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So you want to start you’re own practice . . . AWESOME!

OK…So you’re thinking you want to start your own practice? You’ve decided it’s time to take advantage of your strengths, talents, and relationships? You’re tired of working for someone else? And you’re ready to reap the real rewards of your hard work and dreams? That’s Awesome! The timing is right.

    • If you organize and manage your business effectively
    • If you have talented people around you to provide you help and support
    • If you consistently delivery triple aim value
    • If you are part of a large, value-based therapy organization

You can be VERY SUCCESSFUL in our rapidly reforming health care market. Believe me, the powerful decision makers in the health care market expect real, measurable health care value, and they will reward physical therapists and their practices who deliver this kind of tangible value. But starting a business is scary – right? Yes, starting any business involves some risk, but it doesn’t have to be scary. We can help…big Time.

But can physical therapists really start a practice with all this change with ObamaCare?

Absolutely. Health care reform involves many changes, but the two biggest for physical therapy providers is a move from incentives that reward volume of services to those that reward the value – triple aim value – of services. Therapy Partners can help you deliver measurable value and get rewarded for that value. Secondly, the market favors BIG organizations. Therapy Partners’ MSO allows you to gain the strength of size of being ‘partners’ with many VERY talented clinics and therapists. You have a Small practice, but you are part of something BIG – that delivers REAL Quality – Real Value. Therapy Partners allows you to gain the benefits of truly being BIG while allowing you to own, control, and achieve the financial rewards of owning your therapy business. The timing is right if you are big enough.

I’m a talented, skilled physical therapist, but I don’t know how to start a practice?

Therapy Partners (TPI) is a Management Services Organization, or MSO, for independent therapy practices. We get your health plan contracts that pay a very good rate. We provide the behind-the-scenes business services that are really hard to do and that a vast majority of physical therapists not only Don’t WANT to do, but Don’t KNOW HOW to do. Billing. Payment processing. Patient registration. Credentialing. Compliance. Ugh. Who wants to do that?

Yeah, but isn’t it expensive to start a practice?

It takes money to start any business. Rent space. Buy or lease therapy equipment. Hire an employee or two. Buy needed insurance. Buy office supplies, patient supplies, clinic supplies. Buy some computers, chairs, desks, tables. You will have some things and services to buy, but your biggest expense will always be people.

But Therapy Partners can minimize your start up expense. We can and will do much of the front end and back work for you so you don’t have to hire as many people – if any. We have helped some physical therapists start up who didn’t hire even 1 employee for over two years! Some start up practices in our TPI network employ ONLY therapists. We will help you keep those frustrating expenses down. And we can help you decide what you need and don’t need; how much space to rent; what to plan for as you get up & running.

Interesting...Who will help me get started and keep going?

The Therapy Partners team is there to help every step of the way. Jim Hoyme and Jacky Bjorkstrand will ensure you have all the health plan contracts you need and get you credentialed. Craig Johnson will get you set up and trained in with FOTO outcomes. Various team members will show you how to use the RevFlow billing and EMR systems. The BMS billing team will help you understand the billing process – and they will do that for you. Pam Simonet, Jacky Bjorkstrand, and Kristin Feneis at the TPI office will help you go through all you need to get on board with the TPI team.

Plus, you will get to know and build relationships with the many experienced and talented practice owners from the successful practices who are our members. Check out the members of TPI’s MSO. Very impressive. And the practice owners work together collaboratively, because, like you will hear a lot – Therapy Partners is a TEAM.

So how does TPI’s MSO work?

Therapy Partners’ MSO is a defined business entity with its own Tax ID Number (TIN). Our member practices contract with us, and we provide our members with services and relationships that bring them strength of size, a centralized billing office, certain administrative services, operational efficiencies, and an ability to negotiate health plan contracts so practices can focus on delivering even better care, building important relationships, and growing their businesses. Specifically TPI provides its members:

    • ALL health plan contracts under the TPI TIN
    • ACO relationships
    • Billing, accounts receivable management, and payment processing
    • Billing and EMR technology
    • Credentialing
    • Compliance

    • Certain other administrative services
    • FOTO outcomes and care management; value-based contracts
    • Practice Management tools and support
    • Clinical education, leadership training, clinic management training and other learning opportunities
    • Collaboration with outstanding practices and team members

TPI can also provide you with charge audit, pre-registration, and marketing services.

TPI and its members are a TEAM that delivers Triple Aim Value

Being part of a value-driven MSO like Therapy Partners allows you and your team to work and build relationships with other high quality practices and their teams. It allows you to gain access to solid health plan contracts, practice management technologies, learning experiences, outstanding patient outcomes, and administrative services such as billing, accounts receivable management, and payment processing. TPI delivers Triple Aim Value – measurable quality, an exceptional patient experience, lower total cost of care.

We deliver value to health plans, ACOs, self-insured businesses, and workers’ compensation carriers. By delivering many high quality clinics and clinicians, TPI delivers convenient access to handle a large volume of patients. By contracting under a single TIN, we simplify contracting and payment processes for health plans; that reduces their costs. By providing them measurable quality outcomes using FOTO, we bring our risk-sharing partners predictability in cost and functional outcomes. Value

Plain and Simple

TPI allows its members to Get BIG, yet Stay Small. Gain market strength while owning your small business. Best of both worlds. The timing is right for Therapy Partners. The market is consolidating. The powerful decision-makers want to work with BIG organizations. It’s simpler and less costly. Those decision-makers also want providers who measure outcomes, deliver value, and share financial risk.

Therapy Partners is a powerful solution for independent practices. Especially for a young therapist with a start up practice. Let’s talk. We can help you understand how to Start Your Own physical therapy business.

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