Episode 146: Quarterly Update: What's on Practice Owners' Minds? Artwork

Therapy For Your Money

Welcome to Therapy for your Money, a podcast about all things money and finance for private practice owners! If you are ready to feel confident and in-control of your financial life, then you are in the right spot. Therapy for our Money is hosted by Julie Herres, the CEO and Founder of GreenOak Accounting. She and her firm specialize in working with private practice owners across the United States, and have assisted hundreds of private practices with increasing their financial stability and profitability. She is on a mission to share her best practices she's learned along the way through her successful career as an accountant, discusses financial topics with a wide variety of guests, and help her listeners make data driven decisions to help their businesses.

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Therapy For Your Money

Episode 146: Quarterly Update: What's on Practice Owners' Minds?

June 14, 2024 • Julie Herres • Season 4 • Episode 146

Navigating Challenges in Therapy Practices: Insights and Strategies

This episode of 'Therapy for Your Money' features host Julie Herres and GreenOak Accounting team manager Jacquie Carter discussing the financial challenges therapy practices faced this quarter. They explore themes of cautiousness among practice owners due to low intakes and referrals, the impact of external factors such as the Change Healthcare incident, and strategies for maintaining financial health, including prudent cash flow management and clinician compensation. The discussion also covers the importance of professional advice in navigating business decisions and thoughts on what the future may hold for the industry, emphasizing the need for caution, preparation, and sustainable growth strategies amidst ongoing economic uncertainties.

Episode Highlights

00:00 Welcome to Therapy for Your Money: Empowering Financial Confidence
00:48 Introducing the Season's Final Episode with Jackie Carter
01:28 Quarter Insights: Navigating Challenges and Embracing Caution
04:24 The Impact of Change Healthcare and Financial Preparedness
07:43 Strategies for the Challenges of Cashflow and Client Intakes
13:14 The Importance of Professional Advice and Sustainable Practices
16:43 Clinician Compensation and Retention in Uncertain Times
23:34 Looking Ahead: Industry Predictions and Final Takeaways

Links and Resources

Therapy Intake Pro
GreenOak Accounting - www.GreenOakAccounting.com
Therapy For Your Money Podcast - www.TherapyForYourMoney.com
Profit First for Therapists - www.ProfitFirstForTherapists.com
Profit First Academy - www.ProfitFirstForTherapists.com/Academy
Podcast Production and Show Notes by Course Creation Studio

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