In this insightful episode, Mark Kargela and Jarod Hall discuss the monetary hurdles facing physical therapists, examining both the systemic issues in healthcare and the potential for new, diversified revenue streams. They dive deep into how physiotherapy can move from being a revenue generator to a cost-saver, and the role of lifestyle and wellness services in a more fiscally sustainable model.
****CHAPTER MARKER******
00:00 - Start
03:00 - What is Jarod currently up to?
07:02 - New grad/student expectations versus reality
17:59 - What storms are on the horizon?
27:58 - Criticisms of the cash based PT craze
36:32 - What emerging models of care are out there?
Key Takeaways:
Cost-saving vs. Revenue Generation: The need for physical therapists to transition from being mere revenue generators to crucial cost-savers in healthcare systems.
Alternative Revenue Sources: Exploring side programs that offer counseling and education as alternative income streams, highlighting the role of physical therapists as 'health quarterbacks' for patients.
Data and Research: The importance of collecting data to prove the cost-saving benefits of physical therapy over time, emphasizing that immediate financial gains shouldn't be the sole focus.
Wellness and Long-term Management: Discussing the untapped opportunities in lifestyle and wellness services for physical therapists, including examples like fitness and wellness programs.
Systemic Challenges: An overview of the larger healthcare problems, particularly in the United States, that make it difficult to implement cost-saving strategies on a large scale.
Personal Engagement: Jarod Hall extends an open invitation for listeners to reach out to him with any questions, affirming his role as both a clinician and a business professional.
For clinicians and patients alike, this episode offers a critical look at the financial aspect of physical therapy and provides thoughtful solutions for a more sustainable future.
