165FF: Balancing Private Pay and Insurance to Create a Sustainable Practice

Are you unsure how to balance insurance with private pay in your private practice? In today’s Feelings and Finances episode, Linzy answers a question from Katie, who is exploring how to make insurance work for her while avoiding overworking herself in private practice. Katie is seeking clarity on whether it’s possible to take insurance and still build a financially sustainable practice without overloading her schedule. Linzy dives into how you can reverse-engineer your financial needs and create a plan for your practice that strikes the right balance. Through practical strategies and real-world examples, Linzy shares how you can calculate the number of insurance and private pay clients needed to hit your income goals. She also talks about the flexibility private practice allows to blend both types of clients, ensuring accessibility while avoiding burnout. If you’re navigating the tension between insurance and private pay, this episode offers valuable insights into how to manage both while maintaining balance and achieving your financial goals. For a full transcript of the episode and much more, check out the blog post on our website! https://moneynutsandbolts.com/?p=17453  To watch a video version of this, check it out on YouTube: https://youtu.be/a75W8uPF-u0  Have a question for Linzy? You can easily submit your question directly to Linzy’s SpeakPipe inbox.  Just click the “Start recording” button, allow the use of the microphone if needed and press “Stop” when you’re done. Fill in your name (yes, you can use an alias) and your email address.  It will take you less than 2 minutes, promise! Want to feel calm and in control of your finances? Connect with us! Subscribe to our YouTube channel: https://www.youtube.com/@moneynutsandbolts Listen to the Money Skills for Therapists Podcast on your favourite app: https://moneynutsandbolts.com/podcast/ Follow us on Instagram: https://www.instagram.com/moneynutsandbolts Follow us on Facebook: https://www.facebook.com/moneynutsandbolts Follow Linzy on LinkedIn: https://www.linkedin.com/in/linzybonham/ https://moneynutsandbolts.com/masterclass-signup/  Mentioned in this episode: Check Out Relay for Business Banking Skip banking fees, minimum balances, and tedious bank visits. Start with the unicorn of all banks, Relay, my go-to money management and online banking platform. Signing up is free and takes under 10 minutes. Plus, if you use my link, you’ll get a $50 sign up bonus when you fund your new account. Sign Up for Relay