Having a Professional Will

Uncategorized Aug 20, 2019
 

This is Dave Kats and I have a tip for you. 

 You know I believe every therapist should have a professional will. Now a professional will is not a legal document, it's just some paper you make up that talk about how to handle your practice in the event of your death. And I should tell you that the person that is the custodian of this will or executes this will should be another professional, not your family. You don't want to lean on your family in this time when they have lost you. So you want to have another professional be the executor of your will. Now there are several things you should have in the professional will. If you're a client, you should go to our forms page on our client website and download the professional will template, and then just fill that template out and you'll be done. If you're not a client, you'll have to create a professional will from scratch. But these are the things you should have in either case. So let's look at them. The first thing you...

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Aging of Accounts

 

Hi, I’m Dave Kats with Therapist Consultants and I have a tip for you.

If you take insurance and even if you are a cash practitioner, you should run an aging of accounts every month. What I mean by an aging of accounts is just a report that tells you who owes you money and how long they've owed you that money. And you have to decide based on that report what you need to do for collections. I have here a hypothetical aging of accounts that I'd like to go over with you and show you what we would do if we found these on our aging of accounts. Let's look at the aging of accounts. You can see the first person there is Bill Jones. Now he doesn't owe anything for 30 days, 60 days, 90 days, but from 90 days to 120 days he owes $100 and for over 120 days he owes $400. So he owes a total of $500. Now it appears to me that he has stopped coming in some time ago, about three months ago, and we have not collected from the times previous. Something went wrong, we sent it to the wrong...

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Workshops

motivation Aug 06, 2019
 

Hi, this is Dave Kats with Therapist Consultants and I have a tip for you.

One of the things I see some therapists do that are well-established that other therapists really never get around to doing is workshops or seminars. That’s a right way and there’s a wrong way to do workshops and seminars. If you say to your patients, “I’m going to hold a workshop and I’d like you come on Wednesday night at 7 o’clock to this workshop,” chances are you won’t have many people in attendance, but there’s an old saying, “If Rome won’t come to you then you go to Rome.” Here’s the idea. If the patients won’t come to you then you go to the places where the patients are at. One of the places I find this is the case is churches. A lot of times churches will have a young married group or a married with children group or even a senior citizen group and any of those lend themselves well for you going in and doing a...

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Moving To Cash

billing Jul 30, 2019
 

Hi, I’m Dave Kats, at Therapist Consultants and I have a tip for you.

You know at some point in time almost everybody that takes insurance thinks about going to cash or being a cash practitioner where patients pay their own bill. Well, there are certain times when it’s good to be a cash practitioner and certain times or certain conditions when it’s not good to be a cash practitioner. Let me give you an example. If you are in practice that’s overfull right now, if you’re turning away new patients away, then chances are you should move to a cash practice because even if a few don’t stay with you, you have all those new patients coming in. So that’s one reason why you might want to be a cash practitioner. Another reason you may want to be a cash practitioner, is if your insurance is paying very little. If you have insurance companies that only pay you $60 or even $50 for a visit then I think it’s time maybe to go to become a cash...

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Progress Reports

articles Jul 23, 2019
 

Hi, this is Dave Kats with Therapist Consultants and I have a tip for you.

There are a lot of ways to encourage patients to stay under your care but one of the best ways is to give them an occasional progress report. Here is what I mean by that. About every 10 visits you should sit down with your patient and before you start the counseling session you should simply say, “Let’s recap what we’ve accomplished in the last 10 visits.” Then you can do it in two different ways. You can use the plan of care that you gave them at the beginning of their care and say, “ Here is what our goals are. Here is the ones we’ve accomplished. Here’s the ones we have yet to accomplish.” And give them just a progress report. The other way I like to do it is just look at my daily notes for the last 10 visits and say, “Well, we had problems with this when you came in and that’s gone. Your anxiety level was at a nine. Now you say it’s at a...

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Treating Patients Like Royalty

daily huddle Jul 16, 2019
 

Hi, this is Dave Kats with Therapist Consultants and I have a tip for you.

I’m always amazed how the medical profession treats the people that are wealthy. They cater to them in a special way. I had an opportunity several years ago, to spend a lot of time with the plastic surgeons in Beverly Hills and in Hollywood, and it’s amazing how they treated their patients. They treated their patients like royalty. When the patient came in they were greeted by name. They were whisked off into a private reception area. They were asked if they wanted coffee, or juice, or water, whatever they wanted and they were catered to in every way. They were treated like royalty. Now, my old dentist treated me like royalty too. Whenever I came in the staff greeted me by saying, “Hi, Dr. Kats.” Not David or just a grunt or something like that, and I rarely if ever waited at that dentist’s office. He would saw me right away, it was a professional experience. They kept my credit...

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Accounting Software

billing Jul 09, 2019
 

This is Dave Kats for Therapist Consultants. I have a tip for you.

Last week we talked about what kind of billing software you should use. We talked about Therapy Appointment being good and Therapy Notes being good and Practice Mate by Office Ally if you wanted something that was free. Today I want to talk about your bookkeeping software and I think hands down, you should have QuickBooks. QuickBooks has one program that resides on your computer that you can use and there is a Cloud-based software. They are both fairly inexpensive. Here's what you need to do, if you keep your books on QuickBooks, it makes it light years easier for your accountant at the end of the year. You should provide your accountant something that interfaces with the software he or she uses and your accounting fee should go down. Virtually every accountant in the world interfaces with QuickBooks, so I would suggest you get QuickBooks. If you know nothing about accounting, I would suggest you go to Craigslist or...

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Double Sessions

increase profits Jul 02, 2019
 

Hi, this is Dave Kats with Therapist Consultants and I have a tip for you.

There are so many people who are starting to do something unique in therapy. They are starting to do either 90-minute sessions, or double sessions, or in fact intensives. Now, the most common thing I see is therapists starting to do double sessions with their clients. This is mostly for the cash patients but it can be used with insurance if they want to pay cash for their second part of their visit. For the cash practitioner, a lot of times, especially if you have a married couple, a lot of therapists are of the opinion that 50 minutes, once a week, doesn't cut it. They give the patients or the clients the opportunity to have a double session if they are interested. And you'll be surprised, this is not a sales job, you just say to the patients, "When I have a marriage counseling situation like this, I usually ask the people if they want to do one session or two sessions each time they come in. One session...

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Blogs and Articles

Uncategorized Jun 25, 2019
 

Hi, this is Dave Kats with Therapist Consultants and I have a tip for you.

Last time we talked about writing reviews and making sure that people give you plenty of reviews so you get an internet presence. Another way you get a good internet presence is by having blogs or articles. Now, when people hear about writing blogs and articles they say, “Oh, this is going to take a lot of time. I’m going to forget to do it. I’m never going to get it done. It’s going to fall by the wayside.” Those things could all be true but we can make blogs and articles a lot easier for you and maybe you’ll stay with the program. First of all, realize that blogs and articles can be very short. They can be one paragraph if you want, they can be three or four sentences if you want, and three paragraphs would be a lot. So don’t plan on putting a lot into each of these because you don’t need to. You can have a short article or a short blog. When you listen to...

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Employee Assistance Programs (EAPs)

daily huddle Jun 18, 2019
 

Hi. This is Dave Kats with Therapist Consultants and I have a tip for you.

Last week we talked about kicking some of the low payers to the curb. One of the things that naturally comes up from people when they respond to that is, "Well, if my practice is not yet full, can I keep these people?" And the answer is yes, you can. If your practice is not yet full and you do have those low-paying insurance companies and you want to stay with them and you're willing to work for the $40 or $50 or $60 that they give you, go ahead. More power to you. In fact, if your practice is not yet full, one of the things you can do to get it full is to talk to the Employee Assistance Programs (EAPs) in your area about you being the therapist for them. See, this is rarely done by a therapist and EAPs are always look for people to send their workers to. EAPs look for people to send their workers to. If you go in and talk to HR or whoever is in charge of the Employee Assistant Program and you say, "I'm...

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