Top 10 Reasons to Start Your Own Private Practice
By Terry C. Brown, PT, DPT
In today’s private practice world there is much talk about decreased payment, increased administrative burden, and difficulty finding good employees. We have seen a marked increase in the sale of therapist-owned practices to larger corporations and even the closing of some small practices. A generation of therapists who have owned their own practices are now wondering whether to sell their practices. In short, private practice ownership comes with considerable challenges.
Is the next generation of young therapists ready and willing to step up to practice ownership? Have today’s owners found owning your own practice all that it was cracked up to be? Should you start/stay/buy your own private practice?
My answer is a resounding yes.
However, in order to be more representative in this answer, I asked five highly respected fellow practice owners to give me reasons why a young therapist should consider having their own practice. Their responses were not only fun but also emotional and passionate. I have combined our answers for the top 10 reasons you should start your own private practice.
- You meet colleagues and build lifelong relationships.
- You can create a business that is employee- and family-centered.
- You worked years to become a physical therapist; this privilege comes with power that you should keep and not give away to someone detached from your patients.
- As a private practice owner you will be among the leaders in your profession.
- You will be tested and challenged and come to realize your greatest potential.
- Personal achievement is measured by what you leave behind. Be known and remembered for the good that you have done in your community.
- You make money while on vacation.
- You choose the quality, quantity, and purpose of your work.
- You get to be innovative and challenge the status quo.
- You control your own destiny and practice physical therapy the way you believe it should be done.
See a theme here? As the owner of a private practice, you also take ownership of your own vision of your work, your contribution to the community and profession—in fact, your destiny! If this path to the profession gets you fired up, join us. The Private Practice Section is here to help you succeed.
Private practice owners have chosen the opportunity to do it better, do it right, and take care of everyone their practice touches—values shared by most owners I know.
This is why we get up in the morning, why we will endure the hardships, and why we make a difference.