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Why Great Therapists Stay Stuck Accepting Insurance [episode 110]

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A LOT of incredibly skilled therapists accept insurance. 

But being a great clinician doesn’t automatically mean you know how to build a successful private-pay practice. 

The therapists who are able to transition off insurance panels? They aren’t necessarily “better” therapists.

They’ve simply learned another skill: how to market themselves.

 

 

In today’s episode, I’m talking about why great therapists stay stuck accepting insurance.

I know this all too well, because I’ve been there myself!

Early in my career, I was earning just $45 per session at a group practice. When I eventually went out on my own, I increased my private-pay rate to $250 per session. 

I went on to earn $200k from 1:1 therapy ALONE during my first full year in private practice!

At $250 per session, you could see around 17 clients per week. You’d be working around 46 weeks per year and earn $200K.

But at $125 per session through insurance? You’d need around 35 sessions per week to earn the same amount.

Yes, your rate MATTERS. Not only for your income, but for your time, energy, and ability to show up fully for your clients!

Unfortunately, many great therapists stay stuck accepting insurance due to mindset and strategy. 

There’s guilt around charging premium rates. You’re afraid people are going to judge you, because it seems “wrong” to want to make good money when you’re helping people.

But you know what? Private-pay clients aren’t looking for *any* therapist with availability. They’re looking for someone who feels specifically right for THEM. 

That means your niche, messaging, branding, and client experience ALL matter!

Yes, you are allowed to build a practice that takes care of you financially AND makes a meaningful impact. Private practice isn’t reserved for a few “lucky ones”. It’s possible for you, too!

Give yourself permission to charge what your expertise is WORTH. Learn the marketing skills to back it up, and keep showing up until it works!

In this episode, Why Great Therapists Stay Stuck Accepting Insurance, I cover:

  • Why great therapists can still struggle to build private-pay practices
  • How your session rate impacts income, caseload & sustainability
  • My journey from insurance to a $250 private-pay rate
  • Working through guilt & judgment around charging premium fees
  • 2 things keeping therapists stuck
  • Why private-pay practices require stronger marketing
  • Positioning yourself as the go-to expert for your ideal clients
  • Creating a premium brand + client experience
  • Building a profitable practice that allows you to give back

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More about the Business of Therapy podcast:

Are you a passionate therapist that’s burnt out and ready to transition to private pay? You’re asking yourself questions like “how do I build a business?”, “how can I effectively use Instagram to market myself” and “how can I scale a private practice?”

Welcome to the Business of Therapy podcast where we’ll answer those questions and more! Here you’ll find honest conversations about the good and the bad of being a therapist, tactical advice and best practices for marketing yourself on Instagram, and solidarity and community to find your own version of success as a therapist.

Join your host, Kelly McKenna, and her guests as they dive deeper into topics such as navigating burn out, mastering your mindset and boundaries, and tactics and strategies for marketing on Instagram, and more!

Kelly is a licensed therapist and business coach who grew her private practice on Instagram and has helped thousands of other therapists market themselves on social media, and effectively start and scale their private practice.

These episodes will leave you feeling empowered and equipped to take action towards your dream of a successful private practice.

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