In this podcast episode, host, Julie Herres discusses the challenges faced by therapy practice owners. Topics covered include the ongoing trends of low referrals and low conversions in the fall of 2023, difficulty in achieving productivity goals, and the importance of tracking metrics and establishing robust financial systems. Julie goes on to recommend solutions that can improve the financial conditions of therapy private practices, underlining the importance of clarity and accessibility in financial systems while noting the difference between accounts receivable from different practices. The episode also delves into the significance of having an effective billing system for maintaining regular cash flow in a practice.

Highlights:

• 02:11 Challenges Faced by Practice Owners
• 02:55 The Importance of Productivity and Setting Expectations
• 04:39 The Paradox of Earning More by Working Less
• 05:29 The Importance of Tracking Metrics and Systems
• 06:18 The Role of Financial Systems in Your Practice
• 09:54 The Importance of Billing Systems

LINKS & RESOURCES

• GreenOak Accounting - www.GreenOakAccounting.com
• Therapy For Your Money Podcast - www.TherapyForYourMoney.com
• Profit First for Therapists - www.ProfitFirstForTherapists.com
• Profit First Academy - www.ProfitFirstForTherapists.com/Academy

Podcast Production and Show Notes by Course Creation Studio