By Ajita M. Robinson, PhD, LPCP
January 2024
As a grief and trauma therapist, author and owner of an eight-figure private practice, my journey in mental health has convinced me of one thing: The path to a resilient and sustainable practice lies in diversification and burnout prevention.
The world of private practice therapy isn’t what it used to be. The landscape has shifted, thanks in part to a greater societal acceptance of mental health as a crucial aspect of overall well-being. This surge in demand calls for a significant evolution in our practices, including an intentional focus on diversification.
Diversification is not merely about multiplying income sources; it’s about flexibility and adaptability. By offering a range of services, such as individual and group therapy sessions, workshops, telehealth services and even online courses, you can reach a broader audience and make mental health care more accessible. This diversity not only affects your bottom line but also influences your professional growth and the range of people you can help.
Income diversity can also help decrease burnout among practitioners. In a 2022 article published by the Association of American Medical Colleges, Saul Levin, MD, CEO and medical director of the American Psychiatric Association, said: “We have a chronic shortage of psychiatrists, and it’s going to keep growing.” This statement aligns with the findings from a 2017 report by the National Council for Mental Wellbeing, which projected that the shortage of mental health providers will double by 2025.
When entering the world of private practice, myths and misconceptions abound. Two common myths include the belief that succeeding in private practice is a solo journey and that you have to be tech savvy. Let’s be clear: Building a successful private practice is often a collaborative effort. Consultation, group practices and professional networks enrich your practice.
You also don’t need to be a tech wizard to thrive. Basic tech literacy suffices for most aspects of modern practice, such as using electronic health records or engaging in teletherapy.
Mental health practitioners often report feeling that they weren’t properly equipped to run a private practice, which reinforces the notion that running a successful practice requires a collaborative approach with other professionals and the community. Many practitioners, especially those in solo practice, don’t need a full-time team; instead, they need auxiliary support in the areas of administrative, marketing, legal and accounting assistance.
Limiting beliefs — beliefs that restrict you in some way — can also be detrimental to your success as a private practice therapist. Thoughts such as “I’m not good at business,” “People won’t pay my rates” or “If I desire to make money, I’m a bad therapist” can be barriers to a flourishing practice.
The truth is business skills are acquired and honed over time. And if you provide a service that meets a significant need, clients will pay your rates. The key is to focus on a niche where you can add undeniable value.
Finally, financial stability is necessary to continue to offer therapeutic services to the community. It’s akin to being instructed on an airplane to “put your mask on first” before you’re able to help anyone else.
I’m often asked: What are the fundamental pieces needed to have a profitable, thriving practice? Clear branding, effective marketing, professional development, streamlined administration and a CEO mindset are a few key pieces. It’s crucial to define your brand and identify your niche to differentiate yourself in a saturated market.
On the operational side, systems for client acquisition, record-keeping and marketing need to be efficient and effective. We want to be well-positioned in the marketplace, and we want our ideal clients to understand who we serve and how we can help them on their journey.
Here are three things to keep in mind when creating a sustainable practice:>
Crafting a resilient practice is not just beneficial for us as mental health providers, but it’s vital for the well-being of the communities we serve. Let’s journey together toward greater resilience and impact.
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