Are you a group practice owner who wants to free up more time from working at your practice? It may not seem possible right now. How can you begin to set up sustainable systems and structures that work in your favor? What are some myths behind setting up and running a group practice?
In this 2 part podcast episode, Alison Pidgeon speaks about how to grow your group practice while reducing your work hours.
In This Podcast
- Why would you want to scale up your practice?
- Debunking myths of what is not good about a bigger practice
- Handling the possible stress levels
- Benefits of W2’s
- How to fill up clinicians before you hire them
- Delegation and systems
Why would you want to grow your group practice?
- You can begin to provide jobs where people feel like they are treated well and paid well and can enjoy a beneficial work environment.
- By growing your practice, you are increasing the wealth of mental health services within your community and can therefore expand the available services to your surroundings.
- Making more money: with a big group practice that you have scaled up, you have a team working, and therefore once your practice becomes more independent – you can then enjoy the semi-passive income and financial security because your practice still runs while you need to focus on other things.
- More influence: by growing to a certain size, the community sees you with more standing and as more professional. The more your reputation grows, the more customers and the more clinicians you have that want to come with you.
- Reduced work hours: it may seem counterintuitive, but with more clinicians, you can afford to hire people to help you manage your clinicians and the admin-side.
Debunking myths of what is not good about a bigger practice
“I need to work more hours”
You can likely reduce your clinical hours because you can draw your salary on some of their incoming money from their clients. And, you can cut back on your hours if you want to.
“I don’t have the money to expand”
Chicken or the egg problem: If it is something you really want to do, you will figure out a way to get the money together.
“It would be too much for me to handle”
If you are delegating well and relying on your staff and trusting them to do work behind the scenes, you can let go of those tasks. You are still involved. However, you trust them to mostly complete everything that needs to get done.
Handling the possible stress levels
Being picky about who you hire and trust them to get the job done. When you have a good staff and a solid team, it can help you be calm about it all.
Benefits of W2’s
Offering benefits, such as health insurance, to clinicians to make your practice appealing to new staff. This can enable you to expand faster because having a W2 job is more secure for clinicians.
How to fill up clinicians before you hire them
After the 2-year mark, Alison’s group practice had expanded enough that clients were requesting specific clinicians and it had grown in reputation enough so that there was a need.
Hiring someone and getting them credentialled before they started actually working. The marketing and credential work on them before they start taking clients so that when we start taking on clients people already know about them and want to work with them.
Delegation and systems to grow your group practice
Make a list of all the things you do in your practice as the owner, such as:
- Provide therapy to clients
- Provide training to clinicians
- Running errands like buying drinks and coffee and going to the bank
- Doing the accounting
- Customer service
- CEO-type duties
Think about all the things that you do. And, think of how many of these things you can outsource so that you have free time as the CEO to think and plan for the future.
- Brittany Schank on How to Grow Multiple Streams of Income and Be a Group Practice Owner | GP 36
- Move Forward Virtual Assistants
- Group Practice Boss
- Email Alison: firstname.lastname@example.org
- PoP Group Practice Owners Facebook Group
- Free resources to help you start, grow and scale
- Work with us
- Consult With Alison
Meet Alison Pidgeon
Alison is a serial entrepreneur with four businesses, one of which is a 15 clinician group practice. She’s also a mom to three boys, wife, coffee drinker, and loves to travel. She started her practice in 2015 and, four years later, has two locations. With a specialization in women’s issues, the practices have made a positive impact on the community by offering different types of specialties not being offered anywhere else in the area.
Alison has been working with Practice of the Practice since 2016. She has helped over 70 therapist entrepreneurs start and grow their businesses, through mastermind groups and individual consulting.
Thanks For Listening!
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