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Private Practice for New Professionals

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

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Private Practice for New Professionals

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  1. Private Practicefor New Professionals Business aspects of private practice Catherine Pagano, LICSW, MSW Reid Stell, LMHC City University of Seattle October 17, 2014

  2. Business Aspects of Private Practice • Setting up a business and office • Billing and record keeping • Finances • Insurance panels • Malpractice insurance • Tax implications • Forms

  3. Business Aspects of Private Practice • Setting up a business and office • Billing and record keeping • Finances • Insurance panels • Malpractice insurance • Tax implications • Forms

  4. Setting Up a Business Office • Business entity options • 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

  5. Setting Up a Business Office • Web hosting service (such as GoDaddy.com) • Domain name (URL) • Site hosting • Website creation and maintenance • Do it yourself • 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

  6. Setting Up a Business Office • Directories • Psychology Today Directory: 6 months free for AMHCA members! • Your specialties • Your profile • Find office space • GoodTherapy.org: Check it out • Your specialties • Your profile • CEU offerings

  7. 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"

  8. 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 • Networking • Advocacy • Continuing education • Professional development • Fulfilling your ethical responsibility to the field

  9. Setting Up a Business Office • Office space • Join with a colleague • Join with a medical professional • Share space (Craigslist) • Find a group • ABLE Counseling Services • Accord Associates • $65/month: In Redmond • Public library

  10. Business Aspects of Private Practice • Setting up a business and office • Billing and record keeping • Finances • Insurance panels • Malpractice insurance • Tax implications • Forms

  11. Billing and Record Keeping • Paper records (2 locks) • Encrypted word processor document • Encrypted spreadsheet • Calendar • Paper • Phone/online • Online appointment service: Square Appointments

  12. Billing and Record Keeping • Electronic records • Scheduling • Submitting claims to insurance companies • Your NPI Number: Apply • Manually • Using a billing service • Office Ally: Check it out • Another EHR provider: KASA Solutions • And another: TherapySites

  13. 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): StrömConsulting

  14. Business Aspects of Private Practice • Setting up a business and office • Billing and record keeping • Finances • Insurance panels • Malpractice insurance • Tax implications • Forms

  15. Finances • Budgeting • Banking • Accounts • Cash, check, card, and EFT • Merchant services: Stripe.com • Borrowing money • High vs. low overhead

  16. Finances • Fee structure • Services and fees • Sliding scale • Pro bono • Meet with a Financial Advisor • Ask your colleagues for referrals • Here’s one Reid knows: • Michael S. Avzaradel • Pacific Capital Resource Group, Inc. • Ph: 206-332-7020 Direct: 206-332-7022 • MAvzaradel@PCRG.com

  17. Business Aspects of Private Practice • Setting up a business and office • Billing and record keeping • Finances • Insurance panels • Malpractice insurance • Tax implications • Forms

  18. 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 • Working out of network • Preauthorization • Deductibles

  19. Business Aspects of Private Practice • Setting up a business and office • Billing and record keeping • Finances • Insurance panels • Malpractice insurance • Tax implications • Forms

  20. Malpractice Insurance • Update your liability insurance • CPH & Associates (discount through WMHCA): Site • Umbrella policy • Legal expenses rider • HIPAA/HITECH rider

  21. Business Aspects of Private Practice • Setting up a business and office • Billing and record keeping • Finances • Insurance panels • Malpractice insurance • Tax implications • Forms

  22. Tax Implications • Corporation vs. sole proprietorship • Your accountant/bookkeeper • Revenues • Expenses

  23. Business Aspects of Private Practice • Setting up a business and office • Billing and record keeping • Finances • Insurance panels • Malpractice insurance • Tax implications • Forms

  24. 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

  25. 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 • Videos • 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

  26. Private Practicefor New Professionals Keep in touch! Catherine Pagano, LICSW, MSW 206 407-7054 kipano@gmail.com CatherinePagano.com

  27. Private Practicefor New Professionals Keep in touch! Reid Stell, LMHC 206 457-3038 ReidStellCounseling@gmail.com ReidStellCounseling.com

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