With a shift toward more active – and thus more injury-prone – lifestyles, the largest generation in history aging into Medicare, and decreasing barriers to direct access care, physical therapy is experiencing the highest demand in the history of the profession. As such, it is imperative for physical therapy practice owners to stay one step ahead of their competition.
Deploying excellent marketing is one of the keys that adds to success, but it is critical to understand your clinic’s key performance indicators and use that knowledge to drive your business strategy.
Imagine a tool that integrates with your EMR and derives business insights from your unique data to help you drive a business development strategy that helps you achieve your goals - would you want to know more?
It relies on business intelligence, which is deployed in many sectors and is made up of infrastructure and tools that compile and analyze data to help physical therapy businesses understand and adapt their strategic approach to business management.
Put another way; business intelligence uses real data to tell you about the health of your business, which allows you to adjust your strategic approach to the business side of physical therapy for an ever-changing market.
While some clinics have tried to adapt their own strategies for business intelligence, they are often flawed, waste valuable time and money, and are often prone to error.
FYZICAL’s business intelligence team is comprised of a mix of physical therapists and business professionals, we combine industry knowledge with business acumen to give practice owners the information they truly need to make better business decisions based on their clinic's real data.
FBI revolutionizes typical PT business intelligence by translating BI from other industry sectors into the physical therapy industry, and it allows users to see key performance indicators for their clinic’s business health in an accurate, timely, and inexpensive manner.
As you manage your business, it’s crucial that you have time to spend on the activities that will help your practice thrive. From scheduling employees to maintaining certifications to marketing in the community, most practice owners have way too much to manage to spend time manually retrieving data from their EMR system, reformatting it, and manipulating it for study.
As a result, most owners don’t have a tool to derive key performance insights from their clinic’s data, and their practices often suffer due to the lack of dip/spike/trend visibility.
Instead of having a clear picture of their business performance and a targeted approach to enacting positive change, these owners rely on an anecdotal or assumptive analysis of their experiences in the clinic and guess what the problem is, hoping they can correct the issue before it’s too late.
Unlike traditional methods, FYZICAL Business Intelligence pulls directly from the EMR system. This allows users to skip the manual entry process and get straight to the analysis of their business’s key metrics – an immediate advantage over their competitors.
While raw data can provide some insight into clinic performance, it is critical to look deeper into
There are multiple levels of customizability built into each dashboard, so practice owners can look at specific dates, metrics, indicators, etc., with ease.
The added functionality of FBI not only helps users find the problem but gives them the tools and resources to resolve it and make sure it doesn’t happen in the future. Imagine a business that sees a sharp decrease in revenue in one month.
While the average practice owner, assuming they have noticed the change at all, would have to resort to a manual analysis or guessing what this is a result of, a FYZICAL owner could use the FBI interface to look at key performance indicators, by looking at the visual data for visits or cancels/no-shows, they may see a trend, or a pattern (often considered seasonality) and be able to account for the change, and take specific action to overcome the unexpected dip.
FBI uses visuals, like charts and graphs, to easily relay complex analytical information through a highly-visual, at-a-glance interface, ideal for managing your practice from anywhere!
The FYZICAL team’s number one goal is to empower our practice owners to be successful in meeting their unique goals. With all the unavoidable costs of running a practice, like EMR and billing fees, we wanted to create a tool that helps our owners practice more profitably with zero additional cost burden.
That is why our FBI operational reporting platform is 100% free to use and has zero fees. Over the next 12-24 months we anticipate adding additional premium features like a PT performance-based compensation interface. The future of physical therapy private practice is bright!
Partner with FYZICAL Therapy and Balance Centers to gain access to our proprietary Business Intelligence platform. Our team is dedicated to helping physical therapy practice owners transform average practices into thriving businesses - without compromising patient care, and FBI is just one of the tools for accomplishing that goal.
Its customizable features and automatic data pulls allow you to derive key business health metrics from your data while saving valuable time and money. Spend less time worrying about numbers and more time focusing on patient wellness.
Learn more about our Franchise opportunities for current practice owners, entrepreneurs, and physical therapists who want to break into private practice!