How to Create Profitable Pay Structures for Your Private Practice

“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