In this episode, Owner and Founder of Velocity Physiotherapy, Erica Meloe, talks about the business of physical therapy. Today, Erica talks about her previous career, how to foster motivation and commitment in patients, and addressing company culture. What does it mean to be out-of-network? Hear about the biggest lessons Erica has learned in her career, the importance of mentorship, and get some valuable advice, all on today’s episode of The Healthy, Wealthy & Smart Podcast.   Key Takeaways “Being an entrepreneur, you need to be able to know what your strengths are, and really work with those strengths.” “I learned over the years to delegate out what I don’t like to do or what’s not in my strengths.” “Practice makes permanent. It does not make perfect.” “If you put a computer between you and your patient, you decrease the outcome by 50%.” Some important definitions Co-pay. This is a fixed amount that’s generally used for an in-network model. Co-insurance. This is based on a percentage of the bill. Balance-billing. This is balancing the bill up to what you typically charge. “Lately, a lot of plans are being reimbursed as a percentage of Medicare.” “A lot of being an entrepreneur is mindset.” “Why reinvent the wheel when someone else has done that?” “Be unapologetically yourself.” “We need to find joy in our life, and whatever that is, we need to do more of that.”   More about Erica Meloe Erica Meloe is a board certified physiotherapist in private practice in NYC. After a decade solving financial puzzles on Wall Street, Erica took her MBA and her problem solving skills into the clinic. She specializes in treating patients with unsolved pain and her mission is to raise awareness of the physical therapy profession to a level like no other. Erica is co-host of the podcast “Tough To Treat. A physiotherapist’s guide to managing those complex patients.” She is also a thought leader in the profession and helps her patients as well as her colleagues empower themselves to lead and live with purpose. Erica’s book “Why Do I Hurt? Discover the Surprising Connections That Cause Physical Pain and What To Do About Them” was released in June of 2018. She has also been featured in Forbes, BBC, Women’s Day, Better Homes and Gardens, Muscle and Fitness Hers and Health Magazine. Erica is also fluent in Spanish and loves traveling!   Suggested Keywords Physiotherapy, Therapy, Health, Motivation, Commitment, Consistency, Practice, Entrepreneurship, Culture, Mentorship, Business, Mindset, Healthy, Wealthy, Smart   To learn more, follow Erica at: Website:          https://ericameloe.com                         https://toughtotreat.com                         https://www.velocityphysiony.com Facebook:       Erica Meloe PT                         Velocity Physio NYC                         Tough To Treat (Podcast) Twitter:            @EricaMeloe                         @VelocityPTNYC Instagram:       @toughtotreatpodcast Pinterest:         @emeloe LinkedIn:         Erica Meloe                         Velocity Physio YouTube:        Tough To Treat Business Round Table on July 27, 2021 at 8:00 PM EST  Subscribe to Healthy, Wealthy & Smart: Website:                      https://podcast.healthywealthysmart.com Apple Podcasts:          https://podcasts.apple.com/us/podcast/healthy-wealthy-smart/id532717264 Spotify:                        https://open.spotify.com/show/6ELmKwE4mSZXBB8TiQvp73 SoundCloud:               https://soundcloud.com/healthywealthysmart Stitcher:                       https://www.stitcher.com/show/healthy-wealthy-smart iHeart Radio:               https://www.iheart.com/podcast/263-healthy-wealthy-smart-27628927   Read the Full Transcript Here:  Speaker 1 (00:04): Hey, Erica. Welcome back to the podcast. It is always a pleasure to have you on, so thank you for coming back. Speaker 2 (00:11): Thanks. Thank you Karen, for asking me, I can't believe it it's been, I remember our first podcast was probably 10 or 11 yeah. Year