How I Would Build A Six-Figure Chiropractic Practice in 6 Months

How much could you get done in the next six months? Well, think about the most productive times in your life and what you’re able to accomplish in six months. That's a big chunk of time.

I know doctors who have literally worked for years to hit that 7-figure mark and have not hit it yet. In fact, only 1% of our profession has actually gotten there.

But let me tell you, the top performers are in this community, the Data-Driven Practice community. We are building seven figures because we have the strategy. And today, I'm going to share with you that if I lost everything in my practice, and all I had left to start over again was my knowledge, my understanding, and my strategies, I'm going to show you step-by-step exactly what I would do to get to seven figures and beyond.

Step No. 1: Pick One Condition To Focus On

This step is the most important because it's going to set the tone for you and your practice. But let me give you a little back story on this.

You see, I come from a chiropractic family. I was the son of a chiropractor, and not just any chiropractor, but H. Ronald Frogley, who was the Executive Vice President of David Palmer.

So I grew up knowing that my dad could fix any health problem that I had. I had this mindset that chiropractic solved everything. But the skeptics would debate that saying that if you're a construction worker and the problem's a nail that every solution is the hammer.

Well, luckily chiropractic is one of the most powerful things ever given to mankind, and I'm so honored to be a chiropractor with you helping unlock people's healing potential.

But what we’ve found is that the general public doesn't think through that lens. They don't see that the nervous system is the master organ of the entire body that drives healing for everything.

So we have to reframe how our patients see health. They think of it in terms of conditions. I want to break down for you the difference between an expert and a general practitioner.

There’s this fundamental principle in the world of medicine that really sets surgeons apart from general practitioners. They each dive deep into their own specialized niche within the healthcare system, becoming true experts.

We’ve also found that when you’re seen as an expert, your income can skyrocket by up to 300%.

So instead of trying to attract every patient out there for every condition like I did with my dad, I want you to get laser-focused on the one condition that you can become an expert at.

In fact, we have found that the practices that are doing the biggest collection numbers are ones that have actually niched down to one to three specific conditions. They're seen as an expert and that translates into higher fees for their treatment plans, simply because they're providing a higher level of care for complex cases.

When they begin attracting those patients and become known as the experts, we dramatically see those collections skyrocket. And the beauty of it all is that marketing becomes easier because we now have one path for patients to find their way to your practice.

Step No. 2: Create An Irresistible Offer

Now that you've chosen the expert you want to become in dealing with this condition, we now have to create an irresistible offer. This offer should be something that's so attractive that patients suffering from this condition will literally be begging to have that offer and make the most of it.

Now, when we break down this offer, it’s clear that much of our profession relies heavily on one thing – the consultation. Don’t get me wrong, chiropractic consultations are incredibly valuable and powerful. But there's a mindset shift I've got to help you with.

I was just working with some of the top doctors in our community on this just the other day in a group coaching call talking about value versus price. When we were going through everything that was given in their offer, I kept asking an important question: what's the value of that?

Their response often was, “We don't charge for that. We just we just give it away.” I get that they give it away, but I pressed on, “But what's the value of that?” And this was a valuable test that they were giving away to determine a patient’s risk of falling. It was a balance test.

Now I asked them, “Could you even go to a neurologist and have that test performed without them billing a code or charging the patient for that?” Their unanimous answer was, “No, you couldn’t.” Then I asked them to estimate the cost of a neurologist’s examination, and they said it would easily surpass $500, excluding any diagnostic testing.

So in your offer, I want you to list every single thing that the patient will receive in the offer, and across the line from that, you need to put a number. Not what the insurance companies are going to discount it to, or maybe they don't even pay for that at all. I want you to put the retail value of that experience. The better the offer, the bigger the value.

To increase the value of your offer, you could include knowledge-based value. That means you’re giving them an extra reason to jump on board. Imagine offering not just a consultation, but also the chance to attend a class or join a webinar, or even gaining a deeper understanding of your services.

Don't overlook the worth of the patient education you provide. You have got to put a value to that. You've got to show a patient that when they come through this experience the value, the clear path, and the understanding that they're going to get.

When a patient in pain receives that crucial information, it's like a shot of confidence straight to their soul. They grasp how valuable it is, and they'd trade almost anything for it.

I love offers that are somewhere in the $300-$500 range, which your practice generously extends for $29, $39, or $49. The power of that offer will help you qualify your patients because if they're willing to pay a little bit for that, we have found that it dramatically increases conversions. And that's what we're trying to impact here.

Make sure that you're only sitting in front of qualified patients who truly want to be there. No more dealing with no-shows because they didn’t have any skin in the game. There's no consequence for them missing that appointment.

With your irresistible offer doing some of the heavy lifting, you can dramatically cut down on no-shows, free up your time, and focus on what truly matters – producing results.

The goal is to get you in front of qualified people, and a really good offer will do that for you. It will qualify and convert, and your conversion metrics will skyrocket.

Step No. 3: Math Problem - NPAC vs. ACPV

I remember going through school thinking, am I going to need math when I become a doctor? Why would I need math to be a chiropractor? But now I’ve fallen in love with math because running a practice is all about the numbers.

After working with thousands of practices, I see so many math problems, and the math problem is your New Patient Acquisition Cost (NPAC) compared to your Average Care Plan Value (ACPV).

If you're an insurance-based practice, it seems like many of you rely heavily on what the insurance covers for a visit. What I often observe are cases where a patient comes in, and they may or may not get a care plan. They end up just moving from one visit to the next. On average, these patients only cover their co-pays and the insurance reimbursement, which usually amounts to around $800.

Well, if you're acquiring a new patient for $120 or even $80, that math doesn't work out too well. You've got to acquire a lot of those patients to build a 7-figure practice. I don't want you to work that hard.

My whole world changed when I shifted from symptomatology-based care to functional-based care. I had the privilege of working with some of the top doctors in our Data-Driven Practice community. They were teaching techniques that were restoring structure focused on not just removing the subluxation but treating the soft tissue around the spine, and rehabilitating the muscles to strengthen and stabilize the structure. By doing this, we not only restored the physical framework but also brought back function.

When patients understood that, they were coming through our care plans not just to get rid of the pain, although that was important. We were there to challenge them, to work together on targeted movements that would elevate their functionality.

It wasn't about solely managing symptoms; it was about learning how to optimize function for long-term health. Who wouldn't want to live a pain-free life and get back to an active, vibrant lifestyle? That's exactly what our care plans were designed to achieve.

So when we presented the care plan, it wasn't just eight visits or 12 visits on what their insurance would cover. We did show them what their insurance would cover, but then we moved them into phases of care that required some out-of-pocket investment. Let’s face it, health insurance is more like crisis insurance. It's not really geared towards comprehensive healthcare.

And because the patient saw the value, and it aligned with their health goals, they were willing to commit to those care plans, and it changed everything. Our care plans were not capped by insurance at $800, they were $3K, $5K, $10K, and more.

Now we didn't offer care that wasn't necessary. It was diagnostic. It was proven in the research articles. It was all case studies. It was scientifically based on the time frames that those tissues need to heal.

So when I talk about that average care plan value, this goes back to the math. If I can acquire a new patient coming into the practice for $120, the average care plan value better be into the thousands so that the math works.

Here's an example of some bad math. Say I'm getting 50 leads in the practice, and most of these are coming from Facebook ads. Now, with Facebook's auto-fill feature, a lot of times people unintentionally submit their info.

So we're seeing a 50% show rate, meaning only half of these leads actually make it to a scheduled new patient appointment. So, from our initial 50 leads, we're down to 25 scheduled new patients.

Now, let's talk about these patients. Since it's a low-risk, free offer, we're finding a 50% show rate for them. No commitment, no risk, right? So now, out of those original 50 leads, we're left with 13 completed exams.

Well if your average care plan value, and let's just give a better than average care plan value like $1,200. Let's say you're getting a 70% start rate or a close rate with those patients. Well, out of those 13 exams, you're only going to generate $10,920 at those numbers. That's bad math.

That's a lot of work for 50 leads to only generate $10,920. It's going to be hard to hit those seven figures. It's going to be hard to incentivize your team. It's going to be hard to build the team of A-players that you need to build your incredible organization.

So let me now give you an example of good math and how it plays out. Let's take those same 50 leads and have a much better qualification process in place. We're scheduling 80% of those leads, so we get 40 that now book new patient appointments.

And because we put them through a better process, they actually have a 90% show rate, which is where it should be. That now gives us 36 completed exams.

If we have an average care plan value of $4,200, and we close them at the same 70%, we now just generated $105,840 a month with the same 50 leads. That is how you generate 6-figure months. That is how you build a 7-figure practice.

If you're ready to fix your broken math, then you need to come join our “Practice Profits Challenge.” It's a free challenge where you get to work with me at no cost. We will literally break down your practice. We'll look at your offers. We'll show you how to attract better-qualified patients.

Plus, we’ll set up conversion metrics that you and your team can use to track progress and make improvements. We’ll implement a process to fix your math and turn your practice into the dream practice you’ve always wanted. This means boosting your revenues to not only benefit your team and your patients but also to create your dream life. So click here, and I can't wait till you join us on our next challenge.