This episode pulls from one of my first cash-practice blog posts at this website, and it delves into one component of the “mindset” topic. I discuss the mindset of the target market for just about any cash-based practice, no matter what niche or area of treatment specialty.
More specifically we discuss these cash-practice topics:
- Why you should not expect as many referrals from medical doctors when you start or move into a cash-based practice.
- Where you will make up for that loss of physician referrals.
- A very common misconception about patients who are willing to go to a cash-pay practice.
- A concise definition of your new target market in a private pay practice, and what type of mindset they have about health and wellness.
- Why many practitioners think that there are not enough people in their area willing to pay out-of-pocket to support a cash practice, and why they are wrong.
Resources and Links mentioned in this episode:
- Joseph Brence at forwardthinkingpt.com
Interested in the cash-based private practice model?
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[Click to Tweet] A shift in your target market when starting a #cashPT practice … hint: it’s not about the bank account.
Please keep me informed as to the details with accepting cash from Medicare beneficiaries
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Dr. Carter,
Met you at PPS this past weekend. I listened to the first 3 podcasts. So far so good. I take insurance but I see value in the sell of physical therapy. I really like your ideas. I look forward to listening to more podcasts.
Was great meeting you at PPS, and great job on taking immediate action on all this … that’s more than most of our colleagues will ever do. Best of luck and let me know if any questions arise