Today I’d like to share an interview about starting a cash practice with Karen Litzy for her podcast Healthy, Wealthy and Smart. Karen and I had a lively conversation about starting and growing a therapy practice in today’s ever-changing healthcare ecosystem. We cover a variety of issues that private practice owners face when wanting to go into business for themselves.
We delve into the 6 essential steps that I believe every therapist should take if they want to launch their own practice with the least amount of risk and money. We discuss my new Cash Practice From Scratch Course that’s launching on January 3rd, 2017 for therapists who want to start a private practice.
In this episode, we discuss:
- How to build an entrepreneur mindset and achieve professional freedom
- How to align your strengths with your ideal client base
- Why crafting a memorable patient experience will boost your practice and ultimately the profession
- The six essential steps therapists should take to launch a successful practice
-And so much more!
The following quotes will give you the gist of the lively and fun conversation I had with Karen.
–Paul encourages every therapist to build their own brand and style of care as a way to stay motivated. Paul states, “Every therapist should own their own practice whether in business for themselves or not.”
–Competing in the marketplace comes down to one key factor. Paul stresses, “The therapist that will become a little bit more consumer-focused and step out of the older models, save the best from the previous models and the heritage we have as a profession, and bring that into the new 21stcentury, those are the ones that will survive, do the best job and have the best patient experience.”
–To have a sustainable business in the long term, crafting a memorable patient experience can be an important differentiator. Paul believes, “There is a consumer movement happening where they are taking control of their healthcare dollar.”
–From Paul’s extensive experience, he has discovered that, “Private practice is born out of the community and the more you can share that with accountants, my business friends, my wife, my good friends, those were so key in helping me launch a sustainable career that I still love 35 years later.”
You can listen to the interview on Karen’s podcast website Healthy, Wealthy and Smart. Karen’s podcast is fantastic and has several great interviews with experts in the rehab industry as well as a multitude of thought leaders in business and personal development. I encourage you to subscribe to her podcast on iTunes so you don’t miss an episode.
In the Cash Practice From Scratch episode, we talked about a free resource to help therapists think about starting a cash practice. You can download it here: