Associate share of production

Definition

The share of visits licensed associates deliver, against the caseload the selling owner treats personally.

Why It Matters

A clinic where the owner personally generates most visits is buying that person a job, and one where associates carry the caseload transfers cleanly and is worth more. Measure it as visits or units by treating therapist over the trailing year, then read what holds the associates: pay against market, tenure, and whether the non-compete is enforceable in that state. Model debt service on earnings net of a market salary for the therapist who replaces the owner's production, because the multiple only holds if the production does.