“Therapists are knowledgeable on a wide range of topics, but they can’t be experts in every field,” said Chhoda. “To build a successful business and avoid potential problems, it’s imperative that practitioners surround themselves with a team of consultants and advisers that can offer advice and strategies borne of experience and expertise.”
Chhoda noted that the success of any practice is dependent upon superior marketing tools, techniques, strategies and trends within the marketplace. The advice of specialists and experts in a variety of fields will help therapists anticipate trends, know when to expand their services, create a business plan, and evaluate available options for the future. A team of advisors can assist practice owners with the following:
Assembling and evaluating data;
Provide insight into past, current and future marketing campaigns;
Correlate patient numbers and referrals;
Offer networking options and new marketing outlets;
Provide information on the local economic climate and banking conditions;
Create exit strategies for retirement or selling the practice.
For smaller practices, clinics with limited funds and those just starting out, Chhoda said there’s no need to break the budget by hiring pricey PR and marketing firms. Valuable resources and contacts can be found in local foundations and organizations, and by collaborating with other professionals. Business associations, professional organizations and the chamber of commerce all work to promote their members.
The potential of family, friends, colleagues and co-workers shouldn’t be discounted. The expertise, skills and knowledge of those sources can be a wellspring of valuable information, and one that’s often overlooked. Leveraging those assets for the benefit of the business can yield untold opportunities.
As a recognized marketing expert, Chhoda’s new number one tip for financial success is the result of extensive analysis that encompasses conducting business in the new economy. It’s possible to locate advisors and consultants locally, but it’s important to realize those resources can often manifest in unlikely places. Chhoda noted that for the financial health of the clinic, practitioners should always remain open to any possibility and options that will benefit the business for years to come.
Chhoda’s office can be reached by phone at 201-535-4475. For more information, visit the website at http://www.emrnews.com.
ABOUT NITIN CHHODA
Nitin Chhoda PT, DPT is a licensed physical therapist, a certified strength and conditioning specialist and an entrepreneur. He is the author of "Physical Therapy Marketing For The New Economy" and “Marketing for Physical Therapy Clinics” and is a prolific speaker, writer and creator of products and systems to streamline medical billing and coding, electronic medical records, health care practice management and marketing to increase referrals. He has been featured in numerous industry magazines, major radio and broadcast media, and is the founder of Referral Ignition training systems and the annual Private Practice Summit. Chhoda speaks extensively throughout the U.S., Canada and Asia. He is also the creator of the Therapy Newsletter and Clinical Contact, both web-based services to help private practices improve communication with patients, delivery better quality of care and boost patient retention.