The days of easy are over. Competition from hospitals and mega PT groups has arrived. Consolidation is real. You can no longer run your business on a whim and expect success. How do you measure success?
At FYZICAL Discovery Day, you will discover 15 Pillars of Success and 12 Vital Statistics you should be tracking daily, monthly and annually if you are looking to manage your business like a business.
"I went from $680,000 in revenue to over $5 million since joining FYZICAL. I’d been in private practice for 13 years, operating two locations. I was carrying a full caseload while also wearing the hat of “general manager.” My two-location practice had achieved roughly $750k in revenue. But then, business declined by $70k to its lowest level in 7 years: $68Ok. Then I went to FYZICAL's Discovery Day."
- Chris Mulvey, DPT / Franchisee
How much revenue should you be generating per square foot?
You should be generating over $550 per square foot. If you aren’t, your space is either too large or you are below capacity.
What is your cancellation / no-show rate?
Is it below 14%? Don’t guess… this should be tracked and measured down to every patient.
What is your referral conversion rate?
It should be at least 85%. Not sure? How many referrals did you receive and how many of these referrals turned into patients seen? If you received 100 referrals and 70 turned into patients, you have a 70% conversion rate. Again, don’t guess. If you say “I think it’s about X%,” you don’t know.
How much revenue should you be generating per full-time clinician?
$235,000. Take your annual revenue and divide by the number of full-time clinicians in your business. Is it lower than $235k? You have room for growth.
“Since joining FYZICAL, I’m able to pay my employees more, provide much greater opportunities, and spend significantly more time doing what I love, working directly with the Golden State Warriors.”
- Scott Pensivy / FYZICAL Las Vegas
Discovery Day is jam-packed with information to help you succeed into the future of PT. While business skills development comes first, you will also discover:
Marketing Skills: A step-by-step plan on how to get in front of AND speak with physicians. Don’t worry, you’ll also gain advantages of going direct to consumer.
Recruiting / Management Skills: How to provide employees with greater opportunity, making it easy to find team members
Clinical Skills: The specialties you need in your practice to compete with hospitals and how to implement them
Exit Strategy Plan: A step-by-step plan on building a practice worthy of a wealthy exit strategy when the time is right for you
PT-Rx Model: The business model for private practice owners to combat consolidation and plan for the future of PT.
And exponentially more…
Talk to a FYZICAL Advisor to learn more or register for a Discovery Day event.