How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Cher Your Own Question

Cher
Cher, Educator-40+ yrs
Category: Medical
Satisfied Customers: 19477
Experience:  M.A., B.A., Author, Senior Informational Specialist
1470369
Type Your Question Here...
Cher is online now
A new question is answered every 9 seconds

Hello we are looking to open Speech therapy officeand I cant

Resolved Question:

Hello we are looking to open Speech therapy office
and I can't find anyone to give me an advice what to specifically look for
and make calculation on what to bill.

Anyone out there can help?
will pay.

thank you.
Submitted: 2 years ago.
Category: General
Expert:  Cher replied 2 years ago.
Hello, and welcome back to Just Answer!

My name is XXXXX XXXXX it will be my pleasure to help you with your question today.

Your fees will depend on whether you are giving indidividual or group speech therapy and the qualifications and experience of your therapists. Also, you will need to decide which insurance you will accept and apply to be a participating provider for certain health insurance companies. You will also want to consider whether you will accept patients covered by Medicare and/or Medicaid. Your location will also impact what is an acceptable fee to charge for your services in your particular area. This article will provide many good suggestions on how to successfully open your own office and begin your Speech Therapy practice:
http://www.ehow.com/how_4926364_started-private-practice-speech-pathology.html

You will also need to think about billing and what methods you would like to use; this article provides an example of a patient invoice and other information from an experienced clinician:
http://independentclinician.com/freshbooks-great-resource-for-billing-slp-ot-pt-visits/

You can read several excerpts about particular areas of owning/administrating a private practice, from the book above, without actually purchasing the book, unless you feel it will be helpful to do so.

The information here, will also be helpful:
http://blog.asha.org/2010/12/07/starting-my-private-practice/

A lot would also depend on whether you are planning to treat children and/or adults in your office.

You can get an idea of salary, below, but nowadays, it's a little higher; more like $35-$100 an hour, depending on all the circumstances listed above:
http://www.ehow.com/info_8356681_much-speech-pathologist-make.html

I wish you the best of luck in opening your own practice!

Please let me know if you need any additional information or clarification by clicking 'Reply' and directing your response to me, 'Cher'.

A Positive Rating and Feedback are always welcomed and greatly appreciated.

Best regards,
Cher
Expert:  Cher replied 2 years ago.
Hi again,

I also wanted to mention that while you're preparing to get your private practice started, you might consider doing some work at schools, hospitals, nursing homes, and/or seeing clients in their own homes, if you're not currently doing that now.

Best regards,
Cher
Customer: replied 2 years ago.

Thanks for your reply and for detailed info.

My main concern is the math.

Im trying to understand if its worth it and what will be the total Gross annual income of running a private practice.

Lets say I get about 10 new clients a month, and each client I think usually treats one or 2 times a week for about 6 month to 1 year, correct?

Speech therapist gets paid about $60 per hour, and you bill a client $50 per 30 minutes.

Am I seeing this the right way?

Expert:  Cher replied 2 years ago.
Hello again, and you're most welcome!

It's my pleasure to be of help to you.

Yes, you're seeing this the right way and I understand your concern of the income vs. the expenses. As I mentioned, how successful the practice is and how much your expenses are, are very dependent on the location, advertising (people have to know you're there), monthly costs like utilities, rent, etc., and initial start up costs. You will need to take all these factors into account before making your final decision.

If you're scouting around for a possible office location or you already have one in mind, find out all the particulars re: the expenses, first, and then decide if your anticipated income will be worth starting the venture.

Best regards,
Cher
Customer: replied 2 years ago.

Just wanted to make sure that in general clients have therapy 2 times a week for as long as 6 month to a year, correct?

Expert:  Cher replied 2 years ago.
Hi again,

Yes, this is the general frequency and timeframe, but remember there are many factors that will determine how many times a week and for what period of time a client will be seen. This will also depend on whether you are seeing children, adults, those recovering from strokes, etc., and what their insurance coverage allows. You need to keep all these factors in mind.

Best regards,
Cher
Customer: replied 2 years ago.
I really don't want to deal with insurance companies, I hear there are many problems with reimbursements. Just checks, cash, credit cards.

Customer: replied 2 years ago.
is there anything else that could be billed extra?
or its general 30 minute session?

if you get 10 people a month, thats say 30 patients in 3 month,
30 patients x 2 visits a week (8 visits a month each patient)
thats about 240 total visits in one month...
and it increases... in 6 month, thats 60 patients x (8 visits a month) = 480 visits a month.
Expert:  Cher replied 2 years ago.
Hi again,

I understand how you feel, and waiting for reimbursement can be a hassle, but nowadays most people have medical insurance and they may not want to see a Speech Therapist that does not accept any insurance, meaning they would be paying full price out of pocket. You would need to hire someone who knows how to properly bill the insurance companies, if you decide to go that way.

For those clients' who have insurance, co-pays could be by check, cash or credit cards. Credit card companies typically charge a fee for their use in a business, too.

If you choose to accept no insurance, I think you would be cheating yourself out of many clients who currently have insurance coverage.

Best regards,
Cher
Customer: replied 2 years ago.
which insurance companies you would recommend for me to accept?
Expert:  Cher replied 2 years ago.
Hi again,

I had already typed my answer to your next to last question when you sent your last one.

I don't see anything else that can be billed extra, unless you're providing an 'instrument' or 'tool' to have the client bring home to practice when they are not in the office for a session.

The general timeframe for a session could be 30 minutes or 60 minutes. It depends on the actual type of therapy and the client (children have shorter attention spans). Clients could come an average of twice a week, but some may come every day and some, once a week. Although it's necessary to keep up the therapy twice a week, if you don't want to accept insurance, this might be too costly for some clients.

Best regards,
Cher
Expert:  Cher replied 2 years ago.
Hi again,

Re: insurance companies, I'd start with Medicare and concentrate on all the big ones like Cigna, United Health Care, Aetna, etc. Medicaid typically does not pay their providers well or frequently; however, if you want to cater to lower income families with children and adults in your area who need Speech Therapy and only have Medicaid, it would be your call.

Best regards,
Cher
Customer: replied 2 years ago.
last question.

Do you approximately know the gross of an average speech therapy private office?

Expert:  Cher replied 2 years ago.
Hi again,

Please allow me to research this for you and get back to you shortly.

Please stand-by.

Thanks!
Cher
Expert:  Cher replied 2 years ago.
Hi again,

The average gross annual income would be between about $75, 000 and a little over $100,000 a year, but this is very dependent on location. However, people in this field are expected to have an increase in salary and demand for services as years go on, as many other Speech Therapists will be retiring (baby boomers?).

Best regards,
Cher
Customer: replied 2 years ago.
for 75,000 to 100,000 i think its just better to work for someone.
I guess working for someone and having your own practice is the same thing in terms of annual income.

i thought there was a potential to make 200k to 300k annually.
Expert:  Cher replied 2 years ago.
Hi again,

Well, as I said, it very much depends on your location and your clientele. Why don't you start out working for someone, see how the office is run, etc., and gather your information to decide if you want to open your own practice.

I would also think that seeing clients in their homes, in a school, or a hospital setting, might be advantageous for you.

I'll need to say goodnight now, as it's time for me to sign offline. It would be appreciated if you rated my answers in a positive manner and clicked 'submit' or 'accept' so I can be given credit for working with you today. Thanks!

Best regards XXXXX XXXXX of luck in your career!
Cher Laughing
Cher, Educator-40+ yrs
Category: General
Satisfied Customers: 19477
Experience: M.A., B.A., Author, Senior Informational Specialist
Cher and 78 other General Specialists are ready to help you
Expert:  Cher replied 2 years ago.
Hi again,

I'm just following up with you to see how everything is going. I hope the information in my answer was helpful.

Please let me know if you need additional information. Thanks!
Cher

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • I feel so much better today, and upon further investigation believe that there is a chance that the responses I got saved me from a serious, even life threatening situation. I am very grateful to the experts who answered me. Susan O. USA
< Last | Next >
  • I feel so much better today, and upon further investigation believe that there is a chance that the responses I got saved me from a serious, even life threatening situation. I am very grateful to the experts who answered me. Susan O. USA
  • I can go as far as to say it could have resulted in saving my sons life and our entire family now knows what bipolar is and how to assist and understand my most wonderful son, brother and friend to all who loves him dearly. Thank you very much Corrie Moll Pretoria, South Africa
  • I thank-you so much! It really helped to have this information and confirmation. We will watch her carefully and get her in for the examination and US right away if things do not improve. God bless you as well! Claudia Albuquerque, NM
  • Outstanding response time less than 6 minutes. Answered the question professionally and with a great deal of compassion. Kevin Beaverton, OR
  • Suggested diagnosis was what I hoped and will take this info to my doctor's appointment next week.
    I feel better already! Thank you.
    Elanor Tracy, CA
  • Thank you to the Physician who answered my question today. The answer was far more informative than what I got from the Physicians I saw in person for my problem. Julie Lockesburg, AR
  • You have been more help than you know. I seriously don't know what my sisters situation would be today if you had not gone above and beyond just answering my questions. John and Stefanie Tucson, AZ
 
 
 

Meet The Experts:

 
 
 
  • Dr. Thomas, MD

    Board Certified Physician

    Satisfied Customers:

    47861
    Internal Medicine--practice all of internal medicine, all ages, family, also Integrative, CAM, etc
< Last | Next >
  • http://ww2.justanswer.com/uploads/DR/DrThomasMd/2012-7-25_134438_Imagess1.64x64.jpg Dr. Thomas, MD's Avatar

    Dr. Thomas, MD

    Board Certified Physician

    Satisfied Customers:

    47861
    Internal Medicine--practice all of internal medicine, all ages, family, also Integrative, CAM, etc
  • http://ww2.justanswer.com/uploads/agketch/2008-7-14_184046_drketchresized.jpg Dr. Ketch's Avatar

    Dr. Ketch

    Board Certified Physician

    Satisfied Customers:

    76
    Medical Degree, Former Assistant Professor at School of Medicine at Yale University
  • http://ww2.justanswer.com/uploads/MY/mysticdoc/2014-6-23_23155_mysticdocimage.64x64.jpg Dr Basu's Avatar

    Dr Basu

    Experienced Specialist

    Satisfied Customers:

    17232
    MD
  • http://ww2.justanswer.com/uploads/FA/FamilyPhysician/2013-8-31_191624_JA550x500Photo.64x64.jpg Family Physician's Avatar

    Family Physician

    Doctor

    Satisfied Customers:

    2579
    Emergency Medicine and Family Practice for over 26 years
  • http://ww2.justanswer.com/uploads/DR/drappapo/2013-8-16_22576_drdavid.64x64.jpg Dr. David's Avatar

    Dr. David

    Board Certified Physician

    Satisfied Customers:

    224
    Treat children/young adults, former chief resident, multiple publications
  • http://ww2.justanswer.com/uploads/DrDLove/2009-08-12_141522_DrDLove.jpg Dr. D. Love's Avatar

    Dr. D. Love

    Doctor

    Satisfied Customers:

    13078
    Family Physician for 10 years; Hospital Medical Director for 10 years.
  • http://ww2.justanswer.com/uploads/CO/commissure/2011-4-15_192514_REISD20080926JR1090.64x64.jpg Dr. David's Avatar

    Dr. David

    Board Certified Physician

    Satisfied Customers:

    12648
    Experienced Physician trained in New York City. I'm ready to help.
 
 
 
Chat Now With An Expert
Cher
Cher
JustAnswer Expert & Mentor;Teacher/Tutor
1443 Satisfied Customers
M.A., B.A., Author, Senior Informational Specialist