It may have crossed your mind at one point or another that it's time to branch off and begin your own PT clinic. When first beginning this process, people will tell you that this will cost you thousands and thousands of dollars, but that doesn't have to be the case. Here are a few money-saving tactics you can implement into your physical therapy practice management and clinical operations from the start.
1. Necessary Equipment
When purchasing equipment, work toward being creatively efficient. Scour the web for PT blogs addressing the matter and price comparisons between companies. Most patients don't need to see the most high-tech, fancy or most expensive equipment - they just want what works. In fact, is likely that they won't have access to those machines at home, so training them on equipment they can actually use may be very beneficial. By simply doing your own form of physical therapy practice management research, you'll be able save a significant amount of money.
2. Clinic Office Size
Right now, you may think it's important to invest in a large space - mostly because you want your equipment to fit. However, you could cut costs by investing in a smaller office - thus saving even more on smaller machines that will fit nicely. Instead of paying for extra space you aren't using, fill the space accordingly. Then, if you need to expand once your business takes off, you can do so!
3. Beginner's Marketing
When you're just starting out, keep in mind that you just need the necessities: a business card and a letterhead. There's no magic spell you can use to conjure up new patients. What you can do is utilize your time wisely. Go out in the community and get to know people and tell them what you're all about. If you are even more technology driven, consider beginning your own website consisting of PT blogs that interested patients, personal trainers or physicians can visit for more information about who you are and what you plan to offer.
4. Physical Therapy Practice Management
There are methods you can utilize to get your business running in a more affordable way. One way, is choosing your billing option. You can outsource your billing to a medical billing company who will take somewhere between 5 and 12 percent. However, in the long run this may actually save you money, as you won't have to purchase expensive software or hire and train a new employee. If you'd rather invest in more tech-savvy software, try using Square. This piece of technology is quickly making its way into businesses everywhere. It costs about 2.75 percent.
When it comes to starting your own clinic, try these tips for saving as much as possible, and as you continue to grow and expand, you'll be able to make additions to your office, practice management and staff.
