As a therapist in private practice, it’s crucial to provide clients with a clear understanding of the financial aspect of their care. A Good Faith Estimate (GFE) is required for private-pay clients and clients choosing not to use their insurance for therapy services. If you are looking for a free attorney-approved Good Faith Estimate for therapists in private practice, click here.
In this blog, we will discuss the good faith estimate requirements and explain what needs to be included in the good faith estimate form for therapists in private practice. The GFE outlines expected costs for services, offering transparency and helping clients make informed decisions. You can explain a GFE by stating it is a required document that gives clients an upfront projection of the costs they might incur throughout therapy, based on their individual needs.
Let the client know that this is a projection and that the client may need more and less therapy based on their goals and needs through the therapeutic process. If further therapy services are needed then another GFE would be completed and given to the client. This estimate helps clients budget for therapy and avoids unexpected expenses, ensuring they feel financially secure from the outset.
What is Considered GFE?
A Good Faith Estimate in therapy is considered an accurate representation of the services a therapist will provide and the associated costs. It’s a document required by the No Surprises Act, which aims to protect consumers from unanticipated costs. For therapists, this means that GFEs are for clients who are uninsured or those opting to self-pay for services.
As private practice therapists, we created a good faith estimate form for therapists in private practice that covers client and therapist identifying information, the scope of services, expected duration of treatment, session costs, and any additional charges such as late cancellation fees. Each GFE also needs to include a disclaimer and steps on how to file a dispute should one arise. This transparency reassures clients that they are entering into therapy with a full understanding of the financial obligations ahead.
What Are the Benefits of Offering a GFE to Clients?
Providing a Good Faith Estimate fosters trust and transparency with your clients. It allows them to plan their finances, which can alleviate anxiety about the costs of therapy. Additionally, it protects you as a therapist from misunderstandings about fees later on. When clients have a clear breakdown of expected costs, they are more likely to remain engaged in therapy without financial surprises derailing their progress.
Moreover, offering a good faith estimate form enhances your professionalism and keeps your practice compliant with the regulations of the No Surprises Act. It also gives clients the confidence that you are running a transparent and ethical practice.
How to Ensure Your GFE is Effective?
Be Clear and Detailed: Avoid jargon and use straightforward language when describing services and costs. Clients appreciate simplicity when reviewing financial documents.
Update Regularly: If there are changes in the frequency or type of services provided, be sure to issue an updated GFE to reflect those changes.
Provide It Early: The earlier in the process a client receives their Good Faith Estimate, the better they can plan and make informed decisions about their care.
What is a GFE Form?
Creating a GFE Form for your private practice is a straightforward process when you have a reliable good faith estimate template. Here are the basic steps to ensure compliance and transparency. It is recommended if you want to create one on your own you have a healthcare law attorney review it.
Gather Client Information: Start by including the client’s name and contact details on the form.
Outline Services: Describe the services you will be providing. If you offer individual, group, or family therapy, each service should be listed with its corresponding fee.
Estimate the Frequency: Include how often the client will attend sessions. Will it be weekly or bi-weekly?
Project Duration: Estimate how long treatment might last. For example, a common projection for weekly therapy might be six months or a year, depending on the client’s needs.
Calculate the Total Cost: Multiply the session fee by the number of sessions the client is expected to attend during the estimated treatment period. This gives a good overview of the expected total cost.
Provide Disclaimers: Let clients know that the estimate is not a binding contract but rather an approximation. Make it clear that if circumstances change, the costs might also change.
A good faith estimate template simplifies this process, ensuring you stay compliant with legal standards and provide clarity to your clients. You can access a FREE good faith estimate template for therapists. It also comes with the required good faith estimate website notice, script on what to say to clients, and podcast interviewing a healthcare law attorney on GFE for therapists.
What is an Example of a Good Faith Estimate in Healthcare?
A GFE form example regarding the section on cost breakdown, in therapy, will include the cost per session, any recurring charges, and additional fees for services like assessments or written reports.
Let’s say a psychologist charges $350 for an initial intake session that is 90 minutes and then charges $150 per 50-minute session and a client is expected to attend weekly sessions for six months. On the GFE form, the therapist would then show the total cost breakdown as such:
Initial Intake Evaluation - $350/90 minutes
Weekly Individual Therapy Sessions - $150/50 minutes
Treatment Length = 6 months/26 Weeks
Total = $4250
The GFE calculates the total estimated cost over that period. The purpose is to ensure that clients are well informed about the financial commitment required for their treatment.
When providing a digital or free printable good faith estimate form, it’s essential to customize it based on your practice. Each GFE should detail the nature of the services offered, so clients understand the financial expectations and are not blindsided by hidden fees.
Looking for MORE Attorney-Approved Private Practice Forms?
Check out the 20+ forms you need for your private practice. Grab the Attorney-Approved Private Practice Paperwork Bundle for Therapists in Private Practice today which includes the Good Faith Estimate template bundle! At Private Practice Startup, we want to ensure your practice is fully equipped with compliant, professional forms.
Ready to Simplify Your Practice with a Good Faith Estimate Template and Private Practice Paperwork Bundle?
If you're searching for an Attorney-Approved Good Faith Estimate Template for your private practice, look no further! The Private Practice Startup offers a comprehensive solution that not only helps you comply with legal requirements but also builds trust with clients by providing clear, upfront information about therapy costs. And that's not all—we also offer a bundle of essential private practice paperwork to further streamline your operations. Here’s how to get started:
Ask Any Questions – Got inquiries or need clarification? Reach out to us at Kate@ThePrivatePracticeStartup.com, and we'll be happy to help explain how the Good Faith Estimate template or paperwork bundle can benefit your practice.
Grab Your Free Template or Bundle – Download the Attorney-Approved Good Faith Estimate Template or upgrade to our Private Practice Paperwork Bundle for therapists. Customize the forms to suit your practice needs.
Start Using It Today – After downloading, simply fill in your practice details and start providing clear, compliant estimates to your clients. With the paperwork bundle, you’ll have access to all the essential forms to run a smooth, professional, and compliant practice.
Additional Resources from The Private Practice Startup
At The Private Practice Startup, we’re committed to offering the tools and support you need to ensure your private practice flourishes. Along with our essential private practice paperwork, we provide supervision forms tailored for mental health professionals, a comprehensive Private Practice Marketing E-Course to help you grow your client base, and personalized coaching sessions with Kim Grocher, PhD, LCSW, to help you reach your professional milestones. Don’t forget to check out our Private Practice Startup Podcast, featuring interviews with leading industry experts, successful therapists, and entrepreneurs to inspire and guide you at every stage of your journey. Whether you’re in Texas, California, New York, Florida, or anywhere else in the U.S., we’re here to support your success.