staff practitioner compensation structure
David Fenton
Description
Collection
Title:
staff practitioner compensation structure
Creator:
David Fenton
Date:
7/2/2014
Text:
Original Question:
Greeting List,
Question for owners of small O & P facility: In these challenging and
unjust financial times, what creative structures are being used to
compensate staff practitioners? In light of situations where the revenue
generated and recorded for a particular month can be quite different after
a Medicare takeback occurs months later or payment is delayed for a year or
two.
Thanks
Responses:
1. Hey David,
We have increased the percentages of Non-Medicare pay sources such as
Hospitals, VA, Work Comp, etc.
2. Dave,
Base your compensation on collections and not sales , adjust your structure
if you have based on sales, and be fair.
I would provide a base salary commensurate on experience and an incentive
to drive and grow business. Keep your labor % low where you profit and you
build a long term employee. It is a win win all around.
3. In my office I just fired them all.
Greeting List,
Question for owners of small O & P facility: In these challenging and
unjust financial times, what creative structures are being used to
compensate staff practitioners? In light of situations where the revenue
generated and recorded for a particular month can be quite different after
a Medicare takeback occurs months later or payment is delayed for a year or
two.
Thanks
Responses:
1. Hey David,
We have increased the percentages of Non-Medicare pay sources such as
Hospitals, VA, Work Comp, etc.
2. Dave,
Base your compensation on collections and not sales , adjust your structure
if you have based on sales, and be fair.
I would provide a base salary commensurate on experience and an incentive
to drive and grow business. Keep your labor % low where you profit and you
build a long term employee. It is a win win all around.
3. In my office I just fired them all.
Citation
David Fenton, “staff practitioner compensation structure,” Digital Resource Foundation for Orthotics and Prosthetics, accessed November 2, 2024, https://library.drfop.org/items/show/236587.
