Chiropractic Practice Management- How 3 Small Changes Can Generate Over $17,000 a Month

Chiropractic Practice Management- How 3 Small Changes Can Generate Over $17,000 a Month

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Chiropractic Practice Management- How 3 Small Changes Can Generate Over $17,000 a Month

Welcome this week’s Thrive in Five. I’m Dr. Bob Hoffman for The Master Circle Global, where we build the most successful practices through chiropractic coaching. Today, we’re going to cover another real case study from one of our colleagues who completed the Practice Growth Calculator. And I will show you how easy and how simple it is to rapidly and dramatically grow any practice including yours if you know what to focus on.

Today we’re going to discuss how three small changes generates over $17,000 of income a month. The doctor who completed this actual Practice Growth Calculator, his real first name is Michael. Michael tells us that his practice averages 10 new patients a month with a PVA of 140 and an OVA of $35.70. Now, Michael has a solid practice collecting about $50,000 a month and adjusting about 1,400 visits a month.

So follow me on this. I promise it’s super easy to understand, and it can quickly change and upgrade your thinking on how you look at and how you manage your practice now and forever. My first recommendation is super conservative. It’s improving Michael’s average of 10 new patients a month to 12. That’s right. The equivalent of just one more new patient every other week. My second recommendation from Michael is to improve his OVA from collecting $35.70 to just $40 or just $4.30 more collected per visit on average. Again, very conservative and relatively easy to accomplish. Both of these recommendations are initial steps as of course we can and we should further expand both of these that this statistics and create dramatically more growth for him later down the road.

Now my third recommendation is not challenging, but more challenging than the first two recommendations. I believe Michael has a capacity issue and we need to resolve that rather quickly. Capacity and capacity technology are tools The Master Circle has been teaching and using for decades and hardly anyone else ever mentions it, and it’s very important in every practice, including yours. The reason so few teach it and even less are aware of Capacity is because it’s invisible. If you try to pour nine ounces into an eight ounce cup, you’re going to get spillage. And of course, no doctor ever thinks that they have a capacity issue when I could tell you without a doubt, everyone does.

Michael needs to either add more hours or more days. Remember, he only works three days a week. Or hire more teammates, or work faster, or use better technology to grow and expand his capacity, to grow and expand his practice. With that said, I would recommend that Michael add a fourth day, initially to expand his capacity to see more new patients, have more visits, and therefore make a bigger impact and earn more money. But the long-term answer for Michael and for adding capacity is to hire an associate doctor and properly train him or her so that they can continue growing the practice while Michael has his three-day a week work week, but add capacity for continued growth.

With a PVA of 140, adding just two more new patients a month will manifest into 280 more visits each month. And he, Michael, would have serious spillage if he tried to do that on a regular basis by himself, which is why he needs to add more capacity to handle those 280 extra visits. But those 280 extra visits would bring his practice to 1,680 visits a month. And by increase increasing his OVA to $40, he will now produce a monthly income of $67,200 versus the $50,000 he’s currently collecting. This, of course, is an increase in $17,200 collected a month. The equivalent of over $206,000 additional income a year. Three small changes generating over $17,000 a month and over $206,000 a year.

This is what expert chiropractic coaching does. It focuses you on what is the best and easiest way to get from where you are to where you want your practice to be. It locates the fastest and easiest path to grow and expand. And this is why The Master Circle has had such an amazing track record of rapidly growing any type of chiropractic practice, run by any type of personality regardless of the doctor’s philosophy, clinical skill, business skill, or even location. This is chiropractic coaching at work when done right.

Now, of course, in coaching Michael, we must discuss how and why to expand those new patients, and how and why to grow his OVA and inspire him to add that fourth day of work and eventually follow the time-tested formula that we have pioneered to attract and train an all-star associate. Tap into the Practice Growth Calculator yourself today to discover how easy it is to significantly grow your practice. All you have to do is answer four simple questions and spend less than 60 seconds, and then schedule your private consultation to have a review of what your calculator results reveal about you and your practice.

If you’re on Facebook, all you have to do is type the word calculator into the chat, and it will bring you right to the practice growth calculator, and you will also see the link at the bottom of the screen. Doc, there’s never been an easier time to grow your practice to help as many people as possible. And as a result, make as much money as you want. It is never been easier to gain rapid traction and grow your practice like never before. It’s also never been easier to pinpoint exactly what statistic or what metric or what linchpin to wrap it in sustainable growth is right for you.

If you haven’t completed the calculator, please do it today. And if you’ve completed it, but haven’t scheduled your private consult to review it and learn from it, please schedule that today for yourself. It is at the private consult where the true magic happens for you, where we pinpoint exactly what you need to do to grow your practice like never before. The Practice Growth Calculator and the Practice Growth Calculator Consultation will simplify the process, laser focus you what to focus on for rapid growth, and change your career, and your mindset, and your practice once and for all. I do this for doctors just like you all day, and I’m proud to be an expert chiropractic coach.

Chiropractic Practice Management- How 3 Small Changes Can Generate Over $17,000 a Month

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