Hey, it’s Sam, with Small Practice, Big Profit.
I’ve been receiving quite a few emails recently.
Many therapists around the country are feeling anxious about the No Surprises Act that took effect this January 1st.
What does the new law mean? Does it affect my small practice? How am I going to deal with it WITHOUT losing clients?
Sound like you?
First off, take a deep breath and grab some coffee or a tea.
Here’s what you need to know.
The most significant change for therapists providing care in the outpatient setting is the new requirement to provide a good faith estimate to patients.
That’s right… You’re going to have to give new and established patients who are uninsured or self-pay, or patients who are shopping around for care, a good faith estimate of the costs for services that you provide them.
For many of you, this task sounds daunting.
But it didn’t shake us one bit. In fact…
This is exactly what we have been teaching the students of the Small Practice, Big Profit Method for literally years!
Step 4 of our 9-step Small Practice, Big Profit process is in compliance with this new regulation.
Why would we do that when it wasn’t legally required until just now?
Because we’ve always understood that…
Being completely transparent with your prospective clients is one of the best ways to convert them into patients.
Let me explain…
We teach our therapists to provide their clients with a framework that sets out the milestones they will go through during therapy.
This helps to establish immediate trust with patients.
What better way is there to build trust than by being transparent with clients about the services you will provide and their estimated costs?
Very briefly, Step 4 of our method looks something like this:
#1: Brainstorm and write down everything you do to help a specific kind of client.
Think of it as a literal brain dump. No censoring or editing. Just get it all down on paper.
Then leave, walk the dog, run to the store… You get the idea. Inevitably, while you’re focusing on other things, you’ll remember MORE stuff you can write down.
#2: Divide your list into three phases.
Don’t over-think this one. Just consider the milestones that this particular kind of client has to move through during your therapy together.
(If you’re struggling here, schedule a call with me and I’ll help you get more clear.)
#3: Divide each phase into three steps, and place them into a 9-step framework.
Again, stop yourself from over-thinking. You’ll modify the framework over time as you need to.
For now, just break down each step into another three steps.
#4. Complete your framework with fee estimates for each description of the services expected to be provided.
But wait… Are you worried that prospective clients will be scared off when they see what’s involved and the cost of your services?
Don’t be. Trust us on this… Our method works.
People don’t want to be in counseling forever. They want a road map, a plan to get them to their goal. They appreciate having it all set out in front of them.
Want to learn more about how you can make the No Surprises Act work in your practice’s favor?
Download your FREE COPY of the “Ultimate Private Practice Builder Checklist“ today.
Or just schedule a strategy call with me to get clear on your next steps to creating the small but profitable practice of your dreams.
Here’s my availability and application for this week:
I can’t wait to talk to you on Zoom!
P.S. If you’d be interested in attending a live training on this subject, just hit reply to this email and let me know.