Chiros Use This Framework To Work Less & Earn More

Here’s a powerful secret that no one else is telling you - how to earn more while working less. But there’s a price that has to be paid, and that price is what we call “The Learn It Or Earn It” framework.

In this framework, you either have to go through the pain of earning it yourself or figuring it out. Or, you can pay the price of learning it - somebody else who's already figured it out and can condense the time frame of your success.

Today, I'm going to share with you the exact framework that’s allowing our doctors to work less and earn more.

Step 1 - Awareness Of Your Practice Points

I’m sure many of you have felt discomfort in your practice. Something's not working. It's not operating as efficiently as it could be. But where’s that discomfort coming from?

Imagine if we could sit down for a chat, just you and me. How many times have you had those heart-to-heart consultations with your patients? You're face-to-face, digging deep, trying to unearth the root of their discomfort, seeking out where it all began.

That's the power of this framework we do with our doctors, and it's understanding your operating system.

So, I want you to rank yourself, and the first thing that I want you to rank yourself on is your admin system. On a scale of 1 to 10, 10 being unbelievable and 1 being low, how efficient and healthy is your admin system?

Now, here are the roles and duties of the admin system. One is monitoring profitability. Are we profitable? What is our profit margin?

A healthy practice should operate anywhere from 50% to 80% operational overhead. That means a profitability of 20% to 50%. Of course, this has a lot to do with the type of practice you're running.

Now, when it comes to your admin system, how efficient is that? Have you set it up to attract top-notch talent? You want A-players who not only have the skills but also the expertise to handle their roles effectively.

Your admin system should have a cadence of accountability for those team members to make sure that they're supported, valued in the organization, and equipped with the right training to excel in their roles.

So, on a scale of 1 to 10, how are you doing at being the CEO of your practice?

Next is how would you rate your marketing system on a scale of 1 to 10, 10 being I have more new patients than I know what to do with, and they are my dream patients.

Do you have certainty about your marketing outcomes? Are you monitoring your new patient acquisition cost?

This is key to understanding the health of the system and making sure it's producing high-quality new patients for a reasonable new patient acquisition cost. So, give yourself a score on a scale of one to ten.

Then we move on to the front desk new patient system. This is the system where we deliver kept new patient appointments. How healthy is your front desk new patient kept appointment percentage?

Are we getting a lot of patients showing up and engaging in the consultation exam? If we can't even get them there, we can't transform their lives. And if we're missing a lot of appointments, it's leaving gaps in your schedule. That time is killing your production.

So, on a scale of 1 to 10, 10 being the highest, meaning everybody's showing up for their new patient appointments, how healthy is that system?

Your next operational system is your exam and case acceptance. This is your start rate. How healthy is your start rate? Give yourself a score from 1 to 10, 10 being everybody's starting care that I accept into care.

Or do we have a lot of patients who don't qualify for the program because we didn't have a financial qualification step early enough in our process?

Do we have patients who want to get a second opinion? Have we set up the right tools and connections during the exam and case acceptance process to give them what they need? Give yourself a score from 1 to 10.

We now move on to the front desk establish patient system. This is the high number of scheduled appointments with a high kept appointment percentage.

Do we have the volume in the practice to create the cash flow to hire the team we need so everybody's bandwidth is manageable? Do you have enough demand or patients on the schedule to attract and hire that associate doc to start allowing you to move up the provider evolution ladder?

Give yourself a rating from 1 to 10, 10 being our schedules are full, productive, we're hiring, and we're growing.

Your next operational system is your treatment or production system, which is the quality of care you're delivering at a high volume. You're not just managing patients but ensuring they fully grasp why they're here, why they need to return for the next visit, what the treatment plan entails, the goals for their current phase of care, and what outcomes they can anticipate.

The chart notes are getting done, diagnoses are matching up, and then we're handing this off to the billing and financial team. No hiccups, no denials, and no problems in claim processing. On a scale of 1 to 10, where would you rate yourself?

The next one is looking at your billing and financial. We want to look at the value of the services you deliver to your patients compared to the amount of money you're collecting. This is a vital metric to look at when looking at your last 12 months of operations.

When we compare Total Adjusted Production, that's the value of services you delivered after adjustments such as write-offs and discounts; how much of that money did you actually collect?

It breaks my heart when I see practices collecting 50%, 60%, or 70% percent of that because that means they're only taking home 70%. They have 70% of the money to pay the team for 100% of their work. Well, that math doesn’t make sense.

So you must be collecting in the high 90s of the actual work that you're doing. Any healthy business is going to do that. Where would you rank that on a scale of 1 to 10?

Now, when you combine these seven systems, I want you to add the numbers and divide by seven. What's your average score? This number is so important because, based on that number, we can show you precisely what to do to bump that number up very quickly.

This is step one in the framework of how to work less but earn more. And you've got to have a high operational index number as you begin building your dream practice.

Step 2 -  Spend Your Time On High-Value Growth Activities

Too many of you are trapped by delivering patient care, doing documentation, solving team members' problems, or handling building maintenance - these are things you could delegate.

The most successful entrepreneurs delegate. They refuse to do things that are not going to generate significant growth.

• You should be spending way more time analyzing your 80-20, why 20% of your patients are producing 80% of your revenues, and how to attract more of that 20%.

• You should be spending more time on your marketing strategy and building your 90-day marketing calendar.

• You should ‘time block’ your week to create content, just like I'm creating for you. You should be creating content for your dream patients. How will more people in your community begin to know you, like you, and trust you without you being available to them?

So these high-value activities are the secret to getting out of the daily grind where you exchange time for money. We want to move you into creativity. We want to move you into CEO. We want to move you into helping to manage and direct operations, not be stuck in operations.

You've got to build a team that you can delegate confidently to every single other activity so that you can spend more time with the high-value activities that will grow the practice.

Step 3 - Obsessing Over Conversion Metrics

This has everything to do with working less and having it do more. We've got to increase our outputs. The way we increase our outputs is increasing the conversion.

What I mean by this is a lead converting to a schedule new patient, a schedule new patient converting to an actual showed new patient, a showed new patient that's converting to a report of findings, a report of findings that's converting to a start. You see, it's like a conveyor belt or an assembly line.

Now, when we obsess over these conversion steps and monitor this, I see doctors go through these steps.

1. The first step is “Unaware & Unknown.” They aren't even watching conversion metrics. They're just doing the work and hoping enough people convert into patients that it covers overhead. But that's no way to run a practice. I don't want you to stay unaware and unknown. I want you to move into awareness.

2. But then you're going to go through this phase of “Aware & Unknown,” meaning I don't know how to fix it. I'm now aware that we kind of suck at this, but how do I fix it? This is a natural step, and I don't want you to get caught up in that.

3. That’s because the cool thing about the next step is now you're “Aware & Known.” You know how to fix it.

And that's what the data-driven community is all about. We have distilled the best training, systems, and processes for the specific metrics that are struggling.

It’s like a recipe book: if this metric's struggling, do this and that, and BOOM, you have bigger outputs. That's what a data-driven doc obsesses over, and that is how you're going to get done more with less.

You've got to make sure that every team member produces more in the same amount of time. That's the power of watching these conversion metrics, obsessing over them, watching the steps we're doing, becoming aware, and knowing how to fix them.

The power conversion is a multiplier effect that when you fix one step, and then the next step, and the next up, the output is like a fire hose now coming at you and your team of success, and it's going to be amazing.

So I have to ask you, are you ready to surround yourself with other data-driven docs so that you can move from “Unknown & Unaware” to “Aware & Known” and gain the skills it's going to take to build a data-driven team?

Then, you need to come join The Data-Driven Facebook Group. It's free, and when you join, you'll get an amazing free guide that shows the data you should be analyzing in your practice.

You're also going to get more content and training from us. And you'll see other data-driven docs building incredible data-driven practices you can mirror and duplicate.

You'll learn how to build world-class first-class workshops, fill them with your dream patients, and crush your revenues.

This is the road map to your dream practice, and your dream life is literally just on the other side of putting these pieces into your practice. I will see you in the free Facebook group, The Data Driven Practice!