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.
This basic handbook on how to start up a private physical therapy practice is a hands-on guide for any physical therapist who is contemplating or preparing to go out on his/her own. Starting and Managing Your Own Physical Therapy Practice is a one-of-a-kind guide that offers insight into the how’s, what’s, and where’s of private business and gives the practitioner enough information and insight to veer him/her in the proper direction. This book is a guide map, a tool developed to open your eyes to what is necessary to open and run your own, successful practice. Insights and ideas are taken from the author’s twenty plus years of professional and business practice in many venues from large hospital facilities and corporate therapy groups to private practice enterprises.