Setting Your fees: facts or feelings?
When I set out for private practice, I had been thinking about fees for a hot minute. I’d been in agencies and a group practice where I saw my fees shift from the “intern-worthy” rates to a novice licensed clinician. All of which I did not have a final say in because it wasn’t my practice.
But once I was officially a private practice owner, the feeling of relief and empowerment that I had expected to feel didn’t come. I was anxious and confused and was looking to the therapists around me to tell me what my “right” fee should be. I was finally calling the shots yet I was still allowing others a say. I couldn’t charge more than someone more seasoned than me! I couldn’t fathom charging the fee that would give me financial comfort without feeling guilty. I had a lot of money blocks to uncover that had been holding me back for years.
Even though I had “decided” that my fee would be $150, every time I got a consultation, I would automatically offer to slide the fee if there was any hesitation on the other end of the phone. My anxiety had simply replaced my boss and was calling the shots instead of me. On top of that, I hadn’t fully examined my finances or expenses so that definitely didn’t inform my decision. My fee wasn’t based on the facts of my financial situation because I couldn’t bear the anxiety and shame that came up for me every time I attempted to look at the numbers and budget. So in order to feel more comfortable, I winged it!
Eventually, I worked through a lot of money blocks with money mindset courses and coaching. One additional thing that was helpful was recognizing that my fee was comprised of SO much more than just the 1-1 session time with a client.
For those raising fees and/or managing anxiety, guilt, fear, or worth issues with fees...remember that your fee is not JUST for your 1-1 session time.
When I finally tracked the amount of time I spent on notes, peer consultation, reading clinical books, researching interventions, travel/commute (right now with COVID to and from the fridge hehe), meditating & stretching & crying in between difficult cases😜, supervision, and even just mental energy in prepping for sessions...IT ADDS UP.
Remember clients are investing in their mental health for YOUR services and you are investing a lot of time and energy to show up fully for them. The factors of your fee are far bigger than that one hour time slot. It’s important to recognize your true time investment when you are setting your fee. If you are still having heart palpitations at raising or setting your fee, check out my “3 Tips To Manage Money Anxiety”.