Business Fundamentals for the Rehabilitation Professional

by Tammy Richmond, Dave Powers

Overview

The world of business is ever changing, with much of the available information becoming quickly out-of-date.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

Product Details

ISBN-13:	9781032967547
Publisher:	Taylor & Francis
Publication date:	11/04/2024
Edition description:	2nd ed.
Pages:	236
Product dimensions:	8.50(w) x 11.00(h) x (d)

About the Author

Tammy Richmond, MS, OTRL, is partner of Ultimate Rehab, LLC, Pacific Palisades, CA and an owner of a clinical private practice called Hands 4 Health. She is an adjunct professor at USC, a legal expert, and an author. She also holds positions in state association committees.

Dave Powers, PT, DPT, MA, MBA, is partner of Ultimate Rehab, LLC, Pacific Palisades, CA and an owner of a clinical private practice. He holds positions within the national and state Physical Therapy Associations, holds faculty positions at Mount St. Mary’s College, Los Angeles, CA and University of Southern California, Los Angeles, CA, and serves as an expert witness and investigator for the State of California Licensing Board.

Table of Contents

Preface Chapter 1 Getting Started Step 1: Perform Self Assessments and Practice Assessments Step 2: Identify Your Business Opportunities Step 3: Analyze Your Business Opportunities Step 4: Create Vision, Value, and Mission Statements Chapter 2 Business Structure Step 1: Determine Your Tax Status Step 2: Determine Your Legal Structure Step 3: Create Your Organizational Structure Step 4: Select Your Business Name Chapter 3 Business Plan Step 1: Develop Your Business Plan Step 2: Secure the Details Chapter 4 Marketing Plan Step 1: Analyze Your Market Step 2: Create a Marketing Plan Step 3: Implement Your Marketing Plan Step 4: Assess and Redirect Your Market Strategies Chapter 5 Implementation Step 1: Gather Advice and Consultation From Experts Step 2: Complete Your Operational Infrastructure Step 3: Build Your Management Skills and Standards of Care Step 4: Promote Professional Competency and Code of Ethics Chapter 6 Financial Management Step 1: Understand Accounting Basics Step 2: Manage Your Cash Flow Step 3: Improve Your Profitability and Manage Your Risks Step 4: Understand the Basics to Billing and Reimbursement Chapter 7 Reflect and Redirect Step 1: Reflect on Performance and Productivity Step 2: Redirect to Enhance Profit and Reduce Expenses Appendix A Business Plan Appendix B How to Start a Private Practice: Break-Even Analysis and Potential Management 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