Practice Profitability and staff compensation strategies Physical Therapy Clinics

"It & # 39;? S 11:10 at night … Where is Peter" Alicia asked himself as he woke dozing in front of the TV with their daughter, Jessica. He was glad to hear the sound of a door unlocking and Peter walks. He looked exhausted, but he was happy to continue with Jessica to bed. After all, it was Saturday, and he should have been the day.

Alicia was proud of his or her husband. He worked tirelessly, not counting hours, evenings and weekends so that he could achieve his goal of owning your own gives Alicia the freedom to dedicate herself to raising their two children, and continues to be pursued MBA.

Peter opened his practice two years ago and built his company from the ground up. Referrals are growing rapidly, and he is now seen in 100 patients visits per week. It recently rented PTA in addition to his administrative staff to help him with his growing case load. His passion was for the treatment of patients, but the current priority was built in practice. Peter told Alicia that a year or two, he could pull more than $ 600,000 a year, so maybe $ 6 million over ten years.

"Pete, Jessica. They were very upset that he missed football games over all the other dads." Alicia said disapprovingly. Peter worked every night and on weekends for the past 3 months. "I do not understand why you spend every evening and weekends at the office," he said. "It is not the staff that need this treatment while the majority of this work? Is it to stay late to help?" Asked.

"I really do not need this extra stress right now," he said. "I can not pay them overtime to help, and I really can not sit there and look at what & # 39;. Do all day"

"You know, Peter," Alicia pressed "It & # 39; s clear to me that the & # 39;. Does not adequately address the staff"

Peter felt as if punched in the stomach. He did not want to attack Alicia. In the past two years he has been to take care of Jessica while chasing MBA. Peter began a headache.

"You're head bowed throughout the day to treat patients and not paying attention to what's going on in the staff." he added. "Last month, we had to replace all the front office personnel and two months ago, we replaced the biller."

"You & # 39; paying the $ 12 administrative employees and hours and just hired a PTA of $ 45,000 a year, but it & # 39;. Is doing most of the work anyway" Alicia continued, more and more excited. "You have to lose money because of traffic and salary and on top of that you & # 39;. Never home anymore When you go to 100 patients a week and then spend every night and weekend business administration, why are staff at all?" Alicia asked.

"Good question, I do not know," Peter replied reluctantly.

"Katherine called the other day." Alicia said.

Peter Katherine went to college. They graduated together and were good friends. Katherine opened her practice four years ago was the process of opening her fourth place. He was an average of 800 visitors a week.

"we did not talk for long because she was to take her golf lesson, but during the few minutes we talked, I thought of an idea," said Alicia.

"I did not even consider taking golf one day," Peter thought to himself. "OK Alicia, what you get?" Peter gave.

"You know, he was paying staff based on performance Let & # 39; s start with some facts Employee salaries can vary in three ways:.. The type of service years of experience and the location of

four basic. compensation: hourly, monthly, base salary plus performance bonus and profit-sharing or pure commission, "said Alicia, passing the table to Peter. 'compensation costs in a business activity employee If you have not used, it would eliminate this cost, but if you time. greeting patients and chasing insurance claims, there is no time to treat patients and manage transmission conditions. So the woman, you need help. "

" So, you hire the treatment of patients crew suffering to greet them and the schedule of visits and chase insurance premiums. the problem is motivation. can you tell me what is the cost of unmotivated front office staff? "

" Well, Alicia, "said Peter," an unguarded front office person could be, the patient's nervous, forget to collect co-pays, can not follow up the missed appointment. They also receive other office staff nervous, because they will not work together as a team. the price of unmotivated front office person can be increased patient retention rates, impact on cash flow and ultimately the bottom line. the price of an unmotivated rent a lot more expensive than a few dollars per hour … "

" So, Alicia, "Peter replaced, despite the late hour," If you look at the front office staff and skilled pays $ 15 or maybe $ 18 per hour? "

" Not so fast. "Said Alicia." If you pay more per hour, it reduces traffic because it will compete with compensation around less practice, but you'll still have the same motivation problems, regardless of whether they pay for $ 12 and $ 20 per hour. Say what you & # 39; and the problem of paying hourly wages of personnel, that needs people interaction skills? What is the ultimate goal that important office workers must comply with? "

" I get it now! "Peter did not notice a loud voice." The front office staff responsible for patient loyalty and referrals. Working people requires attention to detail and interest in the problems. Especially if you are at work, injured or sick people. It & # 39; s hard work, people feel burnt out. So you have to take note of the results of compensation and incentives, such as new referrals, less irritation, fewer missed co pays. I was able to structure the front office salary to receive minimum wage standard work and the percentage of collections to give them incentives to grow referrals and keep patient care plan compliance. As more referrals, less annoyance, efficient collection of police pay increase collection and balances could work more and more as the highest-paid staff around!

"Right," said Alicia, "and not all people will be ready for this kind of compensation but that & # 39; s OK too. Why is the lease wrong man for the job, and then discovered to be missing the skills and motivation to do the hard work? "

" So, what about the PTA? There must also pay a bonus? why? "he asked Peter.

"Of course I do not want to pay him not shown during idle hours, and we do not want to pay in proportion to the number of patients you see and better plans of care is the & # 39;. And profit sharing names," said Alicia.

"… or commissions," continued Peter thinking "OK, I get it. – Commissions and bonuses to help people focus on the result of their work, not the difficulty of the compensation structure helps motivate staff, and. to avoid improves teamwork, problems, and contributes more my bottom line. "

" So, why not move all of my staff commission? "asked Peter.

"It & # 39; sa proper business approach," said Alicia, "except most people do not have the self-confidence and productivity work of pure commission instance, the biller agree to work 100% commission. the insurance collection? Most likely, it will not, because you need to pay her mortgage and other fixed costs, and does not know that his income depends on the patient flow, and insurance companies. he expects a continuous review, regardless of income, which depends on the performance. in fact, there are ways to measure the performance? If performance discovered during what would you do? "

" Today I pay for her, regardless of her or my practice performance this & # 39; s not a healthy relationship, "complained Peter:".. It & # 39; s hurt the business "

" the good news is, that, like Katherine & # 39; s office, there are companies working on commission only layout, "said Alicia," outsourcing would be billing more sense because it is a specialized billing companies manage their employee performance processes, including appropriate incentives methods. Actually, if you talk to an outsourcing company, always ask them how to compensate employees? These are all of the commission? If not, you'll end up the same problem even less control. "

" In fact, no matter how large or small of my practice is, every detail must work together to succeed. If the administrative staff makes too much resignation and did not help links, sick visits will suffer, and revenue will decline, "said Peter.

" The Pay-for-Performance pay scale rewards the staff who produce and disadvantage those who do not. As the owner of the practice, I always pay-for-performance pay. Pay yourself less if the company & # 39; s revenue down. Why should not the staff & # 39; s revenue can be the same way? I'm going to change the setting compensation for my employees tomorrow, "Peter's voice is very excited.

" Slow down, Peter, "said Alicia." Before you make any changes, review the Human Resources and Compliance experts give good advice, "warned Alicia." It does not need a lawsuit because it lacked a legal requirement that we want the changes. ? "

What do you think is Alicia improved her reasoning

know the PT-specific personnel system, which can make Alicia & # 39;? S and Peter & # 39;? S dreams

Source by Yuval Lirov

Leave a Reply

Your email address will not be published. Required fields are marked *