Private Practice
for New Professionals
BUSINESS ASPECTS OF PRIVATE PRACTICE
Catherine Pagano, LICSW, MSW
Reid Stell, LMHC
City University of Seattle
October 17, 2014
Business Aspects of Private Practice
• Setting up a business and office
• Billing and record keeping
• Finances
• Insurance panels
• Malpractice insurance
• Tax implications
• Forms
Business Aspects of Private Practice
• Setting up a business and office
• Billing and record keeping
• Finances
• Insurance panels
• Malpractice insurance
• Tax implications
• Forms
Setting Up a Business Office
• Business entity options
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Corporation
LLC
PLLC
Sole proprietorship
DBA (fictitious business name)
Consult a lawyer: Free to WMHCA members
Small Business Administration: SBA.gov
• Business license
Washington State: Washington Dept. of Revenue
• City: List of participating cities
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Setting Up a Business Office
• Web hosting service (such as GoDaddy.com)
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Domain name (URL)
Site hosting
• Website creation and maintenance
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Do it yourself
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Weebly.com
Squarespace.com
Wix.com
Web.com
Moonfruit.com
Therapysites.com ($59/mo.): 1 month free for AMHCA members!
Hire a designer
Phone a friend
Setting Up a Business Office
• Directories
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Psychology Today Directory: 6 months free for AMHCA members!
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Your specialties
Your profile
Find office space
GoodTherapy.org: Check it out
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Your specialties
Your profile
CEU offerings
Setting Up a Business Office
• Directories
Open Path Psychotherapy Collective: Sliding Scale Club
• SCA – Seattle Counselors Association: Join here
• Counseling Seattle: To get listed
• WMHCA: "Find a Clinician"
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Setting Up a Business Office
• Your professional association
American Mental Health Counselors Association
• Washington Mental Health Counselors Association
• National Association of Social Workers
• Clinical Social Work Association
• Benefits to you
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Networking
Advocacy
Continuing education
Professional development
Fulfilling your ethical responsibility to the field
Setting Up a Business Office
• Office space
Join with a colleague
• Join with a medical professional
• Share space (Craigslist)
• Find a group
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ABLE Counseling Services
Accord Associates
$65/month: In Redmond
Public library
Business Aspects of Private Practice
• Setting up a business and office
• Billing and record keeping
• Finances
• Insurance panels
• Malpractice insurance
• Tax implications
• Forms
Billing and Record Keeping
• Paper records (2 locks)
• Encrypted word processor document
• Encrypted spreadsheet
• Calendar
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Paper
Phone/online
Online appointment service: Square Appointments
Billing and Record Keeping
• Electronic records
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Scheduling
Submitting claims to insurance companies
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Your NPI Number: Apply
Manually
Using a billing service
Office Ally: Check it out
• Another EHR provider: KASA Solutions
• And another: TherapySites
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Billing and Record Keeping
• Ethics
Professional will: Template
• HIPAA/HITECH risk analysis and safeguards: Checklist
• Policy and procedures manual
• Roy Huggins, LPC, NCC (Portland): Person-Centered Tech
• Eric Ström, JD, LMHCA (Seattle): Ström Consulting
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Business Aspects of Private Practice
• Setting up a business and office
• Billing and record keeping
• Finances
• Insurance panels
• Malpractice insurance
• Tax implications
• Forms
Finances
• Budgeting
• Banking
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Accounts
Cash, check, card, and EFT
• Merchant services: Stripe.com
• Borrowing money
• High vs. low overhead
Finances
• Fee structure
Services and fees
• Sliding scale
• Pro bono
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• Meet with a Financial Advisor
Ask your colleagues for referrals
• Here’s one Reid knows:
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Michael S. Avzaradel
• Pacific Capital Resource Group, Inc.
• Ph: 206-332-7020 Direct: 206-332-7022
• MAvzaradel@PCRG.com
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Business Aspects of Private Practice
• Setting up a business and office
• Billing and record keeping
• Finances
• Insurance panels
• Malpractice insurance
• Tax implications
• Forms
Insurance panels
• Network contracts
Advantages and disadvantages
• Applying to join networks (i.e., getting credentialed)
• CAQH number: Good luck
• OneHealthPort: Check it out
• Medicaid: Provider enrollment
• Thriveworks: Credentialing service
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• Working out of network
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Preauthorization
Deductibles
Business Aspects of Private Practice
• Setting up a business and office
• Billing and record keeping
• Finances
• Insurance panels
• Malpractice insurance
• Tax implications
• Forms
Malpractice Insurance
• Update your liability insurance
• CPH & Associates (discount through WMHCA): Site
• Umbrella policy
• Legal expenses rider
• HIPAA/HITECH rider
Business Aspects of Private Practice
• Setting up a business and office
• Billing and record keeping
• Finances
• Insurance panels
• Malpractice insurance
• Tax implications
• Forms
Tax Implications
• Corporation vs. sole proprietorship
• Your accountant/bookkeeper
• Revenues
• Expenses
Business Aspects of Private Practice
• Setting up a business and office
• Billing and record keeping
• Finances
• Insurance panels
• Malpractice insurance
• Tax implications
• Forms
Forms
• Confidential Client Intake Information
• Disclosure Statement
• Client Rights and Authorization for Treatment (Informed Consent)
• Financial Policy and Fees
• NPP: Notice of Privacy Practices (HIPAA/HITECH)
• ROI (Release of Information)
• Sources of forms
Therapist Private Practice site: Free samples from Anna Deeds, LPC
• Reid’s forms: Take what you want
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Resources
• Books
Getting Started in Private Practice: The complete Guide to Building Your
Mental Health Practice, Chris E. Stout and Laurie Cope Grand: Amazon
• Getting Better at Private Practice, Chris E. Stout: Amazon
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• Videos
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Dr. Larry Waldman, Ph.D. talks about private practice for mental health
therapist: Youtube
The advantages of having your own private practice in mental health...:
Youtube
2013 CPT Codes: How They Effect Counselors and Psychologists: Youtube
Private Practice
for New Professionals
Keep in touch!
Catherine Pagano, LICSW, MSW
2 0 6 407-7054 kipano@gmail.com
CatherinePagano.com
Private Practice
for New Professionals
Keep in touch!
Reid Stell, LMHC
2 0 6 457-3038 ReidStellCounseling@gmail.com
ReidStellCounseling.com
Private Practice
for New Professionals
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