How to replace practice revenue lost due to social distancing (and make sure you never end up in this position again)

It’s no secret that a lot of psychologists in private practice are losing significant chunks of revenue due to social distancing.

Some have clients who don’t want to covert to telehealth

Others have clients who don’t want to pay out of pocket during uncertain economic times.

And still others have lost contracts or sources of referrals from businesses who are either shut down or not operating in the same way as before.

Meanwhile, there are a small group of therapists who are using this period in history to replace lost revenue with a new business model that is proving to be recession-proof and pandemic-proof.

And they’re having bigger revenue months than ever, because people are at home, face to face with their issues, and their buying behavior is almost 100% online.

They're launching online group programs that allow them to help more people, make more money, while working fewer hours.

Online group programs are not new. Over the last decade the online group program model has been soaring. Pioneered primary by life coaches, these programs usually comprise some form of psychoeducational content delivered by video lessons, private online group communities on platforms such as Facebook, and regular live coaching calls on platforms like Zoom. They are low-tech, and their fixed costs are very low.

The group structure, with prerecorded psychoeducational content, means that therapists working hours are cut in half while the limitations of trading time for money are removed completely. Depending on how many people they want to support at once, they have the option of bringing in several times their current practice revenue in a fraction of the time it would take to serve all their clients one-on-one.

By operating entirely online, and focusing on solving one particular problem for one particular niche, therapists running online group programs have the opportunity to help people from all over the world.

They have the option to build a platform that positions them as a leading expert in their niche, opening up media opportunities, speaking opportunities, publishing opportunities and business opportunities that come with that.

They are able to make a much bigger impact in their area of specialty, and they are able to help several times more people than they otherwise could - while being paid what they deserve for doing so - and without running themselves ragged in the process.

So when considering how to replace revenue lost during this time of social distancing, and how to better prepare for a future where many more services are provided digitally, it behooves therapists to take a closer look at the online group program model that is becoming a multi-billion dollar marketplace in the US alone.

Robin Thompson is a digital marketer who helped to generate over $15,000,000 in revenue for online group programs in the last five years. He is the founder of Leveraged Group Programs, Inc, and he helps psychologists make a bigger impact and more money in less time by launching online group programs that take the limits of their practices. You can find out more about him at www.leveragedgroupprograms.com