Chiropractic Business Tips

Finances Complying with federal tax rules cost Americans $265 billion in 2005, or 22 cents per dollar collected. Despite that financial burden, those same laws can also ease the financial “bite” you face when compelled to make changes to your practice or to the way you operate. The costs of making improvements to any business asset, regardless of whether those changes were mandated or not, is a capital expense, because the improvements often add to its value, or adapt it to a different use.

Marketing Pregnant women need chiropractic. They go through hormonal, postural, and emotional changes in pregnancy, and their nervous system does not function optimally. Fulfilling this need can be an exceptional way to grow your practice. Creating and promoting a pregnancy chiropractic practice may be easier than you think. Here are several things you can do to get started. Learn all you can about pregnancy to communicate effectively and professionally.

Office Design The design of a pediatric chiropractic practice can take two different paths. Which path is better for you depends upon the results you are looking to achieve. One child-friendly design is created for the convenience of parents. The other is created to promote health benefits for children under chiropractic care. The “convenience” design has elements that entertain children while the parent gets adjusted. It keeps children occupied, but it does nothing to promote pediatric chiropractic wellness and usually places a huge burden on your staff.

Legal Q: I recently left an associate position with a chiropractor. I have established roots in this city with my family and do not want to move. However, I signed a non-compete clause in the original contract. I heard that non-compete clauses may not be enforceable. Is this true? A: This is a very common question on both sides of the equation. The associate wants to break the agreement, and the employer wants to enforce it to the fullest. Many variables exist in state laws regarding non-compete employment clauses so you will want to hire a local attorney familiar with this specific issue to assist you.

Practice Management Physical therapy is a logical next step to improve the overall care of your patients and boost your revenues. When done correctly, adding a physical therapist (PT) to your practice can be a true win-win situation. But, to assure success in expanding your practice in this direction, do your homework, weigh all the factors (both pro and con), then make a decision. Let’s look at some of the important benefits your patients receive when you include a physical therapist as part of your treatment team.

Legal Ease | When the Health Insurance Portability and Accountability Act (HIPAA) became effective on April 14, 2001, there were no HIPAA police per se. But revisions of the HIPAA rules throughout the past decade haven’t stirred most DCs toward compliance with HIPAA privacy and security rules.

Money Management | What if the financial planners are wrong? What if you didn’t have to wait 30 to 35 years to retire? And what if you didn’t have to sacrifice your standard of living to max-out your 401(k) or IRA contributions every year?

Coding Keys | The ICD-10 codes changed for 2017 and include 1,974 311 deleted codes, and 425 revised codes. Most chiropractors, fortunately, are only affected by about 70 of these changes—none of which are groundbreaking. But you should be aware of these changes because using deleted codes will result in denied claims.