Chiropractic Practice Management: Cracking into Seven Figures

Chiropractic Practice Management: Cracking into Seven Figures

*The following is an actual transcript for Chiropractic Practice Management: Cracking into Seven Figures. We do our best to make sure the transcript is as accurate as possible, however, it may contain spelling or grammatical errors.*

Chiropractic Practice Management: Cracking into Seven Figures

Hello everybody, and welcome to Thrive In Five I’m Dr. Dennis Perman, and I’ll be your chiropractic coach for today. Our subject matter is cracking the seventh figure, going from great to world class. Now, I understand that there’s many listeners who are quite a bit away from the seventh figure. I understand that. But what I learned from Tony Robbins many years ago is that we tend to overestimate what we can do in a year, but underestimate what we can do in a decade.

I’m suggesting to you that over time, you can create a substantial world class practice and today’s material is to show you three different pathways to get there. Our subject for today is Dr. Tom. Dr. Tom works six days a week. He starts about 30 new patients a month. He’s got 275 office visits a week and collect $70,000 a month. I think you would admit a substantial practice.

Now, this means that he’s seeing about 46 people a day and he is seeing 1,150 office visits. So his PVA, his average number of visits per patient is 38. The 70,000 divided by 1,150 visits means he’s collecting $61 a visit. So that means that if you multiply his PVA, times his OVA, his case average is 2300 and his annual income is 840,000 and he wants to grow about 20%, he says he’s highly motivated.

Well, let’s see how he could grow that 20%. Slide three tells us that if he wants, he could increase his new patient flow from 30 to 36, that’s just one to two new patients more per week. And that would increase his office visits per day from 46 to 57, an increase of 11. This means that he would be increasing his office visits based on his number of days worked, 218 visits to 1,368 office visits.

In this example, he doesn’t need to grow his PVA, he doesn’t need to grow his OVA, he doesn’t need to grow his case average. He just needs six more new patients, and that would accomplish his 20% growth and take him to a million bucks.

Now the next slide gives us another example of how he would also grow to about a million dollars. He could increase his OVA, the amount of money he collects per office visit from 61 to 72. Now the 38 PVA that he already has established times the new OVA of $72 means that he would be increasing his case average to about 2,700 plus dollars. Now, this is a way of growing to a million without adding a single new patient or increasing his volume at all. He’s just charging more for what he does or adding back end items.

Now, the third example is where he increases his PVA from 38 to 45, a 45.5 PVA times 61 bucks would be again, a $2,700 case average. And in this case, he would be increasing to about a million dollars without adding a single new patient. Now, what’s important about this presentation is for you to realize that there’s always at least three intervention points that could grow your practice. You can add more new patients, you can add OVA, more dollars per visit, or you can add PVA, more visits per volume. Then he can just do it with fee.

If he doesn’t mind increasing his volume, just 11 visits a day. And that would be something like five more people in the morning and six more in the afternoon, not a tremendous amount more, but it gives him the opportunity of seeing a few more new people, keeping his fee structure where it is, but still getting to that 20% growth, that million dollar mark.

This is the kind of material that we cover, not only in our practice growth calculator, but in our seminars, we just had our sold out SuperConference seminar. It was an extraordinary event. We missed you if you weren’t there, but if you want to find out more about how you can enjoy our seminars, we’ve got one coming up in this spring and you can go to our website. That would be www.themastercircle.com.

Now, if you don’t want to wait to start your growth for the next seminar, then you can pay attention to our practice growth calculator. This is the model or the mechanism single day in coaching our members. And you can participate by just simply clicking on the link below, tmc.bz/9po. Or you can just copy paste it into your browser, or just write it down and type it into your browser. It will take you right to the practice growth calculator, and you’ll be able to use that practice growth calculator to plug in the simplest statistics that you just saw me plugging in. How many days a week do you work? You know that. How many people a month do you start? You know that. How many visits do you see a day? You know that. How many dollars do you collect per month? You know that.

And with those very simple, basic information, we can figure out for you exactly what you need to do in order to grow your practice, the amount that you want to grow it. It’s an extraordinary model, we do this to serve the profession. And if you can use the practice growth calculator in order to find out what you need to know, then by all means, please do. And by the way, if you do click on the practice growth calculator at this time, you’ll get at absolutely no charge, a copy of our practice unmasking journal with articles from our SuperConference.

This is designed so that you will have everything you need in order to be able to start to grow your practice, whether you’re aiming at a seven figure practice or not. Our purpose is to help you grow, help more people and make a bigger difference in your community, while you also have something more to show for yourself. It’s a wonderful model, it’s our pleasure to serve you. And I hope we get the chance to engage you before too very long.

This is Dr. Dennis Perman, signing off for the Master Circle Global.

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