Partner Article

Reasons for Opening an Occupational Therapy Business

Current population figures show that there are more baby boomers today than ever. For this reason, there is also a greater need for occupational therapy services. While physical therapy is in demand, venturing into occupational therapy proves to be more productive.

Why Venture into Private Practice?

If you are thinking about getting into the occupational therapy or physical therapy business, consider the following reasons why an occupational therapy practice is more commercially advantageous.

There is less competition in occupational therapy.

The presence of hundreds of clinics offering physical therapy makes it a less desirable enterprise than occupational therapy. With less competition in occupational therapy, there is more scope for developing regular clients and greater income. There are fewer occupational therapy clinics than physical therapy offices, and fewer professionals in private occupational therapy practice. Hand therapy is the most popular field of occupational therapy: with the increasing geriatric population experiencing degenerative joint conditions, helping them with manual activities is a good business option.

There is the possibility of teaming up with physical therapy.

If you need more resources and want to limit expenses, opening your occupational therapy business within a physical therapy enterprise can also be a good idea. With this, you will share resources that can considerably reduce your expenses. Ask one of your colleagues in the physical therapy industry if you can start a private practice together.

Insurance policies cover occupational therapy.

While health insurance companies removed some complementary services (such as chiropractic care, acupuncture and acupressure) from coverage, occupational therapy remains on the list. This means that you can still attract a significant number of patients, and insurance companies are very willing to pay you for their treatment. In addition, there are a growing number of people with their own insurance policies, which means that you can grow your business by offering your services to them. Ensure that you understand reimbursement strategies if you go into private practice.

How to Sustain your Occupational Therapy Business?

Now that you know the advantages of venturing into private practice, you need to learn how to sustain your enterprise. Increasing the number of patients seeking your services is the best way to support your own private practice. Without clients, your business will die, so do not simply rely on your regular clients - go out and find some more. You can go to doctors’ offices to offer your services to their clients. Remember that giving free treatments and being nice to doctors are not enough today. Be sure to stand out and gain the respect of these physicians, so that they will refer their patients to you for occupational therapy.

Besides this, you should also study the processes of insurance policies. Working in an institution as an occupational therapist will not provide you with experience of this issue, because your institution may have an accounting department. When you go into private practice, you must discover how to be reimbursed for your services. Since there are an increasing number of people managing their own health insurance, you will need to acquire the skills to turn this opportunity into cash from insurance companies.

Remaining as an occupational therapist within a health institution will deliver a competitive salary package, but venturing into private practice can increase your income a thousand fold, so you may as well try opening your own occupational therapy business.

Charlene Cruz is a speech pathologist for ten years. She has made her first job contract as a travel speech therapist with a reputable institution through Travel Therapy Jobs at Advanced Medical.

This was posted in Bdaily's Members' News section by Alapati Amarendra .