Serious musculoskeletal injuries affect over 100 million American adults each year, leading them to seek out therapies that can help them reduce pain and regain mobility. Physical therapists treat patients with musculoskeletal issues and can help patients reduce their pain and increase or restore mobility that’s been lost due to a spinal cord injury or any other musculoskeletal condition.
The potential demand for access to qualified physical therapists may be a reason to consider establishing a company emphasizing this specialty. Use these tips to open a successful chain of practices that specialize in physical therapy.
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Map out a business plan.
Creating a business plan is the first crucial step you must take before opening your chain. To prepare a business plan, you must research the industry and identify the demand for services. Determine who your potential patients are, identify current service gaps that exist, and use this information to clarify the focus for your company.
Your business plan should also identify the resources you need to operate and your short-term and long-term business objectives, as well as specifying how your company will generate a profit. All of these are important factors in how you’ll run your business, so it’s crucial to write them down ahead of time.
Set yourself apart from the competition.
One way to attract new patients is to distinguish your company and its services from competitors. Your physical therapy chains can do this by using cutting edge technology and therapy strategies.
For example, you could invest in robotic exoskeletons for treatment. Patients wear an exoskeleton suit, which can be used to provide support and assist them while they’re performing specific tasks. Exoskeleton suits can make it easier for patients to stand, walk, and complete physical therapy exercises. Exoskeleton suits can also be used with patients who are paralyzed and enable them to move limbs.
You may also set your business apart by creating practices with access to on-site resources, such as pools. Moving in the water can reduce pressure on a patient’s limbs, joints, and muscles. Potential patients may prefer water-based activities that enable them to increase their mobility and strength without causing pain, so having this option available is a great way to attract new patients to your medical practice.
Secure financing for your medical practice.
Opening a business requires financing. A comprehensive business plan can enable you to secure financing, or at least make a plan on which potential investors to reach out to. In addition to your research, marketing strategy, and business focus, you should also have a budget you can present. Your budget should outline the expected start-up and operating costs, your income projections, and any marketing plans you have — online advertising, digital marketing, content marketing, or any other plans to secure new patients and boost your income. Your financial data should explain how you intend to generate revenue to recoup your investment costs and maintain operations.
Secure the resources you’ll need.
Find suitable locations that will enable you to serve your potential patients. Patients who are in wheelchairs or have mobility issues will need accessible parking spaces. Ideally, your entrance should be level. Review ADA regulations and ensure your sidewalks, entrances, and corridors are accessible. Since physical therapists focus on working with disabled or injured individuals, your facilities must be accessible.
You can opt to hire or outsource human resources professionals. A Human Resources team will ensure you comply with local regulations and hire qualified professionals suited to your business needs. Purchase the resources your team will need at each location. Essential resources may include exercise equipment, furnishings, and privacy screens.
Develop a solid marketing strategy.
Hire a professional marketing team that will utilize search engine optimization (SEO) marketing strategies to raise your company’s profile. A medical SEO team will customize material on your medical website or blog that includes relevant keywords to land you higher on a search engine results page, such as Google or Bing. They can also ensure your website development team incorporates essential features to increase your site’s domain rating (DR) score. Web browsers use DR scores to determine which searches your site will be listed in and how high your site will rank. Sites with higher DR scores are listed first when a person performs a Google search. Your site should be easy to navigate for a great user experience and have content that will promote engagement.
When visitors spend time reading material on your site and follow links to other pages, your site’s DR score will increase. A medical SEO team can also help you generate off-site content, such as guest blog posts, that will direct traffic to your site and increase your DR score, which will raise your company’s profile and get you to new patients as well.
Consider partnerships with other medical practices.
One way to offset operational costs and appeal to a broader clientele is to form partnerships with other therapists who provide related services. Individuals who are disabled or recovering from an illness or injury may also need to see an occupational therapist or a recreational therapist. Partnering with these professionals can attract patients who will be able to receive their treatment in one location. You may opt to rent space to these professionals, which will allow you to increase your revenue and reduce operating costs by sharing receptionists and cleaning staff.
