A physical therapy business You need licensed and accredited physicians to provide a range of patient care services.
Well, they can and should treat different physical disabilities, such as helping patients restore and maintain function as well as improving mobility of a part of the body and relieving pain.
Starting a business of this type will give you the opportunity to deal with patients in the comfort and privacy of the patient’s home or your small business.
Legal aspects and licenses to open a physiotherapy business
Fill out all the forms and submit all the necessary documentation to practice physical therapy, as the requirements vary according to each state, including tax documents for associations or corporations.
The name of the business: Choose an easy to remember name, which can be your own name or a fictitious name. If you decide on this last option, you will have to register it and make sure that it has not been registered previously.
Fill out and file the appropriate form at your state or county patent and trademark office.
Physiotherapist license: Make sure that your physical therapy license is up-to-date, to do this, check it with the internal tax service, with which you can hire employees and withhold the sales tax.
Sure: Apply for insurance. You can include practice liability insurance, malpractice insurance, property insurance, and health insurance for your employees. Consult with a small business consultant to help you research your options.
Insurance contracts: You can join physical therapy networks like PRPN to accept insurance, since in this way you can receive insurance contracts through these networks.
The employees: Hire competent and reliable staff for your business. After securing a physical place and once you have all the corresponding documents, you will begin to form the structure of your office.
Rent a physical space: Sign a space lease contract to practice your task, as it is an essential contractual and financial obligation to carry out your professional career.
Legal structure: If you decide on a sole proprietorship, you can have many satisfactions knowing that only you dedicate yourself to all the tasks, but will you be able to carry them out with the necessary excellence? Think about it and plan the legal structure of your business carefully, as you can also structure it as a limited liability company.
Requirements: In order to obtain your license you must have a complete education with graduation from a physical therapy school.
In the event that you are a candidate trained abroad, you will need to obtain a verification of educational equivalence from an evaluation service.
You must complete and send the corresponding application forms including the documentation and the required payment.
As an applicant for an exam for a permanent license you can apply for a temporary license at the same time. But you must pay both fees and comply with:
Be a graduate of an approved school and be assigned to sit for the national physical therapy exam or await the result of the exam.
As a temporary licensee, you can practice physical therapy as long as the entire practice is under the direct supervision of a person with a valid license for regular practice of physical therapy.
In the case of a substitute license, it will be available for a period of 90 days to qualified persons.
A person with an active license to practice physical therapy issued by another US licensing jurisdiction may apply to the Board for a locum substitute license.
Application process: Once the documentation is received, it is sent to the tax department for payment processing before being sent to the licensing and permitting specialists.
These specialists will review the forms and enter it into a database, which can take between 7 and 15 business days after receipt or up to 30 business days.
Then, as an applicant, you will receive an email notification with a link so you can see the status of the application online.
When checking the status of your application, you will see the pending requirements in red and those fulfilled in green.
The pending requirements must be completed so that they can issue you the credential.
Anyway, they will provide you with some comments, support applications and materials to speed up the process.
If you meet all the requirements, the application process will be completed and an email notification will be sent to you to note that you have been granted the license or permission, including instructions to print a copy.
Steps to open a physical therapy business
Step 1: Obtain all the certifications and credentials that are required by the medical fair that correspond to the state in which you plan to operate your business. If you are considering hiring employees to work alongside you, make sure they have all the necessary credentials.
Step 2Obtain all the business licenses required by the state, city or county where you do business. On the official state or county website you will find all the business license requirements, as you may need to apply for a permit from the state board of health for you to provide home physical therapy if you wish.
Step 3Consult an insurance professional to obtain insurance coverage that is right for your business. It may include coverage for negligence, liability, and vehicle and equipment insurance that you and your employees will use to provide services.
Step 4: Establish the legal structure of your business, that is, you must establish a payroll and billing system that will allow you to receive payments and pay your employees and suppliers.
Step 5: Buy or rent the equipment for your business, as the type of equipment will depend on the specific therapy you plan to offer.
But think about portable and easy-to-move equipment inside and outside of homes and your business.
Step 6: Become a provider for the main insurance companies, because in this way you will be able to accept a wide range of insurances for patients.
Step 7: Market your business through traditional and non-traditional advertising media to establish a network of referential contacts with other professionals in the same sector and also use social networks for online marketing.