How much does providing supervision cost your practice?
Are you caught in the trap of offering "free" supervision to your registrars? While it might seem like a logical choice initially, there are significant financial, ethical, and operational considerations to take into account.
Free is not really free
When you offer "free" supervision, it's crucial to recognise that it's not truly free.
Let’s break it down.
The total cost for just one registrar could range from $25,000 to $30,000. Curious about how much this could be impacting YOUR practice? Use our free calculator to find out!
Let’s break it down.
Many organisations bundle CPD and supervision into their recruitment packages for registrars.
It appears cost-effective on the surface, but have you calculated what this actually costs you?
Offering free supervision only seems cost-free if your time has no value. Have you ever noticed the mounting tasks that never get done, the unpaid bills, outdated software you can’t find time to replace, or that webinar idea still waiting to generate passive income?
Imagine this scenario (assumes an hourly rate of $250 per hour):
It appears cost-effective on the surface, but have you calculated what this actually costs you?
Offering free supervision only seems cost-free if your time has no value. Have you ever noticed the mounting tasks that never get done, the unpaid bills, outdated software you can’t find time to replace, or that webinar idea still waiting to generate passive income?
Imagine this scenario (assumes an hourly rate of $250 per hour):
- 80 hours of lost income from your supervisor = $20,000
- Two years of CPD budget ranging from $2,000 to $8,000
- Supervision at a discounted rate of 60% still totals $12,000
The total cost for just one registrar could range from $25,000 to $30,000. Curious about how much this could be impacting YOUR practice? Use our free calculator to find out!