Archive for the ‘Increasing Practice Profit’ Category

How To Use Medical Fitness To Attract More New Patients

How To Use Medical Fitness To Attract New PatientsMost physical therapists and chiropractors who are in private practice find they need multiple ways to attract new patients.  While patient referrals from other healthcare practitioners and patients are always a preferred type of new patient, physical therapists and chiropractors must still market for additional new patients if they want to grow and maintain a healthy profit margin.

And with ongoing reductions in patient insurance reimbursement, as well as the impending changes in healthcare reform starting to take place, attracting more new patients to your practice takes special strategies that are guaranteed to work month in and month out.

One of the best “game changing” strategies to attract more new patients and increase practice income has been to offer a cash-based medical fitness program as part of your practice services.

Get Ahead Of The Wave: Your Colleagues Are Already Prescribing Exercise

A new report from the Center for Disease Control (CDC) this month shows that more patients are getting pescriptions for exercise from their doctors.  Are you one of these healthcare practitioners who see a vision beyond the traditional “standard” in treating patients? I hope so.

“Trends over the past 10 years suggest that the medical community is increasing its efforts to recommend participation in exercise and other physical activity that research has shown to be associated with substantial health benefits,” states the report, from the CDC’s National Center for Health Statistics.

In 2010, 1 in 3 adults who saw a doctor or other health care professional was advised to increase their physical activity as a means of maintaining or improving their health. That’s a significant increase over 2000, when less than a quarter of consultations included such advice.

What Does This Mean To You?

Considering a Fitness Franchise as a Wellness Program to Your Practice? Think Again…

Most healthcare professionals that I talk to love the idea of incorporating a medical fitness program into their practice, because of the obvious benefits of being able to really help their patients be more healthy and adding an all-cash revenue stream to their income.

This much is pretty consistent within the healthcare industry.

However, there are differing views on the best way to make this happen, and I must say — one of the ways really is WAY better than the other.

Basically, there are two options: 1) start your own program from the ground up using a proven "template" or 2) buy some sort of developed fitness franchise and adhere to their exact rules and regulations.

The second option might sounds nice, right? At least, it sounds like less work. But the truth is there are some major downsides to buying a franchise.

Crucial Medical Fitness Component #5: An Automated Cash Billing & Collection System

For the billing of your medical fitness program, we recommend you use an automated recurring billing system.  This is a win/win situation for you and your patients.  Your patients get better, more permanent results because they end up staying in their program for a longer period, and don’t have to be bothered by writing checks and remembering to pay you on time.

You, on the other hand, start building a predictable monthly cash revenue stream.  As long as you are providing an excellent service and program, patients will stay enrolled and you will have an additional profit center in your practice.

Here are two simple rules to remember about billing:

* You can’t sell single exercise sessions, and

* You can’t sell small blocks or packages of exercise sessions.

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