What is a Private Practice Business Plan? A private practice business plan is a document that acts as the backbone of your business model and is a crucial step in establishing your mental health practice. Business plans are truly the foundation for any business, and are important for setting benchmarks to measure success. It’s a...
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What Your Behavioral Health Practice Needs to Know You’ve likely heard about the recent changes to the CPT code set and are wondering what it means for your behavioral health practice. How will these modifications affect your coding practices? Are there any immediate actions you need to take? Is there anything you need to do...
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Remote work is a thing we’ve all become very familiar with within the age of COVID. However, working remotely as a therapist or psychiatrist can present a unique set of challenges. From ensuring you have the proper telemedicine technology, abiding by all HIPAA regulations in a virtual setting, and maintaining a personal connection with your...
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Frequently, we are asked “Can my practice be compliant with Cures Act when using Valant?”. The short answer is Yes. Here, we’ll explain what Cures Act is and what you need to know when evaluating EHR software for your behavioral health practice.   What is the Cures Act? The 21st Century Cures Act (Cures Act)...
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An expanded list of common diagnostic codes for mental & behavioral health. A testament to the nature of the healthcare industry, changes occur continuously and challenge the ways we use technology, apply care, and even classify diagnoses. The familiarity and instinctiveness that comes with decades of ICD-9 usage simply won’t disappear overnight for most providers,...
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The Substance Abuse and Mental Health Services Administration, a division of the United States Department of Health & Human Services, predicts a nationwide shortage of 10,000 to nearly 50,000 mental health professionals by 2025 if the current trends continue. The predicted shortage includes marriage and family therapists, mental health counselors, psychiatrists, and psychologists. The rumors...
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When it comes to defining the right key performance indicators (KPIs) to track for your behavioral health practice, it can be hard to know where to start. One of the KPIs that is important for every practice to measure is clinical productivity, as it can have a direct and significant impact on your bottom line....
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Business plans act as the foundation for any type of business and are important for setting benchmarks to measure success. But how do you write a business plan for a mental health private practice? Valant takes a look at the components of a business plan and translates it into an easy-to-use framework for both mental...
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Like thousands of mental health professionals across the country, you are probably working on your private practice reopening plan and have a lot of questions. Is now the right time to reopen? Are my patients ready to come back to therapy in person? What can I do to keep my staff and patients safe from...
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The Electronic Health Records (EHR) market continues to boom, however there are still many within the behavioral healthcare industry hesitant to make that next step. One of the biggest (and most justifiable) fears is cost. However, what some practices fail to realize is that the right EHR will increase your profitability in unexpected ways. Here...
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