The Applied Behavior Analysis (ABA) field is both rewarding and challenging. As a Board Certified Behavior Analyst (BCBA), you might be considering setting out on your own and running your own private practice, whether that be due to a desire to work more independently, or for any other reason. For most BCBA’s, starting your own practice will certainly be one of the most exciting ventures that you take on in your life, however, being unprepared can lead to stress and pressure that in turn, can negatively affect your business’ success. If you’re thinking about taking the next step up to clinic ownership, here are some tips that you may find useful.
Tip #1. Do Your Research and Give Yourself Time:
You probably have all the motivation and energy needed to get started on your private practice immediately, however, keep in mind that rushing into things and failing to properly put together an effective business plan, developing your business entity and carefully considering your decisions will be a huge risk. Before setting up and getting started, you’ll greatly improve your chances of success by studying your competitors and improving your business knowledge; you can do this whilst obtaining the proper paperwork which could require support from lawyers, accountants, and other professionals in your business industry.
Tip #2. Create Policies:
Running a successful business means having the right policies, procedures and forms in place. This is especially true for BCBA practices, which deal with the public on a regular basis. You will need to put together an extensive collection of paperwork, which includes but is not limited to: billing policies, fee schedules, cancellation policies, treatment notes and case histories, evaluation forms, scheduling notes, privacy policies, insurance claim forms, and employee guidelines. In this type of business, your procedures for staff when dealing with clients should be set and enforced from the very beginning; consistency is key in this environment.
Tip #3. Get Your Funding in Order:
Unless you are fortunate to have an independent income stream that you can use for running your practice for the first few years whilst you establish yourself, then you’ll likely need to gain some capital from outside investments. It’s a good idea to wait until your business has been fully thought out, with strong policies and a solid business plan, before pitching your idea to lenders. Be sure to keep in mind the type of services that your ABA clinic is going to offer, your own rates, and the payment type that you’ll be accepting – for example, will you be able to take insurance payments? You can use salarieshub.com to determine how much you should be charging for your ABA services.
Tip #4. Anticipate Growth:
Last but not least, the field of behavior analysis is rapidly growing and therefore it’s crucial for practice owners to anticipate growth and expansion. Invest in a strong marketing plan, both online and offline, to gain more exposure for your practice and help you build a solid brand.
Did you enjoy these tips? We’d love to hear from you in the comments.