You’re Billing $300K and Still Broke? Here’s Why…

This one’s for all the physical therapists, occupational therapists, speech therapists — and any future therapists still sipping the “I’m gonna be rich out of school” Kool-Aid.

Let’s do a reality check.

Because the way some of y’all are acting online right now? It’s embarrassing.

And I’m not even mad. I just think most of you truly don’t understand how the game works.

So let me give you the crash course your school should’ve given you during Week 1 — before you signed up for six figures in debt and a compensation model you clearly don’t get.

First things first: If you’re going to school to become a therapist…

You’ve already decided you’re going to be an employee.

Cool. No shame in that.

But if you’re gonna choose that path, you better understand the rules of the employee game. Especially how compensation actually works.

And no — just because you bill $300K a year doesn’t mean your clinic is collecting $300K.

That’s not how insurance works. That’s not how contracts work. That’s not how business works.

Let me break it down like this:

My car window cracked. Here’s what that has to do with your paycheck.

A few weeks ago, I’m driving up through Atlanta and crack — a rock smashes into the rear side window of my car.

So I call State Farm. They say it’ll be $1,000 to replace it.

But since I have State Farm, I get the State Farm rate: $261.

Now follow me here…

The full price was $1,000.
But they only paid $261.
Because that’s the contracted rate.

That’s how insurance works.

You don’t get paid based on what you bill, you get paid based on what was contracted.

So when a clinic bills $300,000 for the services you provide?
They might collect $150,000.
And they might pay you $105,000.

Which means they’re making $45K — to run the business, keep the lights on, cover rent, EMR, insurance, admin, marketing, and still try to profit.

And you’re mad about that?

You're not underpaid. You just don’t understand the model.

If you want to be a business owner, act like one.

But if you’re gonna be an employee, understand your lane.

It’s not just about how much you bill. It’s about how much actually gets collected, and what it takes to keep that clinic running.

And here’s where it gets wild…

A lot of y’all are out here on TikTok and Instagram talking loud, acting entitled, demanding raises, saying you’re worth six figures out the gate — and you’re BROKE.

Listen, if you’re gonna pop off, at least have the bank account to back it up.

Or better yet — LEARN how the game is played, then beat it.

No one forced you into this. Own your decisions.

Nobody put a gun to your head and said you have to go to PT school.
Nobody said you had to take on $150K in loans.

But the truth is… the title was your idol.
And that’s why you’re frustrated now.

You thought the title would make you money.
But the title without a business model is just a liability.

So if you’re pissed?
Good.
Use it.

Let it wake you up.

Let it push you to actually understand how to get paid in this industry.

So here’s what I want you to do:

If this hit you in the gut — good. That means you’re ready to grow.

Now do this:

1. Share this with someone in therapy school. Help them avoid the mistake.

2. Post it in your student group chat, your alumni page, wherever.

3. Tag someone who needs this tough love.

Let’s stop letting good therapists get wrecked by a system they never understood in the first place.

We can’t fix the game if we don’t understand the rules.

Much Love,
Greg Todd

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