Our contributing blogger today is WebPT Member, Jack Sparacio, MSPT, COMT, CFMT. He is also the Owner and President of Sparacio Physical Therapy P.C. in New York. We're excited to have Jack sharing his expertise. Thanks Jack!

I know what you’re thinking. There is no way you can open an outpatient private practice for less than $8,000. But the truth is, you can.  There are plenty of articles out there that will tell you that opening a private practice requires tens of thousands of dollars and a team of accountants, lawyers and consultants. While that might be the case for some people, it does not have to be the case for you. All it takes is a little creativity and being a cheapskate. Let’s call it being “creatively efficient” (cheap). Of course, you will need patients. We will discuss getting patients later. 

Let’s first take a look at what I mean by being creatively efficient.  Buying equipment for your office does not need to break the bank. And with the Internet, you can quickly compare prices to save significant amounts of money. Why spend $3,500 on a high-end Ultrasound-Electric Stimulation Combo Machine when you can buy separate portable ultrasound and electrical stimulation units for about $100 each?  You will have a lot of choices to make.  Just make the more efficient choice. You can buy a $3,000 automatic high-low treatment table or an economical wooden table (with an adjustable backrest) and a step stool for under $500. Or, watch for other clinics going out of business and you may be able to snag a high-low table at a discount. You can buy electrodes for $10 per pack or for $2.00 per pack (which I just did recently).  You can buy massage cream for $28 a jar, or for $14 a jar. You get my point. Just do a little bit of research and you can save more than 50% on most items. Use your referral and peer resources and networking to find good deals. Most patients don’t care about fancy bells and whistles. They just want to get better.

Furthermore, there is a very practical method to designing your office. Do you need to buy bulky and expensive exercise machines or can you accomplish the same goals with smaller less expensive materials?  A great idea is to utilize different length ballet bars attached to various positions (top, bottom and middle) on a wall. You can then attach various sport-cords and resistance bands for patients to perform hundreds of exercises.  Also, keep in mind that when designing an exercise program for a patient, they are not going to have access to that expensive exercise equipment at home. Giving them exercises in your office utilizing sport-cords and resistance bands are reproducible and practical. Moreover, not having all those large exercise machines will enable you to utilize your space more efficiently. Do you need to rent the 3,000 square foot office and pay rent for space you are hoping to grow into? Or can you get your practice up and running in the 800 to 1,000 square foot office for one-third the rent? Growing out of your office is a better problem to have than paying for space you are not utilizing. Subleasing space from other health professionals or health clubs can also be an affordable alternative. 

When it comes to marketing and acquiring patients there are only a few things you will need. You will need business cards and letterhead.  At this time, you do not need to spend money on any other marketing materials.  You don’t need brochures, “Welcome to the Practice” folders, newsletters or even a website.  There is no magic marketing widget that is going to have your phone ringing off the wall with new patients. The most important thing you need is time. You need to take the time to go out and establish relationships in the local community. Yes, I know your time is valuable, but there is nothing that can take the place of a strong personal relationship with a local referral source (Physician, Physician’s Assistant, Personal Trainer, etc.).  And the good news is you don’t have to lay out any money for your time.

As far as practice management goes, there are methods available to get your practice up and running in a very affordable manner.  Outsourcing your billing to a medical billing company can be one such method. A billing company will take anywhere from 5%-12% of the money they collect from you. However, you will not need to lay out all the money that is associated with billing for your services. For example, you don’t need to purchase a billing software program or hire and train a staff person to manage your offices billing. In the early stages of developing a new business, most of your time should be dedicated to providing exceptional care and acquiring new patients. Without patients, your business will have a challenging time being profitable.

We understand that Physical Therapy clinics can get hectic at times and trying to stay on top of alerts and notifications can be difficult. WebPT understands this and has created a number of real time alerts that are displayed under the “At a Glace” section on the dashboard.

You may see these notifications every day, but do you really know what they mean? Below is a summary of each notification you may see on your dashboard. Notifications are specific to administrative, patient and documentation related information.

Administrative Notifications

• Incomplete Patient Records - Displays those patients with missing demographic information, such as an address or phone number.

• Incomplete Insurance Records - Similar to Incomplete Patient Records, this displays Insurance records with missing demographic information.

• Incomplete Physician Records - Also similar to the above, this alert displays referring Physicians with missing demographic information.

• Fax Alerts - Displays the number of failed faxes in your clinic. Clicking Fax Alerts will bring you to the Fax Log Report.  

Patient Notifications

• Ending Authorizations - This is a report that lists those patients with Authorizations that are coming to an end.

• Expired Authorizations - Similar to Ending Authorizations, this report lists those patients with Authorizations that have expired.

• Needs New Authorization - This report lists those patients that need a new Authorization because they’ve exceeded the number of authorized visits.

Documentation Notifications

• Needs Progress Note - This alert displays those patients where Progress Notes are needed. The system default is set to 10 visits or 30 days.

• Incomplete Documents - This report lists those patients with documentation that was started but was saved as a draft and never finalized.

• Incomplete Co-Sign Docs - Alerts you that a PTA has forwarded documentation to you that needs co-signing.

The “At a Glance” section is continuously updating to give you the most up to date information for our members. WebPT’s goal is to help improve the efficiency of Physical Therapy clinics by providing information that is specific and useful. If you have any suggestions about our “At a Glance” section, we’d love to hear them. Please leave your ideas below!