Jan 24, 2024 Ethics Fees & Marketing
Please see example attached.
PSYN 665 | Dr. Bava Your Name:
Creating a Professional Budget
Create your budget, by completing the 3 steps: Expense, Income & Net Income.
STEP 1: EXPENSES per month
Use the source column to do you research to estimate the expense per line item. All annual items (in
Blue*) will be divided by 12 to calculate the monthly cost.
Item
Monthly Cost
Source (to research the cost)
Rent
$200-400/one day of the week for the month; Or Hourly Rates: $20-30/hours. Rent varies by location. You might want to fill this after step 2. See ads:
https://psychoffice.net/browse/NY
Teletherapy Platform
See:
https://www.therapysites.com/tele-counseling/ is 50/mth
Some sites include Electronic Medical Records (EMR etc) e.g. all in one:
https://www.theraplatform.com/Pricing for $29/mth
Phone
Marketing (Ads, website, Business cards)
· Directory listing in Psychology Today: $30/mth
· Therapy Sites:
https://therapysites.com/pricing (Visit to calculate the cost of hosting a website)
· Business Cards: Enter based on your research
Office supplies (water, coffee)
$20
Networking
Taking people for lunch, attending networking events
Supervision
$100/hr Multiple by 4 weeks and enter the amount to your left
Licensure*
$98/year
Liability Insurance*
210/year (Varies based on no. of clients/week). See
www.cphins.com for details.
Professional Membership*
AAMFT Membership Dues:
https://www.aamft.org/membership/membership_faqs.aspx (select Clinical Fellow dues to calculate your annual dues & divide by 12 to calculate the monthly amount)
Annual Training (CEUs)*
$500-1000/year (Select an amount from with this range & divide by 12 to enter the amount on your left)
TOTAL EXPENSES PER MONTH (X)
STEP 2: INCOME PER
MONTH
To calculate your income complete this formula by deciding the following:
1. How many clients will you see per day = A =
2. What will you set your fees at = B = $/hour =
3. How many days per week will you work = C =
4.
Income
Formula:
A*B*C*4(weeks) = Estimated income (Y) =
· Example: if I see 6 clients per day (A) at the rate of $130/hour (B) & plan to work for 3 days (C) then my
income for the month will be: 6*130* 3*4=$9360
· This would imply that I would have to rent an office for 3 days. So if my office costs $250/day, for 3 days it will cost $250*3= $750 (this will be the figure I will include on the Rent line above.)
·
(Remove the above example & add your calculations here)
STEP 3: Calculate your MONTHLY NET INCOME=>INCOME (Y) – TOTAL EXPENSES (X) =
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