Interested in growing your private practice?
For therapy practice owners seeking to grow their business, the initial focus often revolves around adding more clients to increase revenue. This is typically one of the top strategies. However, what often gets overlooked is the potential for unlocking unrealized revenue within the current client base, especially for those practices serving school populations.
Let me explain by focusing on an innovative approach called Pacing™ that emphasizes not just acquiring new clients but optimizing services for existing ones. This isn't about upselling more services but ensuring that clients receive their current medically recommended and legally mandated visit frequencies.
Consider this example:
At one practice, over 30% of IEP mandated visits were going unrealized. Imagine a patient whose IEP specifies 8 visits per month, but due to school holidays and unexpected absences, the client is only seen for 5 visits that month. That's a 37.5% unrealized visit rate.
Can we blame the therapist? Absolutely not.
With a caseload of 30-40 clients, it's impossible to consider every holiday and absence. What's required is a technology that accounts for school holidays, visit mandates, and potential patient absences, making scheduling seamless.
Here's where tools like Pacing™ come in handy. This approach allows therapists to see who is behind pace, adjust their schedules, and reduce unrealized mandated visits. The concept of pace implies meeting the client's mandated frequency by specific timelines. If you fall behind, real-time data can help you get back on track.
Are unrealized visits avoidable? Not entirely, but with the right tools at your disposal, your practice can make significant strides in reducing unrealized mandated visits and increasing revenue. It's a win-win-win situation.
Therapists spend less time puzzling over their schedule, clients see better and more consistent progress, and practices earn more revenue while better serving state and federal requirements.
If you're looking for ways to improve your practice and the lives of the clients you serve, embracing these innovative scheduling and pacing tools may be your next step.