Physical Therapy Practice Business Plan, Marketing Plan, How To Guide, and Funding Directory
The Physical Therapy Practice Business Plan and Business Development toolkit features 18 different documents that you can use for capital raising or general business planning purposes. Our product line also features comprehensive information regarding to how to start a Physical Therapy Practice business. All business planning packages come with easy-to-use instructions so that you can reduce the time needed to create a professional business plan and presentation.
Your Business Planning Package will be available for download after your purchase.
Product Specifications (please see images below):
- Bank/Investor Ready!
- Complete Industry Research
- 3 Year Excel Financial Model
- Business Plan (26 to 30 pages)
- Loan Amortization and ROI Tools
- Three SWOT Analysis Templates
- Easy to Use Instructions
- All Documents Delivered in Word, Excel, and PDF Format
- Meets SBA Requirements
Physical therapy practices are always in demand by the general public given that people are going to have accidents require ongoing rehabilitation. As such, these businesses are very lucrative especially because they also have very high barriers to entry. In almost all states is require that someone that holds a doctorate in physical therapy own and operate the practice. As such, these businesses are able to enjoy a strong amount of immunity from negative economic changes. This trend is expected to continue for in perpetuity. The startup costs associated with starting a new physical therapy practice generally range anywhere from $100,000 to $250,000 depending on the scope and scale of the business to be started.
Imperative to the capital raising process, a physical therapy practice must put business plan must be developed. Within this document a three-year profit and loss statement, cash flow analysis, balance sheet, breakeven analysis, and business ratios page should be developed to show to potential funding source – which may include a lender or investor – exactly what the anticipated financial results of the business will be over this period of time. Within this business plan, it should also be shown how a physical therapist will develop ongoing referral relationships with hospitals, assisted-living facilities, nursing homes, as well as referring physicians.
Of second importance to the business plan, it is important to have a physical therapy practice marketing plan as well. As stated above, it is important that the physical therapist focus on developing ongoing referral relationships with healthcare professionals. This will ensure a constant inflow of patients from the onset of operations. Additionally, it is important to have a website that showcases the physical therapist employed by the business, how to get an appointment, hours of operation, and location information. This website should also include information regarding what insurances are accepted including Medicare and Medicaid.
Beyond the business plan and marketing plan, many physical therapists that are stinking of starting their own practice will often conduct a SWOT analysis. As it relates to the strength of a physical therapy practice, again, these businesses are immune from negative changes in the economy. Pertaining to weaknesses, the operating expenses associated with this type of practice are relatively high given the number of employees that must be on staff. Relating to opportunities, many physical therapy practice owners will frequently hire Associates that can render services on-site in order to boost the revenues of the business. For threats, one of the common issues – and one that is faced by all healthcare businesses – is that there is a continued amount of substantial uncertainty relating to reimbursement programs for Medicare and Medicaid. This is going to be one of the ongoing challenges faced by these businesses as time progresses.
In closing, a physical therapy practice can be a highly lucrative small business opportunity for someone that holds the appropriate licensure to own and operate this practice. Of course, there is some uncertainty as it relates to insurance reimbursement rates, but it is anticipated that almost all publicly funded healthcare systems and private health insurance companies continue to provide significant reimbursement for these company services.