7 Ways To Increase Your Chiropractic Practice Revenue Without Increasing Overhead

We are all looking for ways to increase revenue and earn little on overhead. That’s a fact. But we don’t necessarily want to spend more money to do it. Many times people will start additional businesses (Chiropractor investing in a Subway franchise is a bad idea. Focus on healing and caring for your patients) or switch to a new specialty because they were not earning enough in the specialty they were in.

Worse, buy some new equipment that after a few months collects dust while you’re still paying for it. Here are some tips on how to increase revenue in your practice with little or no overhead in your practice.

Let’s look at some ways you can increase your sales without increasing your marketing spend.

• Package your products and services in packages that your patients can buy. When you bundle your products and services into bundles that are created to solve a problem, you make it easier for your patients to see the value of the bundle you’re offering. You can sell more than one product or service at a time.
• Use the Opportunity Vertex as a strategy for positioning products and services. The apex of the opportunity is a 3 to 7 level pyramid that positions your products and services at different price levels. Level 1 is free, Level 2 is $100-$300, Level 4 is $301-$500, Level 5 is 501-$1000.00, Level 6 is $1000-1500, Level 7 is 1501 to 2500.00. Tare this type of product positioning strategy allows you to have an up and down sales path in your business. It also allows the patient to choose products and services at levels at which they feel comfortable purchasing them.
• Upsell/Cross-sell – The use of upsells and cross-sells in your business can generate a greater amount of money. When someone buys one of your products, offer them a more expensive version of the same product or a related product. The higher priced version of the same product may include training or supplements. An example: someone buys you an eBook on healthy eating. Before the final checkout, offer them the same ebook plus training for a higher price. Or, offer them a related product, like a healthy cookbook. Many times people will accept your upsell offer and you have just increased your sale amount.
• sell supplements – Dust off the supplements in the back room. Everyone wants a medical professional to recommend which supplements to buy. As part of their intake process, you ask questions about the supplements they take and which brands they are taking, you can recommend supplements that are better for them with higher absorption rates. Try not to cry if they tell you they are taking Centrum or some other commercial supplement. You can package a complementary line with your products and services to add value to the service you provide. You want to sleep better. Here is my Sleep Easy package. Have acid reflux here is my acid reflux pack. Include a supplemental survey as part of your intake process with your patients. You can keep a small inventory of supplements in your practice and offer them the ability to order refills online that will be shipped to their home for free.
• Reward patients for referrals – Recruit your own sales force in the form of affiliates. Reward patients who refer businesses to you. You could give them a Starbucks gift card, whole foods gift card, free adjustment, or discounts on supplements. Give patients an added incentive beyond the great results you help your patients get to recommend new business and build patient loyalty.
• Stay in touch with past clients -Use email marketing and social media to keep in touch with your patients. People who know and trust you are more likely to buy from you again. 65% of a purchase decision is based on the relationship you have with the patient.
• offer a guarantee – People are much more likely to buy a product if they know they can get their money back if they are not satisfied with it. How will this increase sales? Chances are, you’ll get a lot more sales than the few refunds you have to make. People want insurance before they buy. Don’t get caught up in the energy of worrying about paying people back. If you focus on worrying about refunds, you’ll attract the kind of people who will complain and want their money back. When you provide a valuable service and focus on helping people, you rarely have to pay someone back.

If you notice, none of the above strategies cost you little to no money, except for supplement inventory and patient incentives. Here’s more to making more money so you can help more people!