Dr. Jarod Carter, DPT talks to Dr. Justin Trosclair DC on A Doctor's Perspective Podcast.

Cash based practice as a physical therapist is new. Learn about hiring associates, setting fees, medicare, clinic setting, his coaching, answering the phone and we discuss Dr. Jarod Carter’s twins spinal muscle atrophy journey.

Big tip is to find a great mentor when first out of school.

We talk a little about his time working for a wealthy couple
that would fly him around to do private physical therapy. He learned some lessons
during that year that helped him in his own view on money as well as being able
to help his coaching clients.

Speaking of coaching, he started a cash based physical
therapy clinic when going cash was a rare option and thought of as a poor
business decision. However, after quickly making it successful, many people
were asking him questions on how to do this too. Listen to some interesting
details on the episode about how he created an online business to help others
go cash physical therapy.

There is no limit to the amount of wealth potential that you
can see for yourself and for your patients. Need to have that abundance mindset
because in reality, it’s the truth.

Seeing the inevitable squeeze the insurance companies were putting on reimbursements all the while expenses keep increasing was one reason he went cash based only. He also noticed that patient treatment started to be geared toward what will your insurance cover instead of what’s actually best for the patient.

What has he seen as the best start up scenario: work in a
gym, home visits, rent a room from another professional, work full time with
someone else and build up your own clinic,  3000 sq ft dream office etc.

Keep your expenses low so when you are considering equipment
and software and all the gadgets, really ask yourself, “what will the return on
investment be?”

When should you take that online seminar or subscribe to
that monthly membership site that will take you to the next level?

Should  you do per Diem work (pick up shifts around town) while you grow your cash based practice?

He had his infusionsoft and other marketing platforms up and
running for a while before getting electronic records, listen to find out the
decision process in picking one.

How do you figure out How You Charge, What You Charge and those considerations for a cash practice? What considerations should you have if you expect the patients to still submit out of network claims to the insurance company?

He has a unique way of setting his cash based fees on the standard insurance 15 minute increment. You really want to tune in for this extended answer.

What level of documentation should you have for a cashbased practice?

What courses and management and customer experience classes would he recommend?

What does an hour session look like in Dr. Jarod’s office
and how does a higher price but fewer visits attract clients? Extended answer
provided.

When should you consider branded products, if ever?

The “do you take my insurance” is an important question to
answer but listen to Dr. Carter give us the deeper reasoning and the way to
best answer it.

Things to look for (positive and negative) in hiring a
coach.

Medicare and Cash
Practice: what documentation is necessary and please consult your local