Acquiring new patients is the lifeblood of any clinic. As a matter of fact, it’s essential to the survival of your physical therapy practice. As a physical therapist in private practice, you already understand the importance of networking, and consistent engagement with referral sources to maintain a steady stream of referrals. But what you might not know is you can generate generate more referrals by offering differentiated treatment services from other practices in your surrounding area.
For example, physical therapy clinics who provide comprehensive balance and vestibular therapy open up a wealth of referral opportunities from the following specialties:
By diversifying your referral sources you increase the stability of your practice and prevent your business from being over reliant on a single referral source. Expanding the services your clinic offers creates an opportunity for you to further differentiate your practice from the other practices in your area. Ultimately, this allows you to bill for more ICD-10’s and add a level of collections security to your private practice that you wouldn’t have otherwise had.
At FYZICAL, our owners are helping more patients and growing their revenues by 40%* on average! If you want to learn more about incorporating balance retraining and fall prevention in your practice you might also enjoy this post on Growing Your Physical Therapy Billings with Balance Therapy.
Want a copy to keep?
You Can download this referral tip sheet as a PDF, right here.
*FYZICAL conversion model saw the following revenue growth; average 40%, median 37.7%, 51% (44/87) who joined FYZICAL met or exceeded the average 40% revenue growth. p.48 F.D.D.
Referrals are the lifeblood of your practice and it’s important to keep a steady flow of referrals coming in… and manage those referrals effectively!
Competition in private practice physical therapy is tough. Without a physician liaison, you risk falling behind competitors who prioritize referrals.
Learn important attributes of physician liaisons, networking and best practices for physician liaisons. Find out how physician liaisons can grow...
