Hiring an Associate

Hi, this is Dave Kats with Therapist Consultants and I have a tip for you.

One of the things you could do to improve your income, and also to help patients, is to hire an associate. Now there's a myriad of ways to hire an associate. The easiest way is just to let somebody use your office and charge them so much per visit. If they reserve a space, you charge them $15 or $20 and they use your room, and that's done. That's the only thing you do to hire an associate. Another way to do it is to hire an associate and charge them a percentage of what they bring in. They can use your space and if they collect $6,000, you may get 30% of that as your income for letting them use your space. A third way that you can work with an associate is let them rent your room on a percentage-basis full time. A fourth way is to let them rent your room at a flat rate, maybe at $300 a month. I have one therapist that has just a single-room office. She works Monday through Thursday days. She rents out her office, the single-room office, on Monday, Tuesday, Wednesday, Thursday night, Friday all day and Saturday all day and she charges one therapist that uses it half of it $350 and the other one that uses the other half $300, and that's $650. That pays for total rent. There's a lot of ways you can get people to work for you other than just hiring them as an employee or as an independent contractor. I would suggest that, regardless of the size you have for space, you probably have the ability to rent out your office at least to some capacity, which would help more people and make you more income.

This is Dave Kats. Thanks for listening.