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WHAT DID 2020 TEACH US?
What Did 2020 about PT Marketing? Teach Us
2020 started off like any other year...
but two areas were hit the hardest:
Unfortunately for those practices that discontinued their marketing missed an opportunity to ensure current and past patients knew they were open. But it’s not too late! By learning and executing the Business Recovery Curve, you are able to recover and get your business back to normal. If you’ve recovered or are still recovering, it’s still important to focus on a few key actions that we learned over the past year. SO WHAT DID 2020 TEACH US? Look at your budget like a business owner. PT school didn’t teach you this, but it’s vital to your clinic. Take a few minutes to learn basic financial crisis strategies such as the Business Recovery Curve before making a budget cut. Don’t rely on doctors. Referrals have dried up because of reduced caseloads and increased policy restrictions. (continued...)
• Privately-Owned Practices – 65% of PTs in the private sector reported a loss in income, higher than any other segment. • Doctor Referrals – 97% of private clinics reported a decline in referrals vs. just 81% reporting a decline in direct access. Temporary closings, reduced patient flow, questions on Telehealth and essential care–clinics around North America faced a bombardment of obstacles while struggling to find their footing.
It was going to be the best year ever for PT clinics. PT owners were planning to rocket their reactivated patient numbers while crushing last year’s goals for new patient stats, all the while continuing to spread the glories of natural pain relief through physical therapy over the dangers or surgery and opioids. However, in March 2020, the COVID-19 took the entire world into confusion and uncertainty, leaving many small businesses, particularly PT Owners, scrambling to respond and adapt. Unfortunately the social climate created by COVID discouraged many current and potential patients from leaving their homes, causing some PT clinics to shut down, some for good. About 97% of physical therapy and rehab businesses saw a significant decrease in patient volume,
THE PT OWNER’S CRISIS & RECOVERY GUIDE:
So how did you survive the coronavirus economy and ultimately protect your business? You developed a Business Continuity Plan* so that even future emergencies won’t ruin what you’ve worked so hard to build.
WANT TO LEARN MORE ABOUT THE BUSINESS RECOVERY CURVE? SCAN THE QR CODE TO VISIT OUR WEBSITE & WATCH THE VIDEO!
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