Today we discuss the various ways to go about opening your Startup in physical therapy private practice. It can be frustrating working for someone else, especially if you have a natural leader/entrepreneur mindset. Although there is a lot you should know before opening a Startup, not knowing is never an excuse for not doing. If you’re ready to take some initiative, tune in to learn your Mobile PT, Cash-Based and Insurance/Traditional Model options.
Key Takeaways/Points
- Not knowing is NOT an excuse for not doing
- Mobile PT: Outsource your billing!
- Must be able to confront money
- *We do not recommend that you Startup with a partner
- You’re going to need an EMR System
- 12-24 sq. ft. location
- We have an exact timeline for starting up (Gantt chart)
- SBA loan
- Traditional model = Insurance-based
- Cash-based income verticals
- It won’t work if you’re just chasing money
- Establish your pro forma
Resources
Brian Gallagher, PT is the founder and CEO of MEG Business Management, LLC. He has more than 27 years of experience in the field of rehabilitation and 19 years in business and specializes in Physical Therapy practice management and executive coaching nationwide. As a licensed business management consultant, Brian has helped hundreds of business owners nationwide improve their business operations through proper restructuring to achieve improved systems of efficiency and productivity as well as marketing and sales with effective public relations which have proven results for double-digit growth year-over-year with businesses around the country.
