A503 The Future of Private Practice

The bad financial news is no secret: since 2000, the self-pay market has sharply eroded for both new and senior therapists--from 44 percent of clients to 26 percent--and overall income has nose-dived as well. Does this mean it's all over for private practice but the memories? Not at all, but therapists need to understand the "Big Picture"--economic and social trends now underway and what they mean for the future--so they can plan accordingly, continue to do the work they love, and earn a decent living. We'll examine why therapists are losing financial ground and how they can begin to gain it back. You'll get a sense of what populations, training, and services are likely to provide the greatest opportunities for therapists in coming years, and how to position yourself to make the most of changing trends to continue to build a satisfying and successful practice.

Meet The Instructor

Lynn Grodzki, L.C.S.W., is a psychotherapist, Professional Certified Coach, and internationally-known business coach. Through her writing and workshops, she's helped thousands of therapists build successful, viable private practices. She's the author of two bestselling books for therapists on practice building and the editor of The New Private Practice: Therapist-Coaches Share Stories, Strategies, and Advice, a look into the world of coaching through the eyes of therapists who have become coaches.

Course Contents

Session 1: Charting Your Future in Private Practice •Overview: The changing economic market and how it's affecting private practice • Rethinking entrepreneurial skills for today's market • Trouble in paradise: how to know whether your practice is in danger today • Basic action plan to reengineer your practice • Download: Current Challenges Checklist

Session 2: Asserting Autonomy • Cutting unhealthy dependencies • Strategies for getting off of managed care • Basic business positioning for viability • Developing an entrepreneurial mindset • Download: Hobby to Business Checklist

Session 3: Taking Leadership • Becoming the CEO of your private practice • How to analyze your practice • Taking an honest inventory of business strengths and weaknesses • Strategic focus for a small business • Download: Good to Great Exercise

Session 4: The 21st-Century Practice • Bringing technology into your practice • Fees, billing, and cutting expenses • Website do's and don'ts, Internet marketing, and optimization • Download: Profit Gains and Drains Checklist

Session 5: Risk Management • Determining risk vs. reward in private practice • What to spend on and what to save on • The best business models for the future of your private practice, Part 1 • Download: Ansoff Growth Matrix

Session 6: Survival of the Fittest • Small business evolution • Overcoming fear, disappointment, and anxiety as you go forward • The best business models for the future of your private practice, Part 2 • Download: Helpful Resources

Learning Objectives

1. Understand the complex market factors affecting private practice today.
2. Determine business strategies for staying viable given the current market conditions.
3. Learn to utilize technology (Internet marketing and website development) to enhance revenue, attract clients, and cut expenses.
4. Adopt entrepreneurial attitudes to further your ability to take action steps for your practice.

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