Owners are interested in medical integration for their existing practices for many reasons, ranging from better profits to better purpose. However, there are often misconceptions about how to integrate a chiropractic practice and what it takes to do it right. There is a major difference between those who integrate the right way and for the right reasons. Avoiding common pitfalls can make all the difference in your success. Here are some considerations to avoid when integrating.
1. Abandoning Your Philosophy
Don’t get caught up in the track of becoming a pain management clinic. If you’re focused on healing your patients and stick with your philosophy, you’ll see greater success for your practice and patients.
2. Chasing the Money
If you’re putting in a patchwork of services, it’s not an integrated service. Find your theme and purpose and do things that help the patient, not just to make money. If you’re a good doctor, getting people well, and taking care of your patients’ best interests, your patients will know it,
and you’ll be successful in your care.
3. Choosing the Wrong Consultant
Make sure your consultant knows how to run a practice in today’s world. If they convince you it’s going to be simple to expand your practice, they aren’t being honest. Expanding your practice will take effort and can be challenging, but that’s what it takes to be successful.
4. The Do-It-Yourselfer
It’s not impossible to integrate your practice on your own, but often your run the risk of making mistakes when it comes to things as important as compliance. Paying a reasonable fee for quality support can save you significantly.
5. The Profit-Share Partner
The most expensive bill your chiropractic practice will ever pay is to a consultant who wants you to profit share to help integrate your practice. There’s a huge red flag when consultants come in offering services in exchange for profit-sharing.
6. The Stem Cell Dealer
When it comes to regenerative medicine, you get what you pay for. With a product that allows for huge profit margins, invest the time and energy to learn about and research high-quality products. Question everything, beware of buzzwords and radical promises, and get educated constantly on what’s new, what works, and what doesn’t.
Because of the long-trending curve in health care, the integrated model provides clinics with a more solid foundation from which to operate. The scope of services a medical office can provide, coupled with the strong demand by the public for a wide array of holistic services and healthy reimbursements, means that the business will have the viability to thrive. This model can easily adapt to the newest services and procedures since it does not rely on being covered by providers.
Dr. Mike Carberry is an entrepreneur, author and public speaker. He earned a Bachelor of Applied Science in Stockton University with a major in marketing, and his Doctor of Chiropractic at Life University. Dr. Carberry is co-founder of Advanced Medical Integration and his mission is to help end the Opiod Crisis in the US through healthcare reform. You may contact him at 727-205-8884 or [email protected].
