Six Figure Income

Naturopathic Doctors can earn a six-figure income, especially if they own an established and successful practice. During the start-up phase, earnings are much less, and a significant percentage of new doctors close their practice. Earnings depend greatly on location - income in the United States can be higher than in Canada, for example.

Naturopathic Physicians usually have an accredited college degree before starting their training as a Naturopathic Doctor. They have a minimum of 7 years of graduate training before they are ready to practise. Ask yourself: "Is this investment in education and training, which often costs $100,000 or more, worth the time and money?" Find out more online about the accredited colleges offering Naturopathic Programs.

The Association of Accredited Naturopathic Medical Colleges (AANMC) has a good article about the salary that an ND can expect to earn, and corrects some common misconceptions. The AANMC also shares the results of surveys about ND career satisfaction and income satisfaction.

Job Openings

Naturopathic Doctors often do not look for work, but set up their own practice. If you are looking for work as an associate or locum in Canada, job openings are advertised by the BC Naturopathic Association, and also by the Canadian College of Naturopathic Medicine.

Calculating Your Income

What is your income? The following calculation will show you how to estimate what you earn from your practice.

Typically, and very approximately, business expenses are half of your business revenues. So if your revenues are $150,000, your costs will be approximately $75,000 and you will be left with $75,000 before taxes. Then you have to deduct your business taxes and your personal expenses to arrive at your income. Note that these are very rough guidelines, to help you get started on estimating how much you need to earn.

Some Typical Numbers

For the purpose of estimating what you can earn, typically you can expect to see 10 - 15 patients per working day. Set yourself a goal of having 300 active patient files, and plan to see each patient about 4 or 5 times a year. Your income will depend on how much you charge for an initial visit and follow up visits, what products you sell, and what other fees you charge. Note that these are approximate values, to help you estimate. The numbers for an actual pracitce will probably be different.

Don't forget that when you start, you will have very few active patient files, and that it may take you several years to reach your goal.

Balance Brings Success

Balance brings success. Your income depends on how well you wear all Five Hats of a business owner. Each role comes with responsibilities that you are required to manage and master. You cannot delegate these responsibilities. They are a full time job, especially when you are starting your practice. And if you dislike or avoid your responsibilities, your income will suffer.

What if you are not making enough money?

Find ways to increase your revenues and decrease your costs. In other words, you have to work on marketing your products, services and programs (to increase your revenues), and apply your administrative and financial skills (to manage your costs).

Enjoy Your Adventure!

Doctor I. Johnson
Author, Speaker, Consultant