Episode 160

full
Published on:

19th Oct 2024

Episode 160: Overcoming Financial Obstacles in Private Practice [featuring Michael Fulwiler]

In this episode, I talk with Michael Fulwiler, Director of Brand at Heard, about the financial challenges therapists face in private practice and how to overcome them.

Here are 3 key takeaways:

  1. Understanding Insurance's Impact: Insurance companies keep therapists in the dark about reimbursement rates, leading to financial uncertainty and an average of 25% lower earnings compared to out-of-network providers.
  2. Strategies for Financial Growth: It's essential for therapists to set fees based on personal financial needs rather than industry benchmarks. Confidence and strategic fee management can alleviate financial strain and improve practice sustainability.
  3. Embrace Financial Support: Outsourcing financial management tasks can save precious time and reduce stress. Utilizing services like Heard can streamline bookkeeping, tax estimations, and filing, allowing therapists to focus on their core mission.

It's time to break the taboo around money in private practice and empower therapists to build sustainable, thriving businesses.

More about Michael:

Michael Fulwiler is the Director of Brand at Heard, the financial back office for therapists, and the host of Heard Business School, a new show for therapists building their own businesses. He’s also the creator of Therapy Marketer, a popular newsletter for therapists. Previously, he was the Chief Marketing Officer at the Gottman Institute.

–––––––––––––––––––––

🎙️Listen to more episodes of the Neurodivergent Entrepreneur Podcast: https://ndpod.org

🎙️Spotify: https://ndpod.org/Spotify

🎙️Apple: https://ndpod.org/Apple-Podcast

🎙️ YouTube: https://ndpod.org/YouTube

🧠 Neurodivergent Entrepreneur Freebie Vault: https://ndpod.org/Freebie-Vault

✈️ Learn about Retreats: https://www.allthingspractice.com/private-practice-retreats

🗨️ Join The NeuroPreneur Circle Community: https://www.allthingspractice.com/neuropreneur-community

🗨️ Join the free Empowered Escape FB Community: https://www.facebook.com/groups/empoweredescape

–––––––––––––––––––––

Thanks to Our Sponsors: The Receptionist for iPad!

✨ NeuroPreneur Circle

NeuroPreneur Circle is an online community built by and for neurodivergent entrepreneurs who want a supportive space to build a business, a space where they can show up as themselves and in whatever way feels most comfortable. NeuroPreneur Circle exists because community built on masking isn't really community. And business advice built for neurotypical brains isn't actually useful to us, no matter how many times we try to make it fit. Whatever your neurotype, whatever you're building, there's a space here for you. You've been creating alone long enough. Visit: https://atppod.com/community

Free Gifts for Our Listeners

✨ Free Podcasting Workbook

Get a practical podcasting workbook for therapists considering starting a podcast, created by Patrick Casale, host of the podcasts All Things Private Practice and Divergent Conversations.

You'll get a practical structure for therapists who want to start a podcast but don’t want to rush, perform, or build something they can’t sustain.

Grab your free copy of the Podcasting Workbook: https://ndpod.org/Free-Podcasting-Workbook

✨ Move Beyond Private Practice As A Neurodivergent Entrepreneur

Move Beyond Private Practice As A Neurodivergent Entrepreneur is a FREE 5-part mini-course designed for therapists who want sustainable financial independence beyond one-on-one work.

Access your free mini-course here: https://ndpod.org/Neurodivergent-Entrepreneur

Mentioned in this episode:

NeuroPreneur Circle Community

NeuroPreneur Circle is an online community built by and for neurodivergent entrepreneurs who want a supportive space to build a business, a space where they can show up as themselves and in whatever way feels most comfortable. NeuroPreneur Circle exists because community built on masking isn't really community. And business advice built for neurotypical brains isn't actually useful to us, no matter how many times we try to make it fit. Whatever your neurotype, whatever you're building, there's a space here for you. You've been creating alone long enough. Visit: https://atppod.com/community

Next Episode All Episodes Previous Episode

Listen for free

Show artwork for The Neurodivergent Entrepreneur

About the Podcast

The Neurodivergent Entrepreneur
Honest conversations about building a business while Neurodivergent, the self-doubt, the chaos, and everything in between.
The Neurodivergent Entrepreneur is a podcast for ADHD, Autistic, and all other neurodivergent entrepreneurs who are building businesses, creative work, and lives that actually fit how their brains work. Hosted by Patrick Casale, LCMHC, this show is for people who
want to create meaningful work, create outside of the box, grow their impact, and build something sustainable without losing themselves in the process.

Being a neurodivergent entrepreneur can feel like holding a lot of contradictions at once. You may have big ideas, deep passion, creative energy, and a strong desire to do things differently. You may also be navigating burnout, masking, self-doubt, perfectionism, rejection sensitivity, executive dysfunction, inconsistent energy, and the pressure to keep showing up when your capacity is already stretched. This podcast speaks to that reality honestly, because building a business around your brain, your values, and your lived experience can be powerful, complicated, messy, and deeply personal.

Patrick Casale is a chronically ill, AuDHD, mental health therapist, entrepreneur, TEDx speaker, event host, group practice owner, and neurodivergent business owner who has built, grown, burned out, pivoted, and kept going. His work brings together clinical insight, lived experience, business perspective, and real conversation about what it actually takes to create something that feels values aligned. His conversations are direct, compassionate, unfiltered, and practical, with room for both the emotional reality of entrepreneurship and the concrete decisions that shape a sustainable business.

New episodes drop every Wednesday and feature honest conversations with neurodivergent entrepreneurs, creators, therapists, business owners, and leaders. Together, Patrick and his guests explore entrepreneurship, identity, mental health, chronic health,
creativity, leadership, systems, money mindset, visibility, community, sustainable growth, and the behind-the-scenes reality of creating work that matters.

Build your dream business. Protect your capacity. Work with your brain instead of against it.