How to Make More Money – New Revenue Streams to Explore For Your PT Practice

Medicare is cutting reimbursement in 2022, again. Insurance will likely follow. As we go into the new year, you should look into how to increase your revenue using new strategies. Below are a few ways to increase your revenue.

1) New Treatments and Services

There are a ton of new treatments, both physical therapy and wellness, out there. Many practices have added wellness treatments such as Normatec compression boots and Theragun massages as additional offerings. You can charge cash prices for these treatments for patients who do want them. In addition you can also hire a masseuse or person trainer to offer additional services that compliment physical therapy.

2) Branded Products

When you treat patients, many times they don’t have the necessary equipment to do the at home exercises you prescribe them. For example, you may recommend a lacrosse ball, foam roller or Alpha Grip. Of course, your patients can go on Amazon and buy them, but they may not exactly know which product to buy or what band.

You can have inventory at your clinic and offer branded products at your clinic. This makes it easier for patients but also increases your income.

Do you have any other ways that you plan to increase revenue in 2022?