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What is true chiropractic practice stability?
Well, “resistance to change, especially sudden change or deterioration” is one of the ways dictionary.com defines the word stability.
“Deterioration” is the word in that definition that strikes me most. Because, according to the same site, anything that deteriorates “becomes worse or inferior in character, quality, value, etc.” It “disintegrates or wears away”.
And that’s why a quick discussion of exactly what creates true stability for your chiropractic practice is so important. Because creating stability in your practice is what prevents your patient-base, office cash flow, personal income, and lifestyle from deteriorating, disintegrating, wearing away, or becoming worse or inferior over time.
So, what creates a stable chiropractic practice?
It’s not the right location. Or your knowledge of anatomy and physiology. Or a whopping lifetime patient value. Or a growing catalog of products and services. Or even quality of care, for that matter.
Stability in your chiropractic practice comes solely from developing and maintaining an effective and affordable system for acquiring new chiropractic patients. I call this your Optimal Patient-Acquisition System (OPAS).
Even though the profits in a chiropractic practice come from the backend (all of the revenue generated AFTER the patient is acquired), stability and growth comes from the front-end (the acquisition of new patients).
Introducing massage therapy, supplement sales, nutrition counseling, lifestyle coaching, etc., are all great sources of backend revenue. And, I recommend them.
However, without a steady stream of new patients coming into your practice, your backend revenues from ancillary products and services are limited and will eventually dry up.
This is why the development of your Optimal Patient-Acquisition System (OPAS) is the first and most important order of business for any chiropractor. Until you have the optimal patient-acquisition system in place for your practice, nothing else should take priority. Nothing.
Think of it like this:
Profits come from the backend of your practice – all of the revenue generated after a patient is acquired.
Stability and growth come from the front-end and your OPAS.
When building your practice, first establish it on solid ground (stability). Then, and only then, build it higher and higher (profits).
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