The Importance of Having Clear Contracts for Your Staff
If your practice is growing and your case load is full, so now you are considering hiring more therapists.
Whether you hire them as employees or on a contract is a personal choice, and will be based on your business model. However, it is important to be fully aware of the facts and establish clear guidelines before you do.
As a business owner, you can get contracts wrong, and the penalties can be weighty and may influence the success of your practice over time.
It's Important to Have Clear Contracts
Ensure your Contracts are Clear
Establishing a practice is costly and it can take years to establish a full case load. However, this is no excuse to skimp on legal costs.
In fact, it would be wise to consider the costs involved in preparing your contracts as a type of insurance which will protect you and your clinic in the years to come.
Make sure that the contracts you draw up include every detail pertaining to your expectations of your therapists, and what they can expect from you.
This may come down to whether you provide stationary, access to a receptionist, and what hours they might be expected to work.
Include a Wide Range of Metrics in Your Contracts
You don’t want your business going under as a result of our poor planning or having the IRS levy heavy fines and expenses
Make sure that your contracts, policies, and practices are all in alignment with one another. Pay for legal advice which will protect your business.
Help from the IRS
Here’s a link to an IRS PDF with more information on determining whether or not to reimburse people as employees or contractors.
