Occupational Therapy and Entrepreneurship

Julia Kuehn, MOT, OTR/L

For occupational therapy practitioners, entrepreneurship often takes the form of private practice or consultant, with many creative outlets available. The term entrepreneur originated from the French word entrepren(dre): “to undertake” (dictionary.com). Entrepreneurs, therefore, are individuals who undertake the responsibility of developing a business or product to meet a need.

Being an entrepreneur is no easy task, because 95% of startups fail, and for many reasons, including lack of preparation, lack of experience, founders’ personal problems, miscalculating finances, and failure to address a problem that customers would like solved (CB Insights, 2019). Pursuing a career path as an entrepreneur includes extensive networking and preparation to ensure success. If you’re willing to put in the work, an entrepreneurial pursuit has the ability to re-ignite your fire and compassionate spirit. Three occupational therapy entrepreneurs (Brittany Conners, OTD, Owner of Optimistic Theory LLC; Robin Akselrud, OTD, Founder of My OT Journey podcast and former private practice owner; and Tee Stock, OTD, Independent Contractor for Pediatric Home Health Services) shared the following valuable information and insights into starting an OT business, along with advice for individuals looking to start their entrepreneurial journey.

1. Pursue something that you are passionate about. The entrepreneurial road can be long and strenuous, and our OT entrepreneurs strongly recommended only pursuing a topic that you are passionate about. A successful entrepreneur will spend a significant amount of time and energy devoted to their business. Therefore, find something meaningful to invest this energy in. Passion for a topic can contribute to a lower risk for burnout throughout this process.
2. Know your value and discover how to market it. Your entrepreneurial pursuit should meet an identified need in your geographical area. It is important to know how to articulate the potential value of your business and then utilize appropriate marketing methods to expand. Marketing may include establishing a website where people can express interest in your services, developing a social media presence (e.g., Instagram, Twitter, Facebook page) to promote your services, or developing relationships with prospective clientele, payers, or referrers.
3. Search for a knowledgeable mentor. It is important to remember that throughout your entrepreneurial pursuits you are not alone! One of the leading contributing factors to entrepreneurial success includes utilizing knowledgeable mentors. Our OT entrepreneurs recommended networking and finding a mentor to bounce ideas off of, to consider aspects of the business that you may be missing, and to provide support throughout your journey. Identifying mentors can start through discussions with your OT school professors, with people you have networked with, and through community groups (e.g., Facebook groups, CommunOT’s Private Practice and Entrepreneurial Community, your local Small Business Association). One of the benefits of finding a mentor outside of the occupational therapy profession is that they provide an additional perspective on your service to strengthen your business plan and marketing strategy.
4. Do your research! When considering your entrepreneurial interests, it is imperative to know what the market in your geographical area provides for occupational therapy reimbursement and from whom you will receive client referrals. Knowing your specific market provides you with general guidelines for what is sustainable for your business, as well as for setting realistic goals. Realistic planning for your entrepreneurial endeavor will help ensure success and stability throughout the ups and downs of business.
5. Consider finances and protecting your assets. Our OT entrepreneurs recommended meeting with a financial planner to help direct funding for your services, as well as ways to secure funding for start-up costs related to pursuing entrepreneurial aspirations. It is also imperative to understand how billing works, how to deal with insurance denials, the best ways to acquire malpractice insurance, and how to set reasonable expectations for productivity and provision of services.
6. Use your resources. Resources that can aid in financial comprehension include AOTA resources on coding and billing, tutorials from insurance companies on paperwork, local universities’ business schools, your local Chamber of Commerce chapter, the Business Fundamentals for the Rehabilitation Professional workbook, online workshops, and more.

A career as an entrepreneurial occupational therapy practitioner can be a worthwhile endeavor. The best ways to prepare for success include utilizing your network, organizing your finances, and planning for the twists and turns that accompany the business world. Who knows—you might be the next OT entrepreneur!

Julia Kuehn, MOT, OTR/L, is a new graduate occupational therapist who received her MOT from Saint Francis University, located in the small town of Loretto, Pennsylvania. Julia completed Level II fieldwork placements in acute care at a Level I trauma center and in outpatient pediatrics. She completed an additional fieldwork with the American Occupational Therapy Association, where she worked with the Evidence-Based Practice team. Some of Julia’s most treasured occupations include crocheting, reading, social participation with family and friends, and cooking.

References

CB Insights. (2019, November 6). The top 20 reasons startups fail. https://www.cbsinsights.com/research/startup-failure-reasons-top/ 

Entrepreneur. (n.d.). Dictionary.com.