The Cash-Based Practice Podcast
Business:Management & Marketing
CBP 072: Hybrid Cash-Practices and the Art of Serial Entrepreneurship - Maury Hayashida, DPT
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Maury Hayashida, DPT, has achieved what a great deal of established practice owners are looking to do … create a cash-based practice alongside his insurance-based practice AND add cash-pay services to his insurance based practice. The goal is certainly not always to just drop all insurance practices and go completely cash-pay. Maury describes exactly how he has achieved this hybrid business model.
But those two practices are just 2 of over 10 business interests Maury has created. As a result, he is a wealth of information and inspiration to the those looking to become serial-entrepreneurs. Following his model of 'thinking big, but going small', Maury has built more than half a dozen businesses to address the needs of his community and his PT staff members.
In this episode, Maury speaks about how he has utilized a vertical integration strategy to allow his insurance-based physical therapists to uncap their income with cash-based opportunities. Using this strategy, his businesses have developed to encompass all realms of human movement, from testing technologies and supporting novel research to training high-level athletes and treating injured patients.
More specifically, we discuss: How opening a third clinic location helped him recognize the need for a cash-based practice in Santa Barbara. Why Maury chose to base his cash practice in a gym instead of the space he was renting for his insurance practice. The concept of “vertical integration” and how Hayashida and Associates’ employees can uncap their earning potential by being employed at a number of Maury’s interrelated businesses. M2PSB, a cash-based business that allows employees at Hayashida to train healthy individuals outside of providing skilled physical therapy. Motus Enterprises, Inc, which provides movement tracking software for remote patient monitoring. How his Variant Training Lab utilizes movement analysis and product testing for train healthy individuals with monthly memberships. Why physicians approach Maury for networking instead of the other way around Maury’s non-profit venture that allows staff PTs to conduct and publish original research The different approaches Maury uses to market his insurance and cash-based practices. Why he is no longer looking to grow his insurance based clinics and is instead focusing on cash-pay access points for his patients and PTs. Resources mentioned in this episode: Hayashida and Associates Move 2 Perform Santa Barbara Motus Enterprises Variant Training Lab Research Institute of Human Movement Movement for Life GroupInterested in the cash-based private practice model?
>> Click Here to learn how to start your own Cash-Based Practice
Let us know if you enjoyed the show:[Click to Tweet] Thanks Maury Hayashida @HayashidaPT for your awesome interview on success in the Hybrid Cash Practice model and serial-entrepreneurship w/ @drjarodcarter ! https://bit.ly/2J3kOlO #cashPT #bizPT
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