STP 93 | How an Accountant Helps You Scale Your Therapy Practice

In this episode of 'The Scaling Therapy Practice,' host James Marland interviews Julie Herres, owner of Green Oak Accounting and author of 'Profit First for Therapists.' They discuss key strategies for scaling a therapy practice, focusing on the importance of financial sustainability and the critical role of accounting support. Julie highlights that every session should add to the bottom line and emphasizes the interconnectedness of scaling through session count and clinician headcount. The episode also covers the potential pitfalls of hiring without proper financial planning, and Julie provides real-world examples, like the pros and cons of buying a practice building. Listeners gain valuable insights into managing compensation packages, avoiding expensive mistakes, and exploring new revenue streams like online courses.

Show Highlights

• 00:00 The Financial Pitfalls of Generosity in Practice
• 02:11 Introduction to Scaling Therapy Practices
• 02:19 Meet Julie Herres: Expert Accountant for Therapists
• 02:54 Defining and Approaching Scaling in Therapy Practices
• 04:27 Maximizing Space and Resources for Growth
• 06:30 Breaking Down the Numbers for Scaling
• 09:44 The Role of Accountants in Scaling Your Practice
• 13:56 Avoiding Expensive Mistakes in Practice Management
• 18:38 Creating Effective Compensation Packages
• 21:46 Exploring Online Courses as a Revenue Stream
• 25:32 Julie's Resources and Contact Information
• 26:41 Conclusion and Final Thoughts

Links and Resources

• More Resources from Julie and her team: https://www.greenoakaccounting.com/
• Are you ready to scale with a digital product? Take the quiz: https://forms.gozen.io/TMu9Szi9S4i9C7I3h2S3 
• Do you want to talk about scaling your practice with an online product? Contact James here: https://tidycal.com/360z043/chat-with-james
• Email James with questions: [email protected]