Maximizing Profitability in Your Chiropractic Practice: The LANES Triangulated Formula
By Moe Pisciottano, DC
Chiropractors seeking to elevate their practice’s profitability need to rethink their approach to treatment plans and service delivery. Embracing the LANES formula — proven market, associated device, delegable delivery, separate service, and revenue — is key to unlocking untapped revenue streams and enhancing patient outcomes.
The crux of the LANES formula lies in the method of service delivery. Avoid the pitfall of undervaluing your services by bundling them into treatment plans. Each lane of service should be presented as a distinct offering with a separate fee attached, reinforcing its perceived value to the patient.
Triangulation offers a strategic solution to increase patient acceptance rates and drive revenue. Presenting patients with options — straight path, add-on, and fallback — empowers them to make informed decisions while optimizing practice profitability.
The straight-path approach offers simplicity and transparency. Present patients with a straightforward block of care for a specific service, such as mechanical motion therapy (MMT), at a clear price point. This streamlined option enhances patient compliance and ensures profitability for the practice.
Consider the add-on plan for patients already engaged in a treatment program. Demonstrate the benefits of complementary services, such as MMT, and offer them as add-ons to existing plans. Incorporating these additional services at a reasonable fee can enhance patient outcomes and increase revenue without disrupting the current treatment trajectory.
The fallback plan is a strategic tool to capture missed opportunities. Front-load a lane of service, such as MMT, within the initial treatment plan presentation. In the event that patients are hesitant to commit to the full plan, offer them the option to engage in a standalone block of care for the highlighted service. This approach secures immediate revenue and opens the door for further patient education and engagement over time.
By incorporating the LANES formula and leveraging triangulation strategies, chiropractors can enhance patient satisfaction, improve treatment outcomes, and drive practice growth. By demonstrating the tangible benefits of new services and offering flexible options, chiropractors can overcome patient hesitations and increase acceptance rates, leading to a more profitable and sustainable practice and positioning them for long-term success in a competitive healthcare landscape.
Dr. Moe Pisciottano is the CEO of the Pro-Adjuster Group and has been a practicing chiropractor in Pittsburgh, Pennsylvania, for 35 years. Dr. Pisciottano is the first and only chiropractor to receive the coveted Ernst and Young Entrepreneur of the Year award. To learn more, visit www.learnproadjuster.com
