Guest guest Posted February 27, 2005 Report Share Posted February 27, 2005 Patrcik, This is only me opinion, but your idea of investment into your practice has merit. Have you thought of creating a two tier plan a. investment and b. earn additional ownership. Most PT's don't have alot of cash to invest into a partnership. This will allow them to have an immediate equity and the opporunity to add to that by the sweat equity of building the practice up. You will need to bring things of value to the table in both scenerio's: contracts, contacts and the like to have a foundation and a substantial amount of money for the start up costs that will jump start the new office. This will create a win-win scenerio for both you and your partner(s). alex Quote Link to comment Share on other sites More sharing options...
Guest guest Posted February 28, 2005 Report Share Posted February 28, 2005 Hey : I think I would start the relationship on a short trial basis (3-6 months) if you're not that familiar with the prospect in order to asses if you can live with the person and to see how you work together. If you like him/her then the deal is based a lot on what they can do going in financially. Obviously you want a cash commitment but you could make that part lower and the buy in coming from profits and a lower fixed salary. Maybe offer two years under those terms before the balance has to be taken out by their own independent financing. You have the option to fix the price now or adjust it by growth. Careful on the adjustment as the success of the partnership could in essence make it too expense for he/she to complete the buy out. On the other hand that would produce more profits and complete the buyout sooner. My point is that if the person you really want, can't afford it, you may need to be flexible in working out a plan that does work. Best wishes! Doug Doug Sparks Advanced Physical Therapy Concepts / APTC www.aptc.biz<http://www.aptc.biz/> doug@... Partnerships Hello group. Are any of you devoloping " P.T. " partnerships for a business structure? What are the pro's and con's? Do you ask for a cash buy in or earn ownership as the years build up? I have expanded and want to add partners to help run another clinic. I think that if the person has an invested interest than they will work harder to build the practice. Your thoughts are very much welcom. Zerr, P.T. www.summitpt.com<http://www.summitpt.com/> Looking to start your own Practice? Visit www.InHomeRehab.com<http://www.inhomerehab.com/>. Bring PTManager to your organization or State Association with a professional workshop or course - call us at 313 884-8920 to arrange PTManager encourages participation in your professional association. Join and participate now! Quote Link to comment Share on other sites More sharing options...
Guest guest Posted February 28, 2005 Report Share Posted February 28, 2005 Hello , that is a good subject in terms of adding a partner by purchasing a shire as per the value of the business , but if u hire him as a independent contractor with high dollar amount closer to a k1 amount at the year end will be a good idea too , the advantage is you are risk free for the following areas 1. if he is not a hand worker you can replace him 2. 100% ownership is still safe in your hand 3. independent contractor will pay his taxes when u issue a 1099. Thanks Tom Mathew Med Rehab Services inc. MI Zerr wrote: Hello group. Are any of you devoloping " P.T. " partnerships for a business structure? What are the pro's and con's? Do you ask for a cash buy in or earn ownership as the years build up? I have expanded and want to add partners to help run another clinic. I think that if the person has an invested interest than they will work harder to build the practice. Your thoughts are very much welcom. Zerr, P.T. www.summitpt.com Looking to start your own Practice? Visit www.InHomeRehab.com. Bring PTManager to your organization or State Association with a professional workshop or course - call us at 313 884-8920 to arrange PTManager encourages participation in your professional association. Join and participate now! Quote Link to comment Share on other sites More sharing options...
Guest guest Posted February 28, 2005 Report Share Posted February 28, 2005 Hello , that is a good subject in terms of adding a partner by purchasing a shire as per the value of the business , but if u hire him as a independent contractor with high dollar amount closer to a k1 amount at the year end will be a good idea too , the advantage is you are risk free for the following areas 1. if he is not a hand worker you can replace him 2. 100% ownership is still safe in your hand 3. independent contractor will pay his taxes when u issue a 1099. Thanks Tom Mathew Med Rehab Services inc. MI Zerr wrote: Hello group. Are any of you devoloping " P.T. " partnerships for a business structure? What are the pro's and con's? Do you ask for a cash buy in or earn ownership as the years build up? I have expanded and want to add partners to help run another clinic. I think that if the person has an invested interest than they will work harder to build the practice. Your thoughts are very much welcom. Zerr, P.T. www.summitpt.com Looking to start your own Practice? Visit www.InHomeRehab.com. Bring PTManager to your organization or State Association with a professional workshop or course - call us at 313 884-8920 to arrange PTManager encourages participation in your professional association. Join and participate now! Quote Link to comment Share on other sites More sharing options...
Guest guest Posted March 1, 2005 Report Share Posted March 1, 2005 There is a rather good article on this subject via the link below. This article, written by a Physiatrist, appears in the January edition of " Advance for Directors in Rehabilitation " . While I am not endorsing this publication, I think this article is a worthy read. I would also add that we should be rethinking our arrangements between " practices " and professionals. I say this for a variety of reasons, not the least of which is how these relationships impact upon compliance issues. I feel strongly that strategies (including employment relationships) from the past will not serve us well for the future, which shouldn't surprise any of us. As the great philosopher Yogi Berra once said, " The future ain't what it used to be. " http://rehabilitation-director.advanceweb.com/common/EditorialSearch/printer friendly.aspx?AN=DR_05jan1_drp13.html & AD=01-01-2005 Ken Mailly, PT ACCE, PTA Program Bergen Community College Partner Mailly & Inglett Consulting, LLC Tel. 973 692-0033 Fax 973 633-9557 68 Seneca Trail Wayne, NJ, 07470 www.NJPTAid.biz Bridging the Gap! Re: Partnerships Hello , that is a good subject in terms of adding a partner by purchasing a shire as per the value of the business , but if u hire him as a independent contractor with high dollar amount closer to a k1 amount at the year end will be a good idea too , the advantage is you are risk free for the following areas 1. if he is not a hand worker you can replace him 2. 100% ownership is still safe in your hand 3. independent contractor will pay his taxes when u issue a 1099. Thanks Tom Mathew Med Rehab Services inc. MI Zerr wrote: Hello group. Are any of you devoloping " P.T. " partnerships for a business structure? What are the pro's and con's? Do you ask for a cash buy in or earn ownership as the years build up? I have expanded and want to add partners to help run another clinic. I think that if the person has an invested interest than they will work harder to build the practice. Your thoughts are very much welcom. Zerr, P.T. www.summitpt.com Looking to start your own Practice? Visit www.InHomeRehab.com. Bring PTManager to your organization or State Association with a professional workshop or course - call us at 313 884-8920 to arrange PTManager encourages participation in your professional association. Join and participate now! Quote Link to comment Share on other sites More sharing options...
Guest guest Posted March 1, 2005 Report Share Posted March 1, 2005 There is a rather good article on this subject via the link below. This article, written by a Physiatrist, appears in the January edition of " Advance for Directors in Rehabilitation " . While I am not endorsing this publication, I think this article is a worthy read. I would also add that we should be rethinking our arrangements between " practices " and professionals. I say this for a variety of reasons, not the least of which is how these relationships impact upon compliance issues. I feel strongly that strategies (including employment relationships) from the past will not serve us well for the future, which shouldn't surprise any of us. As the great philosopher Yogi Berra once said, " The future ain't what it used to be. " http://rehabilitation-director.advanceweb.com/common/EditorialSearch/printer friendly.aspx?AN=DR_05jan1_drp13.html & AD=01-01-2005 Ken Mailly, PT ACCE, PTA Program Bergen Community College Partner Mailly & Inglett Consulting, LLC Tel. 973 692-0033 Fax 973 633-9557 68 Seneca Trail Wayne, NJ, 07470 www.NJPTAid.biz Bridging the Gap! Re: Partnerships Hello , that is a good subject in terms of adding a partner by purchasing a shire as per the value of the business , but if u hire him as a independent contractor with high dollar amount closer to a k1 amount at the year end will be a good idea too , the advantage is you are risk free for the following areas 1. if he is not a hand worker you can replace him 2. 100% ownership is still safe in your hand 3. independent contractor will pay his taxes when u issue a 1099. Thanks Tom Mathew Med Rehab Services inc. MI Zerr wrote: Hello group. Are any of you devoloping " P.T. " partnerships for a business structure? What are the pro's and con's? Do you ask for a cash buy in or earn ownership as the years build up? I have expanded and want to add partners to help run another clinic. I think that if the person has an invested interest than they will work harder to build the practice. Your thoughts are very much welcom. Zerr, P.T. www.summitpt.com Looking to start your own Practice? Visit www.InHomeRehab.com. Bring PTManager to your organization or State Association with a professional workshop or course - call us at 313 884-8920 to arrange PTManager encourages participation in your professional association. Join and participate now! Quote Link to comment Share on other sites More sharing options...
Guest guest Posted March 1, 2005 Report Share Posted March 1, 2005 Tom; This doesn't seem to promote " P.T. " ownership.... How do you suggest this to lead to a Partnership entity for example a PLLC? Anyone? Zerr, P.T. > > > Date: 2005/03/01 Tue AM 12:25:56 EST > To: PTManager > Subject: Re: Partnerships > > > > Hello , > > that is a good subject in terms of adding a partner by purchasing a shire as per the value of the business , but if u hire him as a independent contractor with high dollar amount closer to a k1 amount at the year end will be a good idea too , the advantage is you are risk free for the following areas > 1. if he is not a hand worker you can replace him > 2. 100% ownership is still safe in your hand > 3. independent contractor will pay his taxes when u issue a 1099. > > Thanks > > Tom Mathew > Med Rehab Services inc. MI > > Zerr wrote: > > > Hello group. > > Are any of you devoloping " P.T. " partnerships for a business structure? > > What are the pro's and con's? > > Do you ask for a cash buy in or earn ownership as the years build up? > > I have expanded and want to add partners to help run another clinic. I think that if the person has an invested interest than they will work harder to build the practice. > > Your thoughts are very much welcom. > > Zerr, P.T. > www.summitpt.com > > > > > > > > Looking to start your own Practice? > Visit www.InHomeRehab.com. > Bring PTManager to your organization or State Association with a professional workshop or course - call us at 313 884-8920 to arrange > PTManager encourages participation in your professional association. Join and participate now! > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted March 1, 2005 Report Share Posted March 1, 2005 Hello , let me shire my knowledge about the business structure , you may consider to form a inc as a structure and hire good physical therapist as a independent contractor for little more money than market rate with per visit rate or certain percentage rate of billed modality.( let him have the assesabilty to look your billing and insurance payment.) in short the more patient he treat or more modality he use to treat he will be benefit dollar to dollar . the indepent contractor will be happy because he is getting pay as per his productivity.no risk or stress for him to run a business. you will be happy because you have full control in your cooperation and the only thing you have to do is manage all financial and marketing to run your business. Zerr wrote: Tom; This doesn't seem to promote " P.T. " ownership.... How do you suggest this to lead to a Partnership entity for example a PLLC? Anyone? Zerr, P.T. > > From: toms Mathew > Date: 2005/03/01 Tue AM 12:25:56 EST > To: PT Manager > Subject: Re: Partnerships > > > > Hello , > > that is a good subject in terms of adding a partner by purchasing a shire as per the value of the business , but if u hire him as a independent contractor with high dollar amount closer to a k1 amount at the year end will be a good idea too , the advantage is you are risk free for the following areas > 1. if he is not a hand worker you can replace him > 2. 100% ownership is still safe in your hand > 3. independent contractor will pay his taxes when u issue a 1099. > > Thanks > > Tom Mathew > Med Rehab Services inc. MI > > Zerr wrote: > > > Hello group. > > Are any of you devoloping " P.T. " partnerships for a business structure? > > What are the pro's and con's? > > Do you ask for a cash buy in or earn ownership as the years build up? > > I have expanded and want to add partners to help run another clinic. I think that if the person has an invested interest than they will work harder to build the practice. > > Your thoughts are very much welcom. > > Zerr, P.T. > www.summitpt.com > > > > > > > > Looking to start your own Practice? > Visit www.InHomeRehab.com. > Bring PTManager to your organization or State Association with a professional workshop or course - call us at 313 884-8920 to arrange > PTManager encourages participation in your professional association. Join and participate now! > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted March 1, 2005 Report Share Posted March 1, 2005 Hello , let me shire my knowledge about the business structure , you may consider to form a inc as a structure and hire good physical therapist as a independent contractor for little more money than market rate with per visit rate or certain percentage rate of billed modality.( let him have the assesabilty to look your billing and insurance payment.) in short the more patient he treat or more modality he use to treat he will be benefit dollar to dollar . the indepent contractor will be happy because he is getting pay as per his productivity.no risk or stress for him to run a business. you will be happy because you have full control in your cooperation and the only thing you have to do is manage all financial and marketing to run your business. Zerr wrote: Tom; This doesn't seem to promote " P.T. " ownership.... How do you suggest this to lead to a Partnership entity for example a PLLC? Anyone? Zerr, P.T. > > From: toms Mathew > Date: 2005/03/01 Tue AM 12:25:56 EST > To: PT Manager > Subject: Re: Partnerships > > > > Hello , > > that is a good subject in terms of adding a partner by purchasing a shire as per the value of the business , but if u hire him as a independent contractor with high dollar amount closer to a k1 amount at the year end will be a good idea too , the advantage is you are risk free for the following areas > 1. if he is not a hand worker you can replace him > 2. 100% ownership is still safe in your hand > 3. independent contractor will pay his taxes when u issue a 1099. > > Thanks > > Tom Mathew > Med Rehab Services inc. MI > > Zerr wrote: > > > Hello group. > > Are any of you devoloping " P.T. " partnerships for a business structure? > > What are the pro's and con's? > > Do you ask for a cash buy in or earn ownership as the years build up? > > I have expanded and want to add partners to help run another clinic. I think that if the person has an invested interest than they will work harder to build the practice. > > Your thoughts are very much welcom. > > Zerr, P.T. > www.summitpt.com > > > > > > > > Looking to start your own Practice? > Visit www.InHomeRehab.com. > Bring PTManager to your organization or State Association with a professional workshop or course - call us at 313 884-8920 to arrange > PTManager encourages participation in your professional association. Join and participate now! > Quote Link to comment Share on other sites More sharing options...
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