3/16/2016
Starting out in Private
Practice
Heather L. Balog, Ph.D., CCC-SLP
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Balog Speech & Language Center, Plymouth, MI
heather.balog@balogspeechlang.com
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H. L. Balog - ICCD 4.7.16 Private Practice
H. L. Balog - ICCD 4.7.16 Private Practice
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Introduction
ASHA Resources
 http://www.asha.org/slp/ppresources.htm
 Multiple link to resources
 ASHA Leader articles:
 http://leader.pubs.asha.org/article.aspx?articleid=1814867
 Dougherty & Krebs (2014) – The Magnificent 7
 http://leader.pubs.asha.org/article.aspx?articleid=1814870
 Dougherty (2014) – 8 Deadly Private Practice Don’ts
 http://leader.pubs.asha.org/article.aspx?articleid=1785874
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Small business resources
 Merkel-Walsh (2013) – In private Practice: No More No-Shows
H. L. Balog - ICCD 4.7.16 Private Practice
H. L. Balog - ICCD 4.7.16 Private Practice
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Small Business Administration

www.sba.gov

Sometimes sponsor courses via your community college for nominal fees

 Excellent resource for many of your initial needs!
Selected Questions (https://www.sba.gov/content/20-questions-before-starting-business)
 Why am I starting a business?
 What kind of business do I want?
 Who is my ideal customer (or in our case patient)?
 Am I prepared to spend the time/money to start my business?
 Where will my business be located?
 How much money do I need?
 Do I need to make a profit?
 Who is my competition and what will my pricing be?
 What will by legal structure be?
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Business plan
 What taxes will I need to pay?
 What insurance do I need?
 How will I market?
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Business plan
 3 -5 year plan for how your business is going to grow and
become profitable.
 You may or may not need to do this depending on how
your start your practice.
 You will need to do this if you want to get a loan from a
bank!
 There are many resources (e.g., SBA) for writing and
business plan.
H. L. Balog - ICCD 4.7.16 Private Practice
H. L. Balog - ICCD 4.7.16 Private Practice
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Business Structure
 Sole Proprietorship
 Limited Liability Company (LLC) or Professional Limited Liability Company (PLLC)
 Steps to form:
 Choose a business name
 File the necessary legal paperwork in your state, including license and permits. (hire an
attorney to do this)
 This will get you and Employee Identification Number (EIN)
 Now you can open a Business Bank account!
 Cooperative
 Corporation
 Partnership
 S Corporation
 Two essential hires: attorney & accountant
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Banking and initial cash flow
 Keep track of initial expenses prior to your establishment
(i.e., EIN)
 Cannot open a bank account for business until you
have EIN (so you are in a bit of a bind)
 Once you have your business set up open a bank
account (checking)
 Getting or a loan or not?
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H. L. Balog - ICCD 4.7.16 Private Practice
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Marketing Strategies
H. L. Balog - ICCD 4.7.16 Private Practice
Marketing
 Create a website (www.balogspeechlang.com)
 Link this to a business Facebook page (which you
update regularly!)
 Create a letter/brochure and mail local professionals
 Insurance referrals
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Insurance
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Insurance???
 Pros
 Great referral source
 Payment is good
 Cons
 Payment is not always good!
 Payment is sometimes delayed and patients may not pay retroactively
 Time consuming to apply to become a participating provider
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Materials
H. L. Balog - ICCD 4.7.16 Private Practice
Materials
 Do you have the materials you need?
 Will you have to purchase materials all at once or slowly over time?
 These questions are very important to consider
 Also, where will you store them?
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Office Policies
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Security
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Billing
 Suggest that billing be due at each session
 Try to avoid clients having outstanding balances
Patient confidentiality
 This is easier said than done!!
File confidentiality
Insurance pays late and you may not know how much they
owe
Computer security
It is not uncommon for practices to take some amount of loss
per year
Credit card safety
 Suggest accepting check or credit card payment
only
 Provide a detailed billing summary at the end of each
month
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Sample Billing Summary
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Client Policies
 Appointment schedule
 Appointment cancellations
 Late arrival
 Attendance
 Winter weather
 Treatment cancellation
H. L. Balog - ICCD 4.7.16 Private Practice
H. L. Balog - ICCD 4.7.16 Private Practice
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Other forms (intake)
 Case history
 Insurance form
 Notice of Privacy Practices
 Office Policies
 Clinical Release
 Payment Contract
 Calendar
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Time Management
H. L. Balog - ICCD 4.7.16 Private Practice
Time Management
 Streamline
 Assessment writing and process
 Daily notes
 Manage clients
 Use timer to handle session endings
 Be realistic about what you are doing – is it worth your time?
 You have to work!
 You are your own boss, so you have to be very disciplined!
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Questions
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References
 Dougherty, D. (2014). 8 Deadly Private Practice Don’ts. The ASHA Leader, 19, doi:
http://leader.pubs.asha.org/article.aspx?articleid=1814870
 Dougherty, D. & Krebs, J. M. (2014). The magnificent seven. The ASHA
Leader, 19, 42-46.
 Merkel-Walsh, R. (2013). In private practice: No more no-shows. The ASHA
Leader, 18, 32-33.
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