Running a private practice in the UK as a psychologist or psychiatrist is both a rewarding and challenging endeavour. While the core mission remains to provide top-tier mental health services, the realities of managing a business often impose significant distractions.

The demands of finding customers, handling administrative tasks, managing the business accounts and ensuring prompt charges can detract from the time and energy dedicated to patient care. In the current economic climate, these challenges are exacerbated, making it more difficult for practitioners to maintain a profitable and stress-free practice.

 

Market Competitiveness

The inverted competitive landscape is causing substantial economic disruptions to the Mental Health industry, with a strong example being the In-industry price fluctuations.

• Even though initial EHC requests, the number of EHC plans and the number of active EHC cases have seen an increase in the past years – the number of plans issued have seen a substantial decrease.
• Due to the existing “pricing disputes”, Local Authorities are being faced with the challenging decision of undertaking more EHC cases due to:
  • Fluctuating pricing
  • Budget restrictions
  • Financial constraints in achieving EHC plan issued targets

Cross-industry price fluctuations also directly influence the profitability capabilities of smaller sized private entities, causing administrative, marketing, accounting and other routine tasks to feel as burdens rather than every-day activities that ensure good customer service.

 

The Economic Climate

The current economic environment in the UK adds another layer of complexity. With inflation and economic uncertainty, maintaining a profitable practice is more challenging than ever. Also, clients and agencies are becoming more cautious with their spending, and the costs of running a practice continue to rise. This situation demands innovative solutions to ensure sustainability and growth.

 

Overcoming Hurdles with Psychology Direct

We understand the unique challenges faced by private practitioners and we have structured our in-house resources to directly alleviate these burdens and support the growth and profitability of all our associates.

Guaranteed Business at Capacity – By partnering with Psychology Direct, you gain access to a steady stream of relevant assessments, ensuring that your practice is always at capacity.

Admin Support – We handle the majority of the administrative burden on your behalf, from client engagement to appointment scheduling and follow-up, reducing our associates’ workload, financial strain, and stress.

Consistent and Timely Pay Structures – Chasing for payment can be a labour intensive process, but with our structures in place, we guarantee your payment even if our accounts are yet to be settled.

 

The Importance of Collaboration – Join Our Event

By working together and sharing resources, we can navigate the challenges more effectively. To foster this spirit of cooperation, we are hosting a networking event.

Join our Annual Conference

• Friday 22nd November 2024
• To register, please visit Eventbrite

Our event is an excellent opportunity for practitioners with private practices and those considering this path to connect, share experiences, and explore collaborative opportunities. By leveraging our support and a strong networking community you are guaranteed to thrive even in the current economic climate, which fills all our associates with both professional fulfilment and business success.