The Masters Circle Global, known as the best chiropractic consultants
*The following is an actual transcript. We do our best to make sure the transcript is as accurate as possible, however, it may contain spelling or grammatical errors.*
Welcome to this week’s Thrive in Five. I’m Dr. Bob Hoffman for the Masters Circle Global, where we build the most successful practices through chiropractic coaching. Today, we’re going to discuss the practice growth calculator, and we’re actually going to cover a real case study from one of our colleagues who completed the calculator, and I will show you how easy and how simple it is to rapidly and dramatically grow any practice including yours, if you want to know what to focus on. So here we go. The doctor who completed this actual practice growth calculator’s real first name is James. James tells us that he averages 20 new patients a month, he averages 60 visits a week, and he collects an average of $33,000 a month. What the calculator instantly analyzed was his PVA, his patient visit average, which is the average number of visits a patient comes back in a calendar year, and his OVA, his office visit average, which is the average amount of money collected on every single visit.
James’s PVA is 12 and his OVA is $139. Now this is vital to analyzing a practice, because the three essential linchpins to every practice is new patient average, patient visit average, and office visit average, and this is based on the business optimization formula. So follow me on this. I promise it’s super simple and easy to understand, and it can quickly change the entire trajectory of your practice and your career. The three linchpins to every practice are all averages, and averages in the short term are not very accurate, but over a full year or longer become extremely accurate and very predictable. It is your new patient average times your patient visit average that always tells us your visit volume.
James is averaging 20 new patients a month and his PVA is 12, so 20 times 12 equals 240 monthly visits, which is exactly what James is averaging. Then it’s your visit volume, 240 visits for James, times your OVA, in this case, $139, that always determines your income, which is in James’s case a little over $33,000 a month. James answered another calculator question saying he wanted to grow by 10% this year, which is a percentage that quite frankly successful thinking individuals would never consider. If you’re going to grow, why not grow by 20 or 30 or 50% or more? The last calculator question that was asked is please select your area of greatest strength, and James listed great people skills. I must admit I’m challenged a bit by his response, because first, about 80% of all the doctors who’ve completed the calculator wrote the exact same convenient and socially approvable answer. And second, because if in fact you have great people skills, you would not most likely have a 12 PVA and you wouldn’t be caring for only 60 people a week as a general rule.
With all that said, the real question is this, what should James focus on to grow his practice? And over 90% of our profession would say more new patients, and that’s not a wrong answer, but the far better, the far easier, and the less expensive answer to grow James’s practice is to improve his PVA, his patient visit average. This is what chiropractic coaching does. It focuses you on ways to get from where you are currently to where you want to get to, where you want your practice to grow to. So follow me on this. If James kept his new patient average at 20 new patients a month and kept his OVA and $139 collected per visit, but improved his PVA from just 12 to just 15, a conservative improvement of three more visits per patient per year, watch what happens. 20 new patients times a 15 PVA would now equal 300 monthly visits compared to the 240 that James currently has. Those additional 60 visits per month times $139 collected per visit, his OVA, and James’s practice would grow in monthly income by $8,340.
You heard that right. Or a bit over a hundred thousand dollars in a year. One small incremental change creating an enormous positive result. One simple conservative change. The ability to laser focus on just one specific improvement, and the result is over a hundred thousand dollars more income in a year with no additional expenses. No one has to hire anyone. No one has to buy anything. Just knowing what to focus on, this is a far more and far more effective way to increase much more than the 10% James originally requested. Now this is why the Masters Circle Global has 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 or clinical skill. Your ability to have a successful practice is not about how many new patients you get, it’s about how many patients you can persuade to your way of thinking, how well you can best serve them to feel, and more important, to function better now and forever.
So please tap into the practice growth calculator today to discover how easy it is for you 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 the your practice growth calculator will come up. If not, you can see the link to get to it right on the bottom of your screen.
Doc, I’ve got to tell you, it’s never been easier to have the practice of your dreams, to help as many patients as possible, and as a result, make as much money as you could ever want. It’s never been easier to pinpoint exactly what statistic or what metric is your linchpin to rapid and sustainable practice growth. If you haven’t completed the calculator already, please do so today. If you have completed it, but haven’t scheduled your private consult to reveal and review what we learned from it, get that scheduled today as well. The practice growth calculator will simplify the process, it will laser focus you on what to focus on for rapid growth, and it will change your career and your mindset once and for all. I do this for docs like you all day, every day, and I’m proud to be an expert chiropractic coach.
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