Is Physical Therapy Worth the Price? A Comparison Between In-Network versus Out-of-Network

As co-pays for physical therapy exceed $50 per visit, it’s only natural to start questioning if you’re actually getting your money’s worth.‍Can I get in to see the physical therapist right away or do I have to wait a week or more (in pain)? Is my physical therapist prepared, ready, and on time at each session? Do I feel like I am the center of their attention or just a number?...

As a physical therapist for over 20 years, I cannot tell you how many times I’ve heard someone say, “I’ve tried PT but it didn’t work for me.” When I ask what they did, the typical response was something like, “I went for a few visits and they had me do exercises that I could just do at home.” Sometimes they would exclaim, “The PT was nice but she was on her phone (or computer) most of the time!”...

When the keynote speaker, Gary Vaynerchuk, at the APTA Private Practice Section Conference asked an audience of like a thousand PT practice owners if they were happy about the financial health of their business, less than 50 people raised their hands. Gary V. was obviously taken back by this lackluster response. So he repeated the question to make sure everyone was paying attention. Yet again, those same hands went up.

Starbucks was a powerhouse brand in the new millennium, constantly opening up new locations and expanding their product offerings. But, after the housing bubble burst and the financial sector collapsed in 2008, people suddenly began to question the wisdom of spending $5 for a Skinny Cinnamon Dolce Latte. After all, you could get a cup of coffee at McDonalds for just a buck.

“How do I convince my patients that the service I deliver is worth the price?” This is a question we often hear from physical therapists who want to rely less on insurance and more on the cash value of their undivided time. The first step in answering this question is to fully understand the difference between value and price. They aren’t necessarily one and the same.

In today's post, I am going to discuss how first impressions influence value.‍ Even before they set foot in your clinic, prospective clients must be convinced that your services are worth at least as much as your asking price. Otherwise, they will find a physical therapist who is willing to charge less than you charge, or a cash-based physical therapist who can create more perceived value than you can.

When you exceed expectations at every touch, customers feel like you are worthy of their time and money. They tend to be more willing to go outside of their insurance network, pay cash, and tell everyone around them about you. On the contrary, if you miss the mark at any point, their perceived value of your service can suffer.

In the first three parts of this blog series, we discussed the definition of value and how to build it through each phase of the customer experience. We also explained how to nail that first visit. Now that we’ve got their attention, delivering superior results is absolutely critical for long-term success of the practice. After all, clients are ultimately paying for an outcome.

Building a trusted relationship can also inspire clients to become your brand ambassador. The question is, what are you doing to leverage the relationship you’ve worked so hard to establish?‍ Studies show that over 90% of people trust recommendations from friends and family more than all other forms of marketing.

The competitive landscape of physical therapy has drastically changed over the past decade. In order to survive, you have to separate yourself from the countless PT chains and hospital based clinics out there. Besides offering a distinct treatment approach, like we do at Activcore, there’s one essential ingredient in the customer service recipe that most physical therapists leave out. By overlooking this important detail, you could be missing an opportunity to connect with your customers on a deeper, more meaningful level.

The year was 1976. My parents decided to drive me, my sister, and our dog from New York to start a new life in Arizona. When we finally got there, we opened our first pizza restaurant within a shopping mall. This was a new concept back then so we we felt like pioneers.

Over the years I have spoken with hundreds of physical therapists and practice owners across the nation. I’ve noticed a common theme among them. They’re stuck in some sort of whirlwind with minimal time to grow their practice beyond themselves. Most of them expressed feeling burnt out.