Transforming Physical Therapy Practices: Insights from Michael Silva

Authentic Business Adventures Podcast

Michael Silva - Physical Therapy Coach On Preparing For an Exit: "I pulled myself out. I was the least revenue generating team member out of my whole team at the time when I sold, so I wouldn't be handcuffed to the business." What if I told you a $195 physical therapy session might only be reimbursed at $59? In this episode, we sit down with business coach Michael J. Silva, who specializes in guiding physical therapists through the tricky terrain of insurance contracts and pricing. Michael breaks down how insurance companies dictate pricing for physical therapy services, leaving therapists with little say in how much they actually get paid. Using a simple yet powerful analogy about selling a cup of iced coffee, Michael illustrates the struggle between what a service is worth and what insurance will allow. But it's more than just numbers—this conversation digs deep into the effects this has on the quality of care, the business side of physical therapy, and the uphill battle many clinics face to stay profitable. From the frustrations of dealing with paperwork and low reimbursements to finding ways to offer preventative care despite insurance limitations, this episode uncovers the real costs that come with delivering healthcare. Whether you're a physical therapist, a business owner, or simply interested in the inner workings of the healthcare system, this episode is packed with insights you won’t want to miss. Plus, hear how Michael successfully built and sold his practice, and how he now coaches other therapists to grow their businesses, avoid burnout, and navigate the insurance maze. Join us as we explore the highs and lows of physical therapy practices, with tips on how to thrive in a system that often feels like it's stacked against you. Visit Michael at: https://michaeljsilva.com/ Podcast Overview: 00:00 Created Run Strong to prevent runners' injuries. 06:51 Transitioning from PT to helping therapists grow. 15:04 My kids aren't interested in healthcare careers. 20:14 Health coach improving lives through somatic work. 22:03 Small practices struggle; larger, diverse ones thrive. 28:34 First client gained through friend's referral proves invaluable. 33:30 Doctors overwhelmed by high patient quotas, lower reimbursements. 37:25 Started business for health-conscious, motivated clients. 42:38 Ebook on business basics and core strategies. 50:07 Business coaching: prefer long-term packages for value. 51:57 Passionate focus, AI, streamline processes, healthcare change. Podcast Transcription: Michael Silva [00:00:00]: You this cup of iced coffee. Right? I could charge whatever I wanted for it. If you're in contract with an insurance company, I can say, okay. I wanna sell you this cup of physical therapy services, and I wanna charge a $195 for that session. And they're gonna On, no. If you want our clients, we're gonna pay you $59, and you'll take it or you won't see our clients. James Kademan [00:00:21]: You have found Authentic Business Adventures, the business program that brings you the struggle stories and triumphant successes of business owners across the land. Downloadable audio episodes can be found On the podcast link found at draw in customers.com. We are locally underwritten by the Bank of Sun Prairie, Calls on call extraordinary answering service, as well as the Bold Business Book. And today, we're welcoming slash preparing preparing to learn from Michael j Silva, the business coach specifically for physical therapists. So, Michael, how is it going today? Michael Silva [00:00:52]: It's going great. How are you doing, James? James Kademan [00:00:54]: I'm doing well. So tell me the physical therapist world in my mind, that's for people that are older broken. Right? Is that, I am guessing that is incorrect, Michael Silva [00:01:05]: but they are a, they are a frequent flyer of physical therapy services for sure. But physical therapy,