#thrivingprivatepractice #whattheresearchshows sean b. stokes, ph.d., lpc-s, lmft-s private practice...

private practice research1

#thrivingprivatepractice#whattheresearchshows

Sean B. Stokes, Ph.D., LPC-S, LMFT-S

private practice research2

private practice research3

Review of the Literature

Review of Literature

Lit on Private Practice is scarce (Harrington, 2013)

This lack of research could be due to lack of collaboration between academia and clinicians

Journal of Mental Health Counselors devoted one issue to this topic (vol. 35, 2013).

Review of the Literature There is some concentration on forms of

practice.

Sole proprietorship, partnerships, corporations

Additional focus on how to start up and maintain practice.

Picking a space, networking, finding niche

Burnout rate is lower than those in community health settings

Creating positive environment important

Review of the Literature

Colburn (2013) points to need to diversify

Services offered can bring potential income and greater presence in community

Look to add services that take little to no further certification

Contract with community organizations

Offering group services and testing services

Review of the Literature—Business Mindset

Key elements of success (Horak, 2009; Rossi, 2009)

Private practice is blend of healthcare and small business

Entrepreneurial innovation

Have to become more comfortable with fact you own/operate a business

Learning to run a successful business

Review of the Literature—Business Mindset

“Those practitioners with the spirit of an entrepreneur are the most successful in private practice (Walfish & Barnett, 2009, p. 17).

Entrepreneurial mindset gives clinicians better chance to create opportunities to grow practice and network with others

Hard for clinicians to get minds set of for-profit business

Very little training offered while in Masters program

private practice research9

Review of the Literature—Business Mindset

Developing a SWOT analysis is fairly straightforward. List five items in each of the following categories that best describe your practice.

1. Strengths. What makes your practice effective, different, or special?

2. Weaknesses. In what areas does your practice need to improve?

private practice research10

Review of the Literature—Business Mindset

3. Opportunities. Where are there opportunities for you to enhance your practice and improve your chances of achieving your goals?

4. Threats. Aside from internal weaknesses (item 2), what are real threats to the success of your practice?

Stout, Chris E.; Grand, Laurie C. (2007-07-31). Getting Started in Private Practice: The Complete Guide to Building Your Mental Health Practice (Kindle Locations 983-987). Wiley. Kindle Edition.

private practice research11

private practice research12

Review of the Research

private practice research13

Demographics

Average number of therapists in the practice => 1.6

Average number of fully licensed counselors / therapists => 1.5

Average number of intern / associates => .33

Average number of clients / week => 16.25

Average fee collected => $83.00

private practice research14

Demographics

Average degree => Masters

Average license held => LPC

Average number of years in practice => 10

Average business structure => PLLC

private practice research15

Defining a Thriving Practice

Most common answer received was having a practice that generated more income than expenses and allowed the participant to be “as busy as they wanted to be.”

Other answers including have at least 20 clients a week, having a full calendar booked at least 3-4 weeks ahead, and having a good name in the community.

private practice research16

Defining a Thriving Practice

Top three responses: Generating sufficient income

Generating an appropriate number of referrals

Receiving positive client feedback

Subsequent responses: Being well-known in the community

Being emotionally and/or spiritually rewarding

private practice research17

Training Received

All but two respondents stated they had received little to no training in their Master’s degree program regarding starting or running a private practice.

Two respondents stated they were in the business world prior to becoming therapists / counselors which helped in setting up their practices.

private practice research18

Main Sources of Income

Majority of respondents reported that they have a mixture of private pay, insurance and EAP contracts.

Majority of respondents reported they take credit cards and that the convenience for the client outweighed the cost of accepting the cards.

private practice research19

private practice research20

Marketing

The number one answer for marketing approaches was meeting other professionals face-to-face to generate referrals (e.g. Networking with others). Other professionals included clergy,

attorneys, doctors, psychiatrists and other licensed professionals in agencies and private practice.

Additional networking opportunities included memberships in local professional associations / organizations.

private practice research21

Marketing

Second answer was relying on word-of-mouth referrals from clients / former clients.

Third most popular answer was having a good website along with internet presence.

private practice research22

Marketing

Many participants noted that they teach classes or give seminars in their communities.

Examples included speaking or teaching at: PTA meetings

Lion’s club / Kiwanis / Rotary club

YMCA / YWCA

teacher in-service trainings

private practice research23

Social Media

private practice research24

Smart phones and social media expand our universe. We can connect with others or collect

information easier and faster than ever.

~ Daniel Goleman

private practice research25

Social Media Usage

Facebook => 6

Twitter => 2

Instagram => 1

LinkedIn => 5

Psychology Today => 11

Google+ => 2

Tumbler => 0

WordPress / Blogging => 4

private practice research26

Additional Social Media Outlets & Use of Technology

YouTube

Foursquare

Radio

Increasing the Search Engine Optimization (SEO)

private practice research27

Participant Quotes

“I’ve found the most beneficial thing for me in developing my practice has been building relationships…with peers…who often refer to me.”

“Don’t work in isolation. Don’t be afraid of reaching out to others in the profession.”

“Find your market niche. Gain a business acumen and don’t be embarrassed to talk about money.”

private practice research28

Take-away from Research

Have to do face-to-face marketingHave to have entrepreneurial spiritHave to have business acumen

Have to think of the practice

as a business

private practice research29

private practice research30

Putting It All Together

private practice research31

Developing a Business Plan

Goals

Short-term goals

Long-term goals

Business Structure

Financial Goals

Service Description

Pricing Structure

private practice research32

Developing a Business Plan

Networking / Marketing

Who?

What?

Where?

How?

SWOT Analysis

private practice research33

Resources

The Therapist’s Advertising and Marketing Kit by Laurie C. Grand (2002).

Getting Started in Private Practice: The Complete Guide to Building Your Mental Health Practice by Chris E. Stout and Laurie C. Grand (2007).

Building Your Ideal Private Practice: A Guide for Therapists and Other Healing Professionals by Lynn Grodzki (2000).

Practice of the Practice | A Start-up Guide to Launching a Counseling Private Practice by Joseph R. Sanok (2012).

ReferencesCohn, T. (2013). Building a practice in rural settings: Special considerations. Journal of Mental health

Counseling, 35, 228-244.

Colburn, A. (2013). Endless possibilities: Diversifying service options in private practice. Journal of

Mental Health Counseling, 35, 198-210.

Harrington, J. A. (2013). Contemporary issues in private practice: Spotlight on the self-employed mental

health counselor. Journal of Mental Health Counseling, 35, 189-197.

High, L. (2007). Legal issues in private practice Family Therapy Magazine, Sept-Oct, 36-39.

Horak, J. (2009). Can a marriage and family therapist think like an entrepreneur?, Family Therapy

Magazine, Nov-Dec, 44-46.

Kelley, L. (2006). How to motivate clients to show up for appointments. Family Therapy

Magazine, Oct-Nov, 35-37.

Lent, J. & Schwartz, R.C. (2012). The impact of work setting demographic characteristics, and

personality factors related to burnout among professional counselors. Journal of Mental Health

Counseling, 34, 355-372.

Rossi, P. (2009). The practice of private practice. Family Therapist Magazine, Nov-Dec, 34-39.

Walfish, S., & Barnett, J.E. (2009). For optimal success, think like an entrepreneur. Family

Therapy Magazine, Nov-Dec, 17-20.