As a business coach for therapists, I get a lot of questions about increasing fees. Questions like: "Can I increase my fees for current clients?", "How much should I increase my fees?", "Can I increase my fee for new clients, but not current ones?". Or, questions like "How much of an increase is too much?" and "How do I tell clients I am increasing my fees?".  And, of course, there's the question "What happens when old clients return and my fee has increased?".

We often seem to get stuck trying to do it the “right way”, but we have to weigh the clinical impact of a fee increase. Our duty as therapists is to hold our client's interests at heart. However, as private practice owners, we also need to weigh the impact of not having a sound financial foundation for our life and practice. Not just the impact on us personally, but clinically too. I've said this in the past but it applies to this topic too: self-care is client care and financial self-care is no different.

So, What Is MY Answer to These Questions?

My answer is that the right decision for you is rooted in data from your reality. Your fees should be set to support your financial well-being but founded in a reality that makes sense for you and your clients. This is not only your business but your life. The decisions you make about fees and fee increases should be based on your current situation. Because, in reality, there is no one right answer.

Also, what works for you today may be different than what works in a year. Just as data and the marketplace are constantly in flux, so can the answer to the fee increase question. If you decide not to raise your fees today, it doesn’t mean that you won’t increase them in the future. Or, if you do decide to increase them it doesn’t mean that your fee structure can’t be adjusted if needed.

Here are Some Questions to Ask Yourself

So, if you're considering raising your fees, or increasing them for current clients, consider asking yourself these questions before making any decisions. Asking yourself these questions can help to make sure that the decisions you are making are best for you, your practice, and your clients.

• What changes have happened in the marketplace or with your practice since you set your fees?

• How will raising my fees affect my current and prospective clients?

• What would happen to my practice if I decided not to raise my fees?

• What do I need financially in order to sustain my practice and myself?

• Why am I considering increasing my fees?

• What is the potential impact on my practice if I raise my rates?

• How will I communicate any fee increases to current and prospective clients?

These are just a few questions to consider when making your decision. Here's the bottom line: make sure your decision on increasing your fees is founded on data from your business, your life, and your clients. Your fee structure should be one that supports your financial well-being while also taking into account the impact an increase may have on your clients. The fees are there to serve both you and your clients, and ultimately to create a practice that will support you.

Now, I'm Not Here to Tell You How to Increase Your Fees.

Unfortunately, I'm not here to tell you how YOU should increase your fees. That is for you alone to decide. I am here to help you create a practice that supports you and your clients and to make sure that the decisions you make around fees are rooted in reality. I'm here to provide guidance, clarity, and support whenever you need it. My goal is to help you figure out the right answer for you, your life, and your practice.

Your practice is supposed to support you, not the other way around. It's the best way to combat burnout, find balance in your life, but also create a thriving and profitable private practice.  So, when it comes to fee increases, you're the one with the right answers. You and the data you've gathered.

If You Do Need Guidance on How to Increase Your Fees, I'm Here To Help.

Now, if you need further support in this process due to feeling conflicted, confused, or unsure of what the best choice is for you and your clients, I'm here to help. As a business coach for therapists, I offer individualized support and guidance for just this type of situation. Together, we can create a fee structure that works for you both financially and clinically.

Interested in Working with a Business Coach for Therapists in Sacramento, CA, and Nationwide?

Answering hard questions is a part of being a private practice owner, but that doesn't mean you have to do it all alone.  I'm here to help you make the right decisions for your business and life. Whether it's fee increases, marketing planning, or developing a business structure that works for you. At Balanced Private Practice, we provide business coaching to therapists who are looking to maximize their income, increase their impact, and find more balance in their lives.

We want to help you create a practice that supports the life you and your family deserve. Together, we can help you base your decisions on your reality, get crystal clear on your vision for the future, and create a business that meets your needs now and in the future. So, if you're interested, we can chat about how we can work together. If you're interested in beginning:

• Apply to Work with Me

• Learn More About Me and My Programs

• Let's Answer Those Hard Questions Together!

Other Business Programs Offered at Balanced Private Practice

You may also be interested in checking out our other business programs that are offered at Balanced Private Practice. We offer a variety of programs that will help you create the business and life you want. I provide a range of programs for therapists to help them in their practice, from marketing coaching and training to business planning and consulting. This way you can begin building your private practice on your terms or restructuring it to fit your reality. The programs I provide are: One on One Business Coaching,  Private Practice Mentorship, Private Practice Quick Start, and Fee Setting Success.  If you want to gain clarity and direction on building a thriving private practice, I'm here to help. Let's do the damn thing!

About the Author

Meet Audrey Schoen, LMFT, a dedicated business consultant, entrepreneur, and expert in supporting solo private practice owners. With firsthand experience as a successful private practice owner and a parent of twins, she understands the delicate balance between work, parenthood, and self-care. Audrey specializes in helping practitioners achieve sustainable incomes and navigate insurance complexities. If you're a private practice owner wondering whether to raise your fees, Audrey simplifies complex information into actionable steps, empowering you to confidently make informed decisions. Her invaluable guidance helps individuals build thriving and fulfilling practices aligned with their lives, ensuring success on your private practice journey.