Hi, this is Dave Kats with Therapist Consultants, and I have a tip for you.
We are often asked how much you should pay an associate therapist. The price varies widely, but it depends if you're an insurance practice or if you're a self-pay practice. If you're an insurance practice, most common split is a 60/40 split, where the therapist gets 60% and you, the owner, gets 40%.
However, if you're an insurance practice, that could go up easily to 50/50, where the therapist gets 50% of the income they generate and you keep 50% of the income you generate, but I will tell you that anything that you pay more than a 60/40 split, you're probably going to find that you're not making any money by hiring an associate into your practice. Make sure that you get at least your 40% and possibly more than that so you can profit on the work that you do in helping this associate.
This is Dave Kats. Thanks for listening.
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