When considering disciplines in pediatric therapy—Physical, Occupational, Speech, and ABA therapy—one stands out. Here’s a hint: this discipline is typically compensated the least per hour by insurance and employers.
If you guessed Speech Therapy, you're spot on.
Context
Pediatric Speech Therapists have been notoriously overworked due to low insurance reimbursements.
Consequently, they often handle twice the number of patients, conducting 30-minute sessions to manage their workload. This means not only double the patients but also double the paperwork.
Despite treating two patients in the same timeframe as their OT and PT colleagues, Speech Therapists still earn the least.
So, who advocates for Speech Therapists?
-Insurance companies? Certainly not.
-Employers? Doubtful.
-The National Speech Association? Unfortunately, no.
My Theory
For too long, Speech Therapists have faced an uphill battle within the industry.
The trend became particularly concerning as many overworked therapists chose to leave the profession in search of better work-life balance.
However, they've begun to take innovative steps to improve their situation, signaling a significant shift:
Frustrated with low insurance reimbursement rates? Some now opt for a cash-only business model.
Concerned about low salaries? Others now choose to bill insurance directly.
What I have learned from Speech Therapists
As a new entrepreneur myself, I've gained valuable insights from the innovation of Speech Therapists.
Here’s what they've taught me:
1. Don’t do it alone: Build and maintain a strong support network with other therapists that have a bias towards taking action.
2. Create your own solutions: Be proactive in addressing challenges rather than waiting for others to resolve them.
3. Diversify: Extend beyond one-on-one therapy sessions to explore additional income streams.
4. Learn quickly and adapt: Embrace the dual nature of your role as both a therapist and a business owner. Stay agile and responsive to change.
My Prediction
I am confident that in the next decade, Speech Therapy will:
Dominate the cash-based business model due to their extensive experience and a more robust social media presence compared to other disciplines.
Attract a surge of students drawn by the potential for higher earnings, continual innovation, and greater autonomy in their careers.
About the Authors
Sergio A Rodriguez, OTR, MOT, and Rosa Benavidez Saldivar, M.S., CCC-SLP, serve as the foundation of Pediatric Constellation, a platform committed to streamlining the process of finding the right therapy services for parents.
Sergio, with five years of specialized experience as a pediatric occupational therapist, focuses on enhancing functional skills crucial for child development. Rosa complements this expertise with her three years in pediatric Speech-Language Pathology, employing a blend of modeling, play-based activities, and a total communication approach to improve children's speech and language skills.
Collectively, they exemplify the company's vision of making high-quality, specialized therapeutic services accessible to parents in a quick and efficient manner.
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