Is your schedule too full and keeping you from working on your practice as a business owner? Are you not sure when is a good time to hire clinicians into your practice? How much money do you need to start a group practice?
In this podcast takeover episode, Whitney Owens addresses myths about starting a group practice.
When you’re in private practice it can be tough to find the time to review your marketing efforts and make improvements where needed.
Whether you are a seasoned clinician whose current website needs to be revamped, or a new therapist building a website for the first time, Brighter Vision is here to help.
By first understanding your practice and what makes it unique, Brighter Vision’s team of developers will create a custom website catered to your specific marketing goals. Better yet, they provide unlimited technical support to make sure it stays updated, and professional search engine optimization to make sure you rank high in online searches – all at no additional cost.
To get started for $100 off, head to brightervision.com/joe.
In This Podcast
- “I need a steady referral stream to start my group practice”
- “My caseload needs to be full before I can fill somebody else”
- “I need to have a lot of money to start a group practice”
- “You need to have it all together”
“I need a steady referral stream to start my group practice”
Yes you do need some referrals, that would be nice, but ultimately the more people you hire to your practice the more clients that will come. (Whitney)
The more clinicians you hire the more clients will come through the door, and that is because you are:
- Marketing more people with different skillsets,
- Advertising new specialties in your practice,
- Bringing people into the practice that know more people in the town.
With hiring clinicians, instead of being worried about not having enough referrals, the more clinicians you hire the more clients you will have to work with.
You can start a group practice without a steady stream of referrals coming in because as long as you have some already, you can grow that number with the more therapists you hire.
“My caseload needs to be full before I can fill somebody else”
This is not true. If your caseload is full, as the group practice owner, you will not have enough time to work on your business and to grow your practice, you need that time to put the energy and effort in.
Put aside two or three hours a week to be able to focus on and work on your group practice.
If your [caseload is full] you’re constantly managing crises and dealing with your clients. You can’t ever be a visionary for your practice and you’re the one that keeps your practice from growing. I encourage people when they’re 75% full and they think they want to start a group practice, that is the time to start. (Whitney)
Work with the 75% mentality:
- When your caseload is 75% full, hire a new clinician,
- When their caseload is 75% full, hire a third clinician,
- If the therapists who deal with specialties are 75% full, consider hiring another therapist that works with that same specialty.
“I need to have a lot of money to start a group practice”
You do not need a huge amount of money to start your group practice, however, having some savings will help you on the front end with regards to paying fees and so forth.
Consider hiring an attorney, even though it is an expensive investment because it will greatly help your business to get that expert advice early on:
- Employment law in your state,
- Hiring contractors or employees,
- To help you get your offer letters set up,
- Get contracts and paperwork ready.
You will also need some money to help you:
- Organize phone lines and emails,
- Add a payroll service,
- Pay an accountant,
- Work with a consultant.
In the beginning, you only really need to spend on average between $100 to $200 a month on marketing and paying for the services of your clinicians. However, they will quickly make that money back through seeing clients, so your expense to income will even out.
I spoke to an accountant that specializes in private practice and she said to me that at the end of the year she finds those who invest in consulting make 30% more at the end of the year than those that don’t invest in consulting. (Whitney Owens)
You do not need a lot of money, but it will help you to have a few thousand dollars saved to get you going in the process a little more quickly.
“You need to have it all together”
Many therapists suffer from impostor syndrome, and think that even if they have a practice, why would someone go to see them specifically?
You can do it because you have a valuable skill set that you can use to help someone make meaningful changes in their life. If you achieved your Masters, you can run the business.
Useful Links mentioned in this episode:
- Brighter Vision – All-in-One Websites for Therapists
- Group Practice Launch: 6-month focused program. Sign up on September 7th and 8th to receive the early bird special of a total cost of $1350 for 6-months of consulting. After September 9th the price is $1500.
Check out these additional resources:
- Ask Joe: How To Transition To Private Pay? | POP 599
- Starting a private practice? Get this free 28 step checklist
- Sign up for Next Level Practice
- Events – click on the event’s dropdown
- Sign up to join the free webinars and events here
- Podcast Launch School
- Practice of the Practice Podcast Network
- Free resources to help you start, grow, and scale
- Apply to work with us
Meet Whitney Owens
Whitney is a licensed professional counselor and owns a growing group practice in Savannah, Georgia. Along with a wealth of experience managing a practice, she also has an extensive history working in a variety of clinical and religious settings, allowing her to specialize in consulting for faith-based practices and those wanting to connect with religious organizations.
Knowing the pains and difficulties surrounding building a private practice, she started this podcast to help clinicians start, grow, and scale a faith-based practice. She has learned how to start and grow a successful practice that adheres to her own faith and values. And as a private practice consultant, she has helped many clinicians do the same.
Thanks For Listening!
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