I was recently asked a question that I get almost monthly, especially since late June when the Supreme Court upheld the constitutionality of the Affordable Care Act. So I figured it was time to answer it for all my readers …
What are your thoughts on the cash-based business model with “Obamacare” / universal health care taking form? Do you see it having a large impact at all?
Well, there’s no way to know at this point how The Patient Protection and Affordable Care Act will change the landscape for cash-based PT practices. The bill is hundreds of pages long so no one can say for sure how it will affect Physical Therapy as a whole … regardless of your business model.
Though I can’t give a specific and certain answer to this question, it’s still an important topic to bring up because it highlights some broader components of my success with cash-based Physical Therapy.
There were three general steps/characteristics that led to my entry into, and positive experiences with, the private-pay PT business model:
- A recognition that the current model was no longer working and was likely to worsen.
- Being flexible enough to consider change, and motivated enough to actually do so.
- A willingness to work intensely and creatively toward an ideal situation for my patients and myself.
I don’t need to go into details and examples of each of the above steps since they can be found throughout this site.
The take home point is this:
No matter what changes occur to the legal and financial landscape of our field, we can always utilize the above three characteristics and actions in an effort to continue providing high quality care while earning a good living.
If you have specific insights to the above question, please share them with us in the comments below.
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