More Profit Less Work – the best in Chiropractic Coaching.
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More Profit Less Work – the best in Chiropractic Coaching
Hello everybody and welcome to Thrive In Five. I’m Dr. Dennis Perman and I’ll be your chiropractic coach for today for More Profit Less Work – the best in Chiropractic Coaching. Our subject matter asks the question, could you be more profitable? And I want to start with the story of the dumb guy who bought 500 watermelons for 500 bucks and put up a sign by the road saying is a dollar. Well, his friend says, “Dumb guy, how do you make any money?” And then dumb guy says, “Well, volume, of course.” You see, it’s not how much you make, it’s how much you keep and what you do has to be profitable so that you get something to keep. So, today we’re going to talk about Dr. Susan, who filled out The Practice Growth Calculator, and she sees 10 new patients a month in four days a week that she works. She sees about a hundred people a week and makes about $20,000.
So you can see that, you do the math real simple, she’s seeing 400 people a month. So $20,000, she’s making about 50 bucks a visit. 400 visits on 10 new patients. She’s got about a 40 PVA. So let’s take a look at the next slide. She wants to grow 50%. And she says she has great people skills, so she wants to capitalize on that. Now you can see that if she is seeing each patient 40 times and wants to grow 50%, then we could grow her PVA and she’d be able to see more people. Or if she has 10 new patients, we could go ahead and increase that by 50%, and she would be able to see 50% more people. So you can see that if she increases her new patients, five a month to 15, she’s going to go to a $120,000, she’s going to make that extra 50% of money, she’s going to be very happy to go from 240,000 to 360,000, but the problem is, she’d have to see 600 office visits. And you know what, it’s not like Dr. Susan is lazy, but she doesn’t want to see 600 office visits.
Let’s take a look at the next slide. Or she could grow her PVA from 40 to 60 and she would be able to, again, increase by 50%. But the problem is, that still gets her back to 600 office visits. So she doesn’t want to see 600 office visits. She wants to make 50% more money, but she only wants to work on a hundred people a week. So, how can she do that? Well, there’s a variety of ways that she can do that.
Let’s look at the next slide. Let’s look at the next slide. Okay, let’s not Look at the next slide. Oh, here we go. Okay. So, in order for her to grow 50%, she needs to increase her OVA, $25, from 50 to 75. Remember she was seeing 400 office visits a month and making $20,000. So, that’s 50 bucks a visit. If she wants to make 50% more, then she could just increase her fee from 50 to 75. But the problem is a lot of people don’t really want to do that. The good thing is, there’s a lot of ways for her to do that and to still increase her OVA to 75 bucks. So let’s take a look at the next slide and see how to do that.
Well, she could add a $25 modality to each visit, like a laser or a post electromagnetism or BrainTap. And if she adds a $25 modality, then she might not be doing any more work or seeing any more patients, CA’s might be doing that, but it increases her income on each visit by 25 bucks. Now she’s making 50% more. Or she could see the same number of people, but she could charge for extremity adjusting or cranial work. Add 25 bucks a visit for that. Or she could do some decompression. Maybe she’d only have to sell one $2500 package per week because if what she’s trying to do is increase by $10,000, from 20 to 30,000, that’s 50% growth, all she needs is one $2500 decompression package each week. That four times that, would be 10,000. She’s increased her income by 50%.
Or she could get people on a nutritional package where she actually makes just $80 a month for each new patient. But if you do the math on that, if they stay on the regimen for 12 months, that’s a thousand dollars. She starts 10 new patients a month, 10 times a thousand dollars would be 10,000. That gives her, her 50% growth.
So I want you to realize that there’s many different ways for you to increase your income dramatically. It doesn’t require more new patients, necessarily. It doesn’t require a higher PVA, necessarily. It may require you adding some services, but none of it is a big burden for you if you do it in an intelligent way. So this is one of the powerful reasons why you need to engage the practice growth calculator. It will give you tremendous insight into how you can increase your practice. Some people want to bring in more new people. That’s fine. Some people want to improve their patient compliance and education to get better retention, increase their PVA. That’s also fine. And some people want to see the same number of people, but make more money. And you can do that by working on increasing and improving your OVA.
Now, I want you to know that all of you have the opportunity to engage The Practice Growth Calculator, and it doesn’t cost a single penny. All you need to do is type calculator into the comments box on Facebook, or hit the link that you see that’s listed on this screen. You may not be able to click right on it, but you can copy it down easily and just go right to it. And by engaging The Practice Growth Calculator, you’ll get back the information you need to be able to increase your practice, whatever percentage you want, and you won’t necessarily have to do anything that’s overly difficult or complicated. Sometimes it’s really simple to find a way towards the practice of your dreams. As always, it’s a pleasure to be here with you. Please tune in each week, Monday at three on all the different platforms and you’ll hear another Thrive In Five that’s designed just for you. Dr. Dennis Perman, signing out for now.
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