Therapist Finances in 2025: What’s Working, What’s Risky, and What to Watch In this quarterly recap, Julie Herres sits down with Green Oak Accounting’s Jacquie Carter for a candid conversation about the financial realities therapy practice owners are facing in 2025. From insurance shifts to hiring woes, this episode is packed with no-fluff guidance for navigating uncertainty. You’ll hear: Why now isn’t the time to drop insurance panels (even if you want to) What “people pleasing” looks like in p...
May 30, 2025•33 min•Season 5Ep. 182
Understanding Tax Inequities: Why Billionaires Pay Less In this episode of 'Therapy for Your Money,' host Julie Herres, an accountant and owner of Green Oak Accounting, delves into the often-asked question of why billionaires seem to pay so little in taxes compared to small business owners. Julie explains the U.S. tax system's design to benefit the ultra-wealthy and explores the 'buy, borrow, die' strategy that allows billionaires to leverage their assets without triggering taxable events. She a...
May 23, 2025•17 min•Season 5Ep. 181
Smart Money Moves for Therapists in a Shaky Economy Feeling nervous about the economy? You're not alone—and you’re not powerless. In this episode, Julie Herres welcomes financial planner David Frank back to the show for a calming and practical conversation about what therapists can do when things feel financially unstable. You’ll learn why panic doesn’t serve your practice—and what to do instead. Whether you’re watching the market dip, worried about Medicare or Medicaid cuts, or just feeling the...
May 16, 2025•26 min•Season 5Ep. 180
Episode Summary Thinking about switching your group practice from 1099 contractors to W-2 employees? You’re not alone—and you’re not crazy for feeling overwhelmed by it. In this episode, Julie talks with group practice owner and consultant Amy Dover about her real-life journey making this transition. Amy shares what triggered the change, the surprises along the way, and what she wishes she knew from the start. Labor laws, compensation shifts, team dynamics, and aligning your business model with ...
May 09, 2025•25 min
Scale Your Therapy Practice Fast: Clinicians, Clients, Cash & Space In this episode, Julie walks you through the four critical systems you need to grow your therapy practice quickly and sustainably. You’ll learn how to recruit clinicians before you need them, attract a steady stream of clients, plan for cashflow dips, and optimize your office space. By the end, you’ll have a clear roadmap to coordinate all four factors—so your practice can expand without burning out your team or your bank ac...
May 02, 2025•18 min•Season 5Ep. 178
Adding Supervision to Your Therapy Practice for Financial Stability In this episode of 'Therapy for Your Money,' host Julie Herres welcomes Brittany Schank to discuss the benefits of incorporating supervision into therapy practices. Brittany, a group practice owner from Fargo, North Dakota, shares her journey of adding supervision to create financial stability amidst the unpredictable nature of insurance payments. They delve into the logistical aspects of providing supervision, including the est...
Apr 25, 2025•20 min•Season 5Ep. 177
Budgeting vs. Investing: Smart Financial Decisions for Therapy Practice Owners In this episode of 'Therapy for Your Money,' host Julie Herres, owner of GreenOak Accounting, discusses how therapy practice owners can navigate the challenging decision of when to be frugal versus when to invest in growth. Julie offers a step-by-step guide on setting up a startup budget, allocating funds, and revisiting financial milestones. She also explores the pros and cons of taking on debt and the importance of ...
Apr 18, 2025•16 min•Season 5Ep. 176
Adding an online course or coaching offer can feel like a natural next step for private practice owners—but it comes with its own financial considerations. In this episode, Julie Herres walks through how to manage revenue from a course or other non-clinical income stream without creating chaos in your books . You’ll learn how to separate course finances from your practice, when it might be time to set up a separate entity, and how to use Profit First principles to allocate funds for development,...
Apr 11, 2025•13 min
Optimizing Insurance for Therapy Practices with Jeremy Zug In this episode of Therapy for Your Money, host Julie Herres speaks with Jeremy Zug, co-founder of Practice Solutions, about the intricacies of insurance for therapy practices. They discuss the reasons for taking insurance, navigating reimbursement rates, the steps in the credentialing process, and managing the revenue cycle. Jeremy emphasizes the importance of being strategic when selecting insurance providers and highlights the hurdles...
Apr 04, 2025•25 min•Season 5Ep. 174
Navigating Finances and Tech for Your Therapy Practice In this episode of Therapy for Your Money, Julie Herres, owner and accountant at GreenOak Accounting, discusses how technology impacts financial management for therapy practice owners. This episode was recorded after the unexpected closure of Bench.co, a popular bookkeeping service, which sparked this important conversation about owning your financial data and the potential risks of relying solely on cheap, tech-driven accounting options. Ju...
Mar 28, 2025•17 min•Season 5Ep. 173
Maximizing Income in Private Therapy Practice In this episode of Therapy for Your Money, host Julie Herres shares valuable tips on how therapists in private practice can predict their income and maximize their take-home pay. Julie explores three controllable factors in a practice: the number of sessions, the rate per session, and the percentage of income retained. By understanding personal capacity, examining historical data, and accounting for yearly variability, Julie provides concrete steps f...
Mar 21, 2025•30 min•Season 5Ep. 172
Navigating Tax Considerations for Multi-State Telehealth Practitioners In this episode of 'Therapy for Your Money,' host Julie Herres addresses a listener-submitted question about tax considerations for clinicians providing telehealth services across state lines. Julie highlights the complexities introduced by factors such as nexus, the location of clients, and state-specific tax laws. She offers valuable advice, emphasizing the importance of consulting with a tax preparer, maintaining clear cli...
Mar 14, 2025•13 min
Understanding Financial Health: A Guide for Therapy Practice Leaders In this episode of 'Therapy for Your Money,' host Julie Herres tackles the crucial issue of financial literacy for group practice leaders and clinicians. Julie, an accountant and the owner of Green Oak Accounting offers insights gleaned from her experience with private practice owners across the United States. The episode highlights the significance of grasping the financial realities involved in running a group practice, inclu...
Mar 07, 2025•17 min•Season 5Ep. 170
Join host Julie Herres on Therapy for Your Money as she sits down with Jamie Schrier to discuss the essentials of relationship marketing for therapy practice owners. They delve into why marketing is crucial for bringing dollars into your practice and the challenges many therapists face when it comes to self-promotion. Jamie shares his journey from a busy physical therapist to a successful coach and explains how vulnerability and authenticity can strengthen your marketing efforts. Jamie also intr...
Feb 28, 2025•31 min•Season 5Ep. 169
Navigating Financial Challenges in 2025: Insights and Strategies for Therapy Practice Owners In this episode of 'Therapy for Your Money,' host Julie Herres, owner of Green Oak Accounting and author of 'Profit First for Therapists,' is joined by frequent guest Jacquie Carter to discuss various financial topics relevant to therapy practice owners. They cover a quarterly recap focusing on the challenges and changes faced by private practices in 2024, the importance of optimizing marketing efforts, ...
Feb 21, 2025•31 min
Increase Client Conversions with Effective Website Strategies In this episode of 'Therapy for Your Money,' host Julie Herres is joined by Daniel Fava from Private Practice Elevation to discuss the importance of investing in a well-designed website for therapy practices. Daniel shares common mistakes therapists make with their websites and emphasizes the return on investment a professional site can bring. Listeners will learn about the essential features every therapy website needs, such as clear...
Feb 14, 2025•29 min•Season 5Ep. 167
Mastering Marketing Strategies for Therapists with Avivit Fisher In this episode of Therapy for Your Money, host Julie Herres dives into marketing strategies with Avivit Fisher, founder of Redd Strategy. They discuss practical steps for attracting clients and transitioning from insurance to private pay. Avivit shares insights on setting up and scaling a practice, emphasizing the importance of local marketing, crafting a brand strategy, and organizing marketing tasks using project management tool...
Feb 07, 2025•18 min•Season 5Ep. 166
Adding a Nonprofit to Your Therapy Practice: Pros, Cons, and Compliance In this episode of Therapy for Your Money, host Julie Herres, owner of Green Oak Accounting, discusses the considerations and challenges of adding a nonprofit alongside your for-profit therapy practice. Julie explains the logistics of setting up a nonprofit, such as establishing a C corporation and obtaining nonprofit status from the IRS. She outlines the advantages, like tax-deductible donations and eligibility for grants, ...
Jan 31, 2025•16 min
Navigating Pay Raises in Therapy Practices: Key Considerations In this episode of Therapy for Your Money, host Julie Herres explores critical factors therapy practice owners need to consider when team members request raises. Julie highlights the importance of ensuring the business's financial health before rewarding employees and provides a comprehensive analysis of different compensation models, including salary, hourly rates, and commission-based structures. She shares practical tips on aligni...
Jan 24, 2025•21 min•Season 5Ep. 164
Integrating Ketamine-Assisted Psychotherapy into Your Practice In this episode of Therapy for Your Money, host Julie Herres delves into the logistics and financial benefits of adding ketamine-assisted psychotherapy (KAP) to a therapy practice. Joined by experts Dr. Sophia Branstetter and Karen Smith, they explore the minimal training requirements, income-generating opportunities, and how KAP can help manage seasonal income fluctuations. They also discuss the importance of community and consultat...
Jan 17, 2025•30 min•Season 5Ep. 163
Embracing Technology Trends in Therapy Practices with Amity Cooper In this episode of Therapy for Your Money, host Julie Herres discusses the intersection of technology and mental health with Amity Cooper, the owner of Clinical Career Collective. They explore the impact of emerging technologies like OpenAI, ChatGPT, and virtual reality on therapy practices. Amity highlights the potential these tools have for improving accessibility and client engagement, noting that immersive technologies are al...
Jan 10, 2025•22 min•Season 5Ep. 162
In the first episode of 2025, Julie Herres, host of Therapy for Your Money and owner of Green Oak Accounting, focuses on empowering therapy practice owners to take control of their finances. Julie provides practical tips to help listeners take charge of both personal and business finances, including: Maintain individual login credentials and use two-factor authentication for all accounts. Regularly review credit reports, bank statements, and financial transactions. Limit access to sensitive fina...
Jan 03, 2025•24 min•Season 5Ep. 161
Find the Perfect Balance of Growth in your Business In this episode of Therapy for Your Money, host Julie Herres dives into the importance of effective delegation in private practices with guest Casey Gromer of C-Suite Boutique. Discussing the EOS framework, Casey emphasizes the distinction between visionaries and integrators. Key insights include the importance of delegating ownership rather than just tasks, understanding metrics, and the financial impacts of effective delegation. One notable q...
Dec 27, 2024•28 min•Season 5Ep. 160
Financial Success at Any Age In this episode of 'Therapy for Your Money,' host Julie Herres talks with CJ DeMarco, a therapist who transitioned to private practice later in life. They discuss setting up for financial success using the Profit First system. Key topics include the advantages of private pay, the importance of niching, and the potential of intensives for trauma therapy. DeMarco shares her journey from educator to trauma therapist, highlighting that it's never too late to achieve fina...
Dec 20, 2024•36 min•Season 5Ep. 159
Planning for Your Best Year Yet: Financial Goal Setting for 2025 In this episode of 'Therapy for Your Money,' host Julie Herres, an accountant and the owner of Green Oak Accounting, shares valuable insights on planning for a prosperous 2025. With her extensive experience working with therapy practice owners across the US, Julie emphasizes the importance of reflecting on the past year to set realistic financial goals. She discusses various financial targets, like revenue and profit margins, and t...
Dec 13, 2024•13 min•Season 5Ep. 158
Why I believe Whole Life Insurance is a Bad Investment In this episode of 'Therapy for Your Money,' host Julie Herres, owner of GreenOak Accounting, shares her strong opinion that whole life and universal life insurance policies are poor financial products. Julie delves into her personal experience with these policies, explains why they don't make financial sense for most people, and advocates for term life insurance. Focusing on keeping finances straightforward, she emphasizes separating life i...
Dec 06, 2024•17 min•Season 5Ep. 157
Marketing Strategies for Therapy Practices with Joshua Brummel In this episode of 'Therapy for Your Money,' host Julie Herres dives into the intricacies of marketing with Joshua Brummel, the founder of Therapy Flow. They explore how therapy practice owners can optimize their marketing spend, categorizing it into infrastructure and ongoing activities. Joshua shares crucial metrics such as cost per lead and client acquisition cost, emphasizing the impact of these on overall profitability. They als...
Nov 22, 2024•28 min
Navigating Retirement Plans: Avoiding Costly Financial Pitfalls In this episode of Therapy for Your Money, host Julie Herres dives into the complexities of retirement plans, focusing on the pitfalls of cash balance plans and the benefits of simpler options like 401ks and IRAs. Triggered by a recent client experience, Julie passionately argues against high-fee plans pushed by financial planners who are more interested in commissions than client welfare. She offers actionable advice, including thr...
Nov 15, 2024•15 min•Season 5Ep. 155
Financial Mastery for Therapy Practice Owners: Investing, Retirement, and Real Estate Insights In this episode of Therapy for Your Money, host Julie Herres delves into essential financial strategies for therapy practice owners with certified financial planner David Frank. The discussion spans various areas, including the importance of emergency funds, distinguishing between personal and business finances, and the advantages of fee-only financial planners. Listeners will gain valuable insights in...
Nov 08, 2024•41 min
Mastering Tax Debt: Strategies and Solutions for Therapy Practice Owners In this insightful episode of 'Therapy for Your Money,' host Julie Herres of Green Oak Accounting provides therapy practice owners with essential guidance on managing tax debt. Julie covers crucial steps for addressing IRS notices, exploring payment plans, and applying for offers in compromise. She warns about the potential consequences of neglecting tax responsibilities and explains IRS procedures before drastic actions li...
Nov 01, 2024•16 min
