www.BeTreatedWell.com Business of Psychotherapy
There's a lot of paradox in the Business of Psychotherapy. Just as listening like a
therapist often involves listening for what is not being said, part of having a
successful psychotherapy practice is about the business as much as it's about the
psychotherapy. I continue to have a successful Business of Psychotherapy. If
psychotherapy business has slowed as a result of the recession, maybe this trend
has been offset in my practice by a number of business practices which are unique
to me and which are themselves paradoxical.
The most obvious is the fact that I do not bill any insurance companies. I provide
statements which many of my patients chose to submit to their insurance
company. Many do receive some reimbursement. This was considered a risky
business decision which I made based on my strong beliefs about the sanctity of
the therapy relationship. I chose to ignore the myth that a psychotherapist must
accept insurance. Do I lose potential patients because of this? Yes.
However, the decision may be part of why my business has remained steady even
though other businesses have struggled; Among other things, the fact that I do
not accept insurance acts as a self-selection process whereby patients who work
with me make an early and conscious commitment to invest in therapy.
Another business decision I made, based on personal philosophy rather than short
sighted financial gains, was to give services freely to the community. I hold a
spiritual belief about the rewards of living one’s life in a loving and giving way.
Could those hours have been spent seeing more patients and trying to make
money? Yes.
Through giving people know that I care and I gain a fuller perspective of the
issues impacting a wide range of individuals. In 2008 I spent many hours
providing pro bono services in a variety of ways; on site consulting at schools;
presentations to Primary Care Physicians and other professionals; developing
programming; and meeting with college students about careers in Psychology and
Education.
When I started practicing as a Psychologist I also made a decision to take time to
communicate with other professionals rather than fearing that other providers are
competition. Do I refer my patients to other providers and inform potential
patients about treatment options, thereby sending business away? Yes.
These other professionals appreciate that I share in the caring of our patients and
those I share with know that the collaborative work is an important part of quality
treatment. Whether it is online communication with those around the world who
are experts in their fields, or the more frequent (early in the morning, late in the
evening or even weekend) conversations with other local providers, I focus on my
patient ‘s needs rather than my own ego needs.
Finally, a strictly financial business decision that I made when I entered solo
practice was to receive payment at the time of the appointment (weekly). Have I
had to temporarily or permanently suspend scheduled appointment s because a
patient cannot comply with that part of the treatment plan? Yes.
As a result of this policy, I can do less collection work and more therapy and/or
continuing education, etc. Also, without cash flow worries I have been able to not
raise my rates since March 2004.
One last business decision was about scheduling. I work Monday through
Thursday and regularly take vacations. Do I not make money when I am not at
work? Yes.
Time off is a crucial part of taking care of myself and preventing burn-out, allowing
me to be fully mentally present when I am in session with a patient. This is also
why the business of my psychotherapy practice (phone, computer, files, etc.) are
in an office separate from the consulting room. During appointments I am ready
and able to focus completely on the patient's communication.
There's a lot of paradox in the Business of Psychotherapy. Just as listening like a
therapist often involves listening for what is not being said, part of having a
successful psychotherapy practice is about the business as much as it's about the
psychotherapy. I continue to have a successful Business of Psychotherapy. If
psychotherapy business has slowed as a result of the recession, maybe this trend
has been offset in my practice by a number of business practices which are unique
to me and which are themselves paradoxical.
The most obvious is the fact that I do not bill any insurance companies. I provide
statements which many of my patients chose to submit to their insurance
company. Many do receive some reimbursement. This was considered a risky
business decision which I made based on my strong beliefs about the sanctity of
the therapy relationship. I chose to ignore the myth that a psychotherapist must
accept insurance. Do I lose potential patients because of this? Yes.
However, the decision may be part of why my business has remained steady even
though other businesses have struggled; Among other things, the fact that I do
not accept insurance acts as a self-selection process whereby patients who work
with me make an early and conscious commitment to invest in therapy.
Another business decision I made, based on personal philosophy rather than short
sighted financial gains, was to give services freely to the community. I hold a
spiritual belief about the rewards of living one’s life in a loving and giving way.
Could those hours have been spent seeing more patients and trying to make
money? Yes.
Through giving people know that I care and I gain a fuller perspective of the
issues impacting a wide range of individuals. In 2008 I spent many hours
providing pro bono services in a variety of ways; on site consulting at schools;
presentations to Primary Care Physicians and other professionals; developing
programming; and meeting with college students about careers in Psychology and
Education.
When I started practicing as a Psychologist I also made a decision to take time to
communicate with other professionals rather than fearing that other providers are
competition. Do I refer my patients to other providers and inform potential
patients about treatment options, thereby sending business away? Yes.
These other professionals appreciate that I share in the caring of our patients and
those I share with know that the collaborative work is an important part of quality
treatment. Whether it is online communication with those around the world who
are experts in their fields, or the more frequent (early in the morning, late in the
evening or even weekend) conversations with other local providers, I focus on my
patient ‘s needs rather than my own ego needs.
Finally, a strictly financial business decision that I made when I entered solo
practice was to receive payment at the time of the appointment (weekly). Have I
had to temporarily or permanently suspend scheduled appointment s because a
patient cannot comply with that part of the treatment plan? Yes.
As a result of this policy, I can do less collection work and more therapy and/or
continuing education, etc. Also, without cash flow worries I have been able to not
raise my rates since March 2004.
One last business decision was about scheduling. I work Monday through
Thursday and regularly take vacations. Do I not make money when I am not at
work? Yes.
Time off is a crucial part of taking care of myself and preventing burn-out, allowing
me to be fully mentally present when I am in session with a patient. This is also
why the business of my psychotherapy practice (phone, computer, files, etc.) are
in an office separate from the consulting room. During appointments I am ready
and able to focus completely on the patient's communication.
| Antonia Caretto, Ph.D., PLLC |
| www.BeTreatedWell.com phone: 248.553.9053 |
| Articles of Interest: Business of Therapy Anxiety Why Gender? Asperger's Disorder Adjustment Disorders Self-Injurious Behavior |
