The P.T. Entrepreneur Podcast
Ep779 | How To Figure Out Staff Break Even
Jan 9, 2025
Feeling anxious about making your first hire? Discover how to calculate the break-even point for new employees by dividing their salary by your average visit rate. Learn strategies for building their schedule and managing salary burdens effectively. Whether opting for part-time or full-time staff, find actionable insights to help elevate your team and business. Focus on manageable goals like reaching break-even, and understand how strong recurring visits can ease the hiring process. Your growth potential awaits!
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Quick takeaways
- Understanding the break-even calculation allows physical therapists to confidently make their first hire by determining necessary patient visit volumes.
- Shift your mindset by focusing on manageable goals like achieving a new hire's break-even point rather than fully filling their schedule immediately.
Deep dives
Overcoming Hiring Fears
Fear surrounding the first hire is a common concern among physical therapists looking to grow their practices. Many practitioners feel apprehensive about taking on the financial responsibility of a new employee, especially when managing a growing clinic that may still be in the initial stages of development. To counter this anxiety, understanding the basics of break-even analysis is essential. This involves calculating how many patient visits a new hire needs to generate in order to cover their salary, providing clarity and confidence in the hiring decision.
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