Benefits of private practise
Exciting and challenging
There's nothing like starting a new business to get your blood flowing and your neurons firing 24/7. A new private physiotherapy practice is full of promise. The start-up phase of any business is filled with creativity, brain-storming, and excitement. As your business grows and develops you will discover many under-utilised talents. You will be astonished and pleased as you face each challenge and develop new business skills. As the owner of a private practice it is unlikely that you will be ever be bored (although it is likely that you will feel overwhelmed times) as you will be called up to handle a variety of tasks and roles.
For many people starting their own private practice is the realisation of a dream. There is something tremendously satisfying from creating a service that is meaningful to the lives of others. Private physiotherapy practice can be fulfilling in ways not easily experienced in other aspects of the business world. In addition, being compensated financially for your services is another level of personal satisfaction that underlines the value of the service you are offering.
Often the number one reason for wanting to enter private practice is greater independence and autonomy. Being your own boss, to decide when you work, how you work, the clients you choose to work with, are the big attraction of starting a physiotherapy practice.
The number one stress employees experience in the workplace is their perception that they have little or no control over how they work, when they work and how service is delivered to clients.
When you are in private practice you gain control over all of these aspects of business. You gain control over the type of service you offer, the patients you work with, the quality of service, and your business process.
Direct link between your effort and reward
In private practice you benefit directly from the effort you expend. When you are an employee in an institution, the benefits of your labour are spread amongst you, your co-workers and your employer. Most often it does not matter how much, or how little, work you do, you are compensated at a fixed rate. In a solo private practice you are the direct beneficiary of your effort. If you choose to work three days per week or five days per week you will be compensated accordingly. If business is slow and you spend extra time marketing you will reap the benefits of your effort in the future. If you need to boost your income chances are if you work harder at getting more referrals your income will increase, especially if you provide a superior service targeted towards a particular type of patient.
Working in your own private practice means that you decide what you want to be paid. You determine your hourly fees, how many hours you work, how much of your private practice income will be spent on improving your business, on marketing. Your earning potential is less limited when you own your own practice versus working for an organisation. As the owner of your private practice, (as long as your business is financially viable) you are not at the mercy of a workplace hierarchy.
Flexible work schedule
Being in private practice allows you some flexibility outside the traditional 8.30 '?? 4.30 world of hospital work to better manage your work life balance. You can arrange your private practice schedule in accordance with your personal, social, and family life. If attending the yoga class at your local gym four times a week is a priority for you when you are in private practice you can schedule your clients around that time. You are better able to schedule your holidays on time to coincide with your partner or friends. For some private practitioners the ability to combine paid work with meaningful volunteer work is an important benefit of running a private practice.
Your private physiotherapy practice work can fit with whatever stage of life you are in. If you are a parent with young children and want to share the care of your children with your partner you can schedule your private practice appointments when you partner is able to care for the children. Perhaps seeing clients on the weekends rather than during the week is a better fit with your lifestyle or part-time employment than only seeing clients during the week. If you choose to have a home practice you are afforded a greater work-life flexibility.
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