Mike Strakal

Franchisee in Tulsa, OK

"I almost ran my MBA from Notre Dame through a paper shredder after going through FYZICAL’s business training. After 25 years, my wife and I built a $993k practice. In just two years with FYZICAL, that same practice has increased to $1.56 million."

Mike Strakal FYZICAL Franchisee Success StoryMy name is Mike Strakal. I’ve been in private practice for over 40 years. I guess you could say I’ve been around the block. Even though I had been very successful for 40 years, the combination of challenges were building up against me and frankly, I was tired of it. From compliance, to changes in employee rules & regulations, declining reimbursements, and all of the other issues we’re facing as private practice owners… I was done fighting the fight alone.

Meeting FYZICAL

The first meeting I attended was in Las Vegas. I went into the meeting very skeptical, and regrettably, cynical. As the presentation went on, and I started hearing what the benefits of FYZICAL were, and how they truly were speaking to me as a knowledgeable PT, I started listening more intently and realized what this opportunity truly entailed. I saw an opportunity to become part of a group of independents all on the same mission and became a member of FYZICAL in 2015. I couldn’t be any happier about joining the FYZICAL family.

Wake-up Call

Prior to joining FYZICAL, I felt I had proficient business/management skills (I graduated with an MBA from Notre Dame). After attending FYZICAL Lab and my Strategic Planning session, I almost went home and sent my degree through the paper shredder. After diving in to the “Library of Success”, “Vital Statistics“, the “Pillars of Success,” it didn’t take me long to realize I didn’t know nearly as much as I thought I did. FYZICAL allowed me to take what was a good business, and turn it into a great business.

What has been truly amazing is that I’ve been able to accomplish these numbers with the existing staff I had when I joined FYZICAL.

The biggest inefficiency I had was I really didn’t know where my referrals were going to come from. I kept good stats (or so I thought), I marketed to physicians, but I didn’t know exactly what was going on when referrals were slow. Now, I have a plan, I can look at my daily management report, see the number of referrals, the number of cancellations, no shows, etc. in the past day, week, or month, and I can see if it I’m off budget. If it is, I am on the phone with my marketing liaison and my clinical directors, and I can identify what seems to be the problem and establish an action plan to reverse the challenge. Before FYZICAL, I didn’t have these tools to know what was going on daily. I now have a 5 year budget, with a daily management report, clinical productivity report, and so much more, and it doesn’t take more than 15-20 minutes to make sound business decisions. I am now managing my business like a business man.

Mike Strakal financial snapshot fyzical franchisee success storyBusiness is in Order

After getting my current business in order, it was time to focus on my next goal, balance. It was clear from the start. I didn’t have a true unique selling proposition prior to FYZICAL. Sure, my practice had specialists in spine, hand, etc., but, so does everyone else in orthopedics. I saw a major opportunity with FYZICAL’s balance program, and this was another major reason I joined FYZICAL. Over the last year and a half, I am proud to say my practice has become a Level 3 certified balance center, and it has led to significant growth in my practice, and I have been able to help a heck of a lot more patients in my practice.

What has been truly amazing is that I’ve been able to accomplish these numbers with the existing staff I had when I joined FYZICAL. Obviously, you can imagine one of our inefficiencies was low productivity. When I joined, my pillars of success were completely out of whack, but I didn’t know it because I had no way of knowing it. Until FYZICAL. I’ve been in business for a long time, and obviously I have different goals than someone who just started in business. My goals are to operate 5 FYZICAL centers, and establish an exit strategy for my wife and I. I would have never been able to build what we are building today without FYZICAL, and I couldn’t be happier with my decision to join. From one practice owner to another, I get it. I was skeptical too. But I am sure glad I made that trip to Vegas for PT Revolution. I recommend you do the same, you’ll be glad you did.

FINANCIAL SNAPSHOT

  • 2015: Our revenue was $993K
  • 2016: Our revenue was $1.25M
  • 2017: Our budget for this year is $1.56M
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