BREAKING PRACTICE BARRIERS Soaring to New Levels With Speaker: Dr. Timothy Gay Director of Ultimate Practice.com With Speaker: Dr. Timothy Gay Director of Ultimate Practice.com

>NEW PATIENTS< >NEW PATIENTS< SECTION 1:  Services & Collections  Overhead  Personal Overhead  Location & Signage  Service & Hours  Statistical Analysis

 HIGHER LEVEL OF SERVICE  The service side of a practice will always remain the most important component in building a practice.  In order to increase your collections you have to provide more services. Services & Collections

 To determine collection percentage, divide collection by services. Here is the following % of collections to services: Outstanding 93%+ Excellent 90% Good 85% Fair 80% Poor 75% Stinks 70%

Overhead Expenses  LOW OVERHEAD  Keep your practice overhead to a minimum roughly under 50% of your collections.  Low overhead helps to create higher profits and better yields.  Look at your fixed overhead expenses, and any other expenses directly tied to running your business.  Have a substantial profit margin before spending money on outside marketing.

Personal Overhead  SAVINGS ACCOUNT  Savings account should be a minimum of $100, and in cash reserve—and not to be touched.  If you can’t afford to pay cash don’t buy it.

Location  LOCATION, LOCATION, LOCATION  You have heard this over and over, the #1 single most important thing you must have for your practice is location, location, location.  Over and above everything else, location will make or break your practice.

Signage  ASK YOURSELF…  How many different directions can your sign be viewed?  How many signs do you have? Are they all lit up?  What is the size of your signs? Can they be viewed from both foot traffic and cars on the road.

Service & Hours  SERVICE & HOURS: CONSISTENCY  The type of service that is provided in your practice needs to be consistent.  Doctors are in constant flux— changing office hours and the types of services that they perform.

Service & Hours  TYPES OF SERVICES  Services in your office may include:  massage therapy,  rehabilitation,  back office procedures,  intersegmental tractioning,  and a host of added services for the patients to respond to treatment faster.

Statistical Analysis  STATISTICS & FORMULAS  Formulas produce stats on various pieces of the practice. These stats can help analyze ways to improve clinic productivity and develop a better team.  Statistical analysis and formulas:  help run businesses,  help with keeping them organized  help with efficiency.

Statistical Analysis  MORE STATISTICS  There are many more statistics, for example:  re-exams  time management  patient time studies (to determine how much time is being spent with a patient)  money collected over the counter  patient recalls  amount of money billed daily and weekly

Statistical Analysis  BUSINESS STATISTICS  Collection Factor Percentage (CFP): Divide collections by production for a percentage.  Total Expenses (TE): Average expenses divided by 12 months.

>NEW PATIENTS< >NEW PATIENTS< SECTION 2:  Procedures/Systems  Marketing & Advertising  Consistency & Congruency  Procedural Follow Thru  Adherence To Goals

Procedures / Systems  ASK YOURSELF…  Does your practice run like a well oiled machine, whether you are present or not?  Do your associates duplicate your efforts?  Does your staff use scripts and role play?

Marketing & Advertising  GETTING NEW PATIENTS  If you want more new patients, what are you doing to create a buzz around your practice?  A minimum of 3 internal and 3 external programs should be going in your office on a monthly basis.

Marketing & Advertising  CLASSES  Spinal care classes (internal marketing) are an absolute must. These classes are an educational tool for new patients and retention for returning patients.  You, as the doctor, need to educate as many people as possible about the benefits of chiropractic.

Marketing & Advertising  HAVE A PLAN Do you have a one year marketing plan in place?  Begin by marking dates on your calendar as to when you will implement projects, classes, events, etc…  Commit yourself to starting.  Get out of your comfort zone to produce results and reach a higher level in your practice.

What Must Be Done? Why Must It Be Done? When Should It Be Done? Who Should Do It? Where Should It Be Done? How Should It Be Done? PLANNING WHEEL

Marketing & Advertising  NETWORKING WITH CHIROPRACTORS  Instead of taking a stand of “Every Chiropractor for Themselves,” form a unified group that has cooperative marketing for the cooperative purpose of creating more public awareness of chiropractic.

Consistency & Congruency  STAYING CONSISTENT  The consistency of your practice equals a recipe for success.  The more you do the same, much like practicing kata in karate or practicing songs on a guitar, the better it flows the better you will become at building your practice.

Procedural Follow Thru  CONSISTENT PROCEDURES  It is important to make sure that all procedures are agreed upon so that there is consistency in the care and well being for the patient.  TIRED EXCUSES  “No one told me what to do.”  “I told someone else to take care of this.”  “That’s not my department.”  “Someone told me the wrong thing.”  “My team dropped the ball.”  “I thought I told you.”  “It’s not my job.”

Procedural Follow Thru  ACCOUNTABILITY  Everyone must involve themselves with accountability.  All must share in the ownership of procedures and the circumstances and results of procedures.  Train staff members according to your procedures and systems.

Procedural Follow Thru  TRAINING Training is not just a matter of knowing what to do, it is a matter of training to a point of automatic competency in all aspects of your practice.  Training is a never ending endeavor of improvement to attain the highest level of achievement.

Adherence to Goals  STICKING TO A GOAL  Adherence is sticking to a strategy or goal long enough to produce the desired result.  Adherence is achieved through Focus, Competence, and Passion.  Have a mission statement for your clinic. Adapted from Sticking To It: The Art Of Adherence by: Lee. J. Colan

Adherence to Goals  COMPONENTS TO ADHERENCE High competence means that your staff can perform at a consistent high level of execution.  Teach your staff to think in terms of measurable goals with finite beginnings and ends. Adapted from Sticking To It: The Art Of Adherence by: Lee. J. Colan

Adherence to Goals  COMPONENTS TO ADHERENCE Cont…  Create systems for positive habits to effectively communicate and plan the steps you need to accomplish your goals so that each staff member can focus on his/her responsibilities. Adapted from Sticking To It: The Art Of Adherence by: Lee. J. Colan

New Patients  Here are the statistics for moving your practice to the next level: Outstanding = 50+ NP Excellent = NP Good = NP Fair = NP Poor = NP Stinks = 0-9 NP

Final Note Watch your thoughts; they become words Watch your words; they become actions Watch your actions; they become habits Watch your habits; they become character Watch your character, it becomes your destiny. ~Frank Outlaw

NOW IT IS TIME FOR YOU TO BREAK PRACTICE BARRIERS and Soar to New Levels!