Hello class! You should have signed up for this blog in class and you are now assigned a #1, 2, 3, 4, or 5. This week the #1's of the group will be posting. Your assignment is to discuss and agree on an answer to this question: What is the biggest challenge for new chiropractors starting into practice? The 1st person in each group will post the answer on the blog. This assignment is worth 1 point.
Your answer should read something like this: (remember that #1's are writing here)
We discussed this question via email, texting, talking and this blog and here is what #2 had to say:
#3: write answer
#4: write answer
#5: write answer
Here is the group answer to the question: "write out answer ".
These articles may help get you started: http://www.chiroeco.com/chiropractic/news/11124/1528/in-the-beginning-/?skeyword=chiropracticpracticechallenges
http://www.chiroeco.com/chiropractic/news/11423/1559/be-the-captain-of-your-own-ship/?skeyword=startingachiropracticpractice
Please have your answers posted by Monday, July 18, 2011, for credit. Thanks, Dr. Frost
These articles may help get you started: http://www.chiroeco.com/chiropractic/news/11124/1528/in-the-beginning-/?skeyword=chiropracticpracticechallenges
http://www.chiroeco.com/chiropractic/news/11423/1559/be-the-captain-of-your-own-ship/?skeyword=startingachiropracticpractice
Please have your answers posted by Monday, July 18, 2011, for credit. Thanks, Dr. Frost
Group #2 discussed most of our answers in class & here's what we came up with:
ReplyDelete#1 (me) feels that since the vast majority of new chiropractic graduates have no business background, that just learning how to run a business, i.e. apply for loans, learn about overhead, sunk, variable, & fixed costs, etc. is the most difficult thing for a new graduate to wrap his/her head around.
#2, 3, & 5 felt the same way.
#4 noted that confidence would be the biggest challenge to overcome & attain upon starting their new practice.
Thanks group 2.
ReplyDeleteGroup 21 discussed our question through text messaging.
ReplyDelete21.1-The biggest challenge is putting the business plan together that is the basis for you to get the loan, which ultimately allows you to build the practice to which you can bring in patients. There is a beginning to every business and the biggest challenge is putting the 'idea' into play to get you started.
21.2 felt that starting something new and not having the experience of running a new practice is a big challenge.
21.3 felt that when building up the practice, we hope those first few patients have a good experience which will allow them to come back and also to refer others.
21.4 felt that the advertising aspect is critical is establishing the practice. This brings in new patients.
21.5 felt that the business loan can be a challenge in itself. Without the loan there can be no practice.
Group #5 discussed our answers during class and briefly afterwards.
ReplyDelete5.1- The biggest challenge for starting a new practice is understanding the business aspects of running an office. Some of these challenges include finding the best and most cost effective marketing strategies, building a client base, and hiring the right employees. Making the transition from student to owner/employer can also be a challenge in the beginning stages of a new business.
5.2 felt that having a good business plan and a focused vision for the practice will help the business build in the right direction from the start.
5.3 felt that advertising to build a patient base in a cost effective way was critical.
5.4 felt that demographic research was important so that a new office is located in an area that will provide enough new patients.
5.5 felt that getting a loan can be one of the biggest hurdles in starting a new practice, so it is important to have a thorough business plan and vision for the practice.
Group 7 discussed their answers after class and over the phone. All members agreed there would be two major challenges starting into practice;
ReplyDelete1) Having a good business plan and obtaining a business loan to start your practice.
2) Getting people in the door and having them signed up to be practice members so you can have a sustainable practice. This includes marketing/advertising in a cost effective way. One way our group discussed that we could do this is to have a well prepared grand opening. This does not have to cost a lot and could help you get practice members your first week into business.
Group 6 discussed their answers by email.
ReplyDelete6.1 I think the hardest challenge for a new Chiropractor is building a strong patient base. Not only is it challenging to get people through the doors, but learning how to educate them so they want to keep coming back and want to refer their friends is a huge challenge.
6.2 I would say the biggest challenge would be establishing a patient base big enough to support the chiropractor's practice and personal expenses.
6.3 I feel the biggest challenge is figuring out the finances of it all, whether you are going to open your own practice, associate, or become an independent contractor. It is scary not knowing how long it will take to finally build a successful practice.
6.4 Personally, I feel that the biggest challenge for the new chiropractor is getting patients through the door; that is if they are starting up their own practice. Not only is it hard to educate and convince people to come see you, you have to squeeze it into everything else you have to do when starting a practice. I feel establishing a patient flow and finding time to really market yourself without losing money is probably the hardest thing.
6.5 I feel as though the hardest part about beginning in practice is the lack of experience both in clinical practice and business experience. We have been taught many things in our business classes and have had various experiences in clinic. However, I feels as though lack of experience is something that will be a challenge and something that we will only overcome with time.
Group: Even though our personal thoughts were all slightly different they are very closely connected. Basically, we are worried about not having the experience necessary to juggle patient care and marketing so that we can get enough patients into our practices to support our families and keep our practice open.
Group 19 discussed their answers via text
ReplyDelete19.1 felt obtaining a patient base would be the biggest challenge.
19.2 & 3 felt the same way.
19.4 felt the start up costs and getting a loan would be the biggest challenge.
Group 26 discussed our comments at my house while watching the World Cup. We lost.
ReplyDelete26.1 I think the most difficult challenge will be acquiring a large enough patient base initially in order to cover practice expenses, pay student loans, and keep my office doors open.
26.2 The most challenging part will be running the business since most chiropractic graduates do not have have a business background. Most will have to learn that through experience and additional education.
26.4 Felt that the most difficult aspect will be making the decision of where we want to set up a practice and whether to associate with a doctor or open our own practice in the beginning.
26.3, 26.5, 26.6 The last three agree with the 3 comments above and collectively we feel that the points made will be challenging.
3.1 Financing the practice before building a patient load will be the biggest challenge as a new chiropractor.
ReplyDelete3.2 Clinic forms and other little things that are not done until the last minute will be the most challenging.
3.3 Money management/money smart, investments: knowing when and how to best spend/invest the money for the practice will be the biggest challenge as a new chiropractor.
3.4 Financing and the need for a flawless business plan will be the most challenging as a new chiropractor.
3.5 Biggest challenge as a new chiropractor will be building a client list and being able to convey to the patients why they need chiropractic care when they already feel good.
Group #11
ReplyDeleteWe discussed the question via telephone conversation and texting.
11.1 thought that the most challeging thing is getting the word out there to bring patients through the door. Day one and doors open and there needs to be patients to keep the doors open.
11.2 thought that the biggest challenge is getting paitints in the door. Its tough getting people to know that you have a pracitce, where it is and why they sould see you instead of anyone else.
11.3 thought that lack of business experience, lack of money to start the practice, and finding an adequatly trained staff to hit the ground running is a big challenge.
11.4 thought that the biggest challenge is choosing the most adventageous location to practice (both population and demographics) to support the D.C's desired style of practice.
11.5 thought that the biggest challege is getting approval for a loan and being able to afford the high cost of a rental space.
Group 8 discussed the question via txt and in person.
ReplyDelete8.1 thought the biggest challenge is the initial decision of where to practice. As graduates we have the ability to go anywhere. Literally anything is available to us and that is scary. It would be easier if someone was to limit you to an area of the United states or even a specific country.
8.2 thought the biggest challenge is knowing how to treat and diagnose conditions that walk into your office.
8.3 agreed with 8.1's response.
8.4 thought that the biggest challenge would be balancing their time between treating patients and doing marketing.
8.5 wanted to add to 8.1's idea by saying. If you decide to move away from your family and start a practice in a place that is unfamiliar to you. How do you develop a support system of family and friends in a new community. This is tough for anyone especially someone who is trying to start a business.
Group number 16 discussed this topic via phone/email/discussion
ReplyDeleteWe all agreed (#’s 16.1-5) and came to the conclusion that whether you’re an associate or starting your own business marketing yourself effectively and cost efficiently is one of the great challenges that chiropractors face.
Image is everything. You have to have the correct image for the correct location; otherwise it may be a struggle to build your clientele.
Example: Specializing as a primarily pediatric based practice in a mostly elderly community would be difficult to build.
Group 9
ReplyDeleteVia text messaging.
9.2 chose startup costs as the biggest challenge. Getting a business loan can be difficult. At the same time we will be trying to pay off student loans.
9.3 picked establishing and maintaining a patient base as the most difficult.
9.4 and 9.5 felt the biggest challenge would be the transition from being a student to running a business as well as having the confidence to do it.
The group agreed that the biggest challenges would be startup costs, establishing a patient base and retaining them, and transitioning from being a student to running a business.
Group 18: we discussed this primarily via email.
ReplyDeleteWe all had some varying thoughts, but most had a theme of dealing with some aspect from the business side of the practice would be the biggest challenge.
18.1 I feel that the biggest challenge is that, in general, few students leave a chiropractic education with the necessary confidence needed to believe that they can go start a practice and be successful. The lack of confidence can be in several different things: Our own abilities, our business knowledge, our level of skill in marketing etc... I just see and talk to too many peers who are lacking confidence in something. A few find it along the way, some try to make it without it but many run to coaching companies or an associate position because they lack confidence in one area or another to go and be successful themselves.
18.2 thought that the biggest problem is business skills. He thought that too many students think they are just going to open their doors and will make lots of money. He thought that too many students have never run a business or dealt with employee's, managed a budget dealt with payroll, etc... He felt that school prepares you to be an adjustor but not a business owner.
18.3 felt that the biggest challenge for a new chiropractor is getting established as far as the "legal" aspects of the business, such as filing paperwork, insurance, medicare, etc...
In summary, everyone in our group felt in one way or another that some business aspect would be the biggest challenge. Legal, experience, or confidence in ones own abilities to start and run a business.
Group 1
ReplyDelete1.1 most of the group felt the biggest challenge would be based on developing of the ultimate business plane to gain the financial backing to open a clinic
1.2 the challenge for me is in building a patient base to keep the doors open. Gaining experience by associate with a doctor.
1.3 and 1.4 thinks financial backing will be the challenge.
1.5 thinks it will be finding the right place to set up a clinic, were staying there the rest of there life and be able to make a living.
Group 13:
ReplyDelete#1 stated that getting a business loan from a bank is a huge challenge for new grads, who typically have little saved, lots of loans and minimal practical/real world experiece.
#2 felt that getting and/or retaining patients in a new practice is a large challenge
#3 felt that learning how to run a small business is the biggest challenge. She stated that when we graduate palmer we will be solid in technique and caring for patients but our business background is very minimal.
#4 and #5 think that choosing a location to start a practice is difficult.
Group 10 says:
ReplyDeleteOverall, we are worried about the unknown. If you don't have a family member running an office, you never get to see the real world business end of chiropractic.
10.1 is worried about the real world practice. He has tons of plans on paper, but has no clue how it will unfold in the real world.
10.2 is worried about dealing with the different insurance companies and billing. Palmer gives us the basics, but codes are changing and when you talk to different doctors about this subject, they have so many different opinions.
10.3 is worried about patient education and communication. When you get away from the Palmer setting, you need to be able to talk to patients in an understandable manner.
10.4 is worried about finding new patients to build a practice.
Group 17
ReplyDelete#1.”What are good resources that a new doctor can use to answer questions about starting a new practice? I think one of the best ways is talking with those who have already done it, but I would like to know of good books or lectures that others have used / heard of that won’t put too much of a financial burden on a new doctor.”
#2: “Financing our own practice after accumulating student loans?”
#3:” The biggest challenge for a young chiropractor is the ability to set up and office with the proper amount of staff members and the ability to deal with the cash flow. For instance, do you need a receptionist and accounts billing? Can a properly trained CT do all that? Do you pay off your x ray machine off first....or may some large payments on your student loans. These are the questions i find myself wondering time and time again.
#4: “I believe that the greatest battle for new chiropractors is deciding within themselves whether they want to open, associate, partnership, or independent contract. Many chiropractors are first time business owners that will be entering into an aggressive world of business. It is very challenging finding an associate position that pays well and also very challenging opening up on own. Once new doctors decide which route they want to go they can dedicate their time and efforts where needed.”
#5: “Creating a solid foundation for a patient base. Getting people in the door is a huge challenge, but keeping them coming back may be even harder.”
As a group (#'s 1-4) we feel that the biggest problem facing us is building up clients and getting them to stick with their treatment plans. The majority today of people still think that they only need to come in when they are in pain and dont need to return until the pain returns. As new doctors we will have to work on helping them understand the need to stick with the entire plan. We also feel getting in with insurance companies poses a significant initial problem. Palmer gives us the basics but real world experience in the most important tool we can have.
ReplyDeleteGroup #22 discussed question via text
ReplyDelete22.1 feels that there are so many intricacies to running a small business that it will be a huge challenge to keep all the small things from adding up or to not simply overlook them.
22.2 thinks that it will be a challenge to communicate his chiropractic philosophy and educate his patients.
22.3 thinks it will be a challenge to build a patient base in a new area where he doesnt know many people.
22.4 feels his biggest challenge will be finding the perfect place for both his family and to start a new practice.
22.5 also thinks that good communication and patient education will be a challenge.
Group 4 discussed the question via e-mail and the following entry is paraphrased.
ReplyDelete4:1 "The biggest challenge in my opinion is setting appropriate goals for the practice or even worse a lack of setting goals. I believe a lot of people are still unsure of what they want in a practice and in not planning properly for the office is a downfall for the practice. Understanding that growth within an office happens over time and re-establishing goals and making sure each goal is right for the office is key to maintaining a practice that will be successful for each individual."
4:2 "The biggest challenge facing new chiropractors is fear. I know that many of our peers are going to end up in associateships that are not a good situation. But the problem is they are scared to start their own practice. We are the freshest we are ever going to be with our chiropractic skills and will graduate with enough knowledge to be able to take care of patients... we all have to get better at adjusting, educating patients, communicating. At least if you have your own practice you will be doing it all for yourself, instead of being a slave for someone else, and have to start all over again when you finally decide its time to start your own practice. Many new chiropractors are scared because of the financial situation they find themselves in, and because of this place limitations on themselves and are not willing to take risks."
4:3 "The biggest challenge to starting a new practice wouldn't necessarily be the initial prep work or even the grand opening. The biggest challenge in my mind is STAYING organized and CONTINUING to work as hard to bring in new patients and to keep the ones that you already have. To many people get comfortable after the first few months or year of practice and stop putting in the extra effort that a new business requires. Most businesses don't know if they'll sink or swim for at least three years. The challenge is to continue to treat your patients, your office, and your community with the same attention and respect as you started out with; after all, they are what will make or break your business no matter how great of a doctor or philosopher you are."
4:4 "I think the biggest challenge for chiropractors starting in practice is getting patients. I think it will be tough in areas that have a lot of other chiropractors because we will be competing against their many years of experience."
4:5 "I think the hardest thing about setting up a chiropractic office is all of the research and planning that goes into it. You have to figure out who to market and if there are enough of the targeted group in the area you are ging to set up shop. You also have to know how much is gong to cost and knowing state laws, regulations, and even traffic patterns. There is a lot of precise planning and reasearch that goes into a doctor's plan to open up a successful clinic."
Group 13 We discussed the question by Text
ReplyDelete13.1 -13.5 All of us had the same answer the hardest thing will be getting loans and then getting patient to come in.
Group 20.
ReplyDelete20.1 I think the hardest part about starting an office will be finding a good patient base and advertising, the concept of selling myself is an odd one for me
20.2 He thinks the hardest part of starting up will be finding the financial backing for everything that he will need once he graduates.
20.3 She thinks the hardest part will be finding a location because she want wherever she moves to, to become her forever home.
20.4 She thinks that it will be difficult to find staff that she likes and trusts.
20.5 She isn't sure still if she wants to associate right away or start a practice with her husband.
23.1 Biggest challenge has to be keeping up with all the non-doctor parts of chiropractic practice. Things such as organizing your bills (student loans, business loans, living expenses, overhead, TAXES), license (continued education, limits of practice, specialties), marketing (advertisements, screenings, referrals), and having a personal life away from the office. It's a juggling act that established chiropractors have mastered. All the doctors I've shadowed seem to say the same thing. They wish they knew then (start of practice) what they know now. It's quickly followed up by them explaining that all the mistakes led them to who they are today and the business they have. I guess we need the all the challenges listed in this blog to be successful.
ReplyDelete23.2 The biggest challenge would be remaining focused on quality patient care but also on efficiency and building a practice. Also, that you could potentially be working alone, and not have a teacher or coworker/another student intern to ask when you dont know what to do.
23.3 The biggest challenge is the initial start up... putting the idea of your practice into play. Getting loans and having a real hands on experience of how you want to run your office.
23.4 I'd say that the hardest part of starting a practice would be to compound a loan large enough to lease space, buy all adjusting tables, X-ray equipment, PT equipment, office supplies, and any other important items on top of student loans and still have enough liquid capital to use on marketing. It seems like the banks would be hesitant to add that kind of debt to a large previously existing figure.
23.5 The hardest thing about starting a practice is to get a bank loan especially now since these soryass politicians and corperations have completely destroyed the u.s./world economy. Its even harder than before for sum banker to approve a poorman's buisness loan, and it dont help that all the schools make us to be sum kinda 3rd rate pain doctor in a time where so many people need a cure; with new diseases poppin up everyday that didnt even exist a year ago. But BJ palmer did it 100years ago and so can anyone who believes that the body can heal itself when expressing 100% intellengence, and GOD is the power behind that intellegence. Chiropractic works when done correctly and specifically.
Overall we all agree with what each of us think, but since we all plan on doing different things with our degrees in terms of practicing the individual answers differed. The common subject is handling the money. Raising money needed to practice. Paying bills that will be due.
Group #24 said that the biggest challenge will be getting loans to open up a practice as well as finding a great location to succeed.
ReplyDeleteGroup 21:
ReplyDeleteWe discussed in class and via text messaging
Internal:
1. "What the business is about and what they plan to do. This should include what the business is in itself, how they will treat others working there and clients that come in."
2. "The chiropractic office should provide quality care to all persons, regardless of race, sex, or financial ability to pay."
3. "The chiropractic office should provide patient care that is focused. It should be clear to the patient from the waiting room, front desk staff, doctor visit, as well as check out.
4. "Everyone will be treated with respect and professionalism regardless of ethical, economical, political, and social status and is expected in return also."
5. "What you do in your company to maintain your ethical values such good business practices."
External:
1. What the business aims to do outside of the business in the community. This should include what the business is about, the values they hold and what they can do for the community."
2. "The chiropractor should be known for his reputable office and be involved in matters within the community.
3. "The chiropractic office (company) needs to hold a reputation that promotes or reflects what the business' mission is. Community improvement efforts, chamber of commerce members, community health interests. Also, the reputation pf the doctors, staff, and anyone involved with the business needs to be kept in check. Misconduct or bad behavior in public should not be present."
4. "Same as internal"
5. "What society views as ethical behavior."
Group 3 communicated in person and by phone and decided the following:
ReplyDeleteYes, we can have a cash only practice, but would not be able to accept Medicare patients, and must follow rules for insurance should the patients decide to file their own insurance.
Group 5 decided that giving out gift cards to patients who refer new patients is not a good idea at all. The transaction of gift cards creates almost a employer/employee relationship and that is a slippery slope if it is even legal. Then Dr. may feel obligated to give to gift to all patients who refer not just ones who refer a lot. We felt this may also not finacially worth it if a gift card is given out for very referral. This is not a good standard to establish and can inspire people to refer for the wrong reasons. The goal should always be improving patient health and patient may develop alterior motives to refer if there is a reward behind it. We felt that a better idea would to give most loyal refering patients a gift over the holiday season. This way the doctor can still convey their appreciation through a generous gesture that does not distort the message of overall health.
ReplyDeleteGroup 14 decided that using gift cards would be an overall bad idea in that it could cheapen the value of what you do in the long run in the view of patients and they will start seeing themselves as more consumer goods rather than people that you care about. Also there will be those patients that think they need or want that gift card so bad that they will harrase people to try and get the referral. This could also lead to the feelings of some patients feeling that they are leads important than others if they hear others talking about receiving gift cards for referring and they do not receive the same it could lead to bad feelings between patient and doctor leading to actually less referrals.
ReplyDelete