Celebrating 10 Years Of Private Practice Success

From solo practitioner to thriving clinic owner. Celebrating the milestones of 10 years of private practice.

Today marks the 10 years since of the founding of my private practice Wasatch Family Therapy, LLC. I started out as a solo practitioner with big dreams of creating an exceptional therapy clinic that not only provides excellent clinical services, but also provides therapists the opportunity to create their "dream practice" in a nurturing work environment that supports personal growth and strong family relationships.

As I take a step back and reflect on this ten year journey, many tender emotions surface. I am grateful for willing clients who have allowed me to walk with them during life crises and transitions. I am touched by the generosity of the professional relationships that I've cultivated during this period of time. I am amazed at the personal and professional growth that I've experienced. I've learned invaluable lessons about leadership, boundaries, and business. I've developed skills in marketing, supervising, web design, social media, mentoring, public relations, human resources, interior decorating, negotiating contracts, consulting...

This Wednesday we're putting on our party hats and hosting a celebration: a professional networking luncheon in our new office suite for all of our current and former staff, colleagues, referral sources, families, and friends. As a thank you to our colleagues and friends we'll be tweeting and posting photos and links to great websites and resources as a thank you to our attendees. Feel free to follow the fun here on our Twitter and Facebook page.

10 Year Milestones For Wasatch Family Therapy

• 10,000 families served
• 4000 + social media updates
• 300 local and national media interviews
• Grown from 1 to 14 therapists
• 13 interns trained or supervised
• 1 to 2 clinic locations
• 9 babies born to our staff members
• 5 office spaces outgrown
• 0 to 2 office and support staff
• Transitioned from managed care to a private pay practice

Whether you've been in private practice for years or months, I encourage you to take a step back this week and reflect on your journey. What milestones have you achieved so far? What are you grateful for? How have you grown personally and professionally through your private practice journey? And where do you want to go next?

Throughout the month of October I'll be posting more about lessons learned during my 10 years in private practice, mistakes and missteps, brave decisions, and more in the hopes that you can learn from my successes and failures and build your dream practice.

What are the most lessons have you learned in your days/weeks/years in private practice?

normanack via Compfight

5 Signs It's Time To Raise Your Fees

It's common for therapists in private practice to have anxiety around money issues like how much to charge per session, how to ask clients for payment, and when to raise your fees. Getting comfortable talking about fees with clients is crucial to private practice success. After all, you own a business. In general, I think therapists charge too little for their services.

Several years ago, I resigned from managed care and I raised my psychotherapy fees at the same time. Fortunately, my practice didn't suffer financially from those decisions. What surprised me most about raising my per session fee was that the perceived value of my services went up. "You don't take insurance and charge a lot? You must be really good," was a sentiment that I heard frequently from potential clients.

Interestingly, I've found that clients tend to invest more in the therapy process because they are investing more money out of their own pocket for treatment.

If you're considering raising your fees, consider these 5 signs that the time has come to raise your fees.

1) You haven't raised your psychotherapy rate in over 5 years

If it's been over five years since you've raised your therapy fees, it's time to revisit the issue. Your cost of living goes up approximately 2% every year due to inflation. If you haven't raised your fees you are likely making less than you made five years ago.

2) Your full fee is equal to insurance reimbursement

If you set your fees based on what insurance companies are willing to reimburse, then your fees are too low. Historically, insurance companies reimburse at a much lower rate than the providers full fee.

3) You aren't making enough money to pay your bills

Your private practice needs to serve your clients and provide a sufficient income for you. If you are not making ends meet in your practice or your personal life you may need to reduces expenses and increase your rates.

4) You have a waiting list

A waiting list is a sign that your services are in demand and that clients will pay more for your services.

5) You've completed specialized training or certification

Your added expertise deserves additional compensation. If you have recently completed advanced training, like certification in DBT or Emotionally Focused Couples therapy, for example, you may want to charge more.

When is the last time you raised your rates? How do you decide when to increase your fees?

photo credit: Corey Holms

What Do You Love About Private Practice?

Ask me about my private practice and I light up. I love it. I just spent the last day and a half furnishing and decorating an additional office location in a neighboring city. I'm excited to be able to expand the reach of my practice and help clients in other geographic locations. There is such a satisfaction in feeling fully self-expressed professionally and to make a difference in the lives of my clients and my colleagues. My passion for building a private practice is why I asked Dr. John Grohol, CEO of PsychCentral.com if I could start this blog. I can't imagine being happier with a work situation and I want to help you develop the tools to feel the same way about your practice. I asked several successful private practice therapists the question, "What do you love about being in private practice?" I wanted to share their answers with you to inspire those of you who are considering going into private practice to do it! If you're unhappy with your practice, I hope you'll draw from these successful private practice experiences to create a practice that you love.

It's not "work"

Lynn Krown MA, MFT:

When you do something you are passionate about it's not work. I intend to work well into old age. The more life experience and mindfulness I have, the more wisdom I have to offer. I'm grateful to feel so fulfilled and alive as a psychotherapist age 70 this month.

Accurately represents who I am

Julie Jeske, M.S.:

I love it because it is mine. It is an accurate representation of who I am and the work I do. I truly love what I do and having a private practice gives me the freedom to really design and build my ideal practice. I can work when I want...in fact this summer I spent 5 weeks in Paris. I don't know if I could have done that if I didn't have my own practice.

I look forward to work

Gabby Acord, LCSW:

I look forward to my work and the days fly by. I don't get insurance benefits or paid time off, but I also earn 50% more than I would working full-time for the local University hospital and they pay very well. I feel good that my children know that my work is to help people and they don't resent the time away.

I'm my own boss

Amy Luster, M.A., LMFT:

I am passionate about maintaining a private practice as it grants me the ability to participate in the way that best suits me. I am an active parent to four elementary school aged children and I am able to schedule clients in a way that permits me to be present for my children. As they grow older and more independent, I am able to increase the amount of hours I can see clients in my private practice. I am not beholden to a specific way of working with each client, but rather, I'm able to respond to the needs of each individual, couple or family.

Allows me to refine my specialty

Geoff Steurer, MS, LMFT:

Private practice allows me to refine my specialty in working with marriages impacted by sexual betrayal. When I was working in an agency setting, I was required to see whatever cases walked through the door. So, in any given day I could end up working with children, teens, couples, elderly, and families. Even though I certainly enjoy the variety that comes from working in an agency setting, there is something deeply gratifying knowing that I'm developing a skill set that comes from working with the same types of cases day after day. I love knowing for certain that I can make a difference in the lives of the clients sitting across from me in my office.

I set the rules

Esther Kane, MSW:

I set the rules and love it! I’m independent and it suits my personality. I love the flexibility- going away whenever I choose and working hours I prefer. I get a highly-motivated client-base who are ready and willing to do the work. I own my own office overlooking the ocean and it’s like my second home.

It adapts to my changing lifestyle

Shannon Purtell MA, LPC:

In the last 3 years I have gotten married, and had 2 children. Private practice has allowed me to adapt to my changing lifestyle. It worked great when I was single and could work evenings/weekends, etc. and it works great now when I need to be home evenings and weekends to be with my family. Private practice affords me the opportunity to build a company that makes a difference in the lives of our clients, and provide a healthy work environment for my associates and interns.

It's a thrill to see people change

Eileen Kennedy-Moore, PhD:

There is no greater thrill than seeing people make real change for the better in their lives and being part of that change process. I'm grateful for the opportunity to do work I love, as my own boss, with hours that mesh with my family needs.

Meaningful connection with others

Loren A Olson MD, who is in the process of retiring from his psychiatry practice:

I have experienced the joy of connecting with people in the most emotionally intimate ways. I *know *them deeply and meaningfully. And although I've always maintained professional boundaries, I find that they know me, too. And so I grieve the loss of these relationships even while knowing that I am responsible for my own happiness. And as I retire I will find new ways to find pleasure in my life, but I also look back with a sense of satisfaction about having chosen such a meaningful profession.

Do you love being in private practice? Tell me about it! If you're not happy with your practice, what would you like to change?

If you have any topics you'd like me to write about, or specific questions for me comment below, ask me on Twitter @Julie_Hanks, or contact me directly here.