Building a Better Group Therapy Practice Business Model with Lisa Savage

Heard Business School

Inconsistencies in service, financial instability, management difficulties, and burnout are all issues that can affect a group therapy practice.

But what if the practice was built with not only the therapist in mind but also a mission to meet an unmet need in the community?

That’s exactly why Lisa Savage started her group practice almost 20 years ago, now the country's largest Black-owned therapy practice.

Lisa, a Licensed Clinical Social Worker, is the founder of the Center for Child Development in Delaware and the co-founder of Clinicians of Color, an online community with more than 20,000 members.

She speaks with host Michael Fulwiler about her journey, how she identified an unmet need in her community, and how she has built a therapist-first practice with high retention rates and incredible support for personal growth.

In the conversation, they discuss:

• The ins and outs of navigating insurance, especially the nuances of Medicaid, to ensure you get paid fairly and promptly.
• The importance of transitioning from contractors to employees to maintain control and protect your brand.
• Outsourcing bookkeeping and accounting can save your sanity and help your practice thrive.
• Real talk about the difficulties of managing rapid growth and diverse employee values.
• The secrets to forging strong referral relationships and connecting your passion for therapy with community needs.
• Valuable advice for new therapists on the benefits of starting in a group practice versus the risks of going solo.
• Insights into red flags in group practice contracts and how to make sure you’re entering a fair agreement.
• The powerful impact of advocacy work and how Clinicians of Color is making a difference for Black and Brown mental health professionals.

Connect with the guest:

• On Linkedin: https://www.linkedin.com/in/lisasavagelcsw/
• On TikTok: https://www.tiktok.com/@clinicians_of_color
• On Instagram: https://www.instagram.com/clinicians_of_colortm/
• Clinicians of Color website: https://www.cliniciansofcolor.org/
• The Center for Child Development website: https://thecenterforchilddevelopment.com/

Connect with Michael and Heard:

• Michael’s LinkedIn: https://www.linkedin.com/in/michaelfulwiler/
• Heard website: https://joinheard.com/
• Newsletter: https://www.joinheard.com/newsletter
• Book a free consult: https://www.joinheard.com/welcome-form

Jump into the conversation:

00:00 Host Michael Fulwiler introduces the Heard Business School podcast with special guest Lisa Savage

02:31 On opening her own private practice

05:12 Navigating challenges, Medicaid, and insurance complexities

11:23 Challenges as a black business owner

16:06 On past mistakes and what she could’ve done differently

20:37 Unexpected and surprising experiences upon starting the business

23:08 Keys to success when opening up your own business

28:49 Pros and cons of being self-employed vs. working at a group practice

34:01 Advice for those who wish to work at a group practice

37:00 On clinicians of color

41:06 Role of technology in building practice vs. paper billing

This episode is to be used for informational purposes only and does not constitute legal, business, or tax advice. Each person should consult their own attorney, business advisor, or tax advisor with respect to matters referenced in this episode.