How Do I Pay My Med Spa Providers and Staff Legally?
In today’s blog post, we would like to discuss the importance of proper med spa payment. Business owners should always pay for performance that way they can maximize their earning potential. In retail, salespeople are normally motivated with commission. However, doing this in a medical practice is called fee-splitting and is illegal.
If you are an American Spa member, then you can check your state’s legal summary to see if they observe the corporate practice of medicine. If physicians are found engaged in fee-splitting, they could face suspension of their license, revocation of their license, or even a fine. The staff member who participates in fee-splitting will also receive a fine.
Keep in mind, there are other ways to offer employees extra money, such as bonuses. This is typically known as the medical spa compensation plan in the American Spa store. An exception for fee-splitting includes Groupon or Living Social. This is because it represents a spike in business that represents a form of fee-splitting. This is because medical spa vouchers are sold through these services.
Ready to get started and ignite your aesthetic practice’s growth?Schedule Free Consult
About Shorr Solutions:
Shorr Solutions is an award-winning practice management consulting company with offices in South and Central Florida. We work with aesthetic medical practices in all 50 states of the U.S. to help them strengthen the operational, financial, and administrative health of their business. With decades of industry experience, our father-daughter partners, Jay Shorr and Mara Shorr, lead our knowledgeable team of experts to assist practices in the aesthetic medical fields increase efficiency, increase revenue, and decrease their costs.
We let you focus on what you LOVE to do: practice medicine.Learn About Our Services