What is the future of the solo practice of the chiropractic profession? Dave Michel was invited by Dr. Lauryn to share his opinion on her “She Slays the Day” podcast.
“The devil loves an idle mind.”
THE TRICK to keeping your practice lively, fresh and fun — and profitable, is to have your team set their own goals. Then, help them achieve them.
Without creative goals, we all can get bored. Attention drifts and performance and service slip.
According to Self Determination Theory, people want to have their own game. They want a degree of autonomy to demonstrate their competence in an activity they can control. They want their own sandbox.
Working in alignment with others in a group, people also want to be part of a community that shares a larger purpose – and is going somewhere.
This concept can be applied to your practice. Here is an example:
Steu Smalley (Steu has two major roles)
Roseanna Danna: (Roseanna Danna has two major roles.)
It is understood that each office area depends on other areas, so teamwork is essential. However, everyone can improve the outcomes in their area.
Here are 7 steps to implement individual goals achievement.
Implement this program gradually, starting with key positions.
This approach promotes responsibility, accountability, and constant improvement while focusing on business goals. And it makes work more enjoyable.
We teach this procedure in our Practice MBA program for managers and clinic directors.
If you want management and leadership training for you and your manager or manager-to-be, please sign up on our waitlist. I will send updates soon with unique information about key tips on practice leadership, management, and marketing.
Seize your goals in 2025!
Ed
PS. MBA 2025. We are starting a wait list for our next MBA program, which will begin in March. We only take a limited number of students, so if you are interested, please get on our wait list here. [LINK]
Happy New Year! Now that you’re back in the swing from the Holidays, we’ve put together for you a list of the most important reports we feel will prepare you for success in 2025! Have fun with running the below queries, while at the same time resolving to acknowledge the report outputs are your objective, x-ray analyses of where your practice stood in 2024.
1) Standard Financials/both month-to-month and January – December 2024 Practice stats. This will give you your new patient counts, your patient visits, your charges and your collections. What do you see month to month in terms of your high/low months? Did you do something different in the months that were higher statistically? And repeat that action!
2) Run your end of year Accounts Receivable. This is a number your accountant or CPA should ask for. You’ll need this for your balance sheet.
3) Review your Profit & Loss statements from month to month, run by either your accountant or your internal accounting software. Things to look for include:
a. Your expenses – were your expenses in line with your projected budget?
b. Your net income – were you able to pay yourself along with your associate(s) and staff salaries corresponding to livable wages?
4) Want to compare your expenses to what most chiropractic offices are doing? First, remember you want to compare you to you. But we can provide a breakdown of averages that you can look at and see where you may be high or low.
5) Accounts Receivables: 30/60/90+ days
a. Can these be reconciled? Expect 60% recovery for accounts to 60 days old; 55% recovery for accounts 60-90 days; and 20% recovery for accounts 90 days and older. The exception here is Personal Injury and Workers Compensation A/R, which are normally fully recoverable.
6) Retail Purchases – supplement/vitamin sales, pillow/therapy equipment (Durable Medical Equipment) sales.
7) Get your Sales and Use Report off your management software to your accountant or CPA by the end of January for filing the Sales Tax Report. You’ll also want to look at any independent contractors (cleaning services, IC massage therapists or other providers, snow plowing service, roofers, etc, etc) Provide their information and pay amount to your accountant by the end of January for 1099 preparation.
Once you have completed these reports and have assessed where your practice stands statistically, you can now:
• Update goals for 2025,
• Review your marketing efforts, and
• Review your retail inventory.
Need help with any of the above? Contact Lisa – I can help!
Lisa
lisa@pmaworks.com
920-334-4561
People want and need your services
Happy New Year!
Welcome to the First Newsletter of the New Year!
Thank you for being a valued subscriber and for your continued support throughout the past year. We truly enjoy creating these newsletters and hope they provide you with valuable insights to help you achieve your goals.
Our focus remains on practice growth and business development. We aim to assist you in enhancing both the quality and quantity of your services—ultimately boosting your bottom line. Along the way, we want to ensure you and your team enjoy the journey.
Don’t forget, Lisa, our expert in insurance, credentialing, and practice sales, also sends out a newsletter on the first Thursday of each month. Feel free to reach out to her anytime for expert advice. (Details about Lisa can be found below.)
To kick off the New Year, our message is simple: Stay positive and goal-driven!
There is so much to be optimistic about, and I’ll be sharing solid reasons for this in the upcoming weeks. But let’s begin with one key piece of good news—the growth of chiropractic and natural healthcare.
The chiropractic profession is projected to expand at a compound annual growth rate (CAGR) of 26.3% between 2023 and 2033. This means the industry could grow from a yearly value of $571 million in 2023 to nearly $6 billion by 2033!
In comparison, the dental market is expected to grow at a much slower rate of just 4% annually.
While some forecasts for chiropractic growth are more conservative, most predict an increase of at least 10%. The study I reference appears to be well-researched, and you can read more about it on our blog (link below).
IT’S NOT JUST CHIROPRACTIC—NATURAL HEALTHCARE IS BOOMING
The growth isn’t limited to chiropractic care. Naturopathy, for example, is expected to grow by 15-20% over the next decade.
The organic food market has experienced significant growth as well. Sales, which were about $13 billion in 2005, surged to $64 billion in 2023 and are projected to reach $144 billion by 2032.
Similarly, the U.S. supplement market has exploded. In 2000, it was valued at $15 billion; in 2023, it reached $53 billion.
The reasons behind this surge in natural healthcare are clear—especially for those of you working directly with patients. Americans are increasingly looking for ways to improve their health, and what’s been promoted to them for decades is no longer cutting it. As a result, they are turning to alternative solutions.
When comparing the health of Americans to other industrialized nations, the U.S. ranks near the bottom. Surveys indicate a significant shift in consumer attitudes towards proactive health management rather than reactive, symptom-focused treatments. There is also a growing preference for non-invasive, drug-free approaches.
In many cases, people are turning back to simpler, more natural remedies—sometimes even relying on what “Grandma knew”—as they seek alternatives to pharmaceuticals due to concerns about side effects and dependency.
Other key factors driving the growth of chiropractic and natural health include:
Your future looks bright – keep smiling!
As you can see, the future for chiropractic and natural healthcare is incredibly promising. Keep moving forward with optimism and a focus on your goals.
Let’s work together to make America healthier, one patient at a time!
For auld lang syne, my friend,
Ed
References on blog [LINK]
It’s a unique aspect of human nature that we thrive when looking toward the future. (Victor Frankl)
No one—neither you, nor I, nor the people we work with—is holding us back from shaping a better tomorrow. We are the authors of our next chapter: 2025.
In the coming months, we have the freedom and opportunity to craft a renewed and enhanced version of our chiropractic practices and our lives.
Creativity is not only fun, but it’s also deeply meaningful and rewarding. It aligns with our natural drive to improve, to take something good and make it better, then share that improvement with the world.
As the New Year approaches, take some time to envision what 2025 could look like for you. Collaborate with your team and others—it’s a reminder that we all need each other.
This is your chance to innovate. Whether it’s rearranging your desk, adding new wall art, offering care classes, trying a new activity like line dancing, stepping up your fitness routine, or simply listening more attentively to others—don’t take things too seriously!
The key is to treat each day as a fresh start. This ties into the concept of Present Time Consciousness (P.T.C.), something I remember Dr. Jimmy Parker teaching us. When you’re truly present—living in the now—you open yourself up to creativity.
On the other hand, if you fall into autopilot mode, your days blur together, and each patient becomes just another routine. The monotony can be draining—and when you slip into this, it’s likely your team will too.
This is where a strong support system can make all the difference. No one can do it alone, so lean on your teammates, coaches, and colleagues to help you stay grounded and hold you accountable.
In 2025, commit to making every day new—treat each patient visit like it’s the very first. Avoid slipping into automatic mode. Step outside the algorithmic world, and embrace your humanity, spirituality, and Innate wisdom.
CREATE!
Let’s make 2025 your best year yet.
Seize the Future.
(Carpe Futurum)
Warmly,
Ed
Download a tent poster here: [LINK]
The wish of a “Merry Christmas” is a warm and meaningful greeting for everyone, no matter their religious beliefs. It extends to your chiropractic and healthcare teams, your patients, family, friends, and even to those you haven’t yet met.
Christmas represents universal values such as joy, generosity, and goodwill—ideals that resonate with people across the globe, regardless of faith.
This season offers a special opportunity to reconnect with loved ones, whether near or far, and to deepen those bonds. It’s also a time for remembering those who cannot be with us.
It’s a moment to express gratitude, in any way or to anyone who comes to mind.
And of course, Christmas is a time to enjoy delicious food and a festive spirit that brings warmth and light to the winter season.
Whether you embrace Christmas in its literal or symbolic form, it’s a time for celebration and reflection.
From all of us, we wish you and your loved ones a Merry Christmas!
Warm regards,
Ed
P.S. Visit the original article at Goal Driven for two beautiful Christmas tunes to enjoy:
• We Wish You a Merry Christmas
• Trans-Siberian Orchestra – Christmas Canon
The article emphasizes the importance of kindness in chiropractic healthcare practices, suggesting that kindness is the core “business” chiropractors are truly in, rather than just focusing on adjustments, marketing, or insurance. Kindness, defined as acting with concern for others without expecting reward, enhances relationships with patients and within the team. This, in turn, leads to improved patient referrals, retention, and overall satisfaction.
Kindness also has personal benefits, improving the well-being and mood of both healthcare providers and patients, while creating a positive ripple effect in the community. The article concludes with a poem, Let Us Be Kind by W. Lomax Childress, reinforcing the idea that kindness is a priceless and transformative force in life and business. The message encourages practitioners to stay driven by kindness, especially during challenging times.
Multiple Appointment Scheduling Calendars are helpful for increasing your patient retention. We take the work out of them by creating two different easy to use fully customizable forms.
Feel free to download them here.
Scheduling Calendars
Personal-Appointment-Calendar 2024(Customizable WORD Doc) (Portrait)
Appointment – Calendar 2024 (Customizable WORD Doc) (Landscape)
Personal-Appointment-Calendar 2025(Customizable WORD Doc) (Portrait)
Appointment – Calendar 2025(Customizable WORD Doc) (Landscape)
The article addresses challenges faced by chiropractic practices in 2024, attributing some of the struggles to broader economic factors like a “Silent Recession.” Small businesses, including clinics, saw a 30-40% revenue decline, with inflation and rising operational costs outpacing Medicare and Medicaid reimbursements. Insurers’ tactics, such as requiring prior authorizations, denying claims, and delaying reimbursement, have also complicated financial operations. Additionally, many patients face financial strain due to inflation, high interest rates, and rising living costs, further affecting clinic revenues.
To counter these challenges, the article offers solutions focused on improving clinical and administrative practices. Clinicians are encouraged to focus on the fundamentals of their care, adopt a purposeful approach to healing, and invest in ongoing training to enhance patient outcomes. Administrative support is emphasized, suggesting that a strong organizational structure and team training are critical for long-term success. The article also highlights the importance of staying independent, noting a trend of independent medical practices being squeezed out by governmental policies and rising inflation.
The author encourages chiropractors to remain resilient and continue fighting for their independence in the face of these challenges, implying that larger industries may have a vested interest in eliminating smaller practices. The message ends with a call to action for chiropractors to stay strong and prepared for 2025.
Read the Full Article Here: https://www.goaldriven.com/post/the-silent-recession-and-what-to-do-about-it-in-your-chiropractic-healthcare-practice
BJ Palmer had a quote: “Chiropractic is health insurance. Premiums small. Dividends large!”
Following this super quote, we have worked with offices for many years schooling them into implementing these mottos:
How does the successful office achieve these goals?
First, to comply with Centers for Medicare and Medicaid’s No Surprises Act as a covered entity, each patient will have an idea what our range of charges are and that the charges will vary depending on what is done. Explain that the adjustment charges will vary from $XX to $XX, therapies will add $XX to $XX, and exams, diagnostic tests, etc. will add to that. Typically the average office visit will be from $30.00 to $140.00 per visit. This can be shared when the new patient calls in for their first appointment, or placed on your website.
Second, determine if you will be filing claims to insurance, and if patient has a copay or deductible. If there is a financial barrier with co-pays or deductibles, work with the patient during your meeting with them so that the patient does not drop out of care for financial reasons. To stay in compliance, note any waived fees or co-payments on your financial form, indicating why they were waived (no job, too many bills). Alert payment arrangements in your practice software so that the front desk and anyone doing follow-up knows exactly what the patient has agreed to pay each visit.
The patient should already have a good idea after Day 1 from the Report of Findings and the schedule you just worked out with them how many times they will be coming in. Ask the patient if they will have any problem with this and watch the patient to make sure that they will be comfortable with the fees you are presenting (previously calculated prior to meeting with patient).
(These next sections are specific to Wisconsin offices and offer examples. However, if you find this information interesting and you want more information and are outside WI, contact us for further information.)
If you are not filing to insurance, patients are considered self-pay. Let the patient know that they must pay at the time of service for any discount given. To be successful, you cannot reduce your fee while running up patient balances.
Any discount or special fee must be noted on the financial agreements and in the computer. The financial agreement must indicate why there are special discounts given. This can be simply noted in the space provided, such as “patient discount to $30 per visit-financial hardship” or “patient has just started new job-discount given to $30 per visit”. The CA or doctor, and patient, must sign the form.
For self-pay patients who can afford care, are on a routine schedule and show up, in order to give a discount they should be required to prepay, for a package of XX visits, typically with up to a 35% discount.
With the above policies in place, you can help many more people increase their health dividends, removing any financial barriers. Implementing these steps are key to expanding and growing your practice!
If you have any questions regarding financial arrangements and/or insurance please feel free to reach out to me.
Lisa Barnett
920-334-4561
lisa@pmaworks.com
Ed shares the connection between employee satisfaction and the performance of a chiropractic practice, drawing parallels to how companies are rated on platforms like Glassdoor. The Glassdoor ratings range from 1 to 5 stars, based on employee satisfaction, with higher ratings indicating a more positive work environment, better leadership, and improved profitability. Studies have shown that companies with higher employee satisfaction ratings tend to be more productive and profitable.
The article lists five key factors that influence employee satisfaction, which are crucial for improving productivity and profitability in a chiropractic practice:
We can’t emphasize enough that administration and management play a significant role in creating a positive workplace, which in turn supports quality clinical care. While the focus of a chiropractic practice is on providing excellent service and outcomes, having a well-managed, supportive, and motivated team is essential for achieving success. The author concludes by encouraging chiropractic practice owners to continue improving their business management, suggesting that better administration is the key to improving both employee satisfaction and practice performance.
Thia article highlights the importance of gratitude in both chiropractic practice and life. It opens with a reflection on a life-changing encounter with Coach Johnny Pappa, whose motivational guidance left a lasting impact. Ed expresses regret for not recognizing the significance of such help at the time and not expressing gratitude sooner. This personal story serves as a reminder of the many people who have positively influenced our lives, often without acknowledgment.
As the article transitions to Thanksgiving Week, it underscores how gratitude is a transformative virtue, especially when life’s struggles or successes dominate our attention. The author references quotes from Tony Robbins and Cicero to emphasize that gratitude can foster emotional and physical well-being, improve relationships, reduce stress, and build mental resilience. It’s described as a virtue that not only enhances health and happiness but also promotes empathy and kindness.
The article concludes with a call to action for readers to reflect on their blessings and express gratitude to those who have supported them—family, friends, patients, and colleagues. The author thanks readers for their hard work and dedication, reinforcing the value of appreciation in both personal and professional life.
Read the full article here: https://www.goaldriven.com/post/the-benefits-of-counting-your-blessings-in-chiropractic-and-in-life
ED shares how chiropractic business owners can effectively manage their practice as it grows by using key performance statistics. Initially, managing both patient care and business operations is feasible when a practice is at 50-60% capacity. However, as the practice grows, the increasing demand for management and staff coordination can lead to stress and “growing pains.” To overcome this, the article introduces the Fast Flow CEO system, which helps doctors manage their businesses effectively by dedicating just a few hours a month to business operations.
Key to this system is the use of performance statistics, which help track progress and identify areas for improvement. The article outlines essential components for tracking performance, including:
The article emphasizes that these numbers represent outcomes, not just data. The goal is to improve patient care and practice efficiency, not simply to increase the numbers. Displaying these metrics in team meetings and using them as a “dashboard” helps everyone stay aligned with the practice’s goals.
The overall message is that managing a growing chiropractic practice requires smart use of data to drive decisions, improve outcomes, and continue progressing toward long-term goals.
Ed touches on the reasons why 2025 could be a promising year for chiropractic practice owners and healthcare entrepreneurs.
Health Care Advocacy: Robert F. Kennedy Jr., a prominent advocate for health and environmental issues, has been vocal about his concerns with polluters and health agencies like the CDC and EPA. His activism, including his work against companies like Monsanto and ExxonMobil, has earned him recognition in the healthcare space. The incoming presidential administration, under President-elect Trump, is expected to grant Kennedy significant influence to address healthcare matters, providing optimism for the future of natural healthcare.
Support for Small Businesses: Elon Musk, a notable entrepreneur, is also involved in the new administration and advocates for the protection and growth of small businesses. Musk emphasizes that while starting a business can be challenging, the right environment can help independent businesses thrive. His support for entrepreneurship signals potential benefits for chiropractic and other small business owners.
Historical Legacy of Health and Fitness: The article also references the historical efforts of the Kennedy brothers in the 1960s to promote public health and fitness, such as fitness testing in schools and cleaner air and water standards. Musk’s own family background, with his great-grandfather being the first chiropractor in Canada, ties the legacy of chiropractic to modern entrepreneurship and innovation.
The article concludes with an optimistic outlook for healthcare entrepreneurs in 2025, encouraging chiropractic practice owners to think big and embrace opportunities for growth in the coming year.
Read the full article here: https://www.goaldriven.com/post/why-2025-could-be-your-best-year-in-chiropractic-practice
Greetings,
In our last two webinars, we discussed the importance of patient financial consultations.
Let’s delve into why they are so important to your bottom line and how you can set them up for success.
First, changes to insurance coverage and managed care have created an environment where third-party reviewers sometimes have more say in your patient’s length of care than you do.
Second, it is important to note that the financial consultation is a part of the overall Post Report. To be successful, all steps below should be reviewed and completed with each patient, whether they are new or re-activating their care. Why a post report?
The purpose of the post report is for the staff to fully address with the patient any obstacles to the patient getting the care they need and to set the patient up for their schedule of care. This includes setting up multiple appointment schedules, emphasizing the importance of staying on the schedule of care, discussing missed appointments, discussing any needed financial arrangements, going over how to check in at future visits, establishing where the patient should turn with questions or problems, and reassuring the patient in their decision to follow through with care.
Before you meet with the patient for the financial consultation, you also have to have a clear understanding of what you want to accomplish with your financial plans for patients. Your plans need to line up with the goals you have in your office and you need to individualize the plans. Do you want a high percentage of cash, wellness patients? An insurance-based family practice? PI or Work Comp acute care rehab practice? Is the patient undergoing a financial hardship? Each has a different set of criteria for tailoring patient financial agreements.
As these become more common, you can increase your patient retention and compliance by offering more OPTIONS for patient payments. Yes, this requires more work and more follow up, but adjusting to changing business practices in the world often require changing your internal procedures and policies. Adapt and offer ways to make care affordable, then promote these options so that patients see there is a way for them to get the care they need at a price they can afford.
Our Motto: Financial Plans are Liberal; Collections Policies Are Not.
This doesn’t mean reducing your fees or giving away services. On the contrary. For example, a new car costs many thousands more than your treatment plan, but auto dealers are adept at showing the customer ways they can drive that car home today.
Standardizing these procedures will ensure that your patients feel well taken care of at the office at all times.
Questions? We can help.
Click HERE for a sample care plan and financial plan template. [LINK]
This article provides a comprehensive checklist for chiropractors to prepare their practices for the end of the year and the upcoming new year. With 2025 just around the corner, the focus is on winding down advertising and shifting toward internal marketing strategies during November and December. Key ideas include:
Planning for the Future:
Business Essentials:
Start with a clear vision and remain focused on both immediate tasks and long-term objectives for continued success in the new year.
This weeks article, Ed tells the inspiring story of Jose M. Hernandez, who overcame numerous challenges to become an astronaut. Born in 1962 to a family of Mexican migrant farmworkers, Hernandez spent his childhood moving between California and Mexico, working in the fields alongside his family. Despite the hardships, including language barriers and constant relocations, he developed a passion for science and mathematics. Encouraged by a teacher, he pursued higher education, earning a degree in electrical engineering and later a master’s degree.
Hernandez’s career included important contributions to medical technology, such as developing a system for early breast cancer detection. He faced significant setbacks in his pursuit of becoming an astronaut, applying to NASA’s program 11 times before finally being selected in 2004. He flew on the Space Shuttle mission STS-128 in 2009, spending 13 days in space.
In addition to his NASA career, Hernandez ran for Congress in 2012, authored books, and founded a consulting company. His life story was turned into a movie, A Million Miles Away, which highlights his perseverance, the support of his family, and his faith.
The article also shares five practical life lessons Hernandez’s father taught him, which align with the Goal Driven System and goal-setting principles:
These lessons, rooted in perseverance and preparation, are applicable to anyone pursuing significant goals.
Download the Slides: 2024-10-24- The Changing Landscape Slides
As a business owner, you want to reward success. Heck, you want to be rewarded for your success as well (at least one of these days! lol) It’s the American Way, right?
But, unfortunately, bonus systems don’t always work and aren’t always fair. Yet, within reason, we still recommend them.
Here are four basic needs and two types of motivation when rewarding employees.
Team meetings can be very effective at improving the quality and quantity of your services.
At best, they bring everyone into alignment with the goals of the practice. They can release energy that results in sometimes almost magical results. I have seen it!
Here are some key tips for improving chiropractic practice team meetings:
1. Set Clear Goals and Structure
2. Encourage Participation
3. Focus on Improvement
4. Boost Motivation
5. Maintain Professionalism
By implementing these strategies, you can transform your team meetings into productive, energizing sessions that align your staff and drive practice growth. Regular, well-run meetings are crucial for improving communication, motivation, and overall practice performance.
Read the full article here: https://www.goaldriven.com/post/improving-your-chiropractic-practice-team-meetings
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If your practice-building efforts aren’t taking you to your goals, there are reasons — many of which are hidden from you.
Find out what they are and how to sail to your next level by getting and implementing my book, The Goal Driven Business.
