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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 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.


Getting Started in Private Practice

Getting Started in Private Practice
Author: Chris E. Stout
Publisher: John Wiley & Sons
Total Pages: 359
Release: 2004-10-11
Genre: Psychology
ISBN: 0471426237

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All the tips and tools you need to build a successful mental health practice from the ground up Many mental health professionals currently working for group practices, hospitals, and private or government agencies have both the skills and the drive to become solo practitioners. But how and where do you begin? Getting Started in Private Practice is a reliable reference that offers the comprehensive information and armchair motivation you need to establish and build your own practice from the ground up. User-friendly and full of helpful tips, this handy book provides you with tools and techniques for starting and maintaining a thriving private practice, including information on: * Discovering your ideal practice * Creating a business plan * Financing your start-up * Setting fees * Setting up shop and measuring results * Minimizing risk * Managing managed care * Marketing your practice * Generating referrals * Utilizing additional print, Web, and organizational resources From major concerns such as ethics and liability to day-to-day matters like selecting stationery and business cards, Getting Started in Private Practice puts the best solutions at your fingertips. Whether you're a recent graduate or a seasoned pro, this invaluable resource will help you minimize the uncertainty of establishing a solo practice while maximizing the rewards.


Mastering the Financial Dimension of Your Psychotherapy Practice

Mastering the Financial Dimension of Your Psychotherapy Practice
Author: Peter H. Cole
Publisher: Taylor & Francis
Total Pages: 296
Release: 2017-06-27
Genre: Psychology
ISBN: 1317432843

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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.


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.


The Ethics of Private Practice

The Ethics of Private Practice
Author: Jeffrey E. Barnett
Publisher: Oxford University Press, USA
Total Pages: 217
Release: 2014
Genre: Medical
ISBN: 0199976627

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The Ethics of Private Practice helps mental health professionals understand the essential ethical issues related to the many challenges of being in independent practice. Seasoned clinicians Barnett, Zimmerman, and Walfish offer readers astute insight into building a practice that is designed to minimize unintended ethics violations and reduce associated risks. Each chapter focuses on a major aspect of the business of practice and incorporates relevant standards from the ethics codes of four mental health professions. Topics addressed include planning and successfully managing a practice, documentation and record keeping, dealing with third parties and protecting confidentiality, managing practice finances, staff training and office policies, advertising and marketing a practice, continuing professional development activities, and the closing of a private practice. Full of practical tips that can be readily implemented, this handy guide will be the go-to resource for all mental health clinicians in private practice.


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.


Private Practice Essentials

Private Practice Essentials
Author: Howard Baumgarten
Publisher: PESI Publishing & Media
Total Pages: 0
Release: 2017-03-27
Genre: Psychology
ISBN: 9781683730521

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Private Practice Essentials is an innovative, practical guide and workbook for creating business and clinical success in your counseling and therapy practice. You'll be guided through numerous exercises that provide a solid and personalized plan with realistic and attainable goals. It's like having a professional business consultant right at your fingertips. 75+ reproducible worksheets, forms and exercises * Networking & Marketing Strategies * Tips to Improve Financial Success * Budgeting Tools * Clinical Intake and Business Forms * Business Plan Templates * Diversification Strategies


Handbook of Private Practice

Handbook of Private Practice
Author: Steven Walfish
Publisher: Oxford University Press
Total Pages: 592
Release: 2017-03-13
Genre: Psychology
ISBN: 0190671882

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Handbook of Private Practice is the premier resource for mental health clinicians, covering all aspects of developing and maintaining a successful private practice. Written for graduate students considering the career path of private practice, professionals wanting to transition into private practice, and current private practitioners who want to improve their practice, this book combines the overarching concepts needed to take a mental health practice (whether solo or in a group) from inception, through its lifespan. From envisioning your practice, to accounting and bookkeeping, hiring staff, managing the practice, and running the business of the practice, a diverse group of expert authors describe the practical considerations and steps to take to enhance your success. Chapters cover marketing, dealing with insurance and managed care, and how to choose your advisors. Ethics and risk management are integrated throughout the text with a special section also devoted to these issues and strategies. The last section features 26 niche practices in which expert practitioners describe their special area of practice and discuss important issues and aspects of their specialty practice. These areas include assessment and evaluation, specialized psychotherapy services, working with unique populations of clients, and more. Whether read cover-to-cover or used as a reference to repeatedly come back to when a question or challenge arises, this book is full of practical guidance directly geared to psychologists, counselors, social workers, and marriage and family therapists in independent practice.


The Resilient Mental Health Practice

The Resilient Mental Health Practice
Author: Jennifer M. Ossege
Publisher: Taylor & Francis
Total Pages: 190
Release: 2017-02-03
Genre: Psychology
ISBN: 1317374959

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The Resilient Mental Health Practice: Nourishing Your Business, Your Clients, and Yourself is a fundamental resource for mental health professionals, designed to serve as a comprehensive yet parsimonious handbook to inspire and inform novice, developing, and experienced mental health professionals. Replete with case studies, The Resilient Mental Health Practice gives readers a big-picture view of private practice, including detailed explorations of various topics related to therapist self-care and preventing burnout. Chapters provide a range of ways in which clinicians can build a resilient and sustainable practice while also taking care of their clients and themselves.