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Welcome! Today’s episode is Part 1 of a conversation with Tiffany McLain, MFT. This episode came out of a blog post by Tiffany entitled, “The Top Ten Myths Therapists Believe about Setting Fees.” This topic was covered in Episode 51 in my interview with Jane Carter, so please go back and listen if you need some help with “money shame.” Join me—let’s jump into this topic with Tiffany!
Today’s conversation covers the first five of Tiffany’s “Top Ten Myths”:
- It’s important to assess the market before setting my fees.
Tiffany surveyed over 200 therapists to gather information, and found that none of them really “assessed” the market. Most of us just look around for validation to do what we already believe!
- I have to wait until I’m experienced enough to charge my full fee.
We don’t think we have the experience to justify what we want to charge. Most people who seek therapy are looking for TRUST, and not years of experience in a therapist.
I have to be on insurance panels when I first start out.
It’s ok to do this if you’re anxious about setting fees. Remember that it’s a choice, and you don’t HAVE to do it.
- It’s my ethical obligation to offer a sliding scale as a way of giving back.
A sliding scale is NOT the only way to give back; there are many other options that Tiffany discusses. Most therapists think they are obligated to do sliding scales in order to keep clients.
- I can’t charge more than my consultant, supervisor, therapist, etc.
Reflect on and deconstruct your own belief system. Tiffany offers great advice on this topic from her personal experience.
A few takeaways from Tiffany:
*Know what you need to make to meet your goals to thrive and not just survive.
*Do self-analysis into practical methods of budgeting and income strategies.
*Don’t compare yourself as a practitioner with others.
*Helping people and making money can go hand-in-hand; they don’t have to be “an either or” proposition.
Resources:
Email Tiffany: tiffany@heytiffany.com
Today's episode is sponsored by Brighter Vision. They create beautiful websites for Private Practitioners each and every day. To find out how they can help you simply visit www.brightervision.com/try/melvin. Don't forget to use the code “COUCH” to get your first month free!