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The Cash-Based Practice Podcast

Business & Economics Podcasts

Gathering input from many successful cash-based practice owners, this podcast covers all components of starting or transitioning into the out-of-network/private-pay business model for your private practice. Though the host, Jarod Carter PT, DPT, MTC, and many interviewees are physical therapists, this information is applicable to most healthcare, fitness, and wellness-related businesses looking to decrease reliance on 3rd party payors, and increase cash-based revenue streams. We cover a huge number of topics including: practice transition strategies, 3rd party payor contract legalities, Medicare rules and legalities in the cash-based model, referral source diversification, online marketing, word-of-mouth marketing, optimal website design, blogging, Youtube and video marketing, networking skills and strategies, the vital cash-based mindset, phone conversations and conversions, scheduling, discharge marketing, administrative training, low overhead systems and automation, private-pay wellness/fitness/prevention programs, and everything else that involves the self-pay practice model, how it differs from the traditional insurance-based model, and what you need to do to be successful with this low-stress, rewarding type of private practice.

Location:

United States

Description:

Gathering input from many successful cash-based practice owners, this podcast covers all components of starting or transitioning into the out-of-network/private-pay business model for your private practice. Though the host, Jarod Carter PT, DPT, MTC, and many interviewees are physical therapists, this information is applicable to most healthcare, fitness, and wellness-related businesses looking to decrease reliance on 3rd party payors, and increase cash-based revenue streams. We cover a huge number of topics including: practice transition strategies, 3rd party payor contract legalities, Medicare rules and legalities in the cash-based model, referral source diversification, online marketing, word-of-mouth marketing, optimal website design, blogging, Youtube and video marketing, networking skills and strategies, the vital cash-based mindset, phone conversations and conversions, scheduling, discharge marketing, administrative training, low overhead systems and automation, private-pay wellness/fitness/prevention programs, and everything else that involves the self-pay practice model, how it differs from the traditional insurance-based model, and what you need to do to be successful with this low-stress, rewarding type of private practice.

Language:

English


Episodes
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CBP 239: How to Find and Hire the Perfect Virtual Assistant for Your Cash-Based Practice

5/11/2024
In this episode of the Cash-Based Practice podcast, I tackle a question many new business owners face: How to find and hire your first virtual assistant (VA) or on-site admin, and how to prioritize the tasks you give them in order to move your business forward... If you're feeling overloaded and want to finally free up your time to focus on what you do best, this episode is a must-listen! And make sure you also scroll down to get a free resource that will save you hours of time on boarding your staff and take the guest work out of the new employee onboarding process. This is also a must-have for any private practice owner who wants to avoid bad hires or wasting great opportunities by not properly training your new employees. USEFUL INFORMATION: Check out our course: Cash-Based Practice Freedom 2.0

Duration:00:09:14

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CBP 238: How to overcome mental challenges faced by cash practice owners

4/20/2024
In today's episode, we delve into the common challenges and frustrations faced by entrepreneurs and cash-based practice owners from technical disruptions like website and email failures,, to administrative issues and lost leads, the entrepreneurial journey can be daunting and at times downright overwhelming. If you ever get hit with a number of difficulties and frustrations all at once and wonder “could anything else go wrong?“ Or “is owning my own business really gonna be worth it someday?“ …this episode is for you. After years of running 2–3 businesses at a time while managing a medical household for 2 children with severe medical needs, in this episode, you’ll hear my best advice and mental strategies for pushing through tough times as an entrepreneur and cash-based practice owner. (And before you leave the episode, make sure you scroll down to get a hugely valuable resource, completely for free: Cash-Based PT Superbill Template and OON Coverage Guide. This resource includes an optimized superbill template and all the questions I have my prospective patients ask their insurance companies so they can get the maximum reimbursement for your services.) USEFUL INFORMATION: Check out our course: Cash-Based Practice Freedom 2.0

Duration:00:14:01

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CBP 237: Simple strategies to make your presentations and workshops produce at least 2X more leads

4/6/2024
Are you ready to turn your next presentation into a lead-generating powerhouse and major revenue producer for your practice? In today’s podcast, we unveil the strategies for effectively collecting and nurturing potential clients at (and after) presentations or workshops. Through these proven and practical strategies, you can easily engage your audience and obtain their contact information without sounding sales-y, AND pre-address common objections to saying yes to your offer. (And before you leave the episode, make sure you scroll down to get a hugely valuable resource, completely for free: An exact outline of a high converting cash-pay patient presentation, so you can create a winning presentation and combine it with this episode’s strategies on gathering and converting the leads you generate.) USEFUL INFORMATION: Check out our course: Cash-Based Practice Marketing Intensive

Duration:00:10:18

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CBP 236: Strategies for Elevating Your Rates and Maximizing Revenue

3/23/2024

Duration:00:11:32

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CBP 235: The Blueprint for Creating Cash-Based Practice

3/3/2024
Diving into the journey of establishing a successful cash-based practice can be daunting, but what if you had a clear blueprint to guide your path? In this episode, we explore the essential pillars needed in a TRULY successful and sustainable cash-based practice that not only attracts plenty of patients but also delivers unparalleled service that they're happy to pay for out-of-network. And we also have a special free resource associated with this episode … my report on the “22 Best Sources of Cash-Pay Patients” - just scroll down to download it now. USEFUL INFORMATION: Check out our course: Cash-Based Practice Marketing Intensive

Duration:00:14:14

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CBP 234: Cash-practice video marketing that actually produces patients

2/17/2024
Ever wondered why some content grabs your attention while you just scroll right past the others? If you are curious about how you can make your target patients stop and read your content, this podcast episode is for you! You’ll learn why and how videos can elevate your marketing strategies and what topics your audience may find relevant and engaging. Moreover, you’ll discover how AI technology is changing the game when it comes to content creation. USEFUL INFORMATION: Check out our course: Cash-Based Practice Marketing Intensive

Duration:00:14:41

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CBP 232: A transformative annual business plan for a cash-based practice

12/20/2023

Duration:00:15:15

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CBP 231: How to get your new admin trained to handle initial phone calls without losing business

12/8/2023
How your practice admin handles the phones may seem somewhat less important than patient care, but this area can silently cost a practice thousands in lost business. For that reason, your new admin needs to develop all the skills to handle initial phone calls, but the tricky part is how to get from new hire to high-converting telephone master? In this podcast, you’ll hear my favorite strategy for taking your new admin trained to handle those initial calls… without losing business. As a bonus, if you scroll down, you can download my “Cash-Pay Practice Closing Scripts” which includes the proven patient-generating scripts I use in my own practice. In this podcast, you’ll hear some easy strategies that will allow you to get your new practice administrator properly trained to handle new patient phone calls with confidence, but without costing you valuable business in the process. This “highlight” is from a Q&A call with my Mastermind Gold group—a highly interactive, supportive group where people who have tons of questions and concerns about how to start, grow, or transition to a cash-based private practice get the answers, resources, and confidence they need to build the practice of their dreams. We have a group coaching call every week, and we occasionally use excerpts of those calls for this podcast. USEFUL INFORMATION: Check out our course: AUTOMATED TOP TALENT ATTRACTION AND HIRING SYSTEM

Duration:00:10:11

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CBP 230: Referral marketing strategies to build reliable referrals for your cash practice

11/18/2023
For a cash-based practice, building and maintaining strong relationships with referral sources can be a huge engine for new business, especially when a practice is getting itself established. If you have the sense there may be some untapped referral sources in your area, you’ll definitely want to check out this podcast to learn some practical referral marketing strategies that will help you make a case for why another professional should trust you with their patients. As a bonus, if you scroll down, you can download my “Referral Source Tracking and Follow-Up Reminder Spreadsheet.” This resource will help you stay in touch with potential referral sources—even when your schedule gets overloaded—and give you some proven patient-referral scripts I use in my own practice. In this podcast, I explain how to get a foot in the door with potential referral sources, arrange consistent touchpoints, foster personal connections, and deliver genuine value to other professionals who have contact with your target patients. I’ll also explore a surprising way to leverage patient reviews to strengthen your connection with those providers who actually send patients your way. This “highlight” is from a Q&A call with my Mastermind Gold group—a highly interactive, supportive group where people who have tons of questions and concerns about how to start, grow, or transition to a cash-based private practice get the answers, resources, and confidence they need to build the practice of their dreams. We have a group coaching call every week, and we occasionally use excerpts of those calls for this podcast. USEFUL INFORMATION: Check out our course: A Little-Known Yet Easy Way to Generate at Least 1 New Referral Source Each Month

Duration:00:14:57

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CBP 229: Using email to convert leads in cash-based practice

11/4/2023
If you’re hoping to compete in the increasingly crowded cash-based marketplace, building genuine connections with your potential patients isn't nice to have, it’s essential to success. So this week’s podcast delves into the art of authentic patient engagement using email to convert leads without any pushy sales tactics. As a bonus, if you scroll down this page, you can download a guide on how to get AI to do the heavy lifting when it comes to writing those emails. This resource walks you through the steps that help ChatGPT write engaging, market-optimized content you can use to nurture and convert your leads. In this episode, I explain several approaches that can help make it easy for a busy practice owner to pull off powerful email campaigns that build lasting, trust-based patient relationships. You’ll hear about an automation strategy that can allow you to easily target leads based on where they came from, how to weave the magic of storytelling into your emails, and how to design a coordinated communication strategy that drastically reduces appointment drop-offs. This “highlight” is from a Q&A call with my Mastermind Gold group—a highly interactive, supportive group where people who have tons of questions and concerns about how to start, grow, or transition to a cash-based private practice get the answers, resources, and confidence they need to build the practice of their dreams. We have a group coaching call every week, and we occasionally use excerpts of those calls for this podcast. USEFUL INFORMATION: Check out our course: How to Generate New and Return Patients via Email in Just 15 Minutes a Week

Duration:00:15:54

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CBP 228: Healthcare interview tips to find the right candidate for your practice

10/19/2023
Every practice owner knows the sting of hiring someone who seemed perfect on paper, only to discover their attitude doesn't align with the existing practice values. It's not just about credentials… it's about finding someone who truly resonates with your approach to patient care. Fortunately, there are some simple healthcare interview tips you can put to use that will help you avoid the unpleasant surprise of a bad hire. Even better, by scrolling down this page, you can download an incredibly powerful HR tool that will help you determine precisely what really drives an interviewee. In this podcast, you’ll hear how to push candidates to reflect on their past experiences and compel them to go beyond rehearsed answers. Since past performance is often the most accurate predictor of future behavior, you'll be equipped with a strategy to ensure your next hire is not only skilled but also wholeheartedly buys into your patient care philosophy. This “highlight” is from a Q&A call with my Mastermind Gold group—a highly interactive, supportive group where people who have tons of questions and concerns about how to start, grow, or transition to a cash-based private practice get the answers, resources, and confidence they need to build the practice of their dreams. We have a group coaching call every week, and we occasionally use excerpts of those calls for this podcast. USEFUL INFORMATION: Check out our course: How to Attract Top Talent, Manage Like a CEO, and Fill New Clinicians’ Schedules with Patients As Quickly As Possible

Duration:00:08:31

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CBP 227: Converting Attendees into Cash-Pay Consults at a Busy Event

9/19/2023
Imagine you’re at a busy event, and more than one potential client is waiting to talk with you. How can you juggle prospects in a way that makes the most of all your opportunities? This is a common problem for practice owners who choose to try some event marketing without a team at their disposal. The environment can be overwhelming, and the pressure to get attendees to sign up for a consult can sometimes lead you to sacrifice one sale for another. Fortunately, there are some simple strategies for converting attendees into cash-pay consults that can help you get the time you need with each prospect. In this podcast, you’ll hear me coaching one of my Mastermind members on how to manage the crowd at an upcoming event to maximize the number of scheduled consults for her mobile PT practice. You’ll hear tips on how to avoid feeling rushed, leveraging non-clinical help to speed up assessments, using virtual consultations for follow-up, discount strategies, and screening participants so you can invest your limited time wisely. This “highlight” is from a Q&A call with my Mastermind Gold group—a highly interactive, supportive group where people who have tons of questions and concerns about how to start, grow, or transition to a cash-based private practice get the answers, resources, and confidence they need to build the practice of their dreams. We have a group coaching call every week, and we occasionally use excerpts of those calls for this podcast. USEFUL INFORMATION: Check out our course: How to Generate New and Return Patients via Email in Just 15 Minutes a Week

Duration:00:10:04

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CBP 226: Silent Profit Killer: The True Cost of an Ineffective Admin in a Cash-Based Clinic

9/5/2023
Every private healthcare practice owner knows the importance of a well-functioning front desk. But have you ever stopped to consider the true cost of employing an admin who isn’t great at conversions? You may be shocked to discover your actual investment for keeping an ineffective admin on staff can quickly add up to thousands, maybe even more than 5 figures. In this podcast, I delve into the hidden pitfalls that arise when your admin isn't up to par. The impact on your bottom line is undeniable… after you've worked so hard to get the phone ringing, you have someone effectively chasing away customers! So let’s dig in to uncover this silent profit killer and learn how you can address it head-on. This “highlight” is from a Q&A call with my Mastermind Gold group—a highly interactive, supportive group where people who have tons of questions and concerns about how to start, grow, or transition to a cash-based private practice get the answers, resources, and confidence they need to build the practice of their dreams. We have a group coaching call every week, and we occasionally use excerpts of those calls for this podcast. USEFUL INFORMATION: Check out our course: Automated Top Talent Attraction And Hiring System

Duration:00:11:02

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CBP 225: Cash-based memberships: transform your practice with recurring revenue

8/30/2023
Imagine your healthcare practice thriving on predictable income that is not dependent on an uninterrupted flow of new patients. This foundation can help keep your business in the black, even when the economy tightens. And that’s why this week’s podcast explores the transformative power of cash-based memberships and how they can revolutionize a private healthcare practice. In this episode, I share insights and strategies that can help you build a pipeline of reliable, recurring revenue for your clinic. You’ll hear creative ideas for crafting memberships that provide value to patients at a low cost for the practice, how to market them to your patients, and tips for differentiating your membership options to appeal to different targets. This “highlight” is from a Q&A call with my Mastermind Gold group—a highly interactive, supportive group where people who have tons of questions and concerns about how to start, grow, or transition to a cash-based private practice get the answers, resources, and confidence they need to build the practice of their dreams. We have a group coaching call every week, and we occasionally use excerpts of those calls for this podcast. USEFUL INFORMATION: Check out our Masterclass: How to Recession-Proof Your Practice in 2 Hours

Duration:00:11:03

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CBP 224: Email strategies that bring patients back

8/16/2023
Are you missing out on the easy sales that can come from people who already understand the incredible value of your cash-based services? Just because a patient has completed their full plan of care doesn’t mean they won’t have a need in the future—or that they don’t have a friend or family member you would be able to help. Yet many practice owners fail to tap into this ready pool of potential business! So in this episode, I explain some email strategies that can help keep your connections strong with discharged patients. You’ll hear about some options for maintaining a presence in your former patients’ inboxes, so you’ll be top of mind the next time symptoms surface or whenever they can refer someone to your practice. Whether automated efficiency or personal touch is your forte, I’ve got some tips for providing ongoing value and capitalizing on the prime period in which symptoms are likely to return following discharge. This “highlight” is from a Q&A call with my Mastermind Gold group—a highly interactive, supportive group where people who have tons of questions and concerns about how to start, grow, or transition to a cash-based private practice get the answers, resources, and confidence they need to build the practice of their dreams. We have a group coaching call every week, and we occasionally use excerpts of those calls for this podcast. USEFUL INFORMATION: Check out our Masterclass: How to Generate New and Return Patients via Email in Just 15 Minutes a Week

Duration:00:11:31

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CBP 223: Bulletproof Your Healthcare Practice With A High-Ticket Offer

8/3/2023
Could your practice benefit from the noticeable injections of revenue a high-ticket offer can provide? This is one of my favorite strategies for recession-proofing, as it tends to appeal to affluent customers who are less price sensitive, and it can help make up for any slowdown in business during an economic downturn. And that’s why this week’s podcast explains some highly effective approaches for marketing a costly program or package. You’ll hear how to leverage your existing list to promote the offer in a way that actually converts, and we’ll explore an easy strategy to pluck the lowest-hanging fruit with an irresistible email offer. Then you’ll hear how you can use a simple webinar to nurture all your warm leads so they’ll be willing to invest in a platinum-level offer. This “highlight” is from a Q&A call with my Mastermind Gold group—a highly interactive, supportive group where people who have tons of questions and concerns about how to start, grow, or transition to a cash-based private practice get the answers, resources, and confidence they need to build the practice of their dreams. We have a group coaching call every week, and we occasionally use excerpts of those calls for this podcast. USEFUL INFORMATION: Check out our Masterclass: How to Generate New and Return Patients via Email in Just 15 Minutes a Week

Duration:00:11:09

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CBP 222: Elevate Your Referral Game by Tapping into Affluent Patient Networks

7/20/2023
As the owner of a cash-based practice, you know the value of having patients that can easily afford to pay out of pocket for top-quality care. Today, I'm excited to share with you a simple promotional strategy that I personally use in my practice to tap into affluent patient networks. These discerning individuals highly value the exclusivity and personalized attention an OON provider can offer, and better still, selling some high-ticket services can help keep a practice profitable during periods of increased economic stress. In this episode, I’ll explain the art of asking wealthy buyers for referrals in a way that allows them to feel generous about recommending your services to their friends and family. You’ll also hear how to quickly position your practice as the premier choice for influential patients, so you can take your practice to the next level. This “highlight” is from a Q&A call with my Mastermind Gold group—a highly interactive, supportive group where people who have tons of questions and concerns about how to start, grow, or transition to a cash-based private practice get the answers, resources, and confidence they need to build the practice of their dreams. We have a group coaching call every week, and we occasionally use excerpts of those calls for this podcast. USEFUL INFORMATION: Check out our Masterclass: 5 Simple Strategies That Turn Existing Patients Into a Predictable Source of Referrals

Duration:00:08:20

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CBP 221: Raise Rates Fearlessly in a Cash-Based Practice

6/29/2023
The thought of raising rates often stirs up feelings of stress and uncertainty—even outright panic—for a cash-based practice owner. And that fear can keep you working for less than you’re worth for years! But, I’m here to tell you that by equipping yourself with the right knowledge and strategies, you can confidently wrangle your sense of dread so you can raise rates fearlessly and help get your practice to the next level! In this podcast, you’ll discover effective ways to manage your anxiety and make informed, rational pricing decisions for your practice. You’ll hear ideas for how you can handle existing patients, manage price objections, strategically assess your results, and quickly fill any holes in the schedule. This “highlight” is from a Q&A call with my Mastermind Gold group—a highly interactive, supportive group where people who have tons of questions and concerns about how to start, grow, or transition to a cash-based private practice get the answers, resources, and confidence they need to build the practice of their dreams. We have a group coaching call every week, and we occasionally use excerpts of those calls for this podcast. USEFUL INFORMATION: Check out our Masterclass: How to increase your cash pay rates, maximize profits, and minimize customer pushback on cost

Duration:00:09:45

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CBP 220: How to avoid hiring a future cash-based competitor

6/14/2023
Are you about to make a critical mistake now that you found an amazing clinician who is interested in a job? In our zeal to nab a talented candidate, we often tend to overlook the longer-term motivations behind their current career ambitions… and I can tell you from personal experience, learning your star employee is going out on their own to compete with you is an expensive, painful lesson you won’t soon forget. So how can you avoid hiring a future cash-based competitor? In this episode, I share the wisdom I’ve gained from my own experience as well as that of many of my coaching clients on how to find out if that fantastic candidate really sees your job as a stepping stone to a practice of their own. You’ll discover what to watch for and how to discuss the topic to learn if they have entrepreneurial ambitions or would be perfectly happy to be a loyal member of your team for the long term. This “highlight” is from a Q&A call with my Mastermind Gold group—a highly interactive, supportive group where people who have tons of questions and concerns about how to start, grow, or transition to a cash-based private practice get the answers, resources, and confidence they need to build the practice of their dreams. We have a group coaching call every week, and we occasionally use excerpts of those calls for this podcast. USEFUL INFORMATION: Check out our course: How To Attract Top Talent, Manage Like A Ceo, And Fill New Clinicians’ Schedules With Patients As Quickly As Possible

Duration:00:10:42

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CBP 219: Hourly vs. base salary for your clinicians—What to know

6/1/2023
In today's competitive job market, it's crucial for practices to create employment packages that not only attract talented candidates but also keep them motivated during uncertain times. For a private practice, that often means you’ll be forced to decide if you can afford to offer a base salary when it becomes clear there are highly desirable candidates who simply aren’t interested in hourly compensation. In this podcast, I explore some strategies for finding a good balance between minimizing the risks associated with sky-high overhead costs and being able to entice clinicians who prefer stability in their compensation packages. We will explore ideas for creating a compensation structure that will allow you to hire the right people, make sure they’ll be willing to contribute fully as a part of your team and manage the financial risks so you can ensure long-term success for your organization. This “highlight” is from a Q&A call with my Mastermind Gold group—a highly interactive, supportive group where people who have tons of questions and concerns about how to start, grow, or transition to a cash-based private practice get the answers, resources, and confidence they need to build the practice of their dreams. We have a group coaching call every week, and we occasionally use excerpts of those calls for this podcast.

Duration:00:11:22