private practice for new professionals
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Private Practice for New Professionals. Business aspects of private practice Catherine Pagano, LICSW, MSW Reid Stell , LMHC City University of Seattle October 17, 2014. Business Aspects of Private Practice. Setting up a business and office Billing and record keeping Finances - PowerPoint PPT PresentationTRANSCRIPT
Private Practicefor New ProfessionalsBUSINESS ASPECTS OF PRIVATE PRACTICE
Catherine Pagano, LICSW, MSWReid Stell, LMHC
City University of Seatt leOctober 17, 2014
Business Aspects of Private Practice
• Setting up a business and office
• Billing and record keeping
• Finances
• Insurance panels
• Malpractice insurance
• Tax implications
• Forms
Business Aspects of Private Practice
• Setting up a business and office
• Billing and record keeping
• Finances
• Insurance panels
• Malpractice insurance
• Tax implications
• Forms
Setting Up a Business Office• Business entity options
• Corporation• LLC• PLLC• Sole proprietorship• DBA (fictitious business name)• Consult a lawyer: Free to WMHCA members• Small Business Administration: SBA.gov
• Business license• Washington State: Washington Dept. of Revenue • City: List of participating cities
Setting Up a Business Office• Web hosting service (such as GoDaddy.com)
• Domain name (URL)• Site hosting
• Website creation and maintenance• Do it yourself
• Weebly.com• Squarespace.com• Wix.com• Web.com• Moonfruit.com
• Therapysites.com ($59/mo.): 1 month free for AMHCA members!• Hire a designer• Phone a friend
Setting Up a Business Office
• Directories• Psychology Today Directory: 6 months free for AMHCA members!
• Your specialties• Your profile• Find office space
• GoodTherapy.org: Check it out• Your specialties• Your profile• CEU offerings
Setting Up a Business Office
• Directories• Open Path Psychotherapy Collective: Sliding Scale Club• SCA – Seattle Counselors Association: Join here• Counseling Seattle: To get listed• WMHCA: "Find a Clinician"
Setting Up a Business Office
• Your professional association• American Mental Health Counselors Association• Washington Mental Health Counselors Association• National Association of Social Workers• Clinical Social Work Association• Benefits to you
• Networking• Advocacy• Continuing education• Professional development• Fulfilling your ethical responsibility to the field
Setting Up a Business Office
• Office space• Join with a colleague• Join with a medical professional• Share space (Craigslist)• Find a group
• ABLE Counseling Services• Accord Associates
• $65/month: In Redmond• Public library
Business Aspects of Private Practice
• Setting up a business and office
• Billing and record keeping
• Finances
• Insurance panels
• Malpractice insurance
• Tax implications
• Forms
Billing and Record Keeping
• Paper records (2 locks)
• Encrypted word processor document
• Encrypted spreadsheet
• Calendar• Paper• Phone/online• Online appointment service: Square Appointments
Billing and Record Keeping
• Electronic records• Scheduling• Submitting claims to insurance companies
• Your NPI Number: Apply • Manually• Using a billing service
• Office Ally: Check it out• Another EHR provider: KASA Solutions• And another: TherapySites
Billing and Record Keeping
• Ethics• Professional will: Template• HIPAA/HITECH risk analysis and safeguards: Checklist• Policy and procedures manual• Roy Huggins, LPC, NCC (Portland): Person-Centered Tech• Eric Ström, JD, LMHCA (Seattle): Ström Consulting
Business Aspects of Private Practice
• Setting up a business and office
• Billing and record keeping
• Finances
• Insurance panels
• Malpractice insurance
• Tax implications
• Forms
Finances
• Budgeting
• Banking• Accounts• Cash, check, card, and EFT
• Merchant services: Stripe.com
• Borrowing money
• High vs. low overhead
Finances
• Fee structure• Services and fees• Sliding scale• Pro bono
• Meet with a Financial Advisor• Ask your colleagues for referrals• Here’s one Reid knows:
• Michael S. Avzaradel• Pacific Capital Resource Group, Inc.• Ph: 206-332-7020 Direct: 206-332-7022• [email protected]
Business Aspects of Private Practice
• Setting up a business and office
• Billing and record keeping
• Finances
• Insurance panels
• Malpractice insurance
• Tax implications
• Forms
Insurance panels
• Network contracts• Advantages and disadvantages• Applying to join networks (i.e., getting credentialed)• CAQH number: Good luck• OneHealthPort: Check it out• Medicaid: Provider enrollment• Thriveworks: Credentialing service
• Working out of network• Preauthorization• Deductibles
Business Aspects of Private Practice
• Setting up a business and office
• Billing and record keeping
• Finances
• Insurance panels
• Malpractice insurance
• Tax implications
• Forms
Malpractice Insurance
• Update your liability insurance
• CPH & Associates (discount through WMHCA): Site
• Umbrella policy
• Legal expenses rider
• HIPAA/HITECH rider
Business Aspects of Private Practice
• Setting up a business and office
• Billing and record keeping
• Finances
• Insurance panels
• Malpractice insurance
• Tax implications
• Forms
Tax Implications
• Corporation vs. sole proprietorship
• Your accountant/bookkeeper
• Revenues
• Expenses
Business Aspects of Private Practice
• Setting up a business and office
• Billing and record keeping
• Finances
• Insurance panels
• Malpractice insurance
• Tax implications
• Forms
Forms• Confidential Client Intake Information
• Disclosure Statement
• Client Rights and Authorization for Treatment (Informed Consent)
• Financial Policy and Fees
• NPP: Notice of Privacy Practices (HIPAA/HITECH)
• ROI (Release of Information)
• Sources of forms• Therapist Private Practice site: Free samples from Anna Deeds, LPC• Reid’s forms: Take what you want
Resources
• Books• Getting Started in Private Practice: The complete Guide to Building Your
Mental Health Practice, Chris E. Stout and Laurie Cope Grand: Amazon• Getting Better at Private Practice, Chris E. Stout: Amazon
• Videos• Dr. Larry Waldman, Ph.D. talks about private practice for mental health
therapist: Youtube• The advantages of having your own private practice in mental health...:
Youtube• 2013 CPT Codes: How They Effect Counselors and Psychologists: Youtube
Private Practicefor New Professionals
Keep in touch!
Catherine Pagano, LICSW, MSW206 407-7054 [email protected]
CatherinePagano.com
Private Practicefor New Professionals
Keep in touch!
Reid Stell, LMHC206 457-3038 [email protected]
ReidStellCounseling.com