Podcast: Finding fulfillment and a fully booked schedule in a cash-based practice
Wednesday, September 02, 2020
During PT school, Valerie Schwalbe discovered she had a passion for pelvic physical therapy. So, right after graduation, she started a pelvic health program in an outpatient orthopedic clinic and ran it for two years. Over time, she realized her dream of a standalone, dedicated pelvic health clinic where patients could be completely comfortable wasn’t really possible within the insurance-based business model.
Two years ago, she finally opened her own private-pay pelvic health practice. Incredibly, her new clinic was 75% booked within just three months! Despite all the craziness of 2020, Schwalbe’s practice continues to grow, and she utilized my Automated Hiring system to hire her first physical therapist as well as admin support.
In this interview, she shares the story of how she got started, what worked and what didn’t, and details on pricing, HR, marketing, and office space rental (and pitfalls to look out for).
More specifically, we discuss these topics related to her pelvic health practice:
- How she knew the cash-based model was the option that would allow her to create the practice of her dreams.
- Which information and resources she found most helpful for managing the risks as she prepared for launch.
- How she was able to overcome her fears and uncertainty to gain the confidence she needed to make the jump.
- The specific strategies she used to manage the transition from employee to business owner — which happened much faster than she’d imagined.
- An answer to the dreaded “do you take my insurance?” question that actually fosters strong relationships.
- How she made telehealth work in her highly sensitive niche during the quarantine and how she’s planning to leverage this capability long-term.
- What Valerie learned from some recent HR challenges that will make it easier to hire and onboard new employees.
- How she structured compensation and scheduling for her staff PT, plus plans for the future.
- Word-of-mouth marketing approaches that help keep the practice booked weeks or months in advance.
- The troubling events during construction on her office space and why that led to her opting for an in-office admin instead of a virtual assistant.
- What you should consider when negotiating for office space in order to minimize unexpected expenses and protect yourself during the term of the lease.
Resources mentioned in this episode:
- Best exercises for gluteus medius strengthening
- Pectoralis minor: Far from a minor problem
- The importance of hip internal rotation
- Millions of high school students set for success: Celebrating Career and Technical Education Month
- The top 5 exercises you should be doing
- 17 of the most specific, bizarre ICD-10 codes
- The addictive eye drops that kill
- Trails for two-wheelers: A look at the United States Bicycle Route System
- Reimagining the workplace for the post-COVID era
- 5 reasons to build a healthcare brand for millennials
- How connected smart cities will help prevent future pandemics and more
- A strategic quotient for the board
- CES 2021: The year of staying home with gadgets
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