Cryo for chiro (Pt 2): Business model for implementing cryotherapy
In the first part of Cryo for Chiro, I laid out safety and liability concerns with cryotherapy as a treatment. I showed that the additional safety features implemented into the Recovery XR eliminate the possibility for injury of the patient.
So, on to why chiropractors can benefit financially from therapy: here is the breakdown of the business model for implementing cryotherapy for chiropractic practices:
Chiropractors can make a large profit within just the first year of including a cryo chamber in their office. Practitioners may charge customers, say, $35 per session. Average prices are typically higher, though the price should be attractive enough for patients to agree with rather than reject. With ten cryotherapy sessions per day charged at this price, factoring in the cost of gas (about five dollars per session), the business will profit by $300 per day, and about $9,000 per month. In four to five months, this profit will surpass the initial cost of the cryochamber.
Here is a visual to summarize how much of a potential profit chiropractors may make, as well as average session costs:
The only physical requirements, aside from the chamber and tanks of liquid nitrogen gas, are the clothes required for patients entering the cryo sauna. Chiropractors offering cryotherapy must have the following items on hand:
- Robes: patients entering the cryo sauna must strip down to just their underwear. To protect their privacy, and to give them a sense of warm following their freezing session, they must wear a robe. The robe is worn when stepping in and out of the chamber. Once inside the chamber which covers up to the neck, the patient can take off the robe for the three minute session. It is best to have a few different sizes of robes, and one for men and women.
- Gloves: During cryotherapy, blood is restricted to the extremities. Users must wear gloves to prevent themselves from getting frostbite. Again, ordering a few sizes would be best. If anything, ordering an XL size is best since then any hands, large or small, will fit.
- Boots: This is for the same purpose as the gloves: to protect the extremities. These must also be an extra large size to accommodate all sizes.
- Remind the patient what they cannot wear: all jewelry below the neck must be removed, including watches and anything that can be potentially damaged by the liquid nitrogen.
Once again, Cryo Innovations has greatly reduced any liability in cryotherapy by going with the RECOVERY XR. We removed any opportunity for fatalities and dangerous situations. With this special attention to safety, as well as the potential for profit, chiropractors should look into implementing whole body cryotherapy into their practice to treat patients who need it most to relieve and heal their pain. Not only will patients enjoy pain relief, but doctors will have a unique asset to their practice that in time will generate revenue beyond the initial cost.