Podcasts about greenoak accounting

Let's be honest: when someone says “Let's talk tax law,” most of us want to fake a Wi-Fi outage and run for cover. But when Julie Herres joins The Practice of Therapy Podcast, you actually want to lean in. Somehow, she manages to make the ever-shifting sands of tax policy sound (dare we say it?) friendly — like a conversation over coffee with a really smart friend who also color-codes her spreadsheets. So, what's happening with taxes in 2025? Buckle up, practice owners, because there's a whole lot of “maybe” in the air. But Julie's here to help us wade through the uncertainty without losing our minds — or our deductions. Resources Mentioned In This Episode  Watch on YouTube Use the promo code “GORDON” to get 2 months of Therapy Notes free Google Ads for Therapists Consulting with Gordon Mental Health Wear TN The PsychCraft Network ‬Trauma-Informed Yoga Basics Meet Julie Herres Julie Herres is on a mission to inspire every private practice to be profitable. Over the last several years, that dream has become reality as Julie and her team have helped hundreds of private practice owners take their profit first and gain financial freedom. As the owner of GreenOak Accounting, Julie leads her firm with this goal in mind, providing tax, accounting and Profit First consulting services to private practices across the United States. Julie is also a Certified Profit First Professional, an IRS Enrolled Agent, a speaker and the host of the Therapy For Your Money podcast. GreenOak Accounting Therapy For Your Money Profit First for Therapists

Budgeting vs. Investing: Smart Financial Decisions for Therapy Practice OwnersIn this episode of 'Therapy for Your Money,' host Julie Herres, owner of GreenOak Accounting, discusses how therapy practice owners can navigate the challenging decision of when to be frugal versus when to invest in growth. Julie offers a step-by-step guide on setting up a startup budget, allocating funds, and revisiting financial milestones. She also explores the pros and cons of taking on debt and the importance of marketing investments in the early stages of a practice. Key action steps include knowing your startup budget, dividing funds strategically, and continuously evaluating financial needs as your practice grows. Julie emphasizes the need for using accounting software and saving for taxes to ensure a financially healthy practice.Show Highlights00:00 Introduction to Therapy for Your Money00:45 Deciding When to Spend or Save in Your Practice01:57 Setting Up Your Startup Budget03:32 Allocating Your Budget Wisely09:22 Marketing and Growth Strategies11:43 Managing Debt and Financial Caution15:18 Final Tips and Resources16:57 Disclaimer and Legal InformationLinks and ResourcesMoney for Therapists Practice Startup - https://www.greenoakaccounting.com/startupGreenOak Accounting - www.GreenOakAccounting.comTherapy For Your Money Podcast - www.TherapyForYourMoney.comProfit First for Therapists - www.ProfitFirstForTherapists.comGreenOak Courses: https://www.greenoakaccounting.com/coursesProfit First Academy - www.ProfitFirstForTherapists.com/Academy Podcast Production and Show Notes by Course Creation Studio

Adding an online course or coaching offer can feel like a natural next step for private practice owners—but it comes with its own financial considerations. In this episode, Julie Herres walks through how to manage revenue from a course or other non-clinical income stream without creating chaos in your books.You'll learn how to separate course finances from your practice, when it might be time to set up a separate entity, and how to use Profit First principles to allocate funds for development, marketing, taxes, and your own pay. Whether you're just getting started or already selling, Julie offers grounded guidance to help you build a profitable and sustainable second stream of income.Listen in to learn:Why courses won't fix a struggling practice—and what to do firstWhat legal and licensing implications to consider when launching a non-therapy offerHow to structure bank accounts using Profit First to track course income clearlyEpisode Highlights00:45 – Why a course isn't the solution to a struggling practice02:50 – How to evaluate whether your course should be part of your practice or a separate entity04:15 – The potential risk of licensing board oversight for non-clinical offerings05:40 – When it's worth creating a separate LLC06:50 – Using Profit First to allocate a start-up course budget08:10 – Why separate bank accounts give you clarity and control09:00 – Treating your course income like a solo practice inside a group model10:00 – How to handle taxes, reinvestment, and owner's pay for your course12:00 – Final thoughts on making your course pay you back—not just take your timeLinks and ResourcesMoney for Therapists Practice Startup - https://www.greenoakaccounting.com/startupGreenOak Accounting - www.GreenOakAccounting.comTherapy For Your Money Podcast - www.TherapyForYourMoney.comProfit First for Therapists - www.ProfitFirstForTherapists.comProfit First Academy - www.ProfitFirstForTherapists.com/Academy Podcast Production and Show Notes by Course Creation StudioIf this episode resonated with you, consider sharing it with a fellow clinician or checking out our free resources at GreenOak Accounting. Your financial clarity starts with a single step—and you don't have to take it alone.

Navigating Finances and Tech for Your Therapy PracticeIn this episode of Therapy for Your Money, Julie Herres, owner and accountant at GreenOak Accounting, discusses how technology impacts financial management for therapy practice owners. This episode was recorded after the unexpected closure of Bench.co, a popular bookkeeping service, which sparked this important conversation about owning your financial data and the potential risks of relying solely on cheap, tech-driven accounting options.Julie breaks down some of the challenges with services like Bench, such as their proprietary software that can make it hard to move your data elsewhere, and those "free" tax services that might not be as thorough or accountable as you'd hope. She also draws parallels to what's happening in the mental health industry, where venture capital-backed tech companies are influencing pricing and reimbursement rates. This episode will help you feel more informed and empowered to make the best decisions for your practice's financial health and to choose accounting services you can truly trust.What We Covered:00:00 Welcome to Therapy for Your Money!00:48 Let's talk about technology and your practice's finances.02:03 What was up with Bench.co closing?03:30 What does this mean for us small business owners?04:19 Are those super low-cost bookkeeping services really worth it?05:34 Why owning your financial data is so crucial.07:47 A quick comparison: QuickBooks Online vs. other options.08:46 The real deal with "free" tax services.11:55 How venture capital can affect pricing.15:24 Wrapping things up with some final thoughts.Links and ResourcesMoney for Therapists Practice Startup - https://www.greenoakaccounting.com/startupGreenOak Accounting - www.GreenOakAccounting.comTherapy For Your Money Podcast - www.TherapyForYourMoney.comProfit First for Therapists - www.ProfitFirstForTherapists.comProfit First Academy - www.ProfitFirstForTherapists.com/Academy Podcast Production and Show Notes by Course Creation Studio

Starting and running a private practice is a journey filled with challenges, growth opportunities, and the potential for both professional and personal fulfillment. Gordon Brewer, a seasoned mental health professional and founder of The Practice of Therapy, reflects on his journey into private practice, sharing insights that are both inspiring and practical for current and aspiring private practitioners. The Journey to Autonomy Gordon began his private practice journey in 2006 after gaining extensive experience working in nonprofit agencies. While he credits his nonprofit work for providing invaluable clinical training, he found himself drawn to private practice for its autonomy and financial potential. Transitioning to full-time private practice in 2010 marked a pivotal moment in his career, one that required him to embrace the challenges and opportunities of running his own business. Mindset Matters: Developing a Business Perspective A recurring theme in Gordon's advice is the importance of adopting a business mindset. To thrive in private practice, clinicians must view their work not just as a therapeutic endeavor but as a business venture. This includes understanding: Return on Investment (ROI): Assessing where to invest time and money to maximize success. Profitability: Ensuring income exceeds expenses to sustain and grow the practice. Systems and Processes: Establishing efficient workflows to optimize operations. “Clarity around your ‘why' is essential,” Gordon emphasizes. For many, the “why” includes achieving autonomy, earning more, and escaping the bureaucracy of agency work. Don't miss Gordon's invaluable advice on starting and scaling a private practice, overcoming challenges, and building a supportive network. Tune in now to take your practice to the next level!

Why I believe Whole Life Insurance is a Bad InvestmentIn this episode of 'Therapy for Your Money,' host Julie Herres, owner of GreenOak Accounting, shares her strong opinion that whole life and universal life insurance policies are poor financial products. Julie delves into her personal experience with these policies, explains why they don't make financial sense for most people, and advocates for term life insurance. Focusing on keeping finances straightforward, she emphasizes separating life insurance from investments. Listeners will learn about the pitfalls of whole-life policies, the substantial savings with term life insurance, and how to protect their loved ones properly.Show Highlights00:00 Introduction to Therapy for Your Money00:47 Unpopular Opinion: Whole Life and Universal Life Insurance01:50 Personal Experience with Universal Life Insurance05:46 The Case for Term Life Insurance07:56 How to Choose the Right Life Insurance14:20 When Whole Life Insurance Might Make Sense15:49 Conclusion and Final AdviceLinks and ResourcesMoney for Therapists Practice Startup - https://www.greenoakaccounting.com/startupGreenOak Accounting - www.GreenOakAccounting.comTherapy For Your Money Podcast - www.TherapyForYourMoney.comProfit First for Therapists - www.ProfitFirstForTherapists.comProfit First Academy - www.ProfitFirstForTherapists.com/Academy Podcast Production and Show Notes by Course Creation Studio

Navigating Partnerships in Private Therapy PracticesIn this episode of 'Therapy for Your Money,' host Julie Herres discusses the intricacies of partnerships in therapy practices with attorney Dan Mayer and practice owner Dave Yood. They explore the importance of having a well-crafted partnership agreement, key elements that need to be included, and potential sources of friction among partners. Dan and Dave share their experiences and share the key ingredients to maintaining successful partnerships.Episode Highlights00:00 Introduction to Therapy for Your Money00:49 Today's Topic: Partnerships01:26 Meet the Guests: Dan Mayer and Dave01:31 Dan Mayer's Expertise in Mental Health Practices02:36 Dave's Journey in Forming a Partnership04:12 The Importance of Partnership Agreements07:27 Key Elements of a Partnership Agreement10:46 Legal and Tax Considerations16:18 Dave's Experience and Advice on Partnerships17:06 Navigating Partnership Agreements18:20 Tax Challenges and Solutions18:56 The 'Eat What You Kill' Model19:30 Avoiding Partnership Conflicts20:44 Handling Partner Exits and Deaths24:05 Importance of Clear Rules and Roles27:42 Final Thoughts on Partnerships31:23 Where to Find UsLinks and ResourcesProtecting Your Practice - https://www.protectingyourpractice.com/GreenOak Accounting - www.GreenOakAccounting.comTherapy For Your Money Podcast - www.TherapyForYourMoney.comProfit First for Therapists - www.ProfitFirstForTherapists.comProfit First Academy - www.ProfitFirstForTherapists.com/AcademyPodcast Production and Show Notes by Course Creation StudioGet our free KPI tracker to see how you practice measures up to others in the industry! www.therapyforyourmoney.com/kpi

In this episode of The Practice of Therapy Podcast, guest Julie Herres brings invaluable insights into the critical role of compensation in group practices. Julie highlights how compensation is often the largest expense in a group practice and underscores its importance for the overall financial health of the business. Many practice owners, she observes, make compensation decisions without sufficient thought, often relying on others' advice or social media rather than tailoring their approach to their unique business needs. Julie argues that profitability is essential for the survival and success of a group practice, emphasizing that every clinician must generate profit for the practice to sustain itself. She also addresses common financial mistakes made by practice owners and offers practical tips to avoid them. Julie is also offering a free webinar on September 27th to further help practice owners set up their group practice for financial and relational success. https://www.greenoakaccounting.com/gordon Meet Julie Herres Julie Herres is the founder and CEO of GreenOak Accounting, a firm that exclusively serves therapists, psychologists, and counselors in private practice across the United States. Over the years, Julie and her team have worked with hundreds of private practice owners and developed serious knowledge about what makes a practice financially successful. GreenOak's goal is to help practice owners feel comfortable with the financial side of their businesses and have profitable practices. Some of the firm's biggest success stories were achieved through implementing Profit First.  Julie is an accountant and an enrolled agent (EA). She is also a speaker and the host of the Therapy for Your Money podcast. Resources Mentioned In This Episode Free Webinar GreenOak Accounting Therapy For Your Money Profit First for Therapists Julie on Instagram Use the promo code "GORDON" to get 2 months of Therapy Notes free Start Consulting with Gordon The PsychCraft Network Mental Health Wear

In today's market, it's more crucial than ever for us group practice owners to think like CEOs and differentiate our services. But that's often easier said than done - especially if you're not sure where to start.  In this episode, I chatted all about this with Dr. Ajita Robinson, a licensed clinical professional counselor who specializes in grief and trauma, and an income strategist for therapists. We explored the critical need for diversifying mental health services in the post-COVID era. Dr. Robinson provided invaluable insights on transitioning from a practitioner mindset to a CEO mindset, the importance of increasing marketing touch points, and the advantages of building B2B relationships.  If you're interested in expanding and diversifying services in your practice, you won't want to miss this conversation where we talk about: Why we need to shift from a practitioner mindset to a CEO mindset to create a sustainable practice Increasing marketing touch points to reach a broader audience How to interpret and pivot based on qualitative data Why having a digital footprint for your practice has become more crucial than ever Building business-to-business relationships to expand service offerings Examples of types of partnerships for diversifying services Tune in to this episode to gain practical tips and strategies that can help your practice and thrive in the evolving landscape. Thanks for listening! Like what you heard? Give us 5 stars on whatever platform you're listening from. Need extra support? Join The Exchange, a membership community just for group practice owners on our website www.thegrouppracticeexchange.com/exchange. Talk to you next time!   LINKS: The Group Practice Exchange Programs + Courses The Accountability Equation™ Quiz The Visionary Magazine  Dr. Ajita Robinson's Book: The Purposeful & Profitable Therapist's Guide on Diversifying Income   Connect with Maureen Werrbach & The Group Practice Exchange: Website Facebook Instagram LinkedIn   Connect with Dr. Ajita Robinson: Website Instagram Facebook The Purposeful and Profitable Therapist Collective The Purposeful and Profitable Therapist Summit   This episode is sponsored by TherapyNotes. TherapyNotes is an EHR software that helps behavioral health professionals manage their practice with confidence and efficiency. I use TherapyNotes in my own group practice and love its amazing support team, billing features, and scheduling capabilities. It serves us well as a large group practice owner. Do you ever wish for a financial therapist who could relieve you from the last few months of bookkeeping, talk you off the edge when you're running into issues with Quickbooks, or help you work through a profit plan for growth? GreenOak Accounting does just that! GreenOak Accounting is an accounting firm that specializes in working with group practices. Their value goes WAY beyond bookkeeping; they can help you get on track for financial success. Schedule a free consultation by going to http://greenoakaccounting.com/tgpe

In recent years, retaining top talent has become more challenging than ever for group practice owners. The hard truth? Your staff are likely leaving because they no longer feel connected to you or their work. So, how can you keep your team engaged and committed to your practice? In this episode, I sit down with Shelli Warren, a seasoned team and leadership coach, to uncover the secrets of offering your staff a career, not just a job. Shelli brings a wealth of knowledge on creating meaningful career paths, even in smaller group practices, and emphasizes the importance of fostering a deep sense of connection among your employees. We'll explore the unique challenges group practice owners face, especially with the surge in telehealth, and provide actionable strategies to keep your staff motivated and engaged. Join our conversation to hear about: How the rise of telehealth has impacted staff dynamics and what you can do about it. The importance of offering meaningful career opportunities, not just jobs, to enhance staff retention. Strategies to help your employees feel genuinely connected to their roles and your practice. Why it's important to educate staff on the complexities of running a group practice. Suggestions for maintaining leadership visibility and why that has an impact on staff morale. Tools and techniques for fostering career growth within your team. Don't miss out on this invaluable conversation filled with insights and resources designed to help you retain your top talent and create a thriving, connected workplace. Thanks for listening! Like what you heard? Give us 5 stars on whatever platform you're listening from. Need extra support? Join The Exchange, a membership community just for group practice owners on our website www.thegrouppracticeexchange.com/exchange. Talk to you next time!   Resources mentioned in this episode: The Group Practice Exchange Programs + Courses The Accountability Equation™ Quiz The Visionary Magazine Stacking Your Team Guides & Assessments   Connect with Maureen Werrbach & The Group Practice Exchange: Website Facebook Instagram LinkedIn   Connect with Shelli Warren: Website  Podcast: Stacking Your Team LinkedIn Instagram Facebook YouTube This episode is sponsored by TherapyNotes. TherapyNotes is an EHR software that helps behavioral health professionals manage their practice with confidence and efficiency. I use TherapyNotes in my own group practice and love its amazing support team, billing features, and scheduling capabilities. It serves us well as a large group practice owner. Do you ever wish for a financial therapist who could relieve you from the last few months of bookkeeping, talk you off the edge when you're running into issues with Quickbooks, or help you work through a profit plan for growth? GreenOak Accounting does just that! GreenOak Accounting is an accounting firm that specializes in working with group practices. Their value goes WAY beyond bookkeeping; they can help you get on track for financial success. Schedule a free consultation by going to http://greenoakaccounting.com/tgpe  

Have you ever wondered how the acquisition of mental health practices by insurance companies might affect your practice?  In this episode, I dive into the trend of insurance companies acquiring mental health practices. I share insights on the implications of this trend for small independent practices, discussing potential impacts on patient choice, care quality, and healthcare costs. This trend has profound implications for our field, and understanding it is crucial for staying ahead in the ever-evolving landscape of mental health care. Join me to learn more about: The trend of insurance companies acquiring mental health practices and it's implications. Potential impacts on patient choice, care quality, and healthcare costs. Regulatory aspects surrounding these acquisitions. Forecasting continued consolidation in the mental health industry. Tips and recommended resources help you stay informed on this topic and conduct your own continued research. The trend of insurance companies acquiring mental health practices is a significant development in our industry. By staying informed and proactive, we can navigate these changes effectively and continue to provide high-quality care to our patients.  Thanks for listening! Like what you heard? Give us 5 stars on whatever platform you're listening from. Need extra support? Join The Exchange, a membership community just for group practice owners on our website www.thegrouppracticeexchange.com/exchange. Talk to you next time!   Resources mentioned in this episode: The Visionary Magazine The Group Practice Exchange Programs + Courses The Accountability Equation™ Quiz   Connect with Maureen Werrbach & The Group Practice Exchange: Website Facebook Instagram LinkedIn   This episode is sponsored by TherapyNotes. TherapyNotes is an EHR software that helps behavioral health professionals manage their practice with confidence and efficiency. I use TherapyNotes in my own group practice and love its amazing support team, billing features, and scheduling capabilities. It serves us well as a large group practice owner. Do you ever wish for a financial therapist who could relieve you from the last few months of bookkeeping, talk you off the edge when you're running into issues with Quickbooks, or help you work through a profit plan for growth? GreenOak Accounting does just that! GreenOak Accounting is an accounting firm that specializes in working with group practices. Their value goes WAY beyond bookkeeping; they can help you get on track for financial success. Schedule a free consultation by going to http://greenoakaccounting.com/tgpe  

Navigating Challenges in Therapy Practices: Insights and StrategiesThis episode of 'Therapy for Your Money' features host Julie Herres and GreenOak Accounting team manager Jacquie Carter discussing the financial challenges therapy practices faced in the year's second quarter. They explore themes of cautiousness among practice owners due to low intakes and referrals, the impact of external factors such as the Change Healthcare incident, and strategies for maintaining financial health, including prudent cash flow management and clinician compensation. The discussion also covers the importance of professional advice in navigating business decisions and thoughts on what the future may hold for the industry, emphasizing the need for caution, preparation, and sustainable growth strategies amidst ongoing economic uncertainties.Episode Highlights00:00 Welcome to Therapy for Your Money: Empowering Financial Confidence00:48 Introducing the Season's Final Episode with Jackie Carter01:28 Q1 Insights: Navigating Challenges and Embracing Caution04:24 The Impact of Change Healthcare and Financial Preparedness07:43 Strategies for Q1 Challenges: Cashflow and Client Intakes13:14 The Importance of Professional Advice and Sustainable Practices16:43 Clinician Compensation and Retention in Uncertain Times23:34 Looking Ahead: Industry Predictions and Final TakeawaysLinks and ResourcesTherapy Intake ProGreenOak Accounting - www.GreenOakAccounting.comTherapy For Your Money Podcast - www.TherapyForYourMoney.comProfit First for Therapists - www.ProfitFirstForTherapists.comProfit First Academy - www.ProfitFirstForTherapists.com/AcademyPodcast Production and Show Notes by Course Creation StudioGet our free KPI tracker to see how you practice measures up to others in the industry! www.therapyforyourmoney.com/kpi

Ever wondered how psychedelic-assisted therapy is reshaping mental health treatment? In this episode, I dove into the transformative realm of psychedelic-assisted therapy with the incredible Christopher Brown. As a social worker and military veteran, Christopher brought a wealth of knowledge from his transition from the VA to his own private practice, where he's pioneering in this field of mental health treatment. Our conversation was a deep dive into the intricacies of integrating psychedelic-assisted therapy into a group practice. We explored the legalities, the ethical considerations, and the compelling research that's changing the way we look at treatments, especially for conditions like PTSD. Join us to hear more about: Christopher's transition from the VA to private practice and how his military service informs his work in psychedelic-assisted therapy. The current research and the growing evidence base for treatments like MDMA-assisted therapy for PTSD. The complex legal and ethical issues surrounding the use of psychedelics in therapy. The importance of understanding and adhering to current laws to safely integrate these therapies into practice. Steps therapists can take to receive specialized training in psychedelic-assisted therapy. My discussion with Christopher was not just informative but also a clarion call to group practice owners. The potential of psychedelic-assisted therapy is immense, and as we navigate this new terrain, it's essential to do so with diligence, respect for the law, and a commitment to the highest ethical standards.  Thanks for listening! Like what you heard? Give us 5 stars on whatever platform you're listening from. Need extra support? Join The Exchange, a membership community just for group practice owners on our website www.thegrouppracticeexchange.com/exchange. Talk to you next time! Resources mentioned in this episode: The Group Practice Exchange Programs + Courses The Accountability Equation™ Quiz Connect with Maureen Werrbach & The Group Practice Exchange: Website Facebook Instagram LinkedIn   Connect with Christopher Brown Peak Psychotherapy Website Therapist Integration Consulting LinkedIn   This episode is sponsored by TherapyNotes. TherapyNotes is an EHR software that helps behavioral health professionals manage their practice with confidence and efficiency. I use TherapyNotes in my own group practice and love its amazing support team, billing features, and scheduling capabilities. It serves us well as a large group practice owner. Do you ever wish for a financial therapist who could relieve you from the last few months of bookkeeping, talk you off the edge when you're running into issues with Quickbooks, or help you work through a profit plan for growth? GreenOak Accounting does just that! GreenOak Accounting is an accounting firm that specializes in working with group practices. Their value goes WAY beyond bookkeeping; they can help you get on track for financial success. Schedule a free consultation by going to http://greenoakaccounting.com/tgpe

Have you ever wondered how to empower therapists in your group practice, especially those who are just starting out or are provisionally licensed?  In this episode, I had the honor of chatting with Shannon Heers, an Approved Clinical Supervisor and founder of Firelight Supervision, about boosting the confidence of therapists. In our conversation, we discussed the challenges that come with being new in the field or working under provisional licenses and how these can impact a therapist's confidence. Shannon, with her expertise from Firelight Supervision, shared invaluable strategies for overcoming these hurdles. Here are some of the key takeaways from our discussion: How common it is for therapists, particularly those new to the profession, to experience imposter syndrome.  The need to differentiate between actual competence and the feeling of confidence, providing strategies to manage these doubts. The importance of offering supervision that helps therapists grow and feel more secure in their abilities. Steps that group practice owners can take to cultivate a nurturing environment that encourages therapists to develop resilience and confidence. Practical tips for therapists to build their confidence, including self-reflection, seeking feedback, and engaging in continuous learning. This episode was a treasure trove of insights for any group practice owner looking to empower their therapists. Remember, creating a supportive environment is key to fostering growth and resilience in your team. Thanks for listening! Like what you heard? Give us 5 stars on whatever platform you're listening from. Need extra support? Join The Exchange, a membership community just for group practice owners on our website www.thegrouppracticeexchange.com/exchange. Talk to you next time! Resources mentioned in this episode: The Group Practice Exchange Programs + Courses The Accountability Equation™ Quiz Clinical Confidence Ebook Connect with Maureen Werrbach & The Group Practice Exchange: Website Facebook Instagram LinkedIn Connect with Shannon Heers: Firelight Supervision Website Instagram Facebook   This episode is sponsored by TherapyNotes. TherapyNotes is an EHR software that helps behavioral health professionals manage their practice with confidence and efficiency. I use TherapyNotes in my own group practice and love its amazing support team, billing features, and scheduling capabilities. It serves us well as a large group practice owner. Do you ever wish for a financial therapist who could relieve you from the last few months of bookkeeping, talk you off the edge when you're running into issues with Quickbooks, or help you work through a profit plan for growth? GreenOak Accounting does just that! GreenOak Accounting is an accounting firm that specializes in working with group practices. Their value goes WAY beyond bookkeeping; they can help you get on track for financial success. Schedule a free consultation by going to http://greenoakaccounting.com/tgpe

Are you overwhelmed by the idea of taking Medicare in your group practice? You're definitely not alone - so many group practice owners don't accept Medicare because they're confused about billing, CPT codes, Medicare documentation requirements, or need help streamlining their billing to maximize profits. That's why in this episode, Gabrielle Juliano-Villani and I talk about all the ins and outs of integrating Medicare into a group practice. We explored the potential hurdles and advantages, equipping you with the knowledge needed to make informed decisions about accepting Medicare. Here's a rundown of what we covered: Medicare basics: We started by breaking down the basics of Medicare, including who it serves and how it operates. Administrative considerations: Gabrielle provided insights into the administrative side of Medicare, such as enrollment processes and compliance requirements. Clinical implications: We discussed the clinical implications of accepting Medicare, including how it affects client care and therapist workload. Aligning with practice vision: Gabrielle gave an overview of how to assess if accepting Medicare aligns with your practice's mission and values. This episode is one you don't want to skip if you've been considering accepting Medicare in your group practice.  Thanks for listening! Like what you heard? Give us 5 stars on whatever platform you're listening from. Need extra support? Join The Exchange, a membership community just for group practice owners on our website www.thegrouppracticeexchange.com/exchange. Talk to you next time!   Resources mentioned in this episode: The Group Practice Exchange Programs + Courses The Accountability Equation™ Quiz Reset & Regulate Retreat   Connect with Maureen Werrbach & The Group Practice Exchange: Website Facebook Instagram LinkedIn   Connect with Gabrielle Juliano-Villani: GJV Consulting & Training Website Medicare Consulting for Therapists Website GJV Consulting Etsy Instagram Facebook group: Medicare Consulting for Therapists Facebook group: Create an Abundant Group Practice TikTok YouTube LinkedIn   This episode is sponsored by TherapyNotes. TherapyNotes is an EHR software that helps behavioral health professionals manage their practice with confidence and efficiency. I use TherapyNotes in my own group practice and love its amazing support team, billing features, and scheduling capabilities. It serves us well as a large group practice owner. Do you ever wish for a financial therapist who could relieve you from the last few months of bookkeeping, talk you off the edge when you're running into issues with Quickbooks, or help you work through a profit plan for growth? GreenOak Accounting does just that! GreenOak Accounting is an accounting firm that specializes in working with group practices. Their value goes WAY beyond bookkeeping; they can help you get on track for financial success. Schedule a free consultation by going to http://greenoakaccounting.com/tgpe

Behind the Numbers of Self-Publishing: Profit First for Therapists Turns OneIn this Therapy for Your Money episode, host Julie Herres, an accountant and owner of Green Oak Accounting, celebrates her book's first anniversary, Profit First for Therapists. She discusses the comprehensive details of self-publishing a niche book, including the financial and time commitments required. Julie provides insights into the costs associated with developmental editing, proofreading, typesetting, audiobook production, marketing, and promotional materials for the all in total. She sheds light on the book's sales performance, revealing that despite the significant upfront costs, the book has sold over 8,000 copies, surpassing her initial goal of 5,000 sales in the first year. The episode also highlights the importance of aligning book projects with broader business goals rather than expecting direct financial returns from book sales alone. Julie encourages listeners with a book idea to pursue self-publishing, equipped with realistic expectations about the process and potential outcomes.Episode Highlights00:00 Welcome to Therapy for Your Money00:49 Celebrating One Year of Profit First for Therapists01:00 The Realities of Self-Publishing a Book03:01 The Journey from Manuscript to Market03:45 The Hidden Costs of Self-Publishing12:32 Marketing: The Unexpected Marathon20:30 The Impact and Future of Profit First for Therapists24:53 Final Thoughts and Advice for Aspiring AuthorsLinks and ResourcesProfit First for Psychotherapists - https://www.facebook.com/groups/1274972945933485/GreenOak Accounting - www.GreenOakAccounting.comTherapy For Your Money Podcast - www.TherapyForYourMoney.comProfit First for Therapists - www.ProfitFirstForTherapists.comProfit First Academy - www.ProfitFirstForTherapists.com/AcademyPodcast Production and Show Notes by Course Creation StudioGet our free KPI tracker to see how you practice measures up to others in the industry! www.therapyforyourmoney.com/kpi

Have you ever wondered what it takes to be a visionary leader in your group practice? In today's episode, I dove into this very topic by sharing an article from the first issue of The Visionary magazine, our new quarterly magazine that's crafted specifically for us—the innovators and forward-thinkers of the mental health group practice world.  As I review the article, I explore the core attributes of visionary leadership and how we can use this perspective to revolutionize our practices. Join me to be inspired to tap into your own visionary potential, and learn about topics like: What it means to be a visionary leader in the mental health industry. Strategies for shaping the future of our practices with innovative thinking and foresight. The importance of inspiration and how it can empower us as leaders. My personal reflections and advice on embracing your visionary potential. I believe that each one of us has the capacity to be a visionary leader. It's my hope that it will help you harness your visionary abilities and understand the pivotal role you play in shaping the future of mental health group practice. Thanks for listening! Like what you heard? Give us 5 stars on whatever platform you're listening from. Need extra support? Join The Exchange, a membership community just for group practice owners on our website www.thegrouppracticeexchange.com/exchange. Talk to you next time! Resources mentioned in this episode: The Visionary Magazine The Group Practice Exchange Programs + Courses The Accountability Equation™ Quiz Connect with Maureen Werrbach & The Group Practice Exchange: Website Facebook Instagram LinkedIn   This episode is sponsored by TherapyNotes. TherapyNotes is an EHR software that helps behavioral health professionals manage their practice with confidence and efficiency. I use TherapyNotes in my own group practice and love its amazing support team, billing features, and scheduling capabilities. It serves us well as a large group practice owner. Do you ever wish for a financial therapist who could relieve you from the last few months of bookkeeping, talk you off the edge when you're running into issues with Quickbooks, or help you work through a profit plan for growth? GreenOak Accounting does just that! GreenOak Accounting is an accounting firm that specializes in working with group practices. Their value goes WAY beyond bookkeeping; they can help you get on track for financial success. Schedule a free consultation by going to http://greenoakaccounting.com/tgpe  

Have you ever wondered how understanding your team's instinctive problem-solving styles could transform your leadership and enhance collaboration?  In this episode, I had a conversation with Niki Ramirez from HR Answers about just that. We explored the Kolbe A™ Index and its impact on group practice leadership teams. Join our conversation to learn more about: The essence of the Kolbe A™ Index and how it identifies our natural instincts for taking action. An overview of the four action modes defined by the Kolbe A™ Index that influence our problem-solving approaches. Personal reflections on our own Kolbe results and the insights gained from them. The benefits that group practice owners can reap by acknowledging and valuing the diverse instinctive strengths of their teams. Nikki's expert advice on how to effectively integrate Kolbe assessments into team development for a more inclusive and dynamic work environment. My chat with Nikki was not only insightful but also a testament to the power of embracing the unique talents within our teams. I'm convinced that leaders who leverage tools like the Kolbe A™ Index are well on their way to fostering a more collaborative and successful practice. Thanks for listening! Like what you heard? Give us 5 stars on whatever platform you're listening from. Need extra support? Join The Exchange, a membership community just for group practice owners on our website www.thegrouppracticeexchange.com/exchange. Talk to you next time!   Resources mentioned in this episode: The Group Practice Exchange Programs + Courses The Accountability Equation™ Quiz   Connect with Maureen Werrbach & The Group Practice Exchange: Website Facebook Instagram LinkedIn   Connect with Niki Ramirez and HR Answers: HR Answers Website Niki's LinkedIn HR Answers Facebook    This episode is sponsored by TherapyNotes. TherapyNotes is an EHR software that helps behavioral health professionals manage their practice with confidence and efficiency. I use TherapyNotes in my own group practice and love its amazing support team, billing features, and scheduling capabilities. It serves us well as a large group practice owner.   Do you ever wish for a financial therapist who could relieve you from the last few months of bookkeeping, talk you off the edge when you're running into issues with Quickbooks, or help you work through a profit plan for growth? GreenOak Accounting does just that! GreenOak Accounting is an accounting firm that specializes in working with group practices. Their value goes WAY beyond bookkeeping; they can help you get on track for financial success. Schedule a free consultation by going to http://greenoakaccounting.com/tgpe  

Have you been diligently tracking metrics and setting goals for your practice, but are still stuck not seeing visible results?   In today's episode I took a deep dive into how to actually get your team to take action to make progress toward your practice's goals. Because success doesn't come from setting goals or tracking metrics; it comes as the result of the actions we take based on the information we gather.   In this episode, I focus on the importance of action in achieving our objectives as group practice owners. I discussed the significance of leadership meetings, not just as a formality, but as a platform to celebrate our successes, assess our journey, and activate our team for action. I also explain the need to distill our larger goals into smaller, more manageable tasks, setting quarterly and biweekly milestones to keep us on track. If you have some big goals for your group practice that you're ready to set in motion, join me to learn more about:   The role of action in driving tangible progress and results within a group practice Sharing an effective structure of leadership meetings that result in action taking How to regularly assess where your team stands in relation to practice goals to help maintain focus and direction Exploring the concept of breaking down large goals into smaller, manageable steps in your practice Examples of how a practice might use their accountability tracker including examples of yearly goals, quarterly goals, and biweekly action items   Remember that setting goals is just the beginning. It's the consistent, deliberate actions we take that will lead you to success in your group practice. Let's keep moving forward, one step at a time!   Thanks for listening! Like what you heard? Give us 5 stars on whatever platform you're listening from. Need extra support? Join The Exchange, a membership community just for group practice owners on our website www.thegrouppracticeexchange.com/exchange. Talk to you next time!   Resources mentioned in this episode: The Group Practice Exchange Programs + Courses The Accountability Equation™ Quiz   Connect with Maureen Werrbach & The Group Practice Exchange: Website Facebook Instagram LinkedIn   This episode is sponsored by TherapyNotes. TherapyNotes is an EHR software that helps behavioral health professionals manage their practice with confidence and efficiency. I use TherapyNotes in my own group practice and love its amazing support team, billing features, and scheduling capabilities. It serves us well as a large group practice owner.   Do you ever wish for a financial therapist who could relieve you from the last few months of bookkeeping, talk you off the edge when you're running into issues with Quickbooks, or help you work through a profit plan for growth? GreenOak Accounting does just that! GreenOak Accounting is an accounting firm that specializes in working with group practices. Their value goes WAY beyond bookkeeping; they can help you get on track for financial success. Schedule a free consultation by going to http://greenoakaccounting.com/tgpe

Have you ever wondered what it looks like to tackle implementing accountability in a growing group practice?    In this episode, I had a conversation with Abby Morgan, a fellow group practice owner who attended The Accountability Equation™ Accelerator in October. We dove deep into the complexities of instilling accountability within her expanding team at Sea Level Counseling & Wellness.   In our discussion, Abby opened up about the hurdles she's facing as her practice grows and roles within her practice change. We explored the critical role of clearly defining leadership roles and the shared responsibilities that come with them, particularly in the hiring process. This episode is a must-listen for anyone looking to enhance team performance and accountability through proactive communication and strategic leadership.   Join us to hear our chat where we covered: The significance of clear role definitions within a leadership team to ensure everyone knows their responsibilities. Strategies for effective hiring processes that align with your practice's accountability standards. The benefits of leadership rotation in promoting empathy and collaboration among team members. Emphasis on proactive communication and collaboration in addressing accountability issues. Abby's pledge to keep accountability discussions at the forefront, recognizing their importance for sustainable growth.   This conversation with Abby was incredibly insightful, highlighting that as leaders, we must be intentional about fostering a culture of accountability. It's not just about growth; it's about growing right. Remember, a team that understands their roles and responsibilities is a team that can thrive.    Thanks for listening! Like what you heard? Give us 5 stars on whatever platform you're listening from. Need extra support? Join The Exchange, a membership community just for group practice owners on our website www.thegrouppracticeexchange.com/exchange. Talk to you next time!   Resources mentioned in this episode: The Group Practice Exchange Programs + Courses The Accountability Equation™ Quiz   Connect with Maureen Werrbach & The Group Practice Exchange: Website Facebook Instagram LinkedIn   About Abby Morgan: Abby Morgan started her career in inpatient and community mental health after earning her Master of Social Work from Virginia Commonwealth University. With a passion for connecting with individuals with chronic mental illness, she later transitioned to private practice and outpatient clinics, where she witnessed the communication gaps among treatment providers and the neglect of work-life balance. In 2019, Abby founded Sea Level Counseling and Wellness with the mission of providing comprehensive trauma-informed services under one roof. Starting with a 1200 sq ft office and 1 employee, Sea Level Counseling and Wellness has grown to a 5100 sq ft space with 13 staff and 4 clinical partners, all trained in EMDR therapy. Looking ahead, Abby aims to establish a non-profit arm and expand community involvement through workshops and corporate wellness initiatives.   Connect with Abby Morgan: Website Instagram Facebook   This episode is sponsored by TherapyNotes. TherapyNotes is an EHR software that helps behavioral health professionals manage their practice with confidence and efficiency. I use TherapyNotes in my own group practice and love its amazing support team, billing features, and scheduling capabilities. It serves us well as a large group practice owner.   Do you ever wish for a financial therapist who could relieve you from the last few months of bookkeeping, talk you off the edge when you're running into issues with Quickbooks, or help you work through a profit plan for growth? GreenOak Accounting does just that! GreenOak Accounting is an accounting firm that specializes in working with group practices. Their value goes WAY beyond bookkeeping; they can help you get on track for financial success. Schedule a free consultation by going to http://greenoakaccounting.com/tgpe

In this episode, Julie Herres and her guest Davia Roberts discuss the differences between the nonprofit and corporate mindsets in the therapy field. They explore the challenges faced by therapists working in nonprofits, such as low pay, unrealistic expectations, and the guilt associated with prioritizing financial security. They also debunk the stigma around therapists transitioning from nonprofit to corporate settings.Financial Challenges in Nonprofit SettingsThe conversation highlights the financial challenges faced by therapists working in nonprofit settings. Many therapists in these settings are overworked and underpaid, with unrealistic workloads and limited resources. Struggles include making a living wage, paying off student loans, and the overall financial stress that impacts the well-being of therapists. On top of that, there is the guilt associated with charging higher fees for services, despite the value and importance of their work.The Impact of StigmaDavia highlights the perception that going corporate is seen as being greedy or money-focused, while nonprofit work is viewed as selfless and dedicated to helping others. The conversation challenges these stereotypes, pointing out the importance of financial security and acknowledging that therapists should not be expected to sacrifice their own well-being for their clients. They discuss the need to break free from the guilt and reframe the conversation around the value and worth of mental health services.Shifting the MindsetThe transition from a nonprofit mindset to a corporate or private practice mindset involves a critical evaluation of goals, motivations, and expectations. This process is crucial for therapists considering such a shift. They need to align their financial goals with their career aspirations, highlighting the significance of negotiating appropriate pay and understanding their worth. Additionally, the conversation addresses the necessity of financial planning and budgeting. Awareness of the seasonal fluctuations in income that can occur in an entrepreneurial or private practice setting is also a key aspect of this transition.LINKS & RESOURCESBook Recommendation: The Wealthy Speaker 3.0 More than a Therapist: Listen to the Podcast and join the community!GreenOak Accounting - www.GreenOakAccounting.comTherapy For Your Money Podcast - www.TherapyForYourMoney.comProfit First for Therapists - www.ProfitFirstForTherapists.comProfit First Academy - www.ProfitFirstForTherapists.com/AcademyPodcast Production and Show Notes by Course Creation StudioGet our free KPI tracker to see how you practice measures up to others in the industry! www.therapyforyourmoney.com/kpi

Do you want to create a culture of accountability within your group practice, but not sure exactly where to start?    In this episode, I share what true accountability looks like in your practice, and the first steps to take to begin setting up effective accountability practices. I explore how accountability is not just about keeping track of tasks, but about building a system that supports your team and your business.    If you're ready to take the first step to a thriving practice, join me to learn more about:   The importance of accountability in organizational culture and change management The five essential components of the accountability equation and the significance of each step in creating a holistic accountability structure Strategies for fostering effective communication, increasing engagement, and promoting teamwork Tips for managing roles and responsibilities within your practice Steps you can take right now to begin creating a culture of clarity, collaboration, and success   As you listen to this episode, I encourage you to take a moment to reflect on your own accountability structures. Are they serving you and your team effectively?    If not, I invite you to take our quiz to assess your accountability needs and consider joining our upcoming group cohort. Remember, the accountability equation is more than a tool—it's a pathway to fostering a culture of clarity, collaboration, and growth in your group practice.   Thanks for listening! Like what you heard? Give us 5 stars on whatever platform you're listening from. Need extra support? Join The Exchange, a membership community just for group practice owners on our website www.thegrouppracticeexchange.com/exchange. Talk to you next time!   Resources mentioned in this episode: The Group Practice Exchange Programs + Courses The Accountability Equation™ Quiz   Connect with Maureen Werrbach & The Group Practice Exchange: Website Facebook Instagram LinkedIn   This episode is sponsored by TherapyNotes. TherapyNotes is an EHR software that helps behavioral health professionals manage their practice with confidence and efficiency. I use TherapyNotes in my own group practice and love its amazing support team, billing features, and scheduling capabilities. It serves us well as a large group practice owner.   Do you ever wish for a financial therapist who could relieve you from the last few months of bookkeeping, talk you off the edge when you're running into issues with Quickbooks, or help you work through a profit plan for growth? GreenOak Accounting does just that! GreenOak Accounting is an accounting firm that specializes in working with group practices. Their value goes WAY beyond bookkeeping; they can help you get on track for financial success. Schedule a free consultation by going to http://greenoakaccounting.com/tgpe

Episode Summary:In this episode, Maira Holzmann and Julie Herres delve deep into the intricacies of managing finances in the world of therapy practice. They discuss the challenges and revelations they've faced, from reevaluating their perceptions of debt to the importance of joy spotting amidst the stresses of business. Maira shares her transformative journey with money, emphasizing the need for prioritization and respect in handling finances. Julie offers insights into the dual-edged nature of business ownership, highlighting the balance between control and uncertainty.Episode Highlights:Talk very plainly about fears. This clears the way for growth.  The shift in perception regarding debt, recognizing it not just as a burden but also as a potential tool for growth.Look for joy: Maira's technique of “joy spotting” and savoring what you have right now as a means to alleviate the stresses of business, emphasizes its physiological benefits.Embrace what you love: Embrace simple small pleasures like reading, cooking, or taking care of what you have. Links and Resources:More Thriving Therapists Somatic Therapy partners GreenOak Accounting - www.GreenOakAccounting.comTherapy For Your Money Podcast - www.TherapyForYourMoney.comProfit First for Therapists - www.ProfitFirstForTherapists.comProfit First Academy - www.ProfitFirstForTherapists.com/AcademyPodcast Production and Show Notes by Course Creation StudioGet our free KPI tracker to see how you practice measures up to others in the industry! www.therapyforyourmoney.com/kpi

Have you ever experienced a time when achieving success didn't lead to the fulfillment and joy you sought?   In this episode, I have a heart-to-heart with Kasey Compton, a therapist, self-love advocate, and accomplished entrepreneur who has led four thriving businesses, propelling her mental health practice into multi-million-dollar territory. We chat about her latest book "In Search of You", which mirrors Kasey's personal quest for meaning beyond success. During our conversation, we uncover how her journey of self-discovery has enriched both her business and personal life.   Here's a snapshot of what we covered in our conversation: Kasey opens up about the life experiences that led her to write "In Search of You," sharing her path as a high-achieving woman in search of something more fulfilling. The importance of self-love and introspection when it comes to achieving fulfillment amidst the pursuit of success. We delve into the core message of the book, which encourages women to embark on their own journeys of self-discovery to find deeper satisfaction in life. Kasey's approach to writing the book, including the challenges she faced and how she overcame them to bring her story to the page.   It was truly inspiring to hear Kasey's story and her mission to empower other women through her writing. If you're on a quest for personal fulfillment or know someone who is, I encourage you to read Kasey's book "In Search of You". Remember, it's not just about what you achieve, but who you become in the process.   Thanks for listening! Like what you heard? Give us 5 stars on whatever platform you're listening from. Need extra support? Join The Exchange, a membership community just for group practice owners on our website www.thegrouppracticeexchange.com/exchange. Talk to you next time!   Resources mentioned in this episode: "In Search of You" by Kasey Compton Vitamin Patch Club   Connect with Kasey Compton: Website Facebook Instagram   Connect with Maureen Werrbach & The Group Practice Exchange: Website Facebook Instagram LinkedIn   This episode is sponsored by TherapyNotes. TherapyNotes is an EHR software that helps behavioral health professionals manage their practice with confidence and efficiency. I use TherapyNotes in my own group practice and love its amazing support team, billing features, and scheduling capabilities. It serves us well as a large group practice owner.   Do you ever wish for a financial therapist who could relieve you from the last few months of bookkeeping, talk you off the edge when you're running into issues with Quickbooks, or help you work through a profit plan for growth? GreenOak Accounting does just that! GreenOak Accounting is an accounting firm that specializes in working with group practices. Their value goes WAY beyond bookkeeping; they can help you get on track for financial success. Schedule a free consultation by going to http://greenoakaccounting.com/tgpe

Have you ever wondered what mistakes you might be making in your group practice?     I'm no stranger to the challenges that come with running a group practice. Trust me, I've made my fair share of blunders along the way. In this episode, I get real with you about some of the less glamorous sides of group practice ownership as I share the top ten mistakes that I've made as a group practice owner. I also tell you all about the insights and lessons I've learned so you can sidestep these common pitfalls.      Here are some of the key topics I dive into: The importance of having clear systems and processes in place Learning to delegate and not micromanage your team The significance of consistent and effective communication Understanding the financial aspects of running a group practice Recognizing the value of investing in your staff's development Navigating the complexities of marketing a group practice   So if you want to learn from my experiences (the good, the bad, and the ugly), then this episode is a must-listen. I promise it's packed with value and maybe even a few laughs at my expense.     My hope is that by sharing my own missteps, you'll be able to navigate the management of your group practice with greater confidence and success. Because on our leadership journey, we'll all make mistakes, but it's how we learn from them that truly counts.     Thanks for listening! Like what you heard? Give us 5 stars on whatever platform you're listening from. Need extra support? Join The Exchange, a membership community just for group practice owners on our website www.thegrouppracticeexchange.com/exchange. Talk to you next time!     Resources mentioned in this episode: Book - Radical Candor by Kim Scott Book - Traction by Gino Wickman     Connect with Maureen Werrbach & The Group Practice Exchange: Website Facebook Instagram LinkedIn       This episode is sponsored by TherapyNotes. TherapyNotes is an EHR software that helps behavioral health professionals manage their practice with confidence and efficiency. I use TherapyNotes in my own group practice and love its amazing support team, billing features, and scheduling capabilities. It serves us well as a large group practice owner.   Do you ever wish for a financial therapist who could relieve you from the last few months of bookkeeping, talk you off the edge when you're running into issues with Quickbooks, or help you work through a profit plan for growth? GreenOak Accounting does just that! GreenOak Accounting is an accounting firm that specializes in working with group practices. Their value goes WAY beyond bookkeeping; they can help you get on track for financial success. Schedule a free consultation by going to http://greenoakaccounting.com/tgpe

In this episode, Patrick is joined by special guest Julie Herres, CEO of GreenOak Accounting, specifically designed for therapists and counselors in private practice. Some Key Takeaways: 1. Financial Insecurity in Private Practice: Many therapists and counselors struggle with feeling guilty about making money in the mental health field, which can lead to undercharging for services and not paying themselves a fair wage. This episode addresses the importance of therapists being able to make a good living and feel comfortable with their finances, offering practical tips and advice on aligning business revenue with personal financial needs. 2. Lack of Financial Knowledge: Private practice owners may feel overwhelmed by the complexities of managing their finances, including filing taxes and making important financial decisions for their practice. The podcast episode discusses the significance of working with a professional team, such as a tax professional, to prevent costly mistakes and ensure the sustainability of the business. 3. Pricing and Fee Setting Challenges: Many practice owners may struggle with determining their rates and setting fees for services due to comparing themselves to others or feeling pressured to conform to standard market rates. This episode advocates for setting rates based on individual financial needs and lifestyle goals, emphasizing the importance of staying true to oneself and making business decisions that align with personal goals. ------------------------------------------------------------------------------------------ Julie, an accountant and enrolled agent, is the author of "Profit First For Therapists" https://www.greenoakaccounting.com/compensation-strategies –––––––––––––––––––––––––––––––––––––––––––––––––––––––––

Calculating insurance benefits and submitting insurance claims can often be a major pain point for both clients and group practice owners. But not anymore!   I am so excited to share a new tool that I've been using to take this burden off our shoulders: Mentaya. In this episode, I had the pleasure of chatting with Christine Li, the founder and CEO of Mentaya. We delved into how Mentaya's features, like the instant benefits calculator and automated claim submission, are revolutionizing the reimbursement process, making it easier for therapists to manage private pay clients and for clients to get reimbursed. If you're looking to streamline the claim submission process for your practice, you won't want to miss this episode. Here's a snapshot of what we covered in our conversation: Christine shared her transition from Google to founding Mentaya, driven by a desire to make mental health care more accessible and manageable. How Mentaya's platform is designed to alleviate the administrative burden on therapists and clients dealing with out-of-network benefits. Highlighting how Mentaya's instant benefits calculator and automated claim submission service streamlines the reimbursement process. I share my own experience with Mentaya in my practice, noting how it has positively impacted my ability to attract and retain private pay clients. Christine's work with Mentaya is a testament to the power of innovation in making therapy more accessible and less daunting for everyone involved. Don't forget to take advantage of the promo code for your free trial and experience the difference for yourself!   Thanks for listening! Like what you heard? Give us 5 stars on whatever platform you're listening from. Need extra support? Join The Exchange, a membership community just for group practice owners on our website www.thegrouppracticeexchange.com/exchange. Talk to you next time!   Resources mentioned in this episode: Try Mentaya for free with code “TGPE” The Exchange Membership   Connect with Maureen Werrbach & The Group Practice Exchange: Website Facebook Instagram LinkedIn   This episode is sponsored by TherapyNotes. TherapyNotes is an EHR software that helps behavioral health professionals manage their practice with confidence and efficiency. I use TherapyNotes in my own group practice and love its amazing support team, billing features, and scheduling capabilities. It serves us well as a large group practice owner.   Do you ever wish for a financial therapist who could relieve you from the last few months of bookkeeping, talk you off the edge when you're running into issues with Quickbooks, or help you work through a profit plan for growth? GreenOak Accounting does just that! GreenOak Accounting is an accounting firm that specializes in working with group practices. Their value goes WAY beyond bookkeeping; they can help you get on track for financial success. Schedule a free consultation by going to http://greenoakaccounting.com/tgpe

Have you ever wondered what it takes to be a visionary leader in group practice?   In this episode, I dive deep into the transformative power of visionary leadership in group practice. I walk you through the shift from being clinician-centric to becoming a visionary at the helm of your business, explore the hurdles you might face in staying true to your visionary path, and highlight the immense benefits that visionary leadership can bring to your business's growth and your team's cohesion. Here are the key topics I covered in this episode:   The transition that leaders need to make from focusing solely on clinical work to adopting a broader, visionary approach to running their practices. Common challenges that come with maintaining a visionary focus, including balancing day-to-day operations with long-term strategic planning. The positive impact of visionary leadership on business performance, including improved decision-making, innovation, and team engagement. Introduction of Visionary Magazine, a publication dedicated to empowering group practice leaders to think and act like visionaries. Sharing how I prioritize and structure time for visionary work.    By nurturing your role as a visionary, you'll be better equipped to inspire your team and steer your practice toward a future filled with success and fulfillment. Remember, being a visionary isn't just about having a dream; it's about making that dream a reality for you, your team, and your practice.   Thanks for listening! Like what you heard? Give us 5 stars on whatever platform you're listening from. Need extra support? Join The Exchange, a membership community just for group practice owners on our website www.thegrouppracticeexchange.com/exchange. Talk to you next time!   Resources mentioned in this episode: The Visionary Magazine The Exchange Membership   Connect with Maureen Werrbach & The Group Practice Exchange: Website Facebook Instagram LinkedIn   This episode is sponsored by TherapyNotes. TherapyNotes is an EHR software that helps behavioral health professionals manage their practice with confidence and efficiency. I use TherapyNotes in my own group practice and love its amazing support team, billing features, and scheduling capabilities. It serves us well as a large group practice owner.   Do you ever wish for a financial therapist who could relieve you from the last few months of bookkeeping, talk you off the edge when you're running into issues with Quickbooks, or help you work through a profit plan for growth? GreenOak Accounting does just that! GreenOak Accounting is an accounting firm that specializes in working with group practices. Their value goes WAY beyond bookkeeping; they can help you get on track for financial success. Schedule a free consultation by going to http://greenoakaccounting.com/tgpe

Sign up for the FREE Masterclass - From Solo to Super Team: How to Build a 7 Figure Group Practice → https://members.mccancemethod.com/masterclass-registration/ In this episode, CEO of Green Oak Accounting Julie Herres discusses her formula to profit success. Julie shares all her tips on how to manage your money to your advantage!Make sure to bring your paper and pen because this episode is full of actionable tips!Here are some key points in this episode: [3:32] What is profit first?[6:12] The 6 foundational bank accounts you need[12:32] Let's talk about profit![19:45] First step for following the profit first model[21:11] What sets Millionaires apart from the rest Links From Episode: Book and Free Calculator:  https://www.profitfirstfortherapists.com/nicoleTherapy for your money Podcast: https://podcasts.apple.com/ca/podcast/therapy-for-your-money/id1524720486 More about Julie: Julie Herres is the founder and CEO of GreenOak Accounting, a firm that exclusively serves therapists, psychologists, and counselors in private practice across the United States. Over the years, Julie and her team have worked with hundreds of private practice owners and developed serious knowledge about what makes a practice financially successful. GreenOak's goal is to help practice owners feel comfortable with the financial side of their businesses and have profitable practices. Some of the firm's biggest success stories were achieved through implementing Profit First. Julie is an accountant and an enrolled agent (EA). She is also a speaker and the host of the Therapy for Your Money podcast. Websites: Greenoak Accounting - https://www.greenoakaccounting.com/ Social Media Links: Instagram - @greenoakacctHow We Can Work Together:Book a Practice Growth Audit Call - https://members.mccancemethod.com/practice-growth-audit/Here is How to Subscribe & Leave a Review (pretty-please): Want to get notifications when I release new episodes so you don't miss out on anything?Follow my show on Apple Podcasts by going to The Business Savvy Therapist and tapping the + Follow button or by tapping the More button (the three dots) and tapping Follow Show. Please leave a rating and a review, it would mean the world to me. Let me know what you think of the podcast and what I can do to make it better for you. You can lFollow me on Instagram, @nicole.mccanncemethod. If this episode provided you with value and inspiration, please leave a review and DM to let me know. Click here: https://www.instagram.com/nicole.mccancemethod Join the FREE private community for therapists: Expand your Psychotherapy Practice → https://www.facebook.com/groups/947689352498639 Sign up for the FREE Masterclass - From Solo to Super Team: How to Build a 7 Figure Group Practice → https://members.mccancemethod.com/masterclass-registration/

We've got an exciting new episode of our Live Stream Launch Party Series! On May 2nd, 2023, Julie released her book, Profit First for Therapists. We threw a huge online launch party with GreenOak Accounting team members, real practice owners who tell their stories in the book, and the original creator of Profit First, Mike Michalowicz to celebrate this exciting event. We wanted to share the stories told during our launch event with our podcast listeners so you could be part of the celebration with us!On today's episode, we're joined by none other than the creator of Profit First, Mike Michalowicz! Julie chats with Mike about her experience writing Profit First for Therapists and the impact it's had on the therapy community, as well as some exciting new projects that Mike has in the works.Check out the new book by Mike Michalowicz:All InLINKS & RESOURCESGreenOak Accounting - www.GreenOakAccounting.comTherapy For Your Money Podcast - www.TherapyForYourMoney.comProfit First for Therapists - www.ProfitFirstForTherapists.comProfit First Academy - www.ProfitFirstForTherapists.com/Academy

Have you ever received a subpoena and weren't quite sure how to handle it?  In this episode, I had the pleasure of interviewing Dr. Tracy Masiello, a group practice owner and certified mediator, about handling subpoenas as a group practice owner. We discussed the importance of clear policies, procedures, and training for clinicians to effectively manage subpoenas. Dr. Masiello also debunked subpoena myths, explained the consequences of ignoring subpoenas, and provided guidance on how to respond to them. Join us to learn more about: The importance of having clear policies, procedures, and training in place for handling subpoenas in a group practice setting. Debunking common myths surrounding subpoenas and clarifying the consequences of ignoring them. Guidance on how to respond to subpoenas effectively and ethically. Understanding the ethical considerations when testifying or sharing client records. The difference between being a fact witness and an expert witness in legal proceedings. If you're a group practice owner or clinician, this episode is a must-listen for valuable insights on managing subpoenas. Don't forget to check out the resources shared by Dr. Masiello for further learning and support. Thanks for listening! Like what you heard? Give us 5 stars on whatever platform you're listening from. Need extra support? Join The Exchange, a membership community just for group practice owners on our website www.thegrouppracticeexchange.com/exchange. Talk to you next time! Resources mentioned in this episode: Resolution Academy Website Connect with Maureen Werrbach & The Group Practice Exchange: Website Facebook Instagram LinkedIn   This episode is sponsored by TherapyNotes. TherapyNotes is an EHR software that helps behavioral health professionals manage their practice with confidence and efficiency. I use TherapyNotes in my own group practice and love its amazing support team, billing features, and scheduling capabilities. It serves us well as a large group practice owner. Do you ever wish for a financial therapist who could relieve you from the last few months of bookkeeping, talk you off the edge when you're running into issues with Quickbooks, or help you work through a profit plan for growth? GreenOak Accounting does just that! GreenOak Accounting is an accounting firm that specializes in working with group practices. Their value goes WAY beyond bookkeeping; they can help you get on track for financial success. Schedule a free consultation by going to http://greenoakaccounting.com/tgpe  

Setting Effective Financial Goals for 2024In this episode of 'Therapy for Your Money', host Julie Herres discusses tips on how to make 2024 the most productive financial year yet for private practice owners. She encourages listeners to evaluate previous successes and align future goals with their personal ambitions, focusing on both financial and non-financial targets. Additionally, she emphasizes the effectiveness of setting SMART goals. Finally, she announces an upcoming 'Make 2024 Your Best Year Yet Workshop' where attendees can work on their goals and financial plans.Aligning Personal Goals with Financial Goals: When setting financial goals, it's essential to align them with your personal aspirations. While having a revenue target can be motivating, it's equally important to consider what truly matters to you. Increasing your take-home pay or achieving a better work-life balance may be more significant than merely attaining a specific revenue milestoneThe 10X Goal Mindset: Embracing the 10X goal mindset can be transformative. It challenges you to rethink everything in your business. Setting a goal that is significantly beyond your current position forces you to examine what needs to change to make that goal possible.Putting Goals into Action: Once your goals are set, it's time to develop a plan to achieve them. Utilize the SMART goal framework – Specific, Measurable, Achievable, Relevant, and Time-bound. By creating goals that meet these criteria, you can clearly track your progress and make necessary adjustments along the way.Monitoring Progress and Making Adjustments: Regularly review your progress and ensure that you're on track to achieve your goals. At the end of each month, evaluate your outcomes and make any necessary adjustments.Conclusion:As we enter a new year, take the time to set financial goals that align with your personal aspirations. Reflect on your past accomplishments, consider audacious 10X goals, and develop a plan using the SMART goal framework. By setting clear and actionable goals, you can make 2024 your best year yet. Remember, your financial success is within reach when you combine intentionality, strategic planning, and the drive to reach new heights.LINKS & RESOURCESWorkshop: Make 2024 your best year yet!GreenOak Accounting - www.GreenOakAccounting.comTherapy For Your Money Podcast - www.TherapyForYourMoney.comProfit First for Therapists - www.ProfitFirstForTherapists.comProfit First Academy - www.ProfitFirstForTherapists.com/AcademyPodcast Production and Show Notes by Course Creation Studio

Have you ever considered expanding the services offered in your group practice beyond one-on-one counseling?    Expanding services in a group practice can be a game-changer. In this rerelease episode, I discuss the benefits of doing just that - specifically offering CEs (Continuing Education) and/or training in the community. As a group practice owner myself, I have found that diversifying our services has not only increased our revenue but also reduced burnout among our team members. Join me to learn more about:   Benefits of becoming CE providers in your group practice Offering CEs to the community or therapists while making sure it aligns with your business values Considering questions like: Who will be the training providers? and Who will run and spearhead the program? Realistic timelines to build, market, and reach the break-even point Steps to screen candidates to ensure the quality and relevance of the training   Expanding services in a group practice can have numerous benefits. By offering workshops, webinars, and speaking engagements, you not only diversify your services but also provide opportunities for your team members to be paid for their presentations. Building a profitable program takes time and effort, but the financial benefits can be well worth it.   Thanks for listening! Like what you heard? Give us 5 stars on whatever platform you're listening from. Need extra support? Join The Exchange, a membership community just for group practice owners on our website www.thegrouppracticeexchange.com/exchange. Talk to you next time!   Connect with Maureen Werrbach & The Group Practice Exchange: Website Facebook Instagram LinkedIn   This episode is sponsored by TherapyNotes. TherapyNotes is an EHR software that helps behavioral health professionals manage their practice with confidence and efficiency. I use TherapyNotes in my own group practice and love its amazing support team, billing features, and scheduling capabilities. It serves us well as a large group practice owner.   Do you ever wish for a financial therapist who could relieve you from the last few months of bookkeeping, talk you off the edge when you're running into issues with Quickbooks, or help you work through a profit plan for growth? GreenOak Accounting does just that! GreenOak Accounting is an accounting firm that specializes in working with group practices. Their value goes WAY beyond bookkeeping; they can help you get on track for financial success. Schedule a free consultation by going to http://greenoakaccounting.com/tgpe

Welcome to the Pursuing Private Practice Podcast! Join Jennifer and fellow CEO Julie Herres of GreenOak Accounting as they discuss the importance of looking into the data, the different methods of paying yourself based on your stage of business, and how to reverse engineer your practice to give you the life you want. Join the conversation as they discuss: Profit First and Prioritization: Implementing the "Profit First" system can have a significant impact on a business. It underscores the importance of prioritizing profit and being intentional about financial management. This approach can lead to a transformation in the way a business operates. Stages of Business: Business ownership involves distinct stages, each with its own financial dynamics. Solopreneurs, small group practices, and large group practices have varying approaches to paying themselves and managing their businesses. Understanding these stages and their financial needs is crucial. Niche Focus and Streamlining: Working within a niche and creating a repeatable, streamlined business model can lead to success. The owner's experience underscores the benefits of focusing on a specific market or service and avoiding the constant reinvention of the business model. Adaptability and Data Analysis: The ability to adapt and make data-driven decisions is vital for sustainable business growth. Business owners should not shy away from looking at financial data and should be open to evolving and adapting their practices as circumstances change. Investing in Growth and Balance: To achieve long-term success, business owners should invest in both personal and business growth. It's important to find a balance that aligns with their financial and lifestyle goals, ensuring that the business serves their needs and is sustainable in the long run. Remember, your decisions are not set in stone. You can evolve and adapt as your private practice and profit grows. Julie Herres is the founder and CEO of GreenOak Accounting, a firm that exclusively serves therapists, psychologists, and counselors in private practice across the United States. Over the years, Julie and her team have worked with hundreds of private practice owners and developed serious knowledge about what makes a practice financially successful. GreenOak's goal is to help practice owners feel comfortable with the financial side of their businesses and have profitable practices. Some of the firm's biggest success stories were achieved through implementing Profit First. Julie is an accountant and an enrolled agent (EA). She is also a speaker and the host of the Therapy for Your Money podcast. Connect with Julie on Instagram. Connect with Pursuing Private Practice on Instagram If you want to set up your business, start to see your first few clients and grow to create more impact, Business School is for you! This transformative program includes education, connection, support, and accountability to help you take up space and become the business owner you were meant to be.

Have you ever wondered how to personalize retirement benefits for your employees?  In this episode, I had the pleasure of chatting with Courtenay Shipley, a business retirement plan owner, about just that. We dive into different retirement plans like 401(k)s, IRAs, SIMPLE IRAs, and SEP IRAs, and discuss the importance of tailoring these plans to specific groups. Courtenay also shares insights on profit sharing and the safe harbor plan design. Listen in to learn more about: The importance of personalizing retirement benefits for employees Exploring different retirement plans like 401(k)s, IRAs, SIMPLE IRAs, and SEP IRAs Benefits of profit sharing and the safe harbor plan design Limitations of payroll companies like Gusto for managing benefits Alternative options like Guideline and Vestwell for managing retirement plans If you're looking to provide the best retirement benefits for your staff, this episode is a must-listen. Join us as we dive into the world of retirement plans and discover how to tailor them to your practice's specific needs. Let's make benefit planning a breeze! Thanks for listening! Like what you heard? Give us 5 stars on whatever platform you're listening from. Need extra support? Join The Exchange, a membership community just for group practice owners on our website www.thegrouppracticeexchange.com/exchange. Talk to you next time! Resources mentioned in this episode: Retirement Planology website IRS Website for for SIMPLE IRAs Gusto Guideline Vestwell Vanguard Connect with Maureen Werrbach & The Group Practice Exchange: Website Facebook Instagram LinkedIn   This episode is sponsored by TherapyNotes. TherapyNotes is an EHR software that helps behavioral health professionals manage their practice with confidence and efficiency. I use TherapyNotes in my own group practice and love its amazing support team, billing features, and scheduling capabilities. It serves us well as a large group practice owner. Do you ever wish for a financial therapist who could relieve you from the last few months of bookkeeping, talk you off the edge when you're running into issues with Quickbooks, or help you work through a profit plan for growth? GreenOak Accounting does just that! GreenOak Accounting is an accounting firm that specializes in working with group practices. Their value goes WAY beyond bookkeeping; they can help you get on track for financial success. Schedule a free consultation by going to http://greenoakaccounting.com/tgpe  

We've got an exciting new episode of our Live Stream Launch Party Series! On May 2nd, 2023, Julie released her book, Profit First for Therapists. We threw a huge online launch party with GreenOak Accounting team members, real practice owners who tell their stories in the book, and the original creator of Profit First, Mike Michalowicz to celebrate this exciting event. We wanted to share the stories told during our launch event with our podcast listeners so you could be part of the celebration with us!  On today's episode, we're joined by Jessica Tappana, Whitney Owens, Uriah Guilford, and Gordon Brewer! These industry leaders have expanded their businesses from private practice to podcasting to consulting and so much more. They were so excited to share their stories with our Launch Party viewers, and are even more excited to share with our podcast listeners today. LINKS & RESOURCES GreenOak Accounting - www.GreenOakAccounting.com Therapy For Your Money Podcast - www.TherapyForYourMoney.com Profit First for Therapists - www.ProfitFirstForTherapists.com Profit First Academy - www.ProfitFirstForTherapists.com/Academy

Have you been considering how you can effectively employ part-time and full-time clinicians in your practice?  In this episode, I delve into the benefits and challenges of hiring part-time and full-time clinicians. I share my personal experience of starting my practice with part-time clinicians and how it has impacted work-life balance expectations. Join me to learn more about: The importance of considering factors such as workplace culture, income, benefits, burnout, and personal fulfillment when employing clinicians. The shift in work-life balance expectations due to COVID-19 and how it has influenced the trend of more people seeking part-time employment. The benefits of offering part-time options, such as attracting a wider pool of talent and providing flexibility for clinicians. The challenges of managing schedules and maintaining consistency in client care with part-time clinicians. The importance of maintaining transparency with staff about the impact of offering part-time options.   Employing part-time and full-time clinicians in your practice can bring both benefits and challenges. By carefully considering factors such as workplace culture and maintaining transparency with staff, you can create a balanced and fulfilling work environment for your clinicians. Connect with Maureen Werrbach & The Group Practice Exchange: Website Facebook Instagram LinkedIn   This episode is sponsored by TherapyNotes. TherapyNotes is an EHR software that helps behavioral health professionals manage their practice with confidence and efficiency. I use TherapyNotes in my own group practice and love its amazing support team, billing features, and scheduling capabilities. It serves us well as a large group practice owner. Do you ever wish for a financial therapist who could relieve you from the last few months of bookkeeping, talk you off the edge when you're running into issues with Quickbooks, or help you work through a profit plan for growth? GreenOak Accounting does just that! GreenOak Accounting is an accounting firm that specializes in working with group practices. Their value goes WAY beyond bookkeeping; they can help you get on track for financial success. Schedule a free consultation by going to http://greenoakaccounting.com/tgpe

Have you ever wondered how insurance companies are impacting the mental health industry?  In this episode, I dive into the influence of insurance companies in group practice. Insurance companies are moving away from paying based on the duration of therapy sessions and towards paying for the quality of care provided. This shift could potentially result in lower reimbursements for therapists, unless we advocate for how values-based care should be reimbursed. Additionally, I discuss the trend of insurance companies owning group practices, which gives them control over therapist compensation and allows them to increase profits. It's important for us as mental health practitioners to understand and adapt to these changes in order to thrive in the evolving landscape. Join me to learn more about: The shift from duration-based reimbursement to values-based reimbursement by insurance companies The importance of advocating for fair reimbursement rates and how measurement of care should be based The trend of insurance companies owning group practices and its impact on therapist compensation As group practice owners, it's crucial for us to stay informed and proactive in navigating the influence of insurance companies in group practice. By understanding these changes and advocating for fair reimbursement, we can continue to provide quality care to our clients while also ensuring the sustainability of our practices. Connect with Maureen Werrbach & The Group Practice Exchange: Website Facebook Instagram LinkedIn This episode is sponsored by TherapyNotes. TherapyNotes is an EHR software that helps behavioral health professionals manage their practice with confidence and efficiency. I use TherapyNotes in my own group practice and love its amazing support team, billing features, and scheduling capabilities. It serves us well as a large group practice owner. Do you ever wish for a financial therapist who could relieve you from the last few months of bookkeeping, talk you off the edge when you're running into issues with Quickbooks, or help you work through a profit plan for growth? GreenOak Accounting does just that! GreenOak Accounting is an accounting firm that specializes in working with group practices. Their value goes WAY beyond bookkeeping; they can help you get on track for financial success. Schedule a free consultation by going to http://greenoakaccounting.com/tgpe

How can you make your group practice stand out in a crowded marketplace?   In this episode, I dive into the importance of differentiation when it comes to marketing your practice and share my favorite insights from Mike Michalowicz's book, "Get Different". Small changes can make a big impact when it comes to marketing your practice. Here are the key takeaways from the episode that you won't want to skip: Why differentiation is crucial in a crowded marketplace The three key concepts to make sure you're including in your marketing How even small changes can set your practice apart from the competition Sharing my favorite successful marketing strategies for my group practice  Don't miss out on the opportunity to make your group practice shine. Tune in to this episode and start implementing fresh and innovative marketing ideas today.   Thanks for listening! Like what you heard? Give us 5 stars on whatever platform you're listening from. Need extra support? Join The Exchange, a membership community just for group practice owners on our website www.thegrouppracticeexchange.com/exchange. Talk to you next time!   Resources mentioned in this episode: Get Different: Marketing That Can't Be Ignored! by Mike Michalowicz   Connect with Maureen Werrbach & The Group Practice Exchange: Website Facebook Instagram LinkedIn   This episode is sponsored by TherapyNotes. TherapyNotes is an EHR software that helps behavioral health professionals manage their practice with confidence and efficiency. I use TherapyNotes in my own group practice and love its amazing support team, billing features, and scheduling capabilities. It serves us well as a large group practice owner.   Do you ever wish for a financial therapist who could relieve you from the last few months of bookkeeping, talk you off the edge when you're running into issues with Quickbooks, or help you work through a profit plan for growth? GreenOak Accounting does just that! GreenOak Accounting is an accounting firm that specializes in working with group practices. Their value goes WAY beyond bookkeeping; they can help you get on track for financial success. Schedule a free consultation by going to http://greenoakaccounting.com/tgpe

Have you ever wondered how to effectively incorporate anti-oppression into your accountability practices?  In this episode, Dr. Nathalie Edmond and I dive deep into this important topic. We discuss the significance of going beyond one-time trainings and integrating accountability into the very fabric of your practice. We also explore the challenges of putting theory into practice when it comes to anti-racism and anti-oppression work. Additionally, we touch on the importance of inclusive leadership teams, humanizing policies, and evaluating performance through an anti-oppression lens. If you're looking for resources and trainings to support your journey towards creating an inclusive and accountable practice, Dr. Edmond has got you covered. Join us to learn more about: - The importance of integrating anti-oppression into accountability practices - Moving from theory to practice in anti-racism and anti-oppression work - The need for ongoing evaluation and adjustment - Creating inclusive leadership teams - Developing humanizing policies - Evaluating performance through an anti-oppression lens If you're ready to take your practice to the next level and create a truly inclusive and accountable environment, this episode is a must-listen. Dr. Edmond's expertise and resources will provide you with the guidance and support you need to work towards accountability practices that are more equitable for all. Thanks for listening! Like what you heard? Give us 5 stars on whatever platform you're listening from. Need extra support? Join The Exchange, a membership community just for group practice owners on our website www.thegrouppracticeexchange.com/exchange. Talk to you next time!   Resources mentioned in this episode: Dr. Nathalie Edmond's Website Radical Candor by Kim Scott Wheel of Privilege and Power JOIN WAITLIST for The Accountability Equation™ In-Person 2-Day Accelerator   Connect with Maureen Werrbach & The Group Practice Exchange: Website Facebook Instagram LinkedIn   This episode is sponsored by TherapyNotes. TherapyNotes is an EHR software that helps behavioral health professionals manage their practice with confidence and efficiency. I use TherapyNotes in my own group practice and love its amazing support team, billing features, and scheduling capabilities. It serves us well as a large group practice owner. Do you ever wish for a financial therapist who could relieve you from the last few months of bookkeeping, talk you off the edge when you're running into issues with Quickbooks, or help you work through a profit plan for growth? GreenOak Accounting does just that! GreenOak Accounting is an accounting firm that specializes in working with group practices. Their value goes WAY beyond bookkeeping; they can help you get on track for financial success. Schedule a free consultation by going to http://greenoakaccounting.com/tgpe

Have you ever thought about leveraging grant funding to make your practice's services more accessible to all? Join me as I sit down with Dr. Omolara Uwemedimo, a pediatrician and the owner of Melanin and Medicine. In this episode, Dr. Uwemedimo sheds light on the innovative concept of fiscal sponsorship and how it can help group practices secure funding through partnerships with nonprofits. During our chat we cover: Dr. Uwemedimo's background in global health and passion for making healthcare accessible. Explanation of leveraging grants for for-profit healthcare practices. Benefits of fiscal sponsorship for both for-profit practices and nonprofit sponsors. How Melanin and Medicine helps healthcare practices secure funding through partnerships with nonprofits. Steps involved in securing funding, including identifying target population, curating a database of nonprofits, and preparing proposals. Stories of how other group practice owners successfully accessed grant funding. Dr. Omolara Uwemedimo's innovative approach to funding is a game-changer for for-profit practices looking to serve underserved communities. By leveraging grants and fostering partnerships with nonprofits, you can secure the funding you need to expand your services and make healthcare more accessible to all. Thanks for listening! Like what you heard? Give us 5 stars on whatever platform you're listening from. Need extra support? Join The Exchange, a membership community just for group practice owners on our website www.thegrouppracticeexchange.com/exchange. Talk to you next time!   Resources mentioned in this episode: Melanin and Medicine Links   Connect with Maureen Werrbach & The Group Practice Exchange: Website Facebook Instagram LinkedIn   This episode is sponsored by TherapyNotes. TherapyNotes is an EHR software that helps behavioral health professionals manage their practice with confidence and efficiency. I use TherapyNotes in my own group practice and love its amazing support team, billing features, and scheduling capabilities. It serves us well as a large group practice owner. Do you ever wish for a financial therapist who could relieve you from the last few months of bookkeeping, talk you off the edge when you're running into issues with Quickbooks, or help you work through a profit plan for growth? GreenOak Accounting does just that! GreenOak Accounting is an accounting firm that specializes in working with group practices. Their value goes WAY beyond bookkeeping; they can help you get on track for financial success. Schedule a free consultation by going to http://greenoakaccounting.com/tgpe

We're starting an exciting new series today, our Live Stream Launch Party Series! On May 2nd, 2023, Julie released her book, Profit First for Therapists. We threw a huge online launch party with GreenOak Accounting team members, real practice owners who tell their stories in the book, and the original creator of Profit First, Mike Michalowicz to celebrate this exciting event. We wanted to share the stories told during our launch event with our podcast listeners so you could be part of the celebration with us!On today's episode, we're joined by three wonderful members of the GreenOak Accounting team - Kelly Jewell, Carolyn Chrestman, and Misstie Pollard. They share their experiences helping clients implement the Profit First methodology into their practices, and some tried and true tricks of the trade to get started!LINKS & RESOURCESGreenOak Accounting - www.GreenOakAccounting.comTherapy For Your Money Podcast - www.TherapyForYourMoney.comProfit First for Therapists - www.ProfitFirstForTherapists.comProfit First Academy - www.ProfitFirstForTherapists.com/Academy

Do your leadership meetings ever feel like just a status update, with no real progress towards your overall practice goals? In this final episode of the six-week Accountability Equation™ podcast series, I share a framework to ensure these meetings encourage accountability and drive progress towards goals. So, if you're looking to refine your meeting strategy, this episode is a must listen! Join me to learn more about: The crucial role of taking action in achieving success and meeting goals. The importance of using metrics and goals as a basis for action in a group practice, as this helps to ensure that actions are aligned with the overall objectives of the practice. My framework for team leadership meetings that promote accountability and facilitate progress towards goals. Practical tips and strategies for effective implementation of the leadership meeting framework. As we wrap up our series on The Accountability Equation™, I hope you've gained valuable insights into the importance of accountability in a group practice. Remember, action is the final piece of the puzzle. It's what turns our vision into reality and our goals into achievements. So, let's take action, hold ourselves accountable, and make our group practices the best they can be. Thanks for listening! Like what you heard? Give us 5 stars on whatever platform you're listening from. Need extra support? Join The Exchange, a membership community just for group practice owners on our website www.thegrouppracticeexchange.com/exchange. Talk to you next time! Resources mentioned in this episode: The Accountability Equation™ Quiz The Accountability Equation™ Program & In-Person 2-Day Accelerator  Connect with Maureen Werrbach & The Group Practice Exchange: Website Facebook Instagram LinkedIn   This episode is sponsored by TherapyNotes. TherapyNotes is an EHR software that helps behavioral health professionals manage their practice with confidence and efficiency. I use TherapyNotes in my own group practice and love its amazing support team, billing features, and scheduling capabilities. It serves us well as a large group practice owner. Do you ever wish for a financial therapist who could relieve you from the last few months of bookkeeping, talk you off the edge when you're running into issues with Quickbooks, or help you work through a profit plan for growth? GreenOak Accounting does just that! GreenOak Accounting is an accounting firm that specializes in working with group practices. Their value goes WAY beyond bookkeeping; they can help you get on track for financial success. Schedule a free consultation by going to http://greenoakaccounting.com/tgpe  

Ever wondered how to transform vague promises into measurable success in your group practice? For the fifth episode of the six-week Accountability Equation™ podcast series, I dive deeper into the fourth A of the five A's of Accountability: “Audit”. Join me as I share why using key performance indicators (KPIs) are necessary to track progress and measure success. I talk about how to identify the core responsibilities, objectives, and critical success factors for each leadership role in order to determine the appropriate KPIs to track. I also share examples of common KPIs for different roles in your practice. Some of the things I cover in this episode are: Explaining the importance of accountability in a group practice Understanding the need for metrics and key performance indicators (KPIs) to track progress and measure success How to use data and evidence to support claims of success or failure Sharing how to identify core responsibilities, objectives, and critical success factors for each leadership role Exploring ways to determine appropriate KPIs to track for different roles (administrative, clinical, hiring and onboarding, HR) Diving into the importance of accurate auditing to ensure leadership team meets accountabilities Accountability thrives when it's supported by a web of metrics, offering transparency, motivation, and insight. Audits act as a reality check for your business, bridging the gap between intentions and outcomes. Thanks for listening! Like what you heard? Give us 5 stars on whatever platform you're listening from. Need extra support? Join The Exchange, a membership community just for group practice owners on our website www.thegrouppracticeexchange.com/exchange. Talk to you next time!   Resources mentioned in this episode: The Accountability Equation™ Quiz The Accountability Equation™ Program & In-Person 2-Day Accelerator    Connect with Maureen Werrbach & The Group Practice Exchange: Website Facebook Instagram LinkedIn   This episode is sponsored by TherapyNotes. TherapyNotes is an EHR software that helps behavioral health professionals manage their practice with confidence and efficiency. I use TherapyNotes in my own group practice and love its amazing support team, billing features, and scheduling capabilities. It serves us well as a large group practice owner. Do you ever wish for a financial therapist who could relieve you from the last few months of bookkeeping, talk you off the edge when you're running into issues with Quickbooks, or help you work through a profit plan for growth? GreenOak Accounting does just that! GreenOak Accounting is an accounting firm that specializes in working with group practices. Their value goes WAY beyond bookkeeping; they can help you get on track for financial success. Schedule a free consultation by going to http://greenoakaccounting.com/tgpe  

Have you ever felt like you needed to micromanage your team in order to see progress in your practice? If this sounds like you, it may be time to take a look at how you're assigning and tracking tasks.  For the fourth episode of the six-week Accountability Equation™ podcast series, I dive deeper into the third A of the five A's of Accountability: “Assign”. I explain the concept of an accountability tracker, which helps track progress and ensure everyone is on the same page. I emphasize the key elements of effective coaching, including consistent feedback, support, collaboration, and accountability. Some of the things I cover in this episode are: Practical strategies and techniques to ensure that tasks are assigned effectively, minimizing confusion and maximizing productivity. Explaining how accountability and coaching go hand in hand, as effective coaching plays a crucial role in helping individuals meet their goals and fulfill their responsibilities. Introducing the accountability tracker tool, enabling you to keep a close eye on individual and team performance, ensuring that everyone stays on track and meets their objectives. Exploring how to build an effective accountability tracker by setting specific, measurable, achievable, relevant, and time-bound goals. Discussing how to adjust coaching strategies and approaches to meet the unique needs and circumstances of each individual, maximizing their potential for growth and success. Remember, it's not just about delegating tasks; it's about fostering a proactive, results-oriented mindset. Thanks for listening! Like what you heard? Give us 5 stars on whatever platform you're listening from. Need extra support? Join The Exchange, a membership community just for group practice owners on our website www.thegrouppracticeexchange.com/exchange. Talk to you next time! Resources mentioned in this episode: The Accountability Equation™ Quiz The Accountability Equation™ Program & In-Person 2-Day Accelerator  Connect with Maureen Werrbach & The Group Practice Exchange: Website Facebook Instagram LinkedIn This episode is sponsored by TherapyNotes. TherapyNotes is an EHR software that helps behavioral health professionals manage their practice with confidence and efficiency. I use TherapyNotes in my own group practice and love its amazing support team, billing features, and scheduling capabilities. It serves us well as a large group practice owner. Do you ever wish for a financial therapist who could relieve you from the last few months of bookkeeping, talk you off the edge when you're running into issues with Quickbooks, or help you work through a profit plan for growth? GreenOak Accounting does just that! GreenOak Accounting is an accounting firm that specializes in working with group practices. Their value goes WAY beyond bookkeeping; they can help you get on track for financial success. Schedule a free consultation by going to http://greenoakaccounting.com/tgpe  

What qualities do you think make a great leader? Does your leadership team exhibit those qualities, or could it be time for an assessment?  For the third episode of the six-week Accountability Equation™ podcast series, I dive deeper into the second A of the five A's of Accountability: “Assess”. In this episode, I discuss the importance of assessing the leadership team in your group practice. I share the qualities of a great leader and explain the process of assessing your existing leadership team. I also highlight the benefits of self-assessment for leaders, and discuss the challenges and pitfalls of the interview process when looking for your leadership team. Some of the things I cover in this episode are: Why self-assessment is beneficial for leaders to reflect on their strengths and areas for improvement. The challenges and pitfalls of leadership interviews, such as bias and limited information. How to address the problem of limited diversity and inclusion in the interview process. How to adequately prepare for leadership interviews, including thorough research on candidates and utilizing structured interview processes. How to screen your leadership team for vision alignment, effective communication, decision-making skills, culture building, accountability, strategic thinking, resilience, and adaptability. The "Assess" phase of The Accountability Equation™ is a critical step in ensuring the right people are in the right roles within your group practice. With the right tools and mindset, this process can be a powerful catalyst for organizational growth and success. Thanks for listening! Like what you heard? Give us 5 stars on whatever platform you're listening from. Need extra support? Join The Exchange, a membership community just for group practice owners on our website www.thegrouppracticeexchange.com/exchange. Talk to you next time! Resources mentioned in this episode: The Accountability Equation™ Quiz The Accountability Equation™ Program & In-Person 2-Day Accelerator  Connect with Maureen Werrbach & The Group Practice Exchange: Website Facebook Instagram LinkedIn   This episode is sponsored by TherapyNotes. TherapyNotes is an EHR software that helps behavioral health professionals manage their practice with confidence and efficiency. I use TherapyNotes in my own group practice and love its amazing support team, billing features, and scheduling capabilities. It serves us well as a large group practice owner. Do you ever wish for a financial therapist who could relieve you from the last few months of bookkeeping, talk you off the edge when you're running into issues with Quickbooks, or help you work through a profit plan for growth? GreenOak Accounting does just that! GreenOak Accounting is an accounting firm that specializes in working with group practices. Their value goes WAY beyond bookkeeping; they can help you get on track for financial success. Schedule a free consultation by going to http://greenoakaccounting.com/tgpe

Is your staff clear on what their role and function is in your practice? If not… that could be hindering your growth and success. In this second episode of the six-week Accountability Equation™ podcast series, I focus on the first A of the five A's, which is "assemble". I explain how assembling the right team and clearly defining roles and responsibilities is crucial for setting up accountability in your practice. I even provide an overview of a helpful matrix that outlines the core responsibilities for each role in your business. Join me as I discuss: The difference between roles and functions: Roles are specific positions in the organization with their own set of responsibilities and expectations, while functions are the tasks and responsibilities within those roles. Why job titles and organizational charts are not helpful in providing clarity and understanding of responsibilities. The core roles and functions of a group practice including: visionary, integrator, sales and marketing, operations (administrative, HR, clinical), finance, and DEI. Steps to avoid building roles and functions that keep you stagnant by envisioning where your business should be, rather than where it currently stands. How spending time in the assemble phase helps clarify roles, reduce confusion, and promote collaboration and teamwork.  Don't start setting up your accountability system in your practice without first understanding this stage. This step is crucial as it provides clarity to everyone in the practice about their areas of authority.  Thanks for listening! Like what you heard? Give us 5 stars on whatever platform you're listening from. Need extra support? Join The Exchange, a membership community just for group practice owners on our website www.thegrouppracticeexchange.com/exchange. Talk to you next time!    Resources mentioned in this episode: The Accountability Equation™ Program Traction by Gino Wickman   Connect with Maureen Werrbach & The Group Practice Exchange: Website Facebook Instagram LinkedIn   This episode is sponsored by TherapyNotes. TherapyNotes is an EHR software that helps behavioral health professionals manage their practice with confidence and efficiency. I use TherapyNotes in my own group practice and love its amazing support team, billing features, and scheduling capabilities. It serves us well as a large group practice owner. Do you ever wish for a financial therapist who could relieve you from the last few months of bookkeeping, talk you off the edge when you're running into issues with Quickbooks, or help you work through a profit plan for growth? GreenOak Accounting does just that! GreenOak Accounting is an accounting firm that specializes in working with group practices. Their value goes WAY beyond bookkeeping; they can help you get on track for financial success. Schedule a free consultation by going to http://greenoakaccounting.com/tgpe

Looking to improve accountability in your group practice? In this episode of The Group Practice Exchange Podcast, I dive deep into the topic of accountability and how it can transform your practice. I'm also sharing some exciting details on how you can implement my accountability framework in your practice. If you're ready to take your group practice to the next level, this episode is a must-listen! Join me as I discuss: What The Accountability Equation™ framework is all about and how it can benefit your group practice. Why building a culture of accountability requires more than just goal setting and assigning tasks; it involves creating an inclusive environment, addressing systemic biases, providing regular feedback and coaching, and implementing consequences when expectations are not met. The importance of ongoing self-reflection and adapting to change as a leader. Actionable strategies to help you establish and nurture accountability within your practice. By implementing accountability in your practice, employees have a clear foundation for understanding expectations and the direction the organization is heading. This clarity and understanding can help enable your staff to fulfill their accountabilities and recognize how their roles contribute to the organization's success. If you enjoyed this episode, you won't want to miss the next five episodes, where I'll dive into the details of The Accountability Equation™. Thanks for listening! Like what you heard? Give us 5 stars on whatever platform you're listening from. Need extra support? Join The Exchange, a membership community just for group practice owners on our website www.thegrouppracticeexchange.com/exchange. Talk to you next time! Resources mentioned in this episode: The Accountability Equation™ FREE Masterclass The Accountability Equation™ Quiz Connect with Maureen Werrbach & The Group Practice Exchange: Website Facebook Instagram LinkedIn This episode is sponsored by TherapyNotes. TherapyNotes is an EHR software that helps behavioral health professionals manage their practice with confidence and efficiency. I use TherapyNotes in my own group practice and love its amazing support team, billing features, and scheduling capabilities. It serves us well as a large group practice owner. Do you ever wish for a financial therapist who could relieve you from the last few months of bookkeeping, talk you off the edge when you're running into issues with Quickbooks, or help you work through a profit plan for growth? GreenOak Accounting does just that! GreenOak Accounting is an accounting firm that specializes in working with group practices. Their value goes WAY beyond bookkeeping; they can help you get on track for financial success. Schedule a free consultation by going to http://greenoakaccounting.com/tgpe  

Julie is the owner of GreenOak Accounting, a firm that exclusively serves private practice owners in the US. Julie and her team have implemented Profit First with hundreds of clients and have seen the system transform practices from struggling to profitable. Julie's goal is for every practice to be profitable, so she shares all her tips and tricks for implementing Profit First in mental health in her upcoming book: Profit First for Therapists.

Welcome to the podcast, where we explore strategies to help therapists improve their financial well-being. In this episode, we're joined by author Julie Herres, who shares insights on implementing Profit First, a cash flow management system specifically tailored for therapists. Julie's warm and empathetic approach makes financial management less daunting for therapists, enabling them to prioritize profit and create a sustainable and thriving practice.  Julie Herres is an expert in Profit First who has helped hundreds of private practice owners gain financial freedom. Founder of GreenOak Accounting, the country's largest firm serving the mental health industry, Julie is an accountant, consultant, speaker, author of Profit First for Therapists, and host of the Therapy for Your Money podcast. Changing the Narrative for Therapists Therapists Can Thrive Financially Julie believes that being a therapist shouldn't mean a vow of poverty. She aims to dispel the misconception that therapists can't make a good living while doing meaningful work. "I want to change the narrative that being a therapist should be a vow of poverty because I just don't think that is true. I think you can go out there and do this amazing work that you were called to do and also make a good living." Therapists, typically not known for being warm and fuzzy about finances, find comfort in Julie's approach. She creates a safe space for therapists to navigate their financial concerns. "I defy that [stereotype]. That's the work that I enjoy—helping therapists with their finances and providing information for those willing to implement change and improve their practice." Understanding Profit First for Therapists Profit First is a cash flow management system that helps therapists carve out profit intentionally. "By implementing Profit First, you ensure that your business's profitability is a priority from day one." Unlike the traditional formula of income minus expenses equals profit, Profit First ensures that profit is a priority. Julie explains the system's foundation: "We have three bank accounts earmarked for the owner's benefit—profit, tax, and owner's pay. Additionally, we have accounts for income, operating expenses, and payroll." By allocating funds to specific accounts, therapists can protect their profit and ensure they receive fair compensation for their work. The profit account acts as a reward for taking risks and providing valuable services to the community. "The goal of the profit account is to pay you a dividend once a quarter and reward you for your efforts as a business owner." The Power of Smaller Plates for Managing Money Managing Money Effectively Using a smaller plate analogy, Julie emphasizes the importance of multiple bank accounts in the Profit First system. By dividing funds into separate accounts, therapists gain a clearer understanding of their financial resources. Julie explains, "When you're able to see what's available and where your wiggle room is, just within that one smaller account, you're naturally going to spend less because you're not looking at one big account that also has money earmarked for other purposes." The visual representation of separate accounts prompts therapists to make more informed financial decisions. Dawn Gabriel, the podcast host, shares her own experience: "If you were going to make a decision and you saw this amount in one account versus if it was spread across seven accounts, would you make the same decision?" Common Mistakes and Solutions when Implementing Profit First Implementing Profit First To successfully implement Profit First, therapists must be aware of common mistakes that can hinder progress. The first mistake is skipping the creation of separate bank accounts. Julie debunks excuses such as lack of time or familiarity with the banking process. Doing Profit First on paper doesn't provide the same impact as physically transferring funds between accounts. Another question arises: Should therapists hide some accounts to avoid constant visibility? While Mike Michalowicz, the author of Profit First, suggests using Vault accounts at different banks, Julie doesn't recommend this approach for therapists. Instead, she suggests keeping all accounts visible but organizing them strategically for better financial management. Action Steps and Tips: Embrace the belief that being a therapist doesn't mean accepting a vow of poverty. You can make a good living while helping others. Implement Profit First by setting up multiple bank accounts for specific purposes, such as profit, tax, owner's pay, income, operating expenses, and payroll. Allocate funds to each account based on predetermined percentages or amounts. Regularly transfer money into the profit account and reward yourself as the business owner by taking a dividend from this account once a quarter. Use the visual representation of separate accounts to make more informed financial decisions. Avoid common mistakes, such as skipping the creation of separate bank accounts and hiding accounts to avoid visibility. Stay organized and track your finances regularly to ensure the system is working effectively. Seek support from professionals or resources, such as the book "Profit First" by Mike Michalowicz, to gain a deeper understanding of the Profit First system and its implementation. Links and Resources: Profit First for Therapists Green Oak Accounting Therapy for Your Money Reverse Engeniere your Ideal Life free calculator