PRIVATE PRACTICE - AC23 - Marrying the Clinical and Financial Sides of PT: Tools for a lasting relationship.

Recorded On: 11/03/2023

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This course was recorded on November 3, 2023 | Course Level: Intermediate

Physical Therapy clinic owners often face challenges and pushback from staff when implementing their budgets. Due to budgetary concerns, staff therapists often feel limited in their growth and career opportunities. However, setting and abiding by a budget is imperative, especially in the industry's current state with annual reimbursement cuts and initiatives. Learn tools to help “marry” physical therapy's clinical and financial sides from a husband-and-wife team who are the CFO and Director of Clinical Services for a successful and growing Outpatient Physical Therapy Practice with over 15 clinics.

Upon completion of this course, the participant should be able to:
1. Develop an understanding of outpatient physical therapy clinic owners' challenges when incorporating a clinical model that allows the clinic to remain profitable.
2. Demonstrate the most impactful aspects of developing and implementing a budget in an outpatient clinic.
3. Understand how to use variance analysis to make timely and appropriate adjustments to your financial model.
4. Develop tools to educate clinical staff on the importance of maintaining budgetary guidelines.
5. Demonstrate how utilizing the same qualities that create a good marriage will also create good staff relationships.

Kathleen Hickman, PT

Director of Clinical Services

Main Street Therapy Partners

Kathleen Hickman, PT: Kathy received her BS degree in Exercise Science and her MS in Physical Therapy at Northern Arizona University in Flagstaff, Arizona. Kathy is currently the Director of Clinical Services for Mainstreet Therapy Partners. She has 15+ years’ experience delivering program development and education compliance, including co-developing an audit tool/legend, incident investigations, financial management education, and the development of a “Champion” tiered program for clinicians to become experts & instructors in specialty areas. She has presented at 9 State or National Health Care Conventions in Ohio, Pennsylvania, Kentucky, West Virginia, and Texas.

Disclosure(s): No financial relationships to disclose

Tim Hickman

Chief Financial Officer

Mainstreet Therapy Partners

Tim received his bachelor’s degree in Economics. As the CFO of Main Street Therapy Partners, Tim developed and oversaw the financial performance metrics required to grow the company from 1 clinic to 15. He is also CEO of Hickman & Associates, which advises small businesses on financial, budgeting, and strategic growth initiatives. He acquired a distressed brewery and returned it to profitability before selling it to a strategic buyer. He has also been the Director of Acquisitions for a public company and owned and sold a solid waste company, which he grew from $7M to 29M in sales.

Disclosure(s): No financial relationships to disclose

Course Instructions

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