Is Patient Drop-off Rate Killing your Practice? with Vikram Sethuraman: CashPT Lunch Hour

struggling with patient dropp-off?

 

 

On today’s episode of the podcast, I speak with Vikram Sethuraman. He is the Founder and CEO of PT Wired. PT Wired is a patient engagement solution that helps physical therapy clinics prevent patient drop-off, improve brand engagement, and boost internal marketing. Each practice receives a fully-branded mobile app available via iOS, Android, and Web that patients can download to access their Home Exercise Program with videos/notes/reminders, as well as engage with clinic marketing content. Therapists are able to customize patient prescriptions and marketing experiences through the provider portal. When you address all of these issues, patient drop-off rate can be lowered.

As an athlete in college, Vikram felt his recovery was hindered by how he was given his at-home exercises from physical therapy. Receiving a list of exercises on a piece of paper left him thinking if there was an app that had videos of the exercises with the same cues he received from his PT while in office, then his recovery could be optimized. The North Carolina entrepreneurial community really helped foster his idea for starting PT Wired.

The initial discovery period Vikram took to understand the needs of the physical therapists was vital to his success. He knew he needed to understand their biggest problems to see if his solution would fit their needs. This is when he began to understand the cycle of patient adherence leading to patient retention, which is a key factor of patient drop-off.

“The probability of selling to an existing customer is 60 to 70 whereas a new customer is 5 to 20 percent”
The top four causes of patient drop-off:

-Low social support

-Goal setting

-Restructuring misconceptions

-Postive affect

Wired PT gives physical therapists another avenue for marketing. The app can relieve stress on the front office by allowing scheduling and payments. Part of the marketing process for Wired PT is providing education on the robust features it provides but helping PTs understand it’s more than just videos of exercises. 

Vikram offers unique insight into the patient-therapist relationship. You won’t want to miss this interview!

“Adherence is the Number One Indicator of Drop-off.”

Topics we cover:

-The problem of patient drop-off in PT, including contributing factors

-Ways to get patients to discharge rather than dropout

-Innovative PT marketing strategies through an app

-Duke versus North Carolina basketball

-Physical Therapy from the patient’s side

-Making the switch to entrepreneurship while in college

-Understanding the importance of branding

-Patient adherence and patient retention

-Focusing on customer retention instead of customer acquisition 

-Using virtual assistants and remote workers to increase efficiency

-Knowing your numbers

Connect with Vikram:

Websites

PT Wired Demo

Free E-book: Eliminate Patient Dropout

Email Vikram

Discount Code: LeBauer

Connect with Aaron:

Facebook

Instagram

CashPT Nation Facebook Group

 

If you are ready to launch and grow a Cash PT practice, DM me “Blueprint” to get started!

Plus: Whenever you’re ready… here are 3 ways I can help you grow your coaching business:

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It’s the road map to launch, grow & scale your physical therapy business. -> Click Here

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I’m putting together a new coaching case study group this month and if you’d like to work with me on your client-getting and scale plans… just send me a message at m.me/AaronLeBauer with the words “Blueprint”.

  1. Work with me and my team privately

If you’d like to work directly with me and my team to take you to 6 or 7 figures… just send me a message at m.me/AaronLeBauer with the words “Private”… tell me a little about your business and what you’d like to work on together, and I’ll get you all the details!

aaron lebauer

About The Author

Aaron LeBauer

Aaron LeBauer PT, DPT, LMBT started a 100% cash based physical therapy practice right after graduation. He's on a mission to save 100 million people from unnecessary surgery & enjoys helping passionate therapists build successful businesses without relying on insurance.

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