What's the real cost of starting a private practice? Before you get your first client, check out this guide to learn which tools and services you should invest in for the growth of your therapy practice. 

Join me in this episode as we dive into a list of startup costs that therapists should consider when starting a solo private practice. You'll get great insights even when you've already been in business and trying to revamp the foundational methods in your practice.

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Timestamps:

• Price your license (02:55)
• Save up for CEs (04:06)
• Carry a malpractice insurance (05:56)
• Pay for bookkeeping services (06:29)
• Get an entity structure (07:43)
• Invest in EHR (10:08)
• Upgrade your email tools (12:22)
• Consider HIPAA platforms or add-ons (14:35)
• Get access to our text community and the 60-day Prosperous Private Practice Bootcamp (16:04)

  

Standout Quotes:

• "You definitely want to look at your money (at minimum) once a month, maybe even sit down with your bookkeeper. If you can't do it once a month, do it every quarter, because you want to be able to see how far you are from your goal of reaching your annual revenue income that you desire. You also want to see how you fluctuate in expenses throughout the year so that you can decide (you know what) I really don't use this system in my business as much as I thought I would, so let me go ahead and cancel it." (06:49)
• "One of the things that I often pour into my community is that, yes [EHRs] went up, you just probably started your private practice, it's an overhead cost that you may not have right away, but you are investing in a protected great system that runs well for your business." (10:30)

 Resources Mentioned:

• Register to the 60-Day Prosperous Private Practice Bootcamp for free at https://www.doctortk.com/bootcamp/  
• Check out SimplePractice and earn $100 credit with a FREE Trial when

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