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Incentive program for private practice
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Incentive program for private practice - April 22, 2005 11:08:00 AM
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JSPT
Posts: 284
Joined: April 19, 2005
From: Michigan
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I have started with a new company recently and would like some input on incentive programs. I am a staff PT who has been making Dr. visits, developing community programs, speaking to groups to promote our practice, etc. My employer has said that they will be begin to compensate me for my efforts. They have asked me to come up with a system for compensating me, other than raising my base salary. Has anyone had any experience with this?
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JS
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Re: Incentive program for private practice - April 23, 2005 8:40:00 AM
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jma
Posts: 2414
Joined: August 24, 2000
From: NY
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I have not experienced this but I too would be interested what type of compensation would be offered for doing these activities
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Re: Incentive program for private practice - April 23, 2005 8:43:00 AM
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jma
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From: NY
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Perhaps you can send this question to the members of the private practice section of the APTA at: http://www.ppsapta.org/ and see what they have any input on this
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Re: Incentive program for private practice - April 25, 2005 12:16:00 PM
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FLAOrthoPT
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From: West Palm Beach
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I'd say you should get a bonus for every pt that comes through your door from one of those doctors you market to, for example if they know typically they get 16 patients a month from doctor X, and after you see them it is now 24, you should get let's say 15 a patient of the 16, so an extra 120 bucks. I also feel you and everyone should be paid per patient, negotiate a rate per patient, that way the more you market and get patients the more compensated you are, and if you do not market then you do not get many patients and do not get paid well, I feel that this is the trend of PT markets right now, sub contract basically-
Ben
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Re: Incentive program for private practice - April 25, 2005 3:06:00 PM
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JSPT
Posts: 284
Joined: April 19, 2005
From: Michigan
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Thanks for the input. I think that is the type of plan that will work the best. The hard part would be tracking patients not designated to a certain doctor.
For instance, I am working to develop a protocol to address obesity, and with our current system, it would be hard to track every patient that is referred uder that protocol. Ah well, I'm sure the answers will become apparent in time. Thanks again for your time.
Jeff
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JS
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Re: Incentive program for private practice - May 3, 2005 6:38:00 PM
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webrehab
Posts: 24
Joined: January 31, 2002
From: San Diego
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We have come up with a matrix that assigns different weights to contributions to our practice. For example, marketing, professional development, research, etc. When it comes time to profit share, we look at each area and the respective clinician's contribution.
It works pretty well.
I would suggest you target new docs or current docs you haven't seen many referrals from. That way, when you market to them and they start sending patients, there is no question that it is your effort that is responsible for the new referral. You might then come up with a compensation plan.
There is nothing better than having a doc that refers one/month refer 4 or 5. A lot of potential there.
Your boss must be willing to share the referral names and numbers of course.
Good luck.
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David Straight, MPT, OCS
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Re: Incentive program for private practice - May 3, 2005 8:18:00 PM
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Diane
Posts: 1507
Joined: March 9, 2001
From: Vancouver, B.C., Canada
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Hi David,
Can you explain what is meant by "compensation plan"?
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Re: Incentive program for private practice - May 4, 2005 8:08:00 PM
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webrehab
Posts: 24
Joined: January 31, 2002
From: San Diego
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Diane,
It could be a percentage/patient/visits, a dollar amount per patient, a percentage of gross revenue/month, that is up to the employer/employee who enter into the agreement.
DS
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David Straight, MPT, OCS
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