The vast majority of therapists and assistants did not go to college to either own a therapy practice or to manage a therapy practice or department. They went to college to become a therapist or assistant to work with patients who require therapy services. In addition, many therapists and assistants open a private practice or move into a management role with no experience and/or education in business. They are good at treating patients, but do not know how to read a P&L report, create a budget, understand what metrics to track and how often to track them, and when the budget is not achieved, why was it not achieved.
This webinar will teach participants what metrics should be tracked on a monthly basis as well as how to establish your budget for outpatient therapy services provided in calendar year 2024. Participants will also receive Gawenda Seminars & Consulting budget tracking document in an excel format that can be customized by the participant to meet the needs of your practice.
At the conclusion of this webinar presentation, participants will be able to:
- Identify what financial data to analyze (units, visits, evaluations, etc) and interpret this data to determine the financial success or failure of your practice/organization.
- Describe the difference between cancel/no show rates and arrival rates
- Understand the difference between cash and accrual accounting
- Discuss which metrics are most important when looking at your financial bottom line
- Recite the minimum profit margin a practice should have at the end of the year
Rick Gawenda, P.T., graduated in 1991 with a Bachelor of Science in Physical Therapy from Wayne State University, Detroit, Michigan. Mr. Gawenda is currently the President and founder of Gawenda Seminars & Consulting, Inc. and Director of Finances for Kinetix Advanced Physical Therapy Inc., a private practice located in southern California. He has provided valuable education and consulting to hospitals, rehabilitation agencies, private practices, nursing homes, and his peers in the areas of CPT and ICD-10 coding, billing, documentation, reimbursement, and compliance as it pertains to outpatient therapy services as well as denial management and the appeals process for Medicare denied claims. Mr. Gawenda’s website, www.gawendaseminars.com, provides a valuable source of information on rehabilitation rules and regulations, coding, documentation, and reimbursement.
Mr. Gawenda is a member of the American Physical Therapy Association (APTA) and Michigan Physical Therapy Association (MPTA). Mr. Gawenda is the Past President of the Section on Health Policy & Administration of the APTA as well as Past President of the Michigan Association of Medical Rehabilitation Program Administrators.
Mr. Gawenda is also the author of “The How-To Manual for Rehab Documentation: A Complete Guide to Increasing Reimbursement and Reducing Denials” and “Coding and Billing For Outpatient Rehab Made Easy: Proper Use of CPT Codes, ICD-9 Codes and Modifiers”.
Physical therapists, physical therapist assistants, occupational therapists, occupational therapy assistants, speech-language pathologists, private practice owners and practice administrators, office managers at private practices, as well as directors, managers, supervisors, and compliance officers in skilled nursing facilities, hospital outpatient therapy departments, rehabilitation agencies, home health agencies, and comprehensive outpatient rehabilitation facilities.
In addition to the expertise and advice presented during this webinar conference, you’ll also receive a handout (in PDF format) that will include related reference links. Participants will also receive Gawenda Seminars & Consulting budget tracking document in an excel format that can be customized by the participant to meet the needs of your practice.
This webinar has not been submitted to any state board or national organization for CEU approval. A certificate of attendance will be available upon completion of the webinar for each participant and may be adequate for credit in some states; you will need to contact your state licensing regulatory body to determine whether or not credit will be granted for this webinar conference. We provide no additional information for CEU approval.
Time: Approximately 1 hour and 30 minutes (including Q&A time recorded)
There are no refunds for no shows or any other reasons once you register and payment is received. We are not responsible for organization firewalls or computer software issues that may interfere and/or prohibit your connection to the webinar portion of the presentation.
Venue system requirements:
- Microsoft Internet Explorer 7+, Mozilla Firefox 2.5+, Safari, or Chrome
- 1024 x 768 screen resolution
- Stable Internet connection, DSL or above
- Wired Internet connection; wireless is not recommended
- Flash Player 9 or higher
- Disable pop-up blockers
- Computer speakers for participants
Note: Android Smart Phones (i.e. iPhone) are not compatible.
In order to ensure a successful connection to the playback webinar link, please take a moment to conduct a system test by clicking this link: http://web.telspan.com/systemcheck
***Application Sharing does not need to be operational in order to view this webinar playback link.
*** This WEBINAR PLAYBACK LINK and HANDOUTS is not to be distributed outside of your organization. If you have a larger organization and have multiple locations, then please contact us here for pricing.
