business aspects of private practice

Report
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
• [email protected]
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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 [email protected]
CatherinePagano.com
Private Practice
for New Professionals
Keep in touch!
Reid Stell, LMHC
2 0 6 457-3038 [email protected]
ReidStellCounseling.com
Private Practice
for New Professionals
Download this Powerpoint...
And get all the links!
Go to :
ReidStellCounseling.com/Articles.html

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