The Modern Therapist's Survival Guide with Curt Widhalm and Katie Vernoy

Recession-Proofing Your Practice

Listen Later

Curt and Katie talk about how to prepare for economic uncertainty as one of the ripple effects from COVID-19. We talk about practical suggestions of what you can do now to weather a recession as well as continue forward with the practice you’d like to build.        

It’s time to reimagine therapy and what it means to be a therapist. To support you as a whole person and a therapist, your hosts, Curt Widhalm and Katie Vernoy talk about how to approach the role of therapist in the modern age.

In this episode we talk about:

  • The economic uncertainty as a ripple effect from COVID-19
  • Looking at the research after the Great Recession
  • The importance of self-assessment and business-assessment, being thoughtful about the decisions you make about your business
  • Moving beyond scrambling to telehealth into changes you want to incorporate longer-term
  • How to prepare for a changing world
  • How critical cash flow can be during these times
  • Tightening your financial practices (e.g., timely invoicing and charging credit cards, billing insurance, collecting copays)
  • Focusing on profit, not growing your business
  • Looking at your numbers (revenue, expenses, profit)
  • How to be agile without taking on too much risk
  • Understanding what you do that is the highest value offering (highest profit margin) and do more of that – maximizing your most profitable services
  • Pay off and minimize debt, cutting costs to improve financial position
  • Setting yourself with a rainy-day fund
  • Navigating to weather uncertainty
  • Exploring different business models that are focused on need versus luxury
  • Being intentional with how you adjust offerings and how you are flexible in your practice
  • Therapists’ requirement to manage their own needs (in therapy or otherwise) to sustain their therapy practice – clients need guidance and feel like they are getting what they are paying for
  • Pay attention to your numbers to continue monitoring what you need to do
  • The importance of the customer experience and maintaining your current clients
  • Communicating clearly with your clients and prospects
  • How to increase the quality of your offerings to sustain current clients and get new ones
  • Plan for the long-term of your practice
    • ...more
    View all episodesView all episodes
    Download on the App Store
    The Modern Therapist's Survival Guide with Curt Widhalm and Katie VernoyBy Curt Widhalm, LMFT and Katie Vernoy, LMFT
    • 4.3
    • 4.3
    • 4.3
    • 4.3
    • 4.3

    4.3

    237 ratings

    More shows like The Modern Therapist's Survival Guide with Curt Widhalm and Katie Vernoy

    View all
    The One You Feed by Eric Zimmer

    The One You Feed

    2,554 Listeners

    The Trauma Therapist by Guy Crawford Macpherson

    The Trauma Therapist

    542 Listeners

    Psychology In Seattle Podcast by Kirk Honda

    Psychology In Seattle Podcast

    1,136 Listeners

    Therapy Chat by Laura Reagan, LCSW-C

    Therapy Chat

    674 Listeners

    Being Well with Forrest Hanson and Dr. Rick Hanson by Rick Hanson, Ph.D., Forrest Hanson

    Being Well with Forrest Hanson and Dr. Rick Hanson

    2,501 Listeners

    Therapist Uncensored Podcast by Sue Marriott LCSW, CGP & Ann Kelley PhD

    Therapist Uncensored Podcast

    1,386 Listeners

    The Couples Therapist Couch by Shane Birkel

    The Couples Therapist Couch

    276 Listeners

    Psychiatry & Psychotherapy Podcast by David Puder, M.D.

    Psychiatry & Psychotherapy Podcast

    1,347 Listeners

    Light Up The Couch by Clearly Clinical

    Light Up The Couch

    326 Listeners

    The One Inside: An Internal Family Systems (IFS) podcast by Tammy Sollenberger

    The One Inside: An Internal Family Systems (IFS) podcast

    286 Listeners

    Back from the Abyss: Psychiatry in Stories by Craig Heacock MD

    Back from the Abyss: Psychiatry in Stories

    472 Listeners

    IFS Talks by Aníbal Henriques, Tisha Shull & Alexia Rothman

    IFS Talks

    191 Listeners

    Therapy in a Nutshell by Therapy in a Nutshell -Emma McAdam

    Therapy in a Nutshell

    581 Listeners

    Dear Therapists with Lori Gottlieb and Guy Winch by iHeartPodcasts

    Dear Therapists with Lori Gottlieb and Guy Winch

    2,362 Listeners

    Trauma Rewired by Elisabeth Kristof & Jennifer Wallace

    Trauma Rewired

    345 Listeners