Chiropractic Products asks three experts about offering therapy and treatment products and services for a niche practice
What can chiropractors do to set their practices apart from competitors and other health care practitioners? There are several options available, such as simply adding a new therapy or treatment product in their secondary profit centers.
Or they can invest in training and equipment to enable specialized treatments in their office. Fortunately, the long list of possibilities allows each doctor to choose how much time and money they want to invest.
However, without enough information or research, doctors can potentially entangle themselves in a project that will be more detrimental than beneficial to their practices.
To help doctors steer clear of potential pitfalls, Chiropractic Products interviewed three experts from top-notch companies that offer therapy products for chiropractic.
Wyatt Earp is CEO of MicrolightLaser, a laser therapy distributor and dealer based in Santa Monica, Calif. Microlight Laser is a subsidiary and brand name of Innovative Medical Group Inc, a medical-device manufacturer and distributor known for developing, recognizing, and capitalizing upon emerging technologies in the medical marketplace.
Kurt Graebe is president of Sleepmatters Inc, Belleville, Ill, a company that manufactures patented air technology mattresses and pillows. Graebe founded the company 5 years ago after spending 17 years in the medical rehabilitation market. His interest in air technology to improve patient sleep and support led him to his current endeavor. Graebe is a member of the International Sleep Products Association.
Dave Schultz is the president of Hessco, a health equipment sales and service company based in Saukville, Wis. Schultz was raised in a family serving the chiropractic profession and has been working for the family chiropractic business since he was 14 years old.
What adjunct services, secondary profit centers, or techniques can chiropractors offer to create a niche practice?
Earp: Becoming a laser chiropractor offers a new modality and establishes the doctor as an innovator. By offering a new treatment procedure to patients, the chiropractor will be able to help more patients, create new revenue streams, and receive great word of mouth. Chiropractors are really in the drivers seat as laser technology emerges in the marketplace. Because the scope of practice rules for laser technology is favorable in almost every state and chiropractors can innovate within their patient streams more readily, the introduction of laser therapy in a practice can create a huge opportunity.
Schultz: Many chiropractors are looking at other sources of incomea great one is hydrotherapy. A hydrotherapy table is perfect for patient retention and increased revenue. It generally pays for itself in 1 or 2 days per month.
What literature, patient education, or marketing/promotional tools do you suggest for this endeavor?
Earp: We provide patient brochures, illustrated posters, ad slicks, and information on how to get local press interested in laser technology. Experience shows that doctors who run effective advertisements (about a new technology coming to town) get exposure. Doctors who speak to small groups regarding the science of lasers get the best practice building results.
Graebe: An office display rack is a silent salesman, as it communicates the features and benefits of the product. Printed materials from the manufacturer should suggest that the patient discuss the product with the chiropractor before using it. Ad slicks may also be available for flyers and other promotional items.
Schultz: The best method is to simply talk with your patients and leave information in the waiting room. Patients welcome this type of information from the doctor.
How can DCs get started in offering these services or products? What steps are involved in setting this up?
Earp: The first step is to evaluate which laser is best for their practice.
Graebe: It is important that the chiropractor use the selected product in order to become personally familiar with its benefits. After determining which product best complements treatments provided in the practice, the doctor can read chiropractic periodicals or call the manufacturer or distributor to learn about incentives offered to those who sell the item.
Schultz: Our representatives average over 18 years experience in the chiropractic market. Their job is to help doctors solve problems and find new income sources.
What are some things DCs should watch out for?
Earp: False advertisingthere are a number of companies making claims about light emitting devices being the same as a laser. We highly recommend evaluating the exact specifications of any device under consideration before purchasing.
Schultz: Make sure any new profit center fits into your philosophy and practice type.
Is there any special training for DCs and their staff? How can the staff contribute in offering services/products?
Earp: All clinicians must be fully trained. This is a relatively short but important process. The staff should be familiar with the process of laser therapy. Once word gets out that the office is a laser office, staff members will be questioned regarding the procedure.
Schultz: Many products require special training. Our representatives can often come to the doctors offices and train them and their staff.
What are the profit margins? When can DCs expect a return on investment (ROI)?
Earp: A chiropractor who charges half the standard fee ($25 net) for this service and treats an average of two patients per day can expect a 300% ROI in the first year alone.
Graebe: Generally, since the doctor determines the retail markup, selling a product can be very lucrativewhile remaining competitive in the marketplace.
Schultz: Doctors are able to determine pricing that works best for them.
Please share a success story of one of your clients.
Earp: The success story of one client is the success story of all our clients. Laser technology allows chiropractors to help more patients than they thought possible. Some doctors are better at marketing than others. Those doctors have experienced huge practice gains. In fact, one of our clients in Florida is only treating with laser, and he has opened a new facility because of the demand.
Graebe: Paul R. Bacon, DC, of Portsmouth, NH, has been in practice for 35 years. He specializes in spinal biomechanics and is a certified instructor in the Pettibon Biomechanics Institute. He is regarded as one of the more knowledgeable and skillful doctors in the country, especially in regard to restoration and correction of spinal form and function.
Bacon has purchased, tried or owned virtually every cervical pillow on the market. Over the years, he has tried to explain to pillow manufacturers that configuration needs to be diverse (changeable for each individual). The support also must allow the cervical spine to have increased loading and a higher proportional support than the rest of the head. No pillow had ever satisfied this need, although many attempts had been made. Bacon ordered and slept on one of our products and experienced remarkable comfort.
He began to stock and sell the pillow to his patients, generating a great deal of satisfaction. While patients must be shown how to adjust this product to the exact proportion that is right for them, says Bacon, this pillow is suited to accommodate virtually every patients need regardless of biomechanical alteration or body proportions.
Schultz: We have worked with thousands of chiropractors across the country. We can always provide success stories to help show the benefits of our products.
Any last words of advice?
Earp: Carefully read the labels and specifications on all devices. Know what you are buying. Do your homework.
Graebe: The chiropractor must have patience. Regardless of the efficacy of a product, sales will not soar overnight. But if a quality product is selected, favorable word of mouth will generate enthusiastic use and ever-increasing sales figures.
Schultz: Patients will pay cash for services that help them get well.
Julie Z. Lee is a contributing writer for Chiropractic Products.