Episode 172: Tips to Predict Income & Increase Take-Home Pay in Private Practice 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 172: Tips to Predict Income & Increase Take-Home Pay in Private Practice

March 21, 2025 • Season 5 • Episode 172

Maximizing Income in Private Therapy Practice

In this episode of Therapy for Your Money, host Julie Herres shares valuable tips on how therapists in private practice can predict their income and maximize their take-home pay. Julie explores three controllable factors in a practice: the number of sessions, the rate per session, and the percentage of income retained.

By understanding personal capacity, examining historical data, and accounting for yearly variability, Julie provides concrete steps for financial planning. Additionally, she offers insights into the expected profit margins for various practice sizes and the potential impact of strategic decisions on overall profitability. Julie concludes by introducing a KPI tracker to help therapists manage their finances effectively.

Show Highlights
00:00 Introduction to Therapy for Your Money

00:46 Today's Topic: Predicting Income and Maximizing Take-Home Pay

02:51 Understanding the Three Main Levers

04:12 Lever 1: Number of Sessions

06:47 Lever 2: Session Rates

15:48 Lever 3: Income Percentage

23:20 Using the KPI Tracker

27:19 Conclusion and Final Thoughts

Links and Resources
KPI Tracker and Calculator: https://calculator.greenoakaccounting.com

Money for Therapists Practice Startup - https://www.greenoakaccounting.com/startup

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

Get our free KPI tracker to see how you practice measures up to others in the industry!
www.therapyforyourmoney.com/kpi