If you're interested in starting your own Private practice or a full scale treatment center business, there are a variety of things you need to consider before you get your new business off and running. Explore your Local, State and Federal licensure requirements for the modality of treatment you desire to open. Look through your Department of Human Resources for your State and see what it might take as far as the rules and regulations for a Rehab Center. Example in the state of Florida contact your local DCF office of Substance Abuse and Mental Health. http://www.dcf.state.fl.us/samh
Remember to apply for your Federal Tax ID number. The IRS form SS-4 can be located on this site: www.IRS.gov. The U.S. Small Business Administration (SBA) provides a wealth of information on starting a business at the SBA home page sba.gov under "Small Business Planner." You will find information on writing a business plan as well. You may take advantage of SBA’s resource partners. The Service Corps of Retired Executives (SCORE) and the Small Business Development Center (SBDC) provides free one-on-one counseling to those interested in starting and expanding a business. This includes critiquing your business plan, legal requirements, marketing, and licenses needed for your business. To find the location nearest you, please visit us at www.SBA.gov and click on your state.
20 Questions Before Starting a Business
10 Steps to Starting a Business
Writing a Business plan and how to acquire grants
Choose & Register Your Business
It’s only a recommendation, you may want to incorporate or set up an LLC. If you operate your business as a sole proprietorship, “you” are the business. This means that all of the debts of the business will be your personal debts. Limited Personal Liability. “S” corporations and LLC’s both have the significant benefit of providing limited personal liability to its owners. You may want to acquire a good accountant or sit with your lawyer and discuss your options.
Write out a business plan. A good business plan will help you determine how much your start-up costs are going to be and what it's going to take to run your business. A thorough business plan forces you to look at your business structure and the market that surrounds your business idea
Brainstorm your marketing strategies. Network and introduce your facility to your colleagues and community. Consumers (Your patients/client's) use the Internet to search for providers. Do you have a good web site? Finding a web designer that specializes in the industry is key, allow us to connect you with individuals who can.
Many Insurance companies contract with private and corporate providers. Explore the various entities and apply for contracts. You may want to ask for their provider relations department. www.NASW.org provides an online list of national managed care entities.
How will you set your infrastructure? Will you perform all billing functions in-house, or outsource your billing? Will you have integrative services or collaborate with external resources? Collaboration is key!
Professional Liability Insurance will protect you,your employees and agency. Although there are many insurance companies to choose from, here are a few: