How to Start a Private Practice in Acupuncture
So, you’re a therapist considering moving from part-time to full-time private practice—that’s great!
If you’ve already started seeing some clients on the side, and now need help figuring out how to start a full-time private practice, this article can help you make the leap.
There are many advantages to becoming a full-time therapist, however, unforeseen challenges may also arise along the way.
Here are 10 tips for making a smooth transition when moving from a part-time to full-time private practice and how to set up your practice for long-term success.
Marketing efforts
First, let’s talk about marketing. When setting up a private practice, marketing is the basis on which you will build and scale your business.
If your marketing isn’t currently effective—meaning you aren’t generating consistent leads that convert to paying clients—you may need to set a longer transition period for moving from part-time to full-time private practice.
At the end of the day, it’s great that you want to go all-in on your business, but if you aren’t getting clients, then you’ll want to build up your business before going all-in.
Here are a few ways to improve your marketing:
Tip #1: Scale your client base
When you scale your client base, you expand your current clientele.
There are a few ways to do this:
Optimize your current marketing efforts to attract ideal clients
This can be done by implementing search engine optimization (SEO), using social media platforms, mindset marketing, and content marketing.
Build your referral network
Join community groups, associations, and networking groups to gain referrals from other professionals who can help you connect with your ideal client.
Pro-tip: Find a mentor or coach within the field who has a practice that you admire. Offer to buy them lunch and ask them what tips were most helpful for them in building their practice to where it is now. Even better, hire them as a coach and accelerate your growth. This is the difference between studying for the SAT on your own vs. taking a course with an instructor that helps navigate and tailor the process to your unique needs and wants.
Tip #2: Networking and community involvement
Don’t shy away from networking events and community involvement.
Join professional associations
Become active in professional associations to gain credibility and network with peers.
Community engagement
Participate in local events, offer free workshops, and engage in community service to build your reputation and visibility.
Online networking
Use online platforms like Instagram, LinkedIn, and other professional forums to connect with therapists and potential clients. Be sure to pursue online platforms where your ideal client is likely active (which, in some cases, might not be the same platforms you most naturally gravitate to).
Tip #3: Offer more services
Consider adding specialized services to your practice, such as group therapy, workshops, or online therapy. While group offerings may take longer to get off the ground, they can yield a higher return on investment (ROI) on your time.
One mistake that therapists make when moving from a part-time to full-time private practice is avoiding marketing. If you aren’t ready to go all-in on your marketing, then you aren’t ready to be full-time in your private practice.
Tips for financial success
The lifeblood of any business is finances. Often, small business owners prioritize their ideas and desires rather than paying attention to what their financial goals and needs actually are.
Don’t make the mistake of not learning how to listen to your numbers.
Here are a few key areas to pay attention to:
Tip #4: Figure out client load and fee structure
Often, clinicians assume they should be seeing as many clients as their schedule allows—conflating being a full-time private practitioner with having an overflowing caseload. However, full-time means whatever you need it to mean in the season of life you’re in.
For example, if you have young children, you may have fewer workable hours available than someone who is just starting out in their career and doesn’t have children.
And if you are starting a mental health private practice, you also need to ensure you are leaving time for admin work (dreaded notes), breaks for yourself, and finishing your day at a reasonable time so that you’re still as fresh with your last client as you were with your first.
One of the best parts of being a private practice owner is having the flexibility to do it your way.
Here’s how to calculate your client load and fee structure:
First, estimate the number of clients you need to see each week to meet your financial goals. Your goals should include the salary that you need to make in order to maintain your business overhead (rent, your continuing education units, fees for accountants, etc.), and the salary you need to make to cover adequate vacation time, your bills, your lifestyle, and sick time.
Next, consider this in comparison to how many hours you want to work, taking time out of the week for administrative tasks, lunch, etc. All of this will give you the fee you should be charging private pay clients.
Tip #5: Budgeting and financial planning
Initial financial assessment
Determine your current financial situation and project your future expenses and income.
This means sitting down and looking at any debt you may have within your business, as well as future goals you have for your business. Perhaps you’re wanting to get certified in eye movement desensitization and reprocessing (EMDR) therapy. That’s an expense and goes into this assessment. You also want to look at what you’re currently making and what you anticipate making as you build your private practice.
Be sure to take the following into account as you’re planning monthly expenses:
- Rent
- Software
- Utilities
- Marketing
- Insurance
- Professional development
Budgeting tools and financial reports
Use budgeting software or consult with a financial advisor to create a sustainable financial plan. You also want to get used to reading:
- Profit and loss statement
- Cash flow statement
- Accounts receivable
Setting financial goals
Establish clear financial goals for your practice, such as monthly income targets and savings for future growth.
Dream big here. For example, what would your life look like if you were making multiple six figures?
The more readily you can sit and work with your numbers in your business, the more you can learn about how to start a private therapy practice that is healthy and sustainable.
If you’re unsure about any of these areas, consider sitting down with a professional. The investment will yield a high ROI for years to come and will save you a headache later.
Set up effective systems
Efficiency is key to running a healthy business, while also maintaining your emotional health. Automating anything and everything that you can will allow you to have an effective system set up from the get-go.
Tip #6: Administrative efficiency
Use practice management software to automate scheduling, billing, and record-keeping.
You don’t want to short sell yourself or your relationships with clients by forgetting to charge them or accidentally overcharging them. Human error is unavoidable, but there are tools to help you avoid administrative errors that could cost you. That’s why it’s important you choose an electronic health record (EHR) that runs administrative tasks like billing automatically and will notify you if there’s an issue.
Tip #7: Time management
Develop a weekly schedule to maximize client hours while allowing time for administrative tasks and self-care. It’s helpful to put a few clients back-to-back, so you can schedule your breaks between these sessions ahead of time.
It’s tempting to want to help more clients and make a little more money in the process, but this won’t serve you long-term. Blocking out breaks and out-of-office hours can prevent you from blurring boundaries by ignoring your needs. If you run a hybrid practice, you can designate days for telehealth calls and in-office clients to minimize the days in the office and increase productivity.
Tip #8: Outsourcing tasks
Consider hiring a virtual assistant or outsourcing tasks like bookkeeping and marketing.
While hiring help tends to be at the bottom of most clinicians' lists of how to start a private practice, a solid hire will help you earn money and increase your work-life balance tremendously as you navigate how to start a full-time private practice.
Navigating the transition
When it comes to the transition itself into full-time private practice, there are a few areas to focus on:
Tip #9: Informing your employer
Decide when and how to inform your current employer. This is highly individualized based on where you are currently working, the relationship you have with your current employer, and what your risk avoidance and tolerance looks like.
It also depends on what your situation at home looks like. Are you in a dual-income no-kids household? Are you supporting three children on your income? All of these factors will play a role.
Ultimately, play it safe and try to give your boss at least one month's notice. This extended notice will also give you a grace period to determine whether you want to be full-time as you navigate how to start your own private practice. Remember, it’s not for everyone and the transition time varies from person to person.
Tip #10: Planning the transition
Create a detailed timeline for your transition with key milestones and deadlines.
This timeframe is an approximation, and you will get out of this transition what you put into it. The purpose of this plan is to keep all of the steps necessary to build a private practice manageable, rather than overwhelming yourself at the starting line.
Here are a few key milestones to look for, along with a helpful timeframe:
Month 1-2: Initial planning and preparation
- Self-assessment and goal setting
- Financial planning
- Market research
- Business plan development
Month 3-4: Business set up
- Legal and admin set up
- Location and logistics
- Website and online presence
Month 5-6: Marketing and networking
- Branding and marketing materials
- Initial marketing campaigns
- Networking and referrals
- Goal: Gain a minimum of three to five clients
Month 7-8: Client acquisition and service optimization
- Soft launch
- Get feedback from clients
Month 9-10: Intensify marketing efforts
- Financial review and adjustments
- Financial prep for full-time
Month 11: Final prep and notice to employer
- Notice to full-time employer
- Operational finalization
- Client management
Month 12: Full-time practice launch
- Official full-time launch
- Ongoing client acquisition
- Regular financial and performance review
The number of clients you can expect to have gained each month is unique to your area, marketing efforts, and the current market you are working in. You will get out of this process what you put into it.
Your decision to market with insurance panels and your private pay rate will also play a role in the number of clients you see. Focus on the goals to set yourself up for success.
How to start a therapy practice that is set up for success
Figuring out how to start a full-time private practice can be incredibly stressful. It tends to be full of self-doubt and perfectionism. The beauty of business (and what they don’t teach us in grad school) is that we learn by getting out of our heads and just going for it. And even when we fall short, we learn along the way.
Moving from part-time to full-time private practice is a significant step that requires careful planning and execution. By focusing on key areas such as marketing, finances, systems, and the transition process, you can set your practice up for long-term success.
Remember, the journey to a thriving full-time practice is a marathon, not a sprint. Embrace the learning process and enjoy the growth and opportunities that come along the way.
How SimplePractice streamlines running your practice
SimplePractice is HIPAA-compliant practice management software with everything you need to run your practice built into the platform—from booking and scheduling to insurance and client billing.
If you’ve been considering switching to an EHR system, SimplePractice empowers you to streamline appointment bookings, reminders, and rescheduling and simplify the billing and coding process—so you get more time for the things that matter most to you.
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