The purpose of this text is to provide an overview of basic business principles and how they can be used to enhance the stability and fiscal responsibility of neuropsychological practice. The principles discussed are presented in a fashion that will include an overview of concepts as well as a practical approach to promote application of the information. It is designed to benefit professionals at varying levels of practice regardless of their work setting, but focuses primarily on the issues related to neuropsychological practice. Graduate school catalogs and training program brochures reveal a broad array of educational opportunities designed to prepare future professionals for independent practice in neuropsychology. However, little is offered to prepare neuropsychologists for the business realities that await them in the workplace. The expectation that they will simply see patients and do quality clinical work is often in conflict with institutional goals of making money so that the doors can remain open. The result can be a cataclysmic "crash" when altruistic ideals meet capitalistic needs.
The concepts of "cash is king" and "no margin, no mission" are foreign to most neuropsychologists until our own fiscal bottom line is affected. The Business of Neuropsychology also contains an overview of business "basics," such as budget and fiscal tracking abilities, strategies for communicating with stakeholders in the business, front and back office flow and processes, billing, coding, marketing, referral relationship development, and staff growth and development. Guidance on balancing the needs of training programs with the fiscal responsibilities of departments is also provided. The Business of Neuropsychology is part of the Oxford AACN Workshop series.
Clinical Neuropsychologist, Baylor Institute for Rehabilitation, Outpatient Services