As I reflect back on an amazing APTA Private Practice (PPS) 2024 event, I cannot be more excited about what the future holds. A few key takeaways:
There are so many people doing so many amazing things in the physical therapy industry.
No doubt, there are plenty of challenges facing the industry, with reimbursement pressure increasing and the cost of doing business rising. However, PPS every year reminds me how many truly impressive business owners and executives there are in our space, that can create special businesses focused on providing excellent care while also running highly profitable, rapidly growing businesses. From leveraging technology to creating awesome company cultures that help combat clinical burnout, the examples are countless.
It was awesome to host a roundtable and learn about what Amanda Brewer has done at Brewer Physical Therapy, what Dr. Josh Funk is accomplishing with Rehab 2 Perform and what Dave Manzo and the team at Atlantic Physical Therapy are all doing to increase the profitability and sustainability of their businesses. There are so many more examples of incredible businesses being built in the PT space, overcoming the challenges to build fun, exciting, impactful businesses.
We have an amazing team.
While we are largely a remote company, events like PPS are truly special, getting to see how our group of awesome teammates steps up, works long hours, and goes above and beyond to make a huge impact over the three day span for our customers, partners and other owners that aren’t using Prompt yet. It truly takes a village to put on a great conference and so many of our awesome team members stepped up to help make it happen.
Leveraging technology is key.
Sure, I am biased as a co-founder at Prompt, but one common theme throughout the week was learning how so many different practices leveraged a variety of different technologies to make things more efficient and easier for their staff. Whether it is Prompt’s own software, or hearing about clinics using a variety of innovative technologies such as PredictionHealth, Weave, PT Wired, Inc., Second Door Health or OnusOne to name a few, the common theme from the owners and businesses that were growing the fastest was that they invest in technology to make their team happier and more efficient.
With labor expenses being 50-70% of a physical therapy businesses P&L, it makes sense to invest in technology that can make them more efficient, especially in technology that can drive superior patient engagement and outcomes or drive automation for the practice.
The future of the industry is bright.
Again, there are countless challenges but the thing I took away most from this past week was that despite all these challenges, the future has never been brighter for the industry. There are so many brilliant minds working to drive the industry forward, the demand for physical therapy has never been higher, and the trends in the industry are starting to turn. To name a few folks helping to move the needle, I’ll start with Justin Moore, PT, DPT and the awesome team at the American Physical Therapy Association (APTA), both for putting on an amazing event but also for constantly advocating for the industry. In addition, I’d be remiss not to mention Nick Patel and the work that the Alliance for Physical Therapy Quality and Innovation is doing to help assist with advocacy and lobbying.
With so many brilliant minds working together, I truly believe the tides are turning and that the future is extremely bright for our industry. Looking forward to the year ahead and already excited for next year’s conference!