Improving Your Clinic’s Bottom Line – A New Way
The Power of Post Offer Employment Testing
Profitability is the challenge for today’s Physical and Occupational Therapy clinic. The landscape of healthcare has changed dramatically over the past several years. Cuts in reimbursement, rising insurance deductibles for patients, and skyrocketing copays have all put new pressures on clinics to retain patients and bring in additional revenue. And often, competition from other, larger clinics eats into the bottom line. Passively waiting for patients to stream in from orthopedic referral sources simply isn’t cutting it anymore.
That’s why more and more clinics are pursuing new revenue sources to improve their bottom line. Pre-hire employment testing is one of the services that is gaining momentum and rapid adoption with clinics around the country. And it’s no mystery why the demand for this service is growing – large employers, burdened with rising insurance, workers comp, and lost time costs, are eager to prevent injuries in their workplaces and maintain a healthier workforce. Ensuring job candidates are physically capable of performing the physical demands of each specific job is the first step to meeting this objective. As a result, there is a demand by employers to contract with providers capable of delivering customized “Post Offer Employment Testing” (POET).
Post Offer Employment Testing provides a major new recurring revenue stream for hundreds of clinics in the US and Canada. But a clinic can’t go it alone. Fortunately, there are established partners to help make POET a successful profit center for your clinic. Companies like BTE contract with large employers, to provide high volume testing. They leverage proprietary technology to go onsite to the employer and objectively measure all the physical demands of a job. From that expertise and process, a POET protocol specific to each job is created.
ROI Case Study: Kinetic Worx
Susy Gutierrez, owner of Kinetic Worx in Turlock, CA, has built the bulk of her business performing POET testing. Susy is a provider for employer injury prevention and workplace safety industry leader, BTE. She believes the uniqueness of the BTE POET has a lot to do with her success and continuing BTE referrals. “Unlike all the other testing methods I’ve seen and used in the past, BTE’s objective technology delivers consistent, accurate results. Eliminating subjectivity and human error to prevent injuries down the line. No other pre-employment testing can offer that. Today’s companies need that, and they are willing to pay for it.”
Since starting her POET-focused business, Susy has more than doubled her office size, bringing in additional BTE equipment to handle the rising volume of testing. She has also expanded Kinetic Worx to include pre-employment hair follicle drug testing. And she’s branched out into performing postural analysis services to the local community – something she truly loves doing. “I’ve come a long way in two years. I have had to bring on additional employees to help manage our testing volume.”
The benefits of POET and strong return on investment for businesses like Kinetic Worx are clear. But how exactly does it work? Getting your clinic into the POET business starts with partnering with a premiere Workforce Solutions provider and joining their provider network, to receive referrals, quality assurance, and POET training. For partners of BTE, this includes upgrading your clinical capabilities with an objective BTE Functional Testing System. The Functional Testing System is the key to POET – capturing accurate testing data, and administering legally defensible pre-hire physical testing.
An additional revenue stream comes from expanding your business relationship with your POET customers by winning their Workers Comp business – a lucrative, steady source for clinic visits. Your therapeutic skills married with BTE’s Functional Testing System is a powerful clinical solution that can be leveraged to bring in those additional clients – above and beyond the stream of POET referrals. The system is a robust tool that clinics are using to provide top tier Functional Capacity Evaluations and automated reporting for referrers, as well as providing Fit for Duty Testing for employers. Particularly in areas with small to medium industry, the return on investment is limited only by a clinic’s desire and drive to take on new employer and insurer business.
Growing Your Clinic
In any business, including today’s therapy market, it’s all about growth. And finding the right partner can make all the difference. At Kinetic Worx, Susy is on her way, looking to open additional offices. Her operation is a powerful ROI case study on the business benefits of incorporating POET, as Susy continues to push Kinetic Worx forward, growing revenue year over year. Regarding making that pivotal decision to go out on her own and invest in POET, Susy says, “I feel like I’m partnered with a great company. BTE is the reason I was able to start my own business.”
Susy sees employer demand for BTE POET testing continuing to grow, driving even more referrals. “In today’s market, with injury and claims costs being what they are, I don’t know why any company would not do POET testing.” To Susy, it all just makes sense. “As a small business owner, and a mother of three, the fact that I believe in what I am doing as a BTE provider is huge. It makes all the hard work worthwhile, for me, and for my family.”
If your clinic’s volume and revenue numbers could be better, or if you are simply eager to grow, you owe it to yourself to consider the benefits of becoming a POET provider, and giving your clinic the benefits of adding a powerful Functional Testing System to expand your capabilities. Taking advantage of the rising demand for POET in the US and Canadian markets, differentiating yourself from the competition, and adding new revenue streams to improve your bottom line.