The decision to accept insurance in your practice can be a difficult journey, riddled with fear, uncertainty and feelings of scarcity.
This doesn't have to be your experience. I've successfully built a 6-figure insurance based practice by being strategic and intentional.
Here are my top 5 reasons why you should accept insurance in your practice.
Money. Increase your income by joining the RIGHT panels for your business. This requires leg work on your part to research and identify the panels that make sense for your business model. This varies by region, specialty and discipline.
Referrals. Fill your practice with your ideal clients. Let's face it, how many of our clients (us, too) can afford to pay out of pocket each week? Furthermore, WHY pay out of pocket when more people have access to healthcare than ever before. Being an in network provider can insurance the amount of referrals that you receive.
Flexibility. Accept insurance to create your ideal schedule. Yes, that's right. Utilize your presence on insurance panels to fill daytime hours. Your status as an in network provider can be an assist used to target and partner with companies in your area whose employees you are interested in serving.
Networking. Your presence on insurance panels can be an opportunity to network and build relationships with other providers as a referral source.
Access. Quite frankly, for many clients access to adequate health care is a luxury. Accepting insurance is a way that mental health providers can help increase access for patients, help fight the stigma of mental health and help reduce health disparities among diverse populations.
If you're looking to credential your practice but you're not sure where to start, check out our Credentialing Checklist to get you started or apply to join our DIY Insurance 101: Getting Paneled for Mental Health Professionals Course.
If you aren't a member of our FB Community: Mastering Insurance for Mental Health Professionals, come on over. We are welcoming to INN and ONN providers.