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Top 10 how to make more money as a physical therapist That Will Change Your Life

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Below is information and knowledge on the topic how to make more money as a physical therapist gather and compiled by the nhomkinhnamphat.com team. Along with other related topics like: How to make $200k as a physical therapist, Highest paid physical therapist specialties, How to make more money as a physical therapist assistant, Alternative jobs for physical therapists, Can you make a lot of money as a physical therapist, Passive income as a physical therapist, Physical Therapy Consultant salary, Physiotherapist vs physical therapist salary.


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7 Side Hustles for Physical Therapists (and Students)
ke the Most Money as a New Grad Physical Therapist

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Let’s face it: physical therapy school is expensive. REALLY expensive. Even if you get a scholarship, save up money or have generous benefactors, chances are you’re going to be in quite a bit of debt when you finish school. While we all want to practice in the ideal setting and work for the right company, where we feel valued and can make an impact on our patients’ lives, sometimes working in that dream job right after PT school means sacrificing income.

Of course, none of us chose PT for the money, but paying off PT school loans as quickly as possible is a respectable and wise life choice to secure your financial future. Today’s NGPT article aims to help new physical therapists whose priority is to maximize their income.

You can take several paths to high income. One is working your tail off at multiple moderately paying jobs. If you’re dead set on working in outpatient ortho, this may be the solution for you. Another is working in the more high-paying settings, though they may not be as glamorous. Yet another is opting to travel. And still another is to simply live extremely lean. If you’re serious about making some post-PT school dough, this is the article for you!

1. Work for a SNF or Home Health agency

These are the highest paying settings for a therapist. Home health physical therapy pays very well when you can make it work for you and have the right support system. If you’re spending half your day commuting from one end of town to the other, that’s unpaid time that will lead to frustration.

SNF rehab is a popular choice for new grads looking to offset their debt. Because they are not always the best environments to hone PT skills as new grads, you may want to consider that choosing the right setting as a new grad is one of the most important decisions when you first graduate. Make sure you balance financial needs with personal and professional growth.

2. Work in an environment that offers bonuses/incentives.

Listen, this may not be the most stress-free or patient-focused approach for every PT, but some folks thrive on volume. They simply learn the most when they see the most patients. If you can maintain your integrity and provide quality patient care, read on. There is a plethora of options for you if you thrive on fast-paced and performance-rewarded therapy. Be wary of accepting a position in a private clinic that only rewards productivity, though. This can quickly lead to burnout.

When you receive a job offer, you can ask if you will receive bonuses or pay bumps if you take extra continuing education, work weekend shifts, lead initiatives to expand the clinic or teach seminars.

2. Work in an environment that offers paid overtime

Very rarely will you find a small clinic that is willing to pay overtime; in fact, it’s frequently the opposite problem. Private clinics are notorious for keeping employees after hours to treat additional patients or to do paperwork, without paying them overtime.

On the other hand, larger corporations and hospitals are much more careful with how they treat employees, and typically frown upon unpaid overtime. Some larger hospitals will frequently run on the edge of understaffed. If you work in an environment where the option to stay overtime is on the table, take it! Even better, specialize or become experienced in a way that will put you in higher demand.

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3. Work weekends

Continuing from above, the most difficult times to staff are the weekends. When negotiating a wage, you may be able to command more when you accept the times that other therapists balk at working. Don’t be afraid to politely inquire about the possibility of increased pay if you’re accepting a position that involves working every Saturday.  That said, some large hospitals have set new grad wages, and there is little to no room for negotiation. If you are looking to work overtime (as discussed above), weekends are much easier times to have overtime approved, since there’s usually already a paucity of staff on those days and your supervisor may simply want the patients seen, no questions asked.

4. Sign up to do travel therapy

Travel physical therapy has great appeal to new grads. In addition to offering significantly higher pay than pretty much any other gig, you get the opportunity to have paid relocation costs, paid licensing fees and paid housing. If you moved away for school, you’re already far from home, so why not!? To play devil’s advocate, travel PT can be a tough setting for a new grad. On top of getting your feet wet as a treating therapist, you also need to learn new documentation systems and uproot every few months, just as you’re starting to feel comfortable. But if you’re the type that thrives on change, travel PT is undoubtedly the best way to make some dough out of physical therapy school.

5. Move to a rural location

I grew up in a rural part of Texas and, if I had fulfilled my parents’ dreams and returned to practice physical therapy there, I’d be a wealthy woman. It’s not that the salaries are always that much higher (they sometimes are, but no guarantee); the clincher is that the cost of living is quite low. A penny saved is a penny earned, especially when you’re repaying loans and dealing with interest rates. You may not be super enthused about some of the practice locations, but think of life as an adventure; you just may have the time of your life living in the boonies!

6. Avoid salaried/benefited positions

Salaried positions, by definition, are not paid hourly. You receive a set salary for your role as a PT. Hourly positions, on the other hand, pay you for the time you work. Many small clinics offer salaried positions, then load you up with patients so that you’re treating every second of the time you’re at work. Then you’re expected to take your documentation home and work more after clinic hours. Not only is that a recipe for premature burnout, it’s pretty much going to guarantee that you can’t add a second job to the mix if you need the extra income.

Benefited positions were the way of our parents’ generation. Guaranteed medical and dental was a must for our parents, but they didn’t have the option of the Affordable Care Act. Love it or hate it, Obamacare gives you the option to free yourself from the golden shackles of full-time PT work. If you pay for your own insurance through Obamacare, you can seek per diem positions with the highest hourly rate possible, while allowing yourself the flexibility to explore multiple settings and learn while you earn (<--see how I rhymed that?)

7. Live Lean

Don’t roll your eyes here. I got a little burned out a few years after graduating from PT school. Yes, it was fast, but I had been working in a setting I didn’t realize wasn’t the right fit for me. I decided to switch to per diem for awhile and take more days off for my sanity, while exploring multiple settings. I started cutting costs by limiting dining out, shopping for things I didn’t need (I’m looking at you, TJMaxx), cable, etc. I also moved in with a roommate, which cut down on monthly overhead. Don’t be afraid to give yourself a monthly challenge, such as cutting your grocery bill by 50% or only drinking beer at your home. You’ll be surprised how much you can save. Pack your lunch. It’s almost always the more frugal route.

Enlist the help of a friend to make saving money more fun. Before I went to PT school, I saved aggressively. I didn’t want to be drowning in debt after school, so a friend and I started the dollar meal challenge. Each of us would contribute an item that cost $1 or less. Meals typically consisted of tuna fish on bread with BBQ sauce and an apple. We did this on many nights. It was surprisingly fun and we came up with some really clever meals on nights that it would have been tempting to drop $10 on a quick dinner without batting an eye.  I realize this is extreme, but it’s an option to really cut your costs while you pay down your loans.

Mr. Money Mustache is a fantastic resource for anyone attempting to lead a frugal lifestyle.

8. Move to Alaska

The SHARP program seeks to fill positions in rural Alaska areas with qualified healthcare professionals. There is such a need for these professionals that, after three years, Alaska will pay off your student loans, if you’re in good standing with the program. If you fall in love with your job, you can also opt to extend your contract. Learn more on the website.

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9. Open a Cash-based practice

This is a tough one to suggest to new grads. Unless you’re VERY confident in your abilities as a PT and have a guaranteed stream of patients, it can be challenging to jump right into a cash pay practice right out of physical therapy school.

If you’re the type of PT who thrives on being the best of the best, you will likely thrive in a cash pay environment. Without the constraints of decreasing insurance reimbursement and clinic red tape, you can treat patients the way you want, while making a very good living.

12. Get Rich Slowly

One of the best ways to become wealthy is to invest wisely. If your employer offers a 401k/403b or any other retirement savings plan, use it. If your employer matches your contributions, even better. Contribute the maximum amount you can afford to your retirement savings, as that is your way to secure your financial future and avoid the burdens of taxes in the process. NGPT is planning to write more on this topic, so stay tuned!

Some parting words:

Remember to temper your expectations with a dose of reality. While you may have earned a DPT in grad school (and, no doubt, you worked your tush off while earning that degree), the biggest factor in how much you’re paid is your years of experience.  Try to be patient and, in the meantime, enjoy the fact that you get to paid to love your job 🙂

What do you think, new grads? Are you working in a setting where you’re able to meet your financial goals?

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Interested in travel physical therapy? Check out available positions below!

Extra Information About how to make more money as a physical therapist That You May Find Interested

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How to Make the Most Money as a New Grad Physical Therapist

How to Make the Most Money as a New Grad Physical Therapist

  • Author: coremedicalgroup.com

  • Rating: 5⭐ (69704 rating)

  • Highest Rate: 5⭐

  • Lowest Rate: 3⭐

  • Sumary: Physical therapy school is expensive. Even with a scholarship, saved up money or generous benefactors, chances are you’ll be in debt when you graduate.

  • Matching Result: How to Make the Most Money as a New Grad Physical Therapist · 1. Work for a SNF or Home Health agency · 2. Work in an environment that offers bonuses/incentives.

  • Intro: How to Make the Most Money as a New Grad Physical Therapist Let’s face it: physical therapy school is expensive. REALLY expensive. Even if you get a scholarship, save up money or have generous benefactors, chances are you’re going to be in quite a bit of debt when you finish school….
  • Source: https://www.coremedicalgroup.com/blog/make-the-most-money-new-grad-physical-therapist

Make More Money in Less Time: How to Win at Physical ...

Make More Money in Less Time: How to Win at Physical …

  • Author: blog.getluna.com

  • Rating: 5⭐ (69704 rating)

  • Highest Rate: 5⭐

  • Lowest Rate: 3⭐

  • Sumary: While there are challenges to making a fulfilling career in physical therapy, what other career has the capability of being so rewarding?

  • Matching Result: How to Make More Money as a Physical Therapist · 1. Pay down all bad debt or don’t get into it · 2. Charge what you’re worth · 3. Go out on your own.

  • Intro: Make More Money in Less Time: How to Win at Physical Therapy Your time is valuable; charge what you’re worth! By Lily Beltran Having a good financial foundation can help someone have a more fulfilling life. And thanks to a booming economy, many goods and services are becoming more expensive….
  • Source: https://blog.getluna.com/make-more-money-in-less-time-how-to-win-at-physical-therapy

How to Earn More As A Physical Therapist - Glassdoor

How to Earn More As A Physical Therapist – Glassdoor

  • Author: glassdoor.com

  • Rating: 5⭐ (69704 rating)

  • Highest Rate: 5⭐

  • Lowest Rate: 3⭐

  • Sumary: Learn how to make more money and increase your income as a physical therapist.

  • Matching Result: Specialization is one of your best bets for getting a raise as a physical therapist. … Another — albeit less conventional — way to see higher …

  • Intro: How to Earn More As A Physical Therapist | GlassdoorA Guide to Earning More As A Physical Therapist The physical therapy profession is vast, varied, and diverse. Physical therapists work with patients of all ages to diagnose physical injuries, create treatment plans, monitor progress, rehabilitate after injuries, manage chronic conditions,…
  • Source: https://www.glassdoor.com/blog/guide/how-to-increase-your-income-as-a-physical-therapist/

4 Physical Therapy Side Hustle Ideas for 2022

4 Physical Therapy Side Hustle Ideas for 2022

  • Author: thenonclinicalpt.com

  • Rating: 5⭐ (69704 rating)

  • Highest Rate: 5⭐

  • Lowest Rate: 3⭐

  • Sumary: If you’re looking for a physical therapy side hustle, you’re far from alone. With reimbursements plummeting, school debt climbing, and COVID-19 shaking up

  • Matching Result: A cash-based practice is a great side hustle for PTs who love treating, but also enjoy marketing (and, preferably, have some business acumen).

  • Intro: 4 Physical Therapy Side Hustle Ideas for 2022If you’re looking for a physical therapy side hustle, you’re far from alone. With reimbursements plummeting, school debt climbing, and COVID-19 shaking up the industry, new grads and experienced therapists alike are turning to side gigs.PT side gigs can help you diversify your…
  • Source: https://thenonclinicalpt.com/physical-therapy-side-hustle/

4 Alternative Income Options for PTs - WebPT

4 Alternative Income Options for PTs – WebPT

  • Author: webpt.com

  • Rating: 5⭐ (69704 rating)

  • Highest Rate: 5⭐

  • Lowest Rate: 3⭐

  • Sumary: Paycheck coming up short? We have some ideas.

  • Matching Result: Writing. Writing is one of the most underrated alternative income streams for physical therapists. · Consulting. Many of us have niche knowledge …

  • Intro: 4 Alternative Income Options for PTs There’s no denying it: these are unprecedented times. The novel coronavirus has turned our world on its side, and we’re being forced to reckon with changes many of us never thought possible. Despite many states dictating that PTs are essential health providers during the…
  • Source: https://www.webpt.com/blog/4-alternative-income-options-for-pts/

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Earning Six Figures in Six Months as a New Grad Physical ...

Earning Six Figures in Six Months as a New Grad Physical …

  • Author: traveltherapymentor.com

  • Rating: 5⭐ (69704 rating)

  • Highest Rate: 5⭐

  • Lowest Rate: 3⭐

  • Sumary: Earning Six Figures in Six Months as a New Grad Physical Therapist – Travel Therapy Mentor

  • Matching Result: I was able to earn a high paycheck every week by starting my career as a Travel PT, making over $7,000 per month after taxes. This added up to …

  • Intro: Earning Six Figures in Six Months as a New Grad Physical Therapist Guest Post by Traveling Physical Therapist Jeff Camara, PT, DPT EARNING SIX FIGURES IN SIX MONTHS We can all agree that the cost of obtaining a graduate degree vs. the income for physical therapists isn’t exactly an equal…
  • Source: https://traveltherapymentor.com/2020/12/03/earning-six-figures-in-six-months-as-a-new-grad-physical-therapist/

The List Of Physical Therapy Side Hustles - Money Mobilizer

The List Of Physical Therapy Side Hustles – Money Mobilizer

  • Author: moneymobilizer.com

  • Rating: 5⭐ (69704 rating)

  • Highest Rate: 5⭐

  • Lowest Rate: 3⭐

  • Sumary: The up-to-date list of physical therapy side hustles provided by Money Mobilizer. Find the perfect side hustle to make more money on your own time.

  • Matching Result: Like the idea of making more money while working from home? Starting your own blog is worth considering. If you’re not sure what to blog about, …

  • Intro: The List Of Physical Therapy Side Hustles This post may contain affiliate links which, if you choose to utilize, can provide me a commission at no charge to you. Please read my disclaimer for more information. Money Mobilizer also receives compensation or remuneration from some or all of the companies…
  • Source: https://moneymobilizer.com/the-list-of-physical-therapy-side-hustles-in-2022/

Frequently Asked Questions About how to make more money as a physical therapist

If you have questions that need to be answered about the topic how to make more money as a physical therapist, then this section may help you solve it.

What kind of physical therapist earns the highest salary?

Here are five physical therapist specialties that have high salaries:

  1. Sports medicine. Physical therapists who specialize in sports medicine treat professional and amateur athletes. …
  2. Cardiovascular. …
  3. Geriatrics. …
  4. Neurology. …
  5. Pediatrics.

Where do physical therapists earn the most money?

10 States with the Highest Pay for Physical Therapists

Rank State 2018 Mean Annual Wage
1 Nevada $107,920
2 Alaska $99,180
3 New Jersey $97,770
4 New Mexico $97,210

6 more rows?

Can a physical therapist make six figures?

In some settings, such as outpatient and schools, it would be harder to reach this number due to lower profit margins, but it is possible for PTs to earn a 00,000 or more with some tweaking of the modifiable factors: Where you work, How Often You Work, and What You Do At Work.

Is it possible to support yourself as a physical therapist?

In 2020, the median pay for physical therapists was $1,010, with the highest paid 25% earning $6,060 and the lowest paid 25% earning $5,360.

Is nursing more difficult than physical therapy?

When comparing the educational requirements to start a career in these two fields, physical therapy is typically seen as the more difficult choice because it typically requires multiple degrees, including a doctoral degree.

Is physical therapy work worthwhile?

Physical therapists can help patients regain their mobility or activity level, making this a rewarding career for people who enjoy fostering working relationships. If you’re an extroverted person who enjoys getting to know people over the course of a workday, physical therapy may be a career that you enjoy.

Can PTs earn more than $100,000?

Yes, it is possible to earn $00,000 annually as a physical therapist. Because the highest-paying physical therapist positions typically bring in at least $1,000 annually, the likelihood of earning over $00k for a physical therapist is actually quite good.

Is PT travel worthwhile?

There is tremendous earning potential. According to an article by the APTA, positions in traveling physical therapy can pay 15% to 20% more than those in permanent physical therapy.

How much debt is DPT worth?

If you are interested in money, it is obvious that taking out six figures in student debt and delaying your earnings for three years after undergrad for a salary that is typically under six figures is not a wise financial decision.

Can you use the title “DR” with a DPT?

Technically speaking, a DPT is a doctor because completing a three-year Doctor of Physical Therapy program qualifies you to use the title “Dr.” before your name.

What percentage of physical therapists experience burnout?

Lo et al., (2017) found that the prevalence of burnout in physical therapy is 45- 71%. (2018) found that if a physical therapist is working in a less ideal setting than they had envisioned for themselves and cannot achieve desired achievement results, it can lead to burnout.

Why do PTs leave their jobs?

Physical therapy can be a long, difficult journey; sessions can occasionally be painful, both during and after; this can hide the benefits of physical therapy and make you question whether it is truly worthwhile; for these and other reasons, many people give up on physical therapy.

When do the majority of physical therapists retire?

Physical therapists typically start their careers when they are about 25 years old, when they are fresh out of graduate school, and they typically retire when they are about 60 years old.

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7 Side Hustles for Physical Therapists (and Students)

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