What % Of Your Admin And Wage Salary Be To Your Profits?

How do you get more new patients or hire more clinicians at your clinic and yet still remain profitable? This is the question, and I'm on a journey to get you the answer. I'm going to interview the best marketers and clinic owners across the world to give you access to their winning strategies from recruitment, marketing, operations, finance, and more. So you can easily take action on the secrets to grow your clinic. I'm Rick Lau. Welcome to Clinic Boss Secrets. Hey, everybody, it's Rick Lau here. You're gonna love this episode. We're gonna be talking about min wages and what are some benchmarks for them in this epis. I talked with Sanjeev, Karen and John Clay, one of our coaches inside Clinic Accelerate. Check it out.

And men's salary and wage expense. What ratio, everyone? And for you, Tokyo Hands Challenge, you should know that. What is the range this should be in compared to revenue? What do you think it should be? Okay. Where do you want to be around?

Well, less than. Less than 10. And this is. This is a big one for us. That changed. And Steve remembers conversations about this and things that we had to do that we were up around 17 plus for that. So we just, we had overkill up front desk. And that was also because Paula's salary was purely being taken on. So that was one of our sort of main goals in how in the changes that we did a couple years ago, maybe me three years ago, was to bring that number down.

Yeah. And this is asking this include the managers as well.

No, well, we the partners are it. So. But that would include like the patient experience manager. Yes.

Yes. Okay. Okay, awesome. So, yeah, 10% less than 10% is kind of where you want to be sitting. Okay. That's the ratio. Okay.

And I think if I can just add to that. I think too you need to decide, like, for me, I'm okay. I'm okay with a little higher. For my admin ratio, I made a really big shift in mindset of the. The admin that I wanted, which means I have to pay a little bit more, but I get a much better retention and much better employee. So I'm mine. You know, I sit around 10. Sometimes it's a little higher 10 to 12, but then I adjust my ratio somewhere else where I'm willing to lower something because I'm okay with a higher admin ratio. But that's. And it's very individual. That's just what I' decided. So you don't have to like, you don't have to be stuck there because I used to fight like hell to try and be. Oh, 8%. 8%. And it wasn't working. So just keep that in mind. It really depends on your company.

Yep. And Karen described the risk perfectly. When you go to the ratio, then you think risk. She's willing to spend a little bit more to get more. Right. Because it frees her up to do something else. Kind of like what Kelly wrote. It frees me up to do growth things. Okay. So she's willing to take the increased risk of the financial risk to do other things that will grow the business. Okay. Almost like you're looking at this as an investment now, right? Not a cost. This is an investment I'm doing so I can do other things.

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