Reaching the Other 87% of the Population
IN BRIEF
PERSPECTIVE
The Power of Niches in Chiropractic Care
Aaron Gumm
DC
Chiropractic care has been a pillar of health and wellness for over a century, but it’s estimated that we only reach 10-13% of the population. It’s like throwing the party of the century, and only a few neighbors show up.
What if there was a way to tap into the other 87% of the population and triple your return on investment while helping more people? The answer lies in niches.
By zeroing in on specific areas, such as neuropathy, knee pain, weight loss, and gut health, chiropractors can reach a wider audience and provide specialized solutions. These niches are like golden tickets that tap into a piece of a $1 trillion pie. Yes, trillion with a T. That’s what all the niche industries add up to in value.
The Strategy: Niches and Chiropractic Education
The key to reaching the other 87% lies in offering niches while also educating patients about the benefits of chiropractic care. By providing specialized solutions for specific health conditions, chiropractors can attract a broader range of patients who may not have considered traditional chiropractic care. These patients can then be introduced to the broader benefits of chiropractic on the back end of their niche-focused treatment.
The Math Behind the Strategy
Let’s look at a comparison between two hypothetical patients, Bob and Mary. They both experience the same health challenges — neck pain, peripheral neuropathy, and metabolic health conditions.
Bob stuck with the traditional chiropractic route, spending $3,709 over two years without much change in his broader health issues, such as his neuropathy and metabolic health. He did eliminate his neck pain. He signed a year-long, 60-visit care plan for $1,800, then went on maintenance for a year at $159 a month.
Mary, on the other hand, went all in on a chiropractor who owns a specialized practice that offers solutions for neuropathy and metabolic conditions, shelling out $13,908. She experienced comprehensive results that transformed her life.
If we extrapolate these numbers, starting with 10 patients like Bob would bring in $37,090 over their lifetimes. However, if we follow Mary’s approach with the same number of patients, the revenue jumps to $139,080. This demonstrates the potential for a complete game-changer in terms of return on investment.
The Power of Lifetime Value
By focusing on niches and tailoring the approach to meet specific needs, chiropractors can increase the lifetime value (LTV) of each patient. LTV refers to the total amount a patient invests in their care over the entire period they’re with a practice. By offering comprehensive health solutions that address multiple aspects of a patient’s well-being, chiropractors not only increase the value patients receive but also significantly boost their LTV. This creates a more sustainable and profitable practice in the long run.
By embracing niches and tailoring chiropractic care to meet specific needs, chiropractors can tap into the other 87% of the population, triple their ROI, and help more people. The potential market demand for specialized chiropractic services is growing, and research supports the effectiveness of niche treatments. By focusing on patient outcomes, satisfaction, and the financial analysis of incorporating niches, chiropractors can build a brighter future for the profession, one patient and one niche at a time.
Dr. Aaron Gumm D.C. has owned and operated lucrative wellness clinics and multi-disciplinary clinics. He is also an author, Practice Automation. Expert, National Speaker and the CEO of Blueprint to Practice Automation™. Formore information visityourautomatedpractice.com
