DR BobÂ Dick â€¢Â Â This is a slightly expanded version of my answer on that list serve for therapists .Â Â Â Â Â Â Â Â I want not to be a wet blanket , and I can support starting a full time private practice only if 1] Â you have a Strong niche in a market that would truly ! supply lots of referralsÂ ; &/or 2] anÂ extensive referral network from your career so farÂ ;Â Â &/or 3]Â Â Â Â you’re willing and able to be on insurance panels & work for very limited fees , &/or 4] you’re willing & Able to manage the huge administrivia of business & development [ or hire it done well ] . The current economic climate doesn’t seem to me likely to favor new providers of luxury goods , however competent one might be .
I helpedÂ develop a private Group practice ,Â & weÂ did very well for 40-some years .Â At age 68 , I wanted to slow down and work only 3 days a weekÂ , havingÂ already dropped-off all insurance panels for aboutÂ 5 years . Â IÂ learned theÂ practice had evolved into a corporate form withÂ no exceptions orÂ flexibility in the structure of Overhead percentage for old part-timersÂ .Â I’dÂ left the Board of DirectorsÂ Â many years beforeÂ because I don’t like & am not good at administriviaÂ , nor at herding cats .
Not being in the loop ,Â I lost awareness ofÂ , & influence/ a voteÂ on companyÂ policies .Â Â The mostlyÂ early- to middle-career clinicians on the Board naturally gave little or no thought to everyones’Â eventual progress through simi-retirement to retirementÂ .Â I hope the Board is nowÂ processingaÂ moreÂ comfortable,Â progressive overhead-reduction for retirement sequence , especially for one other old fart who’s beenÂ a crucialÂ organizing & managing force for that practice for many years .
IÂ transitioned into a solo/ shared expenses practice w/ 3 goodÂ friendsÂ Â who’d left that practice years agoÂ . Â It’s worked out even better than I expected ,Â at least partlyÂ because I meet conditions 1 , 2 &Â 4 above .
I wish you clear thinking & success !Â Â Â DrBobDick.com