One of the main determinants of your financial situation in a group practice is whether you’re a 1099 contractor or a W-2 employee. This usually determines whether benefits are offered, which can significantly affect your overall compensation.
There are several ways in which pay can be provided. This is usually either through a salary (applicable to W-2 employees only), a set hourly rate, or a percentage-based fee split per therapy session (usually 60% to 85% for the therapist, but rates can vary). Some practices only pay for clinical sessions, while others also compensate for administrative time. A rental model is also used in some cases, where therapists pay a group practice a set fee for office space with less administrative support, but then keep 100% of their session revenue.
One other payment determinant is the amount of insurance companies the group practice panels with — and the reimbursement rates they pay for each session. This is particularly important for fee-split structures because differences in the reimbursement rate per session can have a significant impact on your income. It's crucial to learn about the pay structure before accepting a position so you can get a detailed picture of what your income would be.