Today’s topic is one that puzzles many clinicians and leaves us feeling uncomfortable. We’ve approached setting fees on past episodes, but today we are diving deeper into setting fees that ensure our profitability. How do we make sure our business is growing, thriving, and allowing for future expansion? Join us as we learn more with today’s guest.
Reina Lombardi, ATR-BC, ATCS, LMHC-QS is an art therapist based in Florida. She has a wealth of experience and knowledge about debt, building a business, and setting fees. Reina understands the many challenges in owning a private practice, and she knows that we need to be profitable. I hope our conversation gives you a practical perspective on using objective data, and not emotions, to figure out where your numbers should be.
What We’ll Learn
- The fears and difficulties that are common to clinicians regarding setting fees
- Tips to consider in setting fees to ensure profitability:
- Be clear in understanding your expenses, your debt, and the kind of life you want to live
- Budget and account for time off to nurture and reward yourself with vacations
- Talk to someone who has already started a private practice in your area and get a clear picture of your expected expenses
- Create an itemized list of your services and products offered
- When calculating your bottom line number, calculate the percentage of profit you desire for growth, savings, and expansion
- How consolidating credit card debt can help you in many ways
- How to budget extra speaking engagements and other endeavours that aren’t regular occurrences
- Reina’s fee calculator: How it can help you and how you can get it!
Today’s show sponsor: Therapy Notes
Reina’s practice website: Florida Art Therapy Services
Reina’s website for clinicians: Creative Clinician’s Corner
Thank You for Listening
I know that our lives are busy, and I’m grateful that you took the time to listen to this week’s podcast. If you enjoyed today’s episode, please share it with our colleagues and friends using the social media buttons on this page. Please consider leaving an honest rating and review for the podcast on iTunes as this helps the podcast reach more of our colleagues who want to build successful practices. Finally, feel free to join over 4,000 of our colleagues who are signed up for the Selling the Couch newsletter. You’ll learn valuable tips to build and grow your practice and get the podcast episodes delivered right to your inbox. You’ll also get FREE access to The Tax Write-Off Check List for Mental Health Private Practitioners.
Today’s Awesome Sponsor – Therapy Notes
When it comes to keeping your practice organized, you want software that’s not only simple but the best. I recommend TherapyNotes. Their platform lets you manage notes, claims, scheduling, and more. Plus, they offer amazing, unlimited phone and email support, so when you have a question, they are there to help. To get two free months of TherapyNOtes today, just use the promo code “Melvin” when you sign up for a free trial at Therapy Notes