Hi, this is Dave Kats with Therapist Consultants and I have a tip for you.
You know they say record keepers are record breakers, so I have to ask you a question. What records do you keep? Well, there are certain statistics that I think every therapist needs to keep to know where they stand. First of all, you should track how many new patients you get each month. Second, how many patient visits you've had each month, and third, how many services you've rendered.
In other words, how many dollars worth of services you've rendered, and number four, how much you've collected. Now, what good do those do? Well, after you have amassed a group of about six or eight months, you can see whether your practice is going up or down or staying the same. You can also see what areas you're weak in and what areas you're strong in. Let me give you an example. The average therapist gets seven new patients a month.
If you average 10 or 12, you're above average. If you average four or five, you're below...
Hi, this is Dave Kats, a therapist consultant, and I have a tip for you.
Every so often, we have a therapist call in and say, "What can I do to produce more revenue other than just seeing patients and doing counseling?" And there's lots of things you can do. One thing that you can do that really help the patients is do assessments on all your patients.
Another thing you could do is provide product. For instance, if I was doing marriage counseling, or if I was a patient going to marriage counseling, or a client going to marriage counseling, and you gave me a set of six CD's to listen to, maybe, three to five times a week for six weeks, it would help me a lot more than just going to the counseling sessions. So, maybe, you should be selling products, then maybe you should be having group sessions. You can make more in group sessions than in individual sessions, by and large.
Then there are instances where you may meet with married couples, six hours in a week, maybe, three hours one...
David Kats: Hi, this is David Kats and Dr. Michael Perusich for Therapist Consultants and we have a tip for you. You know you have to start saving for taxes sometime. You don't want your taxes to sneak up on you and always feel like you're behind the ball as far as getting taxes paid on time. You have to set up a tax account. Do you have set up a tax account?
Michael: Yes, we do. In fact, what I do just so it doesn't sneak up on me because boy, the year really flies by, and you're probably filing quarterly taxes. You want to just do this on a continual basis. What I do on my practice is I just have it automatically removed once a week. I have a certain amount taken out and moved right over to my tax account. I don't think about it, I don't physically have to do it. The way automation is today with our banking accounts and online banking and those kind of things makes it really, really easy to just slide that money over so it's there when the tax man comes.
David: You know you said...
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