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Hello.

We are considering offering some space to a physio to increase revenue, at our practice in NW England (we have a large room dedicated to biomechanical assessment that isn't being used six days a week). I have a couple of introductory meetings this fortnight, so am looking for some information.

Has anybody any experience with this?

We already have associates working on a percentage of money taken basis, but they are podiatrists.

Do you rent time, or take a cut of takings? Either way, what rent do you charge, or what percentage do you take?

Thanks.

 

I work in a private practice which is shared with a number of paramedic professions, such as psychologist, speech therapist, physio, nurses ...
THE system we use is based on renting time.

I pay about €250 for 4 days a month + phone/Internet . That's a really good deal, but only possible if you have many professions to time-share with.
Problem is that you can't have other moments for consultations then the time you rent. But that made me face the need for good time management!
Hope this helps in some way!

 

It does thank you.

That was my feeling.

With our fellow Podiatrists, we work on a percentage basis, as they just turn up, see a list of patients and work (treat and write notes up). All appointment making, inquiries, instrument sterilisation, supplies, management of patient data, and cleaning etc. is undertaken by ourselves.

This works very well. But I feel it may be different for another practitioner, as they would probably wish to retain their own patient data sets, and book their own appointments. Apart from the room, treatment table, treadmill and computer, a physio would supply their own equipment too.

This is why we are thinking along the lines of renting the room per session (morning, afternoon), or day.

I gots me some thinkin to do. :)

 

I share my rooms with a physio practice. We have five consulting rooms of which two are for Pod and two are for Physio. The spare room is just shared between us as required. We further equally share the utilities, rates and other standard outgoings. Added to this, we share the reception by hours of use. Thereby sharing the daily costs to running our practice.
We work out the rental on a commercially based rental fee and divide it by the area utilised. In our case it is half each. My aim is to reduce my on costs by sharing. I don't think try to dip fingers into others takings would make for a long term co-tenancy. My Physio has been with me for 15 years.

 

Thanks for the input.

Our Pod associates currently work on a 60/40 basis (in their favour). They benefit from just turning up, being given a list of patients, treating, writing notes, getting paid, and going home. My business partner and I taking care of the actual running of the business, and taking care of ongoing day to day issues.

But, and I think you are right, a Physio would be different, as they will have their own equipment, clientèle, etc.

The benefits for both are in my opinion as follows:

a) Percentage Basis: A practitioner knows where they are. When they work, they pay, when they don't, they don't. If they have a slow day, they do not have to pay a standard rate for the time spent in a room, but a percentage of actual work carried out.

b) Rental: Probably gives more independence to the practitioner. They can use the space as they want, book their own patients, tailor their own treatments, and charge their own price. The downside maybe that in slow times they could actually pay for a room and not make profit from it.

I believe that for a Physio, option b) maybe the best way to go, even though option a) works so well for us Pods.

I am also certainly not interested in dipping my fingers into anyones takings either. I am looking for the best amicable solution, given the circumstances.

A long term relationship with a good physio(s) (like you mention) would be my wish too.

Thanks!