Transitioning to a Cash Based Practice

In March 2016, I opened Heafner Health, a cash based physical therapy clinic in Boulder, Colorado. In the past two years, I have grown the business to consistently seeing 30-35 patients each week. While it has been an amazing journey, the past two years have taught me many lessons about business, physical therapy, and life. 

In the video below, Dr. Nick Helton PT, DPT and I chat about cash-based physical therapy. Nick is looking to transition from his physician owned outpatient orthopedic setting into a cash based clinic. In the video, we cover four main topic areas (these were taken from email communication between Nick and I):

1. I think a lot of people (myself included) are afraid to start their own practice due to loss of steady income initially. Can you talk about your mentality when you approached starting your own practice? How you got over fears? 
2. In terms of finding an ideal location, what setting do you think is "ideal" (Gym, crossfit, something with a lot of members, etc)? Also, how do you convey to the owner that you want to have a symbiotic relationship with them, and not have them think you're just trying to take their members? 
3. Have you always had a room for your practice? A few of the owners I talked with said they could give me an open area but didn't have a room. I was unsure if that would be detrimental.
4. You had also mentioned a lot of your patients are from word of mouth. Can you talk about what you think is the key to success with getting good word of mouth and happy customers/patients?

If you have questions for Nick or myself OR would like a second round, please let me know in the comments section below.

​Thank you for following TSPT,
Jim Heafner PT, DPT, OCS
Link to cash based practice website: www.heafnerhealth.com