Can a Shared Model Work for Therapists in Private Practice?
When you are either establishing your own practice or you are looking to join one, you should consider carefully which practice model is right for you.
The Shared Model is where there is no direct ownership of the practice. Instead, all clinicians own their practice and simply divide expenses evenly.
Unlike the Percentage Model, the Shared Model would suit those clinicians who have a good sense for business and can work independently.
Each clinician’s practice is their own. This means he or she is responsible for their own practice, while many of the costs are shared.
Can a Shared Model Work for You?
Higher Profitability
If set up properly, there is the opportunity for each clinician to gain highest potential profitability.
There is also the advantage of shared expenses, and greater buying power when the whole group needs items and staff.
While sharing the costs of running a practice, you can earn a larger income if you are willing to work hard because you get to keep more of what you are earning in comparison to other group models.
Shared Model Advantage Working with Your Peers
Working With Your Peers
With individual private practice, the clinician doesn’t have much contact or connection with their peers.
This can lead to a greater sense of loneliness, and it also doesn’t allow the individual to sharpen their skills or bounce ideas around with their peers.
The Shared Model, on the other hand, does. Each clinician has the opportunity to work alone, and develop their practice model the way they want to, and they get to mix with their peers, share ideas and perhaps work through issues.
The best practice model for you may be determined by your experience running a business, and your personality with some models more suited to people who work best alone.
Nonetheless, it is worth doing some research and finding the one which is right for you.
Once established, Therasoft can help you retain clients and build your practice.
