5 Steps

5 Steps To Transforming Your Practice Into A Thriving Business

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Guest post by Edita Atteck

I believe I know who you are. You are here to be of service to others and you want to create a thriving business. You want to get client referrals, retain existing clients, and you don’t want to live from paycheck to paycheck.  You want to have a good reputation and earn client's trust.

I know first hand how starting a business is a challenge. I’ve been there and I fully respect your feelings. I left my corporate career to pursue my passion and committed to turning it into a business helping one person at a time. And I am here today to share with you six steps I believe can help guide you to building a practice that will help you and your business to thrive.

1) Crystal clear profit clarity

Just like any creation, your business starts with a foundation. Be very clear on how your business makes money. Who is your ideal client and how do you stand out from your competition? Review your current revenue model and identify gaps. What is the minimum income you need to make and what is your ideal annual income? Use these numbers to work backwards to figure out the number of hours, clients, sessions you need to have to arrive at the income you want to make. Address gaps creatively.

2) Create a website that attracts clients

Do you have a website that conveys a clear message and exceptional content to your target audience? Have you Googled your name lately? If so, what search results did you get?  Think of the words or phrases your ideal client would use in a Google search? Can s/he find you? Be visible in the digital world and that includes social media.  Just think of the hundreds of potential clients hanging out on Facebook or Twitter.  Allow your website to be a dynamic platform where clients can tap into an expanding knowledge base and valuable resources. Leveraging your online presence is essential to your success.

3) Communication and client list building

How do you communicate and build client lists? Having effective open channels of communication with your existing and prospective clients is a key to creating trusting relationships. You want to be the “go to” person when people are trying to solve their problems. Create a blog where you post valuable tips weekly or a newsletter that offers relevant content. Stay in touch with your client base. Even if some people may never book an appointment with you, they may recommend you to their family and friends because they hear from you regularly.

4) Create excellent products, services, and marketing

Brainstorm on the possibility of creating unique service offerings or value packages. It’s your job to prove to your clients that you are the solution to their problems and not the other way around.  And don’t be afraid of marketing.  I used to think that certain industries should not use marketing otherwise they may be perceived as "sleazy".  I was wrong!  Create marketing that is completely honest, ethical, and truthful and your clients will love you for that.

5) Infuse your personality into your brand

Do you incorporate your personality into your practice brand? If not, I suggest you get creative and infuse your unique personality into your brand. While many therapists can offer good therapy, nobody can replicate YOU. Step outside of the box and allow creative thinking to develop an image that is uniquely yours, draws on your strengths, and attracts the clients that you want to work with. And while you may want to be tempted to look for inspiration inside your industry, I challenge you to step outside. The biggest breakthroughs come from getting insights from professionals in other industries.

If you want to learn more about these steps, I highly recommend you enroll in Marie Forleo’s b-school program. I am a proud graduate and an affiliate.

Edita biopic

Edita Atteck entered the world of healing, empowering, and motivating people as a result of her passion to make a difference.  Edita’s mission is to inspire her clients to overcome stress, deepen their intuition, achieve a quieter mind, heal their lives, and fall in love with their lives. The result of her passion led to founding Journey to Healing, a company dedicated to helping people live more healing, empowered, and joyful life. You can connect with Edita through her website, editaatteck.com, Facebook, or Twitter.

 

Plant photo (c) Canstock.com

2013 Therapist Blog Challenge

Build your practice and attract more clients to your practice by creating regular content on your private practice website. I'll make it easy for you!

Welcome 2013! I tell my private practice consulting clients is to have an integrated blog on their private practice website and become a regular online content creator. Potential clients are searching online for your services and I want them to be able to find you more easily. Here's how blogging can help.

Why is blogging on your private practice website important?

  • Fresh website content boosts search engine rankings/SEO (remember Google is my #1 referral source)
  • It add value to your website visitors and give them a reason to come back to your site
  • It gives you valuable content to share on social media that direct people back to your website
  • It helps you to strengthen your online presence as an expert
  • It allows potential clients get to know you and your practice philosophy

Why are some therapists hesitant to start blogging?

  • They don't know what to write about
  • They think they have to write totally original content
  • They think they have to write a "dissertation" (blogs posts only need to be 300-600 words)
  • They haven't found their "blogging voice"
  • They don't have the "time"
  • They're scared

To participate in the 2013 Therapist Blog Challenge:

  • Post your practice website link in the comments below.
  • Watch for my suggested blog topic twice each month. I'll come up with the content idea so you don't have to. I'll title and number the posts "Blog challenge #1" ... so you can keep track.
  • Write your 300-600 work blog article that week for your private practice website.
  • Post your blog article link in the comment section on the corresponding post here on this Toolbox blog.
  • Read and share other therapists articles.

Pretty easy, huh? So, are you IN? By the end of the year you'll have at least 24 articles on your website!

Blog challenge #1 coming soon....

Remember to post your practice website below and any questions you have. And please invite colleagues to join in. This will be fun!

 

(c) Can Stock Photo

5 Steps To Resigning From Insurance Panels

One of the most common questions that private practice therapists ask me is "How do I get off of insurance panels?" This question just came up today in my Private Practice Toolbox Facebook Group so I thought it would be a great topic for a blog post. In previous posts I've written about why I broke up with managed care (part 1) & (part 2), but this post will focus on how to do it.

The thought of letting go of the comfort of being on insurance panels can create a lot of anxiety for private practice therapists. After all, if we don't have clients, we don't get paid. Find comfort in knowing this equation. You only need about half the number of clients in a self-pay practice to make the same income (or more) than you made in an insurance based practice. Once I realized this fact, I felt a lot more comfortable resigning from insurance panels. Let's do the math...

Insurance:

Say you are seeing 20 managed care clients per week and you are reimbursed an average of $70 per client.

20 clients x $70 session = $1,400

20 clients x $70 session x 4 weeks = $5,600 per month

(then subtract your time or money spent in billing and paperwork)

Fee-for-service:

2o clients x $125 = $2500/wk

20 clients x $125 session x 4 weeks = $10,000 per month

10 clients x $125 session x 4 weeks = $5,000 per month

(with NO extra paperwork, NO delay in payment, NO denied claims, NO required diagnosis...)

So often we focus on number of clients instead of the quality of clients and the amount collected per client.

5 Steps To Resigning From Health Insurance Panels

1) Rank the insurance companies

Make a list of insurance panels and rank them from your most favorite to least favorite based on:

  • reimbursement rates
  • paper work requirements
  • how quickly you're paid
  • number of clients you see from each panel
  • the type of clients generally referred
  • your general feeling working with each panel

2) Resign in waves starting with your least favorite

Generally, I recommend to my consulting clients to resign in waves over the course of a year. Resign first from the panels with the lowest ranking - the ones that pay the least and are the most difficult to work with.

3) Check your contract for resignation requirements

Review your contract to check on the resignation process that you agreed to. Look at the time frame required. Do you need to give them 30, 60, or 90 days notice? Do you need to send in a written letter?

4) Beef up your web presence

As part of your plan to resign from insurance panels, it critical to invest in creating other referral sources. The most important being your web presence. Google is my #1 referral source. The majority of our clients who come to my clinic Wasatch Family Therapy find us online. The benefit of clients finding you online is that they've already read about you, your services, and your philosophy on your website and have chosen to contact you. This increases the likelihood that they will be willing to pay your full fee.

  • Website - If you don't have a website, make that a top priority. If you have a website, make sure it's effective. Here are some common website mistakes and how to fix them.
  • Blog - If you don't have a blog on your site, add one and start blogging weekly.
  • Therapist finder sites - join PsychologyToday.com, GoodTherapy.org, and your professional organization's "find a therapist" site to help potential clients find you.

5) Know the benefits of self-pay and be prepared to educate clients

There are benefits to the client for paying out of pocket, instead of going through their insurance company, that they may not be aware of. As you make the transition away from managed care to a fee-for-service practice it's important to familiarize yourself with these benefits so you can educate your clients. A few of those benefits are: control over which provider you choose to work with, the course of treatment decided on by client and therapist instead of insurance company, and no diagnosis requirement.

Here's an example of how a provider educates her patients on the benefits of self-pay. Utah Psychiatrist Kelli Hyland, MD my colleague and consultation client, shares her philosophy in this blog post "Why Self-pay?"

(c) Can Stock Photo