The Business of Practice: Money and Marketing for the Modern Practice

1:30: Closing remarks

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Money Maturity: Take control of your financial policies, beliefs, strategies and pricing— to earn what you are worth

Does your practice make a consistent profit every year? How often do you feel obligated to discount or slide your fee? Are you carrying unpaid balances from clients? Do you wish you could reduce your reliance on insurance or increase full-fee clients? Do feel financially insecure? Is this where you thought you would be, money-wise, at this point in your career?

Questions like these are necessary ones for therapists, especially since as a profession, therapists tend to under-earn in comparison to other master-and doctorate level professionals. Some of this is based on external agreements we make with insurance companies. But some of the reason for our under-earning is a broader discomfort with money and a lack of skill in knowing how to plan, think and talk about income and profit in order to meet our professional goals. Our financial behavior is also affected by our feelings, presumption, and personal history with money. In this 2.5-hour workshop, participants take a direct and unvarnished look at the role of money and the business of therapy via lecture, discussion, specific examples and sharing questions and concerns. We will highlight the concepts, strategies, skills and beliefs that can assist therapists to become more planful and profitable over time. Attendees will learn how to: 

• Increase their insight regarding their own personal money history and how this may be recurring in their professional decisions
• Reconcile the oppositional concerns of service and profit
• Understand and adopt the best criteria for setting and raising fees
• Reduce reliance on insurance or take the steps to transition to private pay
• Consider additional streams of income
• Understand the basis of negotiation

Digital Marketing

Although John Wanamaker lived over 100 years ago, many therapists today can relate to his complaint, “Half the money I spend on advertising is wasted; the trouble is I don’t know which half."

Many psychologists invest their time and money into marketing their practice online, but do not know which of their efforts are paying off and which are just wasting resources. Private practice clinicians may get stuck in a cycle where they follow the latest online marketing trend over and over, never sure if it is right for their practice.

In this 60-minute marketing webinar, Dr. Daniel Wendler, founder of MarketingForTherapists.org, will discuss how therapists can break that cycle and focus their marketing efforts where they will do the most good. Specifically, clinicians will learn how a “portfolio approach" to online marketing holds the ticket to success. Clinicians will also learn how to craft a marketing strategy that fits their unique strengths, how to evaluate prospective marketing opportunities, and how to set themselves up for sustained long-term improvement in their marketing results.

Participants will:

• Understand how to utilize a "portfolio approach" to choose marketing opportunities for their practice.
• Identify high-potential opportunities to market their practice
• Evaluate their marketing efforts and improve their marketing over time through data-driven assessment and access to best practices

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