PRIVATE PRACTICE - AC22 - The Keys to Unlocking Growth: Overcoming Predictable Barriers Faced by Every Owner

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This course was recorded on November 5, 2022

Have you ever wondered why the majority of physical therapy private practices have two or fewer clinics? Have you noticed some companies thrive until they reach a certain size, only then to get stuck and struggle with new issues? This is not a coincidence. In fact, 85% of US companies have fewer than 10 employees, and only 1% reach $10 million in revenue. Why does this happen? Predictable barriers to growth occur for most businesses at $1 million, $2 million, $5 million, and $10 million in annual revenue. Private practice owners can act intentionally to overcome these predictable barriers if they desire to grow.

In this presentation we will address exactly how what got you here, won’t necessarily get you to the next level. The company founder(s) could do everything in the beginning, but now talent needs to be intentionally developed and organized to achieve growth goals. As the team grows, it becomes more and more important to align company goals with owner and staff efforts. Alignment keeps everyone pulling the rope in the same direction and prevents wasted energy. Key results for each role should be consistently communicated in job descriptions, performance reviews, and bonus plans. Creating simple and consistent processes for tracking key metrics is necessary. Well-equipped leaders can act proactively to minimize resistance to change. Leveraging company values in hiring and reviews maintains a consistent culture as the company grows. Don't wait - start today by acting like the organization you want to be next year.

Mike Osler

PT, DPT

Mike is a proven leader in the PT industry. As a member of the 8150 Advisors team, he is passionate about helping others maximize their personal and professional value. Mike collaborates with private practice owners through strategic growth, creating next-level leaders, operational efficiency, and team engagement. Prior to joining the 8150 team, Mike helped Rock Valley Physical Therapy grow from 26 to 52 locations as its VP of Growth & Development. Previously Mike served as Director of Operations for Proaxis Therapy, where he was an integral leader in developing physician relations, operational excellence, clinical quality, and five-star patient experience. He has served APTA Private Practice as a Federal Affairs Liaison, APTA Delegate, PPS Impact Editorial Board Member, and PPS Annual Conference presenter.

Mike earned degrees from Mount Union College, Indiana Wesleyan University (specializing in leadership), and Duke University (DPT). Mike is a Certified Coach and DISC Personality Assessment Trainer through the Maxwell Leadership Team.
In addition to business ventures, Mike has led trips to Rwanda, Kenya, and Malawi with Zoe Empowers, a program which transforms child-headed households from charity to self-sufficiency. Mike lives in Iowa with his wife Kim, their four boys, and two dogs.

Brent Bednar, MPT, OCS

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