Fee Splitting as a Post Doc at a Private Practice

[Whitney Anne]

I just recently got offered a two year part-time post doc position at a provide practice. The psychologist is offering a 40% /60% Fee split. I keep 40% she keeps 60%. She shared that I will receive an increase when I meet revenue related goals, which will be discussed and agreed upon when I start. Is this fee split reasonable or acceptable? She will be providing supervision, all testing material, furniture, office space, didactics in creating a private practice, referrals, all marketing material, and paying for my provisional license.

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[Justanothergrad]

I worked a fee splitting model before. One thing worth discussing is how referral rate looks because 40% of 20 hours a week is not a lot. If there is enough referrals, then thats not a concern. Also, how much of that is outpatient work versus assessment / is the 60/40 rate the same since the two bill differently.

 

[smalltownpsych]

100 an hour at 40 percent times 20 equals 800 a week. Sounds like good money for a postdoc to me. I was actually offered 3o percent for a postdoc and strongly comsidered it. The main reason I didn't was because of uncertainty of income being a big issue at that point in my life. We had just taken out a higher interest grad plus loan while I was trying get the dissertation done. Which I just got completely paid off the other day and am still celebrating that!

 

[OneNeuroDoctor]

I believe full-time is 32-hours per week over four days per week. Some licensing boards have different requirements so you need to check with the Board where you will apply for provisional licensing. Some Boards specify formal postdoc with didactics, individual and group supervision, whereas others require only one-hour per week of supervision.

One of the States where I hold licensure only required one-hour per week of supervision but the other two States I am licensed in required two-hours per week of individual supervision. Once I was approved for NR-HSP, the other two boards had to accept my application for licensure, as their licensure guideline specified NR-HSP as an eligibility standard.

If you graduated from an APA accredited program or NR-HSP approved program and APA accredited internship you can apply for NR-HSP and ABPP early career applicant and as soon as you finish your postdoc hours you will be eligible for licensure in most states.

40/60 percent spit is based on collection and depending on billing the amounts will vary. During my postdoc, I did mostly Medicaid reimbursed fee for service and there is a two to three month delay and some services are denied payment. I did not receive payment for these services but my supervisors wrote these as losses on Income Taxes.

Most postdocs pay poorly but remember it is still training and once you are licensed you will make significantly higher amount of money. 40/60 percent split seems reasonable for a postdoc and she may need to pay you in advance for living expenses until she begins receiving payments in two-three months.

 

[Whitney Anne]

Thanks for all of your advice. I believe there is a very good referral base. I will start off working a couple hours a week and then build my way up to 30 hours a week staring year two. She has set up a progressive increase of hours over the course of the two years. Florida requires that the post doc averages at least 20 hours a week for no more than 104 weeks. Given her 2 year progressive increase of hours plan, I will work an average of about 21 hours a week over the course of 104 weeks.

As for the split, she told me it is negotiable. I was thinking about asking for a 45/55 split. She is buying furniture for my office and letting me pick it out so I know that will be expensive. So I think 45/55 would be ok? Thoughts?

I live in Florida and we are required to have two hours of supervision a week. One has to be individual face to face and the other can he group. I will be doing 2 hours face to face. She will have 30 mins of diactics a week.

 

[Justanothergrad]

I wouldn't worry about the 45/55 versus 40/60 split as that won't make as larger of a difference as how she covers the reimbursement holding periods, rejected claims, etc- especially if your rate is based on payment received versus services rendered. Those issues will produce greater differences in pay and how the pay is received. The devil of negotiation is in the details of those aspects; Just my .02.

Her purchasing furniture and allowing you to pick it is nice, but part of the business end of it that serves not only immediate interests, but tax interests and long term prospects.

 

[smalltownpsych]

Thanks for all of your advice. I believe there is a very good referral base. I will start off working a couple hours a week and then build my way up to 30 hours a week staring year two. She has set up a progressive increase of hours over the course of the two years. Florida requires that the post doc averages at least 20 hours a week for no more than 104 weeks. Given her 2 year progressive increase of hours plan, I will work an average of about 21 hours a week over the course of 104 weeks.

As for the split, she told me it is negotiable. I was thinking about asking for a 45/55 split. She is buying furniture for my office and letting me pick it out so I know that will be expensive. So I think 45/55 would be ok? Thoughts?

I live in Florida and we are required to have two hours of supervision a week. One has to be individual face to face and the other can he group. I will be doing 2 hours face to face. She will have 30 mins of diactics a week.

I don't know if I would negotiate the starting rate as much as I would focus on the later rate when you are fully licensed and have a solid practice going. It sounds like she is willing to work with you and provide a solid launch for your career and that in itself is incredibly valuable.

 

[Whitney Anne]

I don't know if I would negotiate the starting rate as much as I would focus on the later rate when you are fully licensed and have a solid practice going. It sounds like she is willing to work with you and provide a solid launch for your career and that in itself is incredibly valuable.

That makes sense to wait until later to negotiate.