How to Diversify Your Income as a Therapist

What do therapists get wrong when they're starting to think about diversifying their income as a therapist? One of the big things that we get wrong is really in our mindset of thinking about how do we leverage our clinical skill sets outside of one-on-one work. I spend a lot of time helping clinicians think about the possibilities about how they can take their knowledge and their skills.

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The Sky is Falling: How Therapists Can Protect Our Industry, Patient-Centered Care, and Our Businesses, An Interview with Dr. Ajita Robinson

Curt and Katie interview Dr. Ajita Robinson about innovation within the mental health industry that could threaten therapists in private practice. We chat about Value Based Care in insurance, insurance credentialing companies, and big tech disruptors. We also talk with Dr. Ajita (an income strategist) about ways that therapists can diversify their income leveraging both their license AND their knowledge, to try to mitigate these risks to our businesses.

Transcripts for this episode will be available at mtsgpodcast.com!

In this podcast episode, we talk about how therapists can protect our profession

With the changes to our industry, we thought it would be important to talk with Dr. Ajita Robinson, an income strategist and insurance expert, about how therapists can weather the storm.

What are the threats to the mental health industry?

· Big tech companies innovating in our space, with a focus on efficiency

· Value-based insurance billing

· Credentialing and billing services (like Alma and Headway) moving us out of direct communication with insurance companies

How can therapists leverage their skills for alternative revenue streams?

· Understanding what other types of services can therapists provide

· Clarifying when we’re leveraging our knowledge versus leveraging our license

· Identifying problems that we’re best situated to solve

· Entering the self-help industry

How can therapists get started when they are ready to leverage alternative revenue?

· Identifying the problem you solve rather than the transformation you want to provide

· Understanding what your target client has already tried

· Knowing what the barriers are for them to solve their problem

· Clarifying who is the customer and who is the consumer

· Contracting with schools, cities, etc. is possible for therapists to increase income

· Accessing resources and experts to help you do what you need to do

· Distinguishing when to start a separate business

Resources for Modern Therapists mentioned in this Podcast Episode:

We’ve pulled together resources mentioned in this episode and put together some handy-dandy links. Please note that some of the links below may be affiliate links, so if you purchase after clicking below, we may get a little bit of cash in our pockets. We thank you in advance!

Dr. Ajita’s website

Dr. Ajita Robinson’s book: The Gift Of Grief: A Practical Guide On Grief And Loss

Facebook: facebook.com/drajita

Instagram: instagram.com/dr.ajitarobinson

LinkedIn: linkedin.com/ajitarobinson

Facebook group: Purposeful & Profitable Therapist Community

Purposeful and Profitable Summit in July