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CBP 49: Mike Reinold – The First Two Years Of His Successful Cash-Pay Practice

For most people who make their way to this website, Mike Reinold needs no introduction. Over a number of years he has built up the biggest and most popular website on physical therapy and rehab, and two years ago he left his career as a PT in professional baseball to start his own cash-based PT practice …

mike reinold gives advice for success in the cash-based practice model

In this episode, you’ll learn about:

  • How Mike became the head physical therapist for the Boston Red Sox
  • Why he decided to leave professional baseball and start his private practice 2 years ago
  • Why he decided to go cash-pay vs being in-network with insurance
  • Why he chose to have a business partner in his practice
  • The fears he had when getting started and continues to have.
  • How they describe their practice and services to prospective patients who aren’t sure they want to go out-of- network for physical therapy.
  • The marketing approaches they’ve seen work well for their practice (aside from the business generated via mikereinold.com)
  • How his podcast has/hasn’t affected his practice
  • How he offers fitness services to monetize his large PT gym space
  • His Facebook Advertising for his gym services
  • How they partnered with a youth baseball organization to lower facility costs and generate business.
  • His primary advice for anyone looking to start a cash-based PT practice

Resources and Links mentioned in this episode:

Click Here to learn how to start your own Cash-Based Practice

 

Let us know if you enjoyed the show:

[Click to Tweet] Thank you @MikeReinold for being an awesome guest on the Cash-Based Practice Podcast w/ @DrJarodCarter

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{ 2 comments… read them below or add one }

Justin Feldman July 30, 2016 at 10:23 am

Great episode guys! I really enjoyed the part where Mike was discussing the “spokes” of his brand, because that is something I have been working on a a lot recently.

Towards the end you guys were discussing podcasts with your patients in mind as the audience, we recently started one just for the reasons you mentioned, and one more. We wanted it to be a part of our brand that people could consume on the go, and easily. We actually based the format a bit off of Mike’s podcast, with the idea of keeping them short 10 min and under. We try to cover different topics that interest our patients, and have even used patients as guests before. One other goal that I had from starting the podcast, however, was to grow an audience so that I could then invite other possible referral sources on the podcast, as a way to grow their brand and/or help their business. This would give me a way to market to them, without actually marketing to them, and grow my value in their mind. So far that has worked very well, and it has been really well received by all of our patients. We have been doing it for 8 weeks and seen 4 new patient referrals that came directly from that.

Hope that helps everyone else!

As always thanks Jarod and Mike!

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Dr Jarod Carter July 30, 2016 at 3:34 pm

Well done Justin! The article I recently wrote for PPS Impact Magazine (not yet published) listed exactly what you said as a side benefit: inviting potential referral sources on the podcast to build that relationship in a unique way. SO cool that you guys have already seen 4 new patients after just 8 weeks of producing the podcast!! That’s amazing! I wish I had known about that before my article went to print!

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