The Business of Therapy

Once licensed in 2020 and still working a typical 9-5 agency job, I decided to start a small private practice to engage with trauma-specific clients and utilize EMDR. This started as a sublet a couple of days per week, and the income was “fun money.” I had no idea what I was doing and consulted with as many therapist friends as possible to gain knowledge. I was also told “no” by many people when I asked them about their business practices. I learned that many people do not understand or do not follow state, federal, and BBS laws and rules, and explored the legal and ethical ramifications on my own. Starting was a lot of trial and error!

While still working a 9-to-5 agency job, I decided to (prematurely, but didn’t know that at the time) expand and hire some associates. I definitely did not have the structure, systems, and time in place for this. Despite this, it was successful; they gained experience and their licensing hours, and I also learned a lot. This included documentation for others, payroll, more state, federal, and BBS laws and rules to know and follow, and both clinical and administrative supervising. After this first round of associates were licensed, I took a break and stepped back to being a sole proprietor and my only employee.

I recognized that I did not have the time, marketing knowledge, business experience, or tax understanding to maintain a growing private practice. I sought help and guidance through business trainings, marketing support, and a lot of googling.

I have tried insurance paneling, Headway, direct and indirect insurance acceptance, as well as traditional private pay. These all have their pros and cons, and I am happy to provide suggestions and advice regarding these options in private practice. I have changed payment methods several times and learned along the way.

There are no mistakes- just learning opportunities.

With the support of accountants, tax people, and business consulting, I recognized that I could grow and maintain a profitable private practice. I left agency work, which was a huge leap, and went full-time private practice (and teaching and research). I understood taxes and bookkeeping more, so I became a corporation. I learned the systems I needed- payroll, EHR, workers’ comp, various insurances (liability, malpractice, renters, etc.), and marketing. I decided to hire associates again, taking on a third and admin support this year. I continue to grow and learn, and I want you and your private practice to be successful because we are not each other’s competition; we are in the business together!

I didn’t complete my Master’s and Ph.D. to run a business, and I bet you didn’t either! I started the business of therapy quarterly meet-ups as a method to connect therapists and demystify the administrative and business side of therapy. I now offer consultation for private practice over coffee, wine, or online. As intimidating as it may feel, once you have a process and systems in place, private practice really becomes self-sustaining and an open door for your desired clients. I want to help you move away from agency work or from taking insurance. I want to help you make over 100k per year or over 10k per month, because that is realistic and attainable. I want you to succeed in your practice and find the clients and support you need and want.

When you’re ready to start, grow, or change, I’m here for you.