Practicing physical therapy, while remaining profitable, has never been more challenging. Physical therapists today face an increasingly difficult reimbursement landscape that is squeezing already compressed margins and pressuring practices to increase patient volume for already exhausted PTs. With many PTs spending hours each day after work wrapping up notes, it’s no surprise that WebPT’s 2022 State of Rehab report cited worklife balance as a chief concern of PTs or that PT turnover was ~9% in 2022...3 times the national average for the broader healthcare industry.
To stay in business, PT practices are going to need to find ways to reduce PT burnout, increase clinic volume and improve profitability and cash flow for each case. Although it seems like an impossible mix of objectives, NYSSPT, an out-of-network PT practice with four locations throughout metro NY, managed to find a way to do just that.
NYSSPT’s founder, Karn Santikul, graduated from Columbia University with his Doctorate Degree in Physical Therapy. He opened NY Sports and Spinal Physical Therapy (NYSSPT) in February 2008 and has since expanded it from a single location in Scarsdale to four locations throughout the metro NY area. In the last few years, Karn, who also provides business coaching services, has seen and heard all about the pain of diminishing margins. PT retention has also become a
common theme, with documentation burden and worklife balance being two of the most commonly cited
reasons for PTs deciding to leave.