Episode 324 - QuickStart Guide to Implementing Profit First in Your Practice
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startup nation, meet: Julie Herres
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.
show notes
What is Profit First
Why PF? I.e. what kind of transformations are possible, how does it positively impact practices and decision making
6 simple steps to get started
Key drivers to success
Common misconceptions or mistakes
Resources & giveaways
Profit First for Therapists book by Julie Herres
What to Track to Have a Successful Business podcast by Julie Herres
How to Make Your Business Profit First podcast by Mike Michalowicz
Run Your Business Like Clockwork podcast by Mike Michalowicz
Fix This Next for Healthcare Providers podcast by - Mike Michalowicz
Financial Planning for Your Private Practice podcast by Dave Frank
Guest's contact information
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Meet your co-hosts:
Kate & Katie
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our awesome sponsors:
Do you ever worry about money as a practice owner? If so, you're not alone.
I want to tell you about Profit First for Therapists, a new book that customizes the Profit First system SPECIFICALLY for private practice owners.
For therapists, profit is too often an afterthought. You focus on caring for clients and paying rent and clinicians, and take home the leftovers—if there are any. Through client stories and case studies, powerful frameworks, and simple tips, the book lays out a clear path to profitability.
You’ll find step-by-step instructions for implementing Profit First in practices of all sizes, from startups to multi-million dollar practices. It will leave you feeling empowered to look at your finances instead of crossing your fingers and hoping for the best.
Julie Herres from GreenOak Accounting, takes a subject that most therapists find confusing and speaks about it in a way that is simple and easy to understand. The book covers so much more than just Profit First, it also includes financial literacy building blocks and tips for scaling, paying down debt, paying yourself and much more.
This book will give you the tools you need to stop worrying about money and achieve financial freedom. Advance readers agreed: This is the missing link most practice owners need.
Go to www.profitfirstfortherapists.com/pps to order your copy today or find it on Amazon and other online bookstores!
As a private practice owner, there are dozens of things to worry about. If you decide to accept insurance, insurance billing doesn’t have to be a worry. Practice Solutions is a remote billing company who connects providers with billers in the U.S. who specialize in mental health billing. Their expertise has helped clinicians increase and maintain steady revenue by submitting and following up on claims regularly, resolving old aging claims, and performing eligibility and benefit checks. With Practice Solutions, you are assigned a billing expert who learns the ins and outs of your practice, functioning as an extension of your team, so you can focus on your clients and grow your practice.
One of Practice Solutions current clients, said, "Practice Solutions has been amazing for my practice, its growth, and my peace of mind when it comes to billing."
Practice Solutions works with clients ranging from solo practitioners just starting their practice, to larger group practices with multiple clinicians. Practice Solutions offers a free billing consultation to determine if their services are a good fit for you and your practice. Visit www.practicesol.com/startupnation and schedule an appointment.
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