The Land of Opportunity

I have had the privilege to work with hundreds of Practices over the past decade on a wide variety of business related issues and opportunities. Every engagement has one thing in common - that is, the owner's interest in being better rewarded financially for the their investment, risk, hard work, service to the community, sacrifice, and leadership.

I agree with them - most deserve more than they are getting. What most fail to realize is that there is much more reward in their Practice's that they could tap into if only they knew how!

Statistically 75% of Practices under perform financially. Practically speaking, 100% of practices under perform in some aspect of their business! There is opportunity for greater Practice reward everywhere!

Consider this little exercise I shared in my presentation to the Rhode Island APTA last week...

Assume:
*10 Visits / Day / PT
*3.5 Units / Visit / PT
*230 Work days / PT/ Year

That calculates to 9660 Units / PT/ Year.

Now, there are approximately 125,000 PTs in the USA.

Do the math... PTs conservatively deliver 1.2 Billion Units / Year. This happens year after year...!

Having benchmarked hundreds of Practices I can tell you with confidence that a 10% improvement in just expense performance is readily within the reach of most Practices - much greater improvements are achievable by a great many Practices! Keep in mind there are also vast opportunities to enhance revenue!

So to keep the exercise easy and conservative we went with an average of 10% improvement in expenses per unit of service. For the average Practice that represents about $2.42 / unit.

Lets do the math again. 1.2 Billion units times $2.42 equals $2.9 Million. That's about $23,200 per PT!

Now that's a lot of potential reward. Oh, and remember that achievable reward would be earned annually!

There is opportunity for greater financial reward inherent in virtually every PT practice. It simply requires a thoughtful business decision by leaders and owners to secure the reward.

It is the kind of financial reward that could change Practices and "Yes" - change the profession!

Are we provoking the full potential of our profession? Are you provoking the full potential and promise of your Practice? How much reward are we / you leaving on the table day after day after day? Does it matter?

All The Best!

Bob

Copyright 2007
Performance Builders