196Re: Starting PT Prn serv
- Jan 27, 2004I am a full-time PT but my wife is an OTR/L who is doing independent
contracting as a sole-proprietor which essentially means we have a
home business since she operates out of our home. I would first get
with an accountant and ask for a referral for an attorney. Like our
rehab services, they are not cheap but they are business expenses.
I would also contact your state department of Worker's compensation
and set up an account with them since most places you contract with
will expect/probably require you to have workers compensation
insurance. In Ohio, you pay like $10 deposit and then a % of you
gross in 6 month increments.
I'd get liability insurance also. If you don't realize that by now,
check the number of ads for attorneys in your local yellow pages vs
medical professionals. Another business expense.
Even if you remain solo, go to the local SBA (small business admin)
who will provide loads of FREE info and some services very affordable
yet again, a business expense. See if you have a local SCORE chapter
(retired excecutives who would be eager to help a young
entrepreneur. I went to a "Start your own business seminar" for $35
which was very informative. I'd also contact the SBA for a Small
business start up kit. Most of your questions are organzied there.
Basically, by seeing an accountant and the SBA you can get most of
your questions answered. You my not need an attorney right away
until you have a contract to review.
Rates will depend on your setting, state and experience. I am doing
some PRN stuff in a nursing home for $45 an hour but I'm basically a
part time employee and not a contractor. My wife and I also do some
PRN stuff with Career Staff Unlimited...they are paying $33-34 an
hour. So, you have to figure they are probably getting double that.
The place I'm getting $45 an hour is happy...win win situation really
according to the rehab supervisor since they are paying me less than
the agency and I'm making more than I would have through an agency.
Another suggestion. When you walk into one of these places, have a
folder with your resume, copies of your drivers license, PT license,
CPR card, liablity insurance, workers comp insurance, a list of
references (professional) and if you're really on the ball, get
several cards of your fingerprints made up at your local sherif's
office (just one for the file of course). Why? You'll need all of
this stuff anyway and if you plop it down in one neat package it says
this...wow...organization and it just saved me the next 15 minutes
asking for it all. Another reason is you'll have to do all of this
if you decide to have your own company with employees someday.
Unwritten rule about negotiating rates. Don't get greedy. Don't
bring it up first. I had a friend who was an engineer and had an MBA
who gave some good pointers on interviews. Don't bring it up $$
first. Don't be the first to mention a number. By knowing what the
region is asking, that should be your ball park. Let them mention
the first number then negotiate or accept from there. I was asked
what my going rate was when I got $45 an hour. I really didn't
know. Told him I knew what I was making with benefits and making at
Career staff then reminded him when he called that they would go
between $40-50 an hour. I thought $45 an hour was fair. 10 hours a
week at $45 an hour is roughly $23,400 a year. Find 2-3 places to do
that at and your looking at some serious change.
If you are planning on having other employees, you're going to need
alot more help. You could check out: www.nytherapyguide.com run by
Iris Kimberg, PT/OT. I ordered a guide from her which will get you
started in the right direction also. If you are an APTA member and
join the Private Practice Section, they have a mentorship program run
by the PPS members who would probably be the best place to start.
I'm also a member of Doug Sparks' group at www.aptc.biz (~ $330/year
to join). Also check out www.ptmanager.com for other info.
Nolo.com is another place you can find business start up info more
from a legal perspective.
Hope this helps. Good luck.
Ryan S. Gephart, PT, CSCS
--- In email@example.com, "soza1106"
> I was wondering if anyone have experience starting a PRN PTbusiness ?
> As a sole employee before & expanding slowly.rates
> I am mainly seeking start up info , insurance info, PRN agency
> etc .
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