Dr. Vince | Toss Your Wellness Plan, Use this Instead...

Hey guys, Dr. Vince here, and I wanted to do this quick training for you on how to create a recurring revenue stream in your practice. So typically this is called a continuity program, and, you know, companies like Amazon, Netflix, Microsoft, they all have devoted time, effort, energy to growing these continuity programs. For Amazon, it's their Prime package, right? It's about $100 a year. Netflix, it's $10 a month. Microsoft, you know, they have their Microsoft Office 360 that they charge you like $11 a month. So it's called monthly recurring revenue. And the beauty of it is that When you enroll customers, clients, or patients into these programs, they pay you every single month. You deliver value every single month, typically in excess of what they invest with you. What this does, it's just predictable revenue. In chiropractic, we have what's called our wellness programs, right? There's 2 things wrong with the wellness program. One, no one knows what in the world wellness means, right? It's a little different to everybody. And some people, it may be, well, I'm out of pain. Some people may be, well, I'm not sick. Some people may be, well, I'm at the level of a triathlete. It's different for everybody. And frankly, number 2, no one really associates a chiropractor with it. The common populace thinks of chiropractors and neck and back pain. It's just reality, right? We can either bury our heads or we can try to actually work with them and speak the same language. Here's what they understand based on previous experiences in their lives. They understand maintenance. They understand they need to maintain their vehicle because they have been told over years and years and years they have to get an oil change every 3,000 miles, right? They know they need to maintain their teeth. They have to go in and get their checkup every 6 months. They know they need to maintain their home, otherwise it's going to go into disrepair. So, they understand maintenance, right? So, if we position our product and service in this regard as maintenance, we eliminate that first barrier, right? Because it's not confusion that they start to think immediately. They think, okay, okay, so I need to maintain my body, maintain my health. They understand the concept already. They should go to the gym, they should take supplements, they should eat well. So, so how can we do this? And what I posted here is how to earn an extra $100 this month. Not very exciting, right? But next month, $500. And by the end of the year, $6,000 if you just follow this plan. And, and so here it is. What we're going to do is create a VIP Health maintenance plan, okay? And you're going to offer it to all your patients when they finish their care plan, or they may be the type of patient that kind of comes in once in a while, right? And you— now you need to make it a little sexy, right? So you want to throw in an adjustment, maybe a massage, maybe, you know, a supplement of some sort. You may have, you know, kind of VIP access to the schedule, or they maybe they have your email address or they have your phone number, they can contact you if there's an emergency. So typically access is what people really like, right? So, and the research has shown that in every population of buyers, there's about 10 to 20%, well, 15 to 20% that want a VIP experience, right? So if you're not offering that to them, then, then there's There's no way to get it, right? So we need to at least offer this, right? So say you get, you know, I don't know, 20 new patients a month. That's typical, right? Most offices will get about 20 new patients a month. Our goal is to start offering this over time to these people. And so like this month, just start out— like, first of all, you gotta create your plan, right? What are you gonna include in it? And then what are you gonna price it at? I would say anywhere from $97 to $197. Okay. Right. So, and then this is gonna be recurring revenue. So you will need an online merchant account. I would recommend Stripe, stripe.com. And what this will do is they'll give you a credit card number, you put in that information, and you create a subscription plan of $97 a month or whatever. And every month on the 5th or the 20th or whatever day you determine, it will charge their account for that amount. Now, make it official, right? Type it out, make it look nice, put it in a leather binder, and then present it on their last visit of the care plan. Hey, Ms. Jones, now that you're— we know we got you better, we wanna keep you better. This is our VIP Health Maintenance Plan. I'd like to go over that with you, and if you wanna do it, awesome. If not, no big deal. It's not a hard sell, but you're going to offer it to them. And so— That's detailed out. Put it on letterhead and make it look all nice, and then just start offering it to people. So this month, we'll say February, start offering it to people that are finishing care plans and to people that are just kind of coming in randomly, right? And maybe one person takes you up on it, so you make an extra $100. Well, you're gonna get a little better with your presentation, you're gonna streamline things a little bit, and then so next month, in say February, or sorry, March, you'll get 5 people to sign up. And so the goal would be to get 5 people to sign up every single month, right? So you're not spending any more marketing dollars, you're not really investing any more time. These patients are the ones that are not in pain. They're here because— or they're coming in because they're getting great results and they really love it. So they'll typically refer people. And so by the end of 12 months, if you just stick with that 5 people a month, you'll have $6,000 in recurring revenue. I mean, that's not terrible, right? I mean, you're not— and that doesn't include any referrals or any of the people that they send in. And then, so if you just, you know, let's play the long game here. In 5 years, that's $30,000 in recurring revenue. Now, are people gonna drop out of it? Of course, it's called churn. But when you deliver value and you do a really good job, that churn rate can be really low. 5%. And hey, if you get good, or say you, say you get 40 new patients a month and you sign up 10 people a month, you know, it's— the numbers add up significantly. But if we just do this, 5, you enroll 5 people in your VIP health maintenance plan a month, at the end of 5 years, you're going to have in the neighborhood of $30,000 recurring revenue that you have to spend no money on, no marketing dollars. They're the best patients in the world. They refer people in. I mean, life is good, right? So that's what I recommend. This is the VIP Health Maintenance Plan. This is something I do in all my training. And look, if this is something interesting to you and you're like, hey, that actually makes sense, I kind of like that idea, check out thepracticeaccelerator.co. This is a A training I did with basically going through the top 3 secrets of million-dollar practice earners. And it's super valuable information. You know, our practice does 7 figures. I work with, as a consultant, 2 doctors that are doing 7 figures. They just think differently, right? I mean, it's literally the 1% of the industry, and they just think differently. And I kind of distilled— obviously there's a lot of stuff that they do differently, but I distilled it into 3 main things. I go over that in that training. Again, that's at thepracticeaccelerator.co. If that's interesting to you, check that out. Regardless, guys, dig into this VIP Health Maintenance Plan. You will thank me literally just in the next few months because not only are you going to be making extra money, you're going to be having these people in your practice that are— they're just loving it, right? They're loving it. They're loving that they're staying healthy, and limber, and pain-free, and energetic, right? So implement this. I'm going to post this on my fan page, so if you missed any of this, you can go back and check that out. Anyways, I'm Dr. Vince. Have an awesome rest of your day. Thank you, Dr. Leone.