Setting Fees and Rates In A Counseling Private Practice | Episode 18

Welcome to A Counselors Journey To Private Practice. I'm your host, Juan.
In this episode, we cover Setting Fees and Rates In Counseling Private Practice. Here are 6 key take-aways:
1. Focus on your market. Take time to search online and do a careful study of your market. This process is referred to as, Market Research. The goal is to identify what fees and rates are around your area.
2. Have a long term plan. Focus on what your fees are today and what they will be 5 years from now. This is the process that helps clinicians in private practice build success one step at a time.
3. Know your numbers. In your private practice, you should have a spreadsheet that goes over money coming and out. Identify what your rate should be based on (a) expenses (b) savings (c) other associated fees.
4. Reflection. Answers to key questions allow the private practice to become a successful private practice.

• How many clients do you need in your private practice for you to reach your level of success?
• What is the average income in your area? Or the area that your practice is located?
• What type of lifestyle do you desire to create from your private practice?

5. Caping your session rate. This will take place. At some point, you will go from an $ 100.00-hour session to $300.00. At some number, you'll notice that you can't keep going up.
At this point, you can continue to play with your fees by adding additional services. An example can include, adding a group to your practice. Your session fee can cap at $300.00 per hour. While your group includes 10 clients each at $50.00. This will come to $500.00 per hour.
6. Raising fees. Consider the variables: education, additional training, and continuing years of experience. Each of the variables focuses on reasons why you can increase your fees. The rate of increase should be in increments. Even a small $10.00 increase can go along way. Consider if you worked with 40 clients per month at $100.00 per hour compared to $110.00 per hour. The increase in fee would lead to an additional $400.00 per month or $4800.00.

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