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Starting PT Prn serv

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  • soza1106
    I was wondering if anyone have experience starting a PRN PT business ? As a sole employee before & expanding slowly. I am mainly seeking start up info ,
    Message 1 of 2 , Jan 5, 2004
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      I was wondering if anyone have experience starting a PRN PT business ?
      As a sole employee before & expanding slowly.
      I am mainly seeking start up info , insurance info, PRN agency rates
      etc .
      Thanks
    • RSGPT
      I 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
      Message 2 of 2 , Jan 27, 2004
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        I 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 physical_therapists_in_business@yahoogroups.com, "soza1106"
        <soza1106@y...> wrote:
        > I was wondering if anyone have experience starting a PRN PT
        business ?
        > As a sole employee before & expanding slowly.
        > I am mainly seeking start up info , insurance info, PRN agency
        rates
        > etc .
        > Thanks
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