Case Study Subject: Marketing

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Instructions
I’m doing Marketing Plan for Teaneck Orthopedic Physical Therapy, LLC located in  1182 Teaneck Rd # 101, Teaneck, NJ 07666.

Based on the outline write a SWOT analysis.
1. Strengths
2. Weaknesses
3. Opportunities
4. Threats
Outline:

Strengths:

  1. The office clinic is located on a busy street, accessible by foot traffic and transportation

  2. The office provides one-on-one care

  3. The office is flexible with patient’s schedule

  4. Low overhead compared to bigger PT clinics

  5. A primary care provider is nearby

  6. Office is just 1-2 miles away from the hospitals and doctor’s offices

  7. The PT has a doctorate in physical therapy,

  8. The PT is an Orthopaedic Clinical Specialist Certified by the American Board of Physical Therapy Specialties

  1. In-house billing

  2. Growing population of baby boomers

  3. Cash-based service

  4.  Low debt

  5. Covered by liability insurances business and professional

Weaknesses:

  1. Small startup business

  2. Undercapitalized

  3. Understaffed: 1 PT and 1 staff

  4. Being a separate private practice

  5. No connections with any specific medical practice for referral source

  6. Multiple competition around that offer more services

  7. Poor marketing plan

  8. Company website and facebook is not great

  9. Small office space

  10. PT no formal billing training

  11. Caters to HMO’s–very low reimbursement

  12. Unable to offer good benefits to employees

Opportunities:

  1. Office can add more services such as: occupational therapy, hand therapy, homecare physical therapy, medical gym, pelvic rehab, men’s health.

  2. Expand to bigger space

  3. Add more staff such as a full time office manager and a biller.

  4. Catering to minorities in Teaneck Area: Jamaicans, hispanics, indians

  5. Tie-up with medical groups such as Englewood Physician Partners or Holyname Hospital Medical Group

  6. Sign contract with Big Companies such as Costco or Walmart for worker’s compensation

Threats:

  1. Medical groups that owns physical therapy clinics

  2. Hospitals

  3. Low resources: capital

  4. Diminishing rate of reimbursement from insurances

  5. Changing regulations from Medicare and other insurances such Blue Cross Blue Shield, Cigna, Aetna, United Healthcare, etc…

  6. Patient suddenly dropping off treatment

  7. Unprofitable location of business

  8. Unprofitable customers