Dynamic Chiropractic Canada – March 1, 2015, Vol. 08, Issue 03

Face Off: Practice Management

By Editorial Staff

Face Off offers you the opportunity to learn more about products / services you may be considering for your practice side-by-side so you can make an informed purchasing decision. This month's product category is practice management.

This Month's Questions

  1. Why do DCs need help with their practices?
  2. What makes your services unique from others on the market?
  3. What results can a client expect and how long will it take?
  4. What is the cost and terms?

Chiropractic Business Academy - Copyright – Stock Photo / Register Mark Chiropractic Business Academy
Years Active: 28

1. Most chiropractors we meet have been exposed to frighteningly ineffective business practices and marketing procedures. We take massive responsibility to guarantee that our clients expand ... simply because our marketing and business processes work. The CBA model of business fits any chiropractic technique, philosophy and approach.

2. The CBA is a coaching program that is carefully designed as an apprenticeship program in being an effective entrepreneur / business owner, rather than a busy clinic owner. Our individualized program evaluates the current state (good and bad) of your "business" processes, as well as all of your past and existing marketing strategies. Our team crafts a tailored program to quickly stabilize your practice to handle more new patients, more care-plan starts – then mentor you on developing staff who take the load off of you. CBA is known as the only chiropractic program that effectively teaches you how to work more on your business, rather than sweating more in your business.

3. Our program includes the most effective chiropractic marketing to date. Our clients see more new patients and have more new-patient starts than any of our competition ... usually within their first 90 days. Simply speak to any of our clients and ask what is different about CBA compared to anything they have done in practice management before ... we are different! Our business modeling and always-evolving chiropractic marketing positions your practice as the dominant one in your area. Our clients are the top 3 percent of the profession for new patients, starts and overall practice collections.

4. CBA products / services begin at $375. The coaching / mentoring programs include flexible terms and no-interest financing options. CBA has an iron-clad Practice Growth Guarantee – you have nothing to lose and everything to gain!

Practice Wealth - Copyright – Stock Photo / Register Mark Practice Wealth
Years Active: 20

1. "Obamacare" will most likely get rid of most insurance for chiropractic, but here's a little secret: If a doctor knows exactly how to market their practice, the economy and a loss of insurance benefits won't matter. Unfortunately, there are thousands of doctors in our profession who need help with their practices. They know how to treat patients, but their business savvy doesn't match their practice acumen. They are not taught the business and marketing side of being a business person, and that's a travesty.

2. Dr. Erich, as he is known, has had one of the busiest practices in California, seeing over 1,000 patients a week. He has 24 years of hands-on experience running a busy practice and has been working with over 7,800 doctors worldwide in the past 20 years, helping them build bigger practices. At Practice Wealth, we keep it very simple, specializing in three things: help doctors see more patients, work less hours and make more money.

3. Many doctors double their income in 3-6 months, depending on the level of coaching they choose. Some invest in the Practice Wealth System, which comes with basic-level coaching; more aggressive, hungry doctors quickly upgrade to our personalized coaching. You either follow the group and do what everyone else is doing, which usually gets you no results; or you close your eyes, hope for the best, and wing it. Either of those choices is a recipe for disaster financially.
You also know there are no guarantees with health care. Same with coaching. If a doctor is struggling and just can't seem to make the money they want to make for the least amount of money and time spent at the office, they need to do three things.

4. Be accountable, be persistent – and implement like there is no tomorrow. The cost starts at $297/month.

5 Star Management - Copyright – Stock Photo / Register Mark 5 Star Management
Years Active: 28

1. Sadly, being a great chiropractor doesn't guarantee a successful practice. Most chiropractors struggle with the business side because they've never received training in the three most important areas that hurt all small businesses:

  • Marketing
  • Staff development, including associates
  • Growing the business

Test my thesis: How much better off would you be if you had lots of new patients, great CAs, one or more top-notch associates and smooth running systems? I rest my case. A great coach will train and support you in these areas and more.

2. I had a super practice: 500-plus visits a week. It ran as smooth as silk. But a nasty ski accident ended my practice days forever. In order to survive, I threw myself into developing three critical areas of practice success:

  • New patient marketing
  • Smooth-running and scalable practice systems, including staff development
  • Developing top-producing associates

My career-ending injury was actually a blessing in disguise, turning my 500 visits a week into 2,000-plus visits a week; my one clinic into five (eventually 10); and 10 days off a year into 12 weeks off a year.

Every system, tool and procedure in Five Star has been tested in my own clinic system and has been proven to work with every personality type.

3. Our average first-year client increases their revenue by $100,000 through better marketing and low-stress practice systems that make practice fun again.

4. People buy Five Star for $800 a month for a year.

Breakthrough Coaching - Copyright – Stock Photo / Register Mark Breakthrough Coaching
Years Active: 20

1. The rules of running a chiropractic practice have changed and will continue to change at a pace that outstrips your ability to keep up. Reimbursement and compliance rules are changing at lightning speed. Your coach should simplify the business of running
your practice so you can do what you love most: care for patients.

2. Your coach must be familiar with the practice of chiropractic today; not 10, 20 or 30 years ago. Times have changed and what used to work in the past just doesn't work anymore. There must be a fit between your practice philosophy and that of your coach. When it comes to fees, choose a coach who offers a flat rate and avoids percentage agreements.

3. The right coach functions with ethics and integrity, and has a commitment to your success and the success of the chiropractic profession. Success is a system, not a personality trait, and you can learn to become a success. The velocity of the achievement of your goals is directly proportional to your willingness to commit to take action, be held accountable, and follow the advice that your coach provides you with.

4. Breakthrough Coaching provides a customized approach that extends from full-service front- and back-office coaching on an annual basis to targeted coaching on a three-month basis for your practice's highest priority areas. We provide students and new graduates with terms that make coaching affordable for every practice. All doctors of chiropractic can attend the Breakthrough Coaching seminar of their choice at no charge to experience our program. We also offer a free test-drive coaching session to all DCs with no obligation.

Life Benefits - Copyright – Stock Photo / Register Mark Life Benefits
Years Active: 8

1. What if everything you've learned about creating true wealth as a doctor of chiropractic was wrong? I'm Tom McFie, DC, the founder of Life Benefits, and I believe the odds of growing wealthy in chiropractic are outrageously stacked against you.
Having owned four profitable practices and looking to add more, I believed I was ahead of schedule in achieving the "DC American Dream." In the midst of it all, I discovered a flaw; a flaw so colossal it triggered me to walk away from everything I had built. Peers and extended family members thought I had lost my mind. You see, I've come to know something most won't.

2. I've often shared in Dynamic Chiropractic that most DCs are following an outdated model that no longer works today. It actually works against you, making it harder to create long-term wealth. As chiropractors, we understand that everyone is unique and their care plan should be, too. This same thinking applies to creating a wealth plan.

3.At ChiroFest, I shared with the audience that I don't believe in get-rich-quick strategies. If you ever hear those words, my advice is: run.
I can tell you our clients are taking wonderful family vacations, funding college education, buying new cars, paying off student loans, buying digital X-rays, and buying office buildings and new homes.

4. This is a loaded question. When asked this as a chiropractor, I never could tell my patients how much it was going to cost before an evaluation, because I didn't know. Creating a plan for wealth works the same way. It all starts here: evaluation.life-benefits.com, with a no-obligation evaluation.

New Patient Academy - Copyright – Stock Photo / Register Mark New Patient Academy
Years Active: 4

1. Not enough new patients hurts more chiropractors than anything else, but that's no great mystery: We were never trained in how to market chiropractic. Get new patients wrong and you always struggle. Get new patients right and you'll succeed. It's just that simple. That's why the most important staff position in your office is a marketing CA.

2. The New Patient Academy is unique because it builds successful marketing CAs seven ways:

  • Because of a career-ending injury, I had to develop great new-patient marketing for my associates or close my practice. I succeeded by hiring and training marketing CAs to bring in hundreds of new patients without me being there.
  • I discovered a seven-step hiring system for picking the people who are genetically and temperamentally predisposed to do marketing; we give that system to clients.
  • We templated every facet of the marketing CA's job to produce new patients, and we train your CA on exactly how to do that successful template.
  • We train four ways: live in-person, live phone, live webinar and our digital library of training videos.
  • We also provide a real marketing CA to coach your marketing CA one on one.
  • After we get your marketing CA, they report to our marketing coach for feedback – every day they work. That takes just four minutes a day.
  • We send you a report card on every facet of your marketing CA's work and call you if there are any problems.

3. An NPA client can expect new patients in the first month and an average of 3-5 extra new patients a week.

4. The NPA program can be purchased for $595 a month for a year.

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