Your Group Practice

Ep47: Wendy McSparren on scaling a group practice with systems

Behavioral health operations software is becoming essential for group practice owners who want to grow without letting referrals, billing, follow-up, and client communication fall through the cracks. In this episode of Your Group Practice, Dan King speaks with Wendy McSparren, founder of WPA Therapy and Admira, about what happens when a therapy practice outgrows notebooks, spreadsheets, duct-taped systems, and EHR workflows that were never designed to manage the full client journey. Wendy shares how launching WPA Therapy during the pandemic exposed the operational complexity behind group practice growth. With demand for care rising quickly, she and her husband, John began building Admira, a system designed specifically for behavioral health practices. In this conversation, Dan and Wendy explore: • Why EHRs often fall short before and after clinical care  • How referral workflows can become both a care issue and a business bottleneck  • Why clinicians can use systems thinking as a leadership advantage  • How AI receptionists may support access without replacing human care  • Why scaling a practice requires getting key processes out of the owner’s head This episode is a practical and thoughtful look at what it takes to build a more organized, humane, and scalable group practice. Transform Your Group Practice Actionable insights for practice owners and clinicians who want to lead, grow, or exit with purpose. This is the podcast shaping a stronger mental health system — one practice at a time. * Subscribe and listen to more episodes: https://yourgrouppractice.com/ * Want to be a guest? Reach out: info@yourgrouppractice.com About the Host Dan King is a lawyer turned private equity founder with a passion for fixing burnout in mental health. With a background in M&A, Shark Tank deals, and psychology, he now leads Fireside Strategic — investing in group practices that put people first. * LinkedIn: linkedin.com/in/danmking * Website: firesidestrategic.com

Ep46 – Julie Herres on profitable therapy practice finances

Profitable therapy practice finances are essential for building a sustainable group practice that supports owners, clinicians, and clients over the long term. In this episode of Your Group Practice, Dan King speaks with Julie Herres, founder of Green Oak Accounting, about the financial realities many therapy practice owners avoid until the numbers become impossible to ignore. Julie brings more than a decade of experience working with therapy practices across the United States and shares practical insights on profitability, compensation, boundaries, benefits, and financial transparency. In this episode, you’ll learn: • Why every therapy practice deserves to be profitable  • How clinical payroll can impact long-term sustainability  • Why Julie recommends keeping clinical payroll between 45% and 60% of income  • The pros and cons of percentage splits, flat fee models, and salaries  • Why benefits should be added with intention, not pressure  • How financial clarity helps practice owners make better leadership decisions This conversation is especially valuable for group practice owners who want to care well for clinicians without compromising the health of the business. Transform Your Group Practice Actionable insights for practice owners and clinicians who want to lead, grow, or exit with purpose. This is the podcast shaping a stronger mental health system — one practice at a time. * Subscribe and listen to more episodes: https://yourgrouppractice.com/ * Want to be a guest? Reach out: info@yourgrouppractice.com About the Host Dan King is a lawyer turned private equity founder with a passion for fixing burnout in mental health. With a background in M&A, Shark Tank deals, and psychology, he now leads Fireside Strategic — investing in group practices that put people first. * LinkedIn: linkedin.com/in/danmking * Website: firesidestrategic.com

Ep45 – Dan King on group practice partnerships over selling

Group practice partnerships may be the most overlooked strategy for scaling and exiting a mental health business. In this solo episode of Your Group Practice, Dan King challenges one of the most common assumptions in the industry: that the end goal is to sell your practice. Instead, he presents a compelling alternative, bringing on a strategic “number two” to unlock the next version of your business. Drawing from patterns he sees across practice owners, Dan explains why so many practices plateau between $2M–$4M in revenue and struggle to become truly sellable assets. Even profitable practices often lack the structure, leadership depth, and growth trajectory that buyers are looking for. Rather than rushing to sell or feeling stuck, Dan outlines a different path forward: • Why most practices hit a growth ceiling without a partner  • How to identify your biggest bottleneck as an owner  • What makes a great “number two” and why skills matter more than capital  • How a “try before you buy” approach reduces partnership risk  • Why clinician + operator partnerships are the future of group practice This episode is both a mindset shift and a practical roadmap for practice owners who want to build something bigger, more valuable, and more sustainable without sacrificing autonomy or culture. If you’re feeling stuck, considering a sale, or thinking about your next stage of growth, this conversation offers a new way to think about what’s possible. Transform Your Group Practice Actionable insights for practice owners and clinicians who want to lead, grow, or exit with purpose. This is the podcast shaping a stronger mental health system — one practice at a time. * Subscribe and listen to more episodes: https://yourgrouppractice.com/ * Want to be a guest? Reach out: info@yourgrouppractice.com About the Host Dan King is a lawyer turned private equity founder with a passion for fixing burnout in mental health. With a background in M&A, Shark Tank deals, and psychology, he now leads Fireside Strategic — investing in group practices that put people first. * LinkedIn: linkedin.com/in/danmking * Website: firesidestrategic.com

Ep44: Dan King on debt in group practice M&A

Debt in group practice M&A is one of the most misunderstood and emotionally charged topics in the mental health business. In this solo episode of Your Group Practice, Dan King breaks down the role debt plays when selling some or all of your practice. Drawing on real-world experience from both the buyer and seller side, he demystifies how debt actually works and why avoiding it isn’t always the smartest move. Dan explores why debt is almost always part of the equation in modern transactions, especially when working with financial buyers. He challenges the stigma around debt, reframing it not as inherently good or bad, but as a tool that can amplify both positive and negative outcomes. In this episode, you’ll learn: *  Why debt is considered the “cheapest capital” in M&A  *  The difference between external financing and seller financing  *  How recapitalization deals work when you don’t fully exit  *  The emotional and psychological weight of debt and how to think about it differently  This episode is essential listening for group practice owners considering growth, partnership, or an exit. Understanding debt isn’t optional; it’s a core part of building a strategic, sellable business. Transform Your Group Practice Actionable insights for practice owners and clinicians who want to lead, grow, or exit with purpose. This is the podcast shaping a stronger mental health system — one practice at a time. * Subscribe and listen to more episodes: https://yourgrouppractice.com/ * Want to be a guest? Reach out: info@yourgrouppractice.com About the Host Dan King is a lawyer turned private equity founder with a passion for fixing burnout in mental health. With a background in M&A, Shark Tank deals, and psychology, he now leads Fireside Strategic — investing in group practices that put people first. * LinkedIn: linkedin.com/in/danmking * Website: firesidestrategic.com

Ep43: Dan King on why your group practice may be unsellable

Group practice valuation is one of the most misunderstood topics in mental health, and the reality may be confronting. In this solo episode of Your Group Practice, Dan King breaks down a hard truth many practice owners avoid: your business might not be sellable in its current form. Drawing on years of conversations with practice owners and real transaction experience, Dan outlines the four core factors that determine whether a buyer or investor will seriously consider your practice or walk away. First, profitability. Buyers are not buying revenue; they are buying profit. Without a meaningful profit threshold (often around $400K post-owner salary), the business becomes difficult to justify operationally and financially. Second, clinician commitment. In a people-driven business, stability and engagement matter. Practices built on inconsistent or low-hour clinicians signal fragility rather than strength. Third, payer concentration. While relying on a single high-paying payer may boost short-term income, it introduces significant risk. Buyers heavily discount revenue streams that lack diversification. Finally, founder dependence. If the business cannot operate without you, it cannot scale, and it becomes far less attractive to any serious investor. This episode is a direct, practical guide for practice owners who want to build something that lasts—and something that can eventually be sold. Transform Your Group Practice Actionable insights for practice owners and clinicians who want to lead, grow, or exit with purpose. This is the podcast shaping a stronger mental health system — one practice at a time. * Subscribe and listen to more episodes: https://yourgrouppractice.com/ * Want to be a guest? Reach out: info@yourgrouppractice.com About the Host Dan King is a lawyer turned private equity founder with a passion for fixing burnout in mental health. With a background in M&A, Shark Tank deals, and psychology, he now leads Fireside Strategic — investing in group practices that put people first. * LinkedIn: linkedin.com/in/danmking * Website: firesidestrategic.com