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.
Hi, this is Dave Kats, with Therapist Consultants and I have a tip for you.
You know, there's one way to add new revenue to your practice and sometimes an easy way, but sometimes not so easy, and that is to hire an associate. The easy ways are these. The first thing you can do is simply rent out your room or your office at times when you're not using it. I have a therapist in the Greater Dallas area who works Monday, Tuesday, Wednesday, Thursday. She rents out her office during those evenings and on Friday and Saturday to two different therapists. She charges one $300 and the other $350, so she gets $650 a month in rent. That's the exact amount she pays for the whole office. She gets her office for free by renting them.
There are other ways to also have associates work for you. Number one is you're going to rent out your room simply on an hourly basis. Perhaps you have an extra room or your room when you're not using your room and you can rent it out. The typical rent fee is about...
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