How to Win in Practice in 2025!

Hey, it's Dr. Vince Leone here from Specialized Practice, and I wanted to wish all of my email subscribers Happy New Year. It looks to be a fantastic year, and I want to make sure that you're in the right place. At Specialized Practice, we add doctors— we help doctors add and grow high-value cash services. We focus on herniated discs, treating it with spinal decompression and other therapies. We focus on chronic knee pain and chronic foot pain due to either peripheral neuropathy or plantar fasciitis. So chronic back pain, chronic knee, and chronic foot. These are high-value cash services, and there's a way to do it right and there's a way to do it wrong. And that's what we teach, right? And that's how we provide the coaching, the systems, the clinical training, the clinical protocols, the staff training, the marketing. It's, it's literally an end-to-end solution. And so what I try to do in my weekly emails to all of you doctors is to provide help and guidance on these, you know, from, uh, you know, obviously you're not a private client, so we're not able to work with you one-on-one, but just to, you know, help guide you if you are offering these services or if you're thinking of offering these services. So if this is not something that you're interested in and you're just, you know, you're doing traditional chiropractic or straight chiropractic, or you're not even a chiropractor, then please hit unsubscribe. There's no reason for you to get emails from me. We really are focused on doctors motivated to grow their practice, add these services, and really serve at a higher level. So that's the first thing. I just want to make sure you're in the right place still. And if not, no worries. I'm sure there's other doctors and coaches out there that you can subscribe to. And get value for whatever you're interested in. This is what we're interested in and love doing. And so again, that's, that's why I do emails every single week, because I really enjoy what I do. I did it in practice at a very high level, and now I help doctors do what we did. So, looking at 2025, I really feel this is a year for growth, and I feel like this is an excellent time to lean in. to growth and to get aggressive. And I feel like those doctors that are going to sit on the sidelines or they're not going to aggressively market and try to grow their practice, they're really going to get left behind and just kind of picking up the crumbs. In over the next 5 years, you know, from now to 2030, I believe, in my opinion, and what I'm, you know, kind of seeing as I look at the data and the trends is that We're going to have the middle class of chiropractic kind of get wiped out, right? And there's going to be, you know, all the people competing with like The Joint, and then you're going to have the high-level experts that are charging, you know, that upper tier. And so, I feel that, you know, the challenges that are facing doctors right now is tons of competition, insurance reductions, or they make you jump through tons of hoops, or they're, you know, doing preauthorization for care and they're taking you out of the loop. Um, that it— and it's just becoming such a frustrating, uh, experience working with insurances. Um, uh, it's going to continue to reduce your bottom line. It's going to continue to reduce your role as a doctor in the doctor-patient relationship because the, the patients, if they're so tuned into insurance and they're so dependent on insurance, That they're going to— hey, what does my insurance cover? Right? That's what they say to a generalist. What they say to a specialist is, can you help me? Big difference, right? So that's what we do, right? We create specialists so that patients are drawn to them like bees to pollen versus someone just, you know, chiropractor near me. Googling that or looking on their insurance, who takes my insurance? So, that's one of the big challenges I see over the next 5 years. Because insurances are never going out of business. They make too much darn money. But will they continue to make it more and more difficult for chiropractors to make a decent living? 100%. That's the goal, right? Because the less they give you, the more they make. And that's always their goal. Well, premiums go up. So, you know, the only way to fight the system is to take yourself out of the system. Now, one thing you can start doing now is to take a look at if you're still taking insurance, and I'm not saying get out of insurance. That's not what I— what I am saying is there are still some good insurances and there's some bad ones. So, do an audit, right? It's the beginning of the year. Do an audit and look at all, hey, Who are all the insurances that just suck? We hate working with them. They don't pay us diddly squat. And get out of them. So, and then stay in the ones that are, you know, still worthwhile. That's the first step, right? In terms of reducing your reliance on insurance and optimizing your practice. The second step is adding and growing a high-value cash service so that you can complement, you know, if you're making $50,000 a month in insurance, that you can complement it and make 50 grand a month In cash. I think that your goal over the next 3 to 5 years should be to be making just as much, if not more, revenue in cash services as insurance. Okay? Then if you do that, you're going to prepare yourself properly for the future. I believe the future of chiropractic is specialization. High-value cash services, serving a patient, That doesn't want drugs and surgery, doesn't want the generalists on every single corner. They want the expert, right? And they want to, you know, they have a disc or they have a knee or they have some either peripheral neuropathy or plantar fasciitis, and it's affecting their life in such a big way negatively that they have to get it resolved. And they want to work with an expert. That's the future of chiropractic. That's where we should be. In my opinion, and that should be our place in the healthcare hierarchy. Right now, we're at the bottom of the totem pole, but things change, right? Underdog comes back, and I see that for some doctors that choose to take that role on. That's what our doctors are doing at Specialized Practice. They're doing very well. So the benefits of adding a high-value cash service obviously increase cash revenue. But also reducing the wear and tear on your body. We literally only have so many adjustments in us, right? Your vehicle, does it have 100,000 miles on it, 200,000 miles on it? Who knows? Depends on how you take care of it. But it only has so many miles on it, right, before you got to trade it in or junk it. Well, we only have so many adjustments in us. And to be able to extend the life of the number of adjustments. We got to start reducing the number of adjustments. Not saying reducing the amount of care that we give, but when you add a high-value cash service, start to reduce the number of adjustments that wear and tear on your body, right? How many doctors you see limp into conferences, or they have wrist issues, shoulder issues, knee issues? It's repetitive stress. And if you don't start reducing that repetitive stress, you will pay for it, right? Physically. And your practice will dwindle. That's where cash services come in, right? Because we use staff, systems, and technology to deliver patient care, right? More free time. With more cash, you're able to hire more team Which frees up your time, which you can either go do other things that you love and enjoy doing, spending time with family, going on vacations, doing hobbies, exercising, whatever that is. You know, when you can build more team, so when you can increase revenue, build more teams, serve more patients at a much higher level and get paid accordingly, you have more free time to do the things that you want to do outside of business. And that's a beautiful thing. Allows you to sock away more money for retirement. Think about retirement right now. Are you prepared? Are you on track? Do you have a plan? More free time, more revenue allows you to be better prepared and to plan accordingly for retirement. Don't practice for 30 years and not have a golden parachute. You should be building your golden parachute now. And if not now, you better start tomorrow. And there's no easier way, faster way to build a golden parachute than with high-value cash services. And finally, more opportunities in business, right? So, as you increase your level of service, increase your revenue, your reputation and your presence in your community goes to a higher level. Your opportunities will grow, whether it's working with other businesses in your community, um, uh, opening other businesses, investing in, you know, real estate or other businesses. There's tons— there's more opportunity with more revenue. There's— I mean, that's obviously a very, um, plain fact, right? But When you're kind of stuck in the grind and you don't have a lot of extra revenue, you don't realize all the things that you're missing, right? So that's why these videos and these messages are so important, because I want to reaffirm to you, hey, if you're not playing at these high levels, A, it's a lot more fun, B, there's a lot more opportunity, and C, if you're not doing it, you're— you don't even realize what you're missing. So I'm telling you This, this is available to you, right, if you're willing to put in the work. Um, and then finally, your practice will be more valuable, right? You'll have more equipment, you'll have systems, you'll have protocols in place, right? So when, when a doctor comes in to buy a chiropractic practice, a regular chiropractic practice, they're just buying a bunch of files basically. Half the patients leave. So versus if you buy a practice that has a solid Chiropractic practice and an associate that comes along with the practice, and you have one high-value niche that's generating $30,000 to $50,000 a month and another high-value niche generating $30,000 to $50,000 a month, and you have the systems and you have the staff and you are selling the machine, that is a lot different. That is valuable. That can sell for a 2 to 5x multiple on your net revenue or EBITDA. Because it's an actual business. No one wants to buy a job, right? People want to buy a business, right? People with money want to buy a business. People that are desperate will buy a job. Okay, so who do you want to sell to? Do you want to sell to the people with money or someone that is, you know, struggling, right? So The time is now, and there's no better opportunity. Just like, hey, when was the best time to plant a tree? 20 years ago. Next best time? Right now. So, if this is you and this message is resonating with you, one, I want to, again, thank you for being a subscriber. Two, I invite you to become a client, right? And go to the next level. Because what I have seen is the vast majority of doctors, and I would say 80, 90%, that have a decompression table or have a laser or have a shockwave, They're not experts and they don't really know what they're doing, right? It's working to some degree, probably because patients need the care, but it's not— you're, you know, 9 times out of 10, you are not maximizing the opportunity and the value of that equipment because you're not an expert. It's like if I went and bought a fancy race car, that does not make me a race car driver. That makes me a guy with a fancy race car. Same thing with this equipment, right? Just because you buy the equipment does not make you an expert. And I say that with love. And I talk about this, making 2 investments, one in the equipment, the second one in yourself, and both will pay dividends for a very long time, the rest of your career, in fact. So if this resonates with you and you are interested in taking your practice to the next level, taking your skill sets to the next level, taking your business expertise to a next level, and you want to join, in my opinion, the preeminent community of doctors in our profession, I encourage you to set up a call so that we can discuss if we would be a good fit to work together. You can do that. Go to drvinscalendar.com. So that's drvinscalendar.com, and you can set up a time with me. So I wish you the best in health and wealth in 2025. I'm Dr. Vince Leone, and we'll be seeing you in your inbox as I continue to send out value every single week of this year. And if you enjoy video trainings, you can always check out my YouTube. Just go to YouTube and search Dr. Vince Leone Specialized Practice. I have tons of free training there as well. All right, God bless. Thank you.