7 Deadly Mistakes Made By New Practice Startups

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Lessons Learned from the Side Streets

I always take the side streets and back roads.  The other day I was thinking after I made it to the office, Speech Therapy private practice is comparable to the side streets in that it’s not always fast, you must plan, and you have many starts and stops along the way.  In episode 15, I talk about the similarities.

In this episode:

01:04 – Over 4300 + listeners to the program
01:32 – PERFECT STUDENT is full for the summer
02:07 – General information on private practice
03:16 – Taking the side street a private practice is kind of a road less travel
04:59 – Let go and let other people do what they do best
04:59 – Patience, tolerance, understanding of others, that’s what it takes to have a good private practice

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I have to let go and let other people do what they do best. Lets face it, I can’t do everything myself. I have to put the control out of the picture I have to let people that work with me do their job.

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Well, Hello everyone! You’re listening to the Speech therapy Private practice Startup Podcast; this is episode number 15. My name is Kyle Meades and I’m a speech pathologist since 1993 and these podcasts are designed to help you improve your business and your life one podcast at a time.

Well as always I want to say Thanks to all the listeners out there and this recording as of July 13th, we have over 4300 listeners to the show and I want to say Thank you to everyone listening. I hope you’re getting good valuable information. Its free for you and if you don’t mind go to iTunes and leave some good 5 star feedback so that others just like you get the valuable information they need to start their own Speech therapy Private practice Startup. Also I wanted to say Thank you for all the emails, tweets and mentions. It’s really need to get these questions and I also want to let you know that right now the PERFECT STUDENT is full for the summer. We may have one come open in about one or two months, so if you want to get mentored by me or you can fly in to Tucson, come work with me in my clinic and I will show you all the things that I know and all the things that I do. You can send me an email kyle@privateslp.com, I will be more than happy to put you on the waiting list. Also give me some information, give some specifics about what you’re working on, what you want to learn, what you want to know. Because I can help you better if I know what you’re upto, what you want to know.

I got an email recently someone wanted some general information on private practice. I want more information, Hey Kyle, I am personally seeing 10 people a week. I want to scale it upto about 50 people a month, I want to start taking insurances. That’s a kind of stuff I want to know. What kind of revenue you’re getting, what are your goals, what are your dreams, what are your desires? Tell me that in an email. Let me know more so I can help you better. Again kyle@privateslp.com, shoot me an email. Also if you have a question for the podcast, you can send me an email or you can simply go to the website www.privateslp.com, the bottom right hand side you’ll see a speak pipe application. Right there you can click it, make sure your microphones are on. Leave me a voice mail, it will come right to my inbox and I’ll answer your question on the podcast, its not a problem. I want to help you, I want to help you succeed, I want to help you grow.

Start a speech therapy private practice

Today’s podcast is kind of a different topic, I was driving down to the backstreet here in Tucson. I always go the back way, I don’t like big roads, I don’t like traffic and I was thinking when I got to the Office, I took out my trusty pen, my Journaling note book and I started making some notes. And I said this is really just like a private practice startup. Its called taking the side street in a private practice is kind of a road less travel. Its like a private practice because it’s a slower pace than the big road. When you are on the highways going Tucson to Phoenix, you truck along 75 miles an hour but when you are on these back streets, its stop and go, its 25 – 30 miles an hour max. You’re going to have more starts, you’re going to have more stops, and you are not going to have all of amenities that you find on a big highway. That’s just like Private practice. Not everybody is doing it. So you are doing to be the one that’s going to take the slower pace.

Just like a backstreet you are going to have a slower pace; you’re going to have more tolerance of others because again you are starting, you are stopping, you’re going to have more understanding about the people in front of you and behind you. You’re going to learn more about financial health because again when you are on this backstreets you’ve got a plan, when you’ve got a quart of tank of gas left in your car. You may not see a gas station like you were on the big highways. So you have to fill-up ahead of time. Just like that you got to have money in the bank or a line of credit that you can that you can use once in a while. Again once in a while, don’t rely on the line of credit. You just have it there for emergencies. But you’ve got to keep things stocked up like fuel and money. And again like with employees you have to be patient of others, you have to be tolerant of others, you have to understanding, you have to practice financial health, you have to have great planning skills. Those are some of the things that you have to have to have a good successful productive private practice.

One of the biggest that I’ve learned in private practice is I have to let go and let other people do what they do best. Lets face it, I can’t do everything myself. I have to put the control out of the picture I have to let people that work with me do their job. So for instance in our Clinic, Esther and Nikki they are billing experts, they are AR (Accounts receivable) experts. They bill it, they collect it, and they get the cash that we need to survive. So when I have a billing question I won’t even go there with the patient family. I always refer back to the people, that’s their job. When I have a scheduling question, I don’t go the family members and talk to them about scheduling and try to trump our schedulers in the clinic. I let Sara do her job; I let Celis do their job because they are really good at it. They know how to schedule an appointment to make sure that appointment is filled, to make sure that the therapists in our clinic have what they need as far as a full schedule. When we need prior authorizations I don’t sit there, pick up the phone and call United health care and get frustrated. Because when you are on the phone with this Insurance companies, it’s a pain. Helica, she’s our prior authorization gouger. She does that like you wouldn’t believe. So again patience, tolerance, understanding of others, that’s what it takes to have a good private practice. Its kind of like driving the backstreet.

I hope this is a helpful podcast for you, and as always if you need help with your own Speech therapy private practice, let me know, send me an email kyle@privateslp.com. Don’t forget to go to iTunes, leave some good 5 star feedback so others like you can find this podcast and as always, Thank you for listening.

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