Starting a therapy practice comes with its own set of challenges. Expanding from a solo to a group practice adds a whole new layer of complexity.

Dr. Jennifer Contarino Panning, founder of Mindful Psychology Associates, shares her experience with host Michael Fulwiler, detailing her journey from a newly licensed clinical psychologist to the owner of a thriving group practice in Evanston, Illinois. 

Dr. Panning discusses the hurdles she encountered, from navigating the financial aspects of running a business to the challenges of expanding her practice during the COVID-19 pandemic. 

She also reflects on the importance of building a strong referral network and the unexpected lessons learned along the way.

Discover how Dr. Panning balanced her role as a therapist with the demands of managing a growing business, and learn valuable insights for anyone looking to expand their own practice or explore new avenues within the mental health field.

In the conversation, they discuss:

• The unexpected challenges Dr. Panning encountered while transitioning from a solo therapist to a group practice owner, including the steep learning curve and balancing the demands of managing both a business and a clinical caseload
• The strategies Dr. Panning used to build her practice and grow her caseload, focusing on the importance of genuine connections and maintaining strong referral relationships with local universities and fellow professionals
• How Dr. Panning navigated the financial aspects of her practice, from setting her initial fees to overcoming financial hurdles, and eventually hiring an accountant to take charge of the business side so she could focus on her passion for therapy

Connect with the guest:

• Visit her website: https://www.evanstonpsychologists.com/
• Dr. Panning on X: https://x.com/jenniferpanning
• Dr. Panning on LinkedIn: https://www.linkedin.com/in/jennifer-contarino-panning-psyd-7655172/

Connect with Michael and Heard:

• Michael’s LinkedIn: https://www.linkedin.com/in/michaelfulwiler/
• Newsletter: https://www.joinheard.com/newsletter 
• Book a free consult: https://www.joinheard.com/welcome-form 

Jump into the conversation:

[00:00] Introduction to Heard Business School with guest, Dr. Jennifer Contarino Panning

[02:37] How Dr. Panning started her private practice in Evanston

[04:19] Building a client base through university referrals

[12:06] The challenges of expanding from solo to group practice

[22:31] Managing finances and working with insurance

[23:59] Dealing with seasonal fluctuations in client demand

[27:06] The importance of marketing and networking post-COVID

[48:27] Dr. Panning’s experience with the Goldman Sachs 10,000 Small Businesses program

[52:18] Exploring additional income streams in private practice

[55:20] Closing

This episode is to be used for informational purposes only and does not constitute legal, business, or tax advice. Each person should consult their own attorney, business advisor, or tax advisor with respect to matters referenced in this episode.