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Are you sure you want to open your own practice?

Sam Esterson

Our blog post today was written by WebPT member, Dr. Sam Esterson, PT, MA, MBA, DScPT. He is the owner of Esterson and Associates Physical Therapy. He is also the author of a well-received book written in 2003, entitled Starting & Managing Your Own Physical Therapy Practice: A Guide for the Rookie Entrepreneur. Dr. Esterson will be a featured guest on this month’s webinar. Learn more here. Thanks to Sam for his wise words. 

Those forward thinking and self-motivated therapists who possess a powerful drive to grow, are goal-directed, and have low blood pressure are ones who may be the best candidates to jump in, full throttle, and consider opening up a practice “on their own.” Sure, there’s much to consider and plan, but, if you are a therapist working in an environment where you are constantly thinking, “Gee, I sure could do this better, easier, more creatively, and/or more cost-effectively,” then, you may have “the itch.” The people who generally have this spirit are called “entrepreneurs.” An entrepreneur is one who organizes, manages and assumes the risks of an enterprise. The term comes from the French, entreprendre, meaning, to undertake. Entrepreneurs demand as much of themselves as they do of others. They have a passion for their dreams and do not easily take “no” for an answer. Entrepreneurs see opportunity when others see potential failure. They see the proverbial glass half-full while others perceive the glass half-empty. 

There are some therapists who may think that by opening their own practice, they will become their own boss and not have to take orders from others ever again. This concept cannot be further from the truth. In fact, once you open your own business, you will have many bosses, including the referring practitioners who have clinical demands on you, insurance companies who direct your care by virtue of how they reimburse you for services rendered, patients who have a knack for manipulating your time and efforts, and even your staff who place constraints on you in many ways.

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Top 3 Takeaways from HIMSS 2012

Below, Jeremy, Heidi, and Paul share with you their experiences attending seminars and educational sessions.  Continued education on the most current trends in digital healthcare will serve to enhance WebPT’s features and keep our members at the forefront of physical therapy technology.

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Stay on top of the latest rehab therapy tips, trends, and best practices.

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Top 4 Insights from CSM 2012 from a new Physical Therapy Grad

The first Combined Sections Meeting I attended was during my last year in PT school at New Orleans in 2011.  Now as a recent graduate and new professional at CSM 2012, I felt a sense of accomplishment to be considered a colleague among others who are also enthusiastic about our profession and eager to learn how to better help our patients.

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Top 3 Things PT’s Need To Know About Insurance

Today’s post is contributed by Greg Babiec, Physical Therapist, and Owner Evolve Physical Therapy & Sports Rehabilitation in New York. Greg is also a member of WebPT. You can follow him on Twitter at @DrBadBack. Thanks, Greg, for contributing your insights and expertise today!

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What you need to know before taking your billing In House

Many clinic owners don’t pay quite enough attention to how billing tactics can effect their business overall. It’s one of those scenarios where the phrase “You don’t know what you don’t know” seems appropriate. Let’s take a close look at one billing method that can improve the health of your practice and give you the most visibility and control over billing practices. 

 
In house billing is all about control. Deciding to go with an in house billing solution has a lot do with you as a business owner. If you currently have a hands on approach and want to see each and every detail that goes in or out of your clinic, then in house billing is probably your best option.
 
In house billing means that you have at least one billing employee on your staff that is in charge of submitting all of your claims and seeing them through he collections process. One benefit to this method is that you can select the employee yourself. This gives you the ability to choose someone who is not only a fit at your office, but also is an expert in physical therapy billing. Being able to choose with whom you work and to verify their knowledge level offers a great sense of security for your practice. If you choose an outsourced billing service, you may not in all cases know exactly who is filing the claims for your clinic.
 
The next consideration you need to think about for in house billing is what software to use. Before you start looking at every software out there you should contact your EMR company (if you don’t have one, go here) and see what systems they integrate with. This will not only help you to narrow down your search, but also make sure that you don’t have to do double entry of your information. Some clinics that ignore this important step have to enter in each patient and each charge twice, because they have two systems that do not communicate with each other. Everyone has their reasons, but buying a system that doesn’t communicate with your EMR seems counter-intuitive.
 

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My Top 5 Physical Therapy Resources in Social Media

 WebPT has asked me to share my personal top 5 physical therapy resources in social media. This is by no means an extensive list; it is simply a list of the folks I check in with on a daily basis to share research, hash out practice issues, address topics of interest, and generally stay on top of what’s new in our profession. Enjoy checking these folks out, and feel free to add suggestions!

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Discover Ideas In Action – February 2012

Earlier this morning thousands of WebPT members were greeted with a number enhanced features and a new color scheme as we improved our system this weekend. Approximately 25 members suggested improvements to our application which we developed and implemented in our latest release!  

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How Your Method of Billing Impacts Your Clinic

Last month we gave you some marketing tips to get your clinic in good health for the New Year. The next topic we want to consider is a little bit more serious. Many clinics have their billing practices in place and haven’t really considered what options are available. The truth is, your clinic has many options when it comes to billing and switching to a method that makes more sense for you could have a dramatic effect on your bottom line.

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Are Physical Therapists Really in Sales?

Let’s talk about your business. If you’re a private practice owner, you know how important is to get paid by the insurance companies in order  to keep the lights on. You didn’t start this practice just to make money, though. If you’re like most private practice owners, you started your clinic to treat patients and control your own destiny.

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