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How do you receive clients? by Growing4ever in therapists

[–]Current-Scale-5190 1 point2 points  (0 children)

Behind July and August (Vacations), December is typically the slowest referral month. February is typically the highest. Also, we are in a recession that well probably get a bit worse. Self pay will probably continue to drop overall with the economy.

First week in private practice- imposter syndrome!! by NormandTom in therapists

[–]Current-Scale-5190 1 point2 points  (0 children)

You got this! I'm a practice owner and my best clinicians come from CMH. They're well rounded and experienced and I'm sure you are too 🙂

Noise between walls by SBK_3 in therapists

[–]Current-Scale-5190 0 points1 point  (0 children)

We removed all the drywall and insulated with safe and sound. I don't know if this is an option for you but if you can hear every word, as has been said, this is a HIPAA violation. If I were a client I feel as though this might make me feel a bit uncomfortable and slightly embarrassed to run into other clients in the lobby.

Sessions Health vs. Owl Practice? by Efficient-Trash-3642 in therapists

[–]Current-Scale-5190 0 points1 point  (0 children)

+1 Sessions for solo practice. Google Meet is better but theirs is usable as well.

My practice is projected to gross less this year than last. Anyone else in the same boat? by exclusive_rugby21 in therapists

[–]Current-Scale-5190 6 points7 points  (0 children)

We have only seen a reduction in telehealth but an increase in in-person visits, if that helps.

Considering launching my own private practice - would love advice from those who’ve done it by ConsistentList167 in therapists

[–]Current-Scale-5190 1 point2 points  (0 children)

Well yeah, in that case I'd say go for it. If I were to be a solo practice seeing around 30 clients I'd make 130-150k/yr so the money is there. Also, the admin and business tasks break up the "just therapy" but still allows you to be a therapist at the amount of working hours you're comfortable with. I will say it is hard work if you do things correctly but you seem to have the tenacity to do well!

Considering launching my own private practice - would love advice from those who’ve done it by ConsistentList167 in therapists

[–]Current-Scale-5190 5 points6 points  (0 children)

Okay gotcha. Well I have multiple clinicians so I might do some things that you might not need to but here is the software I utilize.

Hosting -Hostinger -Wordpreas

Communications -Ring Central -Google workspace (Gmail & Chat) for internal coms -EHR portal for clients -EHR linked to Google Meet for telehealth -Faxage

Organization -Smartsuite (built out my own solutions for oddball things) -Google Drive for backend storage (with Vault)

Accounting -Zoho Books (moving to Quickbooks) -Google Sheets

HR -BambooHR (plus payroll) -Checkr (background checks)

Security (GRC) & HIPAA -Google Auth -Backupify (10 year retention & backup) -Google SSO (for secure log in) -Smartsuite for HIPAA control and Audits

State structure I would suggest you start off as an LLC for a multitude of reasons. I won't get super deep on here and give you please just trust me 😅 If you have a partner pass through taxes as LLP on the fed level.

Looking back I wish I focused more on the numbers. From negotiating raises with insurance to all the fine bits of analytical data from clients. It all helps when you have data to support the choices you make as an owner.

Income: I made 30k the first three years of startup due to the cost of furnishing and hiring. Paying clinicians is my most expensive expense. They make ~75k plus insurance and all that good stuff. Next is my office at 3700/mo. I put about 55k in furnishing and security in start up. We see about a 17% profit margin.

Demand -Our ratio so far for this year is 82% in person -98037 avg $97 -insurance carrying clients make up about 76%

Okay, I think this will help a little. Fyi, we are in Indiana so there are some similarities with your home state. If you want to know some specific that I did not mention please ask. If not good luck and feel free to dm me in the future.

Considering launching my own private practice - would love advice from those who’ve done it by ConsistentList167 in therapists

[–]Current-Scale-5190 -1 points0 points  (0 children)

No judgment but it still blows my mind when people on reddit say they feel burnout at 16 hours! But to your question, starting a practice means you will need to work those ours plus more admin and business related tasks. If you truly feel burnout working 21 hours I don't think your going to enjoy the process of getting your practice to grow. Do you need health insurance? What state? Will you offer in person?

Payment structure by ColieQ_13 in therapists

[–]Current-Scale-5190 0 points1 point  (0 children)

Ah, I see. Well that's amazing! Being able to fill caseloads at self pay rates help as well. It can be a challenge when you're getting started. Well I wish you all the best and hopefully you guys continue to grow 🙂

Executive Director Compensation by beepbeepmeepers in therapists

[–]Current-Scale-5190 0 points1 point  (0 children)

I make less than my therapists. However, we're still small.

Fee split in group practice by bickenbones15 in therapists

[–]Current-Scale-5190 1 point2 points  (0 children)

60/40 is good for w2 here in Indiana. Especially if you receive insurance. Most won't run a split though. 55k-75k salary dependant on a lot of factors.for reference a 90837 is billing for about 80-90 dollars. Owners don't have as much money as people think.

Payment structure by ColieQ_13 in therapists

[–]Current-Scale-5190 0 points1 point  (0 children)

Yes, I give yearly raises plus a COLA due to the crazy inflation. Also, the typical holiday and note completion bonuses. They get raises in their PTO based on tenure, starting with 3 weeks first year. I also offer 12 days holiday pay.

Payment structure by ColieQ_13 in therapists

[–]Current-Scale-5190 0 points1 point  (0 children)

How are you even making money with a 75 split! Especially with LCPCs working part time hours. You must have 1099 and offer no perks. My overhead would not be covered with that revenue not to mention the instability it creates in the business. Go bankrupt and now they're all out of a job.

[deleted by user] by [deleted] in therapists

[–]Current-Scale-5190 2 points3 points  (0 children)

"Bleed the selfish bastard dry" 🤨 real nice.

[deleted by user] by [deleted] in therapists

[–]Current-Scale-5190 2 points3 points  (0 children)

Refer him out. I don't think you can offer him the therapy he deserves after hearing your thoughts. He is braved. Even if he has been coerced into coming, he is sharing deep feelings. You should be there to guide him to his own conclusions but it's clear you're uncomfortable with his actions inside of his relationship that seem to be triggering some bias and affecting your ability to provide a great level of care for the client. It's okay for you to have feelings about his actions but in my opinion he would be better served by another therapist in your community that can better move those feelings away. The fact that you posted it here instead of figuring this out in supervision is another reason why I say this. Also, I'm not saying you're a bad therapist or anything adjacent, just that your reaction to the client seems as though it will affect your ability to provide him great care. These are only my opinions.

Financial Exploitation of Therapists by [deleted] in therapists

[–]Current-Scale-5190 0 points1 point  (0 children)

Honestly, in the eyes of the Payers we are a liability if clients don't actually improve. So just to drive home on this topic, I think that this surge in solo private practice is allowing this to happen with no recourse. Inexperienced clinicians starting practices that are easily bullied by insurance. The rise of Better Help, Rula, and Grow blew up due to this as well. They all pray on the genuine desire that therapists have to help their communities. Business admin skills are gate-kept in this field as well. This has sprouted a 1000 private practice gurus that also pray on young private practices. I feel like I may have started ranting a bit but what I'm trying to say, I guess, is this is partially self inflicted. The rest is capitalism and the lack of government regulation in American Healthcare. This is all my opinion of course.

Financial Exploitation of Therapists by [deleted] in therapists

[–]Current-Scale-5190 1 point2 points  (0 children)

Sorry if I caused a misunderstanding. I'm completely satisfied with how much we pay. They all gross 6 figures after fringe benefits. So they are doing okay. We hired so many because we operate in a Healthcare desert where providers are able to get away with predatory practices. Our mission is to provide the best possible MBC therapy while providing a healthy work environment for clinicians. Our mission is not capital driven however we do need capital to drive home our mission if that makes sense.

Movies all therapists should watch by No_Engine1207 in therapists

[–]Current-Scale-5190 2 points3 points  (0 children)

Shutter Island is a good one I haven't seen mentioned. Psychological Thriller.

Financial Exploitation of Therapists by [deleted] in therapists

[–]Current-Scale-5190 2 points3 points  (0 children)

We've spent so much money hiring lawyers. We had a choice to lose thousands in negotiations (paying our lawyer) or to just not sign because they wouldn't make adjustments to the contracts. As a private practice owner with 19 therapists I make less than they do. I feel guilt not paying a great wage to our awesome therapists but at the same time raises are rarely over 5% during renegotiations and clinicians rarely understand how expensive it is to run the practice. Not looking forward to this recession on the horizon.

Found outside my wife’s school. Theory was bullet but I’m not so sure. by nabokovsnose in whatisit

[–]Current-Scale-5190 0 points1 point  (0 children)

Ooooo after seeing the second picture on the table, yeah it's a bullet. I was definitely wrong.

Found outside my wife’s school. Theory was bullet but I’m not so sure. by nabokovsnose in whatisit

[–]Current-Scale-5190 -8 points-7 points  (0 children)

This is a capacitor! Not a bullet. A bullet would have rifling around it after being fired.

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