The Hybrid System: A Smarter Way to Reward Practitioners
Let’s face it – practitioners work hard. But when it comes to remuneration, a simple salary just doesn’t cut it if you’re looking to motivate your team and reward them for all that hustle.
Troy Parsons, the owner and director of Optimized Health, shares the story of how the hybrid remuneration system came to life and why it’s been an essential part of their success for over two decades.
From Salary to the Hybrid Model: The Evolution
The concept of the hybrid remuneration system at Optimized Health was born from Troy’s early experience in the practice. When he first started, Troy was on a salary. As time went on and his career progressed, he realized that simply being on a salary wasn’t enough. To earn more, he knew he needed to expand his knowledge and skills, so he pursued his master’s in Adelaide.
As Troy got better at what he did, he also wanted to get better paid. During discussions with his boss, he realized that remuneration could be tied directly to the level of care practitioners provided. The better they looked after their patients, the more they could earn.
This led to the creation of a model where practitioners received a base wage, complemented by a percentage of the revenue they generated from their work with patients. This structure allowed for both financial stability and motivation to perform at a higher level.
A Model That’s Been Winning for Over 20 Years
Since then, the hybrid model has been in place at Optimized Health, with every team member hired on this system. Even the second practitioner hired under the system is still with the practice, celebrating 19 years and approaching a 20-year milestone!
The hybrid model is simple but effective. It provides a base wage for certainty and stability but also offers a percentage-based incentive tied to the practitioner’s productivity. When a practitioner’s revenue grows as a result of their hard work and patient care, their wage grows accordingly.
The Hybrid System Puts The Practitioner in the Driver’s Seat
The beauty of the hybrid system is that it puts control in the hands of the practitioners. Instead of waiting for annual pay rise discussions, practitioners are empowered to increase their earnings by delivering high-quality care and achieving positive outcomes for their patients. When patients are happy with their care, they’re more likely to leave positive reviews and refer others, directly increasing the practitioner’s revenue.
As Troy explains, this system also fosters a sense of ownership. Each practitioner can determine their financial future through their efforts. They know that if they work hard and focus on patient care, they will see a direct result in their pay.
A Holistic Approach to Team and Patient Care
The hybrid model also aligns with Troy’s core belief that healthcare is a people business. Whether it’s physiotherapy, osteopathy, or any other form of care, it all comes down to looking after people. Troy emphasizes that by focusing on team happiness and well-being, the practice ensures that patients receive exceptional care.
By ensuring that team members are well-compensated and motivated, the practice not only fosters a positive internal culture but also ensures that patients are cared for in the best possible way.
The hybrid remuneration system is a robust and flexible way to align the goals of both practitioners and the practice as a whole. While some might consider contractor-based models or other payment structures, Troy believes the hybrid model is the best approach because it creates a team-oriented culture. It encourages collaboration, results, and long-term loyalty, ensuring that the practice thrives.
Ultimately, the hybrid remuneration system at Optimized Health isn’t just about compensation – it’s about creating a work environment where practitioners are motivated to deliver the best outcomes for patients, and in return, everyone benefits.
