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Speaker has no relationship with any suppliers other than...
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HowEveryoneWinsWhenCustomersCanBuyEquipmentFromthePrivatePractice;AGreatWayto
ImprovetheBottomLine!
Keith Glasser MSPT, Cert MDT, CEOOptimal Results Physical TherapyPortland, Oregon
Speakerhasnorelationshipwithanysuppliersotherthanbeingacustomer.
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ContextofPresentation• Optimal Results Physical Therapy
• Located in downtown Portland, Oregon
• Key Philosophical components• Collaboration
• Self Referral
• Infinity
• Less is better; the less visits per patient the better• Customer/Client/Patient Satisfaction
• A few statistics on the practice. • Customer Satisfaction‐
• Average number of visits per customer‐
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PaymentforProducts• In Oregon some products are paid for by select insurers.
• Worker’s Compensation
• Motor Vehicle Accident
• The vast majority of products are paid for by customers/clients/patients.
• These individuals are motivated to get better.
• Usually are more than willing to buy a few inexpensive products.
• What is the key term for customers to buy products?
• The Big “M”
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InteractivePresentation• We want to learn from each other
• COLLABORATION
• Please comment and ask questions as I go along.
• Key takeaways are:
• What products would fit your practice?
• How much could/would you invest in inventory?
• Is there adequate storage to stock products?
• Are there reasons not to rent and sell products?
Who knows what the big “M” is? Who does this relate to?
WhySellProducts?
Why not? How can we not?!
• Value added
• Additional Profit• Profit sharing option for PT
• COMPETITION• Amazon, Sporting Good Stores, Target, etc.
Are we competitive with other suppliers?
Is Inventory necessary?
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RentingProductswiththeRent‐to‐OwnOption
• Equipment Rental Form • What can you rent?
• What will make it easier for the customer to get better faster while having fun doing it?
• What products do we rent?• Body Blades
• 2 different models• CxT• Classic
• Sport grips • UE Ranger
• Not currently rented at this clinic, but could be a viable option.
• Game Ready, etc. • Another option?
Does your practice know of other products that would be beneficial to patients that could work?
Optimal Results Equipment Rental Form
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BodyBladesWho wants to help out?
• Why would this be a great product for a number of diagnoses?
• Optimal Results Body Blade Rentals• $20 rental fee • Completion of Rental Form
• Rental Form is attached. Feel free to use or adjust accordingly.
• Number of Body Blades purchased in the past year:• Cases of CxT’s • Cases of Classics
• Now that we know how to offer a product for rent, what would we have to invest to bring them into a practice? • Each case includes 12 body blades
• Cost of a case of 12 CxT• Cost of a case of 12 Classics
SellingProducts• Does your staff have the ability to offer products of sale?
• Does your staff believe this would be beneficial for customers to buy products from the practice?
• Do you want to offer incentives to promote products?• Per item
• Per year
• Use a % of the profit for a party or year end bonus?
• Product sales are totaled each month• A certain amount per item sold is paid to the PT’s.
• For equipment rentals there is no payment to the PT’s.
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ProductsWeSellExercise Balls
Lumbar Rolls
Cervical Rolls
Rubber cables for UE
Rubber cables for LE
MassageandSoftTissueProducts
• Massage sticks
• Sprint Stick
• Power Stick
• Trigger Wheel
• Foot Wheel
• Foam Rollers
• One model only
• Peanut massagers
• Lacrosse Balls
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FootProducts
• Correct Toes
• Toe socks
• Metatarsal Pads
• Special Category
• Lems Shoes
• Potential future products
• A hiking or running sandal
EquipmentSoldatOptimalResultsEquipment Price ($)
Massage Tool ‐ Accupoint 15
Foam Roller 40
Ball Pump 5
Body Blade Classic 99
Body Blade CxT 70
Arm Cable 10
Cold Packs 35‐64
Compression Sleeve 60
Correct Toes 65
Cervical and Lumbar Rolls 20
Door Band 20
Exercise Balls (All sizes) 20
Foot Roller 18
Ininji Socks 12
Equipment Price ($)
Theraband 5
Massage Roller 16
Kinesio Tape 12
Lacrosse Ball 5
Leg Cable 10
Lems Shoes 95
Jump Ropes (All Lengths) 12
Shoulder Pulley 10
Massage Tool – Powerstick 45
Superband 20
Skillz Ladder 30
Sport Grip 20
Massage Tool – Triggerwheel 20
Yoga/Pilates Mat 22
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AdditionalProductsSold
Product Price ($)
Aloe Vera Capsules 18‐30
Badger Balms 3‐14
Cacao Powder Raw 16
Cashews Raw 7
Chaya Tea 8
Chia Seeds 10
Palm Sugar 10
Sun Warrior Protein 2‐30
Trail Mix 6
Suppliers• It is all about QUALITY relationships.
• It is all about QUALITY products.
• It is all about the PT Practice being a QUALITY Provider
LIFETIME CUSTOMER MEANS………..
• When product order is received, all bills will be paid immediately or within 2 weeks.
• Quick pay and regular orders mean you are a valuable customer.
• Order by the case or in quantities that make it easy for all involved.
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CustomerResponsibility(ThePTPracticeistheCustomer)
• Relevant background of my life before becoming a Physical Therapist
• Business experience in:• Manufacturing• Manufacturer’s Representative• Unique relationships• What’s In It For Me (WIIFM)
• You always need to know this.
• Challenges • There are always some. • Relationships are important
• Suppliers need to know you. • Visit at shows. • Discuss ideas. • Ask them how you can be important
to them.
• Sales People • If they are good, they can be a huge
asset for this part of the practice.
• Relevant Stories• Textile Business• Bakery Business• Wisconsin Cable Supplier
• The mind set of all suppliers • Work with ethical and easy
customers • The PT practice is the customer.
PaymentforGoods• When product order is received, all bills will be paid immediately or within 2 weeks. • Or pay by credit card when you order• Quick pay and regular orders mean you are a valuable customer.
• Spend time discussing options with the suppliers.• Let them know that you value and appreciate them.
• Discuss the best way to order for the best price. • Let the supplier know you want to make it easy for them. • Remember to be consistent by placing orders by the case whenever possible.
• Develop an efficient inventory system. • The attached inventory list allows for an inventory to be completed in 30 minutes or less.
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Example of Optimal Results Inventory List
TypesofSuppliers
• Why could this be relevant?
• How could this be relevant?
• How can you determine what type of supplier they are?
• Could they be a combination?
• Manufacturers and Importers
• Wholesalers
• Wholesalers’ Direct Sales People• Wholesalers Representatives
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HowtoBuyAttheBestPrice• All UE and LE rubber cables come in multiples of 20 cables per case
• Sale price is $10 per cable
• Patients are able to exchange cables for higher or lower resistance levels
• Exercise balls in cases of 10 per size• Sale price is $20 for each size• Sizes:
• 45 cm• 55 cm• 65 cm• 75 cm
• Body Blades are in cases of a dozen• Rental is $20 • CXT is $70 for purchase• Classic is $99 for purchase
MassageSticksStoryaboutlowqualityvs.highquality
• Massage sticks from our supplier are a customizable set of 12 sticks • Prices range from $20 to $45• Branded sticks are also available
• Through this supplier, buying in bulk saves the clinic another 25%.
• Massage sticks can be ordered in 2 lengths
• Trigger wheels
• Foot wheels
Custom Products• Lumbar Rolls
• 50 rolls per case: • Lead time 4‐6 weeks• Sales price $20
• Cervical Rolls• 50 rolls per case: • Lead time 4‐6 weeks• Sales price $20
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ReturnonInvestment• Determine what ROI is desired
• Determine the initial investment per line of product • See Optimal Investment on following page
• Determine what products customers would purchase
• Determine the skill set of the Staff• Determine what training would be required
• My experience is to review with each staff member how they could offer the products for each type of patient; which type of exercises the products would optimize efficacy.
OPTIMIZE EFFICACYOPITMIZE EFFICACYOPTIMIZE EFFICACY
BeliefinProductsValuesandBenefitsTheyGivetotheCustomer
If you expect customers to buy something from you ……….
• The PT needs to believe in the value unequivocally!
• The customer needs to know how to use the products and understand the value
• Education and collaboration between Clinic, PT and Customer.
• Learn how to offer WITHOUT ANY PRESSURE
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HowtoPresentOtherProductstoCustomers
• Rubber Cables
• Leg Cables
• Exercise Balls
• Customers love buying balls from us
• Massage sticks
QuestionsorConcerns?
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Takethenext7minutestocomeupwithasupplyplan.
Choose 3 products
Cost per SKU
Sales price per SKU
Determine if Rental or Sales
Plan to train to staff
Thenwearegoingtochoose2‐3practicestopresenttheirplanina3minutepresentation.
Discussion• Does this plan fit your practice?
• Can you offer products that customers will purchase?
• What if you lose $1,000?
• What is the cost of the optimal inventory at any given time?
• Would such an investment be worth it?
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TheFutureofPHYSICALTHERAPYPRIVATEPRACTICES• WILL WE GROW AS A GROUP?
• WILL WE HAVE THE PROPER LEADERSHIP?
• WILL OUR PT SCHOOLS TEACH OR EXPOSE NEW GRADS TO THE OPPORTUNITIES FOR PRIVATE PRACTICE?
• WILL WE ALLOW MEDICAL PRACTICES TO BE CORPORATE CONTROLLED?
• WILL WE PROMOTE COMPETITION?
• THE “BIG KAHUNA”:
SELF REFERRALSELF REFERRALSELF REFERRAL
ThankYou!Keith Glasser MSPT, Cert MDT, CEO
Optimal Results Physical Therapy
511 SW 10th Ave, Suite 101
Portland, Oregon 97205
503‐294‐7463