How Private Practitioners Are Using School Contracts to Grow Their Private Practices: A Guide for Speech and Occupational Therapists
Today we’re going to talk about how SLPs and OTs are using school contracts to exponentially increase their income.
Before I get into how school contracts work, let’s talk about why they are becoming so popular.
And why you should consider adding school contracts as another stream of income for your private practice.
5 Reasons Why Private Practitioners Are Pursuing School Contracts
- You can make a lot of money. Some school contracts are worth $50,000 to $100,000 or more EACH! Getting a few school contracts is an excellent way to bring more revenue into your private practice.
- School contracts allow private practices to have “multiple streams of income.” Instead of just relying on private pay clients, insurance, etc. school contracts are just another way to be paid through your practice.
- School contracts are a great way to add consistent revenue to your private practice because they are contracts and therefore need to be paid on certain dates to fulfill the contract. Some private practitioners who struggle with “the feast and famine cycle” love the predictability of school contracts.
- There is a tremendous need for school-based therapy in communities all across the US, no matter whether you live in a rural, suburban or urban area. Many schools would prefer to work with a private practice than a large staffing company.
- You can hire subcontractors to fulfill the contract. You don’t have to deliver services themselves - you can hire subcontractors - which means it doesn’t take you away from the day to day of your private practice.
Many private practitioners have figured out that school contracts are an excellent way to expand the income of their existing practice.
But they don’t know the process of how to actually get school contracts.
Those who DO KNOW how to land school contracts are much more likely to get them than those who don’t.
So knowing how to get school contracts is extremely important, otherwise, it will be a waste of time and energy.
What are School Contracts?
School contracts are an agreement to provide therapy services by someone who is not employed by the school.
School contractors are (by definition) contractors, which means you have your own business in order to participate in the bidding process.
We teach SLPs and OTs how to start their own business in the Start Program and how to land school contracts in the Grow Program.
How Do You Get a School Contract?
In order to secure a school contract, you have to:
- Submit a bid proposal aka an RFP OR engage in a sales call depending on the school process (including understanding how to price your bid)
- Draw up the contract yourself (including understanding what to include and exclude from the contract)
- Provide the invoice (it’s important to understand what to include in the invoice and how frequently to provide it)
School contracts aren’t something that you can easily figure out on your own.
As contracting directly with the schools gets more popular, there will be more and more bidders per contract and/or more individuals engaging in contract conversations with the schools.
Private practitioners who know how to successfully land school contracts are much more likely to win contracts against those who don’t.
School contracts aren’t something that you can easily figure out on your own without wasting time and energy or becoming completely overwhelmed.
Results from Growers Who Have Landed School Contracts:
Many of our Grow Your Private Practice members are using school contracts as a way to serve their communities while increasing their income to grow their private practices.
Here are the resources available to Grow Your Private Practice Members that these Growers (and more) have used to land school contracts:
- School Contracts Course
- Sample School Contracts and Invoice
- School Contract Secrets with Tami Teshima, MA CCC-SLP
$20,000 Value Included With The Grow Program
Access to Information, Training, Sample Contracts and an Invoice on School Contracts is just ONE small part of what members get inside of the Grow Your Private Practice Program.
Adding school contracts to your private practice is a great way to increase your revenue and provide more income stability but in order to win school contracts, you have to understand the bidding process.
Learning how to get school contracts is valuable and can help you add an additional $20,000 to $100,000 per contract to your practice.
Want to Add School Contracts to Your Private Practice?
Come join Grow Your Private Practice so that you can get immediate access to our School Contracts Curriculum and Contracts.
This information alone will more than pay for the entire program.
To learn more about the Program, please visit www.GrowYourPrivatePractice.com
*School contracts aren’t covered in The Start Your Private Practice Program because they are a way to grow an existing business. By definition, contractors have their own businesses, so use the Start Program to set up your business. Additionally, it is very common for private practitioners to hire subcontractors to fill the contract. Hiring is more advanced and is therefore covered in the Grow Your Private Practice Program.