Business Talk: A de-listing of chiropractic – would it affect you?

Have you ever imagined what life would be like for you if extended insurance companies, auto insurance companies and provincial health insurance ceased to exist? I have thought about it many times. In fact, each of us should be modelling our practices to be equipped for such an occurrence. It’s not that I expect de-listing to happen, it’s just that being recession proof is never a bad idea. Remember, most services that exist are out of pocket expenses. Of these out of pocket services, there are about 10 times more competitors compared to chiropractic. In Canada there are about 10,000 chiropractors. But there are 170,000 restaurant owners, 125,000 lawyers 109,000 real estate agents, 86,000 electricians and 13,000 hairstylists in the GTA alone. Now that’s competition.

None of the above is covered by insurance. If you need their services, you need to pay for them flat-out. If insurance no longer covered chiropractic services, some chiropractors would go out of business. Although many restaurants, hairstylists, real estate agents and even lawyers go out of business every year, they do not go out of business because the laws changed or because insurance companies changed policies. They usually go out of business because their product simply isn’t good enough.

I interviewed Andy Sernowitz, author of Word of Mouth Marketing: How Smart Companies Get People Talking. He told me that “no amount of advertising will make up for the fact that your product or service sucks.”

COMMODITY vs A VALUE ENTITY
Commodity to me is something like gasoline: gas to me is gas. Many people view chiropractors the same way. The problem is that there are likely many chiropractors that assess and treat the exact same way. For the most part, because that’s what they were taught to do in school. That’s not a bad thing if that approach yields outstanding clinical results. However, if it doesn’t yield results that “wow” the patient then it may be time to re-examine your approach.

The authors of Experience Economy (Pine and Gilmore) contend that focusing on stimulating the five senses are key to providing an experience, as opposed to providing just a visit to your office. What do your patients see, hear, smell, and most importantly, feel in their office experience?

I’ve also interviewed Michael Port, the author of the book Booking Yourself Solid. The one thing that stuck with me over the years was that he said: “You must offer what your potential clients want to buy, not what you want them to buy.”

So, are all of your patients going through the same assembly line: history, assessment, and report of findings? Do all your patients go through the same routine of spinal adjustments? Or, is your approach customized and flex with the needs of the patient as influenced by your focused history and assessment? Port also suggested that people look for investable opportunities. Port defines an investable opportunity as a feeling, on the part of your patient, that the return they receive is greater than the investment they made.

Port writes that although respect is important, there is a direct link between how much someone trusts you and how willing they are to use your service. I believe that trust and respect join forces the instant your patient recommends your services to others. A referral to your care speaks volumes about how much your patient values their professional relationship with you.

OBSTACLES TO BEING BOOKED SOLID
Being unable to simplify
One of my favourite quotes is from Albert Einstein, who said: “If you cannot explain it simply, you don’t know it well enough.”

Port believes this is a significant barrier to business owners everywhere, especially chiropractors. “A primary reason that many service professionals fail to build thriving practices is that they struggle to articulate, in a clear and compelling way, exactly what solutions and benefits they offer.” Personally, I make it a point to explain what I am doing to each patient so that I can relate it to anyone in terms they can understand. I do this by using practical everyday objects that people can relate to, too. When I explain the effects of medical acupuncture on the nervous system, I compare it to re-setting a computer by pressing “control, alt, delete.” The acupuncture resets the nervous system. When you use familiar examples, patients become more comfortable and you have earned their trust.

Personal issues
When speaking with Michael Port he said that in his experience, a business problem is almost always a personal problem in disguise. These obstacles affect our concentration, energy and overall health. It can be difficult to overcome such barriers but until they are corrected or accepted your practice will not become recession proof.

Unwillingness to change
Unfortunately, unsuccessful practitioners are not looking for solutions that change the way they practice, they want solutions that fit the way they practice. Failing businesses are failing because there is not only a shortfall on the economics side of the equation but also a failure in the work ethic, the culture, and the vision of the practice. Your first concern should always be your patient. You need to ask yourself: Am I giving my patients the results they want and I am doing it over a period of time that will impress them?

If chiropractic were to be de-listed, you would be fine as long as you made yourself recession-proof.

Anthony LOMBARDI, DC, is a private consultant to athletes in the NFL, CFL and NHL, and founder of the Hamilton Back Clinic, a multidisciplinary clinic. He teaches his fundamental EXSTORE Assessment System and practice building workshops to various health professionals. For more information, visit www.exstore.ca.