E526 | Current Cash-Based Practice Trends

In today's episode, I wanted to share with you all some of the trends that I am seeing right now in the world of cash-based practices. I get to see a lot of what is happening at the tip of the spear when it comes to these practices by having the opportunity to work with so many great business owners. I hope you enjoy this information!

• Clinicians are opening businesses earlier in their careers
• The scary step of getting your own space
• Systems along with administrative support

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Podcast Transcript

Danny: So I was having a conversation with one of our staff members about documentation and he had come over from a in-network practice that he was working at and he was talking about just how long it would take him to document and click through and the workflow and how, just how time consuming it was and how much easier it's been with the software that we use, which is PT everywhere.

And I know for us, we're very aware of. Sort of time leaks within our staff and our own schedules. And it's just one of the worst things you can do is just waste time on things when you could be doing them more efficiently. One thing for us is we have to document. It's something we need to do and you need to do it as efficiently as you possibly can because that's where you're gonna save a lot of your time.

We were seeing our staff members save upwards of an hour a day as far as cleaning up his documentation, making it more efficient. What if you got an hour of your day back just from documentation? What if all of your staff did the same thing? Highly recommend you take a look at PT everywhere.

It's been a huge time saver for us and really has made a big difference in our efficiency of our practice. You can check 'em [email protected]. I think you're gonna really like what they have to offer. So here's the question. How do physical therapists like us who don't wanna see 30 patients a day, who don't wanna work home health and have real student loans create a career and life for ourselves that we've always dreamed about?

This is the question, and this podcast is the answer. My name's Danny Matte, and welcome to the PT Entrepreneur Podcast.

What's going on guys? Doc Danny here with the PT Entrepreneur Podcast and today. I want to go through the cash-based practice trends that I am seeing right now. So this is something I pay a lot of attention to, primarily because it's really all that I'm focused on at this point is the business side of, cash and hybrid practices and really focusing on where opportunities are mainly for the people that we work with.

Within our mastermind, those are the people that we work with. The most closely, the ones that are like the tip of the spear when it comes to information and data and consolidating that and really sharing that across all the businesses that we work with. And, what I wanted to do was be able to share from a high level perspective what I'm seeing in the industry because there's a lot of people that have their opinion of Cash-based practices, hybrid practices, physical therapy, clinical work, just in general as far as business is concerned.

And I don't really know where people get information from or data or whatever, or how much they're actually working with businesses versus just looking at information that is probably old. This is not something that is published. This isn't something that.

Is widely available. For me I think this is relevant if you have a practice or if you are thinking about starting a practice because is in real time, this is what's going on. Now with, we work with over 200 businesses and actively and have worked with many more than that previously, but just within the community work with, on a day-to-day basis, it's about 200 businesses all around the country and some in other countries as well.

I'm gonna share a few things I'm seeing with you. Really, there's five sort of key trends that I'm seeing that, are good to be aware of and I think in a lot of ways are really positive depending on how you look at it and what side of the business that you're on.

The first one is that I'm seeing more and more cash-based practices be started by clinicians earlier. The amount of people that I saw starting cash-based practices or hybrid practice within a year of graduating from school about five to six years ago, when I first started doing some business consulting work was basically like non-existent.

No one was doing that. Or very few people were doing that because in a lot of ways, they just didn't have the clinical expertise or confidence to be able to, charge people cash for services and be able to feel comfortable that they could get them an outcome, right? They had to learn how to be a great clinician before they, they could go and start a practice.

And in many cases that probably still should be the case, but, We are seeing clinicians that are much younger, start either straight outta school or within a year of graduating that are really working really hard early on to become a great clinician. And they get to where most people get three years outta school within a year, and that gives 'em them enough confidence to want to go into, starting their own thing.

The other thing that they typically have is some sort of competency in a niche. That they had prior to going to get their degree. For instance, let's say somebody was an avid runner or a competitive runner, and they decide they're gonna go become a pt, they go to school, and they're still like light years ahead of most people as far as working with runners.

And they're starting to piece together the like injury. Side of things, how to treat those things, but they're a great running coach or they can analyze running really well. So they have this preexisting skillset that basically bumps them up in the ability to start a practice because they have a subject matter expertise, amount of knowledge.

In this the specific niche prior to be getting the degree that gives them credibility and the ability to see people in that manner. I'm definitely seeing a lot of that and the fast success we're having with people. Typically it comes when they already have preexisting information because of coaching or being an athlete in a specific niche prior to then opening a business in that.

If that's not you, if you don't have any, specific niche experience or information, you're probably gonna have a much harder time starting a practice like this right outta school because you're going to have to learn that information as well as how to get people out of pain and back to the activities that they want to do, right?

The ones that are. Successfully doing so within a year of graduating. They have this preexisting information. They also typically are incredibly confident maybe more so than they should be. And what I mean by that is they're very confident that they can work with people and get them results even though they may not actually have the reps to, and clinical expertise to actually do it.

But. It's weird, it's people don't really care as much. Like they, people will gravitate towards somebody that is confident in what they think they can do for somebody over somebody that is not confident, even though the person that is not as confident might be that way because they know they don't know everything.

And the person that is conf. Overly confident might be that way because they just don't know what they don't know. So it's a catch 22. But either way we're starting to see a lot more of these. And what we're seeing with people that are, they have this deep knowledge prior, they're, they have limited clinical expertise.

They're figuring out as they go. If they can figure it out as they go, they'll, they do great. If they can't, they tend to have a, they tend to struggle because they're not getting great outcomes and they're not getting that snowball effect of people then sending all their friends and families to you.

Cuz you're really not that, just that good at what you do, so you'll know in some ways just based off of how your business does early on and whether you're getting people sent your way or not. Cuz if you're mediocre, no one's gonna refer to you. And if you're amazing, then you're gonna get.

Everybody and their brother is gonna send their friends your way or and their family. So that's number one. Number two, we are seeing basically across the board, almost everybody go through price raises and have little to no effect on consumers a willingness to pay. This is a time that.

At least, I don't know if I was alive when inflation was terrible in the eighties. I was born in 85, right? So inflation is bad today. It was worse in the eighties. So maybe I was a little baby. I don't know when that was going on. But I definitely didn't have a business where I was, I had a servers based business that that I was running.

So what we're seeing now, Is price fluctuation is less of a problem on the consumer side because of the expectation that things are gonna be more expensive regardless. It's, all around, you can't go anywhere without somebody talking about inflation or whatever. It's a real, it's obviously a real problem.

It's causing an increase in costs of basically everything. But that also for our. For our businesses as they go through price adjustments it's almost more acceptable right at this point to do and in a lot of cases you have to because, you have people that you employ that also need to make more money for their quality of life to not go down.

And in order to do that, you have to raise your prices. So we're definitely seeing Price affects price changes not affect people really at all. And in most cases, if you do it right, it won't. But even more it's just like such an easy thing to just to blame inflation. Yeah. We have to, our prices win.

Our prices have to go up. Inflation, that's it. That's probably all you have to say. And people are like, oh yeah, I get it. Okay, cool. And that's just the way it is. And the nice thing with these types of businesses is, we can do those price adjustments and really the difference is pure.

Profit. It's not it, there's any increase in cost to fulfill, aside from whatever you're paying your people. So it's really nice versus if you had a juice store and you had to buy oranges and you had to increase your prices, the reason you're increasing your prices is because oranges are more expensive, and so like the cost of the goods goes up, so you have to have a price increase, but relatively, you're not making money, more money. So with us, because he's a service-based business and we're not selling anything that's a physical good. That price increases in a lot of ways, much more profit driven than just like maintaining your profit margins.

So hopefully that makes sense. But the point is price raises are easier now than ever. So if you haven't done that recently, probably should. Number three, big hospitals are trying to figure it out. This I found, I thought this was interesting. There's actually. Two hospitals in Atlanta alone that I'm aware of that have stood up.

These I guess they're calling these like elite rehab sort of performance units. It sounds like a special operations group. It's just basically a cash. Element a more performance driven element of their hospitals that are trying to capture cash paying patients in particular some of these sort of return to sport niches that fall through the cracks and end up going to a lot of cash-based practices.

Especially let's say you're like ACL post-op rehab specialist, right? And you may only get X amount of visits insurance wise to work with somebody. And then from there, maybe they don't wanna pay cash to go, to your clinic, but they probably will go somewhere else. That looks like it's more one-on-one performance driven return to sport.

So I've seen this now two major hospitals in our area. They're trying to stand these up and I've even had people from these reach out to me for, trying to figure out what to do. I'm not helping 'em cuz it's, I don't wanna help a big hospital. But, the reality is it's happening and they see it and they need to increase their profitability.

As well, and I think we look at these big hospitals like, oh, they make so much money. But man, a lot of it is it's really not that way. Especially, I had an interesting conversation with my brother and his wife, and they were talking about just, how. How much it costs to run hospitals.

And one of 'em works at Johns Hopkins. The other one works at the University of Maryland at shock Trauma. And they're both in emergency medicine and they said that, the cost of trying to save somebody's life, even if that is probably unlikely to happen, like. Someone who's very old, who is heavily injured.

I in other countries, it's triage. It's like, all right, sorry. They lived a good life, but we're not running a full court press on this person to try to save their life. And it's because it's a cost thing. It's a socialized medical system. They have their own rules about who gets what types of care. And we don't, right?

So a lot of these hospitals are they're not making a ton of money. In fact, a lot of them are, going the other direction. So for them to look for other, Revenue streams to help bolster the hospital's, financials. Like it makes sense, so keep in mind, this is something you we're years ahead of where they're at, but they have a lot of resources and if something's working, they're probably gonna try to figure it out.

So even more of a reason for you to really get better at running your business, really developing your brand. Building a lot of customer loyalty, actually learning how to run a business the right way. Because it's not just other people starting practices that are that, that are eventually going to, try to take market share or share market share.

It's also going to be big hospitals that maybe you don't think are a competitor right now, but eventually they probably will be in a much more significant way. So that's number three. That big hospitals are trying to figure it out. So I thought that was interesting. And they're struggling in a lot of ways with it as well.

So funny to see that too. Number four more scale is happening now than ever. When I first got out of the Army and opened my practice, I was a hundred percent certain that I would just stay in this little office that I had, that I was subleasing in this CrossFit gym for basically the entire rest of my career.

That was my yeah, that was my business plan. That's what I thought I was gonna do. And I, and a lot of it was because I had people that I that I knew that were business, People in the PT world successful, clinic owners that told me, Hey, you can definitely make a cash-based practice work, but.

You're only gonna be able to work with super affluent people, and you're only going to be able to use your, your clinical expertise and reputation to generate business, and you're never gonna be able to grow past yourself. And I was like, all right, that still sounds better than the alternative that I was looking at.

So I, that's exactly what I signed up for. And I didn't know any different and they didn't really know any different, but they were wrong. And you can grow these past yourself. We did it. We've helped a lot of people do it, and it's interesting to see now just how many of these businesses are scaling qu quicker than I was able to do it, but also in a in a more organized manner.

Obviously a lot of this has to do with, we've now been, iterating on this business model for almost 10 years. So it's not like what we did 10 years ago is what I would recommend doing today. In fact, it's gotten a lot. It's just become a better business model. A better business opportunity, lemme put it that way.

And one of the variables that we track quite a bit within our Within our Mastermind is a number of businesses that are either moving into a standalone space or are growing into a bigger standalone space or adding on to the one they have. So I think one of the hardest transitions to make yet most important transitions to make is to go from a subleased office to when you have your own space that you can then have multiple.

Clinicians and other services all under the same roof. Your rules, your patient experience your customer experience, your branding, your culture, everything is yours. E every, you define everything. You can't do that when you're subleasing an office in a gym. It's a great place to start. It's not a great place to stay long term.

And we started to see a lot of the flaws in, that type of an office that, that, that pop up. Especially as people start to become a bit more sophisticated with how they're running their businesses. So what inevitably happens is they get frustrated. They then move on to, looking for their own space.

It's a very scary step. It's a step that I think most people Just don't do because of the fear of increasing overhead, signing a personal guarantee on a lease for X number of years, and just the logistics around the whole thing about how to find it, how to build out a space, what kind of equipment you need.

It's a massive undertaking, right? Like it's definitely a big thing that We help people with a lot of handholding as we go through that because there's so many variables to making sure you're not getting screwed over on a lease. You're in the right space, you have the right terms, you have the right size.

You're not missing anything. You have the right clauses in there in case something bad happens. You get the right equipment, in the right budget and you finance it correctly. There's a lot of stuff, but if you can make that transition and you can grow into a space that allows you to have, Two to three other clinicians work in the, in that office at the same time with you.

Depending on where you're at, the average sort of market that you're looking at, probably somewhere, closing in on a seven figure practice. Just net footprint. So you go from an office where it's just you to a space where you really don't have to make any changes as far as a physical space is concerned to, to hit or be around the seven figure mark.

In growth, top line revenue, that's not net profit, that's what your business is making. And from there it's just in filling with people. And the right amount of business, obviously new business that you're developing and and generating each month to be able to, have these service providers fulfill on.

But that's just business in general, right? So you have to market, sell, and hire and effectively, and then, train your people, manage your people, be a leader for your people. But you need the space. You can't scale these businesses unless you have the space. And the people. And you can't hire the people until you have the space.

You could. It's a terrible idea. But you need space for these people to work in otherwise. They can't, unless it's a remote clinic, which there's obviously like significant restrictions and difficulty associated with some of that, depending on what you do. But for most people at brick and mortar location is what they're gonna have.

It's, I think, the easiest to scale of the two, and it is a very scary step. But what we're seeing is more and more of our businesses that we work with are going through transitions to standalone spaces right now and earlier. Many of them are making that transition between the one to two year mark of being in business and setting themself up at, let's just call it the two year mark to buy year five.

They're really gonna max out that facility. And and being a place where, they have a rock solid business that is is can run without them necessarily being involved in the day-to-day. That's basically what's happening. So the fact that we're seeing that is great.

And the reason that we're seeing that is because there is growth. There are more and more people that are looking for services like this, they're. Are better business models that we are wrapping around this systems that we're learning about on the front end, recurring revenue, client experiencing.

All these things are just making these businesses really solid in many different demographics and markets, niches. It doesn't really matter. It's very similar to plug in these different niches within the same business model. It just works. So more and more of that is happening right now.

And if you look around where you're at, I would assume you're probably seeing similar things with practices that are that are cash-based practices, that are small, that are. Making the transition to, to grow into a standalone space. And if they're not, they probably just don't know how to do it.

But it doesn't mean that it's not gonna happen. They shouldn't, because these businesses are becoming a lot more legitimized than they were 10 years ago in regards to people that are really just looking for these, and insurance continues to suck, right? So that for us is in some ways a positive.

It's a negative overall. Premiums suck. Deductibles are higher but people have more skin in the game, so they're looking for better choices as an informed consumer. And we get to slide right in and say, Hey, guess what? We're better over here because we do this, and this is what it costs.

Transparent. Boom. It's a, it's just, it's such an easier sell than it used to be. It's cuz people were looking for it. So the fourth one is more and more people are Opening standalone spaces in scaling, now than I've ever seen before. So number five you're gonna have a hard time staying small.

You are gonna have a hard time staying small. And I not a ton of this is happening right now, but some of it I have seen where Moderate size cash-based practices are acquiring very small practices. And I wouldn't even say acquiring cause they're not really buying them. There's a term in software they use, it's called acquihire.

Where they basically acquire, hire you but basically just bring you into the team and you bring your skills, your network and your resources in, and then you just function within a bigger opportunity basically. And that's what I'm starting to see more and more of because you have to keep in mind that the vast majority of the people that.

Went to get an advanced degree in some sort of clinical degree. Did not do so with the intentions of ever starting or running a business. They're nerds when it comes to the human body. They love that shit and they want to do that. They wanna be really good at that. But for them to work in the environment that they need, in particular, if they wanna do a lot of one-on-one work and more detailed work with people, these cash-based practices make a lot of sense to allow that plus the opportunity to make more income.

Is there, so we're seeing a few things, right? We have clinicians that wanna work in a setting where they can just make sure that their clinical skillset set can be used to, the to his best, advantage in terms of like full capacity of the clinical skillset that they have accumulated, that they can use it and they're not limited or constrained by some may not wanna get better, or insurance saying that they can't.

See them anymore or having to stack too many people on top of each other where they don't get enough time with people to be able to make the true changes that they want. So that's like the artist of the clinician world. They wanna be an artist, they wanna be great at what they do.

They're frustrated that they can't do it, so they decide, all right, I'm gonna open a cash-based practice. That's one of the drivers for these folks. Some of these people are seeing and many of you are probably experiencing, dealing with a lot of student debt, and so you have this, 500 to 2000.

Plus dollar a month student loan payment, which is basically, a mortgage and you're taking a job where you're making 70 grand and you don't know like, how the hell am I gonna do that? The numbers don't really add up. So when you look at the business model, if you can make. Two to three times as much in a cash-based practice as you can working for somebody else.

And it's fairly rori low risk. A lot of people are gonna, yeah, they're gonna do it right and say, yeah, I'm gonna take that, I'm gonna take that chance. And they go for it. But what they don't realize is, and what, maybe you haven't realized yet if you're in that stage, is that. To get to where you're, you've replaced your income.

Most people can do that if they just have the desire to do and they really try now to get past that. So for you to get to where you're at, let's call it 15 visits a week, most people can do that if they really, decide to really try. Or to get to where you're at 25 or 30, where you're making really good money as a single provider, you need much more organization.

You need systems, you need to have administrative support. You need to have things in the business that are business systems and you need to have an understanding of how to run all that stuff. And if you don't, then you're always gonna be doing everything yourself. And it's very chaotic and unorganized and eventually, here's what happens.

You either A, seek out some help because you know you need it and you end up, making it. B, you decide this is not what I thought it was gonna be, and you start to look for other options. Some of that might be going back to and working for other people. We've seen plenty of that. Or see you start looking for people that you can partner with in some way that can.

Offload some of the burden that you don't like to do, and in a lot of ways, that's the business side. So we're seeing this now over and over again where you know, really good business owner clinicians are able to. Acquihire, if you were to call it that. And as far as that goes, acquire, hire a clinician that has a pretty good skillset, a pretty good reputation, sucks a business and allows them to really be a great clinician in that model.

And then handle the business stuff back and they can go back to being the artist of a clinician that they really want it to be. And and really focus on patience. And they're happy, as happy as hell. But it's a great opportunity for a. Savvy business owner to be able to swallow those people up, give them a great opportunity, and they expand their market share.

And I'm seeing this happen now enough to where I think it's worth, stating, because you might be one of those people, you might be asking yourself, where do I fit? Is he talking about me right now? I don't know. Which one are you? Are you the one that wants to grow a business to a point where it can run without you?

Because. Keep in mind not everybody wants to do that. Everybody thinks they want to do that, but not everybody wants to do that. I can tell you that. Some of you should just be amazing clinicians in a setting where you can be amazing, help people get amazing results, and that is what you thrive in.

That's what gives you energy. That's what you love. You love clinical excellence. You know you love going to con ed courses. This is where I started. This is exactly what I was obsessed with. Obsessed for years when it came to clinical expertise, and the only reason that's still something that's not something that I do anymore is because.

I found what I thought was a opportunity that allowed me to help more people in our profession, which then allows them to help more people. And the net effect of that is massive. So for me, just to focus on one person at a time when I could really take up, this mission that we're working on now, I felt was selfish and I gave up clinical work even though I really liked it because, I like the mission that we're that we're on right now, the people we're working with just as much.

I really do. And, but not everybody is gonna necessarily do that, and it's fine if you just want to be a great clinician, expert, clinician. I. There's gonna be a place for you in these practices. And if you feel like you have to build your own business, but you hate business, like you're going to eventually start to resent what you did, or you have to figure out how to run a business.

And some of you maybe you're super business savvy and you don't even want to treat patients anymore, and there's nothing wrong with that either. Cause we need both of you. We need. We need people that want to grow and run businesses and really build rock solid places for people to work. And we need people that need to be amazing clinicians to be able to get amazing results to help the actual people that we're trying to help.

So I see some of these clinicians that like, they just want to be amazing clinicians start their own practices and eventually they're like, damn, this isn't what I thought I was signing up for. And and those are the people. That should be rolled into better cash-based practices as far as businesses are.

Cons business systems are concerned. Organization structure, opportunity. There's nothing wrong with that's natural. That's just the way that it goes. And it's better for that to happen than for you to be disgruntled and go back to a hospital position that you hate, working with people that, you don't get a lot of energy out of working with.

And so I see this as a natural progression of what's gonna happen. There's consolidation that's occurring. The best businesses are going to then swallow up the ones that aren't so great. They're gonna roll them into it. They're gonna be even bigger. They're gonna have more market share. They're gonna be more difficult to uproot and they're gonna need it because if hospital clinics.

Are starting to work towards, some of this fee for service model, cash model. And they have a lot of resources and they have a lot of physicians and they ha they have a lot of brand power. That's gonna be harder to compete with. So we're gonna need bigger cash-based practices in order to do so this is the evolution that I see happening right now. I hope that, this isn't me just rambling for 30 minutes, that this makes sense because. This is where we're trending and we've gone from when I started, nobody knew what the hell I was talking about. They actually got angry when they found out that I didn't take their insurance because they thought that it was like just, that's just what we were supposed to do and that their insurance was awesome, even though it sucked.

And just trying to educate people on what the heck I was doing, that was the biggest battle. Now, fast forward let's go five years from there. People understand what's going on and. What we see then is more and more clinicians are deciding, all right, cool. I wanna try this too.

And so you have a lot more individual practices that start to pop up. Part-timers, a lot of that. So there's a little bit more competition associated with that. That was, maybe five years ago. Now we're starting to see there's a lot more cash-based practices that are taking market share from mainly in-network practices, honestly, and potentially none.

None because. They're just getting people that would've never have gone to in their practice to begin with, but they're starting to overlap on some of the other cash-based practices, and what you're gonna see is the best cash-based practices will capitalize on swallowing up. The, competition that's not as good and probably absorbing them.

If it makes sense, and that's the next direction that I see. And then I see that those are gonna grow even bigger. It's just a matter of time until we have like a national level cash-based practice. I don't think we're far away from that. Definitely regionally, we're already seeing that happen as well.

So what does all this mean? To you, understand what stage you're at, understand more about who you are and you know what your goals are. And more than anything, you gotta know what you don't know, so if you're a great clinician and you suck a business, you're either gonna get swallowed up by somebody else, or you need to figure out how the hell to run your business.

That's simple. What are you interested in doing? Prioritize the things that you need to get better at. In order to really grow the business to what, whatever it is that the goal is that you have for it, and not everybody's is the same, but what I can tell you is staying small is gonna be harder.

Just because you're gonna have to compete against bigger, more sophisticated businesses. Every single year. That's what that's what's happening, including hospitals. So if you just decide, Hey, I just wanna stay small, that's cool. But yeah, I think in five years it's gonna be a lot harder than if you have, a few clinicians, you're a little bit more, Profit, margin driven you have safety in numbers and and you can really have a business that is solid and can tolerate some of these changes that are gonna occur in the marketplace cause it's gonna happen.

So overall I see the direction the trend of these businesses, it's incredibly positive. And people are down in our profession and have been for a long time, don't listen to those dumb asses. They don't know what they're talking about. All they do is just complain about shit. All I see is a, an abundance of opportunity.

I see a ton of people that are killing it. Outside of the insurance world and doing so because they're just really good at what they do and they understand how to run a business. They understand how to find people, how to sell, how to fulfill, how to give a world-class, experience and service. And how to repeat that with other people and find and bringing really good talent to their team.

That's what I see, and I see that happen with hundreds of businesses all over the country and other countries as well. So it depends what you're looking at. If you wanna pay attention to all the negative stuff about insurance reimbursement decreasing and this and that and cool that is happening, I'm sure.

But it doesn't affect us in any way. We're insulated from it cuz we decide not to play that game. For us in this cash and hybrid world I just think it's, there's so many opportunities and especially over the next five years, I think it's gonna be vital to capitalize on that because after five years, I think it's gonna get a lot harder.

To start grow and scale these because you're gonna have a lot more sophisticated people that are in the game, that have been in the game and. It's not gonna be as easy to get started. Let's just, lemme just put it that way. Just five years ago was easier than it is now.

So that's the direction that I see the cash world trending. As of right now, I'll try to share more of these updates if you guys like them. Because, like I say, we do have a lot of market trend data that we're looking at and hopefully it helps that it, that we can share some of these things with you.

But as always, guys, I appreciate you listening so much. This is something that we've done now going on five years straight. And don't plan on stopping anytime soon because I know how many of you listen to it, how much you get out of it. I hear from people all the time about it and it's crazy that people have been listening to this.

So I hope you appreciate You know this, as much as I appreciate you and and you listening and hopefully taking action on what we have to say, cuz I, I just, I want you to win. I want you to have the business that you want, I want you to make good decisions and and be able to have financial independence as well as career satisfaction.

That's the win. That's what we hope everybody has. So as always, guys, thank you so much for listening and I'll catch you next week.

Hey, Pete, entrepreneurs. We have big, exciting news, a new program that we just came out with That is our PT Biz part-time to full-time, five day challenge. Over the course of five days, we get you crystal clear on exactly how much money you need to replace by getting you. Ultra clear on how much you're actually spending.

We get you crystal clear on the number of people you're getting to see, and the average visit rate you're going to need to have in order to replace your income to be able to go full-time. We go through three different strategies that you can take to go from part-time to full-time, and you can pick the one that's the best for you based on your current situation.

Then we share with you the sales and marketing systems that we use within our mastermind that you need to have as well. If you wanna go full-time in your own practice. And then finally we help you create a one. Page business plan. That's right. Not these 15 day business plans. You wanna take the Small business Association, a one day business plan that's gonna help you get very clear on exactly what you need to do and when you're gonna do it to take action.

If you're interested and sign up for this challenges, totally free. Head to physical therapy biz.com/challenge. Get signed up there. Please enjoy. We put a lot of energy into this. It's totally free. It's something I think is gonna help you tremendously, as long as you're willing to do the work. If you're doing the work and you're getting.

Information put down and getting yourself ready to take action in a very organized way, you will have success, which is what we want. So head to physical therapy biz.com/challenge and get signed up today. Hey, real quick before you go, I just wanna say thank you so much for listening to this podcast, and I would love it if you got involved in the conversation.

So this is a one one-way channel. I'd love to hear back from you. I'd love to get you. Into the group that we have formed on Facebook. Our PT Entrepreneurs Facebook group has about 4,000 clinicians in there that are literally changing the face of our profession. I'd love for you to join the conversation, get connect with other clinicians all over the country.

I do live trainings in there with Yves Gege every single week, and we share resources that we don't share anywhere else outside of that group.So if you're serious about being a PT entrepreneur, a clinical rainmaker, head to that group. Get signed up. Go to facebook.com/groups/ptentrepreneur, or go to Facebook and just search for PT Entrepreneur. And we're gonna be the only group that pops up under that.