We all have out own assumptions about what managing a team will be like, but the reality of expanding your practice and hiring clinicians does not always match the reality. Here are some to consider!
Work less, make more vs. work more, make less
It is often assumed that when you start a group practice you will be able to see less clients and generate more revenue. The reality is that there is typically a transitional period where you are working more than you did in solo practice due to increased administrative tasks, hiring, onboarding, and training plus the pressure to generate additional referrals. If you do not calculate a sustainable compensation model which accounts for expenses and taxes, there is also the possibility that you may make less than you did in solo practice.
Financial stability vs. financial instability
A common expectation when a practice owner expands from solo to group is that with more clinicians there will automatically increased revenue resulting in more financial stability for your practice. The reality is if you did not determine the minimum number of clients each clinician must see in order to be profitable and correctly calculate expenses and taxes, you may lose money, resulting in financial instability. If you are an insurance-based practice, it is also important to consider the time it takes to credential and develop a process for submitting insurance claims and following up on denials to address issues early. Purchase our training on How to Run a Successful Insurance Based Practice.
Lead by example and others will follow vs provide expectations, oversight, and consequences
It is common as a group practice owner to assume that if we lead by example and demonstrate what we expect from our team, this will be enough for them to follow our lead. The reality is that in order to promote success in our practices, it is our responsibility to not only provide clear expectations (not just verbally, but in writing!) but also to monitor performance and enforce consequences. Purchase our employee manual template and clinician performance review. We also utilize a Dashboard to track metrics including documentation completion and quality, sessions, and involvement in the practice.
Shared decision-making vs. power imbalances
Group practice owners often assume that if we ask for feedback and demonstrated that we value the perspective of each member of our team through check-ins and surveys that they will share in decision-making. The reality is that no one will ever invest in or value your practice as much as you do. Asking for opinions and feedback is great but at the end of the day, it is the practice owner and eventual leadership team that are responsible for decision-making.
Create your ideal practice and your team will appreciate it vs. employees show their appreciation by doing good work
It is often an assumption that if we create a workplace that includes everything we never experienced at previous jobs that our team will recognize this, acknowledge our efforts, and express how much they appreciate it. The reality is that we are all seeking different things and we all express appreciation in different ways. Most employees show their appreciation by doing good work. If they do express their appreciation to you, that is just a bonus!
Consider Us
The consultants at Compassionate Consulting Company are licensed independent clinical social workers located in Massachusetts who have been running successful counseling practices for years. Here are testimonials from clients that have worked with us. We enjoy working with entrepreneurs that are starting their business, expanding and hiring team members, as well as those who are considering diversifying and adding different income streams. We are able to assist with everything described above and would love the opportunity to assist you in expanding successfully. Schedule a free consult so we can learn more about your business goals and share how we can help. We recommend doing these 6 things if you want to expand.