293: How To Increase Fees With Existing Clients - a podcast by Melvin Varghese, Ph.D.
from 2021-10-21T03:00
Today’s topic is one that many clinicians have navigated, are navigating, or will navigate in the future. It’s the idea of increasing fees with existing clients. I’ve seen this topic come up repeatedly in online groups for therapists, and I know it brings anxiety and confusion. Let’s dig into it together!
Our Featured Guests
Kelly Higdon and Miranda Palmer
Kelly Higdon and Miranda Palmer are therapists, private practice owners, and the founders of ZynnyMe, where they teach and train therapists to build valuable and gratifying businesses. Their year-long training program, Business School Bootcamp, is a super-powerful system that teaches therapists everything they wish they had learned in grad school about running a successful private practice. In this episode, Kelly and Miranda will discuss the idea that we are betraying our client if we increase fees, along with ways to work through that mindset. We will cover the nitty-gritty of how to communicate fee increases to clients with all the logistical nuances. Our conversation wraps up with simple scripts you can use during sessions to stay on track, be clear, and affirm your clients without causing feelings of abandonment.
Starting a Counseling Practice Podcast
You’ll Learn:
● Why the idea of increasing fees is intimidating even though many therapists are leaving a lot of money on the table
● Why increasing fees ties into mixed messages in our minds about our self worth and value
● How the cumulative effect of a sliding scale adds up to significant amounts over time and reflects bias that we usually guard against
● How automation in today’s world allows us to avoid those difficult conversations
● Why the recommendation is to create a letter but have the conversation with the client in session; give them the letter after the conversation (or email virtual clients)
● Why the letter is a transitional object and shouldn’t make excuses for the fee increase
● Ideas for scripting the notification letter and stating the fee increase
● The need for us to be honest with our clients to be able to continue providing great care
● The misconception that schedules and fees should always stay the same; these are unrealistic expectations!
● How to present workable options to clients without feeling like you’re abandoning them
● Why clinicians have to do what it takes to care for themselves before they can care for their clients
● Highlights in the conversation with clients about increasing fees:
○ Own your emotions about it.
○ Let the client know the relationship with them is valuable to you.
○ Check in with the client’s feelings and options moving forward.
● Why the window of notice should be long enough to prepare for termination or referral
One of the questions I get asked all the time as a podcaster is “what podcasts do you listen or subscribe to?” This might surprise you, but there's really only one show that I absolutely have to listen to . . . every week. Actually, every day. Like, I'll literally drop what I'm doing (unless I'm with the family of course) and listen to each episode when it drops.
The show is Tesla Daily, which is why I couldn't be more thrilled to have its host Rob Maurer on the show today!
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