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2009-03-02T03:57:41-08:00
<p><p style="margin: 0in 0in 0pt">Who wants to start a physical therapy business? Hanging a shingle isn’t enough. A large population of people in pain, who want to get back to life, exists. It should be very easy to maintain a steadily thriving business. Well… that isn’t necessarily so.</p></p><p><p style="margin: 0in 0in 0pt"> </p></p><p><p style="margin: 0in 0in 0pt">Business barriers are overwhelming. How many businesses have a model where “value” doesn’t really matter? I mean, if you go to the store to purchase a MP3 player, you’ll have a variety of options. You choose the MP3 player based on benefits and features. The physical therapy world is different: customers receiving services are removed from determining value because insurance companies determine what will be paid without regard to the charge on submitted claims. In other words, it would be like going to the grocery store and saying, “I don’t agree with the $165.80 bill, I’m only going to give you $100.” It’s a whole different world out there for physical therapists.</p></p><p><p style="margin: 0in 0in 0pt"> </p></p><p><p style="margin: 0in 0in 0pt">First, do the majority of people know what physical therapists do? Physical therapists are the best darn secret in the medical world! Unless you are employed by Starbucks in Seattle, the local community has to be informed. Second, a small clinic has no negotiating power with insurance companies. Not all insurance contracts reimburse reasonably. A physical therapist owner has to know the cost of doing business to determine if participating with an insurance company is a sustainable decision. Third, often times, the insurance company dictates that physicians refer subscribers for physical therapy services. This means that physical therapists really do need to educate the whole community – physicians, large employers and those who live in the community.</p></p><p><p style="margin: 0in 0in 0pt"> </p></p><p><p style="margin: 0in 0in 0pt">So why would a physical therapist choose to own a physical therapy clinic? Simply speaking, merging the thrill of the barriers with the satisfaction of seeing people move forward in life is an adventurous ride. Words cannot describe how it feels to be a part of someone’s life and assist with the journey in returning to life. In striving to really do things better, sometimes the best option is to take a risk and become self-employed. A vision and a strategy of “care enough to compare” should impose value. It is a delightful challenge to outperform a competitor. Physical therapy is about changing lives, one life at a time. The honor and privilege to serve and better the lives of others are priceless; conquering the business barriers is exhilarating.</p></p>
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2009-04-29T10:03:02-07:00
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The 3 P's: Passion, Perseverance, and of course, Patients!
2009-11-07T16:16:46-08:00
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