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The Power of Entrepreneurship in Physical Therapy

How the Gig Economy Can Change Your Life for the Better
By Lily Beltran | October 18, 2018
The Power of Entrepreneurship in Physical Therapy

As we’ve talked about in our past articles, independent contracting can be an essential component in creating an ideal work-life balance. Independent contracting and being your own boss is becoming increasingly popular. Known more recently as the "gig economy", independent contractors generally benefit from better working conditions, more flexible hours and a higher wages that full-time employees. In fact, 1 in 5 people are currently serving as independent contractors and over half the population is interested in obtaining self-employment.

Increased Work-Life Satisfaction

At Luna, an ideal work-life balance is reached where there is superior quality of care, flexibility in scheduling, and personal independence to define your practice. More than two thirds of independent workers report being satisfied with their work arrangements, according to gigeconomy.org.

Elaine, a physical therapist, explains how Luna is helping her balance her life in order to take part in her hobbies and personal passions. Professionally, she details how rewarding it is to pursue her own vision of care: “I’m defining how I spend my time. I spend more time per session with patients, I earn more income, and as a result, I can spend more personal time kayaking or visiting my sons. After recharging my own needs, I am more energized and prepared to help my patients.”

Higher Earning Potential

Palak Shah, Head of Physical Therapy Services, explains that the roles of physical therapists have grown exponentially over the years, with improved diagnostic and decision making skills. While the recent direct access rules show confidence in the prospects of the profession, unfortunately, the raise in the salary range for the therapists hasn’t reflected that knowledge. Shah pointed out that the average national salary for physical therapists is around $60k, something she considers inequitable to the significant contribution that physical therapy contributes to healthcare. Shah states, “Being an independent contractor, being flexible, and still being able to earn more sounds like a change well deserved for hardworking PTs. Luna has truly focused on what most benefits a therapist.”

Many root their satisfaction in income their independent work provides. In many cases, contracting work smooths unstable earnings from a traditional job. For others, it helps people cope with financial hardships, pay for traveling or other extra expenses. Being able to take time off to spend time with your family or pursue your favorite hobbies can be a game-changer in terms of creating your best work-life balance.

“Transitioning from part-time work to full-time with Luna has been a game changer for me,” said John, a therapist for Luna. “Particularly with how expensive it is to live comfortably in the bay area. Compared to my previous clinic, my earning potential and subsequent monthly income has increased dramatically.”

Greater Autonomy

Having autonomy allows you to have choices in the direction you want to go in your life. Every decision you make is your own, which can be empowering and increase your well-being.

As Shah points out, it is impressive that there are so many different approaches and philosophies of treatment in physical therapy. No therapist treats exactly like another. Having autonomy in a flexible and independent work environment provides the opportunity to pursue a treatment approach that best resonates with your skill set. This autonomy helps improve your work satisfaction and also improves patient outcomes.

Gig Work and the Future

Over the past two decades, the number of people engaged in independent work has increased across most measures. The independent workforce is central to today’s economy. Regardless of discrepancies between measures and predictions for the future, the recent growth of the gig economy represents a fundamental shift in the way work is being performed and the relationship between workers and companies. Workers are increasingly being asked to take on responsibility for their economic security, as companies strive to react quickly to market conditions and pressures.

The Satisfaction of Being your Own Business Owner

Becoming your own boss has a seemingly endless amount of benefits that are waiting to be fulfilled. Imagine being able to take however many vacations you want. With Luna, you can do this and still come back to a full schedule of patients.

Or like our physical therapist, Ann Kramer has said, “I was fully on board as a career woman working 40 hours a week, but that was before I had kids. When I worked in a traditional clinic, I didn’t have that flexibility that I now have with Luna to take my daughter to a doctor’s appointment. I’m not quite sure how people balance raising a family and working full-time, particularly in the Bay Area, where child-care costs are so expensive. With Luna, I’ve achieved a great work-life balance where I can do both.”

We’re FIERCE about helping you achieve the work-life balance you deserve, as you take back control of your working life. At Luna, therapists are provided the opportunity to spend quality time with their patients in a more comfortable setting. Therapists feel empowered by Luna because we offer flexible work schedules, a strong earning potential, and less paperwork.

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