How To Start A Cash Based Chiropractic Practice
You know you want to open a cash based chiropractic practice but you’re not sure where to start. In this article I will show you how to start a cash based chiropractic practice from the ground up. For the sake of simplicity I’ve left out a lot of the technical stuff that’s needed in any business. Finding a location, creating an LLC, opening a bank account, etc. Instead, I’ve tried to focus on things that are specific to the cash based clinic.
1. Pick A Target Market
The better you understand exactly who you will be helping the better you can communicate and market your clinic to your community. It will stop you from wasting time and money on marketing strategies that target the wrong type of people. It will help you understand your patients problems and concerns so you can better communicate how you can solve them. In short, picking your target market will save you a lot of time, money, and stress early on.
2. Create Your Unique Serving Proposition
Once you choose your target market it’s time to create your Unique Serving Proposition (USP). Your USP explains in one sentence what problem you solve. It’s what sets you apart from the insurance based clinics down the street. This is the message you will put on your business cards, brochures, website, etc to let your community know what it is you do. A good USP will answer three questions. Who do you help? What do you help them do? What is the benefit of doing that?
3. Create Outline Of How Patients Move Through Your Practice
Having a understanding. Trust me, you don’t want to just wing it. There needs to be a strategy. Will you offer a free consultation (recommended). Will you offer maintenance program when your clients have achieved their initial goals (also recommended). An example of
Phone call -> Discovery Visit -> Exam -> Plan of Care -> Maintenance Program
4. Determine Visit Structure
Now it’s time to think about how you want to practice. What will your visits looks like? How long will they be? What treatments will you offer? Will you have different options for different people (15, 30, 60 min etc). Once you understand your visit structure you can get to work on setting your prices.
5. Set Your Prices
To be a profitable cash based chiropractic clinic it’s important to get your prices right. There are a lot of factors that go into setting your prices including overhead, length of visit, cost to provide services etc. A great place to start would be to determine how much you want/need to make per hour and base on the number of visits you can fit in that hour.
6. Create Packages
I know a lot of chiropractors take issue with ‘packages’. But here’s the truth, you will not be able to make an impact on your patients lives if they only see you for 2-3 visits before disapearing from your clinic. Creating packages helps you set a goal and a plan to achieve that goal with your patient. I recommend creating three packages based on the average number of visits you would need to help your patients achieve their goals.
6. Create Phone Call Consultation Sheet
For the cash based chiropractor, the goal of the first phone call is NOT to book a new patient in as fast as you can. The goal is to understand who this patient is and make sure they are a good fit for your clinic before. I use the phone call consultation sheet to keep track of a patients concerns in their own words. This helps your follow up and in the discovery visit by letting them know that you truly understand their problem and are the best person to help.
7. Practice Objection Handling
A basic understanding of how to handle questions like, ‘Do You Accept My Insurance’ is important to help patients over the initial hurdle
8. Purchase Email Automation Software
Every chiropractic clinic (cash or insurance based) should utilize email software. It’s a great way to communicate with new and current patients. I use Active Campaign in my clinic.
9. Create Free Informational Offer
A free informational offer is a great way to start the relationship with potential new patients. In exchange for an email address and phone number you provide some information specific to their problem. Linking this free offer to your email automation software allows you to introduce yourself and answer common questions to build trust and authority before a new patient steps foot in your office
Note: I DO NOT recommend free or discounted visits as this lowers the value of yoru services in yoru patients eye.
10. Create Superbill
A Superbill is an itemized receipt that allows yoru patients to submit their visits for any out-of-network benefits. Offering a Superbill is often times enough to help people over the edge to start with a cash based clinic. Read more here.
As you can tell, there’s a lot that goes into how to start a cash based chiropractic clinic. In reality, this list is just scratching the surface. For the last 5 years I have been helping chiropractor build profitable cash, based chiropractic clinics. In my Cash Based Chiropractor Starter Program I help you create everything you need to build a profitable clinic. Best part, I do it in a way that matches your unique treatment style. If you’re interested in learning more, please feel free to schedule a Free Phone Consultation to see if it would be the right fit for you.