Top 10 Things You Can Do Now
Here are the top 10 ten things you can do to prepare for clinic ownership. Call our business advisors and get professional help to ensure your future success.
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 therapy and 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 rehabilitation as a component of their practice)
- Specialty areas to target include orthopedics, 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 small businesses? 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 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
