Building a Million Dollar PT Clinic in 2024 (feat. Justin Stiver)
On this episode of Strata Stories, we talk with Justin Stiver the owner of Total Therapy Florida.
We dive into:
1. How to build a million-dollar clinic with healthy margins
2. Determining employee compensation and incentives
3. How to upsell additional services
4. The key to physical therapy businesses succeeding outside of local neighborhoods
5. And lastly, Justin provides an update on his content strategy and explains exactly how they’ve been creating content in the clinic
Episode Highlight: “We actually had three clinics break the $1 million mark, which was the first time any clinics ever broken that. In those clinics, you start seeing the profit margins going from 25 to 27 to 30%. All the clinics dropping below 500,000 lose money for us. If a private practice owner is sitting in that $400,00 to $600,000 range, I feel their pain because they are working their tail off and they’re not seeing the margins where they want them to be.”
Strata Stories are conversations between Strata’s CEO, Paul Singh, and leaders in the OT & PT world. We interview practice owners, therapists, consultants, and coaches disrupting healthcare to make a positive change!
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