How to Get the Most Value Out of This Year’s PPS
Paul shares how PT business owners can make the most of the 2023 Private Practice Section conference, from strategic networking to his top session picks on compliance, recruiting, and valuation.
Full transcript
Generated from the episode audio and lightly edited for readability.
Hello PT business owners and welcome to another episode of the Martin Rehab M&A advisory. So excited because today we are going to focus on how I believe you can make the absolute most out of the private practice section conference 2023. So this show that we're going to do is absolutely catered to you making sure that you make the most out of this private practice section conference. You know, literally I believe this is the biggest event of the year for physical therapy professionals. And you know, we really think of this not just as a conference, but it's literally it's a pivotable moment each year in our industry.
It's kind of like the New Year's Eve for physical therapy business owners. It marks the stopping point to take the time to reflect on last year and then a new starting point to gear up for the challenges and the opportunities that we have ahead. So you know this is event again it's our time together we can share insights and we can really set the stage for how we can be most successful in 2024 and beyond. So, you know, one of the most valuable aspects of this conference is simply the opportunity to network with our colleagues.
But don't just network casually. Do it with a strategy. Simply ask yourself prior to going to the conference, what's the biggest challenge that my practice or my clinics are facing right now? And who at this conference could help me to overcome some of these challenges? And once you start having those answers, make it a mission to track down those individuals and start a conversation. You know, one of the things about this profession and about this conference and about our industry is how willing people in this industry are to share knowledge, share strategies.
So this is your chance. This is your opportunity to learn, connect and find some solutions to some of the issues or problems or challenges that you're having. Make this conference work for you. Now there's a large number of courses and sessions available. So I think it's also really crucial that you plan your schedule strategically. Focus on the topics that are most relevant to your business and to your plans for 2024 and beyond, not just courses that may be comfortable for you. Be very intentional about your choices and you're going to leave the conference with valuable insights and knowledge.
So what I thought is I would walk through what I think in at least as I look out at the challenges that we have in this industry today. What are some of the most significant things and courses that we could take? So first, are you considering a s a significant change in your business next year? Perhaps you're looking to either sell your business or look for a larger partner. Well, first and foremost, I would invite you to visit our booth 923, because our team is ready and waiting to discuss your plans, offer advice, and help you prepare for this major event.
And in light of some of the current un, you know, economic uncertainties, staff recruitment challenges, as well as the notable decrease in practice operations and financial performance, it's more crucial than ever, as I just said, to attend the sessions that will address these headon. So, here are some Paul Martin top picks for sessions that you should go to at the 2023 private practice section conference. The first one is called the state of the physical therapy industry, a growing profession facing new pressures. Again, I think this is a must attend for anybody who's looking to gain a very comprehensive understanding of what's going on in the current state of our industry.
Again, as I just mentioned, economic challenges affecting these businesses across the board and it's crucial that you stay informed on the latest trends and pressures that we are facing. I really believe that this session as long as well as the folks that are providing this session that they're going to give you knowledge and most important strategies for things that you need to advocate through these very difficult times. Next, running a successful and compliant PT practice in 2024. Look, for anyone and especially if you may be looking to sell your company over the next few years in times of financial strain, ensuring that your practice is compliant and efficient is more important than ever.
This session is going to provide you valuable insights into best practices for running a physical therapy practice and it's going to help you to optimize your operations and stay ahead of some of the regulatory changes. I will tell you that one of the biggest risk factors going into a sale process is compliance. All right. Next, I love the I love the this session title. It's called money pit or ROI, return on investment for recruiting staff development and leadership. Look, with the ongoing challenges that we have in staff recruitment and development, investing in continuing education, it's become a hot topic.
So, everybody's saying invest in continuing education, invest in staff recruitment, invest in staff retention. But this session is going to delve into how we can turn these investments, continuing education, into a strategic investment. Making sure that you with the investments that you make, you're attracting top talent and you're developing leaders within your team. All right. And finally, how can you boost your valuation in 2024? Here's what the top acquirers are saying. Look, this is my session and I am I'm really excited to share insights that we have gained from doing interviews with the top acquirers in this interview, I'm sorry, in this industry and their views on the trajectory of where the M&A market in this industry is going.
So, we went right to the source for this information. And if you're considering selling your practice at any time in the future, or you want to increase the value of your practice, this session will absolutely provide you with strategies to boost your valuation and to make your business more attractive to potential acquirers to move you to the top of the list. Now, all these sessions that I just went through, they're geared to address the key challenges that we are all facing today's environment. They're going to provide you with, I love this word, actionable insights and strategies in order to improve your practice operations, financial performance, and overall success.
Look, PPS 2023, this is your chance to turn challenges into opportunities. As I said before, come with a purpose, ready to learn from experts, connect with colleagues, and leave with a clear action plan that will help you navigate kind of the new year's the new year coming ahead. So let's make TW 2024 a year of resilience, growth, and absolute unprecedented success for your practice and our profession. I look forward to seeing you at the private practice section 2023. Thank you for watching and I look forward to seeing all of you at the conference.
Thank you and have a great day. And if you'd like to talk to me in more detail about this or any of our other videos, click below and let's talk.
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