Your Practice, Your Way: Insurance Edition

Are you thinking about building a private practice? Excellent choice! 

You get to be your boss, set your hours, and decorate your office with that slightly too-large plant you secretly love.

 But then comes the inevitable question: insurance. 

Accepting it can open doors to more clients, but the world of credentialing and billing can feel like trying to assemble IKEA furniture without instructions. 

Don't worry, we get it. It's not everyone's idea of a good time, but fear not! We're here to guide you through the options, especially if handing over a chunk of your earnings to specific platforms makes your eyebrows dance with disapproval.

Diving into Insurance: The Credentialing Quest

Before you can even think about submitting a claim, you've got to get credentialed. Think of it as getting your official "yes, this person knows what they're doing" stamp from the insurance companies. 

We’ve got a whole blog post dedicated to the credentialing process, or our book Insurance Billing Basics: Steps for Therapists to Successfully Take Insurance gets into the nitty-gritty, but for now let’s look at the broad strokes of methods you can use to get credentialed.

The Alluring, Yet Potentially Less Liberating, Platform Path: Alma, Headway, BetterHelp, and Their Kin

Enter the platforms. Companies like Alma, Headway, and BetterHelp often present themselves as a streamlined solution for accepting insurance. They typically offer to manage your credentialing or handle all the tedious insurance billing, and they can certainly connect you with individuals seeking therapy. 

It sounds like a dream, right? 

A quick and easy way to get started. However, before you jump in with both feet, it's wise to consider the potential trade-offs. While they offer convenience, this often comes at the expense of true independence. You might find yourself relinquishing a significant portion of your earnings in exchange for these services. 

Furthermore, for those who envision complete autonomy over their practice – from setting your own fee structure to having ultimate control over your therapeutic approach – these platforms can feel somewhat limiting. The very essence of building your practice, your way, can be diluted when operating within the framework of these larger organizations.

The Delegation Delight: Hiring a Credentialer

Now, if the thought of paperwork makes your soul gently weep, consider hiring a credentialer. 

These are one of the superheroes of the insurance world, fluent in the language of provider applications and paneling requirements. 

They'll take the whole process off your hands, navigating the forms and phone calls so you don't have to. This allows you to focus on the parts of your practice you enjoy, like, you know, helping people. If you're looking for a qualified credentialer we recommend and trust, contact us at Practice Solutions, and we'd be happy to connect you with someone fantastic.

The DIY Dynamo: Credentialing Yourself

For the brave souls among you who like to know the inner workings of everything (and maybe save a few bucks), you can absolutely credential yourself. 

It'll involve some research, a bit of patience, and possibly a few deep breaths, but it's entirely doable. 

You'll become intimately familiar with the requirements of each insurance company, which can be quite insightful down the road. Think of it as learning to change your own oil – initially daunting, but empowering once you've got it down. There are plenty of resources out there to guide you through this process, including our book Insurance Billing Basics where we cover not only the credentialing process, but credentialing strategies.

So, What's Your Private Practice Fantasy? Time to Dream a Little

Seriously, take a moment.

Close your eyes (well, maybe after you finish reading this paragraph). What does your ideal private practice feel like? What are the non-negotiables for you? This little thought experiment is surprisingly helpful in figuring out the best path for accepting insurance.

Does your perfect practice involve:

• Having the Final Say on Your Fees? While platforms manage the billing, they also dictate their cut. In an independent setup, you set your rates. You decide what feels fair for your time and expertise. You control your financial destiny. Independence is a big deal.

• Practicing Therapy Exactly How You See Fit? Being part of a larger organization might mean adhering to certain guidelines or treatment protocols. Independence lets you tailor your approach to your specific training and the unique needs of each client. You get to be the artist of your therapeutic craft.

• Building a Brand That's Uniquely You? When you're under a platform's umbrella, your individual identity might get a little lost in the crowd. Going independent allows you to cultivate your own brand, your own voice, and connect with clients who resonate with your specific style and expertise.

• Directly Engaging with Insurance Companies (Yes, Really!)? Okay, we know, dealing with insurance companies might not sound like a barrel of laughs. But having direct relationships can actually provide more transparency and control over the reimbursement process. You can address issues directly and advocate for your clients with more clarity.

Choosing Your Adventure: Independence and Insurance Can Coexist

The convenience of platforms can be tempting. 

But if you're truly aiming for a private practice that reflects your individual values and goals, then embracing independence while still accepting insurance is absolutely achievable. 

It might require a little more effort upfront, like actually reading those IKEA instructions, but the long-term rewards of autonomy and the ability to build the practice you envision are well worth it. 

So, take a deep breath, consider your options, and remember: your practice, your way, is entirely within your grasp. And if the thought of tackling credentialing on your own feels overwhelming, don't hesitate to reach out to us at Practice Solutions. We can connect you with qualified credentialers who can help you navigate the process smoothly, then pick up where the credentialer left off to manage your insurance billing.