3 Mistakes in Private Practice Building

Fees: Perception is Reality

Too many private practitioners set their fees on a fear-based mentality. But they are not priced for reality. Unfortunately, this is something we hear from private practitioners on a regular basis who are NOT doing well.

Let’s cut right to the chase. The bottom line is: perception is reality!

Would you walk into a Mercedes dealership and expect to walk away with a new vehicle for less than $10,000? Of course you wouldn’t—and neither do your patients.

But a huge problem for private practitioners comes when they price Mercedes services with Kia prices.

Like it or not, perception is reality. It is imperative you understand this right from the very beginning. To try to backpedal from this financial position in your private practice is extraordinarily difficult.

Far too often, we find private practitioners struggling because they’re giving away so many services for free (which, by the way, may actually be illegal) or have fees priced way below what they should be.

Even worse yet is the private practitioners who gives away non-covered services without a fair fee.

Too many practitioners tend to price their services on a fear-based mentality. And unfortunately they are not priced for actual reality.

So let me ask you: when was the last time you sat down with your monthly reports from your bookkeeper and accountant and actually figured out what it takes to run your practice—and what your actual overhead is?

Too many private practitioners will perform this exercise and find out the tradesmen they are treating may actually be taking home more in weekly paychecks than they are.

This is a very sad fact.

But it is a choice.

The solution is to get a business & financial education, and get it quick.

Perhaps it is your own attitudes about money that are holding you back and stopping the growth of your practice!

Don’t discount this.

Fees are a big issue that we help private practice owners deal with—and change—on a daily basis.

I wish you the best along your journeys!

Want to learn more about how to build your private practice?

Then Join my team experts for a free strategy session HERE

Have a great day!

JPH

 

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