Managing Your Practice

Once you’ve estabished your practice, you must learn the fine art of managing your practice.  Whether you are a solo practitioner, or heading up a group practice, wearing the many hats required of a therapist in the modern private psychotherapy practice isn’t easy.

Here are just some of the areas you will need to master (don’t worry – I’ll talk about these more individually in my blog):

Administration

  • Insurance Filing
  • Patient Billing/Collections
  • Correspondence
  • Patient charts
  • Bookkeeping

 

Patient (Customer) Services

  • Scheduling/Appointments
  • Intake coordination

 

Finance

  • Oversight of profit/loss
  • Forecasting of your practice’s financial condition
  • Decision making about obtaining credit for your practice
  • Strategic timing of purchases and acquistions based upon cashflow, tax implications etc.
  • Taxes

 

Marketing

  • Web
  • Social Media
  • Print
  • Community

 

Human Resources

  • Hiring
  • Firing
  • Dispute Resolution
  • Payroll/Payroll taxes
  • Benefits administration

 

Risk Management

  • Insurance (Beyond malpractice)
  • Case review
  • Property maintenance

 

No one of these individual topic areas is particularly overwhelming, but when combined with the fact that most therapists are actively seeing patients while running their practices, juggling several of these at a time can leave you feeling as if you are in over your head.  Don’t despair, there are many ways to streamline your practice and cut down on the headaches you experience from running your operation.  Keep reading and trying new things until you arrive at solutions that fit your particular needs for managing your practice. And be sure to check my blog regularly for suggestions about managing your practice.