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Here
are some more comparisons gleaned from Chiropractic
Economics 8th Annual Fees and Reimbursements Survey
report:
A PROFILE OF THE ‘AVERAGE’ RESPONDENT
If you could make up a composite picture of the average
respondent, here are the characteristics you would
find:
• Doctor of chiropractic. More
than 90 percent (93.7 percent) of respondents were
chiropractors. The remaining were chiropractic assistants
or office managers.
• Male. Eighty percent of the
chiropractors who completed the survey were male.
• Middle-aged. Last year, the
mean age of chiropractors was 43.1. This year, the
mean age was slightly younger, 42.3.
• Years in practice. Respondents
have been in practice for an average of 13.4 years.
• Solo gig. Solo practice is
still the preference among respondents (75.1 percent).
• Integrated healthcare. More
respondents practice in some type of integrated healthcare
practice than last year. This year 52.6 percent have
a practice that includes at least one specialty, such
as MD/DO, massage therapist, PT or rehab specialist,
dietitian/nutritionist, or acupuncturist.
Other specialists that some chiropractors list include
naturopathic doctors, podiatrists, psychotherapists,
personal trainers, pilates instructors, nurse practitioner,
esthetician, and spinal decompression specialist.
• Few do not offer any modality.
Only 28.9 percent of respondents said they do not
offer any modality therapy. More than half (56.8 percent)
of respondents offer exercise; 55.8 percent, physical
therapy; 45.9 percent, nutrition; and 41.7 percent,
massage.
• Networks. Only 11.7 percent
of respondents accept only cash. The rest participate
in some type of network plans.
MINIMAL GENDER GAP
Most of the doctors who responded to our survey were
male (80 percent). In our 2004 survey, female chiropractors
collected approximately the same as their male counterparts,
78.6 percent to 79.0 percent. This year, female DCs
had a higher reimbursement rate than males, 80.2 percent,
compared to 79.7 percent.
However, higher rates do not guarantee more income.
The actual average value of reimbursements for female
chiropractors was about 93.3 percent of that for males.
Females collected an average $58.20 fee, while males
were reimbursed an average $62.36 fee.
MATURITY EARNS HIGHER REIMBURSEMENTS
Age seems to matter, according to survey results.
Our respondents ranged in age from 24-76, with a mean
age of 42.3 years. The largest group was the 30-39
year olds, who accounted for 34.7 percent of respondents.
The next largest group was the 40-49 year olds, 28.4
percent.
The group that had the lowest reimbursements was the
youngest: 24-29. It charged on average $58.87 in fees
and was reimbursed on average $49.89, for a rate of
84.7 percent.
The group that captured the highest reimbursement
rate (89.5 percent) was the 40-49 group. Its average
fee was $60.46, with an average reimbursement of $54.13.
However, the highest reimbursement rate does not mean
collecting the most money.
The 50-59 group charged on average $75.41 and were
reimbursed $64.50, for a rate of 85.5 percent. And
the 30-39 year old group charged on average $64.79,
with average reimbursements of $55.44, 85.6 percent.
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