If you’re running a physical therapy clinic of your own, you might wonder what value a brand like FYZICAL Therapy & Balance Centers franchise could possibly bring to your business. At FYZICAL, we want to help all of our members maintain their independence as private practice owners while providing them with support systems that can help save them valuable time and money on operations while increasing their bottom line. One such system is our referral management program. If you’re already running a physical therapy clinic, you know that referrals are a crucial part of your business. They connect you with many of your patients and having reliable referral sources is the key to clinic growth. In fact, one-third of all medical patients in the U.S. are referred to a specialist each year. Read on to learn more about FYZICAL’s referral management program and how it can help physical therapy private practices to grow.
A Multi-Faceted Approach
Building Relationships with Physicians and Networks
Building strong relationships with physicians is one of the most important things you can do to keep patients coming to your practice. While some patients will find your business through word of mouth or advertising, many patients in need of physical therapy services will be referred by their physician. Well-established practices already have strong relationships with physicians in their area, and one of the things FYZICAL helps our members to do is keep those relationships going strong. One of the ways we do this is through a training program specifically focused on the cadence of reaching out to local physicians to ensure they know about the abundance of services you provide patients and how your practice differs from others in the area.
Networking in Your Community
Have you heard the expression “make new friends but keep the old”? It neatly summarizes our position on diversifying referral sources. It’s a great thing for a physical therapy practice to have solid relationships with a few physicians, but it’s important to continue building new ones to ensure your referral base is diversified. Relying too heavily on a single provider for referrals can put your business in jeopardy if that provider scales back on their hours, retires or moves to a different area.
FYZICAL works with our members and guides them on how to effectively reach out to new providers and leave a memorable impact so they, too, can start referring patients to you.
Building Value Into Your FYZICAL Franchise
Whether you’re an investor looking to break into the industry with a FYZICAL franchise, or a long-time practitioner, chances are you’ve started planning for retirement. In our industry, owners look to sell their businesses when they’re ready to retire. Building equity in your business now can ensure that you reap the rewards later when the time comes to find a buyer.
FYZICAL helps our members to track and manage their referral relationships. It’s a simple way to ensure you’re meeting adequate benchmarks for referrals, and it’s an asset when it comes time to sell. With proper referral management members are able to show prospective buyers exactly how many referral sources are actively working with them, and the value they bring to their businesses.
Referral management is just one of the many behind-the-scenes systems FYZICAL maximizes to help our partners see great returns. Contact us today to learn more about how we support our members!
