Handling Holiday Slowdowns in Private Practice

The holiday season is often a time when families travel, gatherings are many, client’s lives get busy, and new year resolutions are on the horizon but have yet to be made.  This can lead to higher than usual client cancellations or a lull in referrals.

If you are new to private practice, and haven’t weathered a month of increased client cancellations and fewer than usual referrals it can cause a bit of panic!

You might not be expecting the financial hit at a time you need extra income for holiday expenses.  On the other hand, you might welcome the additional time you have to focus on personal endeavors or take time off during the holiday season.

Either way, here of some helpful strategies to help you keep your business growth on track during the holiday season.

Revamp your Marketing

• Spend some time updating your professional online profiles like Psychology Today, Linked In, etc.
• Update the website for your practice making sure it is easy to navigate and clearly speaks to your ideal client
• Connect with other therapist colleagues, update your referral list, and network with other local businesses
•  Participate in a charity event or clothing drive

Maintain Healthy Work/Life Boundaries

• Enforce no/show and late cancellation policies you have in place for your practice
• Prioritize self-care and making space for enjoying the season
• Catch up on practice tasks you have been meaning to get done
• Revisit your ideal work schedule and make adjustments for the year ahead

 Revisit your Practice Finances

•  Prepare for tax season by making sure all expenses and accounting is in order
• Create a budget for the upcoming year
• Reflect on your income as the year ends and set new financial goals for your practice
• Review your rate structure and determine if an increase is needed for the new year
• If you take insurance, review reimbursement rates and ask for rate increases where appropriate

The longer you are in private practice, the easier it becomes to anticipate when you will have fluctuations in referrals and income.  Being able to direct your time and energy when these lulls can help you better accomplish your business goals.

Interested in learning more about growing your private practice in mental health?  If you want to connect with other therapists like you, check out our Facebook Group below and have a joyous holiday season!