Dr Gibbons started her practice in 2016 with a deep rooted desire to make the world better. She assembled an amazing team to push his mission forward. But, somewhere amidst the cacophony of advice in online forums, she created compensation models that wouldn't result in profit for the company. Simply put, she was overpaying. After factoring in overhead, taxes and recurring expenses, every session actually resulted in a loss. On top of this, the clinicians weren't meeting their required minimums which only made the problem worse. As the business grew, so too did the financial loss. She compensated for this shortfall by building her own caseload surpassing 30 sessions per week. Soon, burnout was around the corner. And it came hard.
Around the time she considered just closing shop, she hired Healthy Coin. Healthy Coin remapped the compensation model in a way that did three things: 1) paid all clinicians fair market value for their level of expertise 2) motivated clinicians to be efficient, thorough and manage their requirements and 3) resulted in a 35% profit margin for the owner. During our engagement, revenue has grown 410%, the profit is north of $260K and the Dr. Gibbons' case load is 8 sessions per week.
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