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Financial Management for Your Mental Health Practice

Financial Management for Your Mental Health Practice
Author: Diane Libby Cpa
Publisher: TPI Press. the Practice Institute, LLC
Total Pages: 104
Release: 2015-12-19
Genre: Psychiatrists
ISBN: 9780990344537

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Perhaps no issue is more important to the sustained success of a mental health practice than understanding the financial aspects of running a business. Yet this topic receives such little attention in most professional training programs. Without full awareness of where revenues are coming from, and where they are allocated in the practice, how can small business owners know how they are doing financially? Could you be doing better? Where should you invest more resources? Where could you cut expenses? How can you review financial statements to plan for sustained growth in your practice? One need not be a CPA to develop and maintain a successful practice, but understanding basic accounting concepts is one of the necessary ingredients. In this book Dr. Zimmerman combines his years of experience running a large mental health practice and consulting to mental health practices, with Ms. Libby's years of experience working as a CPA for mental health practices, to develop a helpful and important primer that is essential reading for anyone wanting a financially successful practice.


Financial Therapy

Financial Therapy
Author: Bradley T. Klontz
Publisher: Springer
Total Pages: 381
Release: 2014-09-10
Genre: Psychology
ISBN: 3319082698

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Money-related stress dates as far back as concepts of money itself. Formerly it may have waxed and waned in tune with the economy, but today more individuals are experiencing financial mental anguish and self-destructive behavior regardless of bull or bear markets, recessions or boom periods. From a fringe area of psychology, financial therapy has emerged to meet increasingly salient concerns. Financial Therapy is the first full-length guide to the field, bridging theory, practical methods, and a growing cross-disciplinary evidence base to create a framework for improving this crucial aspect of clients' lives. Its contributors identify money-based disorders such as compulsive buying, financial hoarding, and workaholism, and analyze typical early experiences and the resulting mental constructs ("money scripts") that drive toxic relationships with money. Clearly relating financial stability to larger therapeutic goals, therapists from varied perspectives offer practical tools for assessment and intervention, advise on cultural and ethical considerations, and provide instructive case studies. A diverse palette of research-based and practice-based models meets monetary mental health issues with well-known treatment approaches, among them: Cognitive-behavioral and solution-focused therapies. Collaborative relationship models. Experiential approaches. Psychodynamic financial therapy. Feminist and humanistic approaches. Stages of change and motivational interviewing in financial therapy. A text that serves to introduce and define the field as well as plan for its future, Financial Therapy is an important investment for professionals in psychotherapy and counseling, family therapy, financial planning, and social policy.


Mastering the Financial Dimension of Your Psychotherapy Practice

Mastering the Financial Dimension of Your Psychotherapy Practice
Author: Peter H. Cole
Publisher: Routledge
Total Pages: 296
Release: 2017-06-27
Genre: Psychology
ISBN: 1317432835

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Written by two therapists with extensive business experience, Mastering the Financial Dimension of Your Psychotherapy Practice addresses the clinical and financial challenges of establishing and maintaining a successful private practice. This book contains updated content on investing strategies, changes in the insurance marketplace, and trends in the marketing of a psychotherapy practice. The first of five sections explores the life cycle of the modern therapy practice, offering best business and investing practices for each phase. In the second and third sections, the authors consider the emotional dimension in the development of a private practice. The fourth section offers a basic course in financial planning, including an investigation into five common financial mistakes therapists make and various solutions to each situation. The fifth section is designed to offer a road map of actions to take in establishing a financial plan. Concluding the book is an inspirational discussion of how the therapist in private practice can create a career with meaning, fulfillment, personal satisfaction, and solid financial rewards.


Money and Outpatient Psychiatry

Money and Outpatient Psychiatry
Author: Cecilia M. Mikalac
Publisher: W. W. Norton & Company
Total Pages: 418
Release: 2005
Genre: Psychology
ISBN: 9780393704402

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Billing, accounting, and business management practices are not covered in graduate school, yet all practitioners need to master these money issues at some point in their careers. In order to address this need, Cecilia Mikalac has translated her popular course on money management for psychiatrists into a practical yet comprehensive book on all aspects of money management.


Mastering the Financial Dimension of Your Practice

Mastering the Financial Dimension of Your Practice
Author: Peter Hays Cole
Publisher: Routledge
Total Pages: 312
Release: 2005-09-29
Genre: Psychology
ISBN: 1135999961

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Most therapists would not identify themselves as business people, yet running a successful practice is a complex business. For a population accustomed to empathizing with clients, financial planning is not intuitive. This volume, written by two therapists with extensive business experience, offers sound advice for mental health professionals in private practice. Mastering the Financial Dimension of Your Practice is organized into four sections, each addressing the unique concerns of the therapist in private practice. The authors first offer a basic course in financial planning, including an investigation into "Five Common Financial Mistakes Therapists Make" and various "solutions" to each situation. The second section explores the lifecycle of the modern therapy practice, offering best business and investing practices for each phase. The third section considers the emotional dimension involved in the development of a private practice and the financial planning of a private practitioner, written in the thoughtful language of psychotherapy. Providing a self-guided financial planning seminar, the fourth section is designed to offer a road map of action to take in establishing a financial plan. Concluding, the book is an inspirational discussion of how the therapist in private practice can create a career with meaning, fulfillment, personal satisfaction and solid financial rewards. Also included is a useful primer on Quickbooks software.


Financial Success in Mental Health Practice

Financial Success in Mental Health Practice
Author: Steven Walfish
Publisher:
Total Pages: 266
Release: 2009
Genre: Mental health services
ISBN:

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"For many independent mental health practitioners, having a profitable business and being an empathic clinician may seem mutually exclusive. In graduate training, little emphasis is placed on learning, refining, and mastering the business aspects of private or group practice. In fact, very few clinical doctoral programs provide any business or financial management training for future practitioners. In this volume, Steven Walfish and Jeffrey E. Barnett provide a comprehensive tool kit for practitioners to develop their business acumen and fully complement their extensive clinical training. The authors skillfully demonstrate that top-notch clinical expertise along with sound business practices is the winning combination for long-term success. Financial Success in Mental Health Practice shows readers how to market their practice, ensure its profitability, provide quality client service delivery, manage office overhead, implement effective accounting practices, handle commercial taxes and business expenses, navigate insurance claims and reimbursements, and plan for retirement. Written in an accessible and engaging style, this volume offers sample forms, letters, and fee schedules, as well as interviews with highly successful entrepreneurs and executive managers. This complete resource will equip the early career or seasoned clinician with the tools and strategies needed for a rewarding and fruitful career"--Jaquette (PsycINFO Database Record (c) 2009 APA, all rights reserved).


Financial Management Strategies for Hospitals and Healthcare Organizations

Financial Management Strategies for Hospitals and Healthcare Organizations
Author: David Edward Marcinko
Publisher: CRC Press
Total Pages: 350
Release: 2013-09-05
Genre: Business & Economics
ISBN: 1466558741

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In this book, a world-class editorial advisory board and an independent team of contributors draw on their experience in operations, leadership, and Lean managerial decision making to share helpful insights on the valuation of hospitals in today‘s changing reimbursement and regulatory environments.Using language that is easy to understand, Financia


Successful Private Practice

Successful Private Practice
Author: Susan Frager
Publisher: John Wiley & Sons
Total Pages: 292
Release: 2000-03-03
Genre: Medical
ISBN:

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Written by an industry insider, Managing Managed Care offers a candid and unprecedented behind-the-scenes view, with focus on issues of vital importance to today's practitioner: understanding the "participating-provider" contract; challenging fee reductions; writing treatment reports in "managed-care-friendly" language to enhance the likelihood of obtaining continued authorization; the nuts and bolts of "medical necessity"; effectively fighting denials of care; and getting claims paid."--BOOK JACKET.


The Well-Managed Mental Health Practice

The Well-Managed Mental Health Practice
Author: Donald E. Wiger
Publisher: John Wiley & Sons
Total Pages: 306
Release: 2007-10-05
Genre: Psychology
ISBN: 0470166835

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The step-by-step guide to building and managing a profitable and successful practice or clinic Beyond your training as a therapist, the skills required to create and build a practice and to supervise others are typically not taught as part of your clinical training. There are myriad decisions you must make, including financial, organizational, and marketing decisions, that will determine the success and profitability of your practice, group practice, or clinic. The Well-Managed Mental Health Practice draws from author Donald Wiger's vast experience as owner and manager of both small and large mental health practices and clinics. This helpful resource provides sound business practices, immediately useful insights into the accrediting process, and other critical information you will need to avoid legal trouble, ensure payment from individuals and third party payors, and create a thriving practice. Designed for practices or clinics of any size and at any stage of development--from start-up through mature business--this easy-to-follow book looks at all the issues involved with starting and running a mental health practice and offers: * Practical advice on how to increase business, develop your professional reputation, and set priorities, as well as helpful insights on customer service, employee relations, time management, and coping with stress * Indispensable tools for developing business and management skills to ensure smooth operation and maximum profitability * Useful tips for handling problems encountered by clinic directors and clinic decision-makers * Numerous sample forms and procedural documents A vital reference for a wide range of mental health professionals, The Well-Managed Mental Health Practice is an important guide that will equip you with the skills necessary to develop a financially successful practice that survives and thrives.