Physical therapy is a booming industry, with a market size of $46 billion in 2022 and a 5.7% growth expectancy for the upcoming year. This is great news for clinicians, as it means that more people are seeking out physical therapy services. However, there’s also a downside: competition.
If you want your clinic to stay competitive and see growth in this market, you have to be strategic in how you run your clinic. Here’s a list of physical therapy business strategies that could help you to grow and outperform your competitors over the next year.
1. Offer virtual PT services
In-person physical therapy presents some barriers that prevent customers from seeking it. Some patients might be too tired or in too much pain to come to your office, for example. Others might not think that their pain is bad enough to warrant a PT visit. Then, of course, there are still lingering fears about viruses, especially for older demographics.
Virtual physical therapy eliminates these barriers, offering a convenient alternative for people to in-person sessions. It also expands your potential customer base, allowing you to serve people outside of driving distance from your clinic. In other words, it could be a great path to growth.
2. Learn about SEO
Search engine optimization (SEO) is a series of strategies that can help your website to appear higher in search engine results. In other words, when people search for physical therapy clinics in your city, your website could appear right at the top of Google. Considering that the top result gets nearly 28% of clicks, this could be a great way to gain more customers.
SEO takes a lot of time, and most clinicians can’t afford to invest that time. So, many work with marketing agencies that specialize in driving traffic through search engines. Whether you learn how to do it yourself or you work with an agency, investing in SEO could be beneficial for your physical therapy business.
3. Joining a physical therapy group
There are a handful of private equity groups around the country building large networks of physical therapy clinics. Joining one of these groups could give you access to a ton of resources that can help you grow your business. For instance, at Alliance, our partners get access to both virtual PT capabilities and professional SEO. Plus, they get to tap into our massive network of industry experts who provide everything from legal help to financial consulting to professional development assistance.
Making the investment to get access to all the resources you get when you partner with a physical therapy group can give your physical therapy business a significant boost.
Interested in learning about Alliance?
Alliance PTP offers all the resources you need to grow your business. Our team can take the tough administrative work off your shoulders so you can focus on providing PT (or even taking a vacation for once).
Contact our team today for more information about how we can help your practice or to find out how you can join our partnership in care.