Don’t Be Afraid of the “S” Word: We’re all in Sales I was talking with @Jerry_DurhamPT at the APTA Combined Sections meeting in San Diego, CA in January and we were discussing the fact that most physical therapists wouldn’t see themselves as salespeople. Jerry recommended a book to me by Daniel Pink called To Sell is Human, which I just started reading. The basic premise of the book is (pretty evident from the title) that we
Read More...Your Physical Therapy billing software, or your physical therapy billing service most certainly help you keep your finger on the pulse of your cash flow. The simplest way to measure and manage your cash flow is with the Days A/R metric. Simply put, Days A/R (or Accounts Receivable Days) is a measure of how many days on average it takes to collect the revenue for the services your clinic provides. Your Accounts Receivable is the total balance owed to
Read More...I just got off the phone with a business owner who’s facing a 16% reduction in fee schedule from his largest payer who accounts for 17% of his overall visits and 20% of overall revenue. He happens to be in a region that is still experiencing a relatively high (compared to the National Average) payment per visit of nearly $100 per visit. Unfortunately, this was one of his best payers: paying an average of $117
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Every business can be reduced to a handful of numbers that can tell you at a high level how your business is performing. These key performance indicators become the guages on the dashboard of your business that can tell you when you need to pay special attention and potentially think aobut making changes. As the old saying goes, “if you can measure it, you can manage it.” The first step in the process of business
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