{"href":"http://player.captivate.fm/services/oembed?url=http%3A%2F%2Fplayer.captivate.fm%2Fepisode%2F16e6c3d5-cb09-4cd0-b2c6-b2649fc7d571","version":"1.0","provider_name":"Captivate.FM","provider_url":"https://www.captivate.fm","width":600,"height":200,"type":"rich","html":"","title":"Episode 160: Overcoming Financial Obstacles in Private Practice [featuring Michael Fulwiler]","description":"In this episode, I talk with Michael Fulwiler, Director of Brand at Heard, about the financial challenges therapists face in private practice and how to overcome them.\n\nHere are 3 key takeaways:\n\nUnderstanding Insurance's Impact: Insurance companies keep therapists in the dark about reimbursement rates, leading to financial uncertainty and an average of 25% lower earnings compared to out-of-network providers.\n\nStrategies for Financial Growth: It's essential for therapists to set fees based on personal financial needs rather than industry benchmarks. Confidence and strategic fee management can alleviate financial strain and improve practice sustainability.\n\nEmbrace Financial Support: Outsourcing financial management tasks can save precious time and reduce stress. Utilizing services like Heard can streamline bookkeeping, tax estimations, and filing, allowing therapists to focus on their core mission.\n\n\nIt's time to break the taboo around money in private practice and empower therapists to build sustainable, thriving businesses.\n\nMore about Michael:\n\nMichael Fulwiler is the Director of Brand at Heard, the financial back office for therapists, and the host of Heard Business School, a new show for therapists building their own businesses. He\u2019s also the creator of Therapy Marketer, a popular newsletter for therapists. Previously, he was the Chief Marketing Officer at the Gottman Institute.\n\nHeard website: joinheard.com\n\n\nTherapy Marketer: therapymarketer.co\n\n\nReport: joinheard.com/resources/downloads/the-heard-2024-financial-state-of-private-practice-report\n\n\n\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\n\ud83c\udf99\ufe0fListen to more episodes of the All Things Private Practice Podcast\n\ud83c\udf99\ufe0fSpotify\n\ud83c\udf99\ufe0fApple\n\ud83c\udf99\ufe0fYouTube Music\n\u25b6\ufe0f YouTube\n\u2708\ufe0f Learn about Retreats\n\ud83d\udde8\ufe0f Join the free Empowered Escape FB Community\n\ud83d\udde8\ufe0f Join the free All Things Private Practice FB Community\n\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\u2013\n\nThanks to Our Sponsors: The Receptionist for iPad, Alma, & All Things Private Practice + Empowered Escapes 2025 Retreats & Summits!\n\u2728 The Receptionist for iPad\nThanks to The Receptionist for iPad for sponsoring this episode.\nThe Receptionist offers an iPad list check-in option where clients can scan a QR code to check in, which negates the need for you to buy an iPad and stand. Go to thereceptionist.com/privatepractice and sign up for a free 14-day trial. When you do, you'll get your first month free. And don't forget to ask about our iPad list check-in option.\n\u2728 Alma\nThanks to Alma for sponsoring this episode.\nBuilding and managing the practice you want can be challenging. That\u2019s why Alma offers tools and resources to help you build not just any practice, but your private practice. They\u2019ll help you navigate insurance, access referrals who are the right fit for you, and efficiently manage administrative tasks \u2014 so you can spend less time on the details, and more time delivering great care. You support your clients. Alma supports you. Visit helloalma.com/ATPP to learn more.\n\u2728 All Things Private Practice + Empowered Escapes 2025 Retreats & Summits\nLearn about retreat opportunities at allthingspractice.com and empoweredescapes.com. Doubt yourself, do it anyway.\n\u2728 Hurricane Relief for WNC communities\nDonate to help provide urgent aid for WNC communities affected by Hurricane Helene. Visit: atppod.com/wnc","thumbnail_width":300,"thumbnail_height":300,"thumbnail_url":"https://artwork.captivate.fm/0f6edf68-767c-429c-9b6c-a5b6170db40e/c2da89df3aa43dc1c365ea32c24d48ea.jpg"}