As SLPs, we are in the business of helping people. Sometimes we think that helping people means giving them discounted speech therapy. You can still help people AND charge fair prices, earn a living, and growth your wealth while providing a valuable service to your community. If you receive your full, thoughtfully determined rate, and reach YOUR personal income goals, think about what you can do with that money.
Offering speech therapy discounts, should you?
Do you want to grow your business?
Charging your full rate will allow you to rent a more ideal office space, higher more staff, offer more benefits to your staff. Upgrade your materials, software systems
Is your focus growing personal wealth?
Charging your full rate will allow you to pay off your loans, travel, live the lifestyle you choose.
Is your focus helping others?
Charging your full rate allows you to provide pro bono services, donate to your favorite charities, offer free workshops/presentations in your community
Do you want more time in your day?
Charging your full rate means you can see fewer clients, allowing more time for treatment prep, professional growth, family time
Before you ever discount a service, ask yourself, did you overprice yourself? Isn’t this the price that you decided you needed to reach your goals? If you discount your prices, then it will take more clients, more hours worked, more time to reach your money goals.
Alternatives to Discounting Speech Therapy Services
–> Offer more scheduling options- If you shorten your sessions, you can charge less and have room in your schedule to see more patients.
–> Caregiver training / home program focus – Involve parents with a more intensive practice program to help clients reach their goals faster with fewer treatment sessions ==> Less cost, less therapy time, great results!
–> Lower your rates across the board. Maybe the rates you set really are too high. Lowering them across the board may make your services more accessible. If your rates aren’t too high, then DON’T discount them!
Be confident in your pricing.
If you know WHY you set your price, it will be easier to state it with confidence. It’s not just “the going rate”. There’s a logical reason for your rate. If you feel the need to explain your rate, explain the value and expertise you provide. Consider…
–> Does your Business model reflect the price you set?
–> Do you present yourself more as a tutoring (less expertise) or a medical service (more expertise)?
–> Does your website, office space, marketing materials, emails, project the quality you are providing and the pricing you charge?
–> Do you need to expand your expertise, so that you feel confident charging the prices you need to?
–> What areas / certifications could expand your expertise and bring in more clients at higher prices?
tip: PRACTICE verbalizing your pricing aloud. Play with the wording until you feel comfortable, and express that your therapy services are worth every penny. If you sound confident in your pricing, then clients will be more willing to believe that your services are worth the pricing you set.