
333 % Increase in Patient Calls
275 % Increase in Patient Leads
VISIT OUR WEBSITE AT PracticePromotions.Net/Kit SEE THE SAME MARKETING TOOLS THEY USED IN A FREE SAMPLE KIT!
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