Welcome to Physio First’s new newsletter
Our new name, “The Core”, has come from a combination of our old publication, Update, and what our newsletter means to Physio First.
We used “The Core” when talking about the articles at the beginning of Update – so that is where our new name started. We also quickly concluded that, like Update, our Physio First newsletter pulls together the essentials of what is going on within our marketplace as well as within Physio First. So, combine that with just how central “The Core” is to what we try to address with our patients, and the name came together naturally.
Our move to an electronic newsletter not only makes production swift and efficient, it critically enables us to measure engagement. So based upon what the metrics tell us about what articles you read and what you do not, the content of The Core will be shaped – something that was impossible before. This means we can produce this nine times per year instead of four and share information in a more timely manner.
So to this, our very first edition…
The thumbnail of each article gives enough insight to encourage you to dive a little deeper into content and removes any need for me to refer to them. So I can limit my editorial to some overall observations that my role as Chairman affords. Please do note that this first edition of The Core is a little longer than we expect it to be because it is our very first and it covers a longer period.
Demonstrating and commercialising value
Since our final edition of Update in May, I feel encouraged that Physio First’s judgment of how the private healthcare marketplace is developing is very accurate. There is no doubt that our marketplace is on the cusp of major changes, all of which boil down to each marketplace stakeholder having to demonstrate their value and then commercialising it – from the giant private medical insurer to the single- handed practitioner whose patients are mainly uninsured self-payers.
Demonstration of value is really what the marketplace means by quality. Everywhere our Physio First representatives have been – from the sector-wide MSK working group on quality, to the wider healthcare sector summit, to international physio conferences abroad – we see feverish activity in this area. As you will see from our articles, although Physio First is way out in front with our QAP scheme, every other stakeholder in every healthcare marketplace is going to catch up very quickly – so we have a window of opportunity right now.
This window of opportunity takes me neatly to my second point – that of commercialising our value.
To commercialise our value is not to abuse or take advantage of anyone, least of all our patients. It simply means “to apply business principles to our value”. Our judgement, based upon all of our interaction with the healthcare marketplace, is that every stakeholder will not only have to have an attitude that is up for proving our value but will have to engage in a means of doing so. And an attitude to constantly improve it. This will become our new marketplace reality – and soon!
Collaboration is key
This takes me to my third and final point.
We have said many times that, as Physio First, in our endeavour to champion evidence-based, cost-effective private physiotherapy with Physio First members in the changing healthcare marketplace, we cannot do it alone. Well it turns out that neither can anyone else, although many will try!
We believe it is inevitable that stakeholders in our marketplace will have to collaborate at some level – from private medical insurers, to commercial intermediaries, to self-owned provider businesses (such as The Physio Co-op), to individual practices whose income comes purely from uninsured self-payers. Our self-employed private physiotherapy marketplace and our combination of insured and self-paying patients means that, for the majority of us at the moment, our marketplace remains very buoyant. Our individual challenge however is what do we do next? How do we get ready to compete in this new future? How do we grow? How do we prepare to sell to our successors?
The answer: We do all of this through having the wit to commercialise our value; the tools to do so are our Physio First Big 5 unique member benefits. We are not alone and we can future-proof with Physio First… together!
My best wishes.
Member benefits include...
- Endorse your practice with Physio First