Chiropractic Coaching: Why Most DCs Never Earn $100,000/Month
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Chiropractic Coaching: Why Most DCs Never Earn $100,000/Month
Hello everybody and welcome to Thrive in Five. I’m Dr. Dennis Perman and I’ll be your chiropractic coach for today. The subject matter for this Thrive in Five is why most DCs never earn a hundred thousand dollars a month. Now, you probably have noticed a a pattern or a rhythm over these last several weeks of pointing out the hundred thousand dollars a month practice as a symbol of thriving in practice. But it’s a metaphor. Some people make a million dollars a month, some people will make $40,000 a month, some make a lot less, or a lot more. It’s not the point you need to have a target to aim at. And we’ve selected a hundred thousand dollars a month as a reasonable target for many chiropractors to pursue, and yet most DCs never earn a hundred thousand dollars a month. Why not? Well, first, there has to be a consciousness around this.
Every bit of success is about being and doing. If you want to have a hundred thousand dollars a month practice, then you have to be the kind of chiropractor who would have a hundred thousand dollars a month practice and then you have to do the things that that kind of chiropractor would do. So it’s not a mystery. A lot of people have done it before you, but you have to be willing to pay the price, and the first price is at the B level where you can actually see yourself at a hundred thousand dollars a month.
Now how does that work? Well, you could have one really rich patient each month that you adjust once a month and pays you a hundred thousand dollars. Or you could have four really rich patients that each pay you $25,000 a visit once a month, or you can have that one really rich patient pay you $25,000 once a week.
Of course that sounds a little silly to you, even though it isn’t. You’d be amazed what’s out there. But the opposite is also true. You could see a hundred thousand patients at a dollar a piece, or 10,000 patients at $10 a piece. Well enough math. The idea is to develop a consciousness around seeing a hundred thousand dollars practice. You need to first begin to think, how on earth would I do that? So that you can be the kind of person who would be doing that, but then there’s lots of do steps that you need to do as well.
Now all practices are based on the optimization formula where you see a certain number of new patients, a certain number of times, your PVA each visit generating a certain amount of money, your ova and those numbers would need to add up to a hundred thousand dollars.
So if you collect a hundred dollars a visit, then you need to see a thousand visits. A hundred times a thousand is a hundred thousand. If you wanna see a thousand visits, then you could see 40 patients, 25 times each, 25 patients, 40 times each, 20 patients 50 times each. Or again, you could do the math however you like. The key is to understand how this is actually done, and that’s the reason why we created the Practice Growth Calculator. The Practice Growth Calculator is a tool that you can use in order to plug your statistics in to figure out where you are and where you’d like to get to. So the practice growth calculator can be gotten to simply by running your camera over this QR code, and it will take you right to a website, a landing page that has the Practice Growth Calculator on it.
All you need to do is put in a few simple statistics. It takes less than a minute, and they’re all statistics. You know, things like how many days a week do you work and how many new patients a month do you see? It’s easy stuff. You’ll be amazed to discover that there are an infinite number of pathways to a hundred thousand dollars a month, and you can choose one, or you can work on several at once, and you’ll be astounded at how directly you can pursue this otherwise lofty goal. Now, the combination of being and doing is what creates having. So if you are not yet at that a hundred thousand dollars mark, but you aspire to being there, now the fund begins. You have to take a look at yourself and see, am I the kind of person who could create a hundred thousand dollars a month practice?
Do I have the beliefs? Do I have the values? Do I have the code of conduct? Do I have the behaviors and habits? You see, people who are very affluent do certain things, and it isn’t always the formula that you think, oh, you have to get up early in the morning and work 20 hours a day. It isn’t necessarily like that. It may be or it may not be. The beauty of it is there are many ways to get there, and you have the opportunity to create exactly your way That’s gonna be fun. Now, at the due level, likewise, there’s an infinite number of things that you can accomplish. You can aim for a certain type of new patients that you love taking care of that you know tends to comply with your program of care. Or if you’re a generalist like I was, you prefer a wide spectrum of different kinds of new patients and you pursue all different kinds from kids to older people, from athletes to sedentary workers, all different kinds of people, men, women, kids, everybody.
I liked a variety of different kinds of patients. You’ll develop methodology of being able to cause them to comply with your program of care so that they are retained for your practice. This concept of compliance and retention measured by PVA is one of the secret keys of developing a high level practice. Because big volume cannot only depend on new patient flow. Eventually you burn through the demographic that you’re interested in. But when you take that group of new patients and you specifically develop a method of training them, of teaching them to comply with your program of care, not only do you develop an extraordinary practice, but they have an extraordinary experience with you. And their excellent health not only causes them to comply, it causes them to recommend you to others. So this is a method to create a hundred thousand dollars practice that engages you at the being level and at the doing level.
Now, if it was as simple as just listening to a five minute Thrive and Five, everybody would be doing it. If you want more information about this first, go to the Practice Growth Calculator and fill it out so that you can see very clearly where your um, uh, strengths are, where your weaker areas are. Just run your camera scanner, your, your, your phone camera over this QR code, and it will take you right there. But with or without the Practice Growth Calculator, you’ll wanna develop a consciousness where every day you affirm and visualize yourself at this level. If you use the statistical approach that I just displayed for you, and you combine that with the esoteric approach of becoming the kind of person you would be at your best, then you too can have a hundred thousand dollars a month practice.
Join the fun. There’s a lot of people out there who need you, and you also want to make sure to experience the successes that are available to you. A hundred thousand dollars a month is not beyond you. Get on it, be it, do it, and you’ll be amazed at the results. Thank you for watching Thrive in Five. This is Dr. Dennis Perman signing off for now.
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