cash-practice-secrets-image-cache-2-all-posters-com-money-doctor.jpg1) Give every one of your patients the option of paying cash from the beginning. You can give many of them incentives them to pay up front because money today is worth more than a partial payment in 90 days. James Ko, PT a contributor to the cash practice secrets course puts the cash option as option #1 on his forms.

It has a check box with text behind it that says, “I will take advantage of the $30%discount [This can be a lesser discount or other benefit but I suggest at least discounting the 6-10% that it would cost you to collect that money after the time of service.] offered for paying cash at the time of service.”

Remember there are many clients for which cash is the only option. I treat many of them. If you intend to treat Medicare patients you may be “non-participating” and set up your system where the client pays you directly and gets reimbursed by Medicare.

2) Respect your clients’ time and their money. Advise your patients honestly like you’d advise your own family members. You can’t have too much integrity. Those who can afford to pay cash frequently think they have very busy lives even if that “busyness” is going from one social to another. They frequently don’t want to come in for therapy three times per week if they can be taught how to do many of the treatments at home.

3) Learn everything you can about cash practice physical therapy. Take advantage of cash practice tele-seminars and internet training. These will help you develop your practice and also to will let you know if you might be interested in further training from that publisher, author or speaker. Don’t spend a $1000 on a course without first checking out the free content from that author. Seek out specialized knowledge on this topic.

A free audio chapter on how to run a cash practice is viewable for those who simply register at Cash Practice Secrets. Other absolutely free bonuses include free email/internet training and free tele-seminars.

These high-value tele-seminars are being held at least monthly for a limited time for free for those who have opted in by entering their email address at the above link and then confirming by clicking the appropriate link in an automatic email.

This information has been compiled by Lance P. Van Arsdell, PT, MSPT who is the president of Cash Practice Secrets. Lance has a house call physical therapy practice in Mesa, AZ and this is the BLOG he authors for physical therapists. Spread the word about this BLOG. Here’s the link again: Therapeutic Wealth. Thanks!