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Dan Johnson, Kjersten Skjold , Scott Holm, Robert Whittaker, Sarah Erickson, Ricky Morgan

Dan Johnson, Kjersten Skjold , Scott Holm, Robert Whittaker, Sarah Erickson, Ricky Morgan. Co-Ownership. Combined 15 year experience, both certified in McKenzie Method of Mechanical Diagnosis & treatment of the spine Kjersten Skjold : DPT, AAOMPT Chief Operations Officer

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Dan Johnson, Kjersten Skjold , Scott Holm, Robert Whittaker, Sarah Erickson, Ricky Morgan

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  1. Dan Johnson, KjerstenSkjold, Scott Holm, Robert Whittaker, Sarah Erickson, Ricky Morgan

  2. Co-Ownership • Combined 15 year experience, both certified in McKenzie Method of Mechanical Diagnosis & treatment of the spine • KjerstenSkjold: DPT, AAOMPT • Chief Operations Officer • Dan Johnson: DPT, Sports Rehabilitation Residency • Chief Financial Officer • LLC operating agreement with shared profit & duties

  3. Financials • Start up cost: $241,000 • Loan Requested: $191,000 • 7 year contract • Construction • Equipment • Co-Owner contribution: $50,000

  4. Facility 4350 S Washington Street Grand Forks, ND 58201 (701) 335-3335 • Across from Wild Hog/Choice Health & Fitness • 2,380 square feet • $71,000 fit up assistance from landlord

  5. Virtual Tour

  6. “Designing a better moving you” • Our focus is on promoting & preserving the health & well being of our patients in the greater Grand Forks area who suffer from work & sports related injuries • We look to secure contractual agreements with local large scale industrial companies • We hope to become a primary provider for all sports related injuries • As health & wellness experts we intend to promote holistic wellness of our patients by assisting them in preventing future health complications

  7. Mission • To provide the area with evidence based comprehensive rehabilitation with the highest level of clinical care available • Vision • To become a self-sufficient physical therapy clinic with a stellar reputation for quality care that attracts patients from around the region.

  8. Treatment of orthopedic & neuromuscular conditions related to work & sports injuries Services & Products • Strength &Conditioning • Manual therapy • McKenzie Method of the Spine • Soft Tissue Mobilization • Modalities for relief of pain & inflammation • Patient education • Home Exercise Programs • Wellness consultations • Ergonomic assessments • Pre-sports physicals • Bike Fit • Work & Wellness Seminars • Gait assessments

  9. Goals • We will secure two contractual agreements with at least two major companies in the Grand Forks area. • We will attend three health fairs to promote our physical therapy services. • We plan to do twelve Work & Wellness Seminars at local businesses in an attempt to increase clientele base & meet our contractual agreement goals. • We are driven to achieve 95% patient satisfaction through survey results in the first year. • Increase our daily case load from five patients per therapist to ten & maintain this consistent case load throughout the life of the business. • We plan to net a profit of $40,000 exceeding our anticipated amount of approximately $31,808.

  10. Physical Therapy Trends • Trends • Autonomous providers • Prevention & wellness focused • Treatment of preventable diseases • Reducing long-term healthcare costs

  11. Marketing Primary Target Secondary Target Post-operative orthopedic patients Weekend Warriors Geriatric patients Law-enforcement GFPD UPD GF county sheriffs Fire department • Large industrial facilities • LM Glassfiber • American Crystal Sugar • Amazon • Cirrus Design • Athletes

  12. Competition Primary Competition Secondary Competition Grand Forks School System University of North Dakota Massage therapists Chiropractors • Hospital systems • Altru Health Systems • Sanford Health • Private Practice • Rehab Authority • Achieve Therapy & Fitness

  13. SWOT Analysis Strengths Weaknesses Lack experience in neurological rehab New to the market Limited number of therapists • Extensive background & in training • Manual Therapy • Sports Rehabilitation • Combined 15 years of experience • Previous development of population specific programs • Nursing preventative wellness • Student-athlete strength & conditioning

  14. SWOT Analysis Opportunities Threats Lack of presence in the market Altru Health Systems Achieve Therapy & Fitness Reimbursement changes Affordable Health Care Act • Community emphasis on health & wellness • Healthcare trends changing • Prevention based • Large number of industrial companies

  15. Marketing Plan • Unique Selling Point: • Our therapists have obtained advanced certifications & have significant experience • Our interventions are individualized for the specific needs of each patient • Our patients return to work or sport sooner than other physical therapists • Dan: On average, patients return to work or sport 1 week earlier when compared to other therapists • Kjersten: On average, patients require 3 less visits to reach their goals

  16. Marketing Plan Types • Networking: • Greater Grand Forks Young Professionals • Grand Forks Chamber of Commerce • Local events: Wild Hog Half Marathon & Healthy Living Expo • Workers Safety & Insurance of North Dakota • Health Care Professionals Letters: • Who, Where, & What

  17. Marketing Plan Types • Social Media: • Facebook • Twitter • Print Marketing: • Flyers during the first 3 months • Grand Opening • Little known facts about PT • Free “mini-evaluation” • Website: • Developed & maintained by a professional marketing firm • Updated regularly

  18. Marketing Goals • Secure a one-year or multi-year physical therapy service contract with a major industrial business to obtain consistent patient flow. • Receive referrals from 10% of physicians who receive our healthcare provider marketing letter to grow our healthcare network. • 20 patients participate in our free screening from our flyer marketing to increase our patient numbers. • Lead a lunch & learn with the Greater Grand Forks Young Professionals group to enhance our networking among businesses in Grand Forks.

  19. Marketing Budget

  20. Projected Net Profit • 2014 • Assuming each PT sees 5 patient’s per day • $100 per patient • Gross profit of $260,000 • 2015 • Assuming each PT sees 10 patient’s per day • $100 per patient • Gross profit of $520,000 • 2016 • Assuming each PT sees 11 patient’s per day • $100 per patient • Gross profit of $570,000

  21. Major Expenses • Mortgage – $34,034.88/year • Advertising – $8,573/year • Rent– $30,900/year • WebPT – $19,400 projected first year cost • $50/month per therapist • 6.5% of total billing • Benefits – $16,584/year • Health insurance: Premium Plan = $1,072/month • $12,864/year

  22. Salary • PT’s – $50,000 per year • Office Manager – $40,000 per year • Total salary of the employees = $140,000 per year

  23. Profit & Loss Projection (3 Years)

  24. 3 Year Projection

  25. WebPT • All billing & documentation will be done through WebPT. • WebPTwill help us: • Increase compliance • Increase efficiency • Schedule patients • Improve operational decision-making with real-time business intelligence • Work on the go • WebPTis a widely used software provider for physical therapy clinics throughout the nation.

  26. Documentation

  27. Scheduling

  28. Practice Management

  29. Billing • Reduce Claim Errors • Drive Profits • Save Time

  30. Organizational Chart

  31. Physical Therapists • Dan Johnson CFO • Marketing • Public relations • Advertising • Financial • KjerstenSkjold COO • Day to day operation management • Oversees scheduling

  32. Staff • Office Manager • Welcome guests • Scheduling appointments • Answer phones • Keep facility clean & tidy • Use WebPT effectively • Advertising (sending appointment reminders) • Paying rent & all bills • Organizing physician protocol information

  33. Quality Improvement Plan • 1 strongly disagree, 2 disagree, 3 neither agree nor disagree, 4 agree, 5 strongly agree, N/A if you do not have an opinion on the question • My privacy was respected during my PT care • My PT & other staff were courteous • The clinic scheduled appointments at convenient times • I was satisfied with the treatment provided by my PT • The home exercise program my PT gave me was helpful • I was seen promptly when I arrived for treatment • The location of the facility was convenient for me • I would recommend this facility to family or friends • My bills are accurate • The cost of the PT treatment received was reasonable • If I had to, I would pay for these PT services myself • Overall, I was satisfied with my experience with my physical therapy

  34. Expansion Plan • Short term • Hire PT &/or PTA • Long term • New location • Crookston • Fargo • Devil’s Lake

  35. FOCUS-PDCA • Find – Patient no shows • Organize – Owners & office managers • Clarify – Unclear scheduling, etc.  Less productivity • Understand – Measuring variation (patient satisfaction, PT time management, etc.) • Select – Patient scheduling, PT time management • Plan – Staff meet to discuss potential areas. • Do – Meeting to discuss how to better utilize time and use scheduling system • Check – Meet biweekly to analyze data to find variations • Act – Implement necessary changes

  36. Eric Giltner’s Words of Wisdom • Loan agreement • 5 year to a 7 year • PT salary • Highlight WebPT • Less time with billing, more time with patients • Financial Information • Consult with a financial professional • Highlight your unique selling point • What makes you better? • Clean formatting

  37. Thank You

  38. Questions

  39. References • Bowers MR, Kiefe CI. Measuring health care quality: Comparing and contrasting the medical and the marketing approaches. Am J Med Qual. 2002;17(4):136-144. • Harp SS. The measurement of performance in a physical therapy clinical program. A ROI approach. Health Care Manag (Frederick). 2004;23(2):110-119. • LaskarisJ, Regan K. The new break-even analysis. Health Finance Manage. 2013;67(12):88-95. • NosseLJ, Friberg DG. Management and supervisory principles for physical therapists. Lippincott Williams & Wilkins; 2009. http://books.google.com/books?id=zL_2OwAACAAJ. • Richmond T, Powers D. Business fundamentals for the rehabilitation professional. SLACK; 2009. http://books.google.com/books?id=yIrguS7ku6IC. • SahlmanWA. How to write a great business plan. Harv Bus Rev. 1997;75(4):98-108. • Schafer DS. Environmental-scanning behavior among private practice physical therapy firms. PhysTher. 1991;71(6):482-490. • Marketing • http://www.apta.org/PTinMotion/2009/6/Feature/PhysicalTherapyMarketing/ • http://www.apta.org/PTinMotion/2008/5/Feature/21stCenturyMarketing/ • http://www.apta.org/PTinMotion/2006/9/BoardPerspective/ • 2013 APTA year in review: http://www.apta.org/2013/ • Marketing and public relations for the physical therapist: http://www.apta.org/PTinMotion/2013/12/Feature/MarketingPR/ • Equipment List/Floor Plan – Tony Erickson Altru Project Manager

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