How Do You Know If Starting A Group Practice Is Right For You? | PoP 252

How do you know a group practice is right for you


In this episode, Alison Pidgeon speaks about how to know whether a group practice is right for you.

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In This Podcast

Summary

Alison Pidgeon kicks off her podcast takeover with episode one of five on how to determine whether a group practice is right for you. She covers the pros and cons associated with running a group practice as well as what she plans to cover in this series aimed at owning a group private practice.

Just Ask

Sometimes, we need to just ask for things in order for something to happen. Don’t be afraid to take risks or be afraid of rejection. I built up the courage to ask Joe if I could consult on behalf of Practice of the Practice and look where I am now!

What We Will Be Covering In This Series

  1. The pros and cons of running a group practice
  2. The nuts and bolts of how to set up a group practice
  3. The hiring process
  4. Marketing a group practice
  5. How I manage my employees / contractors

The Pros and Cons of Starting a Group Practice

Pros

  • You stand to make more money
    • You don’t have to worry about losing money if you are sick / on vacation
  • You can help more people in your community
  • You have greater freedom with your time, i.e.: building passive income
  • You can spend more time focusing on the business side of the practice
  • You can grow your influence as an expert

Cons

  • Growing a group practice takes up more of your time (especially in the start-up phase)
  • The buck stops with you
  • Starting a group practice is going to take some start-up money
  • More of your time is going to be spent managing your employees / contractors and the business side of things and less time spent doing therapy

Starting a business tends to bring up a lot of our own ‘stuff’. As you become aware of them, you need to address them.

Useful Links:

Meet Alison Pidgeon

unnamed-300x200Alison is a licensed professional counselor in the state of Pennsylvania. In 18 months she went from starting a solo private practice to building a insurance-based group practice. She now employs 3 clinicians and a virtual assistant. In her spare time she is often seen running after her two small children and her therapy is cooking.

Click here to consult with Alison.

 

 

 

Thanks For Listening!

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