Declining Insurance Reimbursements – What A Small Town PT Clinic Can Do To Fight Back

by · 23rd January 2015

Rate this post

Let me tell you a story.

A few years back now, my clinics profit was completely at the mercy of a few big insurance companies, who, because they continued to drop fees and reimbursements, made it harder and harder for me to make a living that my skills deserved.

It meant I was working twice as hard, just to take home the same pay cheque, not to mention seeing less and less of my family.

Is that the kind of problem you’re having in your business right now????

You know what I mean…

Working more hours, feeling more rushed and spending less time with patients (and family), and all the while watching your clinic profit flat line!

(I used to feel just like that too).

And at first, I thought I had no choice but to do like everyone else did (and is still doing), and accept it.

But thanks to everything I learned in the seminar halls of the USA, I figured out how to move my clinic away from becoming a “starving insurance slave”, to one that is able to generate 85-90% of it’s own patients every month

– AND –

Ask for cash upfront.

And the way I see it, if decreasing insurance reimbursements are affecting your profits, you’ve got three options:

1.) Do nothing and accept hassle and crap from insurance companies who don’t value what you do

99% of pt’s will accept this and do it despite the insurance companies continuing to make millions of dollars in profit.

Yet, isn’t the whole idea of setting up your own business so that you could make your self rich, and not someone else?

2.) Create an automated marketing system which delivers an *abundance* of new patients to your door 

This means you’d be able to move from seeing, say, 40 patients per week, up towards 100 – and employ another pt and an assistant and let them do all of the work for you and increase profit that way 😉

3.) Create an automated marketing system which delivers an *abundance* of new patients to your door – and set your own prices and demand CASH!

The idea is simple: have a situation where by more people call your clinic asking to work with YOU (than you have time for), meaning you can confidently begin to ask for cash and set your own prices because you WANT some of those people to say no, and go some where else.

It’s not for debate that at least 20% of everyone who you’re seeing in clinic today WOULD transition to cash pay if you:

a.) Told them and gave them the option.

b.) Made the “reason why” (they should pay cash) compelling enough. i.e. deliver a GOLD treatment option/service – one that the insurance pay can’t have and is far superior and includes many more benefits.

It’s a mathematical law of EVERY business, that there are always 2 out of every 10 people who want more than you’re currently offering.

Offer it to ‘em.

Give it to ‘em.

Then bill ‘em. Instantly.

Anyhow…

I assume that making the insurance companies (and now, the governments life easier), isn’t what you want to do.

So let’s talk about options 2 and 3.

The key word is *abundance*.

An abundance of patients.

An overflow.

More than you need.

Something you will achieve if you switch your marketing away from “brand awareness” and chasing doctors all the time, to something called “direct response marketing”.

Doing so will be a game changer for you, your family, your clinics profits and will undoubtedly help you achieve your main business goal.

Want to know more about how to use “direct response marketing” to make more profit in your business?

If so, look out for my next email to you when I’ll reveal all. 

Click Here to Subscribe to Paul’s Marketing Tips Email List >>>

In the mean time…

HIT REPLY to this email and let me know what you’re thinking…

Is a cash transition something that you’re hoping to achieve some time soon?

If so, what have you tried so far to get there?…

Have you been left frustrated by marketing efforts which have so far failed to deliver the number of patients you need?

Let me know by reply.

Talk soon.

Paul

P.S If you feel like you would benefit from talking to me personally, then just go ahead and fill out this form:

Yes! I Want Some Help To Quickly Overcome My Biggest Marketing Challenge >>>

Every week I give away one FREE strategy call where I work with you for 60 minutes to help you solve your biggest business challenge.

Get it before anyone else, here now:

Yes! I Want Some Help To Quickly Overcome My Biggest Marketing Challenge >>>

===

To receive regular marketing tips emails like this, join Paul’s email list, here now:

Click Here to Subscribe to Paul’s Marketing Tips Email List >>>

About Paul Gough

PAUL GOUGH is one of the top Marketing and Business Coaches in the physical therapy industry and his Systems are helping clinic owners all across America run more profitable clinics. He is a published Author, Newspaper Columnist and before his stunning success in business was hired by top professional soccer teams. HIS SUCCESS STORY is one that inspires many pt's around the world - at the age of 26 Paul QUIT a high profile job in professional soccer to begin his own clinic. He had NO money, NO business or marketing skills and NO experience - and yet now owns and runs 4 pt clinics and has a proven track record of growing a physical therapy business from 0 - $2m in record time.
Want more referrals from direct access at your physical therapy clinic? Download PDF now