Better to be Paid Per Hour or Per Patient? Hourly Salary vs. Per Patient Commission Comparison

Money money money moooonnnneeeyyyyyy!!!

Today we talk about how we earn it in healthcare. There are 2 main methods of payment in private practice physiotherapy, as well as many other ends of the healthcare spectrum. These being, hourly salary or wage, in comparison to a per patient commission split.

Hourly salary:
A dependable, consistent, way of earning money. Each hour of work earns you a specific amount of money. You earn your salary based on how many hours you work.

Per patient commission:
A more volatile way of earning that is always related to how many patients you're treating. It's a more unpredictable method of earning money because the number of patients you treat generally fluctuates a fair bit, but can allow for higher amounts of earnings on busy patient dates.

The goal of this video is to help you understand what each of these payment models is, as well as how to compare one model to the other. This comparison will be grounded in a specific example with numbers, to help make it more clear but also help you understand how to do these calculations for your own negotiations.

In general, hourly salaries are more predictable and safe but lack the top end salaries of percent split models. Percent split commission models do contain the risk of earning variable amounts on different days though, because of how many patients you see.

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So why watch A Physio Named Jonah?
For free videos about the human body, injuries, rehabilitation, the world of Physiotherapy, and whatever other shenanigans comes along. Maybe you can learn something new and not feel like you're stuck in a classroom waiting for the bell to ring.

A Physio Named Jonah is a channel created by, well, exactly who you think. The channel features primarily Physiotherapy based topics, or things that it would make sense for a Physical Therapist to weigh in on. The goal is to make these often sterile topics interesting and easily accessible to anyone with a few laughs (or forced exhales from your nose if you're alone) along the way.

Jonah is a Canadian Physiotherapist who works with a primarily outpatient orthopaedic population at a clinic in Sudbury, Ontario. He completed his Master's of Physical Therapy at the University of Toronto, with his Bachelors of Sciences specialized in Human Kinetics coming from The University of Ottawa. He is also considered by his parents, fiancee and 2 dogs to be a pretty cool guy.

Chapters:
0:00 - Intro
1:02 - What are these models?
3:01 - Practical Example with $$$
8:47 - Summary of example
10:37 - Thanks for Watching!

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#physicaltherapy
#rehab
#physio
#finances
#money
#healthcarebusiness
#negotiationskills
#commission