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5 ways to make more money as a therapist

Whether you want to go full-time with your practice or boost your current income, here’s where to start.

It’s no secret that the demand for therapy has increased dramatically in recent years. According to the CDC, rates of mental health counseling among American adults aged 18 or older increased by 4 percent between 2019 and 2023 alone. As a therapist, then, the care you provide to your clients is more valuable than ever — and your compensation should reflect that.

“As far as business advice for therapists, I think the biggest hurdle is overcoming a certain mindset related to being a helping professional. Recognize that running a practice with a business mindset and being a helping professional are not mutually exclusive,” says therapist Stephanie Straub, who helms CNY Therapy Solutions in Syracuse, New York. “Because many [therapists] see this [profession] as something they're called to, they believe they should be content settling for low wages jobs in high burnout settings. [But] there’s nothing wrong with wanting to do work that feels good and get paid well for it.”

So how can you boost your income? Read on for five tips.

1. Keep overhead low.

Being mindful of business expenses can make a big difference, especially when you’re first starting out.  

“Start out small… try not to bite off more than you can chew,” Straub advises. “Start by subletting space in another therapist's office. Build your caseload and then move on to your own space.”  

Once you do snag a spot of your own, “you don't have to have all brand-new furniture in your office,” she adds. “A lot of my office was (and still is!) furnished with Craigslist or Facebook Marketplace finds.”

2. Price your services competitively.

Make sure the cost of your services aligns with fees charged by rival practices in your area. 

“A lot of people set their fees low to attract clients — again, I think this is related to the money mindset struggle — but I think it’s okay to set a fair wage,” Straub says. 

Start by researching and comparing current rates in your local market, and don’t be afraid to increase your pricing accordingly.

3. Choose a niche and learn how to market to it.

Specializing in a particular area of mental healthcare (like addiction or eating disorders, for example) can help you stand out from would-be competitors and draw in new clients — especially if you tailor your marketing strategy toward them. 

“Networking is good, but I found it most helpful to get in front of my ideal client base through public speaking and presentations within the community,” says Straub, who specializes in maternal/perinatal health. “That way I wasn't just a name and a phone number their primary care doctor gave them; they could get a sense for who I was and what I was about, and they connected with that.

4. Lean into content creation.

Feeling creative? Try “taking what you do in the therapy room” and dreaming up salable content for clients and non-clients alike, Straub suggests.

“For example, you could create a course or an e-book on reducing anxiety. You only have to create that one time, but you profit from it multiple times,” she says. “I know many therapists who have created an entire ‘brand’ for themselves and make a good living with that in addition to the work they do in the therapy room.”

5. Find support.

Whether you’re just striking out on your own or looking to grow an already established practice, don’t hesitate to seek advice from entrepreneurial colleagues and other professionals who’ve been in your shoes.

“What I found helpful was working with a business coach that specialized in helping therapists get up and going,” Straub says. “I also joined online communities so I knew I wasn't alone in my struggles, read books, and listened to podcasts on the topic.”

Make more money with Headway

As a Headway provider, you receive competitive rates and guaranteed biweekly payments from us. It’s what we do: Make it easier and more profitable for therapists and psychiatrists to accept insurance.

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