Once you have gained experience and wisdom in the field, you may be prepared to operate your own mental health practice. According to the American Psychological Association, the best course of action for someone interested in private practice is to first gain experience at an established agency. On the bright side, this is 12% above the 5-year survival rate for all private businesses.ĭespite the difficulty of maintaining a successful private practice, privately-owned mental health practices are popular and comprise 82 percent of all agencies, according to the Substance Abuse and Mental Health Services Administration.īeyond strong clinical skills, operating as a private practitioner requires extensive knowledge of finance, marketing, technology, and mental health law. Only 55% of Health Care and Social Assistance businesses survive their first five years, according to the Bureau of Labor Statistics. Starting a private mental health practice is a daunting task, and it is difficult to execute successfully.
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