New graduates just need the right tools and fundamentals in business and marketing to start. Here are 5 tips for a new graduate or resident interested in opening a cash based physical therapy practice.
1. Get good quick
2. Learn how to manage money
3. Learn business basics
4. Learn how to market and sell
5. What kind of salary do you want
As an EXTRA BONUS, the below video goes over the #1 reason why a new graduate SHOULD open a cash based PT practice! SALARY
A new PT graduate can open a cash based physical therapy practice if they do it the right way and have the right fundamentals to start. I am apart of the new generation of PTs that have a DPT, research experience, evidence based practice, etc, but also have huge student loan debt over $100,000+. I am not complaining about it, blaming others, or making excuses, but we need to overcome this student loan debt problem and solve it. This will be solved with increasing salaries. Yes, increased salaries and showing true value in healthcare! So why start out seeing 2-3 patients per hour in a factory clinic and get $35/hour when you can see 1 patient/hour with high quality one-on-one patient care and pay yourself $60+/hour? This is how we have to think. Not only do we need to thrive in the future of health care as physical therapists and create real value to the public, but a cash based practice will allow you to be financially rewarded also. Believe me, it is not easy and get ready to work hard, but it can be done and a new PT graduate can open a cash based clinic.
Owner of Pursuit Physical Therapy
Owner of CashBasedPhysicalTherapy.org
Adjunct Faculty of University of Central Florida
Interested in live cases where I apply this approach and integrate it with pain science, manual therapy, repeated motions, IASTM, with emphasis on patient education? Check out Modern Manual Therapy!
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