1. Private Practice for New Professionals BUSINESS ASPECTS OF PRIVATE PRACTICE Reid Stell, LMHC City University of Seattle February 26, 2016

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 Business entity options Name your practice DBA (register a unique name or pick a fictitious business name) Print business cards (and letterhead?) Corporation, LLC, PLLC, PLLP, Sole proprietorship, or something else Consult an attorney (he’s also a counselor): Free to WMHCA membersFree to WMHCA members Small Business Administration: SBA.govSBA.gov Business license Washington State: Washington Dept. of RevenueWashington Dept. of Revenue City: List of participating citiesList of participating cities

5. Setting Up a Business Write a business plan Executive summary Company description Market analysis Organization and management Services offered Marketing and sales Financial projections Funding Help from the Small Business Administration: SBA.govSBA.gov

6. Setting Up an 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!1 month free for AMHCA members! Hire a designer Phone a friend

7. Setting Up an Office Directories Psychology Today Directory: 6 months free for AMHCA members!6 months free for AMHCA members! Your specialties Your profile Your specialties GoodTherapy.org: Check it outCheck it out Open Path Psychotherapy Collective: Sliding scale clubSliding scale club SCA – Seattle Counselors Association: Join hereJoin here Counseling Seattle: To get listedTo get listed WMHCA: “Find a Clinician““Find a Clinician“

8. Psychology Today Directory Listing Data Traffic update - Jan 1, 2015 to date 48946 Searches for help in your city and zip 3908 Views to your profile 48 Emails sent to you 241 Clicks to your website 5 People shared your profile with a friend

9. Weebly Stats

10. Google My Business

11. Setting Up a Practice Your professional association Washington Mental Health Counselors Association (and AMHCA) American Counseling Association (and WCA) American Association for Marriage and Family Therapy (and WAMFT) 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

12. Setting Up a Practice Office space Rent a suite (don’t forget furniture) Join with a colleague Join with a medical professional Share space (Craigslist) Terry Basolo and Associates Accord Associates North Star Offices Find a group Public library

13. Setting Up Your Office Office stuff Furniture Phone A regular one? Google Voice Printer/scanner/fax Online fax OnlineFaxes.com ($4.99/mo.) eFax.com

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

15. Billing and Record Keeping EHR (Electronic Health Records) OfficeAlly.com PracticeFusion.com AdvancedMD.com Paper records (2 locks) Encrypted word processor document Encrypted spreadsheet

16. Billing and Record Keeping Calendar Paper Phone/online Online appointment services Square Appointments Schedulista InputHealth.com

17. Billing and Record Keeping Electronic records Chart notes Submitting claims to insurance companies Your NPI (National Provider Identifier) Number: ApplyApply Manually Using a billing service Office Ally: Check it outCheck it out Another EHR provider: KASA SolutionsKASA Solutions And another: TherapySitesTherapySites And a free one: Practice FusionPractice Fusion

18. Billing and Record Keeping Ethical considerations Professional will: TemplateTemplate HIPAA/HITECH risk analysis and safeguards: ChecklistChecklist Policy and procedures manual Roy Huggins, LPC, NCC (Portland): Person-Centered TechPerson-Centered Tech Eric Ström, JD, LMHCA (Seattle): Ström ConsultingStröm Consulting

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. Finances Budgeting Banking Accounts Cash, check, card, EFT, Paypal, Bitcoin Merchant services: Stripe.comStripe.com Borrowing money High vs. low overhead

21. 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

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

23. Insurance panels Network contracts Advantages and disadvantages Applying to join networks (aka, getting credentialed) CAQH number: Good luckGood luck OneHealthPort: Check it outCheck it out Medicaid: Provider enrollmentProvider enrollment Thriveworks: Credentialing serviceCredentialing service Working out of network Preauthorization Deductibles

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

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

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

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

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

29. 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, LPCFree samples from Anna Deeds, LPC Reid’s forms: Take what you wantTake what you want IntakeQ.com ($29.95/mo.)

30. Resources Books Getting Started in Private Practice: The complete Guide to Building Your Mental Health Practice, Chris E. Stout and Laurie Cope Grand: AmazonAmazon Getting Better at Private Practice, Chris E. Stout: AmazonAmazon Videos Dr. Larry Waldman, Ph.D. talks about private practice for mental health therapist: YoutubeYoutube The advantages of having your own private practice in mental health...: Youtube Youtube 2013 CPT Codes: How They Effect Counselors and Psychologists: YoutubeYoutube

31. Resources Websites RealPsychPractice.com AllThingsPrivatePractice.com

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

33. Private Practice for New Professionals Download this Presentation (including links) Go to: ReidStellCounseling.com/Articles.html