Many Chiropractors have been indoctrinated with the idea that the next new patient is going to solve all of their problems in practice.
When I first started in practice, I was operating under the same assumption as many others in practice. I hired a lot of coaches and consultants to try and increase my marketing performance, and in some ways it worked, but there was still something serious lacking. I ended up developing my own practice management solution that was based on numbers instead of theory and conjecture. One of the things that became immediately obvious to me was that I needed to work on my conversions to have a chance of success in practice. I spent a lot of time working on how I priced and packaged my care and refining how I communicated with prospective new patients. After a few months, I worked out a strategy that got my conversion rates up to 80%- all on care packages.
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I speak with a lot of Chiropractors, and the one thing that everyone stresses about is marketing. Now, a lot of Chiropractors do need help with their marketing, but one thing that I regularly find is that they already have enough prospective new patients to be profitable. The problem is that their conversion rates are terrible, they have issues with patients sticking with their commitments and they rarely have referrals. Marketing is essential to the life of any successful practice, but if patients are not converting, staying and referring, then it means little. In a matter of months, with no extra marketing, a practice can double their income by focusing on conversions.
So what’s the solution?
First, a Chiropractor needs to start with the culture of their practice. I find that a lot of Chiropractors are shooting themselves in the foot by not dedicating the proper planning and thought into the culture of their practice. Now, by culture, I don’t just mean how your practice “feels” to a patient- that’s important, but only a small piece of practice culture.
A Chiropractor should start by reverse engineering their practice. Start by thinking about how you would like your practice to operate, how many hours you would like to be in the office, number of employees, desired income, etc.- then work backward from that ideal practice.
Then, think about how you deliver your care and if it’s in line with the ideal practice you have in mind? If it’s not, then you will need to change the way you deliver care.
Next, look at the numbers with that type of care that you would like to provide and figure out a packaged care pricing structure that allows you to attain those goals. Think about your ideal demographic for patients, and try to overlap what they would prefer and what’s financially feasible for you.
Think about the number of patients you will need to see each month at the chosen price point. Then, think about how many staff members you will need to hire and in what they will handle in your practice to make these numbers happen. This stage is also the point where you need to think about the type of staff members would like to have on your team to contribute to the personality of your practice.
After you decide the staff that’s required to make your dream practice a reality, then you need to think about the internal structure of the business and management procedures necessary to manage the business. In this stage, I highly recommend installing a framework for practice management that’s based on numbers. At any given time you should be able to measure the success or failure of every aspect of your business. My clients use a proprietary system that I developed specifically for Chiropractors to measure the 18 necessary analytics of any practice- I recommend every Chiropractor use a similar system.
Once you have all of these areas in mind, then it’s time to think about your marketing strategy. I see a lot of Chiropractors approach their marketing in a way that’s not sustainable or effective. I recommend developing an in-house marketing department where you can leverage the time and energy of an employee on your payroll. Having an in-house marketing strategy gives you complete control over the process, and it allows you to refine your marketing process in a way that is sustainable with a high ROI. A good marketing department will produce a steady stream of prospective new patients week after week with no time constraints on the practice owner- only weekly performance reviews.
Once you begin to implement this new strategy, it’s important to be intentional about how you communicate with prospective new patients. This process will take some time and effort to be done properly, however, keep in mind that you should have an 80% conversion rate if it’s lower than this, then something needs to be fixed. I recommend hiring professional help to coach you through your communication strategies and performance. There is an element of salesmanship that is necessary in practice, and like any other sales person, it takes practice and knowledgeable feedback to become good at it.
As you can see, developing an effective conversion process is not a simple one-time fix- it requires completely rethinking how one approaches their practice.
All of the elements discussed will lead to better conversions in your practice with increased income and less stress on a practice owner. The ultimate goal is to have a practice that is sustainable, predictable and profitable in a way that enhances the a doctors ability to provide care effectively.
And that’s all for today!
Until next time! Wishing you the best in practice and life!
More private practice growth strategies…
This post has been adapted from the Nexus Executive Academy VLOG.
Dr. Jonathan Hyslop is a practice strategist and growth expert to chiropractors.
After a successful career as a practicing chiropractor owning multiple practices, Jonathan helps fellow chiropractors succeed in the areas of administrative strategy and management, marketing, sales, and stable scalability.