In a special re-release of one of our most popular episodes ever, Eddie Reece joins us to take a dive deep into the nuts and bolts of transitioning away from insurance and becoming a fully cash-pay private practice. At the time this episode was recorded Eddie’s ideas were extremely controversial. Since then, the idea of transitioning to private pay has become much more mainstream, but the motivation remains the same: If you take money from an insurance company, the insurance company is paying you. And who pays you, is who you work for. You do not work for that client. You work for that insurance company and you are now working for somebody who underpays you, under-respects you, and does not really have any good feelings about what it is you’re doing because you’re costing them money. If you take insurance, you’re not a business owner. You’re a sub-contractor. Listen to the full episode for more tips and information.
The Therapist Experience Podcast
Welcome to The Therapist Experience Podcast, the podcast where we interview successful therapists about what it's really like growing a private practice.
The Therapist Experience provides you with a full MBA in private practice building, and it's everything you wish you had learned in grad school but they never taught you.
We discuss everything from private practice marketing, the entrepreneurial journey, income streams, the importance of niching down, what to charge per session, how to use technology to grow your practice, and the roller coaster of being a business owner. Learn from other mental health professionals about what worked for them in marketing their private practice and their overall entrepreneurial journey, so you can grow a thriving private practice yourself!
To subscribe to the podcast, please use the links below:
If you have a chance, we would really appreciate you writing us an honest rating and review on iTunes by clicking here It will help the show and its ranking in iTunes immensely!
If you have any questions you'd like answered on the podcast, please click here to email us and we'll answer it on one of our future shows!
We hope you enjoy the show!
One of the great marketing tips we’ve discussed on The Therapist Experience is to network with your hairdresser. The reason for this is that hairstylists often listen and give advice while they are working “behind the chair” and may be able to provide referrals. On today’s episode, this advice comes full circle as we follow Tami Vienn Allen’s entrepreneurial journey from hairstylist to private practice owner.
After a few years of working for agencies, Rachel Gracia decided to open a private practice when she moved back to the Fort Worth, Texas area. When growing her private practice beyond the first couple of clients proved challenging, she sought out advice. Rachel went on to work with a business coach that taught her how to market, network, and present herself as a therapist. Furthermore, the guidance she received helped her evolve from a general clinician to a specialist by finding her niche.
When Keisha Langolf and Meghan Farr first met working for a group practice, they could not have guessed they would soon have a practice of their very own together. After opening SHE Counseling & Coaching in 2016, Keisha and Meghan quickly found success. However, when the day-to-day management of the business coupled with the requirements of a client base primarily using insurance became overwhelming, they knew it was time for a change. Listen to the episode to find out how Meghan and Keisha have pivoted over time to create the practice of their dreams.
Whitney Owens has accomplished a lot in the past 2 years, growing her business from a solo practice all the way up to a group practice of 5 clinicians. While she’s received helpful advice from mentors like Joe Sanok of Practice of the Practice, one of the most valuable things she has learned came as a surprise from her own experience. Many group practice owners opt to hire clinicians as 1099 employees, assuming that it is cheaper and offers greater flexibility. Whitney has discovered that not only is this not true, but there are also many overlooked and important benefits that go along with hiring clinicians as full time W2 employees.
Damien Adler has seen his career grow and change in ways he could have never expected. Originally starting in community mental health, Damien began to tire of the bureaucratic red tape and jumped into private practice with his wife. They quickly discovered the huge amount of work that goes into running a private practice and began looking for a solution to streamline the appointment setting, note-taking, and billing. Upon finding out no good options existed, Damien enlisted the help of his brother to build their own practice management solution. To this day, Damien and his brother remain co-founders of Power Diary, a practice management solution based in Australia.
Cathryn Leff is an experienced clinician who had for years operated a small part-time private practice while working for a non-profit full time. While the work was fulfilling, she began to tire of her 3-hour commute each day. Finding inspiration to jump into Private Practice full-time, she opened a home office and quickly began attracting clients by visiting Family Attorney offices and networking in-person. With a successful business that continues to grow and hours saved by not commuting each day, Cathryn has even been able to take on the responsibility of President-Elect for the California Association of Marriage and Family Therapists (CAMFT)!
Money can feel like a taboo topic when it comes to running your private practice – but it doesn’t have to be.
While your mission is to help people overcome their problems and find solutions, at the end of the day your therapy practice is a business, and businesses need to be profitable if they are going survive and eventually thrive.
In today’s episode, we speak with Rhonda Stalb, who found tremendous success by setting a goal for the income she wanted to generate and then assembling the pieces needed to achieve this goal.
While it may not feel like it at times, growing a successful practice is never an accident.
With a diverse background serving individuals affected by a wide variety of issues, Maryellen Dance had found out over time who her ideal client was. However, she would often get referral requests from parents looking for someone who could help with their child’s anxiety.
This wasn’t her area of expertise, but what if it could be something her practice offered?
By scaling up and hiring 4 additional clinicians, Maryellen has been able to meet the needs of any client who walks through the door while simultaneously growing a thriving group practice.
Tune into today’s episode to learn more.
When you’re building a private practice, it’s important to first consider the personal and professional lifestyles you want to achieve.
For Charette Dersch, this meant crafting a small private practice that gave her the flexibility to set her own hours, while simultaneously allowing for expansion if need be.
Tune into today’s episode to find out exactly how she does it.