E479 | The Best Way To Resell Packages

Selling front-end, prepaid packages to your clients produces better outcomes for the people that you are treating but it also gives you a cash-flow spike as well. Better outcomes with your clients then produce more referrals and repeat business. Today, I talk about the best way we have seen in reselling those packages and generating recurring revenue. Enjoy!

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Podcast Transcript

Danny: Hey, I've got a question for you. Do you know if you're tracking the right data, the right metrics to the right key performance indicators in your practice? This is something that's huge for us and really helps us make solid decisions within our business, but the prior software that we're using to run our practice made it really challenging.

To actually get that data out and use it in reports. Since we've switched to PPG everywhere, this has actually become way, way easier for us to be able to have the right data. We have a dashboard of all the things that we actually want to see, the metrics that we want to pull, and it makes our life a lot easier to pull the information that we need to make the right decisions within our business.

So if you're running blind and you're not tracking the right things, or you're. Hard time actually pulling everything together. I highly recommend you check out our friends at PT Everywhere and see what they've got going on with their software platform. It's what we use for our practice. It's been a game changer for us.

You can check 'em [email protected]. I think you really like it. So here's the question. How do physical therapists like us who don't wanna see 30 patients a day, who don't want to work home health and have real student loans create a career and life for ourselves that we've always dreamed about?

This is the question, and this podcast is the answer. My name's Danny Mate, and welcome to the PT Entrepreneur Podcast.

What's going on guys? Doc Danny here with the PT Entrepreneur Podcast, and today we're talking about the best way to resell packages. So what I mean by that is how do we get people that we've worked with and in many cases People in cash and hybrid practices are using a model where they use packages on the front end a package of visits that are prepaid to initiate the the service or the initial charge with a client to really build out a plan of care to help solve long-term problem with them.

So that's great and that'll do a lot for your business from what we've seen and from all the clients that we work. The vast majority of them run this model. It's very rare that somebody doesn't but what happens with that is you get big cash flow spike on the front end because you have prepaid.

Visits. You have prepaid service, which is good for your business. It's good for the patient in a lot of ways as well because they're pot committed. They've got skin in the game. When you pay attention. So we see actually like really good outcomes that people get in comparison with when they do one-off visits cuz they tend to drop off around visit two to three.

Cuz symptomatically they feel better, but if they can make it for an entire plan of care, complete that plan of care, they're. Do great if you're doing the right thing with them. And that increases referrals, that increases the likelihood that you're gonna, you're gonna have repeat business from them.

It increases a lot of things. So it's definitely a very important element of of the business model from what we've seen and what we teach now. The other part of that is is great is not just the a package on the front end as far as, cash flow goes, but when you can get that reoccurring revenue from a client, it just shows a couple things.

Number one, they really value what the, what you do. They wanna work on something long-term, hopefully, proactively. That's the goal that we're just keeping them. Working towards long-term health and wellness goals that they have, or honestly, whatever it is that your niche is, your specialty is that you do.

And one of the best ways that we've seen to do that is reselling additional packages. What I want you to think about with this is think of a package as like a punch card to a gym. Let's say you go to a yoga studio and you don't, maybe you don't want to go. Every, day or a couple times a week, maybe you only want to go once a week, right?

So for you, it makes more sense. To buy like a package of 10 or 20 sessions and then just chip away at it and then buy another one whenever you've exhausted all those and just keep going at it that way. A lot of people do the same thing with visits, with these performance based cash-based practices for them to chip away at.

Sessions with with a provider or maybe a little thing that pops up or maybe they have an event that they're training for and they want to come in and get seen before, after it. Lots of different ways that, you can utilize those. But one of the best ways that we've found to resell. Packages is actually to have family members share those together.

So this is something that a lot of people in our mastermind do successfully. They find a lot of benefit from family members splitting packages. And what's cool about this is let's say you have a family of four, and we actually have a ton of families that we work with that chip away at these packages.

And, real numbers, if we look at these kind of reoccurring visits of packages that are just being used sporadically throughout a year it equates to a little over $12,000 a month in revenue for. Cash-based practice. That's a significant amount. Like it, it pays for all of our fixed costs and a good chunk of our payroll just with people that are coming back and chipping away these packages.

And a lot of those people are actually families. So it's husbands and wives like couples, right? Just people that are gonna share that or it's families with with kids that. Involved in youth sports, which is, we actually see quite a bit of this. So let's say we have, two adults that are active.

One's a runner, one. Plays adult soccer or something. And they have two kids. One maybe does, youth triathlons. And the other one is a, is a youth basketball player. And what'll happen is we'll see everybody in the family at different periods of time during the year, depending on in season stuff or training and what's going on, or, just.

Stuff that happens, right? Maybe they tweak their back picking something up or training or whatever happened. But what's cool about it is we get to work with the whole family and we develop, it's a really cool relationship and trust that we develop with them that allows us to become that, musculoskeletal primary care provider, which is, the role in, in the.

The way that they function with PTs is you would never go and see a PA or a physician for back pain or knee pain first, right? It's, they're busy and there's not that many of them, and they wanna see sickness issues, right? They wanna make sure somebody doesn't have a viral disease of some sort or whatever.

It's up to us to understand red flags in primary care. To where if we see something weird, we refer to the PA or the physician versus them, see everybody with a musculoskeletal issue and then refer to us because 80% of the problems that occur in a troop medical clinic are gonna be musculoskeletal, like it's training injuries, training related injuries.

It's not, it's, it. Meningitis or something like that. Like it's, that's less common than a sprained ankle. So for us, we get to develop this rapport and trust with people where that's what we turn into. They ask us first Hey, what should I do with this? And then it's up to us to use our correct judgment and training in musculoskeletal primary care work to be able to decide if they're appropriate to see us or to go somewhere else.

But that's a really good, important relationship to have. But that also leads to. Is continual services that you're able to provide to people that are your ideal, avatar active individuals, helping them stay that way, and it's great for business. The byproduct of that is, An in a dramatic increase in lifetime value of your clients and reoccurring revenue in your business.

So I highly recommend if you have not started using packages for at least, couples and. Families that you start looking at that it's a, it's actually a very good selling factor to people they know. They can share that with their families. I think for a lot of people, they draw this hard line in the sand.

It's oh, this is your package cuz you can't share this with anybody. I don't think that's the best way to go about it. I think families should be able to do that and and if you do that they'll use, the visits more frequently because, be more proactive about many of the things that they're doing, and they're gonna buy more packages, they're gonna chip away at it.

And and your business is gonna be better off for that because you're not just playing the eat what you kill game, where you gotta go out and find, new patients to have any revenue in your business. You're keeping people around that see value in what you do, and you're helping them create long-term positive change in their health and wellness.

And it's a win-win for everybody when you structure it this way.

Hey, Pete, entrepreneurs. We have big, exciting news, a new program that we just came out with that is our PT Biz part-time to full-time, five day challenge. Over the course of five days, we get you crystal clear on exactly how much money you need to replace by getting you a. Ultra clear on how much you're actually spending.

We get you crystal clear on the number of people you're getting to see, and the average visit rate you're going to need to have in order to replace your income to be able to go full-time. We go through three different strategies that you can take to go from part-time to full-time, and you can pick the one that's the best for you based on your current situation.

Then we share with you the sales and marketing systems that we use within our mastermind that you need to have as well. If you wanna go full-time in your own practice. And then finally we help you create a. Page business plan. That's right. Not these 15 day business plans. You wanna take the Small Business Association, a one day business plan that's gonna help you get very clear on exactly what you need to do and when you're gonna do it.

To take action if you're interested and sign up for this challenge is totally free. Head to physical therapy biz.com/challenge. Get signed up there. Please enjoy. We put a lot of energy into this. It's totally free. It's something I think is gonna help you tremendously, as long as you're willing to do the work.

If you're doing the work and you're. Information put down and getting yourself ready to take action in a very organized way, you will have success, which is what we want. So head to physical therapy biz.com/challenge and get signed up today. Hey, real quick before you go, I just wanna say thank you so much for listening to this podcast, and I would love it if you got involved in the conversation.

So this is a one-way channel. I'd love to hear back from you. I'd love to get you. Into the group that we have formed on Facebook. Our PT Entrepreneurs Facebook group has about 4,000 clinicians in there that are literally changing the face of our profession. I'd love for you to join the conversation, get connected with other clinicians all over the country.

I do live trainings in there with Eve Gigi every single week, and we share resources that we don't share anywhere else outside that group.

So if you're serious about being a PT entrepreneur, a clinical rainmaker, head to that group. Get signed up. Go to facebook.com/groups/ptentrepreneur, or go to Facebook and just search for PT Entrepreneur. And we're gonna be the only group that pops up under that.