Chiropractic Practice Management: When Things Are Good But Not Great

Chiropractic Practice Management: When Things Are Good But Not Great

*The following is an actual transcript for Chiropractic Practice Management: When Things Are Good But Not Great. 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: When Things Are Good But Not Great

Hello everybody and welcome to Thrive In Five. I’m Dr. Dennis Perman and I’ll be your chiropractic coach for the day. The subject matter of this Thrive In Five is when things are good but not great. Many doctors are skillful at creating something that vaguely resembles what they really want, but doesn’t really hit the high note for them. So today, we’re going to be exploring Dr. Heather. Let’s take a look at the first slide and see what Dr. Heather is doing.

You can see that she works two and a half days a week. She attracts eight new patients a month. She sees 105 office visits per week, and she collects $18,500 per month. So on the next slide, we can see that since she’s only working 10 days a month, she sees 42 people a day and she sees them therefore, 420 visits a month and that’s pretty good. Now, because she attracts eight new patients, you can see that her PVA, the number of times an average patient comes in is 52.5. That’s also pretty good. You can see if she collects $18,500 on 420 visits, that she’s actually collecting $44 a visit. So we’ll talk about that in a little while.

The case average, the PVA times the OVA is 2300 and our total annual income is $221,000. Now, she desires to grow 50% or more, and you can see she considers herself a great educator, which she seems to be, with a nice, substantial PVA. Now on the next slide, we can see that if she wants to grow 50%, well certainly she can increase her new patient flow from eight to 12. Certainly she can increase her office visits per month from 420 to 630. She can increase her PVA from 52 to 78, or she could increase her OVA from 44 to 66.

Now, these are pretty substantial movements. So what makes sense is for us to take a look at what the simplest way might be for her to be able to get 50% growth and that’s on the next slide.

You see, working only 10 days a month, she could easily increase the 15 days a month, and that would give her the capacity to be able to grow 50%. Now, she may have a reason why she only works two and a half days a week and if that’s true, then we have to look to one of these other options. If she’s going to see that many more people per day, from 42 to 53 a day, she’s going to have to look at her capacity or she could hire associate doctors. This particular practice does have associate doctors, so the best route for her to get 50% growth would be for her to move from 420 office visits a month to 630 office visits a month.

She could do that by increasing her PVA from 52 to 78, she could do it by increasing her office visits per day from 42 to 53, or if she wanted to see the same number of people but just make 50% more money, she would have to find a way to increase her OVA by $22 from 44 to 66. So she could implement some backend item, like brain tap or nutrition, or she could just raise her fees. Now, the point is, there are many ways to increase your practice by 50% or more.

It’s important for each of us to understand, that because there’s more than one right answer, everybody needs a personalized approach. That’s why Dr. Bob and I are offering, for those doctors who will fill out the practice growth calculator, we’re offering a personalized one time, no obligation opportunity to spend a little bit of time with us analyzing exactly what the practice growth calculator tells us.

This is designed so that with no cost or obligation on your part, you can learn what some of the cutting-edge techniques might be in order to help you grow your practice, the way you really want to. Now, it’s our pleasure to serve you, but in order for us to serve you, you must engage. So if you’re on Facebook, you can type the word calculator into the comments and you’ll get back a link that you can click on and fill out the practice growth calculator. It takes about 30 seconds and it takes no additional research on your part. They’re all numbers, the four numbers you already know. The number of days you work, the number of new patients you get, number of visits you see per day, et cetera. Or you could just take the link at the bottom of this screen, and you could copy paste it into your browser and that’ll take you right to the practice growth calculator.

Listen, there’s a lot of people out there in your community that desperately need you, and we have to do whatever it takes to reach them so that they can experience the miraculous healing and wellness benefits that chiropractic is famous for. Thank you so much for listening. This is Dr. Dennis Perman, signing off for Thrive In Five for today.

Checkout our other Thrive In Fives

Don’t forget to learn about our Practice Growth Calculator

Click The Image Below and Stop Guessing About Your Practice Growth