Being in private practice can feel very lonely. You are in your office all day, by yourself. If you’re lucky, you pass a few colleagues in the hallway when you go to get your clients. You might even be new to private practice and feel like a fish out of water when you think about starting.
It’s been talked about before, but the reality is that graduate school did not teach us how to run a successful business. Most of us never learned about profit and loss, marketing strategies, business acumen, reconciling your books and how to build a profitable practice. Make no mistake—private practice IS a business! And one you have to understand to be successful.
There are a lot of people out there running practices that just aren’t profitable (yet). Perhaps you live in an area where EVERYONE accepts insurance. Maybe your expenses are high because you live in an area where real estate for commercial property is sky high. We see you, and we know the struggle.