In this introductory video of a 12‑day series, Dr. Vince Leone outlines the first initiative for expanding a chiropractic practice in 2019. He advises clinicians to set concrete 12‑month revenue and new‑patient goals, then work backwards to define quarterly and monthly targets. He emphasizes tracking a minimal set of core statistics—new patient visits per week, average case value (revenue ÷ new patients), and cash flow—on a weekly or daily basis. Leone provides practical methods to raise average case value, such as modest price increases, adding reimbursable services, selling supplement protocols, and retailing ancillary products. He also stresses the importance of daily cash‑flow monitoring or delegating it to a bookkeeper to stay aware of financial health and adjust marketing or service efforts in real time. The video concludes with a call‑to‑action for viewers to download a PDF guide, join his group‑coaching program, and contact him for further support.
Chapters
Hi, Dr. Vince Leone here with Leone Consulting. Happy holidays. Today we're gonna go over 12 ways to grow your practice in 2019, and I'm gonna do a post a day for the next 12 days so that we can go over each of these initiatives to grow your practice, and then at the end we'll provide a PDF of everything so that you can have it as a reference guide. So let's talk over 12 strategic ways to reach your practice goals, right, without messing up what's already working, without adding too much to any one doctor's plate or any staff member's plate, while continuing to focus on what you do really well, improving patient experience and growing your practice reputation within the community. Okay. So, now a quick note. When I work with clinics that do higher volume— not higher volume— that do more niche type stuff like neuropathy, stem cell, decompression, these case fees are typically anywhere from $5,000 to $15,000. So we're not using a broadcast approach. In other words, I'm not recommending TV or radio and some of these approaches because they don't really make sense for a typical chiropractic office that's doing, you know, kind of chiro and rehab and kind of focusing more on volume. So just quick, quick thought on that, or note on that. Next. So number 1, number 1, we have to establish our target goals and the stats that we want to track. Okay, so we have to take a— this is, you know, obviously an awesome time, right? End of 2018. We have to look at What was 2018 like? What worked? What did not work? What went well? What did not go well? And write it down, right? Because we need to identify where we are at in terms of our production in practice, and then where do we want to go? And a lot of doctors say, hey, what type of goals should I set? 3 months, whatever, 1 year, 5 year, or 10 year? 12-month goals is, in my experience, the best kind of time frame because it's close enough to that we can get excited if we hit it. It's— but it gives us enough time to actually accomplish something. If you set 90-day goals, it's going to— it's tough, really tough to really accomplish anything of note within 90 days in terms of practice, right? So I like 12-month goals. So then we want to figure out, hey, goals and then stats. So goals, revenue, new patients. If we're just talking practice, those are the 2 big ones, right? Revenue and new patients. If I'm at $20,000 a month in revenue now, where do I want to be in 12 months? So now when we're under, say, $30,000 per month in terms of revenue. You know, getting significant gains, in other words, going from $20,000 to $30,000 or $20,000 to $40,000 is totally doable within 12 months. So if you're at that range, if you're at $20,000 or below, then I would say dream big, like, you know, double the practice. I mean, if you're at $10,000, $20,000 should be your goal for sure. If you're at $20,000, $35,000 to $40,000 should be your goal by the end of the year. So We have to then work backwards from that number, okay? So if we wanna be at $40,000 per month at the end of 2019, then where do we need to be at the end of the first quarter, at the end of the second quarter, at the end of the third quarter, right? And just break it down, right? So that you know, hey, that's the target that I'm trying to hit. And then you just check in monthly to see where you're at. So if your goal, target goal is $40,000 in revenue, then what does that equate into in terms of new patients? Right? So in other words, if your average case value is $2,000, you're going to need 20 new patients a month. So it's just numbers, right? So figure out what your average case value is, which is your total revenue divided by your new patients. So that's going to give you your average case value, and then just divide that into what your goal is. And then you say, hey, I want to be at You know, $40,000 a month, that's going to equal, say, you know, then it's, say your case value's $1,000, which is pretty typical in a chiropractic office. I need 40 new patients a month. Where am I at now? I'm at 20 new patients a month. I make $20,000 a month. So, and then say, hey, okay, at the end of first quarter, because it's hard to say, well, at the end of January, where should we be at? So in this frame of mind, I would say Let's look at quarterly. Okay, this is where we should be at in terms of these goals. So in this case, 25 new patients, $25,000 a month consistently at the end of the first quarter. So set up your target goals, set up your 12-month goal. Where do you want to be? Work backwards and then take a look at your stats. Hey, what stats do I need to focus on? I like, you know, in terms of obviously new patient visits per week, Your PVA is a good stat to keep track of, but you don't need to keep a ton of stats. The biggest one is new patients, right? But then you want to know what your average case value is, because if you can expand it, if you can increase your average case value, it's going to make everything so much easier for you in life. Now, how can you expand your case value or increase your case value? If your case value is, say, $1,000 and you haven't raised prices In a long time. Well, inflation goes up 3% a year, right? So that means for us, roughly every 3 years, we can increase our prices by about 10%. So if your adjustment fee is $50 and you haven't raised your prices in a while, go up to $55. That's a 10% increase. You just gave yourself a raise. If you're not at— if you're not doing like rehab, well, maybe you add in, you know, one— Say you have one core strengthening exercise that you love. Well, start adding that into all your patients and increase your per-visit charge and as a result, your per-visit collection. Maybe to increase your average case value, you're going to start recommending vitamins, you know, an immunity vitamin protocol. You know, I always like, if you're going to do supplements, don't sell it one by one. You got to do a protocol. You got to do— Like a hair, skin, and nails protocol for female patients is awesome. Or if you're going into the wintertime, this is your, you know, flu barrier protocol, right? Or your immunity boosting protocol, and you have 3 supplements in there. That's one way you could increase it. You could start, you know, have your favorite pillow out front. Sell your favorite pillow, and that's going to increase your overall case value. Whatever it is, just start thinking about it. Hey, how can I increase my case value? So when we start to think about it and ask questions, that's when we start to get answers. So that is, you know, highly recommend that, right? Either increase your fees, look at another way that you can increase your case value, or both. I mean, hey, why not? 'Tis the season. So that is number 1, establish target goals and the stats that you're going to track. I know this seems basic, But this is where we have to start. We have to start with our end goal in mind, and then we're going to work backwards. And then we just have to need a few basic stats that we're going to track weekly. Look at your stats weekly. And by the way, cash flow. Sorry, I can't believe I left this out. Cash flow. I would be looking at cash flow daily. Daily. How much money did we take in and how much went out every day? If you don't want to do that, then have your bookkeeper do it. Say, hey, I want a weekly report of how much money I took in and how much money went out every week. So I want that report at the end of the day Friday. And then they know they need to come in for 20 minutes at the end of Friday, do this stuff for you, and they just email it to you, right? Or they don't have to come into your office. If you have an online system, they can figure it out all there. But the point being is, know your money. Get very comfortable knowing where you're at on a, if not a daily, but a minimum monthly or weekly basis. You got to have a real good handle of what your cash flow system situation looks like. You don't want to get to the end of the month and be like, oh shit, I didn't hit my goal. No, you want to know each week because if at the end of the week, your first week you're killing it, then I'm not saying, hey, you let your foot off the gas. You're like, hey, My target, you know, for this month is X, maybe I can exceed that. Or if halfway through the month you're lagging behind your goal, then it's like, okay, I need to ramp up. I need to, you know, do more social media or whatever it is. We'll get into some of these initiatives later. But the point being is you'll know as opposed to not knowing, right? Not good. Not good. So that is number 1 out of the 12 initiatives to grow your practice in 2019. I'm Dr. Vince. I hope this has helped. Leave a comment, shoot me an email, drvince@drvinceleone.com. And, and of course, I have an awesome 2-week trial in my group coaching, what's called DC United. Go check that out at www.levelupmypractice.com. Love you guys. Happy holidays. We'll talk to you tomorrow. Bye-bye.
