Private practice side hustle

[megamaramon]

---

Members do not see this ad.

Hello all, asking for some feedback.

I'm currently a clinical attending associate professor at an academic medical center. I practice pediatric neuropsychology in outpatient clinic and hospital settings. With recent...concerns about public/government perception of those of us in medical/behavioral health fields, I decided to start a private practice on the side to make some extra cash and have an escape route if needed.

My model is self-pay, flat rate for comprehensive evals for children. I'm also set up with the state to do some SSI evals for kiddos, which seems pretty straightforward. I'm only booking 2 comprehensive evals a month max. SSI evals will fill in random gaps here and there. The self-pay rate is $3000, which includes a 90 minute diagnostic interview, a comprehensive intelligence test, targeted academics, memory testing, executive function assessment, adaptive behavior (as needed), visual-motor, fine motor, whatever else needs tested, plus an hour interactive feedback. The full eval takes ~9 hours with report writing time. Since I used to practice school psychology in the area, I also give a lot of support and coaching to families regarding how special education and 504 accommodations work. I am doing this through a group practice, with a 70/30 split.

I live in a MCOL in a LCOL state; think lots of transplants to the area to work for a massive, national company. People seem very interested in having their children tested, but they are extremely hesitant at self-pay. Some are flat out rude when they call and talk to the administrative support. My day job takes Medicaid and every other insurance under the sun, and we have a 16-18 month waitlist. The private practice work I do currently has no waitlist and can work patients in within a month.

Given that I have a 50+ hour a week salaried job, am I crazy for wanting my side hustle to be self-pay at this time? Am I charging too much?

 

[Sanman]

Hello all, asking for some feedback.

I'm currently a clinical attending associate professor at an academic medical center. I practice pediatric neuropsychology in outpatient clinic and hospital settings. With recent...concerns about public/government perception of those of us in medical/behavioral health fields, I decided to start a private practice on the side to make some extra cash and have an escape route if needed.

My model is self-pay, flat rate for comprehensive evals for children. I'm also set up with the state to do some SSI evals for kiddos, which seems pretty straightforward. I'm only booking 2 comprehensive evals a month max. SSI evals will fill in random gaps here and there. The self-pay rate is $3000, which includes a 90 minute diagnostic interview, a comprehensive intelligence test, targeted academics, memory testing, executive function assessment, adaptive behavior (as needed), visual-motor, fine motor, whatever else needs tested, plus an hour interactive feedback. The full eval takes ~9 hours with report writing time. Since I used to practice school psychology in the area, I also give a lot of support and coaching to families regarding how special education and 504 accommodations work. I am doing this through a group practice, with a 70/30 split.

I live in a MCOL in a LCOL state; think lots of transplants to the area to work for a massive, national company. People seem very interested in having their children tested, but they are extremely hesitant at self-pay. Some are flat out rude when they call and talk to the administrative support. My day job takes Medicaid and every other insurance under the sun, and we have a 16-18 month waitlist. The private practice work I do currently has no waitlist and can work patients in within a month.

Given that I have a 50+ hour a week salaried job, am I crazy for wanting my side hustle to be self-pay at this time? Am I charging too much?

Are you crazy for wanting self-pay clientele? No, most of us want that. Are you charging too much? Depends, are you as busy as you want to be? Then, yes. If not, then no.

Now, if we want to talk about how guilty you feel, I can send you my session rates and some intake paperwork.

 

[smalltownpsych]

I spend time helping my staff how to explain the fee situation without feeling the need to apologize for our trying to make a living. Just because people don’t like that is not our problem. It’s very much the same as when I help my patients learn to communicate effective boundaries.

 

[jdawg2017]

I don’t think it’s crazy to have a side-hustle in today’s economy, but my bigger concern coming from the AMC environment is if there’s a non-compete clause in your contract and how transparent the side-gig is to your main employer. It’s my understanding that non-compete clauses are becoming more common at AMCs (I and at least 6 junior colleagues I know at different AMCs have them…).

 

[MCParent]

Just because people don’t like that is not our problem.

I remember when I was doing a lot of assessments, getting on email that was something like: “hey I need this assessment and I need you to do it. I live in Atlanta so you’d need to come out here. And I don’t have the money for the fee so you’d need to do it for free.”

When I taught students about PP, they almost all had the idea that they needed to ask their clients what they wanted and then they have to do that, like Ford asking people what they want and getting the answer “faster horses.” If you ask clients what they want, they want therapy whenever they want, however long they want, for free.

You’re only charging too much if no one is paying it.

 

[Sanman]

I remember when I was doing a lot of assessments, getting on email that was something like: “hey I need this assessment and I need you to do it. I live in Atlanta so you’d need to come out here. And I don’t have the money for the fee so you’d need to do it for free.”

When I taught students about PP, they almost all had the idea that they needed to ask their clients what they wanted and then they have to do that, like Ford asking people what they want and getting the answer “faster horses.” If you ask clients what they want, they want therapy whenever they want, however long they want, for free.

You’re only charging too much if no one is paying it.

Ah, the VA model. Works so well...

 

[megamaramon]

I don’t think it’s crazy to have a side-hustle in today’s economy, but my bigger concern coming from the AMC environment is if there’s a non-compete clause in your contract and how transparent the side-gig is to your main employer. It’s my understanding that non-compete clauses are becoming more common at AMCs (I and at least 6 junior colleagues I know at different AMCs have them…).

Luckily mine allows it. Just had to have it pre-approved and make sure I don't refer anyone from the AMC to the private work.