WEBVTT 00:00:02.029 --> 00:00:04.650 Broadcasting way too early from three 00:00:04.690 --> 00:00:06.492 separate Wi-Fi connections. 00:00:06.572 --> 00:00:09.913 It's PT Breakfast Club with Tony Meritato, 00:00:10.173 --> 00:00:12.814 Dave Kittle, and Jimmy McKay. 00:00:12.835 --> 00:00:17.998 All right. 00:00:18.117 --> 00:00:19.498 Happy Thursday, 00:00:19.739 --> 00:00:21.739 July ninth for PT Breakfast Club. 00:00:21.760 --> 00:00:22.219 I'm Jimmy McKay. 00:00:22.239 --> 00:00:22.881 That's Dave Kittle. 00:00:22.940 --> 00:00:25.661 Tony Meritato is holding down the fort. 00:00:26.021 --> 00:00:27.163 Didn't he have some people out on 00:00:27.722 --> 00:00:28.143 vacation? 00:00:28.382 --> 00:00:29.204 He's holding down the fort. 00:00:30.132 --> 00:00:31.292 Um, 00:00:31.332 --> 00:00:33.834 today I want to talk about a text 00:00:33.893 --> 00:00:35.615 exchange that you shared in the group 00:00:35.655 --> 00:00:36.015 chat. 00:00:36.454 --> 00:00:38.036 And I don't think there's anything special 00:00:38.055 --> 00:00:38.396 about it. 00:00:38.737 --> 00:00:39.837 And I think that's why I want to 00:00:39.856 --> 00:00:41.578 share it is there's nothing special about 00:00:41.637 --> 00:00:41.718 it, 00:00:41.798 --> 00:00:43.738 except I think sometimes people over 00:00:43.798 --> 00:00:46.881 complicate this exchange where I think 00:00:46.901 --> 00:00:50.463 your exchange was just simple and basic 00:00:50.942 --> 00:00:52.143 and nothing flashy about it. 00:00:52.183 --> 00:00:54.765 So like set the stage, who was this? 00:00:55.505 --> 00:00:57.707 And like, just like, you know, 00:00:57.767 --> 00:00:58.267 paint the picture. 00:00:59.723 --> 00:00:59.904 Yeah, 00:00:59.944 --> 00:01:01.926 prospective client that was reaching out. 00:01:02.165 --> 00:01:06.588 And if someone is not always, 00:01:06.709 --> 00:01:08.370 but it doesn't matter the age always, 00:01:08.411 --> 00:01:10.292 but someone who reached out that's like 00:01:10.311 --> 00:01:10.832 twenty or thirty, 00:01:10.873 --> 00:01:12.733 like they're typically they're like a 00:01:12.774 --> 00:01:13.795 little bit more in tune. 00:01:13.935 --> 00:01:15.456 So they're usually saying things like, 00:01:15.936 --> 00:01:17.138 do you take my insurance? 00:01:17.158 --> 00:01:18.037 But then they'll double down. 00:01:18.058 --> 00:01:18.519 They'll say, like, 00:01:18.599 --> 00:01:19.879 are you guys in network? 00:01:19.900 --> 00:01:21.501 Because they probably got burned or they 00:01:21.521 --> 00:01:24.302 got surprised elsewhere recently or before 00:01:25.183 --> 00:01:25.724 with like. 00:01:26.584 --> 00:01:27.725 and we never want that we never want 00:01:27.745 --> 00:01:28.986 someone to like come to our office and 00:01:29.025 --> 00:01:30.246 then find out that we're out of network 00:01:30.266 --> 00:01:32.087 right so we are like over we want 00:01:32.108 --> 00:01:34.688 to over communicate up front it reduces 00:01:34.730 --> 00:01:36.771 conversion rates but it also results in 00:01:36.811 --> 00:01:40.272 like no poor online reviews about billing 00:01:40.412 --> 00:01:43.274 or you know nefarious activity or secret 00:01:43.313 --> 00:01:45.234 you know like um bait and switch whatever 00:01:45.314 --> 00:01:47.856 type of stuff so it was a prospective 00:01:47.897 --> 00:01:51.197 client that had reached out um obviously 00:01:51.218 --> 00:01:53.058 in this example like the diagnosis is 00:01:53.099 --> 00:01:53.799 irrelevant so 00:01:55.147 --> 00:01:56.569 they were in a text exchange. 00:01:56.688 --> 00:01:58.549 We were in a text exchange and they 00:01:58.588 --> 00:01:58.989 said, hey, 00:01:59.349 --> 00:02:00.349 would this be in-network or 00:02:00.390 --> 00:02:00.909 out-of-network? 00:02:00.989 --> 00:02:03.350 And then we said, we're out-of-network, 00:02:03.570 --> 00:02:06.072 are you only looking for the lowest cost 00:02:06.731 --> 00:02:09.413 slash in-network, question mark, 00:02:09.612 --> 00:02:11.193 or fastest results, question mark. 00:02:11.234 --> 00:02:11.454 Now, 00:02:12.493 --> 00:02:14.074 the in-network practice owners out there 00:02:14.495 --> 00:02:16.895 will not like that because I'm kind of 00:02:17.036 --> 00:02:18.856 framing us as faster results, 00:02:18.997 --> 00:02:20.858 but arguably, 00:02:21.277 --> 00:02:23.538 if you had more one-on-one time with more 00:02:23.579 --> 00:02:24.079 patients, 00:02:25.197 --> 00:02:27.359 I believe you can get results faster. 00:02:27.419 --> 00:02:27.878 Now, of course, 00:02:28.058 --> 00:02:29.360 in-network practice owners that have 00:02:29.400 --> 00:02:30.721 twenty, thirty years of experience, 00:02:31.181 --> 00:02:32.762 they can probably get faster results than 00:02:32.842 --> 00:02:34.963 I can, even if they're treating, you know, 00:02:35.163 --> 00:02:36.805 three patients or four patients at the 00:02:36.824 --> 00:02:37.264 same time. 00:02:37.284 --> 00:02:37.425 Right. 00:02:37.444 --> 00:02:40.146 Because they're just so experienced and 00:02:40.167 --> 00:02:41.967 they're way more efficient and all that. 00:02:42.008 --> 00:02:46.131 But I'm talking about like staff P.T. 00:02:46.531 --> 00:02:47.491 compared to staff P.T. 00:02:47.512 --> 00:02:48.252 across the country. 00:02:49.073 --> 00:02:51.134 anyway so that's how i wrote it then 00:02:51.194 --> 00:02:53.377 this person wrote back in network so i 00:02:53.396 --> 00:02:54.798 i asked hey are you only looking for 00:02:55.358 --> 00:02:58.420 the lowest cost slash in network question 00:02:58.441 --> 00:03:00.822 mark or fastest results question mark they 00:03:00.861 --> 00:03:03.324 replied in network my out of network 00:03:03.343 --> 00:03:05.385 deductible is super high so that's this is 00:03:05.425 --> 00:03:07.907 totally fine but we want to like flush 00:03:07.927 --> 00:03:09.128 this out like we want to make sure 00:03:09.969 --> 00:03:10.090 um 00:03:11.570 --> 00:03:13.592 we want to communicate and get clarity on 00:03:13.611 --> 00:03:15.431 like the person and there's nothing wrong 00:03:15.451 --> 00:03:16.592 with this like they're just a little more 00:03:16.673 --> 00:03:18.794 cost conscious like if i was i think 00:03:18.834 --> 00:03:20.354 this i think this person reaching out was 00:03:20.373 --> 00:03:22.655 like in their twenties right so if you 00:03:22.694 --> 00:03:23.975 don't have your parents paying for 00:03:24.015 --> 00:03:25.436 everything and you live in new york city 00:03:25.515 --> 00:03:27.437 and you're and you're in your twenties i 00:03:27.456 --> 00:03:28.497 totally get it if you have out of 00:03:28.516 --> 00:03:30.578 network uh and not a network deductible 00:03:30.617 --> 00:03:31.897 that was like i forget what it was 00:03:31.918 --> 00:03:32.859 for him but it was um 00:03:33.519 --> 00:03:35.080 It was probably I think it was closer 00:03:35.099 --> 00:03:35.659 to ten grand. 00:03:35.699 --> 00:03:35.860 Right. 00:03:35.900 --> 00:03:37.400 So it's like you got to pay ten 00:03:37.419 --> 00:03:39.700 grand out of pocket before you're out of 00:03:39.721 --> 00:03:42.602 network will cover at eighty or seventy or 00:03:42.701 --> 00:03:43.663 one hundred percent or whatever. 00:03:43.703 --> 00:03:43.902 Right. 00:03:43.943 --> 00:03:46.604 So when I moved to New York City 00:03:46.644 --> 00:03:50.625 in twenty twenty in twenty fourteen, 00:03:52.145 --> 00:03:55.947 I I could put myself in these shoes. 00:03:56.007 --> 00:03:56.667 I totally get it. 00:03:56.706 --> 00:03:56.947 Right. 00:03:57.707 --> 00:03:57.888 So. 00:03:59.052 --> 00:04:02.014 this this individual had you know said 00:04:02.055 --> 00:04:03.436 that they're specifically looking for in 00:04:03.475 --> 00:04:06.016 network now at that point um we're not 00:04:06.037 --> 00:04:07.258 going to book them or anything like that 00:04:07.298 --> 00:04:08.618 because we know that we are not in 00:04:08.639 --> 00:04:10.280 network and we want to be completely clear 00:04:11.000 --> 00:04:13.282 so then i wrote totally understand within 00:04:13.322 --> 00:04:16.343 network the therapist is usually treating 00:04:16.423 --> 00:04:18.404 two or three or four plus patients at 00:04:18.425 --> 00:04:21.427 the same time if you ever get frustrated 00:04:21.507 --> 00:04:23.668 with that model and want more time and 00:04:23.687 --> 00:04:24.168 attention 00:04:25.153 --> 00:04:26.916 feel free to reach back out to Concierge 00:04:26.937 --> 00:04:27.377 Pain Relief. 00:04:27.678 --> 00:04:28.279 And I was actually, 00:04:28.800 --> 00:04:29.983 one of the reasons why I shared this 00:04:30.023 --> 00:04:31.947 with you and Tony in the chat privately 00:04:32.226 --> 00:04:33.951 is because they replied thank you with an 00:04:34.011 --> 00:04:34.791 exclamation point. 00:04:36.437 --> 00:04:38.879 I mean, that's great. 00:04:39.238 --> 00:04:40.180 I feel like, hey, 00:04:40.199 --> 00:04:43.021 we've established some communication where 00:04:43.562 --> 00:04:45.262 this person is budget constrained and 00:04:45.283 --> 00:04:46.384 that's totally fine. 00:04:46.444 --> 00:04:48.644 We don't want to make people feel bad 00:04:48.764 --> 00:04:51.487 if they can't afford us or they don't 00:04:51.526 --> 00:04:52.827 want to pay out of pocket more to 00:04:52.867 --> 00:04:53.208 work with us. 00:04:53.228 --> 00:04:54.009 That's totally fine. 00:04:54.988 --> 00:04:56.029 Even the in-network places, 00:04:56.050 --> 00:04:56.891 we've talked about this before, 00:04:56.951 --> 00:04:58.951 even the in-network places are now 00:04:59.031 --> 00:04:59.812 stopping to take, 00:05:00.333 --> 00:05:01.814 they're not taking some insurances, right? 00:05:01.834 --> 00:05:04.576 So they're not taking GHIs and they're not 00:05:04.615 --> 00:05:06.237 taking some of the lower paying. 00:05:07.757 --> 00:05:08.757 a lot of them are dropping 00:05:08.798 --> 00:05:09.338 UnitedHealthcare. 00:05:09.399 --> 00:05:12.540 So the beneficiaries of those plans across 00:05:12.579 --> 00:05:13.079 the country, 00:05:13.261 --> 00:05:14.641 even in New York and New York State, 00:05:14.661 --> 00:05:15.060 New York City, 00:05:15.100 --> 00:05:16.482 but also across the country, 00:05:17.382 --> 00:05:19.064 all those practices can't serve everyone 00:05:19.303 --> 00:05:19.584 either. 00:05:19.684 --> 00:05:21.125 They are choosing not to serve everyone 00:05:21.225 --> 00:05:24.005 because the plans are just lower. 00:05:25.146 --> 00:05:26.848 They're just so low that it doesn't even 00:05:26.867 --> 00:05:28.648 cover their costs to deliver a visit. 00:05:28.708 --> 00:05:31.870 So I liked that this person wrote back, 00:05:31.970 --> 00:05:33.591 texted back, thank you, excellent point. 00:05:34.290 --> 00:05:34.711 And now... 00:05:35.752 --> 00:05:37.913 i've also foreshadowed by the way like 00:05:38.035 --> 00:05:39.516 they could they could go somewhere and 00:05:39.576 --> 00:05:42.720 have an amazing experience at some of the 00:05:42.759 --> 00:05:45.041 other network practices in the in the city 00:05:45.081 --> 00:05:47.485 where they go for they have thirty minutes 00:05:47.545 --> 00:05:49.846 one-on-one with the pt then the next 00:05:49.887 --> 00:05:51.028 thirty minutes is like 00:05:51.908 --> 00:05:53.689 some of the therapeutic exercise with like 00:05:53.730 --> 00:05:55.230 a tech or an aid which obviously is 00:05:55.271 --> 00:05:57.891 not not really legal but like and they 00:05:57.932 --> 00:05:59.533 still bill they still bill for that's 00:05:59.552 --> 00:06:01.934 another conversation but i planted a seed 00:06:01.973 --> 00:06:03.415 in this person's head this is this is 00:06:03.535 --> 00:06:05.975 obviously on purpose i planted the seed 00:06:05.995 --> 00:06:07.576 and i said hey you know when that's 00:06:07.596 --> 00:06:09.017 totally cool and i don't want to make 00:06:09.038 --> 00:06:10.718 someone feel bad but if you're going to 00:06:10.738 --> 00:06:12.300 go in network that's totally fine get it 00:06:12.319 --> 00:06:12.379 but 00:06:13.199 --> 00:06:15.523 But that model is going to be typically 00:06:16.283 --> 00:06:17.305 the therapist treating two, three, 00:06:17.324 --> 00:06:18.625 four patients at the same time. 00:06:19.187 --> 00:06:22.029 And what I oftentimes hear now recently 00:06:22.130 --> 00:06:22.271 is, 00:06:23.358 --> 00:06:25.779 patient will go and have an amazing first 00:06:26.079 --> 00:06:26.379 visit. 00:06:26.680 --> 00:06:27.240 And they'll be like, oh, 00:06:27.281 --> 00:06:28.761 the first visit was like one on one 00:06:28.800 --> 00:06:30.841 for like a whole hour with the therapist. 00:06:31.201 --> 00:06:32.543 And then I went back and then it 00:06:32.583 --> 00:06:35.144 was twenty seven minutes with the first 00:06:35.163 --> 00:06:35.704 therapist. 00:06:36.043 --> 00:06:37.444 Then I went back for visit number three 00:06:37.524 --> 00:06:38.785 and it was a different therapist. 00:06:38.865 --> 00:06:40.946 And that was also thirty minutes only 00:06:41.026 --> 00:06:42.146 total or whatever. 00:06:42.826 --> 00:06:44.947 Or or or they say I went back 00:06:44.987 --> 00:06:47.749 for visit number three and my therapist 00:06:47.788 --> 00:06:49.490 was treating for four people at the same 00:06:49.529 --> 00:06:49.790 time. 00:06:50.562 --> 00:06:52.704 So that, unfortunately, 00:06:52.745 --> 00:06:55.026 because of the crunch in payment 00:06:55.045 --> 00:06:55.547 reimbursement, 00:06:56.908 --> 00:06:57.987 a lot of these practices have to make 00:06:58.007 --> 00:06:58.629 it up on volume. 00:06:58.668 --> 00:06:59.088 You know that. 00:06:59.129 --> 00:07:00.149 Everyone that's watching or listening 00:07:00.170 --> 00:07:00.529 knows that. 00:07:01.151 --> 00:07:02.911 And therefore, 00:07:02.951 --> 00:07:05.913 they're delivering sometimes, oftentimes, 00:07:05.954 --> 00:07:07.074 not always, but oftentimes, 00:07:07.555 --> 00:07:11.098 the network practices have to deliver more 00:07:11.197 --> 00:07:11.677 on volume. 00:07:11.737 --> 00:07:13.300 And when it's more about volume, 00:07:13.500 --> 00:07:16.062 then you can't deliver a consistent 00:07:16.341 --> 00:07:17.642 product or service. 00:07:18.637 --> 00:07:19.999 meaning the services, the product. 00:07:20.259 --> 00:07:21.278 You can't deliver something that's 00:07:21.319 --> 00:07:21.879 consistent. 00:07:22.238 --> 00:07:23.319 And when it's not consistent, 00:07:23.699 --> 00:07:24.879 you get people that say, 00:07:25.040 --> 00:07:26.100 the first visit was amazing. 00:07:26.141 --> 00:07:29.942 It was one hour with Dr. Tom. 00:07:31.302 --> 00:07:32.603 Whole hour, one-on-one. 00:07:32.642 --> 00:07:33.343 I couldn't believe it. 00:07:33.663 --> 00:07:34.223 It was amazing. 00:07:34.444 --> 00:07:35.244 I'm going to stay forever. 00:07:35.745 --> 00:07:36.345 Visit number two. 00:07:36.685 --> 00:07:37.425 Oh, now it's like, 00:07:38.446 --> 00:07:40.786 thirty minutes and it was like a little 00:07:40.846 --> 00:07:42.286 rushed or a little busy, but like, 00:07:42.526 --> 00:07:42.966 it was good. 00:07:42.987 --> 00:07:43.627 It was good enough. 00:07:43.908 --> 00:07:44.588 It was good enough. 00:07:44.608 --> 00:07:45.447 It was decent or whatever. 00:07:45.487 --> 00:07:45.807 It was cool. 00:07:45.827 --> 00:07:46.189 It was good. 00:07:46.389 --> 00:07:46.769 It's fine. 00:07:47.562 --> 00:07:48.624 And then visit number three, 00:07:49.165 --> 00:07:50.225 it's a different person. 00:07:50.826 --> 00:07:54.309 Now the second therapist, Dr. Mary, 00:07:54.329 --> 00:07:56.071 is asking me all these questions that I 00:07:56.091 --> 00:07:57.232 already told Tom twice, 00:07:57.252 --> 00:07:58.273 and they're in the medical record, 00:07:58.673 --> 00:07:59.274 in the EMR. 00:08:00.153 --> 00:08:00.375 Dr. 00:08:00.415 --> 00:08:02.076 Mary is asking me all these questions as 00:08:02.115 --> 00:08:03.838 if they didn't talk and didn't 00:08:03.858 --> 00:08:07.761 communicate, or it's like new exercises, 00:08:07.940 --> 00:08:10.223 or it's redundant stuff. 00:08:10.764 --> 00:08:12.324 And so now it's like, oh, that's like... 00:08:13.305 --> 00:08:15.187 So now the person that's going to book, 00:08:15.648 --> 00:08:16.968 the patient that's going to book visit 00:08:16.988 --> 00:08:18.930 number four and five and six or seven, 00:08:19.050 --> 00:08:21.192 or if they're making them book all the 00:08:21.213 --> 00:08:23.093 visits up front or multiple weeks up front 00:08:23.314 --> 00:08:23.894 before they leave, 00:08:24.235 --> 00:08:25.456 now there's doubt in their head. 00:08:25.497 --> 00:08:28.038 And they're like, I mean, 00:08:28.098 --> 00:08:29.480 is this going to be like a wild 00:08:29.500 --> 00:08:30.740 card every time I come in? 00:08:30.841 --> 00:08:32.923 I want it to be consistent. 00:08:33.482 --> 00:08:34.744 And that, unfortunately, 00:08:35.465 --> 00:08:37.005 is in a nutshell why... 00:08:38.102 --> 00:08:39.183 What's the stat like? 00:08:39.283 --> 00:08:41.065 Ninety one percent of people don't finish 00:08:41.085 --> 00:08:41.684 their plan of care. 00:08:41.725 --> 00:08:42.524 I mean, that's part of it. 00:08:42.544 --> 00:08:43.586 There's a lot of other things. 00:08:43.625 --> 00:08:45.807 But let's let's let's banter. 00:08:45.826 --> 00:08:47.528 Let's go back and forth on this text 00:08:47.648 --> 00:08:48.989 and this whole kind of like scenario. 00:08:49.408 --> 00:08:50.409 Well, I mean, Larry, 00:08:50.610 --> 00:08:51.830 I just had a conversation with Larry Benz 00:08:51.850 --> 00:08:52.230 not long ago, 00:08:52.250 --> 00:08:53.451 and he talked about that that. 00:08:54.772 --> 00:08:56.052 Visit three drop off, 00:08:56.072 --> 00:08:57.994 which you just sort of what everybody 00:08:58.033 --> 00:08:58.933 says, oh, it's visit three. 00:08:59.214 --> 00:09:00.274 Why is it visit three? 00:09:01.095 --> 00:09:02.056 Walk me through that. 00:09:02.135 --> 00:09:03.096 And that's one example. 00:09:03.236 --> 00:09:05.697 And but that is the prevailing example. 00:09:06.796 --> 00:09:07.255 I, of course, 00:09:07.296 --> 00:09:08.736 like to break everything down or boil 00:09:08.756 --> 00:09:09.437 everything down. 00:09:09.857 --> 00:09:10.918 Let's go back to what you did. 00:09:11.239 --> 00:09:13.380 You didn't frame in or out of network. 00:09:13.480 --> 00:09:20.065 You framed quality versus question mark. 00:09:20.085 --> 00:09:21.285 That's even better. 00:09:21.365 --> 00:09:21.926 Or I just... 00:09:21.985 --> 00:09:23.827 Because I want to be nice to the 00:09:23.868 --> 00:09:25.708 in-network practice owners out there. 00:09:25.769 --> 00:09:26.809 I respect them. 00:09:27.169 --> 00:09:28.471 So I'm framing it as... 00:09:29.998 --> 00:09:31.658 different experiences so i don't i don't 00:09:31.678 --> 00:09:32.759 want to i don't want to i don't 00:09:32.779 --> 00:09:34.019 want to i don't want to say that 00:09:34.059 --> 00:09:35.480 we're elevated and i don't want to prove 00:09:35.500 --> 00:09:37.481 that so like what you did was you're 00:09:37.501 --> 00:09:39.403 like hey that's great totally understand 00:09:39.423 --> 00:09:40.864 that in your brain you're like i was 00:09:40.923 --> 00:09:42.504 twenty as well if that was the choice 00:09:42.625 --> 00:09:44.706 i'd probably be making that one just so 00:09:44.745 --> 00:09:47.847 you know and so you're foreshadowing which 00:09:47.888 --> 00:09:49.427 is a great line too which is like 00:09:50.229 --> 00:09:53.070 if you haven't done this it's also great 00:09:53.090 --> 00:09:53.951 too because they might be like yeah i 00:09:53.971 --> 00:09:55.231 don't think so and then when they get 00:09:55.272 --> 00:09:56.052 there they're like oh 00:09:57.437 --> 00:09:58.660 this is exactly what he said. 00:09:59.121 --> 00:10:00.264 And that's like exception-y. 00:10:00.926 --> 00:10:03.852 And some patients reach back out in two 00:10:03.873 --> 00:10:04.754 weeks, two months, whatever. 00:10:04.794 --> 00:10:06.038 And they're like, oh, like I... 00:10:07.573 --> 00:10:09.014 it started off good or, 00:10:09.095 --> 00:10:10.176 and obviously I'm not going to mention any 00:10:10.216 --> 00:10:11.557 names or practices, but like they'll, 00:10:11.697 --> 00:10:12.739 they'll reach back out and be like, 00:10:12.798 --> 00:10:14.941 Oh my gosh, like you, like it was, 00:10:15.041 --> 00:10:15.400 it was, 00:10:15.501 --> 00:10:16.962 it was better than I thought it was 00:10:16.982 --> 00:10:18.163 going to be then. 00:10:18.745 --> 00:10:20.125 And then it turned into exactly what you 00:10:20.166 --> 00:10:20.446 said. 00:10:20.947 --> 00:10:22.548 And it's not even always practices. 00:10:22.727 --> 00:10:24.309 Sometimes it's like you have great 00:10:24.350 --> 00:10:26.412 therapists working in a model that there's 00:10:26.491 --> 00:10:28.173 no possible way that they could do that 00:10:28.193 --> 00:10:29.575 because their hands are tied. 00:10:29.894 --> 00:10:31.395 so what you what we're really doing or 00:10:31.416 --> 00:10:32.456 what we're really talking about is 00:10:32.515 --> 00:10:34.657 expectations versus reality if you've 00:10:34.736 --> 00:10:36.677 never been to pt and you've only seen 00:10:36.736 --> 00:10:38.618 it on tv or heard it from a 00:10:38.677 --> 00:10:41.938 friend you're sort of expecting something 00:10:41.979 --> 00:10:43.399 like that you've heard and then when you 00:10:43.480 --> 00:10:45.841 get there if it isn't like that you 00:10:45.900 --> 00:10:48.100 might give it another chance or two but 00:10:48.140 --> 00:10:51.322 then we're humans and then we're gonna go 00:10:51.342 --> 00:10:53.283 i'm not feeling better and i've already 00:10:53.302 --> 00:10:54.884 invested time and effort and money 00:10:56.129 --> 00:10:57.870 And my expectation does not match my 00:10:57.910 --> 00:10:58.370 reality. 00:10:58.510 --> 00:10:59.532 Therefore, I leave. 00:10:59.852 --> 00:11:02.774 And that is such a human response. 00:11:03.216 --> 00:11:04.736 I was reading something yesterday where 00:11:04.756 --> 00:11:05.138 they said, 00:11:05.317 --> 00:11:08.360 if you launched a video game where seventy 00:11:08.400 --> 00:11:10.423 percent of the people played the game 00:11:10.462 --> 00:11:12.104 three times and then never played it 00:11:12.124 --> 00:11:13.525 again, would you blame the player? 00:11:15.322 --> 00:11:16.163 No, you blame the game. 00:11:16.623 --> 00:11:18.403 You'd say the game shocks have redesigned 00:11:18.423 --> 00:11:18.683 the game. 00:11:18.924 --> 00:11:19.804 But we love to go, 00:11:20.145 --> 00:11:21.687 no one does their home exercise plan. 00:11:22.086 --> 00:11:23.888 And I'm like, okay, same thing. 00:11:23.927 --> 00:11:26.129 If you developed a service, 00:11:26.690 --> 00:11:28.991 you sell pizzas and people try you three 00:11:29.032 --> 00:11:30.712 times and then they ghost you. 00:11:31.433 --> 00:11:33.816 I would start changing up who's cooking 00:11:33.836 --> 00:11:36.837 the pizzas or something or start looking 00:11:36.878 --> 00:11:37.638 at yourself a lot. 00:11:37.677 --> 00:11:39.919 And we in healthcare don't do that for 00:11:39.980 --> 00:11:41.421 some reason. 00:11:41.581 --> 00:11:42.422 I don't know why. 00:11:43.072 --> 00:11:45.673 obviously like it this is so we've talked 00:11:45.714 --> 00:11:46.794 about this a million times and it's like 00:11:46.855 --> 00:11:48.255 so challenging because a lot of this in 00:11:48.275 --> 00:11:50.238 my opinion goes back to payment 00:11:50.278 --> 00:11:53.640 reimbursement but it's also like let's do 00:11:53.660 --> 00:11:55.361 a quick exercise right so if you're in 00:11:55.381 --> 00:11:57.943 that busy type of a clinic and the 00:11:57.984 --> 00:11:59.926 patient you know jimmy's the patient and 00:11:59.966 --> 00:12:01.826 we're at upstate physical therapy just a 00:12:01.907 --> 00:12:03.749 fake you know acme physical therapy place 00:12:03.769 --> 00:12:06.910 up there and it's a network and jimmy 00:12:06.951 --> 00:12:09.232 has that experience like good like great 00:12:09.273 --> 00:12:09.793 first visit 00:12:11.354 --> 00:12:12.673 Second visit, good. 00:12:12.994 --> 00:12:16.054 Third visit, like below expectations. 00:12:16.134 --> 00:12:17.296 And now questioning, like, 00:12:17.316 --> 00:12:18.855 does this even make sense to continue to 00:12:18.895 --> 00:12:19.135 pay? 00:12:19.296 --> 00:12:21.876 And why would I drive here and park 00:12:22.017 --> 00:12:24.277 and pay a twenty to fifty dollar copay 00:12:24.597 --> 00:12:26.158 when I don't know what to expect? 00:12:26.618 --> 00:12:27.758 Take time out of work, 00:12:27.817 --> 00:12:29.158 get babysitting for the kids, 00:12:29.239 --> 00:12:29.818 whatever it is. 00:12:30.359 --> 00:12:31.259 Right now. 00:12:31.418 --> 00:12:33.299 Now, Jimmy, the patient is questioning, 00:12:33.340 --> 00:12:34.700 like, does this even make sense? 00:12:36.480 --> 00:12:36.660 And. 00:12:38.104 --> 00:12:39.787 yeah so it's it's a little bit on 00:12:39.807 --> 00:12:42.812 the therapist but they were hired and 00:12:42.852 --> 00:12:45.298 coached and trained or should have been on 00:12:45.317 --> 00:12:47.601 how to navigate whatever model they might 00:12:47.621 --> 00:12:47.881 be in 00:12:49.206 --> 00:12:53.070 So it's like part of the health insurance, 00:12:53.370 --> 00:12:55.272 you know, third party payers. 00:12:55.351 --> 00:12:56.832 But again, we know that's not changing. 00:12:57.192 --> 00:12:58.134 But right. 00:12:58.153 --> 00:12:59.434 Maybe it's also it's. 00:12:59.955 --> 00:13:00.174 Yeah. 00:13:00.215 --> 00:13:00.436 Well, no. 00:13:00.576 --> 00:13:00.755 Right. 00:13:01.817 --> 00:13:04.318 But then then you can say, OK, well, 00:13:04.599 --> 00:13:07.000 part of it is the payment reimbursement, 00:13:07.061 --> 00:13:08.601 which is like kind of one of like 00:13:08.902 --> 00:13:10.844 one or the main root causes of all 00:13:10.884 --> 00:13:12.164 this, this whole situation. 00:13:12.764 --> 00:13:14.306 But in like the day to day reality, 00:13:14.346 --> 00:13:15.706 it's like, OK, 00:13:15.787 --> 00:13:17.408 some blame maybe goes towards the 00:13:18.168 --> 00:13:19.629 a staff physical therapist or the front 00:13:19.649 --> 00:13:22.692 desk that's now on Jimmy's visit number 00:13:22.712 --> 00:13:23.974 three, it's a different therapist. 00:13:24.033 --> 00:13:26.456 And now Jimmy's got to explain everything 00:13:26.475 --> 00:13:27.956 all over again to a new therapist because 00:13:27.976 --> 00:13:29.619 they don't communicate because they're so 00:13:29.658 --> 00:13:29.918 busy, 00:13:29.958 --> 00:13:31.581 because there's so many patients per day 00:13:31.600 --> 00:13:32.280 and so many notes. 00:13:33.923 --> 00:13:34.763 So then you just like, OK, 00:13:34.783 --> 00:13:35.864 so there's a little maybe there's a little 00:13:35.903 --> 00:13:36.904 blame for the therapist. 00:13:37.085 --> 00:13:38.866 Maybe there's a little blame for the 00:13:39.027 --> 00:13:39.287 admin, 00:13:39.307 --> 00:13:41.149 the front desk or the clinic director, 00:13:41.229 --> 00:13:43.451 which is typically a physical therapist. 00:13:44.879 --> 00:13:46.260 But then for us, 00:13:46.542 --> 00:13:47.943 so I'm a practice owner, obviously. 00:13:48.083 --> 00:13:50.807 And like the buck stops with me. 00:13:50.927 --> 00:13:51.850 Like ultimately it's, 00:13:52.190 --> 00:13:55.235 if I own that upstate physical therapy 00:13:55.274 --> 00:13:57.477 practice that Jimmy's coming to, 00:13:57.577 --> 00:13:58.198 it's my fault. 00:13:58.558 --> 00:14:00.221 It's my fault because I am like, 00:14:01.697 --> 00:14:04.399 participating in that model I didn't uh 00:14:04.438 --> 00:14:07.298 coach or train my therapist well enough to 00:14:07.359 --> 00:14:10.100 navigate like the switching or the front 00:14:10.139 --> 00:14:12.360 desk and they didn't communicate it I mean 00:14:12.399 --> 00:14:14.780 where my first job dude in New Jersey 00:14:14.860 --> 00:14:18.100 sometimes like patients would be switched 00:14:18.181 --> 00:14:20.001 patients would get a confirmation over 00:14:20.042 --> 00:14:21.461 text or email about hey you're going to 00:14:21.481 --> 00:14:24.783 be seeing Dr Dave tomorrow and then they 00:14:24.802 --> 00:14:26.302 come and uh 00:14:27.344 --> 00:14:28.904 I was never sick, but like if I, 00:14:28.965 --> 00:14:29.965 if I got too busy or whatever, 00:14:29.985 --> 00:14:31.285 like sometimes it would be like moving 00:14:31.346 --> 00:14:34.147 patients off my schedule to like Nick, 00:14:34.187 --> 00:14:34.386 the PTA. 00:14:34.407 --> 00:14:36.668 And it's like, 00:14:37.347 --> 00:14:38.609 of course people don't like that. 00:14:38.708 --> 00:14:40.289 Like they got a notification that says it 00:14:40.309 --> 00:14:41.070 was going to be with Dave. 00:14:41.450 --> 00:14:41.909 Now the show of, 00:14:41.950 --> 00:14:43.171 and now it's with Nick that they don't 00:14:43.191 --> 00:14:45.011 know as much or don't know as well. 00:14:45.412 --> 00:14:46.011 Sure. 00:14:46.091 --> 00:14:46.292 I mean, 00:14:46.331 --> 00:14:48.133 no wonder that we have this chronic issue 00:14:48.253 --> 00:14:49.433 in like crappy, uh, 00:14:50.345 --> 00:14:52.787 delivery of the service like the product 00:14:52.807 --> 00:14:55.567 of physical therapy this is where and 00:14:55.587 --> 00:14:57.450 there's multiple arguments that happen 00:14:57.590 --> 00:14:58.850 we've seen them a hundred times they 00:14:58.889 --> 00:15:00.250 happen they go round and round in circles 00:15:00.270 --> 00:15:02.212 they go nowhere this is where people 00:15:02.253 --> 00:15:06.695 comparing pt to personal training it's 00:15:06.715 --> 00:15:08.275 where personal training like kind of gets 00:15:08.316 --> 00:15:11.378 it right a lot that's your trainer forever 00:15:11.719 --> 00:15:13.399 like how often does a personal trainer 00:15:13.460 --> 00:15:15.140 switch a client maybe in extreme 00:15:15.201 --> 00:15:16.682 circumstances i don't know i've never used 00:15:16.721 --> 00:15:18.342 a trainer i've used a coach before 00:15:19.437 --> 00:15:21.339 And I'm not re-explaining the last six 00:15:21.399 --> 00:15:22.799 months of what we've been doing or my 00:15:22.960 --> 00:15:26.283 weird isms that maybe my coach has never 00:15:26.322 --> 00:15:27.464 even explained to me before. 00:15:27.504 --> 00:15:28.804 Maybe he's just like, oh, I get Jimmy. 00:15:28.884 --> 00:15:31.047 I understand how he works. 00:15:31.167 --> 00:15:31.787 I pay the coach. 00:15:31.826 --> 00:15:32.548 I get the coach. 00:15:32.888 --> 00:15:35.910 But in healthcare, in PT specifically, 00:15:36.530 --> 00:15:39.352 that's not the case. 00:15:39.433 --> 00:15:41.154 I don't know the percentages of how often 00:15:41.174 --> 00:15:41.754 you see a different... 00:15:41.975 --> 00:15:43.496 That'd be a good stat to have if 00:15:43.517 --> 00:15:44.557 you had a large enough data set. 00:15:45.663 --> 00:15:47.724 How can, what's your, what's your, 00:15:48.105 --> 00:15:49.826 what's your clinician patient batting 00:15:49.885 --> 00:15:50.265 average? 00:15:51.067 --> 00:15:52.488 Like how often is it bang? 00:15:52.908 --> 00:15:53.148 You know, 00:15:53.187 --> 00:15:56.671 in baseball pitchers have a catcher. 00:15:57.490 --> 00:15:58.812 That catcher might not be a great hitter. 00:15:58.871 --> 00:15:59.732 Pitcher's like, I don't care. 00:15:59.972 --> 00:16:00.974 I like how he catches the game. 00:16:01.514 --> 00:16:03.254 So I'm out there for seven innings, 00:16:03.816 --> 00:16:04.355 maybe more, 00:16:04.395 --> 00:16:06.256 hopefully that's who's catching. 00:16:06.457 --> 00:16:07.498 And that's why, 00:16:07.938 --> 00:16:09.119 because we know each other. 00:16:09.159 --> 00:16:09.940 We understand. 00:16:09.960 --> 00:16:10.821 I don't have to say anything. 00:16:10.860 --> 00:16:11.900 I give him a look and he's like, 00:16:11.941 --> 00:16:12.642 don't wave me off. 00:16:13.432 --> 00:16:15.953 Why do you think in the in-network PT 00:16:15.974 --> 00:16:17.474 world, there's that switching? 00:16:18.154 --> 00:16:19.274 Oh, it's just, like you said, 00:16:19.315 --> 00:16:20.815 you have to pull the volume lever, 00:16:21.296 --> 00:16:24.035 or you've got three clinicians, 00:16:24.255 --> 00:16:25.836 thirty-three clinicians. 00:16:25.897 --> 00:16:26.517 Yes, and? 00:16:26.537 --> 00:16:28.697 Oh, am I missing something? 00:16:28.717 --> 00:16:30.018 I don't know. 00:16:30.217 --> 00:16:33.778 So, also, like, okay, Jimmy, 00:16:33.980 --> 00:16:35.340 if you're paying a twenty dollar copay, 00:16:36.876 --> 00:16:38.178 Like, 00:16:38.198 --> 00:16:40.041 I feel like there's some what's the word? 00:16:40.642 --> 00:16:41.982 I feel like there's some I don't want 00:16:42.003 --> 00:16:42.823 to say disrespect, 00:16:42.844 --> 00:16:45.788 but I feel like there's like we know, 00:16:45.888 --> 00:16:47.188 like if you're paying a twenty dollar 00:16:47.208 --> 00:16:49.211 copay and we're going to move you around 00:16:49.231 --> 00:16:51.313 to a different clinician on your way into 00:16:51.354 --> 00:16:51.674 the clinic, 00:16:51.695 --> 00:16:52.796 like you don't even know what's happening. 00:16:52.816 --> 00:16:53.657 All right. 00:16:55.070 --> 00:16:56.490 or that morning or whatever and you're 00:16:56.530 --> 00:16:58.192 busy so like you don't see the update 00:16:58.211 --> 00:16:59.352 or whatever and you're so you're still 00:16:59.373 --> 00:17:00.793 going to come and then you're like oh 00:17:00.833 --> 00:17:01.774 i thought i was with dave and now 00:17:01.793 --> 00:17:03.455 i'm with nick or mary or whatever i 00:17:03.475 --> 00:17:05.115 haven't met them before so now and now 00:17:05.155 --> 00:17:06.497 i got to explain everything again because 00:17:06.517 --> 00:17:08.397 you guys don't communicate because you're 00:17:08.417 --> 00:17:13.020 so busy um it happens way more in 00:17:13.141 --> 00:17:14.741 in network and it's like okay would you 00:17:14.761 --> 00:17:16.002 be just paying like a twenty dollar copay 00:17:16.083 --> 00:17:17.763 now can you imagine if we did that 00:17:17.784 --> 00:17:19.184 where someone's paying three fifty a visit 00:17:19.484 --> 00:17:22.547 right what's the difference expectation 00:17:23.452 --> 00:17:24.935 I paid for this and got that, 00:17:25.056 --> 00:17:26.138 and I don't like that. 00:17:26.179 --> 00:17:27.040 I feel flim-flammed. 00:17:27.963 --> 00:17:29.865 But it's like in these in network world, 00:17:30.665 --> 00:17:32.346 these front desks or this therapist or 00:17:32.386 --> 00:17:33.547 whoever are like, ah, 00:17:33.586 --> 00:17:34.728 we're just like moving around or whatever. 00:17:34.788 --> 00:17:35.788 Cause it's almost like, well, 00:17:35.828 --> 00:17:37.849 it's so you're paying so low out of 00:17:37.890 --> 00:17:38.210 pocket. 00:17:38.230 --> 00:17:40.431 You have minimal skin in the game. 00:17:40.451 --> 00:17:40.912 So it's kind of like, 00:17:40.932 --> 00:17:42.532 I'll just move them around wherever. 00:17:42.553 --> 00:17:43.032 And it's kind of, 00:17:43.053 --> 00:17:44.073 it's kind of disrespectful. 00:17:44.433 --> 00:17:44.614 Yeah. 00:17:44.653 --> 00:17:45.614 I have to solve a problem, 00:17:45.634 --> 00:17:49.356 which is like slots and providers, right? 00:17:49.376 --> 00:17:51.678 Like I, you know, this person's out. 00:17:51.738 --> 00:17:52.858 So I've got to do this today. 00:17:53.737 --> 00:17:55.699 It's not an easy problem. 00:17:56.378 --> 00:17:59.342 It's a volume problem because you've 00:17:59.382 --> 00:18:00.242 chosen volume. 00:18:01.023 --> 00:18:02.424 You've chosen volume as the thing that you 00:18:02.464 --> 00:18:02.986 have to do. 00:18:03.385 --> 00:18:04.826 Based on this thing, and again, 00:18:05.247 --> 00:18:06.488 I'm not trying to pimp it too hard, 00:18:06.508 --> 00:18:08.230 but Larry Benz is writing about this 00:18:08.250 --> 00:18:08.470 stuff. 00:18:08.490 --> 00:18:09.391 This invisible... 00:18:09.810 --> 00:18:11.231 The article he had this week was about 00:18:11.271 --> 00:18:11.451 this. 00:18:11.791 --> 00:18:13.334 Who's in the room with you when it's 00:18:13.354 --> 00:18:16.115 like clinician, patient, payer. 00:18:16.195 --> 00:18:16.836 They're in the room. 00:18:16.855 --> 00:18:17.616 They're in your brain. 00:18:17.676 --> 00:18:20.838 They're on your shoulder going, 00:18:20.858 --> 00:18:22.099 we're not going to reimburse for that. 00:18:22.119 --> 00:18:23.821 And then you change your... 00:18:23.862 --> 00:18:25.303 I want Larry to do a video set 00:18:25.323 --> 00:18:26.624 where there's a devil and an angel. 00:18:26.644 --> 00:18:27.044 The devil's like, 00:18:27.064 --> 00:18:28.925 we're not going to reimburse for that. 00:18:32.172 --> 00:18:36.715 So do you think it is some disrespect 00:18:36.955 --> 00:18:39.458 of or like the because the because the 00:18:39.478 --> 00:18:42.420 person is indirectly they're paying for it 00:18:42.440 --> 00:18:44.382 through their insurance premium. 00:18:44.422 --> 00:18:46.182 But in terms of that thing, 00:18:46.384 --> 00:18:48.444 I think it's I have if I'm a 00:18:48.484 --> 00:18:50.247 clinic director and I've got ten 00:18:50.267 --> 00:18:53.009 clinicians, why do I juggle people? 00:18:53.088 --> 00:18:55.090 Because I'm when I'm given a hammer, 00:18:55.151 --> 00:18:56.050 the world is full of nails. 00:18:56.090 --> 00:18:57.352 I have to move people around. 00:18:57.712 --> 00:18:59.094 What would the other option be? 00:19:00.083 --> 00:19:01.522 Cause my goal is I need to stay 00:19:01.542 --> 00:19:02.003 above water. 00:19:02.044 --> 00:19:03.763 So that person's got a slot for an 00:19:03.844 --> 00:19:06.085 eval or to see Jimmy again. 00:19:07.384 --> 00:19:07.585 Yeah. 00:19:07.664 --> 00:19:07.884 Yes. 00:19:07.924 --> 00:19:08.525 It's about volume. 00:19:08.565 --> 00:19:10.506 My point is, okay. 00:19:10.526 --> 00:19:13.105 So, so, um, Ben Boggy has a practice, 00:19:13.306 --> 00:19:14.626 a big location in San Diego. 00:19:14.666 --> 00:19:15.846 I think they have like eight or something 00:19:15.886 --> 00:19:16.487 therapists there. 00:19:16.946 --> 00:19:19.087 So probably, I mean, it's bigger and any, 00:19:19.248 --> 00:19:19.948 and they're doing really well. 00:19:19.968 --> 00:19:21.588 He's got multiple locations and it's all 00:19:21.628 --> 00:19:21.888 cash. 00:19:22.148 --> 00:19:22.469 It's like, 00:19:23.088 --> 00:19:24.249 I think they're charging around two fifty, 00:19:24.269 --> 00:19:25.230 three fifty per visit. 00:19:25.250 --> 00:19:26.289 They sell packages, whatever. 00:19:27.276 --> 00:19:28.356 If you were in San Diego, 00:19:28.396 --> 00:19:30.018 if you were a client, Jimmy, 00:19:30.238 --> 00:19:31.118 of this practice, 00:19:32.319 --> 00:19:35.301 they're not going to just switch providers 00:19:35.542 --> 00:19:37.324 on you in the five hours leading up 00:19:37.344 --> 00:19:38.644 to your visit and not tell you. 00:19:38.684 --> 00:19:40.425 And you come into the office and you're 00:19:40.465 --> 00:19:42.307 like surprised. 00:19:42.567 --> 00:19:45.911 And because part of it is you... 00:19:47.781 --> 00:19:48.323 Are more, 00:19:48.623 --> 00:19:49.924 I think part of it is you're more 00:19:49.964 --> 00:19:51.425 valuable because you ponied up a lot of 00:19:51.445 --> 00:19:54.068 this money out of pocket directly and they 00:19:54.088 --> 00:19:54.490 want to over, 00:19:54.769 --> 00:19:56.251 they want to over communicate like, Hey, 00:19:56.571 --> 00:19:58.213 listen, so-and-so is not available today. 00:19:58.273 --> 00:20:00.036 Do you want to just reschedule this for 00:20:00.056 --> 00:20:00.576 a different day? 00:20:00.676 --> 00:20:02.439 Or do you want to try a coverage 00:20:02.459 --> 00:20:03.760 visit with one of our other therapists? 00:20:03.800 --> 00:20:04.761 And here's their name, here's, 00:20:04.922 --> 00:20:06.022 here's their bio, all that. 00:20:06.864 --> 00:20:09.145 Because they make more per person so they 00:20:09.165 --> 00:20:10.507 can be... Right. 00:20:10.547 --> 00:20:11.867 So Ben's place, 00:20:11.948 --> 00:20:12.969 if you can use that example, 00:20:13.009 --> 00:20:16.090 is like I'm seeing eight a day versus 00:20:16.111 --> 00:20:17.672 another place I'm seeing sixteen. 00:20:17.731 --> 00:20:19.114 I'm just making those numbers up, right? 00:20:20.474 --> 00:20:22.336 It's not as easy to find a new 00:20:22.576 --> 00:20:24.837 slot when you're seeing sixteen, 00:20:25.458 --> 00:20:26.519 especially if that person's like, 00:20:26.638 --> 00:20:27.579 I need to be seen today. 00:20:27.660 --> 00:20:28.740 So there it is. 00:20:29.761 --> 00:20:32.564 It's you've chosen time or volume. 00:20:33.903 --> 00:20:35.163 And when you choose volume, 00:20:35.223 --> 00:20:37.286 there's less room because you've sold more 00:20:37.306 --> 00:20:40.388 of your time in smaller increments. 00:20:40.429 --> 00:20:43.071 So the volume part and then through 00:20:43.112 --> 00:20:44.833 in-network insurance, 00:20:45.713 --> 00:20:47.035 the practice is going to make less per 00:20:47.076 --> 00:20:48.616 visit and less per plan of care. 00:20:48.957 --> 00:20:50.739 So they're just forced. 00:20:50.759 --> 00:20:53.060 Their hands are tied. 00:20:53.080 --> 00:20:53.280 Right. 00:20:54.241 --> 00:20:54.502 Right. 00:20:54.883 --> 00:20:56.084 And they... 00:20:57.518 --> 00:21:00.159 Also know that there's it's just easier to 00:21:00.219 --> 00:21:00.538 fill that. 00:21:00.739 --> 00:21:00.939 Like, 00:21:00.979 --> 00:21:02.459 let's say Jimmy gets pissed off on that 00:21:02.479 --> 00:21:04.220 third visit and he's like, you know, 00:21:04.539 --> 00:21:04.819 I can't. 00:21:04.839 --> 00:21:05.559 And then he drops off, 00:21:05.599 --> 00:21:06.520 which happens all the time. 00:21:06.621 --> 00:21:07.161 I mean, it happens. 00:21:07.381 --> 00:21:09.080 We get some drop offs and we're not 00:21:09.101 --> 00:21:09.942 the right fit for everyone. 00:21:09.981 --> 00:21:12.761 But obviously it's way more in the network 00:21:12.782 --> 00:21:12.982 world. 00:21:13.002 --> 00:21:13.643 So then now Jimmy, 00:21:13.663 --> 00:21:15.682 the patient drops off visit number three 00:21:16.463 --> 00:21:17.463 in the network world. 00:21:17.503 --> 00:21:18.624 They don't care as much. 00:21:18.683 --> 00:21:20.045 Why do they not care as much? 00:21:20.085 --> 00:21:21.025 Thirty eight people behind me. 00:21:21.846 --> 00:21:22.266 Exactly. 00:21:22.326 --> 00:21:24.208 Because it's a low barrier to entry. 00:21:24.847 --> 00:21:25.567 It's in network. 00:21:25.868 --> 00:21:27.589 They accept a ton of insurances. 00:21:27.829 --> 00:21:28.670 There's always going to be the next 00:21:28.710 --> 00:21:28.869 person. 00:21:28.890 --> 00:21:30.270 All right, next person, step right up. 00:21:30.451 --> 00:21:31.412 You know, like McDonald's. 00:21:31.892 --> 00:21:32.853 Whereas a cash practice, 00:21:32.873 --> 00:21:35.835 it's like for us to convert somebody to 00:21:35.875 --> 00:21:37.415 then pay two fifty, 00:21:37.435 --> 00:21:39.017 three fifty per visit out of pocket or 00:21:39.057 --> 00:21:40.478 for the eval and then sell a package, 00:21:40.498 --> 00:21:40.857 whatever. 00:21:41.317 --> 00:21:43.259 Like the stakes are a little bit higher. 00:21:43.318 --> 00:21:44.160 I don't know how much higher, 00:21:44.180 --> 00:21:44.759 but they're higher. 00:21:45.221 --> 00:21:47.001 Do you estimate your customer acquisition 00:21:47.021 --> 00:21:47.382 costs? 00:21:48.907 --> 00:21:51.288 Yeah, I haven't updated it in a while. 00:21:52.109 --> 00:21:53.650 I would love to see yours. 00:21:53.890 --> 00:21:55.451 We can use AI. 00:21:56.050 --> 00:21:59.212 What would be average cash pay clinics 00:21:59.252 --> 00:22:01.153 customer acquisition cost versus an 00:22:01.673 --> 00:22:03.275 in-network customer acquisition cost? 00:22:03.934 --> 00:22:05.076 I would love to see the difference in 00:22:05.096 --> 00:22:05.336 that. 00:22:05.476 --> 00:22:05.675 I mean, 00:22:06.215 --> 00:22:07.936 my expectation is yours is way higher. 00:22:09.594 --> 00:22:10.114 Yeah, of course. 00:22:10.173 --> 00:22:13.355 So round figures, 00:22:13.536 --> 00:22:15.477 it used to be like a hundred dollars 00:22:15.557 --> 00:22:17.317 and sometimes it goes to above a hundred 00:22:17.336 --> 00:22:18.678 dollars and sometimes it goes down to like 00:22:18.718 --> 00:22:19.377 twenty six dollars. 00:22:19.417 --> 00:22:20.358 But in general, 00:22:20.398 --> 00:22:23.680 it's like it's like a hundred dollars cost 00:22:23.720 --> 00:22:26.340 per lead for someone to like either call 00:22:26.421 --> 00:22:27.902 in or write into our Web site. 00:22:28.882 --> 00:22:30.522 which is the lead just to get their 00:22:30.563 --> 00:22:31.343 contact information, 00:22:32.203 --> 00:22:34.384 not then the time and effort to call 00:22:34.424 --> 00:22:36.165 them and then convert them and then book 00:22:36.185 --> 00:22:37.605 them and then make sure that they show 00:22:37.665 --> 00:22:39.267 up or home visit or office visit or 00:22:39.287 --> 00:22:39.586 whatever. 00:22:40.107 --> 00:22:43.648 So acquisition cost is probably closer to 00:22:43.669 --> 00:22:46.230 like two hundred bucks. 00:22:46.269 --> 00:22:47.211 So you're breaking even, 00:22:47.671 --> 00:22:49.112 you're at least in the black on the 00:22:49.152 --> 00:22:50.673 first visit because you're like, 00:22:50.712 --> 00:22:51.732 I know what I charge, 00:22:51.792 --> 00:22:53.074 I know what it costs to get a 00:22:53.114 --> 00:22:53.473 patient 00:22:54.209 --> 00:22:55.790 Well, still a loss because of labor, 00:22:55.851 --> 00:22:56.030 right? 00:22:56.050 --> 00:22:57.813 So if you take away the acquisition costs 00:22:58.433 --> 00:23:00.896 and labor, then, but yeah, 00:23:01.057 --> 00:23:03.118 by visit two or three, there's profit, 00:23:03.159 --> 00:23:03.339 right? 00:23:03.359 --> 00:23:04.941 But the point is to be like 00:23:05.061 --> 00:23:05.902 over-delivering. 00:23:05.923 --> 00:23:07.904 That's why it's not falling off. 00:23:08.885 --> 00:23:09.306 Exactly. 00:23:09.326 --> 00:23:11.548 You just lost money on this experience. 00:23:12.410 --> 00:23:12.569 Yeah. 00:23:12.670 --> 00:23:13.912 That would be a great start to see. 00:23:14.970 --> 00:23:17.451 um okay so that was good that we 00:23:17.491 --> 00:23:18.913 talked about that i thought that one 00:23:18.953 --> 00:23:21.796 little screenshot says a lot and i think 00:23:21.816 --> 00:23:23.297 there's a lesson in there for people 00:23:23.597 --> 00:23:24.999 whether they want to learn it or not 00:23:25.398 --> 00:23:27.540 and i don't remember hearing that at all 00:23:27.560 --> 00:23:29.502 i'm not saying it doesn't happen but in 00:23:29.542 --> 00:23:32.204 pt school i don't it's not really the 00:23:32.244 --> 00:23:35.748 place for it but uh yeah now just 00:23:35.887 --> 00:23:37.750 just to close the loop on this if 00:23:37.769 --> 00:23:39.090 you're a cash practice owner out of 00:23:39.111 --> 00:23:41.272 network owner and you have people that 00:23:41.393 --> 00:23:42.334 balk at your pricing 00:23:43.483 --> 00:23:44.987 and they want to go in network or 00:23:45.007 --> 00:23:45.948 they want to go somewhere cheaper or 00:23:45.968 --> 00:23:47.911 whatever, feel free to take that text. 00:23:48.332 --> 00:23:50.134 You need to be texting or emailing that 00:23:50.234 --> 00:23:51.617 or saying it to them over the phone 00:23:51.698 --> 00:23:53.320 and then putting it in text or email 00:23:53.601 --> 00:23:55.324 so they have it digitally so that they 00:23:55.344 --> 00:23:56.425 can refer back to it later. 00:23:56.726 --> 00:23:56.865 Yeah. 00:23:57.662 --> 00:23:59.482 you absolutely need to be saying something 00:23:59.522 --> 00:24:01.624 like that because why are you different, 00:24:01.663 --> 00:24:01.864 right? 00:24:01.884 --> 00:24:02.744 You're going to say, oh, well, 00:24:02.805 --> 00:24:04.244 priority scheduling and all you have to do 00:24:04.306 --> 00:24:05.286 is text me to schedule. 00:24:05.566 --> 00:24:06.946 And if you want to go to upstate 00:24:06.967 --> 00:24:09.688 New York PT that takes your network 00:24:09.748 --> 00:24:10.828 insurance, that's fine. 00:24:10.848 --> 00:24:12.450 But then you got to like call in, 00:24:12.730 --> 00:24:14.270 you know, press one, press two, 00:24:14.750 --> 00:24:15.951 get the person on the phone. 00:24:16.152 --> 00:24:18.053 They're going to put you on hold, right? 00:24:18.093 --> 00:24:18.752 So it's just, 00:24:18.792 --> 00:24:20.713 there's just more resistance to the volume 00:24:20.753 --> 00:24:21.934 game and that's fine. 00:24:21.954 --> 00:24:23.335 But so you got to call out the 00:24:23.415 --> 00:24:25.757 things that you personally 00:24:26.696 --> 00:24:27.357 We talked about it before, 00:24:27.377 --> 00:24:28.278 like features and benefits. 00:24:28.298 --> 00:24:29.319 You got to call out the things of 00:24:29.339 --> 00:24:31.942 like what they get with you or the 00:24:32.042 --> 00:24:34.865 challenging potentially issue type things 00:24:35.246 --> 00:24:38.348 that they might experience if they go to 00:24:38.409 --> 00:24:39.190 one of your competitors. 00:24:39.210 --> 00:24:40.290 So you could say it in like a 00:24:40.351 --> 00:24:41.711 nice playing field kind of way, 00:24:42.452 --> 00:24:43.032 but call it out. 00:24:43.594 --> 00:24:44.273 I'm in upstate New York. 00:24:44.334 --> 00:24:46.395 I got one nice restaurant in my town. 00:24:46.557 --> 00:24:46.676 One. 00:24:47.699 --> 00:24:49.300 If I call and I go, hey, man, 00:24:49.320 --> 00:24:50.301 you got a reservation? 00:24:50.501 --> 00:24:51.363 And they're like, yeah. 00:24:51.502 --> 00:24:51.863 And I'm like, 00:24:52.463 --> 00:24:54.244 what's average cost of dinner? 00:24:54.345 --> 00:24:54.826 And they're like, 00:24:54.965 --> 00:24:56.067 eighty three dollars a person. 00:24:56.166 --> 00:24:56.968 I'm like, my man, 00:24:57.288 --> 00:24:58.449 I got McDonald's down the road. 00:24:58.469 --> 00:24:59.170 Why wouldn't I go there? 00:24:59.210 --> 00:25:01.192 They're going to go have at it and 00:25:01.231 --> 00:25:03.734 hang up because they understand what they 00:25:03.775 --> 00:25:04.154 provide. 00:25:04.595 --> 00:25:05.916 I need you to start thinking about that. 00:25:06.217 --> 00:25:07.979 It's McDonald's isn't bad. 00:25:09.005 --> 00:25:09.565 It's just different. 00:25:09.664 --> 00:25:12.067 Because after I play a beer league hockey 00:25:12.106 --> 00:25:13.907 game and we get out at midnight or 00:25:14.107 --> 00:25:14.689 one in the morning, 00:25:15.308 --> 00:25:16.250 that nice restaurant ain't open. 00:25:16.750 --> 00:25:17.411 And what am I doing? 00:25:17.451 --> 00:25:18.471 But I know what I'm getting. 00:25:18.971 --> 00:25:20.353 So understand that you know what you're 00:25:20.373 --> 00:25:20.633 getting. 00:25:21.413 --> 00:25:23.233 I want to change topics, but not really. 00:25:24.515 --> 00:25:25.796 This is another screenshot that you 00:25:25.816 --> 00:25:26.175 shared. 00:25:26.696 --> 00:25:28.198 So I'll put the stat on there. 00:25:29.246 --> 00:25:30.346 Gyms have a new third place. 00:25:31.046 --> 00:25:32.926 And I brought this up a couple weeks 00:25:32.967 --> 00:25:33.646 ago where I said, 00:25:33.686 --> 00:25:34.926 if I were opening a gym now and 00:25:34.967 --> 00:25:36.366 I gave the things that I would do 00:25:36.528 --> 00:25:40.127 outside of squat racks, dumbbells, 00:25:40.208 --> 00:25:40.768 treadmills, 00:25:41.848 --> 00:25:45.108 I would also have some things to make 00:25:45.169 --> 00:25:46.009 it a third place. 00:25:46.210 --> 00:25:47.369 And just for context, again, 00:25:47.410 --> 00:25:48.329 the third place is... 00:25:48.930 --> 00:25:49.950 The first place is home. 00:25:50.810 --> 00:25:51.750 Second place is work. 00:25:51.790 --> 00:25:53.351 And this is where you spend time or 00:25:53.391 --> 00:25:54.211 where you seek out. 00:25:55.451 --> 00:25:57.392 Bars used to be the third place. 00:25:58.467 --> 00:25:59.667 Still are, probably, right? 00:25:59.968 --> 00:26:02.509 And then which big company was trying to 00:26:02.529 --> 00:26:03.830 be the third place, let's say, 00:26:03.871 --> 00:26:05.133 in the last twenty years? 00:26:05.833 --> 00:26:06.993 Like a brick-and-mortar place? 00:26:08.295 --> 00:26:11.317 Which company was trying to be... No, 00:26:11.417 --> 00:26:12.798 that's digital. 00:26:13.378 --> 00:26:15.580 Which company was trying to be the third 00:26:15.641 --> 00:26:16.622 place? 00:26:16.642 --> 00:26:18.663 Do I know it? 00:26:18.743 --> 00:26:19.384 Is it a bar? 00:26:19.544 --> 00:26:20.424 No, it can't be a bar. 00:26:22.086 --> 00:26:22.727 Oh, Starbucks. 00:26:23.847 --> 00:26:24.367 Coffee shops. 00:26:25.509 --> 00:26:27.029 And that's the non-alcoholic 00:26:27.855 --> 00:26:29.557 open your laptop i remember in the 00:26:29.596 --> 00:26:32.398 beginning of like wi-fi in like businesses 00:26:32.778 --> 00:26:34.601 they'd never tell you the password or you 00:26:34.621 --> 00:26:36.682 have to buy something and now they're like 00:26:37.103 --> 00:26:40.244 it's like the bathroom code you gotta buy 00:26:40.285 --> 00:26:41.806 something for the bathroom the large 00:26:41.826 --> 00:26:44.047 cities don't understand the stress of the 00:26:44.086 --> 00:26:45.627 bathroom code you do you know that there's 00:26:45.667 --> 00:26:47.068 a secret you can go to like yelp 00:26:47.430 --> 00:26:48.369 if you ever want to get a bathroom 00:26:48.410 --> 00:26:50.211 code there will be heroes that will do 00:26:50.251 --> 00:26:51.593 yelp reviews and they'll put it 00:26:52.373 --> 00:26:54.034 in the in the album that's that's an 00:26:54.094 --> 00:26:56.795 aside so anyway this is the this is 00:26:56.815 --> 00:26:58.796 a graph showing and i gotta zoom in 00:26:58.855 --> 00:27:03.377 here number of us locations indexed from 00:27:03.577 --> 00:27:09.641 i'm trying to figure this graph out anyway 00:27:09.740 --> 00:27:11.781 it's showing gyms and studios fitness 00:27:11.801 --> 00:27:15.983 studios outpacing bars and nightclubs uh 00:27:16.183 --> 00:27:18.746 social clubs bowling alleys and movie 00:27:18.766 --> 00:27:19.105 theaters 00:27:20.403 --> 00:27:22.224 Bowling Alley says come hang out, 00:27:23.865 --> 00:27:24.965 but every minute you're there, 00:27:25.006 --> 00:27:25.586 you're paying. 00:27:26.866 --> 00:27:28.928 Like every game, you know what I mean? 00:27:28.988 --> 00:27:30.508 The meter is running, right? 00:27:30.528 --> 00:27:31.888 There's no one purchase. 00:27:32.489 --> 00:27:33.609 Unless you're the weird person who's 00:27:33.630 --> 00:27:34.970 hanging out at the Bowling Alley bar, 00:27:34.990 --> 00:27:35.490 but that's on you. 00:27:36.270 --> 00:27:38.111 Unless Bowling Alleys have a monthly 00:27:38.151 --> 00:27:38.551 membership. 00:27:38.592 --> 00:27:39.852 If they do, kudos to you guys. 00:27:39.971 --> 00:27:42.873 Which would be a killer idea, right? 00:27:42.893 --> 00:27:44.574 Movie, it's a transaction, 00:27:44.733 --> 00:27:45.615 and then get the hell out. 00:27:45.714 --> 00:27:47.154 Although when I was in high school or 00:27:47.194 --> 00:27:48.476 middle school, we'd pay for a movie. 00:27:52.659 --> 00:27:52.759 Yeah. 00:27:52.818 --> 00:27:52.979 Yeah. 00:27:53.019 --> 00:27:53.179 Yeah. 00:27:53.199 --> 00:27:53.500 Yeah. 00:27:53.519 --> 00:27:53.700 Yeah. 00:27:53.720 --> 00:27:53.920 Yeah. 00:27:53.940 --> 00:27:54.079 Yeah. 00:27:54.099 --> 00:27:54.200 Yeah. 00:27:54.220 --> 00:27:54.299 Yeah. 00:28:10.472 --> 00:28:12.394 It's not a small difference in terms of 00:28:12.433 --> 00:28:13.454 how many gyms and studios. 00:28:14.035 --> 00:28:15.375 So I wanted to talk about this because 00:28:15.395 --> 00:28:17.916 we also just announced that Orange Theory 00:28:17.936 --> 00:28:19.057 was closing locations. 00:28:19.157 --> 00:28:21.419 Nike tried to jump into the space and 00:28:21.519 --> 00:28:22.680 open their own gyms. 00:28:23.079 --> 00:28:25.801 And that was all pomp and no circumstance 00:28:25.842 --> 00:28:26.642 in less than a year. 00:28:26.701 --> 00:28:28.502 I think they're closing all of them. 00:28:28.722 --> 00:28:30.483 Essentially, it was a franchise model. 00:28:30.743 --> 00:28:31.605 Take our logo, 00:28:32.005 --> 00:28:34.105 build our own Nike version of Orange 00:28:34.125 --> 00:28:35.027 Theory or whatever. 00:28:35.446 --> 00:28:36.288 And it didn't work out. 00:28:36.307 --> 00:28:36.488 Why? 00:28:36.587 --> 00:28:36.847 Why? 00:28:37.853 --> 00:28:38.653 We can get into that. 00:28:39.554 --> 00:28:40.233 I've got a friend who... 00:28:40.374 --> 00:28:41.534 Did you ever meet Megan Brown? 00:28:42.934 --> 00:28:43.714 I can introduce you to her. 00:28:43.755 --> 00:28:45.015 You guys would get along famously. 00:28:45.435 --> 00:28:46.695 Megan Brown is a PT. 00:28:47.816 --> 00:28:49.217 She owns a fitness studio. 00:28:49.257 --> 00:28:51.336 She owns a Pilates and yoga business in 00:28:51.538 --> 00:28:52.357 Alexandria. 00:28:53.218 --> 00:28:54.578 So expensive zip code. 00:28:54.959 --> 00:28:56.358 Shadow of Washington, D.C. 00:28:56.679 --> 00:28:57.538 Three locations. 00:28:57.880 --> 00:28:59.099 She does four... 00:28:59.779 --> 00:29:01.000 I asked her three times if I had 00:29:01.020 --> 00:29:01.500 this number right. 00:29:01.861 --> 00:29:04.521 Four hundred classes a week across three 00:29:04.561 --> 00:29:05.001 locations. 00:29:06.957 --> 00:29:07.957 That's wild. 00:29:09.357 --> 00:29:10.038 Are you doing math? 00:29:10.077 --> 00:29:11.338 Because the math is wild. 00:29:11.679 --> 00:29:13.940 She's got multiple rooms at each location. 00:29:14.339 --> 00:29:14.720 Let's go. 00:29:14.779 --> 00:29:16.579 Four hundred divided by three locations 00:29:16.601 --> 00:29:18.101 would be one hundred and thirty three on 00:29:18.181 --> 00:29:19.481 average per week. 00:29:19.801 --> 00:29:21.342 She's open seven days or what? 00:29:21.382 --> 00:29:21.882 Seven days. 00:29:21.922 --> 00:29:26.183 Yeah, baby. 00:29:26.223 --> 00:29:26.864 How's that possible? 00:29:26.923 --> 00:29:28.724 Nineteen classes because she's got 00:29:28.845 --> 00:29:31.086 multiple she's got multiple rooms in each 00:29:31.145 --> 00:29:31.506 place. 00:29:32.866 --> 00:29:33.948 Well, and what's the class size? 00:29:34.188 --> 00:29:35.568 Do you know three to five or what? 00:29:35.608 --> 00:29:36.128 No, very. 00:29:36.189 --> 00:29:38.851 I mean, her class is like twenty thirty. 00:29:39.132 --> 00:29:41.772 Like she's got a frickin beast of a 00:29:41.813 --> 00:29:42.094 student. 00:29:42.134 --> 00:29:45.796 And it's Pilates class yoga so that you 00:29:45.816 --> 00:29:46.656 figure they're an hour. 00:29:49.380 --> 00:29:50.119 three locations, 00:29:50.881 --> 00:29:52.260 but do you know what she charges for 00:29:52.280 --> 00:29:52.701 classes? 00:29:53.020 --> 00:29:53.701 I'd be curious, 00:29:53.740 --> 00:29:54.842 but it's a membership model. 00:29:55.182 --> 00:29:56.981 And then you vie for, you've got a, 00:29:57.122 --> 00:29:58.343 Oh, you want to get in on this? 00:29:58.682 --> 00:29:59.103 Got it. 00:29:59.262 --> 00:30:01.002 Or this, I mean, it's the model, 00:30:01.282 --> 00:30:03.604 the difference between Megan and it's 00:30:03.624 --> 00:30:05.884 called it's a mind, mind to the mat. 00:30:06.325 --> 00:30:08.505 The difference between Megan and Nike, 00:30:08.644 --> 00:30:10.425 you would have said if you pit Nike 00:30:10.445 --> 00:30:11.726 against Megan Brown, 00:30:12.286 --> 00:30:13.366 this woman you've never heard of, 00:30:13.666 --> 00:30:14.586 you're like, well, Nike is going to win. 00:30:16.400 --> 00:30:17.882 Megan understands what business she's in, 00:30:18.143 --> 00:30:19.243 which is community. 00:30:19.644 --> 00:30:23.690 She walks in on a random Saturday dressed 00:30:23.730 --> 00:30:25.353 as Beyonce because it's Beyonce's 00:30:25.393 --> 00:30:25.952 birthday. 00:30:26.594 --> 00:30:28.096 And now you don't forget that for the 00:30:28.115 --> 00:30:29.699 rest of the week. 00:30:29.858 --> 00:30:31.080 She sells... 00:30:32.372 --> 00:30:32.791 community. 00:30:33.393 --> 00:30:35.134 So these two things sound like I'm just 00:30:35.153 --> 00:30:35.753 changing topics, 00:30:35.773 --> 00:30:37.335 but I'm really not because the question 00:30:37.375 --> 00:30:37.434 is, 00:30:37.674 --> 00:30:39.236 are you the third place and what are 00:30:39.256 --> 00:30:39.836 you offering? 00:30:40.175 --> 00:30:42.917 So Equinox isn't Nike, 00:30:42.938 --> 00:30:44.558 but they're kind of the Nike of gyms, 00:30:44.598 --> 00:30:46.819 or at least they're like the Goliath, 00:30:46.880 --> 00:30:47.019 right? 00:30:47.039 --> 00:30:49.221 They're trying to be the big highest end. 00:30:49.260 --> 00:30:50.422 If someone raised their prices, 00:30:50.461 --> 00:30:52.563 I bet you Equinox would raise their prices 00:30:52.603 --> 00:30:54.023 again just to be more expensive. 00:30:54.503 --> 00:30:56.565 But Equinox and the video that you shared 00:30:56.805 --> 00:30:58.326 as well that we found on Instagram was 00:30:58.346 --> 00:30:59.646 showing that people were spending... 00:31:00.508 --> 00:31:02.395 Is this an additional four thousand 00:31:02.415 --> 00:31:03.962 dollars a year on top of dues? 00:31:05.006 --> 00:31:06.507 Or is this total? 00:31:07.467 --> 00:31:08.688 No, it says total here. 00:31:08.728 --> 00:31:09.468 So, four K. 00:31:10.249 --> 00:31:11.769 Seventy percent of the four thousand per 00:31:11.809 --> 00:31:13.431 year is the dues. 00:31:13.530 --> 00:31:14.590 And then the thirty percent, 00:31:14.631 --> 00:31:17.153 it says personal training, spa services, 00:31:17.173 --> 00:31:20.394 which I guess are upsells, smoothies, 00:31:20.453 --> 00:31:22.055 you know, protein smoothies, whatever, 00:31:22.134 --> 00:31:23.895 snacks, whatever, other purchases. 00:31:23.935 --> 00:31:26.258 So, whatever, like T-shirts, towels, 00:31:26.298 --> 00:31:26.678 bottles, 00:31:26.998 --> 00:31:29.138 whatever merch or like protein bars. 00:31:29.159 --> 00:31:30.420 So, this is a good breakdown. 00:31:30.440 --> 00:31:31.259 See, the funny thing is, 00:31:31.279 --> 00:31:32.921 if you asked me before we put this 00:31:32.961 --> 00:31:33.662 stat on the screen, 00:31:34.622 --> 00:31:36.663 how expensive equinox was i would have 00:31:36.682 --> 00:31:38.384 been like really expensive but if you 00:31:38.423 --> 00:31:40.443 pushed me for a number per month i 00:31:40.463 --> 00:31:41.505 don't know i would have said i don't 00:31:41.525 --> 00:31:44.205 know eight hundred dollars six hundred 00:31:44.246 --> 00:31:46.946 dollars but when you say four thousand 00:31:46.987 --> 00:31:50.228 dollars a year and that's only seventy 00:31:50.268 --> 00:31:53.209 percent that number feels more palatable 00:31:53.308 --> 00:31:54.529 if i know i'm going to go 00:31:55.191 --> 00:31:55.771 Do you know what I mean? 00:31:57.053 --> 00:31:58.795 The X number of dollars a month feels 00:31:58.815 --> 00:32:00.375 like a poke in my ribs. 00:32:00.695 --> 00:32:01.938 But if you're like, four grand, 00:32:02.097 --> 00:32:03.038 you can come to Equinox, 00:32:03.499 --> 00:32:04.839 three hundred and sixty-five times, 00:32:05.540 --> 00:32:06.461 use everything you want, 00:32:06.602 --> 00:32:09.204 up to and including this, 00:32:09.684 --> 00:32:11.287 that number doesn't look ridiculous now to 00:32:11.326 --> 00:32:11.446 me. 00:32:11.886 --> 00:32:12.988 Especially if you live in New York or 00:32:13.008 --> 00:32:13.669 Chicago or LA. 00:32:13.689 --> 00:32:13.868 Yeah, 00:32:14.670 --> 00:32:16.412 it comes out to three hundred and 00:32:16.432 --> 00:32:17.413 thirty-three bucks a month. 00:32:17.913 --> 00:32:19.034 Seventy percent of four thousand? 00:32:19.114 --> 00:32:19.394 Obviously... 00:32:20.696 --> 00:32:20.876 No, no. 00:32:21.336 --> 00:32:21.616 I'm sorry. 00:32:21.676 --> 00:32:22.518 Four thousand total. 00:32:22.538 --> 00:32:23.897 So four thousand divided by twelve months. 00:32:23.917 --> 00:32:24.657 That's not even a lot. 00:32:25.097 --> 00:32:26.078 Three hundred and thirty three bucks a 00:32:26.118 --> 00:32:26.278 month. 00:32:26.318 --> 00:32:27.179 That's not a lot. 00:32:27.298 --> 00:32:28.719 It's less than a hundred bucks a week. 00:32:30.200 --> 00:32:31.220 Well, there's other people that are like, 00:32:31.240 --> 00:32:32.240 that's expensive, right? 00:32:32.339 --> 00:32:33.560 And it's like that's because there's 00:32:33.641 --> 00:32:34.621 different consumers out there. 00:32:34.641 --> 00:32:36.481 There's people that want to just spend 00:32:36.521 --> 00:32:37.102 like, you know, 00:32:37.201 --> 00:32:38.301 a hundred dollars a month or eighty 00:32:38.321 --> 00:32:38.821 dollars a month. 00:32:39.222 --> 00:32:39.843 And by the way, 00:32:40.042 --> 00:32:41.222 let me just shout out Tony Maritato 00:32:41.242 --> 00:32:42.242 because he's not here right now. 00:32:42.482 --> 00:32:43.544 But this is something that he would say. 00:32:43.584 --> 00:32:44.923 And he has said this a lot about 00:32:45.344 --> 00:32:47.164 physical therapy pricing, that it makes... 00:32:47.684 --> 00:32:48.984 It only makes sense to go one way 00:32:49.005 --> 00:32:49.365 or the other, 00:32:49.424 --> 00:32:50.925 meaning you take all the insurances the 00:32:50.945 --> 00:32:51.705 way that he does. 00:32:51.965 --> 00:32:52.746 He takes Medicare. 00:32:52.766 --> 00:32:54.286 He takes a lot of the network insurances. 00:32:54.767 --> 00:32:56.567 So this bell curve, 00:32:57.126 --> 00:32:58.487 he's on one side of the bell curve. 00:32:58.567 --> 00:32:59.367 I'm on the other side of the bell 00:32:59.387 --> 00:32:59.627 curve. 00:32:59.968 --> 00:33:01.708 And if you're in the middle trying to 00:33:01.748 --> 00:33:02.367 charge, you know, 00:33:02.847 --> 00:33:04.729 one twenty five per visit out of pocket 00:33:04.769 --> 00:33:05.989 and not take any insurances, 00:33:07.128 --> 00:33:08.549 you don't have the extra money for 00:33:08.609 --> 00:33:09.910 marketing and hiring and all that. 00:33:10.329 --> 00:33:12.931 But you have the sales resistance and the 00:33:12.971 --> 00:33:13.750 hurdle of 00:33:14.510 --> 00:33:16.752 trying to get yourself or others busy so 00:33:16.792 --> 00:33:19.615 he takes all the insurances uh and he's 00:33:19.816 --> 00:33:21.037 a little bit more volume based and we 00:33:21.176 --> 00:33:24.019 don't and so we're more boutique but we 00:33:24.058 --> 00:33:27.061 have higher margin and this same example 00:33:27.082 --> 00:33:28.823 for gyms or any health and wellness 00:33:28.843 --> 00:33:30.724 service right it only makes sense to be 00:33:30.765 --> 00:33:33.307 the planet the planet fitness that it's so 00:33:33.346 --> 00:33:35.008 cheap that people don't come and if they 00:33:35.028 --> 00:33:37.210 do come it's pizza fridays or whatever you 00:33:37.230 --> 00:33:38.391 know eat a bagel while you're doing it 00:33:38.411 --> 00:33:39.071 like press like 00:33:39.372 --> 00:33:41.333 whatever, like they spit, you know, 00:33:41.353 --> 00:33:42.213 the lunk alarm. 00:33:43.575 --> 00:33:45.055 They got rid of like the heavier weights. 00:33:45.115 --> 00:33:46.855 They don't want any bodybuilders there. 00:33:47.037 --> 00:33:49.798 Like it's a genius model of ninety two 00:33:49.817 --> 00:33:51.459 percent of people at Planet Fitness do not 00:33:51.499 --> 00:33:51.719 come. 00:33:51.739 --> 00:33:52.700 They pay ten, 00:33:52.759 --> 00:33:53.941 twenty whatever dollars a month. 00:33:54.840 --> 00:33:58.323 And they don't use it in general because 00:33:58.343 --> 00:33:59.544 they knew that the bodybuilders and the 00:33:59.584 --> 00:34:01.305 people that exercise a lot wear out the 00:34:01.325 --> 00:34:03.926 equipment faster and then they have to pay 00:34:03.946 --> 00:34:05.326 for more equipment. 00:34:05.346 --> 00:34:05.847 Take up room. 00:34:06.488 --> 00:34:07.729 And so they got rid of the people 00:34:07.749 --> 00:34:10.230 that they literally made a model to get 00:34:10.269 --> 00:34:12.291 rid of the people that actually use the 00:34:12.311 --> 00:34:13.271 gym, which is insane. 00:34:13.873 --> 00:34:15.873 So now Equinox is the opposite. 00:34:15.914 --> 00:34:16.994 So it's like they know their people are 00:34:17.014 --> 00:34:17.994 going to use the equipment. 00:34:18.715 --> 00:34:20.056 They got to keep the facility clean 00:34:20.076 --> 00:34:20.817 because it's premium. 00:34:20.856 --> 00:34:22.117 So they got to charge a premium rate. 00:34:22.717 --> 00:34:23.998 The floor is premium. 00:34:24.059 --> 00:34:24.199 The 00:34:25.405 --> 00:34:27.148 The equipment is premium, the locker room, 00:34:27.168 --> 00:34:28.550 the amenities, all that type of stuff. 00:34:28.610 --> 00:34:30.552 And so you got to go one way 00:34:30.572 --> 00:34:30.952 or the other. 00:34:31.233 --> 00:34:32.253 So it makes no sense to have a 00:34:32.293 --> 00:34:35.858 gym that charges a hundred dollars a month 00:34:35.938 --> 00:34:36.739 or whatever, you know, 00:34:36.818 --> 00:34:38.740 it's like a one fifty or something like 00:34:38.760 --> 00:34:40.943 you got to be like low end or 00:34:41.003 --> 00:34:41.563 high end. 00:34:42.023 --> 00:34:43.326 Otherwise you're going to get squeezed. 00:34:43.485 --> 00:34:43.646 Yep. 00:34:44.608 --> 00:34:46.449 Tony, you brought up Tony. 00:34:46.668 --> 00:34:47.268 He then... 00:34:47.568 --> 00:34:50.090 So his brick and mortar business model is 00:34:50.789 --> 00:34:53.951 more probably aligned to Planet Fitness. 00:34:54.331 --> 00:34:55.931 But then while he's there, he's like, 00:34:56.090 --> 00:34:58.911 I'm going to be the high end of 00:34:59.012 --> 00:35:00.012 my clinical brain. 00:35:00.192 --> 00:35:00.612 And he goes, 00:35:01.793 --> 00:35:02.972 if you're an equipment company, 00:35:03.012 --> 00:35:04.052 I'll make a video for you. 00:35:04.092 --> 00:35:04.673 Five hundred bucks. 00:35:05.614 --> 00:35:05.914 And he's like, 00:35:05.934 --> 00:35:07.333 I'm going to make five hundred bucks in 00:35:07.454 --> 00:35:09.635 twenty two minutes stitching together a 00:35:09.655 --> 00:35:10.054 video. 00:35:10.675 --> 00:35:12.695 And that transaction is done. 00:35:13.717 --> 00:35:15.018 he's on a different side of the bell 00:35:15.057 --> 00:35:17.458 curve for different audiences. 00:35:17.498 --> 00:35:18.460 Yep. 00:35:18.599 --> 00:35:20.420 And we in healthcare can't get away with 00:35:20.440 --> 00:35:20.641 that. 00:35:20.701 --> 00:35:22.181 We're like, I need to be cheap. 00:35:22.222 --> 00:35:23.422 So I'm available to everybody. 00:35:23.943 --> 00:35:24.222 Okay. 00:35:24.362 --> 00:35:26.364 But then you're cheap and you can't offer 00:35:26.864 --> 00:35:27.644 some of those things. 00:35:27.905 --> 00:35:29.485 You can be different things to different 00:35:29.527 --> 00:35:30.007 audiences. 00:35:30.347 --> 00:35:31.907 Look at car companies, right? 00:35:33.724 --> 00:35:35.304 Scion, Toyota, Lexus. 00:35:35.565 --> 00:35:36.925 I got a buddy who's a former Toyota 00:35:36.945 --> 00:35:37.306 mechanic. 00:35:37.326 --> 00:35:37.606 He's like, 00:35:38.226 --> 00:35:40.027 there are differences between the Scion 00:35:40.088 --> 00:35:40.628 and the Lexus. 00:35:40.648 --> 00:35:41.028 But he's like, 00:35:41.108 --> 00:35:42.750 a lot of the parts are interchangeable. 00:35:43.190 --> 00:35:44.911 You're buying... Yeah, the leather seats. 00:35:44.931 --> 00:35:45.291 You don't have a... 00:35:45.791 --> 00:35:47.353 They don't even make Scion anymore. 00:35:48.094 --> 00:35:49.974 You don't even have... I don't know. 00:35:50.114 --> 00:35:51.456 You don't have the leather in the low 00:35:51.615 --> 00:35:51.916 end. 00:35:51.956 --> 00:35:52.836 You have it in the high end. 00:35:52.856 --> 00:35:54.297 But you're paying for that difference. 00:35:54.338 --> 00:35:55.679 But there is some crossover. 00:35:56.059 --> 00:35:56.820 So you can do that. 00:35:57.380 --> 00:35:59.702 So I do like this graphic too. 00:35:59.802 --> 00:36:00.842 So the first one was... 00:36:02.121 --> 00:36:04.143 Equinox member spending, 00:36:04.344 --> 00:36:06.184 average Equinox members dropping four 00:36:06.224 --> 00:36:06.744 grand a year. 00:36:07.286 --> 00:36:08.385 Again, as I say that, 00:36:08.427 --> 00:36:10.208 that does not feel a lot because I 00:36:10.268 --> 00:36:12.289 like to move and I would appreciate that. 00:36:12.989 --> 00:36:14.090 This is the extra one. 00:36:14.431 --> 00:36:15.632 In five years, 00:36:16.192 --> 00:36:19.373 they don't need to get more people per 00:36:19.414 --> 00:36:20.094 location. 00:36:21.273 --> 00:36:23.976 They're expected to now net in five years, 00:36:24.297 --> 00:36:27.240 six thousand dollars per member per year. 00:36:27.780 --> 00:36:29.242 How do you think they'll do that? 00:36:29.523 --> 00:36:31.925 Just offer different things or raise their 00:36:32.005 --> 00:36:32.306 rates? 00:36:32.326 --> 00:36:32.746 I mean, 00:36:32.766 --> 00:36:34.547 the dollar is also losing value every day, 00:36:34.588 --> 00:36:34.728 so. 00:36:36.983 --> 00:36:37.182 I mean, 00:36:37.322 --> 00:36:39.423 raising their rates is going to be the 00:36:39.443 --> 00:36:39.884 biggest thing. 00:36:40.143 --> 00:36:41.043 I'm sure they're going to add other 00:36:41.063 --> 00:36:41.623 things, too. 00:36:42.623 --> 00:36:43.804 And if you got to think about it, 00:36:43.844 --> 00:36:48.286 they had also recently added some forty 00:36:48.306 --> 00:36:49.005 thousand dollar. 00:36:49.045 --> 00:36:50.626 And then this is only for like executives 00:36:50.666 --> 00:36:51.427 or people that can afford it. 00:36:51.447 --> 00:36:53.947 But Equinox added recently like a forty 00:36:53.967 --> 00:36:55.288 thousand dollar, like longevity, 00:36:55.347 --> 00:36:56.148 something, you know, 00:36:56.168 --> 00:36:58.228 they'll take your blood and, you know, 00:36:58.268 --> 00:37:00.369 get a physician to look at it or 00:37:00.389 --> 00:37:02.068 like a nurse or something up your butt. 00:37:02.128 --> 00:37:02.648 Look at this. 00:37:02.889 --> 00:37:04.269 Look at your butt. 00:37:04.289 --> 00:37:04.610 Look at this. 00:37:07.210 --> 00:37:11.811 yeah so so if they made projections based 00:37:11.851 --> 00:37:13.072 off of that so like the people that 00:37:13.092 --> 00:37:16.431 spend forty K plus the four grand for 00:37:16.452 --> 00:37:17.713 so they're playing they're paying forty 00:37:17.753 --> 00:37:20.112 four grand a year and if you take 00:37:20.253 --> 00:37:22.054 enough of those people but you divide it 00:37:22.114 --> 00:37:24.653 over all your members does that result in 00:37:24.673 --> 00:37:26.775 the boost to go you know faster route 00:37:26.815 --> 00:37:28.635 to go from four thousand per year spend 00:37:28.655 --> 00:37:31.476 to six thousand per year spend maybe um 00:37:32.856 --> 00:37:34.838 So what's the difference between to go 00:37:34.858 --> 00:37:37.481 from four grand a year to six grand 00:37:37.501 --> 00:37:37.721 a year? 00:37:37.820 --> 00:37:39.862 Am I doing this properly? 00:37:39.882 --> 00:37:43.206 Is it like a sixty-seven percent increase 00:37:43.585 --> 00:37:44.206 in five years? 00:37:44.686 --> 00:37:45.568 It's a third. 00:37:46.646 --> 00:37:48.068 it's a third sort of thirty three percent 00:37:48.088 --> 00:37:51.150 increase because you're doing two with two 00:37:51.210 --> 00:37:53.311 math geniuses doing it today oh yeah so 00:37:53.391 --> 00:37:55.193 so two two back yeah two x would 00:37:55.213 --> 00:37:56.713 be eight two x would be eight thousand 00:37:56.733 --> 00:37:58.054 dollars per year so six grand per year 00:37:58.655 --> 00:38:00.757 so how yeah how else i mean the 00:38:00.797 --> 00:38:03.039 easiest lever is to raise rates but again 00:38:03.179 --> 00:38:06.481 you typically need to offer sometimes 00:38:06.880 --> 00:38:09.043 offer more or something different to 00:38:09.083 --> 00:38:11.505 justify why you're raising rates but cam 00:38:11.525 --> 00:38:11.744 needed 00:38:16.023 --> 00:38:17.385 You never, you never know. 00:38:17.644 --> 00:38:18.706 I mean, I was going to say, 00:38:18.726 --> 00:38:19.726 you never know what we're going to say. 00:38:19.766 --> 00:38:20.126 You never know. 00:38:20.166 --> 00:38:20.525 You never know. 00:38:20.686 --> 00:38:21.766 You never know what Jimmy's going to say 00:38:21.786 --> 00:38:22.186 here live. 00:38:22.347 --> 00:38:23.748 But Cam, um, 00:38:24.648 --> 00:38:26.789 this is where I like Alex Hormozy. 00:38:26.829 --> 00:38:28.510 Some of his stuff gets a little too 00:38:29.610 --> 00:38:31.070 flippant, but like, he's like, 00:38:31.090 --> 00:38:32.371 there's three ways to make money. 00:38:33.682 --> 00:38:34.483 Let me see if I can not screw 00:38:34.503 --> 00:38:34.804 this up. 00:38:35.103 --> 00:38:37.065 Find more people. 00:38:37.105 --> 00:38:38.485 Get more people to come to your business. 00:38:38.565 --> 00:38:39.445 So Equinox is like, 00:38:39.485 --> 00:38:40.626 we don't want more people because then we 00:38:40.646 --> 00:38:41.347 got to do more stuff. 00:38:41.686 --> 00:38:42.867 So find more people. 00:38:44.068 --> 00:38:46.188 Get those people who pay you to come 00:38:46.208 --> 00:38:48.751 back more often. 00:38:48.831 --> 00:38:49.530 A gym model, 00:38:49.570 --> 00:38:50.572 you actually don't want them to come back 00:38:50.592 --> 00:38:50.972 more often, 00:38:50.992 --> 00:38:51.992 but you want them to buy more things 00:38:52.391 --> 00:38:54.052 or sell them different things. 00:38:55.594 --> 00:38:56.313 Those are the three things. 00:38:56.353 --> 00:38:57.195 Those are the three ways. 00:38:57.315 --> 00:38:58.114 And if you can come up with a 00:38:58.155 --> 00:38:58.715 fourth way, 00:38:59.135 --> 00:39:00.155 you're going to be a bajillionaire. 00:39:00.356 --> 00:39:01.496 But those are the three ways. 00:39:02.903 --> 00:39:04.646 And we do pay attention to that, 00:39:04.666 --> 00:39:06.106 but we like to just sell people more 00:39:06.186 --> 00:39:06.586 visits. 00:39:06.626 --> 00:39:08.168 And I'm like, visits ain't it. 00:39:08.208 --> 00:39:09.148 That's a race to the bottom. 00:39:09.489 --> 00:39:10.610 Or that's the model you want to be 00:39:10.670 --> 00:39:10.771 in. 00:39:11.612 --> 00:39:12.092 That's fine. 00:39:12.853 --> 00:39:13.693 That is fine. 00:39:13.813 --> 00:39:16.195 I think I started by saying that if 00:39:16.255 --> 00:39:17.016 that is your model, 00:39:17.076 --> 00:39:19.858 that is one hundred percent OK. 00:39:19.898 --> 00:39:21.940 But just understand what game you're 00:39:21.960 --> 00:39:23.822 gaming, what game you're in. 00:39:23.862 --> 00:39:25.784 So Iron Man. 00:39:26.969 --> 00:39:28.389 Not the comic book character, 00:39:28.469 --> 00:39:30.831 the corporation that is around triathlon. 00:39:31.413 --> 00:39:32.572 They did something similar. 00:39:32.893 --> 00:39:34.735 Like where Equinox has like an executive 00:39:34.775 --> 00:39:35.195 program, 00:39:35.536 --> 00:39:36.976 Ironman started doing this about ten years 00:39:36.996 --> 00:39:39.219 ago, which is like, we'll give you... 00:39:40.018 --> 00:39:42.240 Are you a CEO making more than two 00:39:42.260 --> 00:39:43.382 hundred grand a year that wants to be 00:39:43.422 --> 00:39:43.981 an Ironman? 00:39:44.382 --> 00:39:45.242 And everybody's like, yes. 00:39:45.443 --> 00:39:46.844 Then you do Ironman Elite. 00:39:47.184 --> 00:39:49.427 And you got, for more money per race, 00:39:49.447 --> 00:39:50.927 you got into races that were closed. 00:39:50.947 --> 00:39:51.068 Access. 00:39:51.208 --> 00:39:51.648 Access. 00:39:52.842 --> 00:39:54.943 You start closer to the front. 00:39:55.945 --> 00:39:56.465 Access. 00:39:58.025 --> 00:40:00.266 Status. 00:40:00.306 --> 00:40:02.228 You have a different badge or whatever. 00:40:02.248 --> 00:40:04.809 Or if you complete three executive races, 00:40:04.849 --> 00:40:05.889 you get an extra badge. 00:40:06.050 --> 00:40:06.670 Badge value. 00:40:07.791 --> 00:40:08.871 You become triple exec. 00:40:09.391 --> 00:40:10.833 Triple Iron Man. 00:40:10.913 --> 00:40:12.594 You're a war machine, right? 00:40:14.114 --> 00:40:15.815 But they understood what they were selling 00:40:15.835 --> 00:40:17.956 because what Iron Man realized was 00:40:18.927 --> 00:40:20.148 If we do Ironman, 00:40:20.429 --> 00:40:21.911 they have done Ironman in New York City, 00:40:22.132 --> 00:40:23.873 which was, I heard, a debacle. 00:40:26.016 --> 00:40:27.898 We can only put about three thousand 00:40:27.978 --> 00:40:30.681 athletes and make it a good experience, 00:40:31.141 --> 00:40:32.202 safe experience. 00:40:33.313 --> 00:40:33.954 For a race. 00:40:34.394 --> 00:40:35.476 Well, how can we make more money? 00:40:35.655 --> 00:40:36.657 Do more races? 00:40:36.936 --> 00:40:38.458 Those are logistically nightmares. 00:40:38.898 --> 00:40:39.619 So they're just like, 00:40:39.719 --> 00:40:41.141 how do we get more money out of 00:40:41.181 --> 00:40:41.782 each athlete? 00:40:42.041 --> 00:40:43.262 They understood what game they were in. 00:40:43.543 --> 00:40:43.663 Now, 00:40:43.702 --> 00:40:45.364 they faced a lot of backlash because the 00:40:45.425 --> 00:40:45.804 true, 00:40:46.106 --> 00:40:48.427 the middle of the bell curve triathletes 00:40:48.847 --> 00:40:50.068 were looking at the executives and they 00:40:50.088 --> 00:40:51.530 were like, who are these rich douchebags? 00:40:52.891 --> 00:40:53.972 The thing I used to have to... Oh, 00:40:53.992 --> 00:40:55.914 you could buy your way into certain races 00:40:56.394 --> 00:40:57.715 that you used to have to earn your 00:40:57.755 --> 00:40:58.597 way into. 00:40:58.657 --> 00:40:58.777 Yeah. 00:40:58.936 --> 00:40:59.777 And people were like, dude, 00:40:59.818 --> 00:41:01.338 I just busted my ass for a decade 00:41:01.378 --> 00:41:02.320 becoming a great athlete. 00:41:02.340 --> 00:41:04.961 But Johnny's CEO could pay for it. 00:41:04.981 --> 00:41:06.543 It's like, well, they're the company. 00:41:06.664 --> 00:41:06.903 Yeah, 00:41:07.003 --> 00:41:08.385 they let people buy their way into it. 00:41:10.246 --> 00:41:13.309 Will there be a healthcare company who 00:41:13.389 --> 00:41:14.530 understands this? 00:41:15.210 --> 00:41:16.210 Let's screw healthcare. 00:41:16.452 --> 00:41:18.193 Will there be a PT organization that 00:41:18.213 --> 00:41:21.034 understands this in the next five years 00:41:21.476 --> 00:41:22.996 and does more Equinox? 00:41:23.717 --> 00:41:24.538 Do you think they will? 00:41:25.039 --> 00:41:26.320 I would love for someone to do it. 00:41:26.739 --> 00:41:27.641 Do you think someone will? 00:41:28.222 --> 00:41:29.483 Well, when you say do what, 00:41:29.523 --> 00:41:31.226 you mean have that type of a spend 00:41:31.266 --> 00:41:31.867 per person? 00:41:31.947 --> 00:41:33.148 Or what do you mean specifically? 00:41:33.208 --> 00:41:34.289 Yeah, that's probably good. 00:41:34.309 --> 00:41:37.112 That wasn't a good question. 00:41:37.231 --> 00:41:38.632 It was in my head. 00:41:38.672 --> 00:41:39.773 What I mean is, 00:41:39.934 --> 00:41:42.056 will there be an organization, 00:41:42.577 --> 00:41:44.579 a physical therapy first organization, 00:41:44.998 --> 00:41:47.101 who will lean into the membership model 00:41:47.842 --> 00:41:50.644 and offer, we are the third place? 00:41:50.664 --> 00:41:51.925 Because that's how we started this 00:41:51.965 --> 00:41:52.527 conversation. 00:41:53.672 --> 00:41:55.673 I feel like PT or a PT first 00:41:55.713 --> 00:41:58.277 organ... Megan Brown is a PT clinic, 00:41:58.317 --> 00:42:00.398 but she's not. 00:42:00.418 --> 00:42:02.239 She's smart enough to not put PT on 00:42:02.260 --> 00:42:04.202 her sign because she knows what she sells. 00:42:04.422 --> 00:42:05.724 Community, third place. 00:42:06.545 --> 00:42:09.947 People die to get into her clinic, right? 00:42:10.047 --> 00:42:12.230 Is it possible for a physical therapy 00:42:12.710 --> 00:42:16.213 organization to do that model and survive? 00:42:18.034 --> 00:42:20.757 With program packages of like, 00:42:20.836 --> 00:42:23.038 I've heard more and more PTs talking about 00:42:23.119 --> 00:42:24.599 like, they'll do an evaluation. 00:42:24.739 --> 00:42:25.559 They charge you whatever, 00:42:26.021 --> 00:42:27.201 two hundred bucks, three hundred bucks, 00:42:27.221 --> 00:42:28.601 whatever, hundred fifty, whatever. 00:42:29.242 --> 00:42:30.623 And then they sell you like a three 00:42:30.664 --> 00:42:31.784 month program for your 00:42:32.978 --> 00:42:34.458 issue but that's still the one-on-one 00:42:34.478 --> 00:42:36.239 treatment so it's not and that's just you 00:42:36.260 --> 00:42:38.661 come a third place as i show up 00:42:38.681 --> 00:42:41.563 whenever i'm lonely teresa's saying she 00:42:41.583 --> 00:42:43.123 will at wish clinic soon that's her goal 00:42:43.603 --> 00:42:46.646 good wish clinic is a killer name by 00:42:46.666 --> 00:42:49.447 the way like genius i do i teresa 00:42:49.467 --> 00:42:52.369 do you have wishclinic.com or is it like 00:42:52.389 --> 00:42:54.050 she's gonna have to pay she's got to 00:42:54.090 --> 00:42:55.331 buy it for me in a minute because 00:42:55.351 --> 00:42:55.550 i'm gonna 00:42:56.586 --> 00:42:57.007 Or she's like, 00:42:57.126 --> 00:42:58.068 I wish I could get it. 00:42:58.248 --> 00:42:58.708 I wish. 00:42:58.728 --> 00:43:00.550 I used to have wish sandwiches when I 00:43:00.570 --> 00:43:00.969 was younger. 00:43:01.391 --> 00:43:02.771 You just wish there was some stuff between 00:43:02.791 --> 00:43:03.052 the bread. 00:43:03.092 --> 00:43:03.851 That was me in college. 00:43:06.094 --> 00:43:08.315 Because a package is not Equinox. 00:43:08.556 --> 00:43:09.195 Think about that. 00:43:09.215 --> 00:43:10.637 Would you ever go to Equinox and buy 00:43:10.717 --> 00:43:13.139 ten walk-ins? 00:43:13.760 --> 00:43:13.960 No. 00:43:14.661 --> 00:43:15.780 Equinox probably wouldn't let you do it. 00:43:16.342 --> 00:43:18.463 What they would do is run a credit 00:43:18.483 --> 00:43:19.844 check, see what you make, and go, 00:43:19.923 --> 00:43:21.244 we'll let you come for free today because 00:43:21.264 --> 00:43:23.106 we know what we are. 00:43:23.407 --> 00:43:24.568 Here's a good comparison, right? 00:43:25.148 --> 00:43:25.347 So 00:43:27.643 --> 00:43:29.545 Even in the cash physical therapy world, 00:43:29.804 --> 00:43:31.806 so there's the one-on-one treatment. 00:43:32.166 --> 00:43:34.289 That resembles the Equinox personal 00:43:34.329 --> 00:43:35.009 training offering. 00:43:35.028 --> 00:43:36.570 Correct. 00:43:36.911 --> 00:43:37.731 You're asking, 00:43:39.572 --> 00:43:41.914 will people pay a membership to go to 00:43:41.934 --> 00:43:43.335 a physical therapy practice like... 00:43:45.324 --> 00:43:47.987 megan brown's place so she she sounds like 00:43:48.047 --> 00:43:50.427 she had she had she has the infrastructure 00:43:50.789 --> 00:43:53.891 to sell the membership but then the if 00:43:53.951 --> 00:43:55.532 someone had wants the one-on-one attention 00:43:55.552 --> 00:43:57.353 and time or has an issue now it's 00:43:57.432 --> 00:43:59.213 one-on-one physical therapy she's going in 00:43:59.233 --> 00:44:01.456 a different direction so like the pt 00:44:01.476 --> 00:44:03.217 clinic it's a transaction you come in you 00:44:03.237 --> 00:44:04.538 go into a small room or you walk 00:44:04.577 --> 00:44:06.318 into our gym but there's it's a guided 00:44:06.679 --> 00:44:09.181 megan's like you come in megan treats 00:44:09.240 --> 00:44:11.501 twenty-eight people at the at a time that 00:44:11.561 --> 00:44:11.882 math 00:44:12.762 --> 00:44:14.826 And no one's mad about it because it's 00:44:14.846 --> 00:44:15.405 a class. 00:44:15.987 --> 00:44:17.829 But you get her eyes only when she 00:44:17.849 --> 00:44:18.769 needs you or you're like, hey, 00:44:18.789 --> 00:44:20.210 look at my downward dog. 00:44:20.251 --> 00:44:20.831 How's that doing? 00:44:20.851 --> 00:44:21.873 And she's like, move your butt, 00:44:22.032 --> 00:44:22.534 move your leg. 00:44:23.976 --> 00:44:26.518 The expectation walking in is not Megan 00:44:26.538 --> 00:44:27.458 and you for an hour. 00:44:27.940 --> 00:44:29.081 It's I'm part of this. 00:44:29.320 --> 00:44:30.922 So Megan goes in a different direction 00:44:31.264 --> 00:44:31.903 that we go. 00:44:32.818 --> 00:44:35.380 We said on our previous episode, 00:44:35.400 --> 00:44:36.782 the three things that we would do if 00:44:36.802 --> 00:44:38.664 we opened a gym tomorrow is you would 00:44:38.684 --> 00:44:40.525 have a gym, walk in, use the equipment. 00:44:40.746 --> 00:44:41.786 It's Disney World. 00:44:42.606 --> 00:44:45.289 Also in that facility is a room with 00:44:45.889 --> 00:44:48.112 the Norma Tech boots and a cold plunge 00:44:48.231 --> 00:44:51.273 and the weird masks that people put on 00:44:51.293 --> 00:44:52.655 their face to blast their face with 00:44:52.675 --> 00:44:53.275 infrared. 00:44:53.315 --> 00:44:56.318 That's like use your own recovery. 00:44:56.739 --> 00:44:58.300 And then the third option would be 00:44:59.621 --> 00:45:03.083 food, smoothies, places to chill. 00:45:03.123 --> 00:45:04.503 It's before, during, after. 00:45:06.244 --> 00:45:08.065 And PT clinics want to get you out 00:45:08.085 --> 00:45:09.186 the door as soon as you're done. 00:45:09.246 --> 00:45:10.547 Like they look like PTs will literally 00:45:10.588 --> 00:45:11.949 walk you to the front desk, right? 00:45:11.969 --> 00:45:13.028 They're like, okay, and you're out. 00:45:13.409 --> 00:45:15.951 They quite literally are the anti this. 00:45:16.010 --> 00:45:19.612 It's an assembly line that you ride versus 00:45:20.112 --> 00:45:21.273 you come in and you go anywhere you 00:45:21.313 --> 00:45:21.514 want. 00:45:21.934 --> 00:45:23.494 I don't see anybody doing that anytime 00:45:23.534 --> 00:45:23.735 soon. 00:45:24.335 --> 00:45:26.117 Maybe like a rehab to perform. 00:45:29.505 --> 00:45:30.766 No, because they're a network. 00:45:32.307 --> 00:45:33.809 But you could do both. 00:45:33.909 --> 00:45:35.811 You could do a membership or Tony does 00:45:35.851 --> 00:45:37.213 that. 00:45:37.452 --> 00:45:39.213 We would have to get Josh Funk here, 00:45:39.313 --> 00:45:40.534 the CEO, 00:45:40.614 --> 00:45:43.036 on a call here on an episode because 00:45:43.597 --> 00:45:46.920 the model of what they do is all 00:45:46.981 --> 00:45:48.661 mapped out in terms of spacing and square 00:45:48.702 --> 00:45:50.583 footage and he knows how many billable 00:45:50.704 --> 00:45:52.766 units and once they get a therapist up 00:45:52.786 --> 00:45:54.686 and running and how many therapists in 00:45:54.706 --> 00:45:56.248 terms of breaking even and then 00:45:56.849 --> 00:45:57.389 like that's, 00:45:57.730 --> 00:45:59.391 that's hard to change that model, man. 00:45:59.451 --> 00:46:00.592 Like once you're in that model, 00:46:00.612 --> 00:46:02.934 like it's hard to, it's about spacing. 00:46:02.974 --> 00:46:03.153 Right. 00:46:03.193 --> 00:46:05.815 So like his spacing is some open gym. 00:46:06.175 --> 00:46:06.436 Yes. 00:46:06.615 --> 00:46:07.677 He has a lot of places. 00:46:08.117 --> 00:46:10.559 His places have like the, the turf and, 00:46:10.579 --> 00:46:11.960 you know, pushing the sleds and there's, 00:46:12.219 --> 00:46:13.661 there's room for sprinting and running and 00:46:13.701 --> 00:46:13.942 stuff. 00:46:14.242 --> 00:46:16.143 But also some of that space is treatment 00:46:16.163 --> 00:46:17.264 tables, like out in the gym, 00:46:17.304 --> 00:46:18.405 like a bunch of treatment tables next to 00:46:18.425 --> 00:46:19.786 each other, which is, 00:46:20.166 --> 00:46:23.128 In the Equinox example is there's like two 00:46:23.148 --> 00:46:25.389 to five or six treatment tables because 00:46:25.429 --> 00:46:27.690 the people stretch on them or the trainers 00:46:27.710 --> 00:46:28.952 sometimes for better or for worse. 00:46:29.192 --> 00:46:31.233 I don't like it, but stretch people, 00:46:31.293 --> 00:46:32.114 stretch their members out. 00:46:32.153 --> 00:46:34.976 But most of the facility is the gym 00:46:35.016 --> 00:46:35.356 equipment. 00:46:35.617 --> 00:46:35.717 Right. 00:46:35.757 --> 00:46:36.396 Does that make sense? 00:46:36.556 --> 00:46:38.559 So like our our our setup is, 00:46:38.639 --> 00:46:38.878 you know, 00:46:39.119 --> 00:46:40.380 the space is utilized differently. 00:46:41.400 --> 00:46:41.621 I mean, 00:46:41.721 --> 00:46:43.342 if you watch a bar rescue like John 00:46:43.382 --> 00:46:44.402 Taffer knows what. 00:46:45.275 --> 00:46:46.077 A chair. 00:46:46.978 --> 00:46:47.759 This fascinated me. 00:46:47.778 --> 00:46:48.780 I never thought about it like that. 00:46:48.800 --> 00:46:49.179 He's like, well, 00:46:49.199 --> 00:46:50.561 we can get six more chairs in here. 00:46:50.581 --> 00:46:51.623 I'm like, why do you care about chairs? 00:46:51.643 --> 00:46:53.284 Like every chair brings in seventy eight 00:46:53.324 --> 00:46:53.985 dollars a day. 00:46:54.065 --> 00:46:55.286 And I'm like, really? 00:46:55.527 --> 00:46:56.246 Yeah, they're full. 00:46:56.847 --> 00:46:58.048 But even if they're not full, 00:46:58.068 --> 00:46:59.751 then the average cost per chair goes down. 00:46:59.771 --> 00:47:00.532 So he's like, I get it. 00:47:00.592 --> 00:47:01.572 I need to I need to be good. 00:47:02.954 --> 00:47:04.516 Know your customer acquisition cost, 00:47:04.876 --> 00:47:05.996 knowing what it costs to get someone in 00:47:06.016 --> 00:47:06.297 the door. 00:47:08.467 --> 00:47:09.327 Yeah. 00:47:09.347 --> 00:47:12.367 This is where people get mad at Lifetime 00:47:12.447 --> 00:47:12.827 Fitness. 00:47:12.867 --> 00:47:14.389 Was it Lifetime Fitness that was writing 00:47:15.168 --> 00:47:15.889 DPT? 00:47:16.489 --> 00:47:16.989 Yeah, they were. 00:47:17.010 --> 00:47:18.150 Across their chest. 00:47:18.409 --> 00:47:18.550 Yeah. 00:47:18.590 --> 00:47:19.530 And I just go like, 00:47:19.690 --> 00:47:20.990 are you mad they're doing it? 00:47:21.070 --> 00:47:22.371 Or are you mad they're doing it and 00:47:22.391 --> 00:47:22.931 you're not? 00:47:22.952 --> 00:47:24.172 Like, are you mad about the letters? 00:47:24.271 --> 00:47:26.032 I need you to get past that and 00:47:26.353 --> 00:47:26.893 ignore that. 00:47:27.293 --> 00:47:28.713 Someone is suing someone on that. 00:47:29.094 --> 00:47:29.873 That's not your worry. 00:47:29.893 --> 00:47:32.635 Your worry is their model is eating your 00:47:32.675 --> 00:47:34.054 lunch, not the letters. 00:47:34.275 --> 00:47:35.576 That's not what you should be defending. 00:47:36.902 --> 00:47:38.385 Talking about people suing people and 00:47:38.425 --> 00:47:39.086 people defending. 00:47:39.327 --> 00:47:40.670 I am going to an APTA event. 00:47:42.253 --> 00:47:42.934 Dave is not. 00:47:43.596 --> 00:47:44.418 Are you an APTA member? 00:47:44.858 --> 00:47:45.298 You don't care. 00:47:45.659 --> 00:47:46.641 I mean, you care, but you're like, 00:47:47.443 --> 00:47:48.465 you like show me a better ROI. 00:47:49.409 --> 00:47:51.429 I am going because I am a joiner. 00:47:52.030 --> 00:47:53.431 I just like groups of people and I 00:47:53.492 --> 00:47:54.231 hope for the better. 00:47:55.753 --> 00:47:56.954 They are having here. 00:47:57.034 --> 00:47:57.994 And here's what I wanted to say, 00:47:58.175 --> 00:48:00.175 which might make people like Dave do a 00:48:00.195 --> 00:48:00.976 little eyebrow raise. 00:48:01.996 --> 00:48:03.478 They are having this weekend, 00:48:04.039 --> 00:48:06.739 their APTA payment summit. 00:48:07.161 --> 00:48:08.420 And I think if they held this ten 00:48:08.460 --> 00:48:08.802 years ago, 00:48:08.822 --> 00:48:09.541 they would have called it the 00:48:09.581 --> 00:48:10.503 reimbursement summit. 00:48:10.902 --> 00:48:11.523 But they are not. 00:48:11.583 --> 00:48:12.623 They're calling it the payment summit. 00:48:14.125 --> 00:48:14.786 Yes, that's true. 00:48:14.885 --> 00:48:15.425 That's true. 00:48:15.505 --> 00:48:17.168 It's back to back in Portland. 00:48:17.208 --> 00:48:17.987 I got to fly all the way to 00:48:18.027 --> 00:48:19.670 Portland tomorrow morning at zero dark 00:48:19.690 --> 00:48:21.411 thirty House of Delegates, 00:48:21.431 --> 00:48:22.891 which is like the APTA's version of 00:48:22.952 --> 00:48:25.634 Congress where like rules get made. 00:48:25.773 --> 00:48:26.974 That stuff is over my head. 00:48:27.014 --> 00:48:27.916 I need people to I'm like, 00:48:27.996 --> 00:48:28.956 I don't know what you're saying. 00:48:28.996 --> 00:48:31.139 They're banging gavels and doing Robert's 00:48:31.159 --> 00:48:31.378 rules. 00:48:32.239 --> 00:48:37.284 I do like the idea of payment and 00:48:37.344 --> 00:48:38.364 what they're doing there. 00:48:39.335 --> 00:48:41.336 I know advocacy needs to happen and move 00:48:41.376 --> 00:48:41.717 slowly. 00:48:41.938 --> 00:48:43.059 I'm not the guy to do advocacy. 00:48:43.219 --> 00:48:44.661 I'm the guy that talks to the people 00:48:44.681 --> 00:48:45.842 who do advocacy because they got to do 00:48:45.902 --> 00:48:48.184 meetings and write a lot of strongly 00:48:48.204 --> 00:48:48.824 worded emails. 00:48:50.467 --> 00:48:51.987 Are you at least excited that someone's 00:48:52.028 --> 00:48:53.150 doing it, but you're not? 00:48:53.190 --> 00:48:54.690 No, no, it's never. 00:48:55.411 --> 00:48:56.713 Reimbursement will never change. 00:48:56.793 --> 00:48:57.914 I don't care. 00:48:57.934 --> 00:48:58.614 Well, it will change. 00:48:58.635 --> 00:48:59.737 It's just going to go down. 00:49:01.152 --> 00:49:01.632 Well, yeah, 00:49:01.652 --> 00:49:02.693 it's definitely going to go down. 00:49:02.733 --> 00:49:03.835 But with all this effort, 00:49:03.894 --> 00:49:06.317 it's crazy that they can't even get a 00:49:06.396 --> 00:49:08.358 three or five percent increase every year. 00:49:08.739 --> 00:49:09.599 They can't even do that. 00:49:09.920 --> 00:49:10.521 I will say this. 00:49:10.581 --> 00:49:11.661 If you look at other professions, 00:49:11.702 --> 00:49:12.242 it's the same. 00:49:12.302 --> 00:49:13.963 So it's not like APTA is inefficient. 00:49:13.983 --> 00:49:15.664 It's like the system is designed. 00:49:16.126 --> 00:49:16.706 What was the line? 00:49:16.806 --> 00:49:19.188 The system is designed to get the result, 00:49:19.228 --> 00:49:20.289 the exact result it gets. 00:49:20.309 --> 00:49:21.590 It's like the system's broken. 00:49:21.771 --> 00:49:22.572 Are we shocked about it? 00:49:22.931 --> 00:49:23.693 I will say this. 00:49:24.233 --> 00:49:25.494 It's impossible to know. 00:49:26.275 --> 00:49:27.336 what the world would look like if you 00:49:27.356 --> 00:49:30.621 didn't have your APTA or AOTA or ASHA. 00:49:30.900 --> 00:49:32.003 It could be worse. 00:49:32.583 --> 00:49:33.684 That's not a great business model. 00:49:33.744 --> 00:49:35.686 Hey, without us, it could be worse. 00:49:35.807 --> 00:49:36.768 It could be worse. 00:49:37.385 --> 00:49:38.527 Yeah, I mean... 00:49:39.327 --> 00:49:41.969 I also say this isn't the main value 00:49:42.009 --> 00:49:43.269 if you're an APTA member or not. 00:49:44.110 --> 00:49:45.711 I stood in front of students at Keene 00:49:45.771 --> 00:49:47.652 University in New Jersey and a student 00:49:47.753 --> 00:49:47.913 asked, 00:49:48.393 --> 00:49:51.215 should I join APTA right out of school? 00:49:51.735 --> 00:49:53.757 And Ben Aguila, do you know Ben Aguila? 00:49:53.876 --> 00:49:54.838 Great guy, New Jersey. 00:49:55.197 --> 00:49:57.179 He was like, of course, this, this, this. 00:49:57.259 --> 00:49:58.119 And I said, Ben, 00:49:58.139 --> 00:49:59.240 I'm going to offer a counterpoint. 00:49:59.320 --> 00:49:59.880 And Ben was like, 00:49:59.920 --> 00:50:00.641 what are you doing here, buddy? 00:50:00.661 --> 00:50:01.362 We're on stage. 00:50:01.742 --> 00:50:02.262 We're pushing. 00:50:03.603 --> 00:50:05.164 I said, don't join APTA. 00:50:05.465 --> 00:50:06.365 And the room went quiet. 00:50:07.128 --> 00:50:07.628 And then I said, 00:50:07.849 --> 00:50:10.592 until you understand what you're looking 00:50:10.632 --> 00:50:13.617 for and what APTA actually provides. 00:50:13.918 --> 00:50:15.099 If you're looking for a community, 00:50:15.992 --> 00:50:18.474 APTA provides that, a network, right? 00:50:19.275 --> 00:50:21.076 If that's what you're looking for, 00:50:21.356 --> 00:50:23.217 what I'm trying to do is have nobody 00:50:23.257 --> 00:50:25.398 in the comments section a year later 00:50:25.438 --> 00:50:25.657 going, 00:50:25.717 --> 00:50:27.219 I paid APTA five hundred bucks and I 00:50:27.239 --> 00:50:27.998 didn't get anything. 00:50:28.679 --> 00:50:30.300 Make sure you have expectations in 00:50:30.360 --> 00:50:30.840 reality. 00:50:31.121 --> 00:50:32.342 If you think you're going to pay APTA 00:50:32.382 --> 00:50:33.983 five hundred bucks and payments going to 00:50:34.003 --> 00:50:34.842 turn around tomorrow, 00:50:35.083 --> 00:50:37.824 you will be disappointed and then you'll 00:50:37.844 --> 00:50:38.864 leave and you'll never come back. 00:50:39.445 --> 00:50:40.085 I don't want that. 00:50:40.766 --> 00:50:42.947 It's four hundred people out in Portland. 00:50:43.447 --> 00:50:46.630 I'll report back what actually is done. 00:50:46.789 --> 00:50:47.530 I hope it's good. 00:50:49.172 --> 00:50:49.771 I hope it's good. 00:50:49.972 --> 00:50:51.454 But I thought all three of the topics 00:50:51.474 --> 00:50:53.554 today were all about money, 00:50:53.914 --> 00:50:56.376 expectation matching reality and 00:50:56.516 --> 00:50:57.677 understand what game you're playing. 00:50:59.315 --> 00:51:00.195 And for me, 00:51:00.996 --> 00:51:03.976 I can't outsource that to Jimmy and Tony. 00:51:04.137 --> 00:51:07.538 I can't outsource that to the APTA. 00:51:07.659 --> 00:51:09.619 Structuring a model that's profitable. 00:51:14.782 --> 00:51:15.722 Here's your decision tree. 00:51:16.262 --> 00:51:16.862 What should you do? 00:51:17.061 --> 00:51:17.943 Join APTA. 00:51:18.063 --> 00:51:18.842 What should you do after that? 00:51:19.023 --> 00:51:21.003 Immediately continue to work on your own 00:51:21.023 --> 00:51:21.384 problems. 00:51:21.844 --> 00:51:23.304 Because they're going to be background 00:51:23.344 --> 00:51:23.684 stuff. 00:51:23.784 --> 00:51:25.126 It's too big to move. 00:51:26.045 --> 00:51:27.606 So you'll notice... 00:51:28.679 --> 00:51:30.721 The stuff that APTA or large organizations 00:51:30.780 --> 00:51:33.221 do, it's moving like a, you know, 00:51:33.260 --> 00:51:34.440 you time it like a sundial. 00:51:34.481 --> 00:51:35.041 It's moving. 00:51:35.101 --> 00:51:36.001 It's just super slow. 00:51:36.041 --> 00:51:37.402 It's like, all right, well, 00:51:37.422 --> 00:51:38.222 that's out of my arena. 00:51:38.282 --> 00:51:39.523 But I am going there this weekend. 00:51:41.623 --> 00:51:43.083 I'll be doing some short interviews too. 00:51:43.364 --> 00:51:44.204 I'm doing more of those, 00:51:44.244 --> 00:51:45.623 just like three question interviews. 00:51:46.043 --> 00:51:46.905 Those turn out well. 00:51:47.445 --> 00:51:47.784 As well as, 00:51:47.885 --> 00:51:49.364 did you see the video I shared yesterday? 00:51:50.025 --> 00:51:51.346 Do you know those reaction videos? 00:51:52.469 --> 00:51:53.869 where it's a guy, he's really funny. 00:51:53.909 --> 00:51:55.871 He's got a beard and he'll have just 00:51:55.891 --> 00:51:58.472 a bunch of like videos from people like 00:51:58.512 --> 00:51:59.873 hurting themselves on job sites. 00:51:59.914 --> 00:52:01.253 Like a guy shoots himself with a nail 00:52:01.293 --> 00:52:02.514 gun or a guy falls off a ladder. 00:52:02.775 --> 00:52:04.836 And the video is weird clip. 00:52:04.876 --> 00:52:06.117 And then the guy's like looking at it. 00:52:06.137 --> 00:52:07.438 It's like him just like straight. 00:52:08.059 --> 00:52:08.898 And then he looks over here. 00:52:08.938 --> 00:52:09.840 So I was like, 00:52:09.920 --> 00:52:10.840 I'm going to steal that format. 00:52:10.920 --> 00:52:11.460 And I did that. 00:52:11.521 --> 00:52:12.581 And I went on Instagram and I found 00:52:12.601 --> 00:52:14.001 a bunch of weird rehab stuff, 00:52:14.322 --> 00:52:16.023 guy with a flamethrower, 00:52:16.344 --> 00:52:18.045 a guy with a Milwaukee buffer. 00:52:18.304 --> 00:52:18.585 And I'm like, 00:52:18.724 --> 00:52:20.065 I'm going to be the weird face between 00:52:20.286 --> 00:52:21.007 that video blew up. 00:52:21.606 --> 00:52:22.586 This just tells you. 00:52:23.047 --> 00:52:24.467 How many views right now? 00:52:24.568 --> 00:52:25.867 Because it looks like it got a bunch 00:52:25.887 --> 00:52:27.429 of comments and likes and reactions. 00:52:27.449 --> 00:52:28.309 It got a bunch of comments, 00:52:28.329 --> 00:52:29.028 a bunch of likes. 00:52:29.068 --> 00:52:29.469 I'm looking up. 00:52:29.849 --> 00:52:31.469 Is that like five or ten K already? 00:52:31.809 --> 00:52:32.449 It's already five. 00:52:32.510 --> 00:52:33.889 It was five K this morning. 00:52:33.909 --> 00:52:33.969 Wow. 00:52:34.050 --> 00:52:34.210 Nice. 00:52:34.309 --> 00:52:38.291 Actually, that's where it went down. 00:52:38.351 --> 00:52:38.871 It can't go down. 00:52:38.891 --> 00:52:39.672 It's not how views work. 00:52:40.032 --> 00:52:42.492 for for credit for k right now that's 00:52:42.572 --> 00:52:43.472 lower than i thought it would be i 00:52:43.512 --> 00:52:44.492 thought that would have been like a ten 00:52:44.532 --> 00:52:46.034 k in twenty four hours but we still 00:52:46.054 --> 00:52:47.733 got some time that is also funny how 00:52:47.773 --> 00:52:49.014 videos work though could do nothing 00:52:49.054 --> 00:52:52.496 nothing nothing pop so you never know um 00:52:53.835 --> 00:52:55.757 so that's the lesson there is take a 00:52:55.817 --> 00:52:58.458 format that's that's already working and 00:52:58.478 --> 00:53:00.619 then just how do i do my spin 00:53:00.659 --> 00:53:03.298 on it bow dr bow out in colorado 00:53:03.699 --> 00:53:05.699 says brilliant borrow yeah i just stole it 00:53:05.800 --> 00:53:06.981 i didn't borrow it i just stole it 00:53:07.240 --> 00:53:08.081 i was like i can do this 00:53:09.157 --> 00:53:09.318 Yeah, 00:53:09.378 --> 00:53:11.358 APT is a great community if you like 00:53:11.438 --> 00:53:13.119 that. 00:53:13.159 --> 00:53:14.699 Anyway, all right, parting shots. 00:53:15.239 --> 00:53:18.021 What do you got for us, Dave? 00:53:18.061 --> 00:53:20.702 Just for us continuing to focus on 00:53:20.942 --> 00:53:23.503 over-delivering value to our patients and 00:53:23.523 --> 00:53:23.922 clients. 00:53:24.123 --> 00:53:25.304 And when we do that, 00:53:25.443 --> 00:53:28.244 then we can easily map out projections of, 00:53:28.324 --> 00:53:28.505 hey, 00:53:28.545 --> 00:53:30.666 we got people paying four K per year. 00:53:31.465 --> 00:53:32.586 And here's how we could get them to 00:53:32.606 --> 00:53:33.626 pay six K per year. 00:53:33.646 --> 00:53:34.666 But it's not salesy. 00:53:34.706 --> 00:53:35.487 It's not pressuring. 00:53:35.527 --> 00:53:35.967 It's not... 00:53:36.568 --> 00:53:38.989 anything nefarious it's like can we unlock 00:53:39.028 --> 00:53:40.369 more value can we help them with more 00:53:40.409 --> 00:53:43.371 things get more referrals uh and that like 00:53:43.472 --> 00:53:44.452 i shared that with you guys because i 00:53:44.472 --> 00:53:46.032 was like that's always on my head which 00:53:46.072 --> 00:53:48.153 is like how can we obviously we want 00:53:48.173 --> 00:53:50.514 to grow and and get more patients and 00:53:50.534 --> 00:53:52.916 clients but one of the easiest levers for 00:53:53.016 --> 00:53:55.958 us is having the same patients and clients 00:53:56.458 --> 00:53:58.179 that were recently with us or even years 00:53:58.219 --> 00:54:01.300 ago continue to work with us and without 00:54:01.340 --> 00:54:02.782 that new customer acquisition cost 00:54:05.101 --> 00:54:06.443 They're a text message away, guys. 00:54:06.463 --> 00:54:08.483 They're an email away. 00:54:08.943 --> 00:54:11.244 I have them nearby somewhere. 00:54:11.744 --> 00:54:13.123 Send them handwritten thank you notes. 00:54:13.443 --> 00:54:14.264 Send them handwritten letters. 00:54:14.364 --> 00:54:16.405 Hey, hope you're having a great summer. 00:54:17.125 --> 00:54:17.744 Happy birthday. 00:54:19.085 --> 00:54:20.266 I mean, 00:54:20.505 --> 00:54:21.846 one of my patients that's been with me 00:54:21.885 --> 00:54:22.485 for two years, 00:54:22.505 --> 00:54:23.646 it was just his birthday like a week 00:54:23.666 --> 00:54:24.027 or two ago. 00:54:24.947 --> 00:54:26.527 and i was like i bought him a 00:54:26.588 --> 00:54:28.048 mini massage gun because he loves the 00:54:28.088 --> 00:54:29.449 massage guns i'm like you could travel 00:54:29.469 --> 00:54:30.391 with it you could do it when i'm 00:54:30.411 --> 00:54:33.914 not here uh yep jimmy's got this is 00:54:34.094 --> 00:54:38.056 this is uh sponsored here we go um 00:54:38.077 --> 00:54:39.697 so so i got this i got this 00:54:39.717 --> 00:54:43.000 guy a one of those heichi massage guns 00:54:43.019 --> 00:54:45.101 they're like fifty bucks and then i said 00:54:45.181 --> 00:54:47.262 i'm also gonna get you uh a fifty 00:54:47.282 --> 00:54:48.884 five minute in-home massage from this 00:54:48.923 --> 00:54:51.306 other company this other person now i'm 00:54:51.545 --> 00:54:52.827 i'm giving this massage therapist a 00:54:52.847 --> 00:54:53.208 referral 00:54:54.385 --> 00:54:58.371 And the patient is beyond impressed and 00:54:58.472 --> 00:54:59.813 was super surprised. 00:55:00.353 --> 00:55:01.896 But this guy has spent forty five thousand 00:55:01.916 --> 00:55:03.458 dollars with us in two years. 00:55:03.478 --> 00:55:05.221 He bought himself the massage gun. 00:55:05.802 --> 00:55:07.344 It's already baked into the profit, baby. 00:55:07.523 --> 00:55:08.545 So anyway, for it. 00:55:10.695 --> 00:55:12.396 Oh, long thing for Matt. 00:55:12.436 --> 00:55:13.376 Matt's saying what we're saying. 00:55:13.396 --> 00:55:14.538 People need to stop looking for a potato 00:55:14.557 --> 00:55:15.137 to solve their problems. 00:55:15.978 --> 00:55:17.179 They're not a marketing agency. 00:55:17.498 --> 00:55:18.159 They're not. 00:55:18.599 --> 00:55:19.099 It's in the name. 00:55:19.179 --> 00:55:21.061 They're a professional association. 00:55:21.161 --> 00:55:22.882 They're where professionals associate. 00:55:22.961 --> 00:55:23.782 That is a place. 00:55:23.822 --> 00:55:24.583 That is a community. 00:55:25.123 --> 00:55:26.143 Not a marketing agency. 00:55:26.204 --> 00:55:26.583 I'm very sorry. 00:55:26.603 --> 00:55:27.304 They're not built for that. 00:55:29.405 --> 00:55:31.987 That's brilliant. 00:55:32.668 --> 00:55:34.268 In your brain, do you have... 00:55:35.068 --> 00:55:35.429 hey, 00:55:35.909 --> 00:55:39.710 when a patient has netted me or grossed, 00:55:40.311 --> 00:55:42.831 no, netted, netted me ten K, 00:55:43.552 --> 00:55:44.913 I should get them a dinner at like 00:55:44.992 --> 00:55:46.094 four seasons or something. 00:55:46.994 --> 00:55:47.514 Yeah, yeah. 00:55:47.693 --> 00:55:50.896 Dude, if someone netted us ten K, 00:55:51.335 --> 00:55:53.496 why would I not spend a thousand dollars 00:55:53.536 --> 00:55:54.856 on them? 00:55:54.996 --> 00:55:56.077 Stop being cheap. 00:55:56.117 --> 00:55:56.777 Stop being cheap. 00:55:56.797 --> 00:55:57.677 Come on. 00:55:57.737 --> 00:55:59.498 But never say spend ten K and get 00:55:59.518 --> 00:56:00.199 the tote bag. 00:56:00.719 --> 00:56:01.179 Just... 00:56:02.039 --> 00:56:03.762 Send them a thing like I have a 00:56:03.802 --> 00:56:06.268 reservation for you standing at Smith and 00:56:06.288 --> 00:56:06.969 Walensky's. 00:56:07.570 --> 00:56:09.152 What's Peter Luger, right? 00:56:09.172 --> 00:56:09.853 That's the big one. 00:56:10.034 --> 00:56:10.815 Was that Brooklyn? 00:56:10.976 --> 00:56:11.737 Peter Luger. 00:56:12.579 --> 00:56:14.141 Your name, whatever you want. 00:56:14.161 --> 00:56:15.141 The bill comes to me. 00:56:15.242 --> 00:56:15.722 Thank you. 00:56:16.043 --> 00:56:18.284 And that feels gangster. 00:56:18.666 --> 00:56:20.768 That feels like Goodfellas, 00:56:21.128 --> 00:56:24.490 which is worth way more than a thousand 00:56:24.510 --> 00:56:25.711 bucks. 00:56:25.771 --> 00:56:28.494 And it's got to be something that it's 00:56:28.534 --> 00:56:30.036 not a branded t-shirt from us. 00:56:30.097 --> 00:56:32.097 That's not a birthday gift. 00:56:32.838 --> 00:56:34.320 that's about us it's got to be something 00:56:34.340 --> 00:56:36.041 that they care about that would benefit 00:56:36.081 --> 00:56:38.222 them that does not have your logo on 00:56:38.262 --> 00:56:40.065 it and then when their friends come over 00:56:40.304 --> 00:56:42.347 they want to show their friends and tell 00:56:42.387 --> 00:56:44.047 their friends about their physical 00:56:44.108 --> 00:56:45.588 therapist that got them this gift or 00:56:45.608 --> 00:56:48.210 whatever so you know cutting knives like 00:56:48.251 --> 00:56:53.135 whatever it is yeah knives would be cool 00:56:55.643 --> 00:56:56.244 If they cook, 00:56:56.364 --> 00:56:57.885 if they prepare their own food, 00:56:58.824 --> 00:57:00.606 you got to know their thing. 00:57:00.826 --> 00:57:02.726 And when they're spending four to six 00:57:02.746 --> 00:57:03.686 grand with you per year, 00:57:03.947 --> 00:57:05.186 you better know their thing. 00:57:05.547 --> 00:57:06.327 And time. 00:57:06.706 --> 00:57:07.867 That has probably come up. 00:57:08.007 --> 00:57:08.407 Oh my God, 00:57:08.447 --> 00:57:09.867 I've always wanted to take my kid to 00:57:09.907 --> 00:57:12.009 a Yankee game and sit in a box. 00:57:12.068 --> 00:57:13.708 And you're like, mental note, got it. 00:57:13.728 --> 00:57:15.250 Don't worry about it. 00:57:15.750 --> 00:57:16.869 And you go on eBay and you get 00:57:17.329 --> 00:57:17.670 whatever. 00:57:18.190 --> 00:57:19.150 That carries weight. 00:57:19.510 --> 00:57:20.451 My parting shot would be 00:57:22.739 --> 00:57:23.880 expectation for reality, 00:57:24.481 --> 00:57:25.240 make sure they match. 00:57:25.420 --> 00:57:26.041 And if they don't, 00:57:26.222 --> 00:57:27.242 that's why people are pissed. 00:57:28.003 --> 00:57:29.824 And again, to reiterate, 00:57:29.905 --> 00:57:31.206 it's not really Alex Ramos's thing, 00:57:31.246 --> 00:57:32.146 but he does hammer it a lot. 00:57:32.166 --> 00:57:34.568 There's only three ways to not even make 00:57:34.608 --> 00:57:35.809 more money, serve people better, 00:57:36.291 --> 00:57:38.032 get more people to come to your thing 00:57:38.052 --> 00:57:38.672 or buy your thing. 00:57:39.273 --> 00:57:40.954 Get those people to come back more often. 00:57:41.094 --> 00:57:41.715 Those are different. 00:57:42.076 --> 00:57:43.818 And get those people who come back to 00:57:43.938 --> 00:57:45.440 spend or do more. 00:57:45.760 --> 00:57:47.481 Those are the only three ways. 00:57:47.501 --> 00:57:49.643 I'll report back after I'm back from APTA. 00:57:49.664 --> 00:57:51.226 We'll see how that goes. 00:57:51.266 --> 00:57:53.347 We'll see if we've changed the world in 00:57:53.427 --> 00:57:55.150 Portland this weekend. 00:57:55.610 --> 00:57:56.490 Dave, have a good weekend. 00:57:56.550 --> 00:57:57.211 Yeah, fingers crossed. 00:57:58.672 --> 00:57:58.913 That's it. 00:57:58.932 --> 00:57:59.112 We're out. 00:57:59.132 --> 00:58:00.653 Boys, what the hell are you doing? 00:58:00.713 --> 00:58:03.514 Follow Tony Meritato on YouTube at Total 00:58:03.554 --> 00:58:04.596 Therapy Solution. 00:58:04.635 --> 00:58:05.635 Find Dave Kittle at 00:58:05.655 --> 00:58:08.858 ConciergePainRelief.com and on YouTube at 00:58:08.878 --> 00:58:10.139 The Dave Kittle Show. 00:58:10.378 --> 00:58:13.300 And follow Jimmy McKay at PT Podcasts on 00:58:13.420 --> 00:58:14.701 YouTube, the socials, 00:58:14.780 --> 00:58:16.561 and wherever you binge podcasts you 00:58:16.581 --> 00:58:18.242 pretend are for CEUs. 00:58:18.563 --> 00:58:20.003 And hey, just a reminder, 00:58:20.483 --> 00:58:21.784 none of this was for advice. 00:58:21.824 --> 00:58:23.125 This was for entertainment only. 00:58:23.144 --> 00:58:24.965 Our lawyers say that counts. 00:58:25.045 --> 00:58:25.947 Thanks, Keith.