• Ep. 232 Do I Need an Online Presence to Launch a Digital Program?
• Ep. 233 Will an online program work for my practice?

• Ep. 234 Which type of program is best for my private practice?

The Price is Right! How to Price Your Online Health Program

Hey. Hey. Welcome back.

Are you yearning for more freedom and flexibility in your private health practice? 

How can online health programs help you as a health provider achieve a better work-life balance? 

Does maintaining a thriving health practice while working fewer hours, like a two-day workweek get you excited? 

I too started with dreams of wanting to work fewer hours, but still having a scalable, profitable and fulfilling practice. Wanted more time with my family. I now work about 25 hours a week, 3.5 days/week and spend the rest of my time with my family. My little kids are 3, 5 and 8.

I started off as a Registered Dietitian. Owned a private practice that I grew to multiple six figures! Ended up going into corporate wellness. Put over 5,000 people in my clinical program. 

And for the last 10+ years, I have been mastering this digital online program space for licensed health professionals. Including the digital marketing and sales that goes along with online programming in the health industry. And, I LOVE what I do.

I ❤️ helping health providers :

👉 Health Private Practice Owners
👉 Experienced Dieticians
👉 Psychotherapists
👉 Social workers
👉 Psychologists
👉 Nurse practitioner
👉 Physical Therapists
👉 Occupational Therapists
👉 Speech-Language Pathologist

Okay, now that we have established my love for you beautiful humans, are you ready to jump in and uncover how online programs can provide you more freedom and flexibility, to work less, all the while scaling your health practice? Sounds good?

Money Mindset Blocks for Growing Your Private Health Practices

Ready to break free from any limiting beliefs that making money is incompatible with helping others?

Before we chat about the nitty-gritty of how to price your online health program(s), let’s address the elephant in the room: your mindset with money. 

Whether you’re running a million-dollar practice or just getting started, we all have money blocks that may be holding us back from reaching our professional financial goals.

Even the most successful health professionals can struggle with subconscious money blocks. Our upbringing and societal expectations can contribute to limiting beliefs around money. It’s important to identify these blocks and work on overcoming them. 

We need to challenge negative beliefs. Set realistic financial goals. And, seek support from mentors or coaches.  I do my own money mindset work every day. And, to help me through my own blocks, I work with Kelly Roach. A CEO coach and consultant for 6 and 7-figure online coaches, consultants and experts ready to leverage the power of systems, processes and people. She’s pretty incredible. Check out her podcast, Kelly Roach Show and find out for yourself. 

Money blocks can affect health professionals at various stages, regardless of their practice’s financial success. The freedom to determine our private health practice income potential is a blessing. It’s essential to address any limiting beliefs we have around money to unlock our full earning potential and enjoy the journey to our version of success. 

Thankfully, there are lots of beautiful people out there helping us get through our money mindset blocks, like Allison Puyear, who joined me on my podcast to disclose Abundance Practice Building or gain wisdom and insight from Denise Duffield-Thomas, a money mindset mentor.

Take advantage of  money mindset audiobooks or books around the ‘Law of Attraction’. Buy digital courses. Do whatever works for you, to learn, shift and progress through any of your money mindset blocks.  I personally work on it daily, because I want to help so many people. 

Pricing Strategies for Launching Your Digital Health Program  

Shall we talk about strategies to help you navigate the world of pricing. To charge what you’re worth in the online health industry? Sounds good?

I think a lot of health providers start businesses without the math in mind, without understanding profitability. Having a profitable health practice can empower you to have a greater reach and make a lasting difference in the lives of many more clients.

Even if you’re already making a comfortable income, you may want to work less. Have more freedom and time to do more of what you love doing beyond your health practice. Online health programs can help align your desired income with your desired time commitment. Who doesn’t want to work less and have money still flowing in? Yes, passive income is really possible in healthcare practices.

Money should not be secondary to making an impact. I mean, you can want and desire to have a big impact on the world and help as many people as you can. But, if you don’t make money, it’s a volunteer job.

As health professionals, many of us were raised with the expectation of traditional employment and job security. However, the digital age allows us to create our own job and potentially make more money than ever before. We get to build out our business and ourselves as assets.

Pricing Online Program Models

Let’s take a moment to learn about different pricing strategies for various program types. The model you choose will depend on how much money you want to make and the amount of time you’re willing to invest in your business.  

At this moment, I would say ‘self-study’ programs are going to be lowest on the totem pole. So we’re going to charge the least for a self-study. 

👉 No email support

👉 No Facebook group

👉 It’s just like a book on the Internet

👉 It’s just a course

Now, ‘group programs’ sell at a higher price point than self-studies, since they provide some kind of support: 

👉 Email support

👉 Facebook group or a forum

👉 Voxer support (an option)

👉 Tech support (an option)

👉 Live coaching calls

👉 Q&As

Then we get to ‘hybrid’ style programs. These programs come at the highest ticket price since it includes more of your time.

👉 one-to-ones

Beyond the online model you choose to run your program, we need to consider things like: length or duration of your program and your reputation. A six month program will typically cost more than a six week program. If you are a younger brand, you will usually charge less than a brand with an established reputation. Makes sense?

I find when I work with people, the first year is building a first version of the digital program. Running it. Feedback. Re-recording or recording it for the first time (if it was done live). Run the second version. And, then build the sales process around it. Once the system is built, then we can add different courses, different tiers and different funnels for scaling and profitability.

Now, when it comes to charging, I’m not going to say you can charge whatever you want. I mean, sure you can, but I’m also pretty practical. And, I want you to be successful. That means that there’s going to be certain price points that are going to work really well and certain price points that might be out of reach. 

But, I will say, pricing your online health program requires confidence and conviction. It’s essential to set a price that feels good to you and reflects the value you provide. Now, if stretching yourself too far or undercharging for your online program, you won’t sell a darn thing, okay? 

TLP: Your Digital Marketing and Pricing Strategist

Okay, more talk about strategies for pricing your online health programs. And, practical insight around finding the sweet spot between a price that feels comfortable for you and one that resonates with your target audience. By finding the right balance, you can maximize both your income and the value you provide your clients.

Things to consider: 

👉 Do you want to be the cheapest? 

If you’re going to be the cheapest, you have to make sure that that model is profitable. 

👉 Do you want to be the most expensive? 

If you’re going to be the most expensive, you have to make sure that you have the value and the brand strength to get you there.

👉 Do you want to be somewhere in between? 

If you’re going to be anywhere in between, you still need to make sure that it all aligns.

Consider market rates, your competition, and the value you provide. Finding the right balance between profitability and affordability will help you generate sales and grow your business. It is really helpful for you to have a strategy in place when trying to price and launch an online program.

And, that’s why we exist here at The Leveraged Practice. We provide you invaluable insights and comprehensive guidance on building, marketing and pricing your online health programs. 

After working with hundreds of clients, coaching thousands through the podcast, through events and courses, our Health Funnel Bootcamp and our TLP Tech software, we have what it takes to be your digital program marketing and pricing strategist.

It’s time to level up your health practice with digital programs. Join the digital age, the world of online health courses, shift money mindset blocks, set prices that reflect your true worth and expertise. Work less, make more, while extending your reach and impact.

Thank you for reading and being a part of this journey. Stay tuned for more valuable content. 

Until next time.

Sending you much love, joy and happiness,

Stephanie ❤️