Hey there everyone,

Have you ever hired someone to handle your insurance billing, only to have it turn into a total mess? Maybe even a nightmare? 😵‍💫

If so, you're not alone in that!

Today, I’ve shared with you the unvarnished truth about my own experience with insurance billing companies. Because over the course of 20+ years in private practice, I switched billing providers seven different times.

Yes... Seven. Times.

It was quite the journey.

Not gonna lie. 😒

But here's the thing.

There are times when hiring a billing company is EXACTLY the right thing for you to do. And handled well, it can bring you peace of mind, better cash flow, and even more business.

But handled poorly, it can cost you. A lot.

Today, I thought it might help if I told you some of the mistakes I made - and lessons I learned - so that you can get this right from the start!

In this episode, you'll hear:

• The one type of billing company that never worked out well for me (and the one that finally did).
• The most important rule when it comes to letting other people handle your money.
• Exactly what questions to ask when vetting a billing company (and exactly WHO to ask for reviews).
• My go-to resources if you need help with your billing (or - if you want to handle it yourself 🤓)

So give this a listen.

Because after going through 7 of these companies and countless headaches, I've learned a thing or two that might just save you years of frustration.

To your success,

~Wendy

P.S. While you’re here, can I ask a favor?

If you enjoyed this episode, please take 2 minutes to share a 5 star review and maybe a few words over on Apple Podcasts. Your support means more than you can imagine, and helps us get discovered by others who could use this kind of help. Thank you! 🙏

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MENTIONED:

Episode 57: Take Your Practice on the Road with Kym Tolson

Course: Bill Like A Boss

Episode 165: What If Insurance Billing Wasn’t So Hard? A Helpful Conversation with Jeremy Zug

Podcast: The Claim Game

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COACHING: Need a Quick Start Consult?

Got a problem in your practice that you can’t solve? Have an idea you want to try but don't know where to start? A Quick Start Consult gives you access to high quality coaching without the expense of a full blown coaching commitment. I'm serious about your success - so we don't just talk about your business. We work on it - together. Click here for details.

QUICK START CONSULT: https://www.wendypittsreeves.com/consult

Support the show

Wendy Pitts Reeves, LCSW
Host, Ideal Practice
Private Practice Coach and Mentor

www.WendyPittsReeves.com
Wendy@WendyPittsReeves.com

Buckle up, y’all, because we’re getting into one of the most critical (and most avoided!) topics in private practice ownership … paying yourself an actual salary.

I'm talking with the brilliant Carla Titus, a fractional CFO who helps mental health group practices and healthcare providers get financially healthy. Carla works with everyone from solo practitioners to seven-figure practices, and she’s the kind of person who speaks truth to us in a way that we need to hear it. :)

Because here's the thing …

You're not running a charity. You're running a business.

And CEOs don't work for free – so why should you?

In this episode, you'll learn:

• What’s really going on when you don’t pay yourself a salary. (Hint: it’s not because you don’t have the cash.)
• When debt could be a GOOD thing. 🤔
• The concept of "owner's equity" that will completely flip the way you think about starting a business (or even putting money into your practice).
• Key characteristics that ALL successful business owners have in common.

Carla also coined my new favorite phrase: "financial treatment plan."

That's exactly what we need, isn't it? The same intentional, systematic approach we use with our clients, but applied to our money. We get that language!

When you stop treating your practice like volunteer work and start paying yourself what you're worth, everything changes, my friend.

You show up differently. You serve better. And you actually enjoy running the business you worked so hard to build.

Give her a listen.

~Wendy

P.S. Carla was a high-energy, straight-talking, positive-thinking, downright inspiring guest. If you thought so too, would you mind giving her (and us!) a 5 star rating over on Apple? Thank you!

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TODAY’S GUEST: CARLA TITUS

Carla Titus is a finance expert with over 17 years of combined corporate financial planning, analysis, strategy, and online business experience. She provides fractional CFO services and financial consulting to business owners looking to grow their business profitably.

Carla is the owner of ‘Wealth & Worth Within’. Her mission is to empower business owners to achieve financial clarity and peace of mind, so that they can get back to what they enjoy.

Her Website: https://www.wealthworthwithin.com/

Her Podcast: CEO Financial Clarity Corner

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MENTIONED:

Full Focus Planner by Michael Hyatt

On Carla’s Podcast: Breaking the Cash Crunch Cycle: How to Stop Living Paycheck to Paycheck in Your Business

Support the show

Wendy Pitts Reeves, LCSW
Host, Ideal Practice
Private Practice Coach and Mentor

www.WendyPittsReeves.com
Wendy@WendyPittsReeves.com

I’m so excited about today’s conversation, guys, which is a weird thing to say about … insurance. 😵‍💫

Today’s guest, Jeremy Zug from Practice Solutions, lives and breathes mental health billing (yes, that's a thing!). And he doesn't sugarcoat it.

Mental health billing IS harder than medical billing.

Insurance companies DO play games with us. That little voice in your head telling you this stuff is complicated and frustrating? You're absolutely right. But here's what Jeremy knows that most of us don't - there's a better way to play this game.

In this episode, Jeremy walks us through his unique approach that completely flips the traditional billing process on its head. (I so wish I'd known this 20 years ago!)

In this episode, you'll learn:

• Why you should do payment posting BEFORE submitting a claim (this one tip alone could save you thousands).
• The red flags that mean it's time to walk away from an insurance contract.
• What to negotiate in your contracts beyond just payment rates.
• The six must-haves when choosing a billing service (... 7 if you include my own!).

Listen, I know many of you would rather have a root canal than deal with insurance billing. I get it. I've been there, got the scars to prove it. 😬

But avoiding this stuff doesn't make it go away. It just costs you money and creates problems in your therapeutic relationships.

So let’s learn how to do this better - for our clients’ sake, and our own.

Give this a listen.

~Wendy

P.S. Even if you don’t or can’t accept insurance in your practice, you may still find this an eye opening conversation. Would love to hear from you if you do!

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TODAY’S GUEST: JEREMY ZUG

Jeremy Zug is a nationally recognized leader in healthcare operations and financial optimization for mental and behavioral health professionals. An expert in insurance billing and revenue cycle management, his career drives financial health and operational excellence for these professionals.

In 2017, Jeremy co-founded Practice Solutions with his wife, Kathryn. This expanded medical billing company offers billing services, professional support, and educational resources to thousands of mental and behavioral healthcare providers for optimal revenue cycle management. Their combined knowledge, stemming from private practice experiences in college, underpins the company's success in supporting financial well-being.

His Website: Practice Solutions

His Podcast: The Claim Game

_______________

COACHING: Need a Quick Start Consult?

Got a problem in your practice that you can’t solve? Have an idea you want to try but don't know where to start? A Quick Start Consult gives you access to high quality coaching without the expense of a full blown coaching commitment. I'm serious about your success - so we don't just talk about your business. We work on it - together. Click below for details.

QUICK START CONSULT https://www.wendypittsreeves.com/consult

Support the show

Wendy Pitts Reeves, LCSW
Host, Ideal Practice
Private Practice Coach and Mentor

www.WendyPittsReeves.com
Wendy@WendyPittsReeves.com