In this episode, David Hall joins to speak about making the transition from private practice to group practice. First, think about if you'll add employees or independent contractors to your practice. Then, decide how you will pay them; there are many different structures to set this up. However, you need to know the financial side of your practice before you start paying others. Stay tuned as we talk about keeping it simple and the reasons why you may want to think twice before starting a group practice. Lastly, catch our free live webinar on September 25th: Solo To Group Practice.

Meet David Hall

Dr. Stephen "David" Hall heads up content and creative direction as the "Chief Maven" of PsychMaven. He began his work as a psychotherapist in 2005, and he currently holds clinical licenses in Family Therapy and Mental Health Counseling. He has built up multiple counseling practices in his years as a clinician, first in Georgia and then in his home state of Tennessee. In 2015, he led the start-up of an independent psychiatry clinic, Haven Family Psychiatry, in Knoxville, TN. Dr. Hall maintains a psychotherapy caseload and supervises postgraduate therapists in the practice he leads in the clinic, Haven Counseling Center at Haven Family Psychiatry.

Transitioning To Group Practice

At one point, you'll realize the only way that you can grow is by doing something different. David realized that he could grow if he brought new people to practice. Do you feel like you can't take on any new clients? Then it could be time to think about starting a group practice. Whether you are thinking about a part-time contractor or bringing on full-time employees, you'll hear about some factors to help you know when the situation and timing are right in our upcoming webinar.

Paying Your Staff

Most people will start with independent contractors when creating their group practice. However, don't try and be too generous when it comes to paying your contractors. Make sure that you are keeping enough for yourself. You don't want to be paying your contractors from your profits. Most therapists didn't get into therapy to make loads of money. Most therapists want to help people. This idea extends to our employees and contractors. You cannot sustain your mission unless there are margins.

Group Practice Can Be Simple

David made things too complicated when starting his group practice. He realized that he could run a simple practice and be more profitable. For David, this was far less stressful. At first, it was super stressful, and he didn't sleep well at night. When he crossed the bridge of realizing how the practice could be, a huge weight was lifted off his shoulders. Now, David can lead a group of therapists and not live in constant stress. Have a vision of why you want to start a group practice. Don't try and do too much. Learn how to delegate and outsource well.

Why You Might Think Twice Before Starting A Group Practice

Sometimes there can be pressure for what you "should" do. That's not true. If you want to start a group practice, then do it. However, don't start a group practice because you think that's what you should be doing. Some people LOVE their private practice. It can be simple with little distractions; maybe it's your sweet spot. If private practice is a paradise for you, you don't need to start a group practice. It doesn't matter if you're introverted or extroverted; group practice can be right or wrong for anyone. Embrace the trueness of who you are.

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David's Resources Sign up for the webinar: Solo to Group Practice: Adding More Therapists to Grow Your Time & Income PsychMaven PsychMaven on Facebook PsychMaven on Instagram PsychMaven on LinkedIn Haven Family Psychiatry Resources Use the promo code "GORDON" to get 2 months of Therapy Notes free. Learn more about GreenOak Accounting Listen to Therapy For Your Money Podcast Solo to Group Practice: Adding More Therapists to Grow Your Time & Income Use my link for 1 Month FREE of Brighter Vision services Brighter Vision Fall Into Cash Event Sign up for Killin'It Camp – October 5-7, 2020 G Suite for Therapists | The E-Course Session Note Helper 3.0 Money Matters in Private Practice | The Course Join the G-Suite for Therapists Users Group Cool Resources Follow @TPOTpodcast on Instagram Meet Gordon Brewer, MEd, LMFT

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