Transcript
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Welcome to Ask Abundance. Y' all ask the questions about having a fun and thriving practice. We answer them. We have a worksheet for you today so you can bring this answer into your life. If you want support in your practice, we have you covered with on demand or one on one support. Links for the worksheet and support are in the show. Notes can't get enough Ask Abundance. Check out our YouTube channel for the entire library. Welcome back to Ask Abundance. Today I'm joined by Kim Wheeler, Poitvian. Kim's going to be doing one on ones with Abundance, just like she has for years and years. So if you're interested, go ahead and hit the link in the bio. Here's today's question. I've been in private practice for a few years and I'm consistently full, but my fees haven't really changed since I started. I know I need to raise them to keep this sustainable, but I'm scared that doing so will upset the referral sources I've helped that have helped get me here or make them stop sending people my way altogether. I don't want to burn bridges or look ungrateful, especially with colleagues and agencies I genuinely respect. How do I raise my fees in a way that protects those relationships and doesn't blow up my referral pipeline. So by Kim's face, I know she has the answers too. Before we get into it, I would love to thank our sponsor, TherapyNotes. I've talked about Therapy Notes for years and know their features by heart, but here's what truly sets them apart. First, they genuinely care about your experience. It's not just about troubleshooting. They actively implement user suggested features like Therapy Search, secure Messaging and their AI notes feature. Therapy fuel. Everyone at TherapyNotes believes in the product and they want you to love it too. Plus, they're independently owned, which means no venture capital and no pressure to prioritize investors over their customers. This independence allows them to keep prices fair, focus on innovation, and prioritize customer experience. With over 100,000 therapists already on board, they've proven that you don't have to compromise success for quality. If you're ready to see for yourself, try Therapy notes free for two months with the code abundant@therapynotes.com all right Kim, let's get into it.
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Okay, heavy question. So I would say the first thing is that most, not all people are going to understand that rates are going to go up because price everywhere has gone up. So that's the first thing is that that you have to yourself that you need to raise your rate and get comfortable with it. And the one thing that I talk to each person that meet with on the call is to get comfortable with what your rate is. Even if you're like looking in the mirror and you're saying what it is, that you know that that's what your rate is. And to say it and that way that you're not guessing at what it is, that you just know exactly that this what it is. And my favorite thing is water is wet, the sky is blue, and this is what my rate is. So that you know that this is what the truth is and that you can start initially with new clients with this is what your rate is and get comfortable with charging them that. That way that once you start having these referrals that are coming in from other places, that they're also going to see what your referral, what your actual rates are. A lot of times they're going to expect that the rate is going to go up. Or if you are meeting in regularly with these referral sources, I always recommend to check in with them on a regular basis, whether it's quarterly or every six months or so. And you're touching bases them anyway. So you're saying, hey, I just want to give you an FYI that I'm moving off of this particular insurance panel, or just to let you know, this is what my range still is. And as long as you're transparent about that, they'll be really clear about who they're going to refer you to. It's really more so us as a clinician and as a business owner that gets really caught up in, is anyone going to refer to me? Some people are and some people aren't. You may price some people out. And other people are going to say, okay, well, maybe this particular person can't afford you, but I know someone else that will be able to afford you.
