It’s a big step to go from employee to starting a private practice. Taking the time to sit down and develop a plan …
Chiropractic Economics’ 2022 survey revealed that roughly 1 in 3 practitioners provide patient services as part of a group, as a partner, or as an associate. The other two-thirds are solo, practicing on their own. If you’re interested in transitioning from an associate to starting a private practice, there are actions you can take to help set you up for success during this move.
Here are a few to consider.
Develop a business plan
It’s a big step to go from employee to starting a private practice. Taking the time to sit down and develop a plan for how you want your practice to operate can help this process go more smoothly because it provides some direction.
It also forces you to think about different aspects of your business, reducing the risk that one will be missed. And if you want to seek outside funding, this step may be required by your potential investors.
The U.S. Small Business Administration provides a couple of different plan formats you can use. It also explains the sections to include in the various formats, from the executive summary (a basic overview of your business, what you want to do, and how you plan to do it) to your financial projections (where the company will be financially in the next five years), diving more in-depth as to what information belongs in each one.
Starting a private practice: create a strong team
In any type of business, you are only as strong as the people you surround yourself with. This includes not just qualified and reliable staff, but also other professionals that can help take your practice to higher levels.
Individuals to have on your team include:
- an accountant
- a lawyer
- an insurance agent
- a business mentor or consultant
Ideally, these professionals have experience working with solo chiropractic practitioners. If you are in a rural area where this isn’t an option, ask about their willingness to become proficient in this area.
Start marketing well before you open your doors
While it may seem like marketing before your practice opens is akin to “putting the cart before the horse,” waiting to get the word out can get you off to a slow start. And if the start is too slow, it can hinder your ability to stay in business for long.
Create buzz around your new practice. Get prospective patients excited to the point where they are lining up at your door. One way to do this is with a grand opening campaign. Let local news sources know about your practice. Set up ways for people to get in touch with you to schedule their appointments before you open your doors.
Another option is to hold an event at your office within a week or two of opening. Let the community come in and take a look around. Get them familiar with your practice while also giving them the opportunity to meet you and your staff. Serve snacks and drinks to make them feel welcome. Hold a drawing for people who attend to help get them in the door.
Set your practice up online
Getting your practice set up online can assist with your pre-opening marketing efforts. One survey found that 81% of consumers use Google when evaluating a local business. If they look for you and you can’t be found, they may not be willing to schedule an appointment.
This begins by creating a free Google Business Profile. On this profile, include your office’s physical location, business hours, services, and any special offers. You can also add photos of your practice, both inside and out.
Also create a business page on one or two social media platforms. Choose the ones your patients are more likely to use. For example, most Instagram users are between the ages of 25-34 according to Sprout Social; however, TikTok users are primarily aged 10-19. Go where your target audience is to have the biggest impact.
When starting a private practice, find a mentor
Sometimes the best advice you can get comes from others who’ve already done what you want to do. This enables you to learn from their mistakes without making them yourself. It also provides access to some of the shortcuts that can help you get where you want to be faster.
Reach out to your network of solo practitioners and ask if they’d be willing to share their experiences. If they are in your area, you could meet over coffee or lunch. Virtual meetings are an option for those who are further away or have trouble getting away from their practice.
If you don’t know anyone who has taken this journey of starting a private practice before you, ask people in your network if they can connect you with someone they know. You may find that others are more than willing to tell you about the good, the bad, and the ugly of getting started as a solo practitioner, especially if they wish that someone had done the same for them.
About the Sponsor
To learn more about Dee Cee Labs and its ongoing efforts to support and educate new chiropractic practitioners, visit dclabs.com/about.php.
