By Elizabeth Baxter, MS
This month’s five featured resources revolve around finance, providing you with tools you can use to best leverage your assets to support your business and, in turn, your clients.
This seven-module video series teaches you not just how to understand your financial statements but also how to use information from them to benefit your practice. Available at a discount to PPS members, the series covers financial terms, types of accounting systems, bookkeeping, the interpretation of financial statements, and how to implement your new knowledge in your practice, among other topics.
Get it here: https://bit.ly/3LmAsbr
PRIVATE PRACTICE: THE HOW-TO MANUAL
Whether you are planning to open a new private practice or are looking to improve the operations of an existing one, this how-to manual, available at a discount to PPS members, can guide you through all the steps you need to take to ensure a successful venture. Chapters on business plans, financial management, revenue cycles, and payer contracting directly address your financial needs, and in addition, there are chapters on everything from selecting your practice’s location to developing a marketing plan.
Get it here: https://bit.ly/3LmzJa6
PPS BUYER’S GUIDE
For a broad range of tools, technologies, and experts you can employ to keep your practice running smoothly, you can turn to the PPS Buyer’s Guide, free to PPS members. To learn about tools specific to finance, look through the categories for Billing, Collections, and Revenue Management; Business Management/Practice Consulting; Financial Services; and Practice Management Software/EMR.
Get it here: https://bit.ly/3Dj2qSv
“SIMPLE TIPS TO HELP PTS AND PTAS ACHIEVE FINANCIAL WELLNESS”
Listen to this recent episode of APTA’s podcast for financial advice from Joe Reinke, CFA, founder and CEO at FitBUX. Free to APTA members, the podcast offers insights into the ways in which the pandemic has affected physical therapists and what to expect when federal loan repayments resume — as well as how to plan for fun, not just serious, spending.
Get it here: https://bit.ly/3JP1YOz
By U.S. Small Business Administration (SBA)
If you are seeking additional capital to assist you as you launch your own practice, upgrade your equipment, pursue professional development, or otherwise work to sustain your business over the long term, the Lender Match program from the SBA, a federal agency dedicated to supporting small business owners, can pair you with lenders offering loans backed by the agency itself. You can also visit the “Manage your finances” section of the SBA website’s Business Guide for accounting advice and free business counseling.
Get it here: https://bit.ly/387Rfkh
Elizabeth Baxter, MS, is a staff writer for PPS who resides in New York City.