Profitable Clinics: The New Model
The old way to run a profitable chiropractic or therapy clinic was the high-volume model.
In the high-volume model, each practitioner crams overlapping appointments into their schedule. They have three or more patients booked at once. One patient receives manual therapy while another is on the TENS machine, and a third sits fills out forms or waits. Big clinics follow this model. And it works.
But more and more clinicians tell us, “That’s not why we got into this business.”
A growing number of chiropractors, DPTs and physiotherapists are working through our Incubator program. Their goal is to build a real business out of their clinic without reverting to the high-volume model. Every clinic is different, but here are some of the options we mentor them through:
The prescriptive model.
The largest problem in most clinics is an unpredictable revenue stream. Most clients aren’t long-term, and you’re always dependent on variables beyond your control.
You’re the trusted expert. When you meet a client, they’re usually in crisis, and they’re counting on you to solve their painful problem.
Your duty is to tell them the best possible answer, and then set a timeframe for completion. But it’s not enough to say “Let’s meet for 5 weeks” or “This will take around 10 sessions” and then turn them loose. Instead, you need to schedule followups and change the client’s prescription based on their progress. “What do you want NOW?” is the most important question in any service business, and “What can I help you with next?” is a big one in therapy.
The stratified model.
Your clients need services beyond your primary one. Many successful clinicians add complementary revenue streams, like massage therapy, cryotherapy, infrared saunas, or even gym access…but which should you use? How do you determine what your clients actually NEED, and which will be the best use of your space? A mentor can guide you through the process to make the best decision.
And, most importantly, your clinic needs to make money without you there. That means diverse revenue streams. It means cash flow assets so you can take a vacation–or retire.
The subscription model.
Many clinicians now understand the value of a cash-based system, even if they aren’t sure how their clients will pay for it (they will, and we’ll tell you how.) But the TOP clinic owners are using the TwoBrain subscription model to stabilize their cash flows, and help their clients stop problems before they start. Why wait until a client is in crisis to see them again? A monthly rate and appointment will keep them out of trouble (and you, too.)
The group model.
When a client finishes their first intensive phase of treatment, what happens next? They might not need your personal attention…but they still need a way to buffer against recurring pain. That might mean group yoga classes, or coached fitness programs, or even a group stretching class. How do you build, price and promote these classes? How do you build them into your model? A mentor can tell you (and it’s really simple.)
The premium model.
Your current average client might not want a premium service. But some clients will. Are you offering more than triage and checkups?
What if a client could visit you every month to have their health evaluated? What if they had you read their blood tests every quarter; measure their body fat monthly; and check them for problems?
This service is so valuable that it’s almost our duty to offer it. But few do, because they fear their clients won’t pay for the value. Some clients will, if it’s available. A mentor will tell you how to build a premium service, and how to offer it in a way that lets you feel good.
Of course, most clinicians are also entrepreneurs. So we also cover staffing, client retention, sales, marketing, standard operating procedures, and all the rest in the Incubator. It’s a step-by-step, one-on-one mentoring process, and our clients work with mentors who own successful practices.
The high-volume model has been around for decades, and it works. But it’s not for everyone. If you’d like to talk with us about how to build a clinic that gives you financial freedom without a huge client load, book a call here.
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