A physical therapy business needs 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 to restore and maintain function, improve body part mobility and relieve pain.
Starting a business like this will give you the opportunity to deal with patients in the comfort and privacy of the patient’s home or small business.
Legal aspects and licenses to open a physical therapy business
Fill out all forms and submit all documentation necessary to practice physical therapy, as the requirements for each state vary widely, 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 choose this last option, you will need to register it and make sure that it has not been registered before.
Complete and submit the appropriate form to the state or county patent and trademark office.
Physiotherapist license: Make sure your physical therapy license is up to date by checking with the Internal Revenue Service, so you can hire employees and withhold sales tax.
Insurance: 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 such as PRPN to accept insurance, as this way you can receive insurance contracts through these networks.
Employees: Hire competent and reliable staff for your business. After securing a physical location and once you have all the corresponding documents you will begin to form the structure of your office.
Rent a physical space: Sign a lease contract of space for the practice of your task, as it is a contractual and financial obligation essential to carry out your professional career.
Legal structure: If you decide for a single-person company, you will be able to have a lot of satisfaction knowing that only you dedicate yourself to all the tasks, but you will 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.
If you are a foreign-trained candidate, you will need to obtain a verification of educational equivalence from an evaluation service.
You will need to complete and submit the appropriate application forms including documentation and payment.
As an exam applicant for a permanent license you can apply for a temporary license at the same time. But you must pay both fees and comply with:
Graduate from an approved school and be assigned to take the national physical therapy exam or wait for the test result.
As a holder of a temporary license you may practice physical therapy provided that the entire practice is under the direct supervision of a person holding a valid license to practice physical therapy on a regular basis.
In the case of a replacement licence, it shall be available for a period of 90 days for qualified persons.
Anyone who has an active license to practice physical therapy issued by another licensing jurisdiction in the United States 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 it is forwarded to the licensing and permitting specialists.
These specialists will review the forms and enter them into a database, which may take 7 to 15 business days after receipt or up to 30 business days.
Then, as an applicant you will receive an email notification with a link to view the status of the application online.
By checking the status of your application, you will see the pending requirements in red and the completed requirements in green.
The pending requirements must be filled in so that they can issue you the credential.
However, they will provide you with feedback, support applications and materials to speed up the process.
If you meet all the requirements, the application process will be completed and you will be notified by email that you have been granted a license or permission, including instructions on how to print a copy.
Steps to open a physical therapy business
Step 1: Obtain all the certifications and credentials that are required by the fair doctors that correspond to the state in which you plan to operate your business. If you consider hiring employees to work with you, make sure they have all the necessary credentials.
Step 2: Obtain all business licenses required by the state, city or county where you establish the business. On the official state or county website you will find all the requirements for business licenses, as you may need to apply for a permit from the state health board so that you can provide physical therapy at home if you wish.
Step 3: Consult an insurance professional for insurance coverage that is appropriate for your business. It may include coverage for negligence, liability and insurance of vehicles and equipment that you and your employees will use to provide services.
Step 4: Establish the legal structure of your business, i. e. you must establish a payroll and billing system that will allow you to receive payments and pay your employees and suppliers.
Step 5: Purchase or rent equipment for your business, as the type of equipment will depend on the specific therapy you plan to offer.
But think of portable and easy-to-mobilize computers d be mobilized inside and outside of homes and your business.
Step 6: Become a provider of major insurance companies, because this way you will be able to accept a wide range of patient insurance.
Step 7: Commercialize your business through traditional and non-traditional advertising media to establish a network of referential contacts with other professionals in your sector and also use social networks for online marketing.