(#252) 3 Tips For RAISING Your Rates In Your Therapy Private Practice

Therapists often find it hard to define the increase in their fees when there are a lot of factors to consider, such as the costs of running a business. If you're a private practitioner trying to figure out how to increase rates for therapy clients, then this episode is for you.

Tune in as I share three practical tips you can use to raise your rates in your private practice. You'll learn what areas to evaluate and how you can approach those areas to know how much of an increase is reasonable for you.

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Timestamps:

  • Evaluate your current average hourly rate (02:05)
  • Look at the industry norm in terms of treatment modalities, location, and licensure status (04:28)
  • Consider how inflation may affect your business expenses (07:13)
  • What’s in the free 60-Day Prosperous Private Practice Bootcamp for therapists? (09:21)

  

Standout Quotes:

  • "You do want to evaluate the current average hourly rate with therapists that... are in the industry norm for the niche, modality of treatment, what geographical location they are in..., and then also, potentially, the licensure status..." (06:03) 
  • "It doesn't mean that your prices should devalue your expertise, but you do want to just understand that inflation does play a role in how clients can pay for private pay services.... You also want to understand how inflation plays a role in you having an office where your lease expires and it goes up 3%..., or maybe the systems that you use in your business may go up..." (07:18)
  • "The bigger portion is, how much money do you want to make per hour? What clientele can help you reach that price point, but that you're also in love with serving? If you go off of your mission and your purpose, the clients will follow. But you’ve got to show up consistently..., market to those clients..., know who those clients are, and you have to show up to be able to solve their problem...." (08:37)

 

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