Legal Ease Chiropractors are trying to bring more money into their practices by figuring out how to legally and ethically squeeze every penny out of Medicare (and other insurers), while still following strict regulations. The Medicare and CHIP Reauthorization Act (MACRA) is touted as the biggest thing in Medicare since the birth of Medicare itself because it promises to put more money in the pockets of chiropractic providers treating Medicare patients.
Money Management Despite the pundits’ predictions of a Donald Trump presidential win destroying the stock market, the exact opposite occurred. As CNN Money put it, “After an overnight selloff on election night, the stock market welcomed Trump with a bang as the Dow soared 257 points the day after the election.” Eventually, the Dow Jones Industrial Average would surge more than 1,400 points between the election and the end of the year.
Practice Central There’s no such thing as a “cash-only practice,” yet you hear it all the time. Doctors say, “I collect cash only, so I don’t have to deal with the headaches of insurance.” It’s understandable—insurance can be a pain to deal with. Not to mention the sky-high deductibles and copays these days. And even if you take insurance, most of your patients are likely paying out of pocket. A strict definition of a cash-only practice is one that doesn’t bill insurance nor one that accepts Medicare, Medicaid, workers’ compensation, or personal injury cases.
Clinical Concerns Chronic conditions, which patients report as lasting more than three months, often manifest over an extended period and cause problems for several years. For example, habits create posture, which over time becomes structure that ultimately affects function, movement, and performance. You’ve seen this scenario before: A patient, who has been working at a desk job for decades, comes to you with low-back pain. They think the pain is the result of their bending over the wrong way once.
Feature You see patients every day, performing adjustments as well as consulting with them on a variety of topics such as injury prevention, nutrition, health maintenance, and more. How do you manage your practice to make sure you’re providing all of these needed services to your consumers while still maximizing your time—and ultimately your revenue—to maintain a viable, successful operation? We spoke with three chiropractic consulting experts who believe in the importance of building a busy practice while still maintaining high-quality, comprehensive care in the community in which you work.