Starting a Private Practice Part 2

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Is private practice an option for you? Many speech pathologists have taken the leap into the world of private practice and been successful. This endeavor requires time, commitment and resources. Private practice is not for everyone – is it for you? This two part course series will provide you with a road map and resources to utilize in developing your business, whether you choose to practice full time or part time. With a strong foundation and a plan, your can avoid the financial and management pitfalls. Learn the ins and outs of creating a business plan that works for you! Part two dives into the details of developing an actionable business plan and key considerations around business finances.

Meet your instructor

Denise Dougherty

Denise Dougherty owns a private practice in Indiana, PA. Ms. Dougherty was an adjunct faculty member at York College of Pennsylvania and Wesley College in Dover, Delaware. She is a past President of the American Academy of Private Practice in Speech Pathology and Audiology (AAPPSPA), received the Academy’s 2007 Honor Award…

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Chapters & learning objectives

1. My Business Plan

Once you have had the opportunity to research and consult, the knowledge you’ve gained will help you devise your business plan – what niche can you fill? Strengths, weaknesses, opportunities and threats (SWOT) can be identified. That information will help you determine your potential referral sources, marketing and networking tools and development of policies and procedures.

2. Business Finances

You need to make financial decisions as you plan your practice. Should you be an insurance provider, cash provider only, or a combination? It is critical you look at the area your practice will serve. A strictly cash practice may not make sense. There is a process to become an insurance/Medicare provider but it takes time. How much money does it take to keep your doors open – what are your expenses and your fee structure. If the cost of doing business is greater than your revenue stream, where do you cut costs? Being proactive and facing these questions head on instead of ignoring them can be the difference between a successful, financially healthy practice and having to close your practice.

More courses in this series

Starting a Private Practice Part 1

Denise Dougherty