Sign up to save your podcasts
Or
Share Episode 96: Setting Cash Pay Rates & Adding Benefits to Your Practice (with Whitney Owens)
Share to email
Share to Facebook
Share to X
Share to email
Share to Facebook
Share to X
Or
Episode 96: Setting Cash Pay Rates & Adding Benefits to Your Practice (with Whitney Owens)
Setting cash pay rates can be tricky! You want to make sure you're offering a competitive rate in your area and still honor your time and skill set as a therapist. Another key thing to consider... as your private practices grows and your team begins to expand, you may find yourself contemplating the different options of compensation you can offer! Bonuses, PTO, health insurance, and retirement plans are all great options, but it may be challenging to know when you can afford to implement these options. Today, Julie's joined by Whitney Owens to talk about the different changes your practice will go through when setting cash pay rates and adding benefits for your team members.
Whitney Owens is a Licensed Professional Counselor and Private Practice Consultant in Savannah, Georgia. In addition to running her practice, she offers individual and group consulting through Practice of the Practice. She is also the host of The Wise Practice podcast and the Faith in Practice podcast! Whitney places a special emphasis on helping clinicians start and grow faith-based practices.
If you're interested in schedule a consultation with GreenOak Accounting, click here!
Pre-order your copy of Profit First For Therapists by clicking here!
EPISODE HIGHLIGHTS
- Let's set your cash-pay rate
- Start by checking the rates in your area! You want to keep your rate competitive with other cash pay practices near you
- Don't sell yourself short! If you offer a specialty or are consistently overbooking your schedule, it may be time for a rate increase
- How do you recommend raising your rates?
- Communication with your clients is key!
- Always lay out the rate increase in a letter for your existing clients
- Be willing to work with your clients that may struggle financially
- What are some benefits you may offer your team over time?
- PTO & sick-leave
- Annual bonuses
- Health insurance
- Retirement options
LINKS & RESOURCES
GreenOak Accounting - www.GreenOakAccounting.com
Therapy For Your Money Podcast - www.TherapyForYourMoney.com
Profit First for Therapists - www.ProfitFirstForTherapists.com
Whitney Owens - www.WhitneyOwens.com
The Wise Practice Podcast
Wise Practice Summit 2023
Rate Increase Letter Example
View all episodes
By Julie Herres
4.9
4949 ratings
Setting cash pay rates can be tricky! You want to make sure you're offering a competitive rate in your area and still honor your time and skill set as a therapist. Another key thing to consider... as your private practices grows and your team begins to expand, you may find yourself contemplating the different options of compensation you can offer! Bonuses, PTO, health insurance, and retirement plans are all great options, but it may be challenging to know when you can afford to implement these options. Today, Julie's joined by Whitney Owens to talk about the different changes your practice will go through when setting cash pay rates and adding benefits for your team members.
Whitney Owens is a Licensed Professional Counselor and Private Practice Consultant in Savannah, Georgia. In addition to running her practice, she offers individual and group consulting through Practice of the Practice. She is also the host of The Wise Practice podcast and the Faith in Practice podcast! Whitney places a special emphasis on helping clinicians start and grow faith-based practices.
If you're interested in schedule a consultation with GreenOak Accounting, click here!
Pre-order your copy of Profit First For Therapists by clicking here!
EPISODE HIGHLIGHTS
- Let's set your cash-pay rate
- Start by checking the rates in your area! You want to keep your rate competitive with other cash pay practices near you
- Don't sell yourself short! If you offer a specialty or are consistently overbooking your schedule, it may be time for a rate increase
- How do you recommend raising your rates?
- Communication with your clients is key!
- Always lay out the rate increase in a letter for your existing clients
- Be willing to work with your clients that may struggle financially
- What are some benefits you may offer your team over time?
- PTO & sick-leave
- Annual bonuses
- Health insurance
- Retirement options
LINKS & RESOURCES
GreenOak Accounting - www.GreenOakAccounting.com
Therapy For Your Money Podcast - www.TherapyForYourMoney.com
Profit First for Therapists - www.ProfitFirstForTherapists.com
Whitney Owens - www.WhitneyOwens.com
The Wise Practice Podcast
Wise Practice Summit 2023
Rate Increase Letter Example
More shows like Therapy For Your Money
View all
The Practice of the Practice Podcast | Where Modern Psychology Meets the Business of Therapy
334 Listeners
The StoryBrand Podcast
1,936 Listeners
The Rachel Hollis Podcast
16,672 Listeners
The Group Practice Exchange
90 Listeners
The Modern Therapist's Survival Guide with Curt Widhalm and Katie Vernoy
240 Listeners
Light Up The Couch
332 Listeners
Productive Therapist Podcast
30 Listeners
Practice of the Practice: Grow a Group Practice Podcast
39 Listeners
Financial Feminist
6,392 Listeners
Money For Couples with Ramit Sethi
3,395 Listeners
Money Skills For Therapists
82 Listeners
The Mel Robbins Podcast
20,420 Listeners
The Business Savvy Therapist: Marketing, Hiring & Systems to Grow and Scale Your Therapy Practice
73 Listeners
Dare to Lead with Brené Brown
321 Listeners
Wise Practice Podcast
64 Listeners