Why Many Psychiatric Private Practices FAIL

Why Many Psychiatric Private Practices Fail
Welcome to my Psychiatric Private Practice Series.
In this episode, I go over "Why Many Psychiatric Private Practices Fail" within the first few years and how you can avoid failing.
Hope you enjoy 😊
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*Disclaimer: "The content of this video may contain general information relating to various medical conditions and their treatment and may contain opinions and views expressed by myself and other medical professionals. These views are solely the opinions of each individual person. The views may or may not reflect the views of their schools, professors, cohorts, or any person or entity within, or around the medical profession. Such information is for informational purposes only and is not intended to diagnose, treat, cure, or prevent any condition or disease and is not meant to substitute advice from a qualified health care provider. You understand that this video is not intended as a substitute medical advice or a replacement for attending an accredited educational program. Information is gathered and shared from reputable sources; however, we are not responsible for errors or omissions in reporting or explanation. No individuals should use the information, resources or tools contained to self-diagnose or treat any health-related condition. It is important for you to continue to use evidence-based research and school textbooks to obtain information regarding subject matter. We give no assurance or warranty regarding the accuracy, timeliness or applicability of the content. Items mentioned in this video are my opinion, not my professional recommendations, but if you or someone has a life-threatening condition, please seek a local medical professional for assistance. Also, our videos may contain links to affiliate websites, and we receive an affiliate commission for any purchases made by you on the affiliate website using such links. We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for us to earn advertising fees by linking to Amazon.com and affiliated websites. By watching this video implies your acceptance of this disclaimer.”

[@chinaarlene7035]

Great video, thank you!

[@gbuosexy30]

Thanks once again very informative

[@SallyReloading]

Recently started following you love your content and how you break down everything!!!

[@MyPMHNPJourney]

Very helpful! Private practice is my ultimate goal. Do you have any information about private practice metrics for profitability, patient acquisition, expenses, etc…? I know it varies by state and patient population, but some guidelines would be great!

[@j.h.777]

Thank you!

[@angelsquire3623]

Wondering how people are planning for the telehealth change after may 11 and reverting back to lower reimbursement rates for telehealth visits since most of visits currently are telehealth.

[@Loti433]

Thank you so much. I was wondering if you can talk about the costs of a collaborating physician. I am going through this process and the cheapest I have been able to find is 600.00 a month. I am planning on cutting as many costs as possible but this has been an issue for me. Do you have any advice?

[@nipponclinic8919]

$600 is not bad at all. I used to pay $1500 per month

[@Loti433]

@@nipponclinic8919 wow! That’s a lot for a start up.

[@Hw-xf6gs]

$600 is nothing when its easy to break 10k a week doing psych as an NP...

[@tanyabrewer329]

How do I find this course, hand book etc? I have just started my practice and OMG the work by myself!

[@jason-dn3hy]

Geeze. Get to it please

[@CalifaJohn1]

Interesting points, but TOOOOOOOOO MAAAAAAAAAANY AAAAAAAAAAAAAAAAAAAADS.

[@LifeofaPsychNP]

ANDDDD… your point is? Lol

[@nipponclinic8919]

I have been doing my independent practice as Primary care NP and Psych NP for 7 yrs now. I agree many things you said in your video. I had many up and down moment like you said. My practice is getting busy and I have seen my self more stable now that I’m glad I did not give up. I used to work at the clinic or VA as a provider. I hate my job. So I stick with my own practice. Any business have up and down so as my own practice. But I can see my self getting a stronger as a business owner that I used my clinic with many ways to make money. I saw you quit Psych NP and going back to RN. Good luck your choice. Thank you for share your opinion.