Physical Therapy Business Starting Point
According to ratracemutiny.com many physical therapists are content working for hospitals, or a physical therapy medical office. However, some have the itch to start their own business. You can work out of your home and travel to client’s homes, or you can set up a brick and mortar physical therapy clinic. You will be your own boss and have the flexibility to set your own schedule.
The Federation of State Boards of Physical Therapy administers the nationwide test of physical therapists. To qualify for the exam you must hold an advanced degree in physical therapy from an accredited institution. Once you are licensed you may want to gain actual experience in the field by working for someone else. Once you have acquired enough working experience you can then confidently consider going it alone.
If you are going to run a physical therapy business then you are going to need equipment and promedxpress clinical supplies, like tables, stools, adjusting tools, weights, exercise equipment, exam room supplies, gloves, and even office supplies. The supplies and equipment you choose must be of the best quality if you expect to project a professional image. You will also need a computer, along with inventory and accounting software. In addition, you must have proper insurance coverage to safeguard your equipment, and since you are engaging in a medical profession consult with your insurance agent regarding liability and mal-practice insurance.
The Therapy Newsletter says if you are going to start a physical therapy business you must have a mission statement. The mission statement tells clients what your vision is and allows you to achieve specific goals. You will also need a workable and viable business plan. If you are seeking to finance your business banks will require a detailed and well thought out business plan. You will need to have a step by step plan that is doable, yet not overwhelming.
When you are in the physical therapy business you must be attentive, focused, and persistent. You will run into obstacles, especially in the beginning. If you treat them as bumps in the road and develop strategies to overcome them you will be fine. If you see obstacles as the end of your business, you will fail. Lean from obstacles and problems and become stronger from overcoming them.
Private Practice Success states that the physical therapy business is booming because of the aging baby boomer population. This group of people is huge and they have aches and pains that must be addressed. This group doesn’t simply want to lessen their pain. Indeed, they have no intention of slowing down. They want to maintain their active lifestyle, and physical therapists are in a position to make a significant contribution to this group. If you are just starting out traveling to boomer homes is a great way to start a therapy business, because affluent baby boomers love to be pampered.
As a budding entrepreneur you might think there is no room for another physical therapist business. You needn’t worry, because as the baby boomers continue to age there will be more than enough business for everyone. If you are good, patients will tell their friends and neighbors how wonderful you are and this type of referral business is as good as gold.
In the end, while many physical therapists are content to be employees, others want to branch out on their own. First, you must have the proper education and pass a national physical therapist exam to become licensed. Gain experience, and then develop a business plan, write a mission statement, find a supplier, and then market your physical therapy practice.