On this Physical Therapy Profit Academy Master Class, we’re going to show you why Physical Therapists are NOT in the game of just fixing people’s health or taking them out of pain…
…but why we’re actually in the “transformation industry” and should be charging a LOT MORE for our services than we are.
This article features a significant contribution from “Anil Gupta” of www.immediatehappiness.com, who is one of the world’s most gifted life coaches and is friends with people such as Tony Robbins and Sir Richard Branson.
Lets Start With A True Story:
About 12 months ago I was in “California” and was catching up with a Physical Therapist from Long Beach, who told me that she really isn’t comfortable with “charging people for her services”.
She said she wasn’t making the profits she deserved, and that alone was making it difficult for her to sustain keeping her own clinic open.
At the time, she was even considering going back to working for a big hospital system three days per week – just to keep some regular money coming in.
The problem was, she preferred to charge LOWER fees than any other PT clinic in her town, simply because she felt ‘bad’ about it, and even ‘guilty’ about it!
That’s not a good place for any business owner to be.
But, this is a place where I suspect a lot of PT’s find themselves.
And, it comes down to 3 things:
1. Their own perception of the value and meaning of money
2. No confidence in the ability to handle a conversation about money/value
3. No way of explaining what a PT REALLY does to help people that goes way beyond just “ending pain”, or “providing PT”
And it’s the latter that we’re going to talk about in this article:
“The reality that many PT’s have NO IDEA of the REAL thing they do to help people – even the ones who have been at it for years”.
Not understanding the REAL and significant value that I add to the lives of my patients was something that I struggled with at the very beginning of opening the Paul Gough Physio Rooms.
But when I moved away from thinking that I was asking people for money in exchange for a massage, or some exercises, or a manipulation or a certain type of stretch etc… the TRANSACTIONAL STUFF you do in each visit…
…to the TRANSFORMATIONAL value that I add to peoples lives, then it all of a sudden became a lot easier to ask people for the price I wanted to charge.
See, we’re in the TRANSFORMATION industry.
(Not the PT industry).
We’re in the game of making people feel happy and healthy…
Taking them from a world of pain, fear, uncertainty and skepticism about what the future holds…
…to a place which is a lot more happy, healthy, positive and confident – which allows them to live the life they want – on their terms.
And it’s the LATTER, for which you are asking for payment for.
(Not your time, or the massage etc.)
The truth is, feeling guilty about charging for your services isn’t going to pay the bills, or give you the life you dream of…
…the one that you deserve after the years of study and hard work and dedication – not to mention the risks involved in starting your business in the first place.
If you’re trying to overcome any obstacle – such as a fear of the money conversation – it helps to know what is happening in the first place.
So Let Me Ask You This:
“Why do we even feel guilty charging for our time and our services in the first place?”
I can think of a few reasons:
1. Lack of Understanding of Self-worth
This one can be hard to admit to ourselves, but if you’re honest – do you feel “worthy” when you’re providing your services to your patients?
What I mean by that is – do you feel that what you provide is worth what you charge?
Many of us don’t believe we are worthy…
We underestimate how skilled we are, and forget what we went through to get to where we are now…
And most of us don’t even realize the value of our skills in relation to the people who come to see us.
If we did – asking for money at the end of treatment sessions wouldn’t even be an issue!
This is where you have to understand that you have an almost ‘miracle performing’ talent.
You most likely take for granted your PT skills…
…but others see what you do as very unique, special and something they’ll pay good money for – because what your skills are doing is helping people to get BACK to living the life they want – before their chronic back pain got in the way, and before it severely limits the value and quality they can get from life.
Or…
2. You Don’t Consider Your Self To Be An Expert! (Yet!)
Maybe you’re a PT fresh out of PT school, or maybe you’ve only just opened your practice and don’t feel qualified as an ‘expert’ since you haven’t got ‘as much experience as the PT owner down the road’ – so how CAN you justify charging more?
What you have to forget is that experience means nothing if you’re able to help them with what they’ve got.
Experience is often “over-rated”…
Experience is often just another word for bad or lazy habits.
And do patients really care if you’ve taken 20 years, OR, just one month to learn how to fix their stenosis or sciatica or, whatever the thing is that’s keeping them from walking as far as they want, or playing with their grandkids?
Of course they don’t.
The trick is to NOT be taking money from people who you KNOW you can’t help…
When I first started the Paul Gough Physio Rooms I had a very limited number of skills – but ones that I knew could REALLY help people with certain and specific problems.
If people came to me and I couldn’t help them, I told them so, and I didn’t charge them.
This allowed me to build my practice and my reputation with integrity and confidence, knowing that people KNEW FOR SURE that if I took them on as a patient, they WOULD BE paying higher fees, but they’d be certain to get the outcome they wanted.
10 years on, my business is built upon that same philosophy of if we take you on, “you’ll pay higher fees for seeing us”, but you’ll be happy that you did because we know how to get a limited number of things – VERY RIGHT, and we’ll custom tailor an amazing experience along the way.
3. Fear Of The Relationship Changing
Sometimes, it’s easy to be concerned that money – and when you ask for it – will change the relationship with your patients, and they’ll go elsewhere…
But the reality is, nothing could be further from the truth.
Most patients are DESPERATE for you to bring the money thing up.
They’d be the ones FEELING GUILTY if you didn’t.
People recognize great service… and are happy to pay for it.
If people aren’t wanting to pay co-pay or deductibles – it’s often a good indicator that they don’t see the value, or haven’t felt it, so if it keeps happening it might be time to look at some other things you’re doing – or not doing.
Make sense so far?
What people are PAYING FOR is to walk away from your treatment room feeling great, knowing that their body is on the road to recovery…
To leave feeling positive knowing that soon they’ll be able to play with their grandkids again, play golf with their friends again, sleep easy at night, etc…
To go home knowing they’re equipped with the right exercise and strategies to ease their pain when, and if it ever strikes again…
So Now I Want You To Ask Yourself This:
If you had to visit a doctor and had a choice of who you went to see and you could choose between one who charges $10 an hour…
…or one who charges $30 an hour but got life-changing results…
Who would you pick?
My bet is the cost wouldn’t even factor in and you’d pay whatever the price was, to get the result that you NEED.
So it’s exactly the same with YOU.
When you perform your PT services you’re doing so much MORE than just easing back pain or fixing a knee injury. – you’re giving people back their life.
Just think how incredible that is.
You’re giving them back their happiness, their freedom, joy, laughter, their quality time with loved ones.
Write This Down:
The work that you do as a Physical Therapist is not transactional…
…it’s “TRANSFORMATIONAL”
People WILL pay for TRANSFORMATION.
So, What Can You Do To Get Over Feeling The Guilt That’s Holding You Back?
1. Understand the real difference you are making to your patient’s life.
For the services you’re providing, just look at what you’re helping that person to achieve.
Think about their goals and what they were being stopped from doing – before they came to see you.
The real point to re-iterate is recognizing that – the work you’re doing is NOT transactional it’s TRANSFORMATIONAL.
Therefore people WILL pay higher prices.
2. Recognize you can never get that time back
Guilt doesn’t pay the bills, and it certainly won’t grow your practice!
3. Realise that people VALUE what they pay for
You’re making a difference!
At the end of it all, giving away your help for little money, or for free – very rarely creates the outcome your patients are looking for.
From my experience, patients
a) Value your expertise
And
b) Will actually put what you’ve given them to good use, if they’ve had to make an investment.
If they haven’t, there’s no motivation to ‘make the changes they need to make right now.’
So yes, give away a part of your knowledge – that patients, (and potential patients), will get true and quick value from…
…but then show them the transformation they could get by investing in Physical Therapy with YOU.
Another thing…
You’ve also got to separate your business from your emotions – of course you want to help people.
If you didn’t have that drive, you wouldn’t have opened your own clinic!
But you can’t help people the way you want to – the way they need you to – if your business doesn’t survive.
Asking for money can be uncomfortable to start with, but that can be changed with a few tweaks to the way you think about money and the value of what you’re providing.
If people really want to achieve the lifestyle you can give them, in my experience, they will always find the funds they need.
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