I was asked this morning to write down my top 10 tips for what to avoid when starting a cash based practice. Since I always prefer to think in terms of positive ideas, I’m answering here with my top 10 tips of what TO do! I hope that this list is helpful: 1) Get really clear on your UVP and mission. Live it, breathe it. 2) Work with an attorney to set up your articles of incorporation, LLC, and all legal documents. 3) Obtain professional liability insurance. 4) Research your location. Talk to other business owners in the area. 5) Keep overhead low. 6) Negotiate a situation where you pay only for the time you are actually using the space. 7) Build relationships with everyone in the neighborhood where your office is located. 8) Do trades with personal trainers and massage therapists so they can get a feel for what you do (and refer clients that are appropriate). 9) Start at a pace comfortable for you (keep your day job and start with one day a week, or one patient a week, or whatever is financially a good decision for you). 10) Have a website (even if it’s simple). I love to help other therapists start their journey toward being an owner. If you found these tips to be valuable, you might want to check out my Webinar, Starting a Cash Based Practice. I cover these topics and more, to help you get on the path to building your ideal practice.
Read more →So there has been a good deal of underground rumbling going on in the PT world this week. Because I like to be well informed (i.e. I’m a nerd), I participate in all sorts of social media to stay on top of things. Using Facebook, Twitter and LinkedIn allow me to “talk” with people all over the world and hear about trends. The trend I am paying attention to this week is that PT’s in private practice are mad! And you, the consumer/patient, should be mad too! Why should you be mad? Because no one fully explains your rights to you as a patient, and things are going on that affect you, and you have no idea about it! The issues that affect you and your ability to access the health insurance you pay for every month include the following: 1) You have a choice of where you want to receive physical therapy. Your doctor can make a recommendation, but cannot require you to go to a specific PT clinic (especially one that he/she owns). This is actually illegal; but, it happens all the time. If I had a dollar for every time a patient told me, “I had no idea I could go somewhere else” I would be a rich woman. When your doctor recommends physical therapy (or when you ask your doctor for a physical therapy referral, which is also your right as a patient), they can give you a list of options for your care. They can also mention that they have a physician owned physical therapy clinic (POPTS) next door or across town, but they cannot require you to receive your therapy there. emergency same day loansforeign country would 2) If you want to see a therapist who does not participate with insurance companies, call your […]
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