As a mental health provider, you offer so much to your clients, but who is helping you behind the scenes? Whether you run an individual practice or manage a group practice your focus is often on providing quality care for your clients and patients, but to sustain and grow your practice effectively, robust financial and business planning is a must!
Unfortunately, planning for unpredictable cash flow, managing billing and expenses, understanding benefit options for owners and employees, and planning for the future can be daunting without help. Add in the need to also plan for your personal financial life, and things can get hectic quickly!
This is why we created a financial and business planning service designed specifically for mental health practice owners. Our planning process can help improve the financial health of your practice — big or small — and support your personal financial well-being for the present and future. After all, a solid foundation for your practice can mean much more flexibility for your financial needs and wants down the line.
What Is Financial Planning for Mental Health Practice Owners?
Not all mental health providers are able to (or even want to) bring on an employee or contractor to manage the many aspects of their practice's financial health. At EViE, we help you bridge the gap between traditional bookkeeping and accountant services and higher-level CFO services, so you can more effectively balance the time you spend providing care.
The focus of this service is to provide practice owners with a clear understanding of where they stand financially within their business. We do this by cracking open the books and reviewing your state of the union, both personally and professionally, to start. It’s impossible to know how you’re getting to the next destination if you aren’t sure where you’re starting! Then, we get to work on identifying goals for you and your practice, followed by prioritizing specific needs or wants you have for your financial life. Our advisors then work to analyze and strategize on your behalf to design and implement a plan that works for you and your practice.
We provide actionable, realistic, reasonable strategies for understanding your current financial picture, the goals you want to work toward in your personal and business life, and how to get there effectively. We break down the helpful but often overwhelming financial details of your business and personal life so you know what you’re doing, why you’re doing it, and the how behind it all. We also help you integrate the two in an efficient and streamlined way, and act as an accountability partner along the journey.
No matter your mental health practice's focus, size, or revenue, the process we’ve developed at EViE Financial can offer the support and guidance you need.
Interested in learning more? Check out our Financial Planning for Mental Health Professionals services, or give us a shout. We’d love to chat!
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