As a therapist, you have options for the type of practice you want.
#1 The Pros and Cons of Solo Private Practice
Solo private practice has the benefits of:
Being in control of every detail of your business
Setting your own rates and keeping all you make
Starting at a low cost and growing at your own pace
But it also:
Requires business savvy
Can be isolating
Carries greater risk
#2 The Pros and Cons of Group Practice
The pros include:
No self-marketing needed
No business savvy required
However, the cons are:
Determining your pay rate and taking up to 40%
Which may include scheduling and patients
Higher likelihood of burnout
When considering a group practice or online platform, there are numerous sites offering different types of services and specialties. Each has its own pay structure (some taking as much as 40% of the session rate) and requirements, including the number of years of professional experience and a full-time commitment.
Here are a few examples:
ReGain focuses solely on relationships and couple therapy.
Brightside focuses on anxiety and depression.
Betterhelp requires three years of professional experience.
Amwell offers only video chats that typically last less than 10 minutes.
Talkspace Network Clinicians must work five days and 40 hours per week with a minimum caseload of 80 clients.
But there is a third option for therapists—more of a hybrid.
Option #3 Help Therapy—The Ultimate Resource for Therapist Involvement
Help Therapy is a resource for therapists that delivers high-quality care solutions to meet the changing needs of therapists and patients. We partner with independent practitioners who want to maintain their independence and support them in their private practices. Help Therapy provides intensive marketing strategies, patient referrals, scheduling assistance, claims-filing and billing support.
We also offer flexible scheduling options and transparent, cost-efficient services with 82% reimbursement for providers. Help Therapy therapists earn 50-100% more than with other companies.
Help Therapy also assists with credentialing with Medicare, Triwest Alliance, Magellan Healthcare, and more.
Therapists have the option to provide in-person or telehealth visits—or a combination of both.
Our goal is to allow mental healthcare providers to grow their own independent and successful practice.
When considering joining a group practice, it’s essential to find out the specifics of the work environment and the salary structure.
What’s important to you?
How much control do you have over your practice?
What support services do they provide?
How much does the company take, and how much do you actually keep?
If you want to learn more about what Help Therapy offers therapists, visit us here.