Meet Jennifer Koriath | Licensed Professional Counselor

We had the good fortune of connecting with Jennifer Koriath and we’ve shared our conversation below.

Hi Jennifer, what was your thought process behind starting your own business?
When I was in grad school I had a “plan” for my career after graduation. I wanted to work at an insurance company as a behavioral health case manager and have a small private practice on the side. I never envisioned that the private practice would become something full time. After COVID hit, the insurance company I worked for went out of business and it was at that time that I decided to make my private practice my full time job. I created the S Corp and went through the process of setting my practice up with insurers. All along the way, it never occurred to me that I was really becoming my own boss. It wasn’t until I moved to Colorado that it hit me; I have the kind of freedom that I always wanted and didn’t know I needed.

Can you give our readers an introduction to your business? Maybe you can share a bit about what you do and what sets you apart from others?
From the beginning, I wanted to be the kind of therapist that is transparent in all things (and be therapeutically appropriate). I believe in transparency in billing, so I do a lot more with insurance than other practices do and especially more than hospital systems or doctors do. I will do the extra research about copays, coinsurance and deductibles and provide this information to my clients prior to our first session. I never want anyone to be surprised about the cost of therapy especially when this is a human based service that encompasses a lot of feelings.

I’ve been in business for about 8 years, 4 years as a sole proprietor and 4 years as an S Corp and it was not easy to get to this point. Owning an S Corp is really difficult and there are a lot of hidden costs and rules involved that aren’t present for sole proprietors. I thought hiring a CPA firm would be in my best interest but that turned out to be a mistake as they did not do much to assist me. Unfortunately, I think they weren’t really interested in my business but didn’t know how to say that so they just did the bare minimum and charged me lots of money to do so. I learned that just because a large firm is on the job doesn’t mean quality work. Now, I do a lot of the tax work myself and I have an accounting partner who I can ask more nitty gritty questions.

I definitely didn’t go into this thinking I would be the bookkeeper, secretary, HR rep and president but that is exactly what happened. I’ve learned so much about what it takes to be a business owner and how to approach a lot of different situations while also continuing to do the therapy work that makes this a business.

If you had a friend visiting you, what are some of the local spots you’d want to take them around to?
We’d start off with a few days in Colorado Springs/Manitou Springs and do a hike in Garden of the Gods and check out the Pikes Peak observatory via the train. Then we’d go to Denver and maybe a concert or a baseball game. We’d eat at Denver Pizza Company (soooo good). Then on to Glenwood Springs where we would whitewater raft and horseback ride. Then we’d drive to Aspen for a day trip to walk around and get the most delicious coffee at Sant Ambroeus coffee shop. To end the trip we would drive back to Castle Rock via Independence Pass and experience the views from the Continental Divide.

Who else deserves some credit and recognition?
This may be a little corny but I owe a lot to my own therapist for encouraging me and supporting me through my grad school experience all the way into owning my own private practice.

Website: https://www.thrivecounselorspc.com

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