Startup Costs of Part Time Private Practice | Start Private Practice on a Budget
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- Опубликовано: 30 июл 2024
- Startup Costs of Part Time Private Practice | Start Private Practice on a Budget
FREE Guide: Start a Private Practice in Counseling:
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So you’re thinking about starting a psychotherapy private practice, but how much does it cost to start? In this video I’ll share with you the costs of starting a part-time private practice, and share some tips to save money if you’re on a budget.
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Google Voice:
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Vista Print:
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Psychology Today Find a Therapist:
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This video is geared for therapists of all kinds, including psychologists, MFTs, LPCCs, social workers, and others in the clinical counseling field.
Welcome to Private Practice Skills! I’m Dr. Marie Fang, psychologist in private practice. I post videos offering tools I learned the hard way about starting and growing private practice so that you don’t have to.
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Music Credit:
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This video is not intended as professional or legal advice. Be sure to seek the services of a professional if you are in need of them.
-Website: This doesn’t have to be pricey - you can even start a website for free, but I recommend starting with an ad-free option, which can range from about $15-$35 per month if you design your own website. You can also pay someone to make a website for you, which can get pricey depending on how fancy you’d like to be.
-Office: For part-time practice, the cheapest route is to find someone within your networks who will let you pay-per-hour for their office, or subletting an office just one day per week. In my area, you can rent for around $15 per hour or around $180+ per month to rent one day a week. Keep in mind that this number varies vastly depending on where you live. You may also need to pay a security deposit as well, though not always!
-Liability Insurance: If you’re purchasing liability insurance for the first time, you can usually get a good deal around $400 per year (they usually have you pay the annual cost up-front), going up from there. Personally, I’ve chosen a bit more coverage that costs me $800 per year.
-City Business License: Every city has it’s own laws about business licenses. I’ve had businesses in 3 different cities and paid annual fees ranging from $90-$200, so it can range quite a bit. Be sure to check with your city for their policies and costs.
-File Cabinet or Practice Management System. For all my love of technology, I’ve stayed old-school after a few scarring experiences with an online practice management system. Before going full-time, I used a portable file box that cost under $20 plus a padlock from the dollar store. I’ll link below to the file box I used. Just make sure you find a file box that has the capacity to lock. If you go the Practice Management Systems route, they typically charge a monthly rate. For example, Simple Practice costs $39 per month at their most basic plan (just think: in the 6 years I’ve been in private practice, I’ve saved almost $3000 by skipping that cost!
The rest of these are totally optional costs, though they could potentially be free or things you decide not to have at all.
-Phone Line: I use Google voice. Assuming you have a smart phone already, it’s totally free! I don’t recommend using your personal number for liability reasons, but I know lots of therapists who do. You can also pay for your own phone line.
-Email: It is an option to use a free email account. I pay $5 a month for G Suite, which allows me to make my emails HIPAA compliant. More in a future video on how to be HIPAA compliant with email.
-Business Cards: Business cards aren’t totally necessary. Especially working with younger people, most clients just take a photo of my business card on their phone and I don’t end up passing them out.
-Directories. Totally optional. Psychology Today usually lets you have a free 6 month trial. Start with that and then see if it’s helping before deciding to pay.
I hope you found this video helpful to give you an idea of the startup costs of part-time private practice. Until next time, from one therapist to another, I wish you well.
I am starting a private practice in my area and love your stuff. It has been my go to for help. I am a motivated self starter but there is so much I don't know and things I needed to know. So having your site is so helpful for me. Thank you I appreciate you doing this.
Oh yay, that makes me so happy to hear! Let me know if there are any stuck items that pop up that you'd like to see me cover. Best wishes as you get started!
Thank you so much for this channel! I think you are the only one doing this in our field. So desperately needed!
Just what I was looking for, thank you so much for filming this!
thank you so much for your videos and personal tips, they are so helpful!
I just discovered your videos and am finding them very helpful. Thanks so much for sharing this information!
That makes me happy! Best wishes to you :)
This is so helpful for so many therapists starting out! Worrying about cost can become so overwhelming!
Absolutely! I know I had no idea what costs to expect when I first started
Thank you for this video as this can apply to other private practice other than therapy.
thank you, this sounds realistic and doable!!
I absolutely loved this video! I’ve been researching opening my own private practice as a LCSW soon. This video was informative. I plan on watching your other videos!
How’s it going? How much does insurance reimburse LCSWs?
@@our.secret1130 yes I am trying to get my master’s in SW & want to have my one practice one day:)
It’s definitely expensive to run a private practice- so many different costs! But I love being my own boss. 😊
Loved this, thank you. Surprised it doesn’t have much likes or views
Aw, thank you!! ♥️ I'm still new on the scene, so I'm still building an audience. Your comments and likes help me grow, so thanks for that as well! Best wishes!
Your videos are so helpful!
I’m in the process of getting my LPC in Texas! I have my goals set on private practice but I’m still in school. My program doesn’t offer ANY of this information with the exception of the occasional workshop. The prospect of starting a private practice seemed so daunting, and while I know it will be hard work but your video made me so excited and made my goal seem more obtainable! Thanks so much ❤️
How great! Now is a great time to get started building connections and positioning yourself to be ready for private practice when the time comes. Best of luck to you!
Hey Brooke,
what are the main things that made starting a PP feeling "daunting" to you?
You explained this really well!
Thank you! That means a lot coming from you!
Hi! I really appreciate this video, it was so informative especially for me. I hope to one day open my own practice as a pmhnp. I do have one question though. What are your thoughts on possibly doing house visits as a service along side telehealth for those who may not be tech savvy? I thought it may be a good way too keep down costs and overhead for renting a place for someone starting out. What's your opinion?
This video is outstanding!
Oh thank you! Glad to hear it :)
I am just in the process of considering a part-time private practice and this is the very first video I have seen about this topic. I really found it informative and it provided a lot of helpful ideas. Thanks! 👍
I’m so glad to hear! I recommend starting part time for most. Good luck!
@@PrivatePracticeSkillsYes, that is my intention. I like your suggestion to sublet a private office at an existing practice. Very sage advice.
@@PK-hg6gl Good luck with that!
Thank you !
very helpful and informative
Wish I saw you and these videos a year ago! Still relevant! thanks!
Your videos are awesome...new subbie.
They have virtual business cards now :)
Great video! I'd love to see a video on the "tweaks" to G Suite to make it HIPPA compliant.
Perfect timing, that exact video is set to release this Friday! Once it's live, you can find it at this link: ruclips.net/video/A5JoY-Y_BMY/видео.html
HIPAA*
Thank u 🌸
I was wondering about teletherapy which would be a little less costly. My question is if I want to do it as a home office as I’m applying for credentialing with insurance and putting info into CAQH how do I protect my home address? Everything asks for a practice location.
This was so helpful! I keep thinking about taking a jump into the world of private practice, I see tons of opportunities for contractor positions. Any advice on contractor positions? Fellow Bay Area gal here, but I’m out in Phoenix now!
I've been hearing people ask about contractor positions more often. I've never been in a contractor role myself! But I've noted your question and I hope to learn more about it in the future. Best wishes to you!
Thank you so much for sharing all of this extremely helpful info! I will be working with teens and I’d like to be able to send hippa compliant texts. I see that texting is an option with google voice, but I wasn’t able to determine if it would be hippa compliant. Do you know?
Ooh that's a great question. To be honest, I don't know the answer! I need to look into that. Let me know if you end up finding the answer!
N-O!
Hi Marie! Love your videos as always! I'm starting a part-time private practice, and will not be accepting insurance (private pay only)! Question for you though - do I need a HIPAA-secure e-fax number? I know you need an e-fax number if you are taking insurance for paneling purposes, but do you know if having a fax number is required for all private practices? I feel confident that I can communicate with my EHR system and secure client portal to send PDFs back and forth, but just can't find a space that for sure confirms that fax numbers are NOT required if you are taking private pay! Thank you so much again for all that you do!
Great Question! I hadn't thought about it since my office has a secure fax machine. I'll say this: In the 8 years I've been in private practice, I've sent out 2 faxes - both related to helping clients access out of network billing features with their insurance provider. And both were earlier on. I imagine if I didn't have access to a fax, I would have been able to send via snail mail. I hope this answers your question!
Did you make a gsuite hippa video?
Does anyone know where the Gsuite email video is located?
Is this just for the sole proprietorship? Thought there were more costs for establishing your name
GoCanvas is a great software and its HIPAA Compliant. I use the free version because i don't really need all extra stuff.
That's such a great tip! do you find it fairly easy to learn how to use it? I might be interested in looking into it!
@@PrivatePracticeSkills Yes, Its easy! I'm a CMT so I customize my client intake forms, membership agreements, etc. Then on my Ipad I have my clients fill them out. You can also send them to clients to fill out on their own as well, but I haven't played with that feature.
Looking for part 2 & 3
Rebecca Monroy thank you for the reminder! I’m spacing them out so keep your eyes peeled, they’re coming! ;)
Hi I’m looking into becoming a psychologist and was wondering if Psychologists can bill insurance, can they?
Yes they can!
More specifically, each insurance panel has their own individual requirements. So I'd check with the various insurance panels available in your area to see who is taking on psychologists. But generally speaking, yes! Psychologists can definitely be on insurance panels. :)
Great information! What practice management software do you use (even though you’re old school) with paper files?😀
TheMacaddict06 ha! It’s literally lined paper with my letterhead on it - I don’t use any practice management software. Is there a system that you’re referring to for paper files? I might not be familiar!
Perfect! you are sooo cute....thank you doc.
Gina Loveslife 😅 thank you! Glad you find this helpful!
Careful! I do not think Google Talk is HIPPA compliant! If you have different information, please share, but you could be putting yourself at great breach risk if you use a phone service that is not HIPPA compliant.
I wish having your own phone line was as easy (and as cheap) as Google Talk, but you might have to fork out a hefty monthly sum for an additional line or phone service. Ugh!
You can make Google Voice HIPAA secure! I have a video showing how to do it: ruclips.net/video/_RwB6r4gOcc/видео.html
This was a relatively recent update (2018, I think?). But you’re right, it’s not automatically HIPAA secure!
It does cost a bit to make Google Voice HIPAA secure, but it’s way cheaper than some of the other options!
@@PrivatePracticeSkills Two words: You rock. Two more: Thank you! I will check out your video and learn before I spend the dough! Take care.
😅 thanks for your kindness! Yes, always do your research as I’m indeed human too! If you find something I missed (or a more enticing option!) feel free to let me know!
What country do u live?
Major Payment!!!
I would like to start off by saying that I've watched several of your videos as it pertains to private practice and starting a successful counseling business. There were alot of helpful tools and resources provided.
But as I looked deeper into your methodology and belief system I was truly alarmed. How can someone call themselves a Christian and deny God's very word related to gender identity, confusion and homosexuality. True, everyone deserves to be loved and treated with respect but as Born Again believers we are not to condone or accept sin which is direct disobedience to God. Your platform has brought you notoriety, financial gain, and a voice... why would you use that to lead people in error. There is no such thing as a Progressive or Affirming Christian. God said be in the world and not of the world. Be **transformed** by the renewing of our mines not Conform to societal norms. Understand there will come a day you will have to answer to every idle word and false message that is spread.
I share this in love and respect so that you will repent and come back to the truth. God Bless....
1 Timothy 4:1-2
Now the Spirit speaketh expressly, that in the latter times some shall depart from the faith, giving heed to seducing spirits, and doctrines of devils; speaking lies in hypocrisy; having their conscience seared with a hot iron.
2 Timothy 4:1-4 KJV
I charge thee therefore before God, and the Lord Jesus Christ, who shall judge the quick and the dead at his appearing and his kingdom; preach the word; be instant in season, out of season; reprove, rebuke, exhort with all longsuffering and doctrine. For the time will come when they will not endure sound doctrine; but after their own lusts shall they heap to themselves teachers, having itching ears; and they shall turn away their ears from the truth, and shall be turned unto fables.