How to Know If You Can Afford to Hire with Greg Crabtree

The pandemic has presented various challenges to medical practitioners, particularly the issue of payroll and overhead costs. With funds from PPP, EIDL, and HHS grants running out, and insurance companies not raising reimbursable rates, chiropractors are struggling to stay afloat.

In this episode, I interview Greg Crabtree, a practicing CPA and partner in one of the top 20 national firms in the US.

Greg shares his experience as a consultant and speaker to entrepreneurs worldwide, discussing his two books on the concept of "simple numbers." He emphasizes the importance of creating capital through profit and retention and guiding businesses to plan accordingly.

We also tackle the following topics, but not limited to:

·         What it looks like to have a well-capitalized business

·         How much is too much overall labor costs in your practice. What is potentially too little.

·         What percentage of profits should you aim for each year.

·         How to know if you can afford to hire team members.

·         Making accurate financial decisions in your business for optimal growth.

 

We discuss how to determine when overhead is getting too high due to payroll and if medical practitioners can afford to hire more staff. The concept of labor efficiency rates (LER) in chiropractic practices is discussed as well.

To find out more about Greg Crabtree you can find more at simplenumbers.me or greg.crabtree@cricpa.com


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About the author, Kevin

Dr. Kevin Christie is a Chiropractic Physician and Certified Ergonomic Assessments Specialist (CEAS II) who dedicates himself to treating his patients’ symptoms and physical dysfunctions, whether it’s a professional athlete, a weekend golfer, or an office worker. 

Dr. Christie received his B.S. degree from the Florida State University in Exercise Physiology and was an assistant strength & conditioning coach for FSU athletics. His education and desire for learning continued at Logan College of Chiropractic in St. Louis where he received his Doctor of Chiropractic and Masters In Human Biology degrees. 

Dr. Christie is currently the CEO of Health-Fit Corporate Wellness which provides On-Site Chiropractic and Ergonomics for corporations such as Royal Caribbean, ADT Security, Tyco Integrated Systems, World Fuel Services, Strategic Coach, Frito-Lay, and others. 

In 2016 he launched The Modern Desk Jockey Podcast, which provides healthy solutions for the desk worker. 

Dr. Christie has been the Chiropractic/Sports Medicine Physician for multiple football academies in South Florida. He is currently the Sports Chiropractor for XPE Combine Prep Program in Boca Raton, FL. This role includes treating the college football players during the NFL Combine Prep Program and the NFL Combine in Indianapolis. He also has worked on over 500 NFL, MLB and NHL players for these strength & conditioning companies during their off-season Pro NFL/MLB programs.

In November 2009, Dr. Christie was appointed by Governor Charlie Crist to the Board of Athletic Trainers as the Chiropractic advisor. This appointment is through the year 2017 and will include working with and advising the Board of Athletic Trainers on maintaining and improving the quality of care for Certified Athletic Trainers in the state of Florida.

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