Description
Book SynopsisThe world of business is ever changing, with much of the available information becoming quickly out-of-date.
Business Fundamentals for the Rehabilitation Professional, Second Edition keeps pace with this changing world and provides the health care professional with the latest information to answer the “what, where, how, and when” questions that come up when transforming a health care practice idea into a successful business.
With this updated
Second Edition, Tammy Richmond and Dave Powers take the health care professional to the next level of implementing successful business operations by the introduction of applications of management principles, as well as implementation of evidence-based practice guidelines and basics to billing and coding documentation.
Business Fundamentals for the Rehabilitation Professional, Second Edition addresses how to identify emerging business opportunities, legal and health care regulatory issues, market research and development, and health care operations.
New features in the Second Edition:
- New Management and Operations checklist
- An in-depth look at reimbursement, billing, and financial survival
- Strategic target market promotions
- Updated templates and tools
- Review questions
- Downloadable worksheets available with text purchase
Keeping the user-friendly format of a workbook,
Business Fundamentals for the Rehabilitation Professional, Second Edition is the perfect resource for master and doctorate level students preparing for the professional world, as well as rehabilitation professionals and entrepreneurs interested in obtaining knowledge in starting up, managing, expanding, or understanding the health care practice system.
What will you learn?
- How to create a vision and mission statement
- How to develop a business and marketing plan
- How to manage finances within the scope of the practice
- What are your local state and federal regulations
- What are the small business guidelines
Trade Review "The book is written in a straightforward, easy-to-read format. It presents the basic principles of development and operation of a private rehabilitation practice in language appropriate to the management of any small business. The writing style lends itself to rehabilitation professionals who are novices in the area of business management and who are just beginning to explore the conceptual ideal of developing a private practice. Also contained in the book are many tables in each chapter and appendices that provide sample forms the reader can use to implement each step in the creation and development of a rehabilitation practice.
Business Fundamentals for the Rehabilitation Professional is a worthwhile read for any rehabilitation professional who is considering opening a private practice. It will provide the basic knowledge to determine if the development of a private practice is a good move and will provide a basic framework to guide the decision matrix required to develop and implement a viable and sustainable business endeavor."
— John M. Cheeks, PT, DPT, DHS, MSG, CSST, CEA, School of Allied Health, Department of Physical Therapy,
Louisiana State University, Laurel, MS, Activities, Adaptation, & Aging "I recommend this book for any rehab professional who is even thinking about starting a business practice. It is useful for non-rehab business start-ups. In addition, the text could be used by existing rehab businesses to improve on current practices."
— Mary Casey, MS, PT,
ADVANCE for Physical Therapists & PT AssistantsTable of ContentsContentsDedication Acknowledgments About the Authors Contributing Authors Preface Chapter 1 Getting Started Tammy Richmond, MS, OTRLStep 1: Perform Self Assessments and Practice AssessmentsStep 2: Identify Your Business OpportunitiesStep 3: Analyze Your Business OpportunitiesStep 4: Create Vision, Value, and Mission StatementsChapter 2 Business Structure Tammy Richmond, MS, OTRLStep 1: Determine Your Tax StatusStep 2: Determine Your Legal StructureStep 3: Create Your Organizational StructureStep 4: Select Your Business NameChapter 3 Business Plan Tammy Richmond, MS, OTRLStep 1: Develop Your Business PlanStep 2: Secure the DetailsChapter 4 Marketing Plan Tammy Richmond, MS, OTRLStep 1: Analyze Your MarketStep 2: Create a Marketing PlanStep 3: Implement Your Marketing PlanStep 4: Assess and Redirect Your Market StrategiesChapter 5 Implementation Dave Powers, PT, DPT, MA, MBA; Tammy Richmond, MS, OTRLStep 1: Gather Advice and Consultation From ExpertsStep 2: Complete Your Operational InfrastructureStep 3: Build Your Management Skills and Standards of CareStep 4: Promote Professional Competency and Code of EthicsChapter 6 Financial Management John Richmond, CLU, ChFC; Tammy Richmond, MS, OTRLStep 1: Understand Accounting BasicsStep 2: Manage Your Cash FlowStep 3: Improve Your Profitability and Manage Your RisksStep 4: Understand the Basics to Billing and ReimbursementChapter 7 Reflect and RedirectBeverly Sumwalt, MT (ASCP), MA; Tammy Richmond, MS, OTRLStep 1: Reflect on Performance and ProductivityStep 2: Redirect to Enhance Profit and Reduce ExpensesAppendix A Business Plan Appendix B How to Start a Private Practice: Break-Even Analysis and PotentialManagement Actions Appendix C Samples of Marketing Materials Appendix D Implementation Tools Appendix E Documentation Self-Assessment Appendix F Productivity Self-Assessment Appendix G Management and Operations Checklist Appendix H Sole Proprietorship Start-Up Appendix I Electronic Resources Glossary Index
