Wait, you mean you have to charge for your amazing services?! How scary!! The pricing conversation is a BIG one! If you’ve ever felt scared to ask for a dollar amount, to raise your prices or even did what most clinicians do and undercharged, this episode is for you! Claire McLean, PT, DPT, NCS, Erin Gallardo, PT, DPT, NCS, and Emily Duval Ledger, CPT dive deep into setting and raising prices for professional services. The key takeaway is clear: healthcare professionals often dramatically undervalue their expertise.
Many therapists and wellness professionals struggle with pricing, frequently charging far less than their services are truly worth. The hosts shared personal experiences of initially undercharging, revealing common mistakes that plague the industry. These include basing prices on limited insurance reimbursements, feeling guilty about charging fair rates, and failing to account for the true costs of delivering high-quality professional services.
Claire McLean introduced her "back and forth math" approach to pricing that considers multiple financial factors. This method involves calculating monthly income needs, factoring in taxes and business expenses, determining realistic client capacity, and carefully considering additional costs like staff, benefits, and overhead. The goal is to create a pricing structure that not only sustains the business but allows practitioners to deliver their best work.
The conversation highlighted several key pricing principles that can transform a struggling practice into a thriving business. Practitioners must recognize that their energy and expertise are their most valuable assets. Charging appropriately prevents burnout and allows professionals to maintain the passion that drew them to their field. By creating clear value and communicating pricing transparently, businesses can attract clients who are truly committed to their own transformation. Learn practical strategies and insights so you and your clients will both thrive!
