Defining Your Total People Expense
Episode description
In this episode of the Private Practice Survival Guide, we discuss how to calculate and manage your Total People Expense (TPE) to ensure your private practice remains financially healthy and operationally efficient. We break down all the components that make up TPE—including wages, benefits, taxes, software costs, and compliance-related expenses—and how these costs directly impact your revenue. The episode also highlights best practices for keeping your TPE within a healthy percentage of gross revenue while still offering competitive compensation and benefits. Understanding TPE is essential for making informed hiring decisions and optimizing profitability.
Welcome to Private Practice Survival Guide Podcast hosted by Brandon Seigel! Brandon Seigel, President of Wellness Works Management Partners, is an internationally known private practice consultant with over fifteen years of executive leadership experience. Seigel's book "The Private Practice Survival Guide" takes private practice entrepreneurs on a journey to unlocking key strategies for surviving―and thriving―in today’s business environment. Now Brandon Seigel goes beyond the book and brings the same great tips, tricks, and anecdotes to improve your private practice in this companion podcast.
Get In Touch With Me
Podcast Website: https://www.privatepracticesurvivalguide.com/
LinkedIn: https://www.linkedin.com/in/brandonseigel/
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https://wellnessworksmedicalbilling.com/
Private Practice Survival Guide Book