From Insight to Action: How Our Assessments Drive Results
Paul Martin explains how our targeted assessments identify what's holding rehab companies back, and how our clients are using these assessments to grow rapidly, unlock profitability, build stronger teams, and create better exit options.
Full transcript
Generated from the episode audio and lightly edited for readability.
Hello and welcome to another episode of the Martin Rehab M&A Advisory. I'm Paul Martin, founder and president of Martin Healthcare Advisors. And today I want to continue from the last video that we did where I laid out the framework for our consulting with the five Ps. If you recall that was the plan, the profits, the people, the eventual partner and the product. And remember the product is that exceptional customer service, that exceptional patient experience that you give to your patients. So if you saw that last video introducing ROI consulting, this is essentially the next chapter.
And what we're going to do today is we're going to go deeper into how we are helping rehab business owners unlock profitability. We're helping rehab business owners gain control of their businesses and build towards massive exits or sustainable growth. We're not working in theory here. These are real results and these are results that are happening right now and these are companies just like yours. So, let's jump in. First, let's take a big picture look at our industry. Kind of that 30,000 foot view. The volume of sellers in our space has expanded rapidly.
But here's the challenge. Buyers have seen too many disappointing deals. They're learning that they need to become more selective. They're becoming more cautious and they're becoming more demanding in a sale and or a partnership process. So if you want to exit, sell, transition, or even just grow smart, the old playbook that has been in place for these last two to three years just will not cut it. You need to have performance. You need to have systems. And you need to have clarity on your business. And that's what we're offering in the new consulting that we have built into our company.
So let's talk a little bit about why we've decided to make this scale in consulting right now. You know, as we worked with more and more rehab business owners, we noticed a pattern. Many businesses are stuck. What are they stuck in? They're stuck in low profits. They're stuck in staffing challenges. They're stuck in daytoday, I know, for a choice of a better word, mud that keeps you from growing. So, we began offering targeted assessments and then hands on by the side by side with the client consulting.
And today we're going to focus on the multiple assessment offerings that we are bringing to the industry. The results from these assessments and sidebyside hands-on consulting have been remarkable. With our clients, their profitability has significantly increased. Hiring and retaining staff is getting stronger and stronger. And these business owners are truly feeling like they are back in control. Being out of control in your business is just a terrible feeling and a terrible way to break up to wake up every day. So we're now scaling that model to be able to serve this to businesses nationwide.
So the framework of what we do, it really all starts with an assessment. And these assessments are geared to what you as the client believe is your greatest need at the point in time that we are talking. And with that data from the assessment, we're now able to uncover hidden value and build strategy. It's not a guessing game. We're not assuming what you need. We diagnose the problem just like your physical therapists are diagnosing their patients. We're then prescribing a targeted plan. And each of these assessments that we're going to cover today will uncover where your business is stuck and most importantly how to get profitability as again a part of your business.
We offer an outside in assessment. We offer a growth potential assessment. We author offer a profit potential assessment and finally a recruiting retention assessment and I'm just going to walk through really briefly each one of those and how we believe they are extremely valuable as the first step. So our first assessment are outside in assessment. This is a starting point towards your company truly building value. We call it the OIA for outside in assessment. It's an assessment that we've been doing for many years and have had great success.
Think of it as a kind of a highlevel X-ray look of your company. We assess your business the very same way that the best acquireers in this market will assess and view your business. And from that view, we're able to identify the roadblocks to higher profits and higher value. We then roll out a plan to strategize with you on how to fix these issues and move forward leaving them in your rearview mirror. Now the next assessment is called a growth potential assessment GPA. Look, if you want to grow, but you don't know the best way to do it, this assessment will uncover the best strategies for your growth, bringing years and years of experience growing physical therapy companies.
So, it's going to unlock and show you those strategies and it's going to show you those for your company and in your market. And so whether it's a new startup strategy, whether it's a acquisition strategy, whether it's a hospital contract strategy or the way in which I grew, it was a mix of all three of those. The growth potential assessment maps these opportunities in front of you and gives you a growth playbook customized to your re to your resources, to your market, and to your team.
You know, it's remarkable how motivating it becomes. And I love this working with clients when you can actually see the client that they can see what their business is going to look like one year down the road, three years down the road, five years down the road. You know, think of it as a you go you go to Map Quest or you go to any of the mapping programs and you put in where you want to go and then it gives you that map to get there.
It shows you where the roadblocks may be. It shows you where police may be. It shows you where traffic may be. Well, that's very similar to this growth potential assessment. It's going to give you that road mapap. It's going to give you that ways look at how you get to where you want to go. All right. Now, a as we zoom in further, the next assessment is called a profit potential assessment. This is where you can show where we can show you how you can make tremendous gains in your business.
And these significant gains do not require more referrals or more visits. It's simply doing the right thing both clinically and operationally with each patient that you already have. We dig deep into your operations and identify where is the cash, where is the money leaking. We use a lot of strategy around charge capture, a lot of strategy around schedule management. And we're not only talking strategies, but then how will we execute? We've helped companies after execution unlock hundreds of thousands and even millions of dollars without adding one more new patient.
Obviously, more than what you're typically able to have come in. But with no change in numbers of patients, numbers of visits, this is pure margin recovery and every single company should be maximizing on this because it all also works from a clinical perspective as well. If you're not billing and your therapists are not billing skilled codes, they're not really giving the patients what they need and what those patients deserve. And they then need to make sure that they are being reimbursed and they are billing for those skilled codes.
All right. Next is what we call our recruiting and retention assessment. This is one of the biggest challenges that we are seeing in this industry and it's businesses rehab businesses ability to recruit and retain professional staff. Look, if you can't staff your business, you can't scale or grow your business. And what our recruiting and retention assessment will show you is what's currently working for you, what's not working, and what are some other tools that you are going to be required to utilize in order to hire and retain not just people, but great people and the best people in your market.
This is, as I just said, this is one of the hottest pain points in rehab right now. And we're helping business owners to solve this issue. Now, what I would like to do, and we're going to do this over the next coming weeks, that's why this side says case study coming soon. Over the next couple weeks, we're going to be interviewing Josh Meyers, so that he can give you some reall life examples of how this has played out, not only with the assessment, but also with the work that we have done with clients.
He's going to give you a look at real data and again how businesses have worked to make these necessary changes and how they are today reaping the benefits of that work. So here's what we believe we have created for you. We believe and we we've worked really hard to figure out what is the best strategy in order to make sure that we're able to help as many business owners as possible become profitable. We do not like seeing unprofitable businesses coming to us after they've tried to go into the market and they've been pushed right back home.
So what it does is it gives you an opportunity to you know pick and choose where you believe you need the most help and then we can simply dig into that first. You don't have to commit to everything. It does not have to be an allout assessment to start. You choose the assessment that you believe will matter most for your business. And as you know, each assessment will come with a road mapap. And if you want to help and if you want help implementing that road map, we can do that.
And what that will do is will give you an enormous return for your investment. And folks, I've been doing this for a long time. What gives me more joy for seeing our clients and what gives me joy for what I do is seeing our clients get those enormous returns for their investment. And again, that's why I do what I do. You know, business owners do tend to be wary of consulting firms. They want that big upfront commitment. That's not how we work. We are going to start with the data.
We're going to build an assessment again. And then we're going to build that treatment plan. And we're going to show you the size of the opportunity that you have. And only then will you decide how much help you want. And that's how you get a huge return on your investment with very little risk. It's those steps. It's the assessment. It's showing you what will be created, what your business will look like if you execute on the strategies that we've laid out. And then we can give you a time frame with what you should expect on the results and how much return for your investment that's going to give you.
You know, when you increase your profitability, you don't just get better cash flow. Long-term, it gives you choices. I've been saying this for many years. You want to build a business that gives you choices. You can then self-fund growth if you'd like. You can run lean and generate long-term wealth for you and your family and continue to work. You can choose when and how you exit. And that's what this is all about. It's about helping you take control of your future. You know, I came up with this and what we're calling this is the value growth flywheel.
And this I came up with this based on again all of our assessments that we do. And that's how it starts. So it starts with assess then it's optimize. Optimize what we have. Then it's grow. Then we got to come back and reassess where we are. And when you're able to continue to get on that flywheel, it creates multiple ex exit options for you. Unfortunately, most owners jump straight to growth or straight to exit before they have optimized. But if you do the work and you turn your company into a high-erforming, a top performing asset in your market, the exit opportunities multiply.
So again, we've built these assessments to be a starting point. If you're ready to explore a starting point and some of this resonates with you today, just click below and let's talk. Thanks for joining me today and have a great rest of your day and a great weekend. Thank you.
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