Production is defined as fees generated and collected for services the doctor is formally involved in the delivering.
I. Three options
II. Salary - yearly salary plus benefits
A. No guaranteed base
B. Percentage of production: 18-25%
1. What determines percentage?
2. Total compensation statement
A. Guaranteed base
B. Based on percentage of the doctor's production
C. Let's look at how the method of compensation is applied
V. Definition of production
B. Products and services not included in production
C. Different percentage for products and services
VI. Set up two doctor provider codes
A. One for the doctor and the second for "Dr. Jones-Rx"
A. Health insurance
B. Continuing education
C. Dues, license, etc.
F. Retirement plan
G. Life insurance
H. Personal veterinary services
VIII. Take the mystery out of doctor production
A. What's included in doctor production?
1. Be specific
2. Be consistent
3. Be a role model
4. Be a coach
B. What you can do to improve production with Associates –
1. Set expectations
4. Set practice standards of care
5. Use an employment contract
6. Assure team training and leveraging
7. Align the schedules
8. Charge for all services and products
9. Update the fee schedule regularly
10. Develop skills
11. Evaluate technology and expansion
12. Do not allow sharks in the tank!
Total Compensation Statement
Crediting Doctor Production