Net income from AP / TCM Practise

[Guest guest]

Hi All,

 

I am not trained in business management or accountancy, but here are

a few thoughts on net income from AP / TCM Practice:

 

Net Income = (Gross income) - (Taxes) - (Costs & Overheads).

 

To maximise net income, one must maximise GI, minimise C & O and

minimise taxes.

 

MAXIMISING GROSS INCOME:

GI/week = # of sessions/hour X hours worked/week X session fee

 

Example:

1 session/hour X 25 hours/week X 25$/session = a GI of 625$/week.

One could not live (well) on that in Dublin.

 

4 sessions/hour X 35 hours/week X 40$/session = a GI of 5600$/week

 

Can one be a great practitioner and handle 4 sessions/hour?

 

IMO, yes, if one gets organised, has a central work area with 3-4 private

cubicles off it, and has the clientele.

 

Yes, the first session takes much longer than 20 minutes, but repeat

sessions in that case will take much less time.

 

So the main question is HOW to build up a large cleintele? THAT is

where GOOD CLINICAL RESULTS and shrewd marketing are most

important.

 

IMO, the best marketing / advertisement is by SAFISFIED CLIENTS.

IMO, " word of mouth " brings more clients than other approaches. One

should take time to listen to the clients, educate them in common-sense

TCM princilpes (in which the public has a GREAT interest), discuss

mysticism (sorry, but I believe in Spirit, and MOST of my clients

believe in it also).

 

If is my experience that many people come for an interesting chat and

have acupuncture/massage or other Tx as a bonus to the chat.

 

Talking about AP/ TCM at conventional professional congresses, public

events, a column in the local newsletter, talks to radio / TV programmes,

schools / students / geriatric societies, etc, also keep AP / TCM in the

mind of the public.

 

MINIMISING COSTS & OVERHEADS:

As regards minimising C & O, cut out all unnecessary gadgetry,

expensive couches, glitzy instruments, etc, and employ the minimum of

unproductive co-workers.

 

MINIMISING TAXES:

Our laws allow substantial tax-allowances for necessary overheads,

travel, study, equipment, conferences, etc.

 

Best regards,

Phil

 

PS: I am not in that income league yet. However, when I retire from my

lab job, I will build up my private practice, something along those lines

for humans. I will also visit equine thoroughbred (racing) stables [where

the fee is much more than in humans].