One must remember that when you decided to attend professional school for chiropractic you gave up a lot. You may have delayed getting married, having children, taking vacations and even spending time alone. Then as your desire increased so did the bills and the pressure to succeed. You carried on with your path attempting to become the best-darned physician that you physically can be… that is until you found out what was needed to run the practice. The DaVinci Code of Chiropractic was revealed, and the standard business model is accepting payment from a third party.
As is often discovered this is not the best method for operating a practice simply because when you operate a model with the third party concept the following happens:
- You lost control
- You are beholden to payment dates and rates
- You have no other source of income
- You limit your exposure to your patients. They can tell you how often to see them and when to end your relationship.
To stop feeling alienated and like a victim, physicians need to develop a business model. One that is most suitable to you, your personality, and your working habits. This requires sitting down and sketching out on a piece of paper:
- The perfect patients you desire to work with
- The type of insurance companies you desire to work with
- The type of care you desire to provide i.e. sports injury, geriatrics, pediatric, hypothyroidism, etc.
- Methods and activities required bringing new patients to the practice
- Key benchmarks that ensure success
Over 54% of physicians surveyed do not have a business plan or even a business model. The issues associated with this are dysfunction, disillusion, and dissatisfaction. The road to a successful chiropractic need not be long or stressful if mapped out and planned. However, the lack of planning and modeling could eventually harm you personally and professionally. Run the practice with the same skills you desire of your patients – healthy and maintenance free.
© 2012. Drew Stevens PhD, all rights reserved.