A thriving behavioral healthcare business is within your reach, provided you have the right tools. Get started with best practices and troubleshooting strategies to set yourself on the path to success.
Starting Your New Practice
Guidance for Starting a Behavioral Health Practice
You don’t have to start from scratch. Gain valuable insights from experienced professionals who have successfully built a strong foundation for their behavioral health practices.
Starting Your New Practice
Private Practice Business Plan Template
Learn the benefits of developing a private practice business plan and download a free template.
Common questions from others like you starting a new practice
What are the most important KPIs to help my business succeed?
We suggest monitoring client retention, client outcome measures, referral sources, payroll (if your practice will include multiple providers), and productivity at the practice and provider levels. These metrics will help you understand your practice’s strengths and weaknesses, and set goals for yourself.
Should I offer services on a cash pay or insurance-based model?
The decision of offering services on a cash-pay or insurance-based model depends on several factors. First, consider if you have the capacity to manage the claims submission, denials, and negotiations with insurance companies. Second, assess how many of your intended clients can afford mental healthcare without insurance, as offering private pay may limit your potential clientele. However, private pay may provide higher reimbursement for each appointment than insurance. Finally, weigh how much autonomy you need in your practice against other concerns. When you accept insurance, the insurance company has a say in how you treat each diagnosis, how many sessions are covered, and other details. It’s important to evaluate these factors and determine which model aligns with your practice goals and values. Offering both options can also provide flexibility for clients, but it’s important to ensure proper billing and documentation procedures are in place.
What do patients expect from a superbill?
Do I need a website to start my practice?
While a website is obviously not a legal requirement to start practicing, it is advisable to have one from a business standpoint. Many prospective clients conduct online searches for mental health providers, and will review a provider’s website before they pick up the phone to make an appointment. In addition, referral sources may want to peruse your website and direct their patients to it. If you’re worried about the cost of designing an online space, keep in mind that effective sites needn’t be expensive. Many online services now offer simple design templates and website hosting for a fraction of the cost of professional designers.