How Does Your Clinic
Actually Compare?
Published benchmarks for independent clinic operators across 12 specialties — what healthy margins look like, what revenue per visit is typical for your specialty, and published data on what comparable practices have sold for. Useful whether you're just starting out or comparing a mature practice against the market.
How to Read Clinic Benchmarks
A benchmark is a published range for one number across practices of the same specialty. It shows where a practice sits, not where it should be. The ranges on this page cover the six numbers that operators, accountants and buyers compare most often, shown separately for Canada and the United States.
The six benchmarks
| Benchmark | What it measures | What moves it |
|---|---|---|
| Revenue per visit | Cash collected divided by billable visits | Fee schedule, payer mix, visit length and treatment mix |
| Net margin | Share of revenue left after operating expenses | Staffing model, rent, cost of goods and the owner's clinical role |
| Staff cost | Payroll and clinician pay as a share of revenue | Pay model (salary, split or contractor), utilization and support staff ratio |
| Rent | Occupancy cost as a share of revenue | Local market, space per treatment room and lease terms |
| Revenue per practitioner | Annual revenue per full-time clinician | Utilization, fee levels and scheduling |
| Annual clinic revenue | Total yearly revenue for a single-site independent practice | Number of clinicians, operating hours and market size |
Range, median and where a practice sits
Each benchmark has a low end, a median and a high end. The median is the middle of the published figures, not a target. A practice near the low end of revenue per visit and the high end of revenue per practitioner may simply run shorter, more frequent visits. A figure outside the range is a question to look into, not a verdict on the practice.
The numbers also read together. Staff cost and net margin usually move against each other. A practice with staff cost well below the range often has an owner doing much of the clinical work without a salary, and its margin reads high for the same reason.
Comparing on the same basis
Margin is the benchmark most often compared on the wrong basis. Some published figures count the owner's clinical pay as an expense and some leave it in profit. An owner who treats patients and takes profit instead of a salary will show a higher margin than a practice that pays a clinician for the same work. Before comparing, read the note beside each margin range and put the practice's own figure on the same footing. Revenue works the same way: compare collected revenue with collected-revenue benchmarks, not billed charges.
Canada and the United States
The two markets are shown separately because payer structures differ. In Canada, most physiotherapy, chiropractic, dental, vision and mental health visits are paid through extended health benefits or directly by the patient, with public programs covering specific groups. In the United States, insurance contracts, Medicare and Medicaid set much of the fee schedule for insurance-billed specialties. Med spa and IV therapy run mainly on cash pay in both countries. Canadian staff cost ranges run slightly higher because employer payroll contributions are mandatory. Canadian figures are in CAD.
Benchmarking a practice: a worked example
A Canadian physiotherapy clinic collects $70,000 in a month over 640 visits, with $34,000 in payroll and $6,300 in rent.
Revenue per visit: $70,000 ÷ 640 = $109. The published Canadian range is $80 to $130, with a median of $105.
Staff cost: $34,000 ÷ $70,000 = 48.6%. The range is 45% to 58%, with a median of 51%.
Rent: $6,300 ÷ $70,000 = 9.0%. The range is 7% to 14%, with a median of 10%.
All three figures sit inside the published ranges, with revenue per visit just above the median and staff cost just below it. A different pattern, revenue per visit below the median with staff cost above it, is the combination that usually prompts a closer look at fees and clinician utilization. One month is a starting point, and the same figures read across a full year carry more weight.
How benchmarks vary by practice type
Volume-driven practices (physiotherapy, chiropractic, rehab and allied health, mental health). Revenue per visit sits in a fairly narrow band, so annual revenue depends mainly on visit count and practitioner utilization. Staff cost is the benchmark that moves most between practices.
Case-driven practices (general dentistry, orthodontics, dental specialties). Revenue per visit is several times higher, the equipment base is larger, and margin depends on chair utilization and case mix. Revenue per practitioner and rent per treatment room carry more weight.
Product-driven practices (optometry, audiology, med spa, IV therapy). Devices, eyewear, injectables and infusions add a cost of goods, so margin depends on product mix and supplier terms as well as visit volume.
Benchmarks and practice value
Buyers and lenders use the same numbers when they price a practice. Margin, revenue per practitioner and how much of the revenue depends on the owner all feed the multiple a practice trades at. The Practice Valuation Reference shows how published multiples translate into a value range.
Common questions
What financial benchmarks matter most for an independent clinic?
Independent clinic operators most often compare revenue per visit, net profit margin, staff and labour cost as a share of revenue, rent as a share of revenue, revenue per practitioner, and total annual clinic revenue. Klindeck publishes ranges and medians for each of these across 12 clinic specialties, drawn from published industry research. These are reference ranges, not targets or guarantees, and individual practices vary widely by market, size, staffing model, and payer mix.
How does clinic profitability vary by specialty?
Healthy margin ranges differ meaningfully by specialty because of differences in payer mix, equipment intensity, and staffing models. Klindeck's benchmarks tool shows specialty-specific ranges for physiotherapy, chiropractic, dental, orthodontics, dental specialties, optometry, med spa, mental health, audiology, podiatry, rehab and allied health, and IV therapy. Each specialty panel cites its own published sources. The figures are descriptive reference ranges and are not a substitute for professional financial advice.
What multiple do clinic and practice sales use for valuation?
Practice valuations are commonly expressed as a multiple of EBITDA or seller's discretionary earnings, and the typical multiple range varies by specialty and by the strength of the individual practice. Klindeck's tool shows published floor, mid-market, and premium multiple ranges per specialty alongside the practice characteristics generally associated with each tier. Valuation outputs are educational reference only and are not a formal opinion of value; a qualified business valuator should be consulted for any actual transaction.
Where does Klindeck's benchmark data come from?
Benchmark ranges are compiled from publicly available industry research, professional association reports, government statistical data, and published practice-transaction data. Each specialty panel names its specific sources, and Klindeck's methodology, including how reliability is graded and how often the data is reviewed, is described on its published data methodology page. The data is compiled with AI assistance and individual data points have not been independently verified; material figures should be confirmed with the relevant industry sources.