For Physical Therapy Practices, How Are Costs Usually Determined

question 6

Multiple Choice

For physical therapy practices, how are costs usually determined?

• A) Costs per fiscal year
• B) Costs per month
• C) Costs per patient visit
• D) Costs per patient

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Definitions:

Budgets

Financial plans outlining an organization's projected revenue, expenses, and cash flow over a specific period.

Marketing Mix Plans

Strategies that involve the adjustment and optimization of product, price, place, and promotion to effectively engage with a target market.

BCG Matrix

A strategic planning tool that uses two variables, market growth rate and market share, to evaluate a company's product portfolio.

SWOT Analysis

A strategic planning tool that stands for strengths, weaknesses, opportunities, and threats, used to identify and analyze the internal and external factors that can impact a project or business venture.