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In this episode, Founder and CEO of Rehab 2 Perform, Dr. Josh Funk, talks about his experience with the business side of physical therapy.
Today, Josh talks about how he created his business culture for employees and patients, his community outreach, and how he assembles his teams. How has Josh grown his business so quickly?
Hear about the importance of a balanced dashboard and being mindful, and get Josh’s advice to his younger self, all on today’s episode of The Healthy, Wealthy & Smart Podcast.
Key Takeaways
- “If I think of somebody who has more autonomy, I think of somebody who’s automatically going to be more engaged.”
- “The first thing that you need to start with is admitting that you don’t have all the answers.”
- “We move fast, we break sh*t, we fix it, we move on.”
- “A lot of it [growth] starts with continual self-analysis.”
- “Me working in my business was the single biggest blockade for us moving forward.”
- “We’ve put equal investment on people, we’ve put equal investment into our local communities, and we’ve put equal investment into the company as a whole, and as long as we continue to feed those three different areas, and maintain lines of communication, I think we’re going to continue to be successful.”
- “A conscious capitalist is somebody that’s mindful of all stakeholders.”
- “I view the 35-50 year old female in the community as being probably the single most influential person in your local community.”
- “When I think of marketing, I always think of market relationships.”
- “When you start your company based on core values, you have people that are culture champions.”
- “Your balanced dashboard is most likely going to lead you to better decision-making and getting a better gage for what is actually going on behind-the-scenes in your business.”
- “Much of healthcare practices from a business standpoint are extremely dated, and you are better off spending time studying businesses in other industries for inspiration.”
- “Continue being open for inspiration in a wide variety of places. You’d be surprised, if you had an open mind, what you might be able to see in something that, maybe at one point in your life, you completely ignored.”
More about Josh Funk
Dr. Josh Funk was born and raised in Montgomery County, MD and attended Poolesville High School. Josh went on to play Division 1 lacrosse and earn a B.S. degree from The Ohio State University before earning his Doctor of Physical Therapy (DPT) degree from the University of Maryland-Baltimore. It was a little over 3 years after graduating from Maryland, that Rehab 2 Perform was founded in late 2014.
In addition to his physical therapy expertise, Dr. Funk has been equally, if not more committed to the growth of his role as CEO of Rehab 2 Perform. He has made sure that his personal development is not just reserved for the clinical side of things, but also to ensuring that Rehab 2 Perform is one of the most well-run and well-known health care companies in the area. Dr. Funk has immersed himself in business programs and community initiatives over the past few years in his efforts to ensure that the team and clients of Rehab 2 Perform are receiving everything they need to be at their best. It is his goal to push Rehab 2 Perform to the forefront of the community through innovation, progressive business operations, strategic growth and clinical excellence.
A lifelong athlete, Josh became interested in becoming a physical therapist when going through PT as a D1 lacrosse player at Ohio State. After avoiding shoulder surgery for a torn labrum and rotator cuff, Josh has been entrenched in the world of physical therapy and sports performance. Over the years, he has continually developed his knowledge base and expertise as a physical therapist through continuing education courses and working with athletes of all ages. A Montgomery County resident, Josh is heavily involved in all areas of the community throughout the region.
Suggested Keywords
Rehab, Physical Therapy, Physiotherapy, Autonomy, Community, Business, Metrics, Performance, Processes, Teams, Decision-Making, Healthy, Wealthy, Smart,
Round Table Talks: Round Table Talks
To learn more, follow Josh at:
Website: https://rehab2perform.com
Email: drfunk@rehab2perform.com
Facebook: Dr Josh Funk
Instagram: @drjoshfunk
Twitter: @drjoshfunk
LinkedIn: https://www.linkedin.com/in/joshfunk
YouTube: Rehab 2 Perform
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Read the Transcript Here:
00:02
Hey, Josh, welcome to the podcast. I’m so excited to have you on today. Karen, thanks for having me. I’m just a big fan of everything you have going on and just everything you’re doing for people in the profession.
00:13
Ah, thanks. That’s nice to hear. And today, well, actually, this whole month, we are talking about the business side of physical therapy. And so I wanted to have you on because from what I can tell, not that I’m knee deep into your business, but from what I can tell on social media and your website is man, you are really growing, you have a budding business, it’s an interesting business, it looks like your customer service is top notch. And people genuinely like your business. And they like you. So let’s talk about the growth of your business and how you’re able to do this in I would say a relatively short amount of time. So I’ll just throw it over to you to just talk about your your business, why do you talk about your business first, so the listeners know who you are, what you do where you are, and then we’ll get into how you’ve grown so quickly. Absolutely. So
01:09
for the listeners out there, I am the owner of rehab to perform. It’s a fitness focused physical therapy company, offering, obviously physical therapy, sports rehabilitation services, concussion rehab. And then we have a couple different wellness offerings, including a golf program, golf fitness program, and our two p plus, which is kind of a discharge program, that people utilize an app receive home workouts and are able to communicate with their PT after more formalized discharge. But you know, you alluded a little bit to the growth that we’ve had, over the years been very fortunate past couple of years, including even during a challenging year, last year, just to continue to be able to move forward, I would if I had to break up, the time that the business has been in existence, I would say you have the first three years, and then you have the last kind of three and a half, almost four years, first three years, really just trying to figure things out, put the pieces together, do everything you can honestly to get out of debt have that minimum viable product. And when I was thinking about that minimum viable product, viable product, a lot of it surrounded creating an environment where PT was not a grudge purchase. So how do you create healthcare and physical therapy that is not a grudge purchase, it’s something that has very, very minimal friction, people easily interact with it from a from a, you know, front desk customer service standpoint. And then when they actually experienced the clinical side, it is something that speaks to them, it is something that is enjoyable. And that goes for everything from just the processes and the kind of people that you have, as well as the deliverables. So, you know, these past three and a half years, we’ve been fortunate to, you know, heading honestly into opening our sixth location this fall. And we’re very, very close to opening our seventh location. In early q1, we are based out of the DMV, and for anybody’s unfamiliar with that, that is DC, Maryland and Virginia.
03:16
Awesome. I mean, it’s just, it’s pretty amazing. And you you hit on something that I want to talk about really quick before we go into the how you grew. But that’s creating a culture that’s not a grudge purchase. So let’s talk about how you created your business culture, because I think this is something that is often overlooked, especially in in a lot of businesses. But how did you create that culture for your employees and for your patients?
03:52
I think if I start with the employees, I think a big part of what at least has influenced me was being in situations in which I perceived there to be too much rigidity, in terms of the how, and there was not enough autonomy given to people to just execute. Everybody executes things slightly different. And much like I would say, a good clinical framework. But if you have a very, very good cultural framework for your company, people kind of bounce back and forth between the guardrails so to speak, but you don’t have this rigid playbook. Were rigid rules that are in place. There’s a little bit of flexibility, adaptability, and at the end of the day, it is a shared way of doing things. It’s a collective and it is not a top down style of leadership. It is more of this, what I’ll call like circular leadership. So people are more familiar with, you know, an organizational chart. That’s more formal, obviously, if somebody’s at the top and it kind of trickles down and always whether or not it was you know, Anything from a student internship program to a specific program that I mentioned earlier, or somebody who’s taking a role just on a project, or somebody who’s in charge of a specific location, there is a certain a certain amount of autonomy that they are able to have. And I think that that ownership that is created really allows people to, I think, engage more when I think of somebody who has more autonomy, I think of somebody who’s automatically going to be more engaged. And then if I think that I take it to the consumer, the customer, and I always like to call them clients, because at the end of the day, especially in a place like Maryland, you know, they have a choice. Direct Access is something that we have almost, you know, a, I would say, the most liberal version of it. In the United States, we have more than probably 75% to 80%, I can say definitively on a regular basis of people who come to us without having a physician tell them to come to us. So that being said, the only way that that happened was creating an environment that was enjoyable, I wanted to create chairs, a barber shop in your local bar, and deliver PT, so the more that you can make it, something that resonated with them. And for me, I always thought of a gym environment, it was very, very enjoyable, people liked being at the gym, you rarely wanted to, you know, potentially leave as well. So when you walk in, you know, it’s it’s open, it’s friendly, there’s quotes, there’s gym equipment, there’s a certain way of greeting people, people are going to greet you that aren’t even necessarily your PT, the manner in which you’re communicated to is going to be, you know, there’s there’s a certain amount of intent and thoughtfulness behind it. What you’re going to be provided during that session is going to be something that ideally you leave with, and you go, this is personalized, individualized, and it resonated with me. So I was thought about trying to create an environment where somebody went, Oh, man, I got something small going on, I’m just going to go right into rehab to perform because I love going there, I get to go there, instead of I have to go there and that small change. And we can go down to all of the many pitfalls of your local pops, physician place that’s sterile, right? It’s boring, you have something that looks cookie cutter, you are doing the same thing, almost every single session, there’s a lack of connectivity, right? There’s not even music at some of the places in there. Everybody’s wearing the same exact thing every single day, right. And we can go down that rabbit hole that people went down recently on Twitter surrounding professionalism. But I think overall just you create an environment that if I take it back to the top, you create an environment that has been shaped by so many people that have been a part of our company, too. I might be the CEO at this point. But I’m just a really good listener, just listen to people. And we make changes based on what the group wants. I’m not sitting here. And just telling everybody that I have all the answers, there was no different than advice that I gave to a young clinician the other day where he was like, Where’s the first place I need to start, I was like, the first thing that you need to start with is admitting that you don’t have all the answers. And the sooner you get somebody that’s a cultural fit that comes in your place. And they show you a new way of doing things, the better off you’ll be. But too often I think people get in a situation where they can’t let go. And they can’t allow other people or they think they found the special sauce. And I sit here today with a team of about 35 people. And I will tell you that I will listen to the new new front desk person that we just hired because she has new perspective and a new way of viewing things. And she can add value. And we never get to a point where ideally we’re that we’re that fixed project, fixed product. And then it has been that collaboration over the years that led us to both have an environment that people enjoy working in an environment that people enjoy interacting with the professional physical therapy.
09:08
Excellent. And this is gonna sound really familiar to you. But it sounds to me like your operations and processes. So if I say that to Josh, Josh and I both took while I’m still in it, he has taken the Goldman Sachs 10,000 Small Business program, we were talking about operations and processes, which is one of the modules before we came on. And the thing that resonated with me with what you just said is you you give people the process or the sub process, let’s say and the details are up to them. So you’re giving them autonomy. And to me that leads to innovation, it leads to better care leads to better efficiency, because you’re allowing people to make the process there. own while still getting the work done, right?
10:04
Yes. And I would say that that makes me think of the number one question that we ask when something gets done wrong is not a people person, it is a proper process problem first and foremost. And we go to that person and say, hey, how can we make sure that this does not get done wrong? Again, okay, we did not provide you with enough support, we did not provide you enough clarity, we did not provide you enough, whatever. But I am asking that person who may have automatically get on the defensive because they got something wrong, quote, unquote. And instead, they’re becoming a part of making sure that process is easier, it takes less steps, there’s more clarity, whatever. And then there’s ownership. And then they automatically feel like oh, my God, okay, now, instead of me getting yelled at, I’m in an environment where when screw ups happen, we just, we just work on it make it better, like, then they show up to work every day, you never really worried about screwing up. Because what do I tell people all the time, we move fast, we break shit, we fix it, we move on, okay. And at the end of the day, we are we’re trying to move relatively quickly. We’re trying to be agile, we’re trying to make sure that we’re doing everything we can to kind of get out in front of, you know, really the, you know, the profession in healthcare as a whole and ideally, continue to show other people that, you know, there’s a different way of doing things, a different way of doing things.
11:30
Yeah, I love it. And, and that is something that I didn’t really think of before until literally today. Just before we went on the air is all these like operations and processes, which I always thought were so rigid, right. But if you give people the autonomy and innovation, I can only imagine that helps you grow faster and smarter. So let’s talk about your growth. How did this happen? I think we can confidently say operations and processes are a big part, what else helped you to grow your practice, because I think there are some listeners out there who might be at the stage, like I’m going to grow my practice, but I have no idea what I’m doing.
12:16
I think, you know, a lot of it starts with just continual self analysis. And I think that I finally got to a point where I recognized that me working in my business was the single biggest blockade to us moving forward. And I think part of that also was me recognizing that I, I have a little bit of a unique skill set. And that’s not to say that my skill set is more important. But then from a collective standpoint, my brain works a lot more in branding, sales, and marketing. And I needed to be spending more time in that area. So let’s say about three years ago, I finally stepped back. And I put myself in a position where I was spending more time than ever, on the ins and outs of the brand of our company, the brand of the profession within our company, our sales and marketing strategies, and then to be quite honest, doing a better job of making sure that we had more of a predictable rollout when opening up a new office. So at this point, you know, we have, I hate to go back to processes again, but we have a very clearly defined rollout. And it starts about six months out. And every 30 days, you’re doing X, Y and Z. And there are you know, at this point it I hate to say it, but you’re almost following a playbook. And much like I referenced earlier, it’s not necessarily rigid. But we know that at least if we’re doing these things here, and at least 90% of that we’re going to put ourselves in a good place to be successful. But I think you know, the biggest thing was recognizing that I had what it took. And it was after the Goldman Sachs 10,000 small businesses program to actually operate a business because before that program, I was solely a PT, who had hired myself to deliver good PT, I wasn’t necessarily doing everything that I needed to to support the team. And to put us in a position where growth was naturally happening. Now if I get back to why we’re growing now, I think we’ve put equal investment on people, we put equal investment into our local communities, and we put equal investment into the company as a whole. And as long as we continue to feed those three different areas, maintain lines of communication. I think we’re going to continue to be successful when we go in and we just opened up a new location last Monday. And I think we’re going to just put ourselves in a good spot and that kind of goes to just some found Thanks for me, I know that a lot of people hear the word capitalism. And I think they there’s enough stories out there and examples of, of what I would consider more of the poor version of capitalism, that crony capitalism, one that maybe is a little bit more focused on, you know, your, your, your money, right, you’re just focused on bottom line. And that’s pretty much it. But I think of a cop of capitalism, I always want to think about being a conscious capitalist. And a conscious capitalist is somebody that is mindful of all stakeholders, all stakeholders, being the people on your team, they all matter, the small people, the big people, whatever you want to, you know, do people that people have been with you forever, that people that are new, right, you have to make sure that you’re placing value in those people. And then for us, we have five different community hubs, so to speak, that we have initiatives under just to make sure that we’re making connections, we’re involved or engaged, we have a pulse on the community. And then we’re finding ways to meet people where they’re at outside of our four walls, ideally, deliver value even without asking for anything in return. So that that conscious capitalism piece, that’s one of my favorite books, I think that’s always been something that’s kind of been near and dear to my heart. And in putting something out there from a business product standpoint that people could look at and say, you know, what, that’s a that’s a big, it’s a business of the future, just in terms of how it’s run.
16:18
So let’s talk about that foray into the community. Because that is important. So if you are setting up shop in a community, what advice do you have for budding entrepreneurs and therapists who maybe have been in practice for 10 or 15 years, but maybe they sort of stalled? You know, because that can happen? Right? So what are some examples of your community outreach or outreach? Excuse me, or how you insert rehab to perform in the community?
16:52
Yeah, I mean, I think a big part of it centers around our avatars and our avatars being like our ideal consumer, right? Who is your target audience who interacts with your business the most at the location in which you have right now or locations, and you build out the community touchpoints that that person has. So I’ll be quite candid, I don’t think anybody will be surprised. But I view the 35 to 50 year old female in the community as probably being the single most influential person in your local community, probably you can stretch at 35 to 55. She is in a family where she is literally dictating the decisions for the head of household, the kids, the grandparents, the in laws, etc, there is nobody who is more influential in terms of what people are doing in the family, and where they’re going. So if you just appreciate that as a whole, then you start to look at a little bit more of trends. And some of the metrics surrounding where that type of demographic is interacting. And for us, we also build this into our five hubs. So, you know, from a medical standpoint, fitness standpoint, business, youth, sports, and schools, what is that particular target demographic doing? Where are they interacting? Where are they going, and then you start to have a little bit better idea of where you potentially need to develop your connectivity, but initiatives under those five umbrellas after first and foremost, creating that lead avatar is something I recommend to everybody. We do have other avatars, I would say for us, it’s a competitive athlete, college athlete, high school athlete, you know, your your clubs, use sport athlete. So, you know, who are the influencers in that community, who are the influencers, providing guidance to that individual is everything from skills coaches, to strengthen conditioning coaches, to the actual sport coach, to the club director to the athletic director, and you start to build out these chains of almost influence that that these people are connected to, and you have a better idea of who you need to have that market relationship with. And when I think of marketing, I was thinking of market relationships, right? It’s not necessarily creating a piece of content to put in front of somebody, it’s not necessarily you know, sending somebody something and give him a hard sell. Sometimes it’s just the Hey, I saw your work I’m connected with so and so they just came into the office, you know, I keep hearing more and more and I’m at least curious at this point. Can we go grab coffee or if we got on a phone call? I’d love to learn more. And the more that you’re genuinely curious about people, and you’re invested in learning about them, and and actually taking the time to show that you’re, you’re genuinely interested in in that particular relationship. I think the easier that these relationships come about their authentic people can feel them and it becomes a lot easier for you to get into what the most important is part is who you are, what you do, and, and how you solve people’s problems. So once you have those three things communicated, and I should say, once you have that authentic relationship, it’s much easier to clearly communicate that those three things you bring to the table once again, name, what it is that you do, and how you solve people’s problems. So that’s kind of a little bit of the behind the scenes just in terms of, you know, my thought process. When we go to new location, you know, we have our initiatives, you have a pretty good idea of what works, obviously, there’s some uniqueness to each area. But we’re starting to develop those relationships, probably a relatively early time period. I mentioned before, we have a six month clock that we function off of. And really, you’re just trying to find a way to almost solve their problems before they even necessarily need to send somebody into your office.
20:55
Yeah, amazing. I love everything about what you just said. And I really hope it gives people listening who are maybe thinking of starting their own practice or expanding like this is work. Yes, right. It’s not like I’m gonna open up a practice, just because I feel like it is like you have to do this is done before you open your doors, you need to know who your avatars are your ideal clients, your ideal customers, whatever you want to call them, and you have to build them out. And there’s more than one. And for every single one of those, there is a separate marketing plan. There is a separate communication plan for each and every one of those avatars, you do not use the same marketing plan for Well, the 35 to 50 year old woman who Yes, the women are the users and the decision makers. We all know that they run the show. There’s no secret anybody out there says no, you’re sorry, sorry, wrong. But you know, you’re going to market and communicate with them differently than maybe the local college athlete.
22:06
Yes, right. 100%. They have different needs, different interests, different places that they’re frequently interacting in the community. 100%
22:15
I love I love everything you just said. I think that is just a wealth of advice for anyone listening to this podcast, who I can’t wait to we do our roundtable next week. Awesome. Or I shouldn’t say next week. We’re recording this a little earlier. Tomorrow, tomorrow. All right. So now everybody, the jig is up. It’s not live. But yeah, no, I love that. All right. And then last thing about growth and movement within a business is really assembling a good team. Yes. So talk to me about how you assemble your team or teams within your business.
22:56
Here’s the part that I’ll be at least honest about the early part of the business and say some of it was just damn good luck. The first person that I had a part of my team probably could not have been more of a culture fit than if maybe he was a part of my own family. So we went to PT school together. We didn’t grow up very far at all. From a high school standpoint. family values were all very, very similar. We had very similar outlooks on the world similar ideas when it comes to came to leadership. And when you asked us in general, what your principles and values were, that governs your life, they were very, very similar. So I was fortunate to actually and I’ll probably get a couple chuckles here, I convinced him to quit his job. Right after his wife had delivered their first child, I think that their first child was four at the time. And I gave him three months of paper checks. And I said, hey, there’s enough money here for you to quit your job and give it a go. But nonetheless, he helped me kind of shaped the culture of the company. Our next hire was a female was more compliance oriented, somebody that we definitely, definitely needed. And then the fourth person, some people might be familiar with Dr. Jared Boyd. He’s now an NBA PT for the Memphis Grizzlies. And his commitment to I’d say, research, and the clinical side of things was kind of what Zack and I needed. And what we needed was contrast. So we overlapped on a lot. And we were able to find contrast in terms of areas in which we didn’t have a natural affinity to we’re really have that much interest in diving into and then moving forward. We hired people predominantly off of, once again, a collective decision making process. It was, Hey, is everybody comfortable with hiring this person? There was no one person in charge of the hiring process. And a lot of what we did was make sure that there are multiple touch points for that person to interact with our business. So whether it was an early exploratory phone interview, that then would follow into a formal phone interview, obviously, that things like a background check references, etc. And then you would actually have them come into the office and spend some time Hey, Shadow, people spend time with the front desk. And you start to get multiple touch points where every single person at the office had at least interacted with them enough to go Yes, or we’ve had more than our fair share of knows where somebody’s got a wrong vibe, or something was said or something was picked up on. But making sure that you know, hires especially at this stage of the game, where we do have five locations, me hiring for a location, and me being the sole decision maker is silly, I do not work at an office with these, right, these people for 30 to 40 hours, I’m spending a much smaller block of time. So at the end of the day, the people that need to have the most influence are the people that actually are the leaders at that office that are at that office every single day that to be quite honest, probably have more control over what’s going on in the culture and in the environment at that particular office than I do. So I once again, I think it goes a little bit more to like your decentralized leadership style. And your you have more of this flattened approach to leadership where a lot of people are involved. But if we talk about just central pieces to team, what are your values? What are your principles, those have to be the early conversational points, that that drive the conversation about whether or not this person is a fit, we have our core values literally on the wall, every single office is transparent, so much even that the clients can see them. You know, so when when you start your company based on core values and principles, everything from I mean, a couple like just basic things, obviously, you know, education, empowerment community, for us to be talking about principles on offense at all times, right? solutions instead of problems. Or we say thumb first, instead of pointing a finger, right? What can you do to potentially change something than then pointing a finger in another direction. So I think when the foundation of the company is just so grounded in in those core principles and values, you have people that are culture champions, and at the end of the day, people understand that, that the sole reason why we’ve been able to do that we’ve been what we’ve been able to do is attracting people for the right reasons. It’s not people that necessarily are championing solely their GPA or their clinical knowledge and expertise and kind of beating their chests about how smart they are. It’s first and foremost, foremost, like, how does this person align with us on a foundational level, we know that at the end of the day, that person will become the best version of themselves within the company, because they value with the rest of the collective value. So I know when a bunch of different directions there, but I think, yeah, I mean, we’ve been very just purposeful. And there’s been a lot of evolution, I’d say there over the years and knock on wood. And I never like to honestly say this without just just being aware that it’s not just me, it’s our whole team. But we have only had three pts in almost seven years decide to leave the company, one was for the MBA, one was for home health, because she wanted to spend more time with their kids and another one would took a military job. So we’ve not had a single person yet that’s had a parallel move to somewhere else in the local community. They’ve either completely moved in are on a base somewhere or in a professional sports organization, or in home health, spending more time, you know, raising their family things that we can’t compete with as a company.
28:55
Right, amazing. And, and I really like that your approach to hiring, I guess it’s the hiring funnel. You know, we talk about sales funnels and marketing funnels, you have a hiring funnel, where it starts with some exploratory calls to more formal, and then you keep going down. So you may have 100 exploratory calls. But as you funnel down into how many ideal candidates are for the job, maybe it’s two. Yep. Right. 100%. So I think it’s a nice visual for people to see that.
29:27
I am involved in exploratory. And that’s literally about it. At this point, I will get resumes and stuff will catch my eye or somebody will connect with me on social media. And there’ll be something that I’m at least like, hey, let’s explore this. And I’m often handling an exploratory call on looping in people, most likely the site directors at potential offices that could hire this person. And then they actually start to incorporate the other members of their team for calls as well. So it really becomes a point where this person goes, Oh my gosh, I could be a part of this team. I bet make an impression, or different times or five different times because all of these people are important. And if any one single person says no, then we move in a different direction. And that has happened before.
30:10
Hmm. Amazing. I love it. Okay, so we touched upon your company culture, we touched upon your avatars, your team, how you’ve been growing? I mean, we can go on and on and on? Or is there any other major point that you wanted to hit about the growth of your company that we didn’t touch upon that you’re like, Man, this is super important. I really want people to know this. I think a balanced
30:39
dashboard is very, very important. And I think that in a world where people do focus a lot on productivity and utilization, right units, or how many slots you have filled, and I’m not here to say that that’s not important, because at the end of the day, you need to have a business that is delivering a service for a certain amount of time, and having an individual which you’re providing a salary benefits, etc, PTO, whatever, some some benefit, that certain things are also, you know, reciprocated. So it’s not to d value those but to paint a better picture of business health and metrics that would support at least for us, when I think of smart growth, it’s like, Alright, how do I know that we’re just not adding locations, and the quality is rapidly diminishing? Okay, that stuff over there good. We get people in the doors, okay, yes, in terms of just keeping the lights on, we need to be able to have a certain amount of billable units. And if we hire somebody, they need to have a certain amount of slots allocated. Beyond that, what else is meaningful for us to continually be looking at. So net promoter score and churn rate are two big metrics that I’d say we’ve looked at more and more, especially over the past two years, for people are unfamiliar with Net Promoter Score, it’s considered a gold standard with regards to brand loyalty, and the creating the kind of word of mouth referral generating, I think all of us are looking for. So I say this, once again, just to provide perspective, but we add locations, we have to make sure that the company stays above 90, which is considered world class. And when we don’t, or something pops up, or somebody is saved below 90 for a given quarter. You know, there’s certain just conversations that are had, in addition to the fact that when we have a seven or eight, or a six or below, there are certain things that are happening internally to make sure that we’re being mindful that somebody is either potentially a little bit passive on what we have to offer. And they’ve communicated that or they potentially might be somebody who’s going to drop off. And then when you think about churn rate, just think about somebody interacting with your business and having a negative experience and not even really giving it a chance for you to work with them. To get towards ideal outcomes. At the end of the day, we’re trying to drive outcomes. So when you get somebody in, and you’ve put time and energy behind communicating what it is, who you are, what you do, and how you solve their problems, and they get so turned off after a visit two visits or three visits, that they’ve gone somewhere else, or they just altogether potentially left the profession. That’s not necessarily a positive thing. There is metrics out there to support that, say, if they get to four visits, they are X amount more likely to actually go through a plan of care and be able to see some of those ideal outcomes that I think all business owners would think that their business can, can provide. And then, you know, outside of that, I mean, obviously online reputation, being mindful of Facebook reviews, Google reviews, those are some some big ones for us. And then not to completely discredit your functional outcome measures, right. And then there are certain things in web PT we have afforded where you’re able to track pain from IE to DC are able to track satisfaction goals met, in addition to some of your outcomes measures that are a little bit more formal. And yeah, the insurance companies telling you to do them, but doesn’t mean you should automatically dismiss them. Right? There’s, there’s often some tangible and objective data out there that a lot of other people are valuing. So take it with a grain of salt, you’re not putting much like your evaluation, right and your return to sport testing, because that’s the world we live in where everybody likes to argue about that all the time. You’re not putting any more value on any one given thing, the more that you have this aggregation of data, the better off you’re able to look at that and maybe potentially come up with certain trends or or certain things that in terms of painting this more broad picture better define your your business health So figure out your balance dashboard, your balance dashboard can be applied to a lot of different things obviously could go behind the scenes with regards to finances and stuff like that, but all other conversation 100% but you know, your your balanced dashboard is most likely going to lead you to better decision making. And giving you a better gauge for what actually is going on behind the scenes in your business. And it really, it’s, it’s, and I always look at that, and I go, Well, this is telling us whether or not a process actually works. And if I’m not getting what I want to hear, we need to go back to process,
35:14
I was just you took it took the words out of my mouth, I was gonna say having that balanced dashboard allows you to make better shared decision making 100 better, better shared, better shared decisions. Yes, just like just like we would do with a return to sport after an ACL. It’s a shared decision making between the therapists, the coach, the parent, the the patient, whoever it is, everybody’s got some input. So when you look at a good balanced dashboard, and just for people who aren’t familiar when we’re talking about what a dashboard is, it’s where you have, what metrics you’re using to evaluate your business. And those metrics can be your net promoter score, it could be your net profit, it can be patient satisfaction, it can be whatever it is for your business you want to have on that dashboard. And it’s different for everyone and should be, right, yes.
36:13
and dare I say after 10k, SD, my dashboard looks a lot more like an Excel spreadsheet at this point. And I know you can relate.
36:20
I can’t go into Excel spreadsheets right now. But yeah, so just so people know, like your dashboard is anything that you’re using to measure something, a process in your business. So it can be a whole boatload of different things. But just like we do with patients to look at that dashboard, and be able to to look at it with your team employees, whomever, and be able to make informed shared decisions on how you’re going to move that business forward. how you’re going to make changes in your process, like you said earlier. So perfect. Perfect. All right. Now, last question are actually no, where can people find you? Let’s talk about that first.
37:03
For sure. Instagram and Twitter is probably where I interact with the most I try to keep Facebook honestly just a community connection. So if you friend me on Facebook, don’t take it the wrong way. I just try to keep the PT side of things off of Facebook. But from a professional connectivity standpoint, at Dr. Josh funk on Twitter, and Instagram, my email is also Dr. Funk at rehab to perform calm. If you really want to get a hold of me, DM me on social media, get my phone number, text me your availability, that’s the best way to get things done. Email right now is very chaotic. We just opened up a new location. I’m also getting married in about three weeks. So my life is not necessarily all that organized. And just because there’s a lot of moving parts right now. So email, not the best place. But I’m very happy to interact, always happy to make time for a call, especially when I’m driving sometimes I like to just honestly plan out a call for when I’m driving between locations or something like that.
38:00
Excellent. Well, thank you so much for giving people all that info. And last question, knowing where you are now in your life and in your career. What advice would you give to your younger self, let’s say a young grad out of PT school,
38:13
I think I would have focused more on expanding my horizons outside of healthcare and physical therapy sooner. I think the more that I started to look at what was going on in other industries, other professions. It made me better at PT and especially made me better at running a business, I can safely say that much of healthcare practices from a business standpoint are extremely dated, and that you are better off spending time studying businesses and other industries for inspiration. It’s not to say that there’s not some people that are doing amazing work in our profession and healthcare as a as a whole. But I would say the collective is still I almost at this point. I wonder if it’s decades behind, just with regards to just how they’re operating. So continuing being open for inspiration in a wide variety of from places, you’d be surprised if you just had an open mind. What you might be able to see in something that maybe at one point your life you may be just glanced past or completely ignored.
39:16
Love it. Excellent advice. Josh, thank you so much for coming on. And again for the listeners tomorrow at 730. Yeah, right. No eight. Oh my gosh, where’s my head tomorrow? The 27th at 8pm we’re going to have our roundtable with Josh, Eric mellow Michelle Callie and shantay Cofield. So if you haven’t signed up yet, definitely sign up because we’re gonna be talking like this but probably more in depth and we need your questions. This is a this is your chance to ask people like Josh and Shantae and Erica and, Michelle, any question you want to have these four people together on one sort Stage, it’s not going to happen anywhere else. So now’s your chance, ask those questions. You ask those burning questions to four amazingly successful entrepreneurs in the physical therapy space. So I encourage you all to sign up. You could do that at podcast at healthy, wealthy, smart, calm, click on the tab that says round table talks. So Josh, thanks so much. And again, looking forward to tomorrow. So thanks.