How to Start a Speech Therapy Private Practice
J. Kyle Meades, CCC-SLP
Brought to You by PrivateSLP, PLLC
WARNING: Starting a Speech Therapy Private Practice May Just Change Your Life, FOREVER
But starting a Speech Therapy Private Practice alone can be difficult. Without the right help, you may overlook important key components such as HIPAA Privacy Rules, make errors with private or third party payer credentialing and contracting, expose yourself to increased liability for failure to adequately follow private insurance, Medicare or Medicaid contracts, over (or under) price yourself out of your local market. If you are a perfectionist, then working alone can be dangerous because it's no secret that we suffer from analysis paralysis, and always trying to get things done perfectly, to the point that nothing gets accomplished. Working alone also leaves us with no accountability and simply can be lonely. You need help, and you need help from someone who has experience running a real private practice (actually two of them - one physical clinic and the other, a home and community based private practice). I'm not talking about seeing a few patients in your spare time. That may be a start, but I am talking about a business with real employees and real patients (many of them). I'm talking about a business that pays taxes and has real headaches, real revenue and real expenses. If this is what you're looking for, then keep reading.
Starting Very Young
My dad was a licensed plumber, a good father and a good provider. I remember at an early age that he was different. He would pack me on his shoulder as a toddler and talk business with others on job sites. I didn't know what he was talking about, but I remember that when he spoke, it meant something. When he shook hands with others, it was real. My dad had his own plumbing and contracting business with over 100 employees. When I was 8 years old, I was one of those employees making $ 70.00 a week working on plumbing trucks in the summer time. I remember one hot, sticky afternoon I was cleaning the warehouse and I came into the office ans asked him if I could stay in the cool air conditioned office. He promptly replied, "If you want a office job, then go to college". During the summers, I wanted to sleep in, wake up late and watch cartoons, but my mother always had my lunch box ready when my dad woke us up promptly at 4:30 in the morning. We worked all day in the Southeast Louisiana heat. I hated it but looking back, it was well worth it. He used to tell me things like, "Ten percent of something is better than one hundred percent of nothing". He also used to say that there was a price for everything, especially your time.
There is always a price for getting what you want, but there is also a cost if you don't get it.
You Can Choose to Pay the Price or Pay the Cost
Dear fellow SLPs, have you ever tried to start your own practice and it turned out less than stellar?
You know what it's like when you try to start your own speech therapy private practice and you only get so far. There are different service delivery models, the choice of settings, the list goes on and on . Starting a speech therapy private practice sounds easy but it's actually quite difficult.
Let me explain…
When I first attempted to become a speech therapy private practice owner, I thought a partnership in a private practice was the solution. The existing practice had all of the components that I desired, like a physical location, a cash-based model, current patients and cash flow, a secretary and scheduler but something was just not right. The practice was a very good one, but it did not focus on the types of disorders that I enjoyed treating. I also wanted more control, and I felt like I owned my own job. I ended up exiting that practice.
Continuing to Search
In my frustration, I went and worked in several settings across the United States and New Zealand. I wanted to see how large hospitals, inpatient rehab settings, outpatient clinics, specialty hospital wards, and even foreign District Health Boards managed their staff and revenue. During this time, as I moved from setting to setting, I took copious amounts of notes, spoke to hospital administrators, rehab managers, other employees and staff and learned their secrets on how to manage expenses, employees and revenue, and more importantly I learned how to work, navigate, bill and collect from big insurance companies.
I was ready to start my own private practice, but then something big happened. They say when the student is ready, the teacher appears. My teacher was Hurricane Katrina. With a child on the way, I was about to experience vulnerability at it's greatest level. One thing that I cannot stand is relying on others for my livelihood, and not only did the hospital that I was working at close down for a period of time, there was no way I could commute from Baton Rouge to New Orleans to keep that position. Little did I know that the financial collapse of 2007 was just around the corner. I had only one option, and that was to move to Tucson, AZ. Starting over from ground zero, I was sad, tired and afraid. As soon as I got back on my feet in Tucson, I started a series of part and full time jobs with the primary purpose of starting my own practice. I worked to see private clients after work, and I applied all of the secrets in my new plan to finally open my very own private practice.
A New Start in Tucson, AZ
Luckily these secrets worked and my new speech therapy private practice started to grow slowly over time. I started seeing people in the home setting, but finally grew to to the point that I couldn't afford to have an office. I continued to work very hard, even as the financial meltown of 2007 was occuring.
I became so busy that we had to move our office over three times within the last seven years! Inspired by all pf our patient success stories, I stepped it up a notch and recently added more disciplines to the mix, like Occupational Therapy Services, and soon to add Physical Therapy for children.
I thought it would be a good idea to share these secrets to other passionate SLPs. Of course not anyone is a good fit to join this community. If you are interested in just seeing a few clients in your spare time, or just want to see a couple of patients on the side, this is not the place for you. Also, if you think that starting a speech therapy private practice is easy to start, completed within a few months, or stress free without headaches or mishaps, then you should go definitely go elsewhere for assistance.
Here I am Talking About Our Therapy Services On Our Local ABC Affiliate, KGUN
Creatively Advertising Our Therapy Services and Supporting the Local Economy
Good news for you!
Finally, the world's best speech therapy private practice startup secrets are located in one convenient location, easily accessible at your fingertips digitally and conveniently.
I’m pleased to bring to your attention the new PrivateSLP All Access Forum for SLPs just like you.
The PrivateSLP All Access Community
Finally, you can get real help and guidance while starting your own speech therapy private practice, the special assistance and guidance that only a handful of SLPs have ever seen.
When you are starting your own speech therapy private practice, you can ask questions because I am here to serve you online and you can also swap ideas with other members in the community.
Success at last ...
You'll never have to attempt to start (or grow) your own speech therapy private practice without the support of other private practice owners on hand ready to help you make your private practice journey successful.
and luckily for you:
Because the PrivateSLP All Access Forum is still growing, I've decided to offer a special rate to 100 special people. Instead of paying 997.00 dollars per year (which is what the price will be, in the future), you'll be able to access the PrivateSLP All Access Forum from just $797.00 dollars per year (for as long as you are a continuous remember).
Just think for a minute what the means:
- Ongoing support from me,
- Access to others just like you in the PrivateSLP All Access Community,
- Finally start selling your speech therapy services in your local area (clients will finally get the help they need from you)
If you're still thinking about joining the PrivateSLP All Access Community, here are seven MORE reasons why it makes sense to join the PrivateSLP All Access Community as a founding member:
1. Personal coaching thread (a private thread for personal one on one coaching with me),
2. Live monthly webinars,
3. Clinical Forms, sample contracts, tracking logs, employee forms,
4. Accountability thread (so that you stay focused and on track),
5. Previous trainings stored in one easy location (video, audio and PDF),
6. Success thread to post your accomplishments,
7. If you're looking for something not yet listed, ask and I'll create it for you!
Join the PrivateSLP All Access Forum
The time has never been better (or more affordable) to apply
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