As the healthcare industry is evolving in the times of Pandemic, Physical therapists and owners have more business model options than ever before! From traditional physical therapies to post surgical therapies and further to personalized home visits – There can be several practice models for a physiotherapist! With this thought in mind, We come up with 4- Fresh business models for physical therapists that will break with tradition:
4 Business Models for Physical Therapists
Model #1 – Collaboration with Other Health/Wellness Professionals
Every tough road become easy when done with partners in health!
Various healthcare professions, nowadays, are teaming up to deliver more holistic care to their patients. In fact, some physiotherapists—are even teaming up with non-physician care providers who were traditionally seen as direct competitors (For example: chiropractors and massage therapists). This model aims to improve patients’ experience, satisfaction with better healthcare services, and reduce the overall cost of care.
Model #2 – Partnering with a Gym
PT-gym partnerships can be incredibly lucrative and mutually beneficial. It will be an opportunity for PTs to connect with individuals who have specific pain or mobility issues to gym routines. Furthermore, these on-site professional therapists are uniquely qualified to ensure patient safety with proper care of health issues that could be impacted by incorrect exercise.
Model #3 – Working with a Corporate Office
Many large companies and MNCs have their own on-site clinics, which often include physical therapists. This approach offers a lot of flexibility and variety. This model is ideal for employees who have desk jobs. It is also a perfect opportunity for corporates to promote healthy work-life.
This is an incredibly convenient and win-win business model
Model #4 – Offering Subscription Services
The idea of offering physical therapy on a subscription plan is quite fruitful. Many PT business owners boosts their profitability with this model. In this model,patients pay a monthly or annual fee to their PT in exchange for immediate access to all services. For an example, personalized home visits, avoid long waits for serious patients and extra treatment sessions can be extra-valued services.
This model can especially work better for physical therapists who are using non-invasive, pain-free electrotherapy treatments that do not cause any side-effects. Such benefits can attract more and long lasting customers.
Health care measures are constantly changing, that means patient will continue to change as well. And that brings a huge business opportunity for those practice owners who are willing to initiate. Its always good to find a mentor who’s had success in your desired model.
Which business model are you following currently? Share your experience with us in the comment section below!