PPS 2024: Thriving Amid Uncertainty
Zero Politics in the Shadow of the Presidential Election!
As hundreds of physical therapists and private practice owners make their way to our nation’s capital for the 2024 Private Practice Section (PPS) conference, it’s impossible not to reflect on how Washington, D.C. shapes so many aspects of our personal and professional lives. In just a few weeks, millions of Americans will cast their votes for the next President. While this article steers clear of political endorsements, it acknowledges that some future factors affecting the physical therapy profession lie beyond our control.
Come November 5th, barring any major surprises, the United States will elect its next president. However, much like an ocean liner adjusting its course, significant changes to policy and regulations will take time. As physical therapists and practice owners, it’s crucial to prepare now to navigate the evolving landscape. One of the best ways to stay informed is through resources like the October 10th release of the APTA Regulatory, Legislative, and Payment Updates, where you can get the latest news from the American Physical Therapy Association (APTA). State-specific updates are also invaluable for tracking legislation that directly affects your practice, such as New York’s recent passage of the WCB PTA Bill (S9462-A/A 1204-A), which allows physical therapy assistants to treat workers' compensation patients under supervision.
Maximize Your Time at PPS 2024: It’s All About Competitive Operational Advantages
While advocacy for the profession has multiple pathways, as a private practice owner attending PPS, your focus should be on one thing: leveraging competitive operational advantages. If the presentations and sessions feel like reruns of previous content, ask yourself: why pay a premium to hear what you already know?
Physical therapists face numerous external variables that influence their practices—things like fee schedules, ADRs, and audits, over which they have little control. That’s all the more reason to focus on the things you can control. Technology, diversification of services, and financial due diligence are the puzzle pieces that will help you navigate this uncertain environment and reach your goals.
For example, if you're still asking your staff to review documentation notes quarterly or relying on ancient equipment from 1995, how do you expect to remain competitive in 2025? Sure, you can’t control the election outcome or reimbursement rates, but you can choose partnerships that provide specialized advanced tools and empower leadership within your organization.
The Key Vendors to Watch
Here’s a list of vendors, in no particular order, that have (more or less) consistently turned technology into competitive operational advantages:
StrataPT: They openly share valuable industry benchmarks to help you measure performance and drive growth. Check out their data here.
Comprehend Health: Offering a scribe service, this tool helps therapists cut down on documentation time, freeing up hours for patient care. Learn more.
PT Wired: If you're still asking the same questions about Remote Therapeutic Monitoring (RTM) nearly two years in, it's time to catch up on this Medicare-approved service. Explore more.
Prediction Health: Manual documentation audits and quality assurance are things of the past with their transparent predictive audit tool. Find out how it works.
CM&F: Worried about cybersecurity in the face of increasing attacks? Your insurance policy might not cover everything (cyber is often excluded). Get a cyber insurance quote today. Protect yourself.
NeuPTTECH: If you’re looking for a competitive advantage for your private practice, consider NeuPTTECH’s NEUBIE device for therapy. The NEUBIE (Neuro-Bio-Electric Stimulator) is intended to identify and treat patients’ neurological functions for faster healing, recovery, and pre-injury functionality.
Risk & Compliance Analytics: Your competitive operational advantage won’t be complete without actual role-based training, resources and tools to help you execute your plan. With decades of therapy compliance experience, we stand alone in offering comprehensive operational compliance services to physical therapy practices without the outrageous fees.
Expanding Services and Protecting Your Practice
Considering offering in-home therapy services? Use our tailored audit checklist to identify potential risks and areas of exposure before you make the leap. Or perhaps you’re thinking of transitioning to cash-based services or wellness programs. We can create customized waivers to protect your practice every step of the way.
Take Control of What You Can, Regardless of the Election Outcome
Watching the election results roll in might be nerve-wracking, but your business decisions don’t have to be. Use PPS 2024 as an opportunity to ask hard questions, evaluate ROI, and identify partners who can help you secure competitive operational advantages. If you find yourself listening to the same old "experts" saying the same old things, ask yourself: “Why?”
Be adaptable. Be innovative. And, most importantly, partner with those who can help you thrive—no matter who occupies the Oval Office.
Daniel Hirsch PT, DPT, CHA, OHCC, COCA is a licensed physical therapist with over 15 years of risk management and compliance experience. He is CEO of Risk & Compliance Analytics LLC, a comprehensive compliance solution for outpatient therapy practices. He has experience in both Property & Casualty and Life & Health Insurance, has served as the Chief Compliance Officer for large multi-state Physical Therapy practices, is an educator on Therapy Ethics and the Profession, and has numerous compliance and ethics certifications.
You can find Daniel on Linkedin: https://www.linkedin.com/in/daniel-hirsch-dpt/
Follow his company page on LinkedIn: https://www.linkedin.com/company/risk-compliance-analytics-llc/
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