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!
The Practice Lab Update: May 2019
As you might have noticed already, May has been a busy month for the team at The Practice Lab. From blogs to knowledge base resources, it was a content-packed month, giving you the private practice resources you’re after! As it’s coming up to the End of Financial Year, it’s important to look out for helpful tips and tools to plan for your private practice into the next financial year.
How Much is Your Business Worth? 5 Methods to Value Your Private Practice
Every business has a dollar value and a question we often get from our clients is “how do I work out what my business is worth?” The reason for the question varies of course. Some private practice owners may be considering selling, while others want to determine the value as part of their overall asset valuing exercise. Whatever the reason for determining the value of your practice, this can be a complex exercise. Hopefully, this blog will help give you some ideas of the most…
9 Common Misconceptions about Private Practice
Over the last few years, Al and I (Kong & Way) have worked with countless private practice owners (mainly psychologists), ranging from startups, well-established practice owners, and those considering the private practice journey. Whatever stage of the journey they are on, there is one consistent comment that keeps coming up – “Private practice is not how I expected it to be.” Sometimes they were amazing and rewarding surprises and other times they’ve been downright motivation-crushing experiences. These misconceptions about private practice can have several consequences:…
Making Tough Decisions in Your Private Practice
There’s an old story that in pursuit of a pen that would work for keeping notes during space missions, the Americans spent millions of dollars to invent just such an item. It worked and was a brilliantly created pen that served its purpose. The Russians, on the other hand, came up with a different solution. If you follow this article through to the end, you’ll find out what that was. Making tough decisions in private practice is essentially the same as making them in any…
Are your FAQs Helpful? 24 Questions You Should Answer for Your Psychology Practice
A list of frequently asked questions (FAQs) and answers is a commonly used tactic to help potential clients find out more information about an allied health service or a specific practice, before they commit to making an appointment.
Migrating Practice Management Software Successfully: Intro
Practice Management Software (PMS) is a must-have the of the modern healthcare clinic.Regardless of whether a clinic is moving from the traditional paper-based client notes to a PMS or changing the PMS, they use; like any technology change these changes can come with some trepidation, flashbacks to Y2K and some good ol’ technophobe fear.
Migrating Practice Management Software Successfully: Part 1
Before you begin transferring data, take some time to determine exactly what data to transfer and what systems it affects. Have you developed a map of the data types to be migrated?
Migrating Practice Management Software Successfully: Part 2
Your next step in the planning process is to figure out how to transfer data. Test your hypotheses early and often during this stage. Corruption and loss of data are two of the biggest risks in any migration project.