Hello Group Practice Listeners! In this Tip of the Day episode, I’m talking about profit sharing.
In this episode, I discuss:
- different ways that group practices use profit sharing
- how I like to think about profit sharing
- how to integrate profit sharing with Profit First
- getting creative with how to pay your superstar employees
- one simple example of how to structure profit sharing in your group practice
- how profit sharing can work year to year
Have you implemented profit sharing in your practice to incentivize your clinicians? Let me know how it works in your practice!
This episode is sponsored by TherapyNotes. TherapyNotes is an EHR software that helps behavioral health professionals manage their practice with confidence and efficiency. I use TherapyNotes in my own group practice and love its amazing support team, billing features, and scheduling capabilities. It serves us well as a large group practice owner.
*Need a good EHR for your group practice? TherapyNotes is it. I’ve been using it for years in my own group practice, and it does really well when it comes to having the features group practice owners need. Try it out for FREE for 2 months by clicking here.