In this episode of What's Best For The Patient Is Best For Business, Jerry sits down with Jason Wambold, MSPT and VP of Operations at OnusOne, to tackle one of the most persistent and challenging issues in physical therapy: clinician compensation.
Jason shares his personal story of nearly leaving the PT profession due to crippling student debt and a compensation model that didn't reflect his value. This experience led him to co-found OnusOne, a company revolutionizing how rehab professionals get paid by creating transparency and aligning incentives between practice owners and their clinical staff.
Jerry and Jason dive deep into the flaws of traditional salary and hourly pay models, explaining how they often suppress earnings and create misaligned expectations. They discuss how the OnusOne software platform empowers practice owners to build customizable, data-driven compensation models that allow therapists to see the direct connection between their work and their paycheck.
Key Takeaways:
• The Transparency Problem: Most therapists don't understand the link between the revenue they generate and their compensation, a fundamental disconnect unique to physical therapy compared to other healthcare professions.
• Unlock Earning Potential: Moving to a variable compensation model allows clinicians to directly control their income, giving them a clear path to achieve their financial goals without having to ask for a raise.
• A Powerful Hiring & Retention Tool: Implementing a system like OnusOne is a significant differentiator in the interview process, allowing owners to show candidates exactly how they can achieve their desired salary.
• The Calibration Point: The success of any model hinges on the owner first understanding their business's financial "zero point"—the minimum revenue needed to cover all expenses—before building plans for their team.
• Change Management is Key: Successfully transitioning a team requires a long-game approach, offering choice (including a safe, 100% salary option), and comprehensively testing models to build and maintain trust.
If you'd like to learn more about Strata EMR & RCM and achieving a 99.99% reimbursement rate for your PT, OT, or SLP Clinic head over to stratapt.com and book a demo with their team!