Four areas of investment offering a genuine return
There are two types of investment in a physiotherapy practice: those that increase turnover and those that reduce costs. The best ones do both at the same time.
Firstly: Medical exercise therapy.
Practices that set up an MTT area tap into their own self-paying patient segment. The statutory health insurance rate remains stable, but the pricing of additional services for patients who wish to train on a long-term basis is flexible. This is worthwhile if the space is available and the team has received the necessary training.
Secondly: Practice management and practice software.
That might sound less spectacular than a new piece of equipment. But the opposite is true: this investment takes the greatest strain off your team of all. It makes your day-to-day therapy work easier and reduces the administrative burden for the whole team.
Thirdly: People and team culture.
What is often overlooked is that investing in staff has just as direct an impact on the practice’s success as new equipment. An additional therapist creates capacity, takes the pressure off you and gives the team some breathing space. Targeted leadership techniques also strengthen your team enormously. Make a conscious effort to incorporate team culture topics into your team meetings. Ask, for example: What values are important to us? Do we project them to the outside world? And do we truly live by them in our day-to-day practice? It costs nothing but time. And it has just as strong an impact on the culture as any investment.
Fourthly: Diagnostics.
Biomechanical measurements allow you to make your treatments transparent. You ensure your records are complete. And you boost your credibility with referring doctors. The right tools are available at both affordable and very high prices. This makes no difference when it comes to billing for services. Whether you choose an affordable or an expensive device, the benefit to your practice remains the same. What is crucial, however, is that you use the devices consistently. Only then will the investment pay off.
What experience has shown is not worth the effort
Expensive equipment that you can’t utilise to full capacity. If a therapy machine costing 20,000 Swiss francs is only used three times a week, it isn’t cost-effective. The basic rule: only invest in equipment that will actually utilise at least two-thirds of its capacity. And: investment in equipment is no substitute for investment in people. Anyone who buys a fancy reception desk but fails to reward their team and invest in team culture will still lose staff in the long run.
How network partners make clearer decisions
Investment decisions are easier to make when you’re not making them on your own. In the SPP network Practice owners share their real-life experiences. Which piece of equipment has proved its worth? Which refurbishment was the biggest mistake? Which team initiative has really made a difference? These genuine insights save time and money.
The bottom line: Invest in what helps your practice grow, takes the pressure off your team and makes your practice more sustainable. This applies to equipment. It applies just as much to people. Would you like to know how other practice owners in our network have developed their facilities and their teams? Get in touch with us.
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Partnership
Personal, trusting and on an equal footing with Julian Weber.
