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The Private Practice Barometer: What Is The State of the MSK Industry? · MSKMag OutLoud

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  SPEAKER_00: The Private Practice Barometer.
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  SPEAKER_00: What is the state of the MSK industry?
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  SPEAKER_00: Written by Mark Reed.
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  I think I know the MSK mag audience well enough to know that
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  we're a bunch that
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  SPEAKER_00: does love some evidence.
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  We debate the nuances of treatment techniques and we even
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  sometimes read past the
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  SPEAKER_00: abstract of the RCTs we're citing.
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  SPEAKER_00: We do this for a simple reason.
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  We want to provide the best possible care based on what is
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  actually happening on
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  SPEAKER_00: the ground rather than gut feeling or outdated traditions.
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  SPEAKER_00: Yet...
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  When we step out of the treatment room and into the business,
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  that rigour often vanishes.
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  We operate our clinics by feel,
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  doing what we think is best without truly knowing.
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  SPEAKER_00: It's not entirely our fault either.
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  SPEAKER_00: There actually isn't that much data to guide us.
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  SPEAKER_00: What is it that makes a successful clinic owner successful?
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  SPEAKER_00: What are the most profitable clinics doing differently?
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  SPEAKER_00: No one really knows because nobody has ever asked.
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  SPEAKER_00: So we're instead left with gurus to guide us on the business.
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  SPEAKER_00: The exact thing we abhor.
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  HMDG launched the private practice barometer late last year
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  with a simple aim.
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  Collect anonymous data from MSK clinic owners to finally answer
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  some of those
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  questions regarding the business side of the industry and the
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  people that are
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  SPEAKER_00: running it.
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  And despite the protestations from some who wrongly believe the
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  intention for the
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  survey was some secret other reason that they'd entirely made
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  up in their heads,
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  SPEAKER_00: over 700 volunteered some data and answers have been found.
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  SPEAKER_00: Huzzah!
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  SPEAKER_00: Now, I can't leak all of the results yet.
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  SPEAKER_00: That will come soon, I promise.
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  But what I can do is handpick some of the points that I think
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  are of particular interest.
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  I'll start with the question that I was most intrigued to see
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  the answer to.
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  SPEAKER_00: What is the daily reality for most clinic owners?
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  SPEAKER_00: Are they happy?
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  SPEAKER_00: Are they stressed?
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  SPEAKER_00: Are they too busy counting their cash to care?
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  There is an aspirational narrative often sold to clinicians
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  about opening your own
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  SPEAKER_00: clinic that it brings complete clinical freedom and wealth.
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  SPEAKER_00: Surely.
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  SPEAKER_00: Well, it turns out maybe not quite.
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  One uncomfortable truth staring out of the data is that the
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  median MSK clinic owner
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  SPEAKER_00: earns around £48,000 annually,
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  SPEAKER_00: far below the compensation you would expect of any CEO.
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  The reason I find it particularly interesting data point is
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  that the amount is also
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  SPEAKER_00: about the market rate of a senior clinician.
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  SPEAKER_00: In fact, it's less than a band seven salary in the NHS.
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  And yet the responsibilities of running a clinic along with the
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  risk involved comes with