The Future of Physical Therapy Part 2

What are the benefits and challenges of transitioning from a traditional insurance-based model to a self-pay or out-of-network model in physical therapy?How do concierge physicians handle referrals and what practices are used to maintain and nurture these relationships?In this episode of The Dave Kittle Show, Dave Kittle talks with Dr. Michael Gorman about shifting physical therapy practices from insurance-based to self-pay and out-of-network models. They discuss the importance of identifying a practice's niche, building connections with concierge physicians, and using social media platforms like Instagram and TikTok to inform potential patients. They explore the advantages of the self-pay model, including better cash flow, patient commitment, and the ability to better compensate and keep top talent. They also discuss the need for more business education in physical therapy programs and the changing dynamics of healthcare reimbursements.You can connect with Michael Gorman at iMove PT to learn more about franchise opportunities at https://imovephysicaltherapy.com In this episode, we cover:[00:44] Referral Pads: To Use or Not to Use?[01:09] Building Relationships with Concierge Physicians[02:15] Monthly Referral Review Process[03:03] Effective Communication and Drop-off Tips[06:24] The Power of Social Media Videos[13:22] The Future of Physical Therapy: Self-Pay Models[19:51] Medicare Audits and Compliance[25:04] The Benefits of Self-Pay from the Start[28:38] Business Training for Physical Therapists[32:44] Conclusion and Final ThoughtsDo you want to pick Dave’s brain? Ask him a question about practice valuations, offers, or potential partnerships? Click this link and book a call with him on Clarity: https://clarity.fm/davekittle/expertise/physical-therapy-merger-acquisitions-valuations-healthcare-marketing-salesConnect with Dave on:Email: [email protected] Instagram: @davekittleLinkedIn: https://www.linkedin.com/in/davekittle/ orCall (646)-781-8884LinkedIn: https://www.linkedin.com/in/davekittle/ orCall (646)-781-8884 Hosted on Acast. See acast.com/privacy for more information.