Doubling Your Practice in One Year: A How-To Guide

Building a thriving private practice is an exciting and rewarding endeavor. However, with great growth comes great responsibility. Second quarter taxes are around the corner and many of us are getting calls from our accountant. Usually these calls are not the most pleasant because we hear about all the money we owe. But, the good news is, if you owe more now than last year, your business has grown. Woohoo!!!!!

 Today I got my call. I was not only told I owed money, but that I owed twice what I owed last year! But, remember, this is also good news!

 My practice has grown by 100% since this time last year! 

Yes, my income has doubled in one year just from my private practice revenue! I tell you this not to show off but because I believe each of you can also have great success in your practice. You can have the practice you have always wanted while also making more profit. In fact, I only work about 15 hours a week on the group practice.

Now without further ado, let’s below we will explore my most essential tips to help you take your private practice to new heights!

Create a Positive Practice Culture

The most important part of the work I do is creating the team and investing in each of them. When I talk about investing, it is not just money but time, compassion, and thoughtfulness. One of the biggest money leaks in a group practice is therapist turnover. By nurturing the team, all the good stuff comes: less time hiring, less client turnover, less time training new team members, and team members who love their jobs.

Do Good Clinical Work

The good clinical work keeps the clients coming, not only your current clients but new ones. Foster a warm and welcoming environment, where patients feel comfortable and valued. When clients have a positive experience, they will rave about how you made the world of difference in their lives. I always say the best referral is a personal one.

Delegate

You cannot run your practice alone and expect to grow. You must bring in educated and capable people to help you such as other therapists, administrative help, or possibly hiring another company to do your marketing. I know it may seem challenging to pay other people to do work you could be doing, but I want you to focus more on what work you are missing when you are working on projects someone else could do for you. For example, you could pay someone $20/hour to take calls for 4 hours. If you charge $100/hour to see clients, you will make $400 during the 4 hours that you are paying someone to take calls and paying them $80. 

Raise your Rates

Every year you should be raising your rates. You have grown in your experience, skill set, and deserve to be compensated for your growth. In the same way my hair stylist raises the rates due to her increased ability, so should you. 

Speaking of Referral Networks…

Building and nurturing referral networks with other healthcare professionals, schools, and organizations, such as churches,  can be a game-changer for growing your private practice. Reach out to local physicians, specialists, and therapists who complement your services. Attend medical conferences, networking events, and join professional organizations to meet potential referral partners. Building strong relationships with other professionals can lead to a steady stream of patient referrals.

Answer the Phones Live

When I have run the numbers, I have seen that we lose half our clients when we don't answer the calls live. For example, imagine getting 10 calls a week and missing 6 of those. By the time you call those people back, you have lost 3 of the 6 new clients. If your rate is $100/hour, that is a loss of $1200/month! You have wasted your money marketing if you miss gaining new clients.

 Let’s Talk About the M Word

That’s right, marketing *cue the sound of a howling ghost oooooooo. To attract new patients, invest in targeted marketing strategies. Develop a comprehensive marketing plan that includes a mix of online and offline tactics. Utilize social media advertising, search engine optimization (SEO), pay-per-click (PPC) advertising, and traditional marketing channels like local print publications or radio advertisements. Consider hosting educational webinars, workshops, or participating in community events to showcase your expertise and increase your visibility.

Develop a Strong Brand Identity

Crafting a strong brand identity is essential for establishing your practice's unique personality and values. Create a memorable logo, choose a consistent color palette, and develop a professional website that showcases your expertise and services. Remember to maintain a consistent brand voice across all your marketing materials, whether it's social media posts, brochures, or email newsletters.

Last But Not Least: Enhance Your Online Presence

 In today's digital age, a strong online presence is paramount to the success of any private practice. Create profiles on popular social media platforms like Facebook, Instagram, and LinkedIn to connect with potential patients. Regularly share educational content, success stories, and updates about your practice to engage and build trust with your online community. Don't forget to optimize your website for search engines to improve your visibility in online searches.

Interested in Making Sure You Are on Track?

Implementing ways to track your calls coming into your practice can support your insight into what is going on and why. It allows you to see if your practice's marketing efforts are reaching clients or if some adjustments need to be made. 
At Whitney Owens Consulting, I offer guidance and support when it comes to setting up new tracking methods for your practice. I will also support you in creating an environment where you can grow your practice and know what the data says is going on. Reach out today to get started on the path to a successful practice! Ready to grow?

Schedule a complimentary 45-minute consulting call to discuss your practice and your goals.

Learn more about me and my services.

Grow your practice today!

Implementing new methods into your practice can be overwhelming, especially if you are unsure of what is the best route to take. This is why I offer a range of personalized business coaching services to help you make a plan, execute it and track the results. I offer 3-month and 6-month business consulting packages, Enneagram Training, and a Wise Practice Community Membership. Implement tracking methods for your practice today and reach out to Whitney Owens Consulting if you need help getting started! Get in touch today to learn more.