Knowing Your Break Even Point is Essential

It might come as a surprise that one of the best ways to drive profits in your business is to focus on your break even point – the point where you are making enough to cover costs and make a profit.

It’s hard to tell how well your practitioners are going in terms of their financial contribution to the business unless you can calculate how much they bill a per week or month compared to how much you pay them.

In this video, Troy Parsons explains how a practice that hired a new graduate podiatrist calculated that it was better to

• hire the new grad full-time
• cover his cost (seeing and average 4 patients per day) and
• assign the new grad to shadow a senior practitioner to rapidly upskill during their free time – the time they weren’t seeing patients themselves

In a practice I was checking in with recently, they’d recently hired a new podiatrist. When I checked in with them and asked how the new recruit was going and how much he was billing… they said they ‘don’t know’ .

Let’s call this new podiatrist James. In his 2^nd week working 3 days – James billed £550.

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