“How should I pay my clinicians?”
“Where is all our cash going?”
These are two of the most common questions we receive in our monthly meetings and it’s where we spend quite a bit of time.
So…I teamed up with two amazing group practice owners, Christy Pennison & Steph Korpal of the Practice Collab to dive deep into this.
We talked about everything you’ll need as you consider how to best pay your clinicians:
How to measure your clinician & pay structure profitability
Should you go 1099s or W2s?
Hourly pay vs commission splits vs salary
The admin side of pay structures
Leadership compensation & more!
Christy & Steph made for a super fun conversation and have lots of experience with different pay structures. This is a must watch for you, especially if you’re:
New to group practice
Not as profitable as you’d like
Having retention or morale issues with your clinicians
Are considering adding leadership roles
Just want to feel confident in your pay structures
Either way, check out that video
You can skip to the following sections to see if they’ll be helpful for you:
0:00 Introduction & Why This Video?
6:05 Measuring Pay Structure Profitability
16:07 1099 v. W2 24:13
Transitioning from 1099 to W2
30:55 Pros/Cons of a W2 Practice
34:52 Hourly Pay Structures
40:28 Commission Split Pay Structures
43:44 The Administrative Side/How to Keep It Simple
49:19 Salaried Pay Structures
54:46 Leadership Compensation & Options
63:19 Final Thoughts & Takeaways
68:31 Practice Collab & Contact Info