Business Articles

Would Your Practice Survive An Employment Tax Audit? (1099 vs. W-2 part 2)

Friday, May 3rd, 2013

Tax Calculator and Pen

Does the state tax commission really take the time to audit small private practices? I didn’t think so, until my practice was selected for an audit.
A few years ago my clinic was selected for an employment tax audit. Lucky me, right? When the auditor walked into my office suite and saw many offices with different names on the doors, he looked at me pleadingly and said, “Please, please don’t tell me that these therapists are all classified as 1099 contractors.”

The Difference Between Hiring Therapists As 1099 vs. W-2 (part 1)

Thursday, March 28th, 2013

We're now hiring!

Should you hire additional therapists for your practice as 1099 or W-2 employees? I’ll walk you through the decision process in this blog series so you can make an informed decision.

If your private practice is thriving and you are considering hiring additional therapists, one of the major questions is how to structure the employment relationship. Should you hire additional therapists as a 1099 contractor or W-2 employee?

In my private practice consulting experience and based on recent discussions in my Private Practice Toolbox Group it seems that most private practice therapists favor hiring therapists as 1099 contractors. When I ask why I often hear something like, “I hire 1099′s because then I’m not responsible to pay the therapists employment taxes and it provides some cushion against legal responsibility for the acts of therapists providing contract services.” While these statements are true, there is a lot more to consider when structuring the employment relationship and misclassification can be a costly mistake.

5 Steps To Transforming Your Practice Into A Thriving Business

Friday, February 15th, 2013

canstockphoto0978397

Guest post by Edita Atteck

I believe I know who you are. You are here to be of service to others and you want to create a thriving business. You want to get client referrals, retain existing clients, and you don’t want to live from paycheck to paycheck.  You want to have a good reputation and earn client’s trust.

I know first hand how starting a business is a challenge. I’ve been there and I fully respect your feelings. I left my corporate career to pursue my passion and committed to turning it into a business helping one person at a time. And I am here today to share with you six steps I believe can help guide you to building a practice that will help you and your business to thrive.

The $12,000 Mistake Many Therapists Make

Monday, January 28th, 2013

Puff Daddy George, 2/2 Ending sessions on time or charging more for extended sessions not only models good boundaries, it’s good for your business.

What’s the big deal about giving a few extra minutes to your clients? After all, we are in this field to help others and we are generous souls by nature, right? Yes, we are. However, an on-going pattern of giving away a few minutes each session adds up over a year’s time.

Let’s say you see 10 clients for 50 minute sessions per week= 500 minutes. If you go over 10 minutes with each client you’re doing 600 minutes of therapy and only being paid for 500 minutes. That means you’re giving away 100 minutes of therapy every week. After one year of giving away 100 minutes every week you are giving away 5200 minutes of free therapy. 5200 minutes is the equivalent of 104 free 50 minute sessions every year. If you charge $115 per session your practice is giving away $11, 960 of free therapy a year!

6 Reasons You Don’t Have Enough Clients

Monday, January 28th, 2013

New living room 1

Getting and keeping clients is a common struggle for private practitioners. Here are 6 potential barriers to a full practice and what to do about them.

1) You’re not keeping the clients you have

It takes a lot less time, money, and energy to keep a client engaged in meaningful therapy than to find a new client. Keeping clients engaged in the therapeutic process requires additional skills. New skills might include setting expectations during the initial session that therapy is an on-going process. Recommend  that new clients schedule ahead 3-6 weeks (depending on your assessment of their need during the first session) instead of scheduling one week at a time.

Evolution Of A Private Practice

Tuesday, December 11th, 2012
This year marks my 10th year in private practice and I’ve spent a lot of time reflecting on and blogging about what’s contributed to the growth and longevity of my practice. As I started creating a timeline chronicling the evolution of my practice, it became clear that the growth of my private practice coincides with my online presence building efforts. I don’t think it’s an accident that when I began actively seeking media interviews, blogging, and building my social networks that my practice experienced tremendous growth.

5 Elements Of An Effective Practice Website

Monday, November 19th, 2012

An effective website is key to building a thriving private practice in the digital age.

According to Pew Research, 80% of internet users look online for health information, making it the third most popular online pursuit following email and using a search engine. Additionally, 44% of internet users look online for information about doctors or other health professionals.

Since the majority of people are looking for your services online, your website is the heart of your professional web presence. All other online efforts should focus primarily on directing potential clients to your website where they will get to know who you are and how you can help them. Your website is your first impression, your “billboard”, and your best chance to build trust with potential clients. I suggest these 5 C’s when building your private practice website.

4 Reasons To Start Creating Content Online

Friday, November 16th, 2012

Fast Hands

Creating consistent online content can help grow your practice faster than almost any other marketing or networking activity

According to PCMag.com digital content creation is “The development of newsworthy, educational and entertainment material for distribution over the Internet or other electronic media.” It falls under the umbrella of content marketing which is a narrative form of sharing information that speaks to a potential client’s need while sharing who you are and the benefits of what you do. Content creation is a way of building trust online and with potential clients by being a valuable resource without asking for anything in return.

Consistently creating compelling and relevant content is the primary reason my private practice has continued to grow in spite of the economic downturn of recent years. Not only has my clinic grown, but since I started regularly blogging, writing, producing videos, and doing media interviews amazing opportunities have come my way. Publishing offers, national media interviews, conference invitations, consulting business, and over 25,000 social followers across multiple social networks are just a few of the incredible doors that have opened to me since I started focusing on content creation.

Why Conventional Media Still Matters

Thursday, November 8th, 2012

I spill my practice building media tips in new issue of TILT Magazine

One of my favorite therapists to follow on Twitter is DeeAnna Nagel, co-founder of the Online Therapy Institute. She and co-founder Kate Anthony are well-known online therapy innovators and experts. A few months ago I was delighted when DeAnna invited to submit a feature article for their November Issue of TILT Magazine (Therapeutic Innovations In Light Of Technology) on the benefits of conventional media for practice building. Regular media interviews fave been a big factor in the continued growth of my practice Wasatch Family Therapy during an economic downturn. Here’s a snippet from the article…

3 Things Google Analytics Can Teach You About Your Private Practice

Thursday, October 11th, 2012

Guest post by Liz Lockard, a self-confessed Google Analytics geek who loves helping small businesses get more out of their marketing data.

Do you have a website for your private practice? If so, you can’t pass up the best free marketing insights tool for your business – Google Analytics.

If you don’t already have it installed, go do that first (check out my mini Google Analytics setup tutorial for that).

Sure Google Analytics can tell me about my website, you say, but what can it tell me about my practice?

 

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