In this episode of the Grow Your Practice Podcast, host Chad Madden invites Bob Kowalick, a seasoned physical therapy professional and expert in billing and data analytics, to discuss strategies for optimizing revenue cycle management in private practice.
Bob shares his journey from operating a high-volume physical therapy practice to focusing on billing and data analytics to help practices improve their financial performance. He emphasizes the importance of understanding and reducing complexity in billing processes, leveraging data to inform business decisions and the impact of efficient revenue cycle management on practice scalability and profitability.
Bob also introduces a business intelligence tool that transforms the billing process into a valuable data source for practice owners. The tool aims to improve revenue, reduce costs, and enhance overall business value.
00:00 Welcome and Introduction to the Podcast
00:16 Special Guest Bob Kowalick: A Deep Dive into His Journey
01:09 The Evolution of a Physical Therapist into a Data Analyst
03:00 Unveiling the Power of Data in Physical Therapy Practices
06:31 The Critical Role of Revenue Cycle Management
08:59 Identifying and Reducing Complexity in Revenue Cycle
18:48 Transformative Stories and the Importance of Efficient Billing
33:32 The Future of Revenue Cycle Management and Business Intelligence
34:17 Final Thoughts and Book Recommendations