Episode 78: Clinician Compensation Minefields (with Jacquie Kiefer)

If you are starting to grow your solo practice (or are looking to restructure your current group practice compensation model) then today's episode was made for you! Julie's chatting with a member of the GreenOak Accounting team, Jacquie Kiefer, about all things compensation and some common problems you can easily avoid when creating a compensation model for your practice. Jacquie Kiefer is an Accounting Manager at GreenOak Accounting. She is passionate about helping her clients see the big picture and how their companies are progressing. She lives in the details of each client's day-to-day business, and prides herself in helping them achieve their goals! Originally from Colorado, she now calls Florida home, spending most of her free time adventuring with her boyfriend and their five dogs, fishing, hunting, and enjoying the outdoors. EPISODE HIGHLIGHTS The simpler the compensation structure, the easier it will be to run & grow your practice! Having a solid, simple compensation structure in place will cut down on administrative time, the frustration that comes along with tracking payroll, and will help you manage the overall finances of the practice with ease Interns & pre-licensed clinicians can be supervised by a clinical director The weight the clinical director is taking off your shoulders, along with the added income of the inters/pre-licensed clinicians help compensate for the director's overall salary and still leaves room for growth What percentage should you start new clinicians at in order to sustain your practice in the long run? The ideal percentage for a pre-licensed clinician is around 40% while a full licensed clinician is around 45-50% This leaves room for benefits, raises, bonuses, insurance, etc. LINKS & RESOURCES GreenOak Accounting - www.GreenOakAccounting.com Therapy For Your Money Podcast - www.TherapyForYourMoney.com Profit First for Therapists - www.ProfitFirstForTherapists.com