Course Announcement: How to Start a Private Practice

[Guest guest]

The Institute for Rehabilitation

Leadership and Administration

Oakland University

School of Health Sciences

How to Start a Private PT Practice

Dick Hillyer, PT, MBA, MSM

September 23-24, 2000

Presenter:

Dick Hillyer, PT, MBA, MSM

Course Description

A practical, “How To Do It” course for physical therapists

contemplating a new private practice or for those already in private

practice who wish a refresher. The participant will develop a plan for

the inception of a new enterprise, demonstrating basic awareness of

governing economic, financial, and analytic principles. Integrating the

founder’s values and culture (What it wants to do), in light of its

external environment (What it needs to do), and the practice’s internal

environment (What it can do) will prompt decision making guidelines

resulting in a Plan. As the process is completed, the participant will

have become familiar with the basic principles which govern the success

of the enterprise.

Objectives

Upon completion of this session, the participant will be able

to:

· Prepare

a Business Plan for the New Clinic

· Identify

your marketplace

· Determine

what your product is

· Conduct

Your Own SWOT Analysis

· Design

Your Billing Process and Collections

· Explain

the Significant Elements of Site Selection

· Prepare

Proper Pricing for your Services

· Identify

Sources of Startup Capital

· Calculate

the Breakeven Point for Your Practice

· Explain

the Use of Basic Financial Documents to Analyze Performance

· Determine

Your Sources of Financing

· Make

Lease vs. Buy Decisions

· Comply

With State and Local Business Licensing Laws

· Discuss

the Implications of Taxes

· Decide

on the Form of Your Enterprise

· Identify

the Significant Regulatory Issues Affecting Your Practice

Course Outline

· A

Guided Walk Through the Start-Up of Your Practice

· Valuing

the Practice: Three Approaches

· Business

Cessation: When and How to Step Out

· Basic

Business Science

· Software

Packages for Practice Management, Finance and Decision Support

· The

Economics of Contemporary Physical Therapy

· How

Businesses Make Rational Decisions

· Issues

in Finance and Accounting for Non-Financial Managers

· Important

Factors in Human Resources

· Our

Current Regulatory Environment

Location

Oakland University

Hannah Hall – second floor

Rochester, MI 48309

Cost

$325.00. Early bird registration of $300.00 for paid

registrations received by August 1, 2000

(Make checks payable to Oakland University in US Dollars, no post-dated

checks.)

Dates

September 23-24, 2000. Registration at 8:00 a.m. each

day.

Target Audience

This course is intended for managers and future managers of

rehabilitation services in any practice setting.

Enrollment

Enrollment is limited and places in the course are reserved on

a first come, first serve basis. To ensure participation in the course,

payment in full is required. Refunds for cancellation will be subject to

a $50.00 cancellation fee.

Course Instructor

W. Hillyer began his physical therapy career over 30

years ago as an Army physical therapy technician. He completed The

University of Connecticut’s Physical Therapy program before beginning a

career of service in the corporate as well as the private sector. He is

currently a Director of Rehabilitation for two hospitals with combined

rehabilitation services annual budgets of over $7 million / year on

Florida’s Gulf Coast. Through his private company, he provides consulting

and educational services to strengthen the physical therapy community’s

business abilities.

After a stint as VP of Human Resources, recruiter, and Rehab Agency

Administrator for a major corporate P.T. contractor, Dick has consulted

with dozens of clinics and hospital departments over an 18 year span of

self employment. With masters degrees from Wilmington College (Delaware)

in business administration (MBA) as well as in management (MSM), he has

taught graduate Business School courses in Microeconomics, Decision

Analysis, and Finance and Accounting. Mr. Hillyer’s research and theses

have dealt with business planning in rehabilitation as well as the effect

of loyalty on profitability. He has also been adjunct faculty in a

university program in physical therapy, teaching therapeutic exercise as

well as the Administration course.

Dick is a former chair of membership for the Private Practice Section of

the American Physical Therapy Association, and had been Vice President of

the Delaware Chapter for two years before moving to Florida last year. He

was a member of the Section on Administration’s Task Force on Leadership,

Administration, and Management Processes (L.A.M.P).

More Information

Contact Kovacek, Coordinator of the Institute for

Rehabilitation Leadership and Administration.

Pkovacek@....

(fax)

Hotel And Travel Information

Rochester, Michigan & Oakland University

The following hotels are on the outskirts of the Oakland campus.

Most of them will require a vehicle to travel to the campus.

Transportation to and from Detroit Metropolitan Airport may be arranged

through:

Commuter

Express Phone

Dependable

Airport

Transportation: Phone

Hotel: Homestead Guest Studios

[This one is the closest to campus. Approximately 1/8 mile.]

Street: 3315

University Drive

City: Auburn

Hills, MI 48326

Phone: (248)

340-8888 or (888) STAY HSD

Location: From

I-75, exit 79 University Drive. Go east on University Drive.

It will be on the north side of University Drive, approximate 1/2

mile from the exit.

Hotel: Courtyard

by Marriott

Street: 1296

North Opdyke Road

City: Auburn

Hills, MI 48326

Phone: (248)

373-4100

Location: From

I-75, exit 79 University Drive. Go west on University Drive. Go

South on Opdyke Road.

Hotel: Fairfield

Inn

Street: 1294

North Opdyke Road

City: Auburn

Hills, MI 48326

Phone: (248)

373-2228

Location: From

I-75, exit 79 University Drive. Go west on University Drive.

Go south on Opdyke Road.

Hotel: Hampton

Inn / Signature Inn

Street: 1461

North Opdyke Road

City: Auburn

Hills, MI 48326

Phone: (248)

370-0044

Location: From

I-75, exit 79 University Drive. Go west on University Drive. Go

South on Opdyke Road.

Hotel: Holiday

Inn

Street: 1500

Opdyke Road

City: Auburn

Hills, MI 48326

Phone: (248)

373-4550 or 1-(800)-HOLIDAY

Location: From

I-75, exit 79 University Dr. Go west on University Dr. Go north on Opdyke

Rd.

Motel: Motel

6

Street: 1471

North Opdyke Road

City: Auburn

Hills, MI 48326

Phone: (248)

373-8440

Location: From

I-75, exit 79 University Drive. Go west on University Drive. Go

north on Opdyke Road

R. Kovacek, MSA, PT

Email Pkovacek@...

313 884-8920

Visit

<www.PTManager.com>

TOGETHER WE CAN MAKE A DIFFERENCE !