This is Dave Kats, from Therapist Consultants and I have a tip for you.
You know, one of the most frequent questions we get in our consultancy is, “I’m thinking about hiring an associate," or, "I’m thinking about becoming an associate, what kind of split, what kind of percentage split is logical for a group practice?” No matter what I say there will be people that disagree with these percentages.
But I will tell you that it is very difficult to have a group practice and to provide a receptionist and to file insurance and do the other things you need to do for the office and make a profit if you don’t get at least 40% of the money that the therapist brings in. A normal split would be 60-40, where the therapist that does the counseling gets 60% and the office gets 40%. I will tell you that a lot of places even go 50-50.
I will also tell you that if you go 25-75 that you're not going to make any money and you will probably lose money at a group practice,...
David Kats: Hi this is Dr. David Kats and Dr. Michael Perusich, and we have of video tip for you. If you have staff, if you're working with staff, there's something that you need to do on a daily basis that's really going to make your office function a lot more smoothly. You're the king of this, so you explain it to them.
Michael Perusich: We started this a long time ago in our practice, and we call it the daily huddle. Right before, about 30 minutes before we open the doors, we get together as a group, as a staff, and we go over the schedule for that day. We talk about each and every patient that's on that schedule. We talk about what's going on with them. We talk about how their care is going. We talk about whether or not they're a new patient. What their condition might be.
Staff is able to ask questions about the progress of their care. What that does is it allows us to not only keep our patients present time consciousness, but we remember their names when they walk in the door....
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