Tips for Recruiting Psychologists to Your Private Practice
At K&W we spend a large amount of our time helping psychologists to grow their private practice – growing their revenue, their teams and their overall profitability and efficiency. A topic that is often discussed is how difficult psychology practice owners find it to recruit additional practitioners. I think it is fair to say that around once a week we hear a psychology practice owner say some variation of “recruitment is so hard” or “it’s so difficult to find a contractor”. I imagine if you…
Oops, I have to charge you a gap fee again: How to manage the co-payment reversal
It has been announced that co-payment billing practices for psychologists is returning starting today, Monday 6 April. This is following the news made just last week that psychologists across Australia were required to bulk bill all telehealth sessions effective 30 March April. Unsurprisingly, this wasn’t well received by the psychologist community. And in just a week, this decision has been reverted, allowing psychologists to return to their usual billing practices, except for the clients who meet the mandatory bulk billing criteria: a person who is…
How Private Practice Psychologists Can Survive Whole Community Telehealth Bulk Billing
UPDATE: Effective 6 April 2020, psychologists can return to their usual co-payment billing practices except for clients who meet the mandatory bulk billing criteria. Read more about that here, and access a list of the updated MBS factsheets here. After much speculation about what psychologists might expect in relation to Whole of Community Telehealth, today we have a clearer understanding of what that looks like. The MBS fact sheet, effective today, details these important changes and I imagine many of you have woken this morning…
What’s Your Private Practice Critical Response Plan?
Due to the fast-paced updates and changes to policies regarding COVID-19, this article may include some outdated information. For more recent information, please visit our COVID-19 support and resources page. Alright, so it’s possible the title of this article is a little on the dramatic side. But let’s face it, the COVID-19 pandemic has left us all in a situation where we need to work out a critical response plan. Whether you are planning to continue operating your practice in a face-to-face environment (still an…
Managing Your Private Practice Through the Coronavirus Crisis
Due to the fast-paced updates and changes to policies regarding COVID-19, this article may include some outdated information. For more recent information, please visit our COVID-19 support and resources page. With the coronavirus (COVID-19) being declared a pandemic since the 11th of March 2020, concerns and even panic around the virus are sweeping across the world. In addition to the health consequences, the virus and the responses surrounding it are affecting small and big businesses all over the country and world, following recommendations of social…
22 Instagram Accounts to Follow if You’re a Private Practice Psychologist
As a private practice psychologist, it can often be a challenge to keep your social media accounts up to date with fresh content that your followers will love. Fortunately, there is no shortage of great accounts on Instagram to inspire you. From doodles and comics about mental health topics like depression, anxiety and body image issues, to the account owner’s own mental health journey, there are plenty of engaging posts that can help you to: Get inspired to come up with your own post ideas,…
6 Simple Reception Mistakes That Hurt Your Private Practice
When running a private practice there are countless business processes that you can measure, tweak and manage in order to improve your productivity and bottom line. Most private practice owners start this at the advertising/marketing level, ensuring that they have incoming business. And most private practice owners also … stop there, too. Reception is the first main point of contact for clients The reality is, once you have new enquiries and potential clients coming to your practice, there is a whole other side of…
The Practice Lab Update: January – February 2020
So much has happened at The Practice Lab, starting with the introduction of our new online courses and challenges, and the paid memberships to let you access all of our fresh content. Find out more about the updates!
What Private Practice Owners Need to Know About Cash Flow
So, you have just completed your cash flow review and you’re wondering what to do next. First, we suggest you avoid the temptation to fix yourself a strong drink (although we can also understand that you might well feel an overwhelming urge to do so). We are going to briefly explore here what to do with your cash flow once you have completed it. But before we work out how to use it, we should discuss exactly what a cash flow statement is and how…
The Practice Lab Update: June 2019
The winter months are generally a very busy time for private practices in Australia. Not only that, June is an important month for businesses as they review the financial year gone by, in preparation for the new financial year. How did you kick off the busy season last month?
6 Signs You Need to Change Your Private Practice Business Attitude
For most private practice owners that work in their practice, the divide between the clinical and business work can be extremely difficult to balance. In our experience, about a third of the private practice owners that we’ve worked with consider the clinical part of their role to be their “main job”, while the business side is just a necessary responsibility.
Everything You Need to Prepare Your Private Practice for the New Financial Year
It’s already mid-June, and that means business planning time! This time of the year is an exciting time for private practice owners: You get to evaluate the financial year gone past and plan for the great year ahead! And if you’re not one of those people that love to plan and review? Well, this is your lucky day because we do!