Hybrid Physical Therapy: Higher Average Visit Rates

In the world of physical therapy, hybrid practices have a unique advantage. By combining the flexibility of cash-based services with the stability of insurance payments, hybrid models allow practitioners to increase their average revenue per visit.

In this post, we'll explore why hybrid practices can achieve higher revenue and share proven strategies for raising your rates without losing clients.

1. Why Hybrid Practices Have Higher Average Revenue Per Visit

• Combining Cash and Insurance-Based Payments:
  Hybrid practices can offer premium services to cash-paying clients while still accepting insurance payments for other services. This flexibility allows practitioners to maximize revenue streams without being fully dependent on one payment model.

• Customized Care Plans and Packages:
  Hybrid practices can tailor treatment packages to meet individual client needs, allowing them to offer high-value services that go beyond traditional insurance-covered treatments. This can justify higher rates and increase the average revenue per visit.

• Low-Volume, High-Quality Care:
  Hybrid models emphasize quality over quantity, enabling therapists to spend more time with each patient. This personalized approach not only improves patient outcomes but also allows practitioners to charge premium rates for their services.

2. The Benefits of Raising Your Rates in a Hybrid Model

• Increased Profit Without Additional Overhead:
  One of the most significant benefits of raising your rates is the potential for increased profit without any corresponding increase in overhead. By simply charging more per visit, you can significantly boost your bottom line without hiring additional staff or expanding your clinic.

• Positioning Yourself as a Premium Provider:
  When you raise your rates, you signal to potential clients that your services are worth the investment. This can attract clients who are willing to pay more for high-quality care, further increasing your average revenue per visit.

• Flexibility to Grow and Scale:
  With higher revenue per visit, hybrid practices have the financial flexibility to invest in growth, such as hiring additional staff, expanding services, or upgrading facilities. This creates a pathway for scaling the business without sacrificing the quality of care.

3. Two Proven Strategies for Raising Your Rates

• Silent Price Increase:
  One of the simplest ways to raise your rates is through a silent price increase. Without any formal announcement, you can adjust your pricing structure for new clients or future visits. This strategy allows you to gradually implement higher rates without causing disruption or alarm among your existing clients.

  • Example: If you're currently charging $120 per visit, consider raising your rate to $150 or $175 for new clients or future appointments. Most clients won't notice the change, and you'll start seeing an immediate increase in revenue.

• Reactivation Price Increase:
  A reactivation price increase is an excellent strategy for generating quick cash flow while raising your rates. Reach out to past clients and offer them a limited-time opportunity to purchase packages at your current rate before prices go up. This strategy not only re-engages former clients but also helps boost your revenue before implementing the higher rates.

  • Example: If you're planning to raise your rates to $200 per visit, contact your past clients and offer them one last chance to buy a package at the old rate of $150. This creates a sense of urgency and scarcity, increasing the likelihood that they'll take advantage of the offer.

4. Overcoming Common Barriers to Raising Rates

• Fear of Losing Clients:
  One of the biggest fears practitioners face when raising their rates is losing clients. However, as the podcast mentions, clients value the quality of care you provide and are often willing to pay more for it. By gradually increasing your rates and focusing on delivering exceptional service, you can retain your client base while boosting your revenue.

• Improving Your Sales Skills:
  Confidence in your ability to charge higher rates often comes down to your sales skills. By improving how you communicate the value of your services, you can justify higher prices and ensure that clients see the worth of investing in their health.

5. Conclusion: Charge What You’re Worth

Raising your rates is a critical step in the growth of your hybrid physical therapy practice. By strategically increasing your average revenue per visit, you can build a more sustainable, profitable business while continuing to provide the high-quality care that your clients deserve.

Whether you choose a silent price increase or a reactivation strategy, remember that your expertise and services are worth it. Now is the time to take action and elevate your practice.

Ready to elevate your practice? Book a call at the link below with one of our expert consultants today and start your journey to delivering unparalleled physical therapy.