Rocky Lalvani - The Profit Answer Man
In today's episode, our guest
Julie Herres, owner of GreenOak Accounting and author of Profit First for
Therapists, discusses financial management and compensation models for therapy
practices. She covers topics such as the challenges faced by mental health
therapists in the insurance industry, the different compensation models
commonly used in the therapy industry, and the emotional phases of Profit
First. Julie provides valuable insights into tracking utilization rates and
utilizing physical space efficiently to increase profitability and emphasizes
the importance of having a non-judgmental space to talk about money and
financial difficulties.
In this episode, you will learn the following:
● The importance of having a financial benefit to the practice
when offering a salary to clinicians.
● The value of a judgment-free money conversation. Money is
emotional, so talking to someone and getting advice is crucial.
● Finding a system that works for your business and pushing
through the emotional phases of financial management to achieve clarity and
ultimately financial freedom.