Chiropractic Rescue Plan » Business Strategy

Bring in New Business to Your Chiropractic Office With Groupon

Dr. Dan — Mon, 12 Dec 2011 09:25:51 +0000

I just finished a short but very comprehensive 25-page ebook on how to bring a surge of new business into your office using Groupon, Living Social and other “deal of the day” sites. If you ran one already and had a bad experience, don’t despair– it was most likely because you did not plan ahead properly. There are key strategies, I have discovered, that can make these kinds of promos lucrative.

The first couple I ran, I didn’t take seriously, and missed a lot of opportunity. I’ve used Groupon, Living Social, BuyWithMe, and Tippr in 2011, and now have “expert insight” on how these things work. I’ll share with you my secrets in this powerful ebook, which I’m offering for only $19.

Check it out here.

Do You Have a “Wow” Factor in Your Chiropractic Office?

Dr. Dan — Fri, 18 Nov 2011 07:15:10 +0000

Over the last 15 years I’ve had the opportunity to notice changes in attitudes that people have towards chiropractic. Here are my observations:

1. Many people still choose to see a chiropractor for pain. I think as a percentage of the population, it has remained flat over the last 15 years; probably close to 25% which is a decent number.

2. Likewise, many people still don’t choose to see a chiropractor because of a negative past experience, or because of something bad about chiropractic that they read online (stroke news article, Stephen Barret website, etc).

3. Fewer are interested in doing pre-paid “maintenance care.” Most are open to a short course of treatment with expectations of getting better, and then being discharged. Some, after reaching the results they are happy with, choose to come in when they feel they need to; about once a month to every couple of months.

The world today presents new challenges to small business owners in the service industry. The competition for a consumer’s dollar has greatly escalated, to the benefit of the consumer. You have to create a large perceived value in your services in order to win over your customers. Just look at how mobile phone companies are offering free cell phones with plans, and how others are giving steeply discounted services through Groupon and similar sites.

I think most of us know what a USP is: a unique selling proposition. In marketing, this means what you offer that your competitors don’t that gives you an edge; a reason for a consumer to see you instead of them. These days, you’ve got to find a way to offer more. You need a “wow” factor. High-end restaurants invest a lot of money in their decor, because they know that people dine out for the experience. You need to do the same for your chiropractic business. Brainstorm ideas of things you can add to your office visit that creates this “wow” factor; something that gets people talking.

I recommend that you brainstorm with people who are not like you, who can offer a fresh perspective. Here are some ideas:

Free healthy snacks for early morning patients
A vivid, vertical saltwater aquarium at your entrance
Validated parking
Shiatsu foot massagers in your waiting area
An aquabed massager for patients to use after their visit
Free Wi-Fi and laptop station in your waiting area

These little things can go a long way. If your patients find it fun to go to your clinic, do you think they will tell their friends and acquaintances? Sure they will! And, they will probably mention your office on FaceBook.

I think you get the idea. Get out of the plain vanilla mode, and into some Ben and Jerry’s. Remember, consumers have higher expectations these days; you’ve got to be able to meet them if you are to succeed and grow.

New Patient Injection Thanks to Endermologie

Dr. Dan — Sat, 24 Sep 2011 07:13:08 +0000

Endermologie cellulite reduction continues to be a valuable asset to my business. When done right, it can provide a nice cash revenue stream and can also bring in new chiropractic patients.

I recently ran a Groupon special for three Endermologie sessions. Here’s a partial screenshot. Notice the “Sold Out” notification:

Groupon wanted me to set a maximum of 500 deals; I decided 300 instead. And, I’m glad I did! The minute the deal went live, my cell phone incoming texts went crazy. I wisely used GenBook online scheduling system to automate the large volume of incoming appointment requests that I anticipated. And, it worked like a pro. GenBook texts my cell phone whenever someone makes an appointment. It scheduled the max 14 appointments per day, several weeks on out, all without me lifting a finger. And the cost? At $29/month, that would be $1.00 per day. If I paid a receptionist $12/hour to do this, it would cost $96/day. What would you prefer to pay, $1.00 or $96.00?

Anyways, back to the Groupon deal on Endermologie. I admit I don’t make much myself on these deals, as Groupon takes a significant cut on the already discounted amount. The money is in the upsell– converting Groupon clients to paying for $900 packages after trying out the service. Secondly, converting them to massage, chiropractic, or weight loss clients.

Groupon is like the ignition that starts a fire– it can bring in a surge of business through your doors, but it is up to you to monetize that business. It seems easy, but be warned, you can screw things up pretty bad for yourself if you aren’t prepared.

I am putting the finishing touches on a new e-book, Turbocharge Your Chiropractic Office With Groupon that will explain in detail how I use Groupon to quickly ramp up business. It will reveal the costly mistakes I made (yes, even I make marketing mistakes ), the things I did right; what worked and what did not work; pricing and upsell strategies; and forms and systems I use to monetize the business. If you wish to receive notification when the ebook becomes available, opt into my email list. As a bonus, you will get a Free, 75-page ebook on how to do internet marketing for your chiropractic office.

Want to know how I built and seamlessly integrated an Endermologie business into my chiropractic office? Here’s where you can find all my secrets. Imagine an all-cash business and NOT having to do SOAP notes! That’s the beauty of Endermologie!

Struggling Chiropractors Recommended Book

Dr. Dan — Sat, 23 Jul 2011 06:18:08 +0000

I recommend this book whether you are struggling or not. It’s called The Sticking Point Solution and its written by one the the greatest business minds of modern times, Jay Abraham.

This book identifies “sticking points” that keep businesses from thriving, and tells you how to fix them. And, it shows you how to do this in a down economy.

The main idea is to abandon the approaches that do not work, and implement strategies that will make your business stand head and shoulders above your competition. You want to position your business as the most trusted place to go in your market.

Excellent reading, docs. Check it out.

Endermologie: a Nice Cash Cow for Chiropractors

Dr. Dan — Fri, 10 Jun 2011 02:06:34 +0000

I recently ran a Tippr.com special for three Endermologie (non-surgical cellulite reduction) treatments for $132. Normal price is $265. Out of the $132, my cut was $78 and Tippr took the rest for advertising costs. 26 coupons were sold, and I got a big fat check for $2,028. It closed a month ago, and so far less than 10 people redeemed their coupons. Some may not show up for whatever reason, but I still get paid. And, so far I’ve converted two to regular paying clients. In other words, the campaign cost me zero dollars upfront, and I’m already profitable.

Let’s face it fellow chiropractors, the landscape has changed. If you’re struggling to find new chiropractic patients, or if your NP/month rate has taken a nose dive, find another watering hole. That’s right, stop beating yourself over the head trying to get new chiro patients; think outside the box, offer related services and increase the size of your target market (last time I checked, the chiropractic market was still stuck at around 12% of the population). Since we are in the business of improving the condition of the human body, esthetic services are a logical choice. Chiropractic for fixing the mechanics of the body; esthetics for fixing the outer appearance of the body. It all makes sense. And if you position your office correctly and adjust your marketing, it will be a smooth transition.

I made things a lot simpler for you. I created a course called the EndermoCash System that shows you, step by step, how to start and run a profitable Endermologie cellulite reduction business. It contains all the knowledge I’ve accumulated over the years on how to run the business. You can basically fast track your business to profits by investing in this course, and be in the black your very first month.

Remove the mental barriers, and give it some serious thought. Office too small to offer Endermologie? No problem, rent another space and have a separate business; combine it with a massage therapy business while you’re at it to add a second revenue stream. Use that business to advertise your chiropractic office. Problem solved.

I’m convinced that being extraordinary instead of ordinary is the key to staying profitable in the years to come. This is only one solution. Can you think of others? Let your imagination run free, and you might come up with a fantastic idea.

Dr. Dan

Payment Plans

Dr. Dan — Tue, 05 Apr 2011 05:03:45 +0000

I ran into a decent article posted on Chiropractic Economics that deals with cash plans.

The gist of the article, written by chiropractor Mike Mandell, who has an MBA degree, says that when it comes to money, people see themselves as having two sources of money, their income (paycheck) and their savings (wealth, home equity, etc.).

Dr. Mandell writes:

Understanding how consumers pay their bills can help you to shift their mindset from considering your fees as a cost to viewing fees as a long-term investment in their health.

Average Americans see themselves as having two sources of money — their paychecks (income) and their personal savings (wealth). A paycheck has to cover mortgage payments, monthly bills, shopping purchases, credit card payments, student loans, payroll taxes and small incidental expenses.

Many patients are feeling the economic squeeze on their paychecks. According to the Department of Labor, median weekly paychecks fell 1.5 percent in the first three months of 2003.2 Most Americans have little room to add more monthly bills.

Personal savings, on the other hand, are for future expenses such as retirement and children’s college tuition and also for large, annual or one-time expenses.

Chiropractors are experimenting with all kinds of creative cash payment plans. For example, $100 per month unlimited care; family plans, and annual payment plans. Dr. Mandell seems to favor offering patients a more expensive annual plan for wellness and present the plan to patients as an investment in their future health, rather than a monthly symptom management cost. This way, they will draw from their savings to pay for your care and it will be less “painful” to do. A smaller monthly payment plan draws from the monthly budget, which is already stretched thin in many families.

Read the entire article here.

Chiropractic Business Plan Now Available

Dr. Dan — Fri, 28 Jan 2011 10:18:45 +0000

Click the banner to visit site

If you’re looking to start a new chiropractic business or transform your current one into an efficient, low-overhead, lower volume model, I’ve put together an extremely comprehensive book that shows you how.

I truly believe that chiropractors should do all they can to keep operating costs low in order to stay profitable. There are strategic ways to do this without sacrificing quality of care. In fact, the system I advocate actually improves quality of care because it removes the stress associated with running a high overhead practice. After all, how can one truly devote their attention to their patients when the specter of rent and payroll looms in the background?

The book is called Chiropractic Business Plan: How to Start a Low Overhead, Profitable Practice. I hope you like it!

New Study on Chiropractor Attrition Rate

Dr. Dan — Sat, 15 Jan 2011 06:46:33 +0000

I recently read a somber study released in the online journal, Chiropractic and Manual Therapies. Entitled The attrition rate of licensed chiropractors in California: an exploratory ecological investigation of time-trend data, it hypothesized that the attrition rate of chiropractors has gradually increased over the past several decades and offers possible reasons for the increase. Attrition rate, as defined by the study refers to the percentage of chiropractors who are not in practice within ten years of receiving their license to practice.

The attrition rate was determined by a retrospective analysis of license status data obtained from the California Department of Consumer Affairs. Other variables were determined from US Bureau of Census data, survey data from the American Chiropractic Association and catalogs from a US chiropractic college.

The results showed that the 10-year attrition rate rose from 10% for those graduates licensed in 1970 to a peak of 27.8% in 1991. The 10-year attrition rate has since remained between 20-25% for the doctors licensed between 1992-1998 (there was no data for the years 1999 to 2010, but I would be very interested in knowing that number).

The study proposes and examines the following possible explanation to the rise in attrition rate for chiropractors:

1. Reduced population to chiropractor ratio: The imbalance between the higher growth rates of chiropractors, compared to the population, is potentially significant as it dramatically changes the availability of potential patients. Previous investigations have found a small percentage of the current population utilizes chiropractic services. Lawrence and Meeker reviewed studies that analyzed chiropractic utilization and noted, “Studies looking at chiropractic utilization demonstrate that the rates vary, but generally fall into a range from around 6% to 12% of the population…”

2. Decreased income. A Canadian study by Mior and Laporte revealed that Canadian chiropractors’ net income dropped from $97,892 in 1992-93 to $48,900 in 2002-03, a reduction of 50% in 10 years during which time the patient-to-chiropractor ratio reduced by 33%. This phenomena can be extrapolated for California, as the ratio of patients to chiropractors has also dropped significantly during the same time period.

3. Increased tuition costs. The cost of chiropractic education has gone up significantly each year in the last two decades, making it difficult for licensed chiropractors to pay back their loans and adversely impacting their practices.

4. Changes in health care reimbursement to chiropractors. The consensus among chiropractors, particularly those who practiced in the 70s-80s is that managed care has severely impacted a chiropractor’s earning potential.

——————–

Chiropractors are feeling the pinch even more acutely in 2004 to the present. In California, the Workers Comp system pretty much closed the purse strings to chiropractic care for injured workers after years of cost overruns. Regional employers started offering high deductible, lower premium plans which pretty much eliminated chiropractic coverage (i.e., 80% chiro coverage after meeting a $1,500 deductible–go figure!). Managed care companies have contracted with major carriers that previously had decent chiropractic coverage; now the reimbursement level has been reduced by over 50%. In order for a chiropractor to get paid his fee schedule, he/she would have to do so as an out-of-network provider. Most patients will search their network provider list first, rather than go to an out-of-network doctor. And lastly, the economic recession is causing people to spend less money which adds to the downturn.

Folks, I’m all for staying motivated and thinking positive, but we need to face reality and take appropriate measures in order to survive. We still have a wonderful service to offer to the population; that has not changed. What has changed is the “utilization landscape;” i.e. access to us, and all the factors that determine what percentage of the population is willing to use our services (media coverage, quality of chiropractic care/patient satisfaction and willingness to refer others, insurance coverage, disposable income).

This study recently came out, but I and many other chiropractors were already onto this threat to our profession. It motivated me to write a book, Guerilla Chiropractic: How to Survive and Thrive in Today’s Hostile Environment. This guide summarizes the method I have resorted to in order to adapt to the times. In a nutshell, it involves keeping overhead low, using technology to automate parts of the practice, diversifying service offerings, time leveraging, and planning an exit strategy. Hopefully, it can give struggling chiropractors ideas that they can run with, and help them succeed.

To read the entire chiropractor attrition rate study, click here.

Chiropractic Business Plan Coming Soon

Dr. Dan — Tue, 11 Jan 2011 07:35:00 +0000

I’ve been getting a lot of requests for information on starting a chiropractic business. In about a week, I will release a new product, tentatively titled Chiropractic Business Plan 101: Strategies for Starting a Successful Chiropractic Business in 2011.

1/28/2011 UPDATE: Chiropractic Business Plan is now available!

Written by someone in the trenches, it will address what I believe are the most important aspects of starting a chiropractic business in 2011. Times have changed, and you must learn how to adapt in order to succeed. The manual is for soon-to-be chiropractors but can also be helpful to established chiropractors. The book will organize your thoughts and help you make the right decisions, guiding you on the path to success. Some of the topics it will cover are:

The most important task to do before your start
The four basic chiropractic business models
Strategies to keep overhead low and business high
Long term planning

To get notification on when this product will be released, make sure to opt in to my email list.

Lean, Mean and Focused: The Keys for Success in 2011

Dr. Dan — Thu, 30 Dec 2010 10:19:35 +0000

People, our patients, are inundated with stress these days. They seem to be always in a hurry, and, they have less to spend.

How do you capitalize on this phenomena as a business owner? You address it and make modifications to your business. Find ways to streamline your operations, cut costs, and offer better service at the same time. Think of yourself as the governor of California. Californians are facing a huge deficit as tax revenue has fallen and the unemployment rate has sky rocketed. What would YOU do as governor to cut costs and get back into the black?

Well, take this train of thought and apply it to your business. Are there one or two too many forms that you’re having your patients fill out? Can your exam and report of findings be given on the first day, and in 15 minutes? Can the jobs of your front and back staff be combined? Are there ways to have the patient help you do the SOAP notes each visit, saving you time?

Also, are you using today’s technology to leverage your marketing and save you time? For example, using an email marketing system to automate your marketing; using You Tube to educate patients on exercises and stretches and the importance of keeping their chiropractic visits; using video email to send personalized messages to all of your patients; using FaceBook to stay in your patients’ mind and win that battle for attention, and getting them to refer their friends to you; perhaps using an answering service plus online scheduling system that will allow them to take your calls and schedule appointments while you do other things? Or perhaps using WebEx to do a new patient webinar?

These are just a couple of things you can do to trim costs and automate your practice. And that is what this blog is all about.

Economists are saying that 2011 is going to be more of 2010: high, persistent unemployment rate, depressed home prices and less consumer spending. Consider cutting your overhead by using technology and operating leaner, meaner and more focused and pass on the savings to your patients. Go on ahead and lower your cash rate if it is $50 or more per visit. Your patients are watching every penny they spend, and if you announce a discount on your services it will be a big incentive for them to return.