A New Approach to
Reinventing Your Practice
Dr. William R. Lynch and his ClearLifePath Consulting Team offer in-depth guidance to help clients create elegant businesses within their chosen clinical methodology. CLPC works closely with clients to share lessons and strategies in building and growing cash-based practices based on 30+ years as a successful psychiatrist.
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Monthly Archives: January 2012
Fast Failure in Psychotherapy and Psychiatric Businesses
I’m in my office listening to a podcast from The Cambridge Judge Business School. Reid Hoffman of LinkedIn is the speaker/interviewee in the segment I am just now finishing. He introduced, to me, the concept of “Fast Failure” in starting new ventures. The idea is that you want a new project to fail quickly. That [...]
Opportunity Cost, Part 2
In a recent posting, “Opportunity Cost, Part 1” I focused on the value of taking time off from work and especially traveling to new places. Working 24/7 as a therapist or psychiatrist will always yield an accounting gain but will always result in an economic and psychological loss. Another situation in which a careful opportunity [...]
Billing in Psychotherapy Practices, Part 1
Adopting the use of billing software cured a huge headache in my office operations. When I first started in this business, bookkeeping and billing was all done by hand, believe it or not. I was lost in the fog of how things were done. In my last therapy session of the month, Herb, my first [...]
Opportunity Cost, Part 1
According to Wikipedia “Opportunity cost is the cost of any activity measured in terms of the value of the best alternative that is not chosen (that is foregone). It is the sacrifice related to the second best choice available to someone… who has picked among several mutually exclusive choices.” Josh Kaufman in his Personal MBA [...]