10 Things You Can Do Now
Here are the top 10 ten things you can do to prepare for owning your own private clinic. Call our business advisors at 800-580-6285 and get professional help to ensure your future success. After you talk to us and you are thinking about pursuing ownership with USPh, consider doing these 10 things as you move through the process of becoming an owner.
People refer to people they know
- Get to know a lot of people in the healthcare community
- Build personal relationships with referral sources by asking them what they want from
physical therapy servicesand meeting that expectation
- Get to know all the people in busy doctors' offices (nurses, PAs, referral coordinators, business office managers)
- Engage in community activities (health fairs, Rotary, business associations) - get your "name" out in the public
Identify target physicians who could support your business and learn more about their practices
- Track referral patterns to gauge advocacy of therapy (do they "believe in" therapy and actively support outpatient rehabilitation as a component of their practice)
- Specialty areas to target include orthopaedic physical therapy, neurology, neurosurgery, internal medicine, occupational medicine, family practice
Gather information about the managed care payers in your area
- What are the major plans in your area?
- Determine if the provider panels are open or closed
- Find out reimbursement rates and methodology (fee for service, flat rates, fee schedule)
Determine if there are statutory issues that would prevent starting a rehabilitation practice
- Does the state or municipality have a certificate of need requirement for healthcare entities?
- What is the business climate for a small physical therapy business? Does your state have a corporate practice of medicine law that would limit your options to partner?
Study your own practice patterns
- What are your areas of specialty? Are your skills marketable?
- Can you treat a wide variety of out-patient conditions?
- What is your own productivity? Can you document your patients' outcomes
- Use caution in signing legal documents (employment, non-competition, non-solicitation agreements) that may limit your options to practice in your home area
- Get involved with associations as a way to network with other physical therapists
- Accept opportunities for leadership and management in your current practice setting
- Recognize that ownership is a career change, not a job change
- Make a commitment to live in the market