We recently connected with Erica Franks and have shared our conversation below.

Erica , thanks for taking the time to share your stories with us today Let’s jump right into the heart of things. Outsiders often think businesses or industries have much larger profit margins than they actually do – the reason is that outsiders are often unaware of the biggest challenges to profitability in various industries – what’s the biggest challenge to profitability in your industry?

When you see a Physical Therapist (PT) now in 2023, we have a Doctorate level education and tons of letters behind our name. These letters mean that we have advanced Board certifications, completed residencies, and taken long hours of training and testing for additional certifications to perfect our craft. But what comes with that, are low paying jobs in our field because of insurance reimbursement rates. We are in high demand and will always have a job which is great. However, we are not paid for what we are really worth after the level of education we have received and continue to achieve.

I’ve worked for bigger companies in the past and was always seeing 2-4 patients per hour and never really understood the salary or the reasoning before I became a business owner. Now as an owner, I’m seeing what some insurance companies reimburse us per session after we have treated someone which is disheartening. Most companies reduce payment by 75%. Therefore, most insurance-based PT companies rely on volume to survive. Other PT owners are turning to cash-based practices to make a profit.

The challenge with a new company, has been gaining the volume to sustain because of the low reimbursement rates provided. In addition, the process of getting paid from insurance companies can be lengthy.

I chose to accept mainly insurances because of cost inflation. People cannot always afford a self-pay rate. Most pay a lot into insurance premiums and want to use their insurance for PT.

As a PT, I really love what I do and helping people get better, but it’s not about making a huge profit.

Great, appreciate you sharing that with us. Before we ask you to share more of your insights, can you take a moment to introduce yourself and how you got to where you are today to our readers

My name is Dr. Erica Franks and I’ve been an Orthopedics Physical Therapist since 2008. I am the owner of Invigor Physical Therapy, LLC which was established in 2014 for orthopedic patients within their homes. In 2022, I opened within a gym space in Marietta, GA.

Growing up, I began dancing at the age of four years old. I also was a cheerleader, on several dance teams, played soccer, tennis and loved swimming. I attended Howard University and majored in Dance Arts. While at Howard, I struggled with a knee and ankle injury and took an interest in the field after seeing several therapists. My third year at Howard, I switched my major to Pre-Physical Therapy with a minor in Dance Arts. From there, I’ve always been intrigued in orthopedics because of my sports background.

In 2005, I graduated Magna Cum Laude from Howard University and subsequently earned my Doctorate of Physical Therapy degree from Emory University in 2008. I received my advanced board certification in orthopedics in 2013 becoming an Orthopedic Certified Specialist (OCS). I then later became certified in Dry Needling (Cert. DN) and then certified as a Kinesio Taping Practitioner (CKTP). I’m also a member of Delta Sigma Theta Sorority, Inc. I currently sit on the Career Technical and Agricultural Education Board-Sports Medicine Pathway for Benjamin E. Mays High School.

My dance experience includes competitive and professional training at: Howard University Dance Program, Alvin Ailey Summer Dance Intensive, Super Bowl XXXIV Performing Dance team, Dallas Black Dance Theatre Internship, Debbie Allen School of Dance Summer Intensive Internship, Ballethnic Dance Academy, Price Performing Arts Center Senior Company and Phyzix Urban Dance Theatre.

My awards include Top Doctors of America in 2023, which I’m the only PT in America awarded. I will also receive the Pioneer Award from Tuskegee University Atlanta Alumni chapter on May 27, 2023, for excelling and being a pioneer in the field of physical therapy.

My clinical experience includes treatment of Orthopedics and Sports Medicine cases and Vestibular Rehabilitation at Benchmark Physical Therapy, Select Physical Therapy and Luna Physical Therapy; home healthcare with Gentiva and Kindred Healthcare and Emory University Hospital Midtown. I’ve also worked as the Clinical Director at Genesis Sports Medicine and Rehabilitation-Cascade.

My passion is providing treatment for dancers and athletes and all orthopedic injuries. I’m grateful for a growing practice, my patients and their families. I proudly offer a wealth of personalized services for positive results. The services I offer are: Outpatient Physical Therapy, Injury Prevention, Manual therapy, Core stabilization, Orthopedics, Concussion management, Dry Needling, Kinesio Taping, Benign Paroxysmal Positional Vertigo treatment (BPPV), Vestibular Rehabilitation, Instrument Assisted Soft Tissue Mobilization (IASTM), Myofascial Cupping, Sports Performance, TMJ Rehabilitation, Total joint replacement, Pre rehab/Post-surgery, Wellness- Cardiac Phase III-IV, Diabetic, High Blood Pressure, Weight Management, Blood Flow Restriction Training, and Work Conditioning.

Let’s talk about resilience next – do you have a story you can share with us?

This journey has definitely not been easy, I was working as Clinic Director with my last company and my patients and mentors kept telling me my calling was something more. I prayed about the business and one day I just started writing in a journal my business plan and ideas. I said to someone recently, “I’ve quit in my mind several times this past year.” My patients who drive 45 minutes to an hour to see me give me daily motivation.

What most don’t know about my story is that to achieve my goal, I sacrificed and gave up a lot. I turned down several job offers and Director positions. I also walked away from partnership and franchise ownerships and decided to do this by myself.

When I started looking at clinic locations with my realtors, I knew I couldn’t afford what I really wanted because of inflation right now with real estate. I then decided to sell my home in 2021 to have money to start a business and moved in with a family member to save. I was told by one of my mentors, when you go into a business you have to keep your costs low. So, I always keep this in mind.

I opened within a gym space on June 1,2022. Credentialing with insurance companies took 60-120 days which put me behind with patient care while still paying overhead, marketing, and paying for supplies and equipment. My volume started picking up in October and has been continuing to gain momentum.

I have an office manager who is currently on payroll but what most people don’t realize is that as an owner you don’t pay yourself for a while beginning a business. Therefore, I have to continue to work a contract job as well seeing mobile patients, see patients for the business and market weekly. My drive time most days between patients within the gym and mobile patients are 100-125 miles. In the end, I’m still living off my savings which I’m grateful to have.

Most don’t understand that once you’re a business owner, you will make things work by any means. I make it look easy to most people but trust me I’m tired.

How did you put together the initial capital you needed to start your business?

As a female business owner, we are not offered the same capital to really start a business from any bank or credit union. I learned this early on from several networking sites with other women business owners. Sure, there are grants that everyone tells you to apply for, but because they are so competitive you don’t get.

I started Invigor Physical Therapy with a small business line of credit which was discussed with my financial advisor beforehand. I then put in a small portion of my savings as well.

Contact Info:

• Website: www.invigorpt.com
• Instagram: www.instagram.com/invigorpt
• Facebook: https://www.facebook.com/profile.php?id=100076169705146

Image Credits
Professional image only: Shoccara Marcus @shocphoto