TRANSKRIPT 🔗
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My name is Craig, and I'm the owner of Daisy Financial Coaching.
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Our team is on a mission to make your therapy practice permanently profitable.
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If you own a solo or group practice, we're here to help you build a business that creates more time, makes more money, and serves more people.
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This is the Therapy Business Podcast.
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All right, Chris, thanks for joining me.
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How are you doing?
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I'm good.
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How are you?
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I'm awesome.
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I'm awesome.
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I'm excited to uh get to know you and and your your history and your your business, I guess, uh journey because you have experience in the PT world and then now in the tech world.
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So there's just so much interesting things uh that I've I've already like I said, before we even hit record, I was like, I got I almost asked you some questions.
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Like, let me wait, let me wait, because I'm curious, I got a lot I want to learn.
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And so uh let's just lead with uh who are you and give us a little bit of a background or intel into Chris.
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Yeah, for sure.
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Um, so as you can tell by my background, I am from Buffalo, New York.
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Uh I am a doctor of physical therapy, graduated from Damon College in 2017, and I went right into travel PT.
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Um, since then, I've had I got a wife, two kids now, live in Buffalo full-time.
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Um, it's been quite the journey, but the the PT world is where I still live, even with the health tech company that I run.
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Um, and we can dive in a little of both, but my original background is Buffalo born and raised.
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As soon as I graduated, I wanted to go somewhere warm, try to get out of here as soon as I could.
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Um, so as soon as graduation happened, I was right into travel PT.
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My first location was Virginia, um, which was interesting.
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I was in the middle of nowhere, Virginia, but it was south enough during the fall that it still felt warm.
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Um, I was in South Boston, Virginia.
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And then from there I went to Arizona and I was there for a year, then went to California.
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I had a three-day stint in uh Bakersfield, which obviously did not last very long, and made my way over to San Jose.
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Um, was there for a while, went to Fort Myers, Florida after that, and then COVID hit and ended up back in Buffalo.
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Awesome, awesome.
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And so then you did you start a practice in Buffalo or you did you uh team up with somebody else?
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What have you been doing uh since that time?
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Yes, I moved back to Buffalo, peak COVID.
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It was like March of 2020.
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Um, while I was here, I couldn't even find a job.
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Actually, it was one of those things where no outpatient was open.
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I got per diem work at a skilled nursing facility, which is probably the last place he wanted to be during COVID.
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Uh so that was interesting.
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While I did that, my friend was working at an outpatient clinic here in Buffalo.
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Um so sorry.
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I had a glitch there for a second.
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Oh, it's okay.
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Um my friend had an outpatient clinic here in Buffalo, and I went and joined him working at a clinic that I thought was normal, one to two people an hour as COVID restriction started lifting.
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I ended up starting seeing almost four people an hour here, which isn't uncommon for an outpatient in Buffalo, but not ideal.
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Yeah.
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Uh so I was kind of pushed to open my own clinic, and that's kind of what led me to open my cash practice here.
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Awesome.
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So you you got your own cash practice.
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How do you how does that compare?
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What do you do you like owning your own business?
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Was there was did you like it better working for someone else?
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Uh I've heard mixed review.
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Well, obviously I'm I'm a business owner too, so I kind of have my own opinions, but uh yeah, how did you feel about it or how do you feel about it today?
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It's funny because I got into PT because my hockey coach owned a PT clinic for years, and I always said I had no interest in owning my own clinic.
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It's one of those things where it just didn't seem like interesting to me.
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It's like I just would like to be a PT and treat and go home.
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Now owning my own clinic, like I don't think I could ever work for somebody again.
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Um, I love business ownership.
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I mean, I own two businesses now, so it's quite the far cry from what I was saying when I was in PT school.
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Um, but it it's been fun.
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I I enjoy it.
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Yes, man, that's
Load full transcript
that's great.
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Um I I agree.
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I think there's there's the ups and downs of being a business owner, there's the stresses that you know are very unique, but at the end of the day, I feel like the the pros outweigh the cons.
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And um, for sure, I I say I don't I don't know if I could go back to a traditional or I would if I had to, but I hope I don't have to, is what I should probably say.
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Uh so with your practices, are you a solo practice right now?
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Do you have a team under you?
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What does that look like?
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So I had a therapist, I was working per diem for a little bit, um, but my wife is actually a PT as well.
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Oh, awesome.
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So I had hired her as an employee for a while.
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Um, I always got a kick out of saying that I was her boss.
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Um, and never worked out that way.
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But now she is a partner in the business.
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Um, because I am doing so much with my AI scribe company, I don't treat as much.
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Um, I probably treat three or four hours a week, mostly evaluations.
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I would say my wife is probably 10 to 20 hours a week.
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Um, so she's growing her business.
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Like I said, I have two small kids, so it was uh work while she could.
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Now that our oldest is in pre-K, youngest is in daycare a couple days a week.
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Um, she's got a little more freedom.
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So that's kind of where we are right now.
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It's just me and her in the business.
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Awesome.
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No, that's that's a good way to be, and uh especially with you having this other AI scribe business that you've been talking a little bit about.
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And so uh what led you to to do that?
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Tell me a little bit a bit about this this side that you're doing.
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What is this AI scribe thing you're talking about?
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Yeah, it's interesting because it kind of came full circle.
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I was doing travel PT and that first travel job came home to Buffalo during the winter, during the holidays, and I was catching up on an eval.
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I was at the kitchen table writing my evaluation because I had to go back Monday and see this patient.
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And my cousin was there, and he's like, you know, hey, I could probably do that for you.
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And this was back in 2017.
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I'm like, yeah, that'd be great because I hate doing this, but I have to.
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He went to school, he graduated college at RIT, he was a software engineer.
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He's writing code for military planes and satellites and doing a bunch of cool stuff that I thought was cool.
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Um, but after working for a few months, he's like, you know, I'm not really fulfilled.
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Apparently, he write the code for two weeks, and then they'd have to take two years to make sure it worked, because obviously something like that can't not happen.
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Um, so he's like, Do you still have that documentation issue?
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I'm like, Yeah, it's even worse now.
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So he ended up building the first ever what we call comprehend health, our AI scribe, for me.
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And I was a perfect guinea pig because I was a cash PT, didn't really have to document very stringently.
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Um and it's grown quite a bit from there.
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But yeah, origin story is very similar to what a lot of therapists feel is documentation at home while your kids are waiting for you, and it's kind of why we built it.
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Yeah, that's that's awesome.
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So, how does that that work then?
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I uh so uh I get the idea of I I guess I get a gist of the AI and how it supports, but uh, how are practice owners using it right now on the day-to-day?
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Yeah, so our bread and butter is you hit record and your patient walks in, hit stop, hit comprehend, and we write the whole note directly into the therapist EMR.
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So the second your patient leaves, your note is already done.
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You just check it over and make sure it's good.
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But we also give them a compliance score in real time.
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We have a full chat feature that's essentially like a HIPAA compliant chat GPT.
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So if you come in and I do an evail for you, and like I treat a lot of golfers, and it's like, hey, Craig has back pain.
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I gave him these three exercises.
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It could give me recommendations for progressions, it could also help remind me of what we even talked about because I I used to talk a lot to my patients, educate a ton, and I'd get behind in notes because I wouldn't write anything down.
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So now it hears everything I'm saying, wrote my whole note, and I could just ask it, like, what did I give Craig for home?
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And it's able to just kind of give me a quick rundown.
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Um, so super helpful there.
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And it's nice that my patients walk in and I just record on my phone.
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So we have an iPhone, Android app, I hit record, put my phone in my pocket, and I just walk around my clinic with them, treat them, and I go right home.
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Yeah, that's great.
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Sounds like it saves a lot of time um and effort and energy.
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And I'm with you on the uh getting caught up on what have we already talked about.
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Because I mean it's it's not that we aren't connected with our patients, it's just you see so many people in a day and in a given week, and it's uh, you know, keeping things straight of who did I talk to about this uh specifically already or not as uh can get mixed up for sure.
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Great.
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So what has the response been?
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Uh do you know roughly, I guess, how many how many PTs are using it?
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How are they as a uh I'm I'm assuming it's been a positive response just from what we've already talked about a little bit.
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Yeah, it was interesting.
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At the very beginning, I just reached out to all my friends that I knew from PT school, from traveling, had them use it.
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And any PT I actually show the software to, they're like, Yeah, this is no brainer.
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Like, I could just treat my patients.
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Like, that's the
dream of everybody.
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Show up, treat your patients, and go home.
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Um, so at the very beginning, it was the solo people show them comprehend is an easy sell for them to just want it you want to buy it right away.
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Right now, last time I looked, we had about 12,000 people on the platform.
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Um, we're mostly outpatient clinics.
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Um, we have partnerships with most of the major EMRs in the space too.
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Um, so we have a bunch of resellers for us.
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Um, it's grown quite a bit.
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Got a couple really big clinics on, just closed another one um literally Friday last week.
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So we're we're growing pretty quick.
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We had 20% revenue growth month over month for like six or seven months straight.
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That's huge.
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That's that's fantastic.
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I'm I'm I'm happy for you.
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I'm excited.
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Uh that's I know one, you're making a lot of people's lives a whole lot easier.
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Um, you're given the gift of time, right?
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I mean, it's uh like you were talking about how many practice owners are sitting at their kitchen table at night or staying at the office late trying to get caught up on uh on notes.
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And you know, I've worked with clients in the past who getting notes and evaluations in done prevented cash flow.
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Like they would they'd be backlogged and just submitting things to insurance so they could get paid.
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Uh, and we were like, that's your where the problem was is they got this stack of notes sitting over here that they're not even able to get to because they're just overwhelmed.
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Yeah, and I love those um the client testimonials we get and like all the reviews when they come in, and it's I was finally able to spend the weekend with my kids now.
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I don't have to put my kids to bed and go back to work.
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Like those are the ones that I relate to, and like I'm happy that other people are finally getting that freedom too.
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Um, so it's been good for me.
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Um, but I I know we've been helping hundreds and thousands of people now, so yes.
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Well, and I you know, I'm even thinking in the shoes of the practice owner, too, is uh with your team and employees, and so that's another uh pain point uh that I've heard, and I'm curious if that's been the same for you, is that employees are not staying on top of their their note-taking and all those elements, and
so uh this is just seems like it's a way to help really improve that.
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Yeah, we one of our biggest customers is Confluent Health.
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Um, they have 2,500 providers.
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They actually did their own study when they did a pilot with us and then shared it with us, and now we tell everybody.
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Um, they saw a 3.6 X reduction in employee churn and then a 99% note sign-off during the work week.
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So now you're getting paid on time.
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Your employees are staying around, they're happier.
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That alone is saving you money.
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And then once you have therapists there and they're happier, if they see one extra person a month, it already pays for itself for the software.
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Yeah, ma'am, and you know, I I I that's happy employees is so important.
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And there's you know, a conversation I have a lot is how do we pay our team so that they don't go somewhere else and it's really hard uh to be financially competitive.
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I'm like, uh, having no admin, like you know, very minimal admin will say, work that they have to do and they can really just focus on treating patients really is a differentiator, it seems like, right?
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That's that's gonna give you a leg up over another employer who you're gonna be spending hours doing some admin note-taking work.
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Yeah, and it's one of those things where like our cost is$99 a month per user, and then it tears down the more people you have, the cheaper it gets.
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But a lot of clinics will pitch it as like, hey, this is one of the benefits you get at our clinic, is you get comprehend and it's worth this amount of money for you in the long run.
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So, like people use that.
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Like, I being in the cash beat world and hearing what some people offer as benefits is pretty crazy and unique.
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Like, there's one clinic I know that they actually pay for a housekeeper to go to all their therapists' houses during the workday to go like clean the house once a week.
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Um, they're like, it's part of the perks they have at working here.
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I'm like, that's actually interesting.
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And they're like, you buy it in bulk, so you get one person that just goes to the house, want a house per day per week or whatever it is.
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And I was like, that's actually a pretty interesting benefit that I've never even thought of.
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No, I I had never had either.
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I that's um I was just uh recently in my book doing a chapter on just different benefits and ways to uh incentivize, and that's a very interesting one.
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I might have to I might have to add that one in and and quote you because it's uh that's I've like try I'm I'm all about finding creative ways to to value employees, make them feel valued, and it doesn't always have to be more money per hour or more money per visit or whatever it is, it can be a bunch of different ways, and that's yeah, that's a that's a creative one.
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I've never even heard of that.
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Yeah, I I can't pitch that to my employee.
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My employee is my wife, so if I tell her, like, I'm gonna hire a housekeeper for our house, she'd be like, No, you're the housekeeper, yeah.
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Yeah, you do it.
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Uh no, thank you.
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No, that's uh I would love a house manager.
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Maybe that's uh, but that's that's just me being selfish.
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Uh I was talking to a buddy of mine, like, would you rather have a cleaner or a a chef?
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And he was like, Chef all the way.
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I'm saying that's probably true.
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Uh cleaner or chef, what do you think, Chris?
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I enjoy cooking.
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I don't like doing the dishes.
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So if I have the house cleaner that cleans and does the dishes, then it's even better.
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Awesome.
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Yeah, I I want to like cooking, but I just uh I think I've had to come to terms with I just don't enjoy it.
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I want like I love the idea of it, but when it comes time to uh to do that, I'm like, uh, I'd rather do something else.
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So uh, but anyway, back to your businesses.
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So from here on, moving forward, are what do you envision?
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Are you thinking comprehend health is gonna be your your your main thing and you'll stop treating patients?
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Are you always hoping to kind of have a balance of both?
00:17:36.620 --> 00:17:38.380
Uh what are your thoughts?
00:17:38.620 --> 00:17:43.420
Yeah, comprehend is definitely my main thing for the foreseeable future.
00:17:43.579 --> 00:17:45.500
Um, I don't know if I'll ever stop treating.
00:17:45.579 --> 00:17:46.539
I enjoy treating.
00:17:46.700 --> 00:17:51.420
Um, I mean, selfishly, my PT clinic is in a golf sim facility.
00:17:51.740 --> 00:17:55.500
So I have a sim in my office and the big gym area.
00:17:55.579 --> 00:17:58.460
So like I use that as my comprehend office now.
00:17:58.619 --> 00:18:06.859
Um, but my wife, now that she's treating and growing her practice, we'll probably grow our PT practice, hire a few people.
00:18:06.940
--> 00:18:11.420
Um, but comprehend is kind of my main thing now and for the foreseeable future.
00:18:11.740 --> 00:18:13.019
Yeah, awesome.
00:18:13.099 --> 00:18:13.900
That that's great.
00:18:14.059 --> 00:18:21.339
And so uh shifting to the financial side, I think you you mentioned you've you've read Profit First before you started the practice, is that right?
00:18:21.579 --> 00:18:23.339
Yep, yeah, awesome, awesome.
00:18:23.420 --> 00:18:25.180
I'm a big fan of Profit First.
00:18:25.259 --> 00:18:27.819
Are you are you utilizing it at all in the business?
00:18:28.059 --> 00:18:29.579
I'm poking into your numbers.
00:18:29.900 --> 00:18:42.460
Yeah, no, I I use it for my PT practice like to the T, and then found like some things didn't really make sense like from that to like transfer over to PTE, especially more cash-based.
00:18:42.619 --> 00:18:46.379
Um, but I still have I think I have four or five different checking accounts still.
00:18:46.539 --> 00:18:49.980
Yeah, um, and it definitely helps with organization wise.
00:18:50.460 --> 00:18:58.619
Um yeah, I almost did a variation of it for like personal finances too, um, just because it made sense to me.
00:18:58.700 --> 00:18:59.180
Yeah.
00:18:59.420 --> 00:19:12.059
Um the the amount of tax percentage is the one thing I was like, I don't think that translates over to me as a sole PLLC owner, but otherwise it was actually pretty helpful.
00:19:12.299 --> 00:19:17.740
Yeah, so I was like, the tax one is uh uh you know, I set aside, I think so.
00:19:17.819 --> 00:19:19.339
Prof first recommends 15.
00:19:19.740 --> 00:19:22.139
I think I do five percent is what I need.
00:19:22.220 --> 00:19:27.019
It's uh um it varies so and because it also is dependent on are you married?
00:19:27.180 --> 00:19:29.900
Do you have kids, like all these other um things?
00:19:30.059 --> 00:19:32.940
Are you in a state that has state income tax?
00:19:33.099 --> 00:19:39.500
So there's uh so many other factors that come into play that I think 15 is probably just on the cautious side.
00:19:39.660 --> 00:19:42.379
Uh, but customizing it's the right way to do it.
00:19:42.460 --> 00:19:49.500
I think, you know, um, I think when Mike wrote that book, it's you're writing to every single industry uh as a blanket.
00:19:49.579 --> 00:19:51.259
Here's the healthy way to be.
00:19:51.420 --> 00:19:58.139
Um, and you kind of got to stop and say, not only what's best for PTs in my world, but also what's best for me?
00:19:58.220 --> 00:19:58.859
Like, what do I need?
00:19:58.940 --> 00:20:00.460
Well, how much do I need to be taken home?
00:20:00.619 --> 00:20:02.539
Uh, how much do I need for operating expenses?
00:20:02.700 --> 00:20:06.139
I may not need what's recommended, and so there's uh finding that balance.
00:20:06.220 --> 00:20:10.700
But the key is, like you said, you're organized, you got you got clarity, so that's that's cool to hear.
00:20:12.139 --> 00:20:13.980
It's been very beneficial.
00:20:14.220 --> 00:20:15.980
Love it, love it, awesome.
00:20:16.139 --> 00:20:21.259
All right, so I know people are probably chomping at the bit to check out your AI platform.
00:20:21.740 --> 00:20:23.660
So, uh, how can people get connected?
00:20:23.740 --> 00:20:26.139
How can people sign up or learn more about it?
00:20:26.619 --> 00:20:28.700
Yeah, we do demos for people.
00:20:28.779 --> 00:20:34.539
So if they want to sign up for a demo to see how it works, our website is comprehendhealth.ai.
00:20:34.940 --> 00:20:38.379
If you just Google comprehend health, it'll be the one that pops up.
00:20:38.619 --> 00:20:43.259
Um, we integrate with 30 plus EMRs at this point.
00:20:43.420 --> 00:20:48.460
Um, direct partnerships with five of them already and hopefully growing more.
00:20:48.779 --> 00:21:00.379
Um, we're trying to be the AI scribe of choice, uh, but we have social media, comprehend health on Instagram is mostly where we'll be found, LinkedIn to and YouTube as well.
00:21:00.779 --> 00:21:01.819
Awesome, awesome.
00:21:01.900 --> 00:21:05.980
We'll link everything in the show notes so people can find it easily and quickly.
00:21:06.139 --> 00:21:21.259
And um, yeah, I know I'm I'm pretty confident people are gonna be jumping on that because it's like I said, I think it's it's an saves time and money and effort and energy, and the thing that we all hate doing is so that you can focus on the things you we actually want to do, not note-taking.
00:21:21.900 --> 00:21:23.579
That's that's exactly right.
00:21:23.819 --> 00:21:24.619
Love it, Chris.
00:21:24.700 --> 00:21:30.940
Thank you so much for being here and just sharing your journey and sharing uh how you're serving PTs out there.
00:21:31.740 --> 00:21:34.460
Thanks for joining us on the Therapy Business Podcast.
00:21:34.700 --> 00:21:39.339
Be sure to subscribe, leave a review, and share it with a practice owner that you may know.
00:21:39.819 --> 00:21:48.460
If your practice needs help getting organized with finances or just growing your practice, head to therapybusinesspod.com to learn how we can help.