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Go slow when going solo
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April 20, 2000: 8:33 a.m. ET
Work for another physical therapist before opening your own practice
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NEW YORK (CNNfn) - Dear Jane: I'm a physical therapist working for a long-term care company. I've attracted a lot of new clients through word of mouth and I think I want to open my own business. How should I start?
There is a big difference between showing up for work at a big, well-established facility and starting your own physical therapy clinic. You will not only have to draw clientele, but you'll need quite a bit of capital to open an office and outfit it with all the equipment you need.
I would suggest making a transition from your current job to a position in a smaller clinic. This way, you'll quickly get a feel for whether or not you can handle the responsibility of owning your own business. You may be able to buy a share of a small clinic that is already established, rather than starting from scratch. If you decide to go out on your own, be sure you fully understand all the state and local licensing requirements. There are many affecting physical therapists.
You will have to hire a skilled billing person to keep track of insurance reimbursements and all the other paperwork involved. I strongly recommend that you get as much experience as you can working with another independent therapist before you make the leap on your own.
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ApplegateWay
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