Private practice percentage split

[ncantone]

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I was just offered a position to join a private practice. The owner offered a 50/50 split for the first year after I get licensed. Is this a good offer? What's the going percentage split in private practice these days?
He's offering a flat rate during the post-doc year but wants to make a 2 year contract.

 

[erg923]

I was just offered a position to join a private practice. The owner offered a 50/50 split for the first year after I get licensed. Is this a good offer? What's the going percentage split in private practice these days?
He's offering a flat rate during the post-doc year but wants to make a 2 year contract.

Depends really. Do you have to spend your time marketing (or is the practice and their referral base well established?) That is, do you/will you generate much of your own patients or are they handed to ya? Do you have 100% billing and secretarial support so you can maximize your billable time? I have heard 60/40 is more common, but 50/50 can be fair if all those answers are favorable.

And, 2 year "contract" for what, exactly? This isn't the US army ya know. If you wanna go before two years, its a free country. He can institute a "no compete" clause of course, but he cant force you to stay...

 

[Therapist4Chnge]

And, 2 year "contract" for what, exactly? This isn't the US army ya know. If you wanna go before two years, its a free country. He can institute a "no compete" clause of course, but he cant force you to stay...

...though it is highly debatable if it'd even be enforceable, though that is a discussion for another day.

 

[ClinicalABA]

...though it is highly debatable if it'd even be enforceable, though that is a discussion for another day.

In some jurisdictions, non-complete clauses are not permissible for professions, like psychology and medicine, where there are issues of public access to needed services. This doesn't stop agencies from writing it into a contract, though.

 

[erg923]

In some jurisdictions, non-complete clauses are not permissible for professions, like psychology and medicine, where there are issues of public access to needed services. This doesn't stop agencies from writing it into a contract, though.

Yea, I meant if it was contract work...

 

[ncantone]

Thanks for the info. The owner wants to do a 2 year contract- 1 year post-doc and 1 year after getting licensed. His argument is that if he is going to spend the time and effort in providing supervision and training, he wouldn't want to have someone leave after they get licensed. I've heard of some larger institutions doing this.
As for the 50/50 split, the practice will provide the referral base and advertising, which makes it sound like it would be a good deal. I'm still debating the 2 year contract thing. I will make sure to read the contract with a fine comb to make sure there's nothing shady.

 

[KKrak002]

What is a god percentage split for a group private practice in psychology that offers benefits (health insurance and 401 K) and office staff services (billing, filing etc.)?

 

[wigflip]

What is a god percentage split for a group private practice in psychology that offers benefits (health insurance and 401 K) and office staff services (billing, filing etc.)?

isn't there another active thread on this very topic right now?

 

[AcronymAllergy]

Mod Note: Merged KKrak002's thread into the existing one discussing private practice earnings/percentage splits.