Business Philosophy
Just as listening like a therapist often involves listening for what is not being said, part of having a successful psychotherapy practice is about being successful at business as much as it's about the psychotherapy. Business decisions I have made have been well thought out and based on years of personal and professional experience. Understanding the philosophy which underlies my business decisions may be just as important as understanding the theories of psychology I employ.
I do not bill any insurance companies. I provide statements which many of my patients chose to submit to their insurance company. And many do receive some reimbursement. This was considered a risky business move in 2002. I made this decision based on my strong beliefs about the sanctity of the therapy relationship and the desire to limit interference from outside forces dictating treatment based on monetary motivations.
Do I lose potential patients because of this? Yes. However, 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 truly invest in therapy. They and I are both committed to what is in their best interest. My education about the insurance industry came from working in free clinics, Community Mental Health, for-profit facilities and for a multi-million dollar managed care company.
Another business decision I made, based on personal philosophy rather than short sighted financial gains, was to give services freely to the community. I believe that the personal satisfaction gained from giving freely is much more gratifying than more money.
Could those hours have been spent seeing more patients and trying to make more money? Yes. Through giving in the community, I gain a fuller perspective of the issues impacting a wider range of individuals. I provide pro bono services in a variety of ways: on site consulting at schools; presentations to other professionals; and developing policy and programming for organizations. I also donate all over payments each year to The Ruth Ellis Center.
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 act on my belief that collaboration and communication are an important part of quality treatment. Whether it is online communication other multi-disciplinary professional around the world , or the early in the morning, late in the evening or even weekend conversations with other local providers, I try to learn from colleagues . I was sold on the idea of working as a team when I worked in Inpatient psychiatric hospital settings.
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. However, as a result of this policy, I can do less collection work and more therapy and/or continuing education. Also, without cash flow worries I have only had to raise my rates by thirty dollars since 2002.
I only see patients 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 communication in the here and now. Valuing what patients are telling me and taking care of my own mental health is my way of leading by example.
In conclusion, the business philosophy I developed in 2002 is based a lot on transparency -- before it was even a buzz-word! I keep the business part of things simple and I keep the focus on providing quality care. Though it is a Psychotherapy Business, the business part of it is the means to the end (Psychotherapy) and not the other way around.
I do not bill any insurance companies. I provide statements which many of my patients chose to submit to their insurance company. And many do receive some reimbursement. This was considered a risky business move in 2002. I made this decision based on my strong beliefs about the sanctity of the therapy relationship and the desire to limit interference from outside forces dictating treatment based on monetary motivations.
Do I lose potential patients because of this? Yes. However, 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 truly invest in therapy. They and I are both committed to what is in their best interest. My education about the insurance industry came from working in free clinics, Community Mental Health, for-profit facilities and for a multi-million dollar managed care company.
Another business decision I made, based on personal philosophy rather than short sighted financial gains, was to give services freely to the community. I believe that the personal satisfaction gained from giving freely is much more gratifying than more money.
Could those hours have been spent seeing more patients and trying to make more money? Yes. Through giving in the community, I gain a fuller perspective of the issues impacting a wider range of individuals. I provide pro bono services in a variety of ways: on site consulting at schools; presentations to other professionals; and developing policy and programming for organizations. I also donate all over payments each year to The Ruth Ellis Center.
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 act on my belief that collaboration and communication are an important part of quality treatment. Whether it is online communication other multi-disciplinary professional around the world , or the early in the morning, late in the evening or even weekend conversations with other local providers, I try to learn from colleagues . I was sold on the idea of working as a team when I worked in Inpatient psychiatric hospital settings.
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. However, as a result of this policy, I can do less collection work and more therapy and/or continuing education. Also, without cash flow worries I have only had to raise my rates by thirty dollars since 2002.
I only see patients 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 communication in the here and now. Valuing what patients are telling me and taking care of my own mental health is my way of leading by example.
In conclusion, the business philosophy I developed in 2002 is based a lot on transparency -- before it was even a buzz-word! I keep the business part of things simple and I keep the focus on providing quality care. Though it is a Psychotherapy Business, the business part of it is the means to the end (Psychotherapy) and not the other way around.
