Less Admin, More Therapy

Welcome to Yakity Yak, your weekly boost for a smoother, more efficient practice.

At Practice Yak, we’re dedicated to helping therapists and mental health professionals streamline the administrative side of their work, so they can focus on what matters most: client care. Our tools and tips aim to simplify billing, scheduling, and everyday admin tasks, providing therapists with a better way to manage their practices and find balance. We’re here to support you in building a thriving, less-stressful business!

Below is the LET’S YAK format. Each section is designed to provide you with valuable insights and support as you manage your practice. "Let's Yak" covers seven key areas we believe are essential for success: Learn, Encourage, Training, Services, Yearn to Earn, Action, and Kommunity Events. Every week, we'll bring you expert advice, motivational stories, training opportunities, and practical tips to help you grow personally and professionally. We’re here to empower you with the tools and resources to thrive. So let’s yak about how we can make your practice even better!

L - Learn

Harness the Power of Time Blocking - Admin Edition

Time blocking is a productivity technique that divides your day into specific blocks of time, each allocated to a particular task or activity. By scheduling dedicated time for focused work or tedious work or mundane work gives accountability to finish it.

Here’s a scenario - You have dozens of follow-up emails or phone calls to make. Create a dedicated time in your day, say the thirty minutes before you eat lunch. Knock them out. Treat yourself to finishing with lunch.

This gives you a dedicated time plus an end to the list regardless if you finish. Create the list ahead of time or add them to a dedicated list that you know you knock out everyday between 11:30-noon.

E - Encourage

T - Training

Telehealth services are not going away so now is the time to get onboard.

If you haven’t explored telehealth before there are many resources to make it an everyday appointment for you.

Some resources and course that could help out

• Telepsychology Best Practice 101 Series through the American Psychological Association

• How to Make the Most of Telepsychology through the American Psychological Association

S - Services

The Referral Yak Attack! 

• In the world of therapy and mental health, referrals are a vital lifeline. Not only do they help clients find the right fit for their needs, but they also foster a sense of community among professionals. At Practice Yak, we believe that collaboration is key to enhancing the support network for both practitioners and clients.

  Here are some tips to ramp up your referral game:

  1. Network Wisely: Build relationships with other professionals in your field. Attend workshops, conferences, or local meet-ups to connect with potential referral partners.

  2. Specialize Your Referrals: Understand the unique strengths and specialties of your colleagues. When you refer clients to others, you not only help them find the right support but also build trust in your professional network.

  3. Follow Up: After making a referral, check in with both the client and the colleague to ensure everything is going smoothly. This shows that you care about the client’s journey and strengthens your relationships.

  4. Give Back: When you receive referrals, express your gratitude. A simple thank-you note or a shout-out on social media can go a long way in solidifying those connections.

  5. Join a specific peer group: joining groups specific to your patient population encourages discussion about best practices but also allows for members to refer to each other if there is a better fit or variable caseload.

In the spirit of collaboration, let’s make this a Referral Yak Attack! Share your experiences, successes, and tips with us at Practice Yak, and let’s help each other grow our practices while providing the best care possible.

At Practice Yak we practice what we preach and can build your referral list for you. We are happy to attend conferences and meetups on your behalf or sit with you to give you the download of what we learned or who we met!

Y - Yearn to Earn

Planning for retirement as a solo practice owner is vital, yet it can feel challenging without an employer’s retirement plan. Here’s a roadmap to help you start saving confidently for a secure future. Disclaimer: This is not financial advice, YAKs cannot be financial planners…

1. Open a Solo 401(k) or SEP IRA
   These retirement accounts are tailored for self-employed individuals, allowing you to contribute as both the “employer” and the “employee.” With a Solo 401(k), you can save up to $66,000 per year (2023 limit), depending on your income, and a SEP IRA also offers high contribution limits. Both have tax-deductible contributions and deferred taxes on growth until you withdraw in retirement.

2. Automate Contributions
   Set a fixed monthly amount to transfer to your retirement account, just like a recurring bill. Automating contributions, even if it’s a small amount to start, helps you stick to your plan and grow your savings over time.

3. Diversify with a Roth IRA
   In addition to your Solo 401(k) or SEP IRA, consider a Roth IRA if you qualify based on income limits. Contributions are made post-tax, allowing for tax-free withdrawals in retirement, giving you a tax-diverse income.

A - Action

FIND AN ACCOUNTANT. Navigating finances can feel overwhelming, especially when balancing it with client care. Having an accountant who understands the nuances of mental health practices can make all the difference. Here are some tips to find one who’s a great fit:

1. Seek Industry Experience – Look for an accountant who specializes in working with therapy practices or small healthcare businesses. They’ll be familiar with tax deductions specific to your field, billing nuances, and compliance needs.

2. Check Credentials – Verify their certifications (like CPA or CMA) and look for accountants who are proactive with industry changes.

3. Understand Their Services – Not all accountants handle the same tasks. Confirm if they’ll manage bookkeeping, tax prep, payroll, or consulting so you get the support you need. As discussed before, a good bookkeeping software is Quickbooks.

4. Discuss Communication and Fees – Transparency is key. Set expectations around how often you’ll connect, the preferred communication method, and fee structure.

5. Ask for Referrals – Other therapists or healthcare professionals may know someone reliable and trustworthy. Personal recommendations go a long way in finding an accountant who truly understands your unique financial landscape.

Choosing an accountant you trust can simplify your practice management, giving you peace of mind and more time for your clients.

K - Kommunity Events

No kommunity events yet but the Yak is working on getting a local peer group in Baton Rouge.

More news coming soon!

P.S. If you have any topic you want to yak about, reply to this email and I will do the research and include in the next the Yakity Yak!

P.P.S. - If you want to contribute a post reply, and we can get you plugged in!

Head Yak Out

Get in Touch:

Have any questions or need immediate assistance? Don’t hesitate to reach out to me at [email protected]. We’re here to help you succeed!

Practice Yak - We’re excited to be a part of your journey to a more efficient and successful practice.

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Best regards,
Lane
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