Discuss your opinion(s) of the APA Ethical Principals of Psychologists and Code of Conduct and/or...

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Discuss your opinion(s) of the APA Ethical Principals of Psychologists and Code of Conduct and/or Stout readings (Ch. 1-4).Some questions to consider:What are some tips for financial management when first starting private practice? What does it mean to be “in-network” provider and what are some benefits and limitations of contracting with managed care? What are some ethical and legal aspects of private practice?

Sumita Mitra · Accepted Answer

1
Ethical Principals of Psychologists and Code of Conduct
Tips of financial management:
The first and the foremost requirement is a proper business plan and framework to start the private practice. Starting a private practice as a psychologist, social worker, counselor or other mental health professional is no easy task. The finances and the cash flow for the same needs to be assessed and understood as it is the key element to start the same. The start-up budget needs to be assessed to plan accordingly. Initially for some time one should have a balance of the finds to run his operational expenditures. Return on investment or revenues tend to come after a while of setting up of the private practice. Few major things about financial management, that one need to keep in mind while starting a private practice are the savings or the liquidity that one has, two to three months’ available funds for fulfilling the operational expenses needs, as one cannot depend on credit cards to start a private practice.

Discuss your opinion(s) of the APA Ethical Principals of Psychologists and Code of Conduct and/or Stout readings (Ch. 1-4).Some questions to consider: What are some tips for financial management when...

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