Chiropractors have a need to maximize their profits and revenues just like any other business person. In fact, many people forget that medical professionals, including chiropractors, are in fact, business people. Chiropractors often look at various ways to improve their bottom line such as implementing scheduling and billing systems and other measures of efficiency to increase their bottom line. Surveys and studies have shown though that one possible way for a chiropractor to increase their profits, is to increase their revenue through complementary products and services.
One way that many chiropractors are increasing revenues is by offering other alternative health services such as acupuncture and massage. This makes sense because recent patient surveys show that many patients see their chiropractor as a trusted source of information for alternative health techniques. This provides an excellent opportunity for chiropractors to diversify their services by offering add-on services such as therapeutic massage.
The best way, however, for a chiropractor to increase their revenues is to sell nutritional supplements. In fact, 75 percent of chiropractors currently sell supplements to their patients as part of their practice. And patients are much more comfortable talking to their chiropractor about using nutritional supplements than their primary care doctor. According to one study, this may be because primary care doctors are hesitant to recommend nutritional supplements because they are not trained in the benefits of a number of them. In fact, in one study that quizzed primary care doctors on the documented health benefits of a number of supplements, the average score was below 60%. This represents an incredible opportunity for chiropractors to fill a need by advising their patients on the benefits of various supplements.
Additionally, selling nutritional supplements can represent a longer term benefit to a chiropractor's bottom line. Patients will develop a rapport and feel comfortable discussing alternative health interventions with the chiropractor that recommended a supplement to them. This will often result in additional repeat business and referrals, both of which improve profits.
Finally, to be truly successful at selling supplements, a chiropractor must consider the patient and recommend supplements based on their history. For example, fish oil has been shown to reduce triglycerides. Using a patient's medical history, a chiropractor may offer a fish oil supplement as a preventative step. Stocking a high quality line of supplements allows the chiropractor to not only recommend a supplement to their patient but to sell it on the spot and send it home with them. Much like a primary care doctor sends patients home with drug samples. By buying supplements wholesale and incorporating them into their practice, a chiropractor can earn an appreciable revenue stream.
Boost your chiropractic practice's bottom line by incorporating additional alternative health practices including supplements. Surveys have shown that patients have a greater degree of trust towards their chiropractors when it comes to alternative and complementary health techniques. Selling a high quality line of supplements can help patients maintain better health while earning decent additional revenue.
|Additional Revenue Streams Help Build a Successful Chiropractic Practice |
By Neil Butterfield
|Neil Butterfield is the owner and founder of Mineralife LLC. Neil has been actively involved in the health and fitness industry for over 10 years and has studied the importance of minerals to human health extensively. He is currently working towards obtai|