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Navigating the Business of Chiropractic: Understanding Your Practice's True Worth
Manage episode 377983234 series 2163778
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Join us for a thought-provoking episode of the Schofield Chiropractic Training podcast, where your hosts, Dr. FJ Schofield and Dr. Fred Schofield, roll up their sleeves and dive deep into the often-overlooked, but critically important, world of chiropractic business.
As chiropractors, it's not just about the art of adjustment; it's about understanding the financial health of your practice. In this candid conversation, we challenge the status quo with fundamental questions: Do you truly know your overhead? Do you grasp the actual cost of providing an adjustment? Are you aware of the expenses associated with acquiring a New Patient? Or are your fees determined by what the town down the street is charging?
Intriguingly, we explore the timing aspect of practice management. Do you bring in enough revenue to comfortably cover your overhead, and is it a stressful 28th-day scramble or a smoothly managed 10th-day accomplishment? Understanding these financial dynamics can make all the difference in your practice's sustainability and your peace of mind.
But it's not all about the numbers. We also emphasize the concept of Taking INTELLIGENT action. You may have all the tools and knowledge at your disposal, but it's the implementation that truly counts. What value are you delivering to your patients, and how does this align with your practice's mission?
This episode is a must-listen for chiropractors seeking to build not only successful but sustainable practices. We'll equip you with insights into financial awareness, pricing strategies, and the transformative power of delivering value. Tune in and discover the keys to unlocking the full potential of your chiropractic practice.
Remember, it's not just about the adjustment; it's about knowing the business of chiropractic inside and out. Join us on this journey to elevate your practice to new heights.
Note: Success in chiropractic practice extends beyond clinical skills; it requires a keen understanding of business fundamentals, pricing, and delivering exceptional value to patients.
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