How to Attract Patients Happy to Pay Cash

Every single one of us is in business to make a profit, right? Otherwise, what’s the point? Sure, you want to help people and serve them well, but you could have worked for someone else all your career if that is all you wanted to do.

           Profit is very important, but I think there’s a tendency for physical therapy business owners to think that “if I just get more patients” everything will be okay. It’s as if volume will solve every problem they’ve got. That isn’t always the case. Ultimately, the purpose of a business is to turn your assets (of which your marketing system is one) into revenue, turn your revenue into profit, and your profit into cash. This way, you can cover the running costs that the business incurs and have the take home salary you deserve. If you do not focus on profit and having cash in the bank, you’ll struggle and eventually go out of business.

           Attracting more cash paying patients solves both of those problems in one go - more profit and more cash in in the bank. It's why I am such a big advocate of you getting a load more patients through your doors. With insurance reimbursements dropping year on year, what other option is there?

           I think the phrase “skate to where the puck is going, not where it has been” sums up the situation perfectly. If you are not chasing the puck in the direction of a significant amount of cash pay, then you are likely to find yourself with a business that might be growing but is getting less profitable as repayments drop. Owning a business like that is going to make you very tired, stressed, and always feeling like you have to work harder just to make the same money. Can you relate?

           I am going to share with you the exact strategy I used (the one that allowed me to be able to move away from relying mostly upon insurance-based patients), to now mostly cash pay clinic that is more profitable and sees less patients. I will be sharing with you precisely how I was able to market my practice to make it more attractive to higher value, cash paying patients. I’ll let you in on the number one secret to cash pay marketing success that I am glad I discovered so early on…

Are you looking to fill up your schedule with clients happy to pay cash? Learn how to add at least $100,000 in cash pay revenue in the next 12 months by reading my best-selling book, “New Patient Accelerator Method,” available at paulgough.com/books.