364 - Get Your Money Right

[00:00:00] Don't make deals or negotiate with people. I also see this with chiropractors sometimes. We like to, you know, make deals, maybe make special deals and negotiate. And you know what ends up happening? You've got a practice that you cannot manage anymore because you got all these different people on different deals and different plans and they've all negotiated with and you have, it's impossible for you to grow and scale that business.

[00:00:29] Hello and welcome to the Remarkable CEO podcast, a show dedicated to chiropractors who want to transform their job into a business so that they can have a remarkable practice as part of a remarkable life, not instead of one. With your hosts, Dr. Pete Camiolo and Dr. Stephen Franson.

[00:00:52] What's up, Remarkables? Welcome to another episode of the Remarkable CEO podcast. Chiropractic's number one business podcast. Hey, I'm Dr. Stephen Franson. And I'm Dr. Pete Camiolo. And we are super stoked. It is Thursday afternoon and we are in the studio excited to lay down. We're going to do a couple episodes today. So the first one is actually the fifth one in an awesome series. Hopefully you guys have been listening to the entire series. Maybe this is the sixth one, right?

[00:01:21] So we're talking about all five domains of your practice in your business, looking for what is the primary constraint in the business, what's choking off the growth in your business or in your practice. It's an awesome conversation. Holy diagnostic, right? Like being able to get up under the hood. Today's conversation is one of the most interesting and one of the most popular topics because we're talking about money. Dr. Pete, we know that it takes four things to be a remarkable business, right?

[00:01:46] So you got to have a remarkable purpose and you have to have a remarkable product. You have to have remarkable people and you got to make a remarkable profit, no profit, no purpose. So we're going to have a money conversation here today. And this is one of my favorite things to talk about because it's such a disruptor. People have such a problem with money. You know, people either are like totally enamored by money and they're just focused on the money or people are just terrified of money or have a total broken money blueprint.

[00:02:12] And they're like, oh, I'm about love and service on the people. I'm not about the money. Oh my gosh. Can we fix this? Because ultimately no profit, no purpose, no money, no mission. If you are serious about chiropractic taking its rightful position in healthcare, we need money. Guys, we need money and you need money. You need money to expand and grow your reach, increase your reach into your community, into the world and be able to help more people, right?

[00:02:36] So it takes money to market. It takes money to hire a world-class team. It takes money to deliver an incredible product and experience, right? So, and by the way, you should be paid handsomely. Money follows value and you add such huge value to your patient's life. You create such opportunity for the people that get to work with you and for you. Dr. Pete, I'm excited about today's conversation. Let's fix this problem because it is such a choke point.

[00:03:02] It's such a bottleneck. It's such a gap for so many of our awesome chiropractors out there. Yeah. So I'm looking forward to this episode. You know, in this series that we've been doing, we've been kind of like dripping it out and you guys have been journeying along with us. If you've been journeying with us and we're finally at the money episode, if you're just tuning in now, the series is a great series. It started probably six or seven weeks ago because we've had a few other episodes. We've also integrated into our series.

[00:03:28] So this is the sixth episode, as you said, we did an initial episode. We went through an overview. This is the money one. So one of the things we said at the beginning was there's one primary constraint in each one of the domains. And your goal is to find the one, find the one thing. And so in your business, it's designed to produce results across these domains. And so there's one thing that you could identify. What would it be? Today, we're going to actually hit on two things on the money side.

[00:03:57] And one of them might apply to some of you and the other one might apply to the others. Hopefully this applies to everyone because this is, there's always a room for improvement. And we're going to share some examples of this as well. But our thesis really of this entire series is that you don't have a time problem. You don't have a people problem or money problem. You have a constraint problem. That's what we've said. It's the constraint. And the constraint is the thing that's the primary constraint, which is everything else is the noise.

[00:04:26] This is the thing. If you were able to silence that, it fixes everything else. Like that's what we're going to do here today in this money episode. So like you said, Dr. Stephen, our businesses are, it's an exchange of value. The money that you provide or that you receive in exchange for the services provided, the value you provide. So we're going to go upstream from what we would say the downstream issue is. The downstream issue is that you don't have enough revenue. Let's just say, okay, you want to grow your revenue.

[00:04:56] So let's say that's the issue. So how do we solve it? We got to go upstream. So there's a money constraint. So we're going to go upstream. We talk about throughput and output. So if you look at the five domains, attraction leads to conversion, leads to retention. Retention leads to revenue, right? And the team is at the center of that whole process. So this is the downstream domain. So we're going to look upstream and figure out, okay, where are the money conversations happening? Where are the money exchanges happening?

[00:05:25] Where is there opportunities upstream in the throughput that drives this output called revenue and then profit, which would be even further downstream? So we're going to dig in today. And I want to start with sharing a story because I had a doc who I've been just working with recently. And she's a world-class leader, incredibly intelligent doctor. And we went into the initial conversations really looking at the business model and the money models.

[00:05:51] And we realized that there was money that was to be generated. And it wasn't being generated because we weren't either charging for services or we just weren't even delivering services that should have been delivered in a chiropractic plan. So we immediately integrated progress and progress reports, which weren't being done. And we started charging for the x-rays at the re-exam, period. Just that. We found those two gaps in a business, which was a very successful business, seven-figure practice.

[00:06:21] We found those two things and we immediately increased the value of every initial, just the initial plan by $400. We did other things to increase value on the wellness plans as well, which I'm not going to get to right now. But this is the conversation that we want to have, Dr. Stephen, because you can have a very successful business and you realize, man, we're missing this. Our model, we have a pricing issue, we have a money model issue. And that's what we found. It was a money model issue and a practice, successful practice that's now going to be...

[00:06:48] Think about the implications of that over the next 12 months. If you start an average of 10 people a month, just that revenue alone, you're talking about, that's adding an extra $100,000, $125,000 in revenue to that business in a year. Just by one small little tweak, which nobody will even notice, barely makes a difference. But that's going to lead to significant changes in that business's earning potential with changing nothing else. Just that, two things. So, Dr. Stephen, that's what this conversation is about. There's money to be found.

[00:07:19] There's constraints in your business. And our goal today is to help you identify the constraint. That's right, Dr. B. So we're going to drill down on two usual suspects, right? So there's lots of places. And we've covered this in an episode. We did a couple... If you really want to go deeper on... Or I should say broader and deeper on the subject matter, you can look back. You can listen to the episode that we did on found money, right? This money hiding all over your practice, right? So go find it, right? So when we highlighted things like charge for the services that you're already delivering.

[00:07:47] You're not charging for things that you should be charging. In other words, you're just including things, comping things, just not charging for them. And then there's a pricing question, which is you're not charging enough for the things that you're doing, right? So it's like looking across the arc of the experience and figuring out if you have a pricing issue. And then talking about money models. So how do you structure your money model? So your price is what do people pay? And the money model is how do they pay, right? So those are the two that we're really going to drill down on today is the pricing issue and the money model.

[00:08:17] Those are the two most common issues or the usual suspects, right? We call them, right? So we also talked about bundling. How do you bundle, which increases not only revenue, but just looking at it from a lifetime value perspective. It's like bundling your services in such ways as how that drives just better stick and better revenue, increasing your volume. So many of you are just at a volume where it's like you've got a volume issue. In other words, your volume is not keeping pace with your overheads, right?

[00:08:45] You're just like just seeing enough volume to cover your overheads. Most of the overheads in a small business are fixed overheads, right? So it's like if you just would grow, you would grow and so much more of that grow. You get outsized profit margin from the growth over covering your overheads like if you would just grow. So many of you have just a volume issue. And then there's adding profit centers. You know, there's other goods and services that are aligned with what we do as chiropractors that we said it's not about the offering.

[00:09:14] It's about the positioning. If you learn how to position them properly and keep the main thing, the main thing, you can actually bump up your profit and your profit margin significantly by adding those profit centers. That's an incredibly effective way. It's a challenging way to do it. And you've got to do this well, right? So you've got to do this deftly, right? So we teach you exactly how to do that in that episode. And then finally, it's decreasing overheads, right? So or relative overheads.

[00:09:40] So many of you are just operating below capacity and you have bloated overheads. So much of your labor costs are out of a line. You don't know what your revenue per employee is, et cetera. We had an interesting conversation with Dr. Desire from Lucro. Looking back at their report that just came out, the State of the Industry Report, one number that really struck me was that the average chiropractor in the US is operating at only 63% of its capacity, right? So think about that. You're leaving, what is that? 37% of the potential revenues, just leaving that on the table.

[00:10:10] Guess what? That 37% is where your profit's going to live, right? Because it's not going to be a lot more. It's not going to be parallel overheads associated with that, right? So if you would just grow to your potential, 60, just think about that. My gosh, there's so much revenue and so much profit just being left on the table just on performance, right? So I find that very encouraging, right? I find that energizing. There's so much room to grow, Dr. Pete. So today's conversation is really going to be about two things, pricing, and we're talking about money models.

[00:10:37] And before we get into the guts of this, what I want to make sure you guys understand is we're here for you. Any of these episodes, if you listen to this whole series, what you're going to hear is like, man, as we go from domain to domain, we talk about attraction and marketing. We talk about conversion or sales. We talk about retention or delivery. We talk about your team or your people. And then today we're talking about collections or your money, wherever your constraint is, that's what's choking off the growth of your practice. Your practice wants to grow. It's its natural state.

[00:11:07] And this constraint is the bottleneck that's keeping you from going to the next level. You address this constraint and your practice is pulled to the next level. Domino. This is the first domino we're telling you. It's like, I know all of you are thinking like, well, you just said five domains. I got five problems. It's like, yeah, but you can't chase two rabbits. Nevermind five. So the theme of this is let's address, let's chase that one rabbit. Let's slay that one dragon. And Dr. Pete, if they need help with these, like if you're hearing this and like, man, I got this problem.

[00:11:36] And it's like, I don't know what to do about it. Jump on a call with us. We are very happy. There's a link in here in the show notes somewhere. You can jump on a call and we'll talk to you about your practice, your business. We'll help you get clear on what is that primary constraint. And we'll help you map out a map that will map the gap for you. Like here's an action plan for what you should be doing to slay that dragon, right? So we are here for you. There's a link down here. You can set up a free coaching call with us and we'll talk that down specifically as it pertains to your practice.

[00:12:05] Right now we are laying out the concepts. We're giving you examples. We're illustrating how this shows up in our clients. We coach hundreds of chiropractors on how to overcome these things. And it's amazing when you do take care of that bottleneck, when you do slay that dragon, that these practices get pulled to the next level. We want to help you do that. Yeah. So we use a tool, Dr. Stephen, that a lot of people don't actually realize we created the impact calculator, which enables us to identify exactly where it is and to the dollar, like how you can impact this.

[00:12:35] So again, speaking to this meeting, if that's something that you need help with, like we will calculate it literally for you while we're with you and we will show you exactly where it is, how much it is and help you solve it. And like you said, Dr. Stephen, we're in the business of saving lives. Like we are wholeheartedly committed to helping as many people get under regular chiropractic care as possible. So we know that your care plans need to meet the three Ps, you know, litmus test means meaning they need to be purposeful. They need to be profitable. They need to be possible. So we recognize that there's a template. There's a framework.

[00:13:04] There's a rule that we are always going to operate under, right? So the goal is that we would help more people get regular chiropractic care because our product, you talked about the four Ps. We have a remarkable product, chiropractic care. And we recognize that, you know, chiropractic care, that's a, it's best when it's consumed as a lifestyle success strategy, right? And so it's designed for healthy human beings to keep people healthy because the longer you're healthy, the healthier you'll be. So the model is not just about getting people in the door, getting them some high ticket

[00:13:33] item, high ticket care plan. And then, you know, move on to the next one and just replacing people. We're talking about a continuity business model. We're talking about hitting people at every stage in the journey, supporting them throughout the arc of their life so that they can get this care. So just recognize like we're not, there's so many levels of this that we're navigating right now with the bundling of services, the outing of value centers. Like there's finding money. Like I gave a great example just at the beginning here of a successful doctor. It's like, wow, I'm not doing this, not doing that.

[00:14:00] We just found an extra $125,000 in revenue if nothing changed in the next 12 months, just by doing that. Like the reality is a lot of the times it just comes from Dr. Steven, this is me talking shop. We just don't take the time to look at it. We just don't spend the time to look at our business, analyze it, really sit with it, marinate it, analyze it. Dr. Josiah, 63%. That means 37% of untapped potential. That's like a new patient coming into your office and saying, our job is to help unlock

[00:14:30] your full health potential. Our job as coaches, our job in this pocket is to unlock your full health potential, your business's full health potential, right? So we want to unlock that. And this last piece, man, again, you said there's a lot of subluxations. There's belief, broken belief systems. There's all sorts of trauma and issues going on the deeper and below the surface. But these are two practical ones, Dr. Steven, the pricing and the money model. Let's get these right. Hey doc, Steven Franzen here. If you're like me, you know that we're in the business of saving lives.

[00:14:59] And when business is good, everybody wins. That's the good news. But here's the bad news. Most chiropractors don't own a business at all. They own a job. It's a job they love, but it's a job. And far too often, it feels like that job owns them. Is this true for you? Do you own a business or a job? Have you built and do you run your practice on brute force? Does it rely fully on your time, your effort, a pound of your flesh?

[00:15:29] Are you responsible for all growth, for all new patient generation? How about new patient conversions? Is it all up to you? How about patient care and delivery? Are you a sole practitioner, an owner operator who owns the practice, but is also the only one that is head down and bum up, taking care of all the patients? Is revenue generation or collections all up to you? Let me ask you the most telling question. Doc, what would happen if you took 90 days off? What breaks?

[00:15:59] In my experience, most on-purpose chiropractors do not lay awake at night worrying about their practice. They worry about their business. Let's slay that dragon. The Remarkable CEO program has helped hundreds of chiropractors just like you turn the job that they love into the business that they've always wanted. Are you ready to run and build your practice on leverage instead of brute force? Do you want to create the scalability and durability that will allow you to make a bigger impact and a bigger income?

[00:16:27] What would it mean to grow your practice, increase your productivity, and your profitability? Do you want to get your time freedom back? Are you ready to turn your pirate ship into a battleship? If this sounds like you, then the Remarkable CEO program is for you. Just last year, 53 of our Remarkable clients received the 7-Figure Club Award, meaning they hit the million-dollar mark for the first time or their next million-dollar level. Be it 2 million, 3 million, 10 million, up to 36 million and growing.

[00:16:57] Now Doc, is it crazy to imagine that your practice could be next? Click the link below and learn how to apply for the next cohort of the Remarkable CEO program. We look forward to working closely with you and creating the business that supports your Remarkable life, not competes with it. All right. What I want you guys to be looking across is the arc of all your services, right? So let's look at every step in your process is a service. And are you charging for it? And how much are you charging for it?

[00:17:26] And what we see is just there's an opportunity for you to incrementally increase each and every step in your process in such a way that the cumulative effect of that is extraordinary, right? So it's like it's going to be extraordinary for you because it compounds across such a multiplier of all these cases, right? All these patients. So look at your day one process, your day two process, your day three process. How are you charging? What are you charging for your day one new patient consultation and examination, right? So check yourself on that.

[00:17:55] Do you know what the market bears for? You know, so like we have clients that are doing $49 examinations and we have clients that are doing $490 examinations and everything in between. And it's amazing to me. There's wild disparity, right? And there's like the process is almost exactly the same. And people are seeing almost exactly the same number of new patients. So whatever you're telling yourself, these limiting beliefs you're telling is like not in my town. Well, not in my community. Well, all the other chiropractors, all those stories that you're telling yourself, you know

[00:18:25] that those are just stories, right? And you've got yourself totally convinced. So we have eyes into hundreds of chiropractic offices. We're telling you there's it is the wild west. So but I'll tell you, I can almost guarantee you to a person you're undercharging, right? So you're undercharging. And until you have a whole bunch of people just saying, what? No, I'm not going to do it. You're undercharging. So you're just upset if like one person doesn't want to pay for your day one, you're like, oh, we must be charging so much. Let's reduce our prices.

[00:18:55] Don't be terrified of people being like, yeah, no, I'm not going to pay that, right? So that's a value issue. That's not a pricing issue, right? So focus on increasing the value and watch what happens, right? So most likely you can be charging more in your patient process. And then looking at your collection visit average, right? So what are you charging for a collection visit average? Like if we were to look across your CVA, which is your total collections over a given time period, let's call it a month divided by the total number of visits in that month. That's your CVA, your collection visit average.

[00:19:23] And right now coming out of that Luca report, the national average was 60 to 64. There's regional variances as there are in all things, right? So, but are you somewhere between 60 and $64 for a collection visit average? Of course, this is for the chiropractic centric adjusting centric practice. That's what we're talking about right now, right? So tease out what does it cost? Listen to me to be a chiropractic patient. If you're doing other things functional, are you doing, you're doing decompression or you're doing weight loss, are you doing all these other things? That's not what we're talking about right now.

[00:19:52] What we're talking about is being a chiropractic patient. Ask yourself if the average is 62 to 64. Are you average? Are you below average? Like is your service below average? Is your experience below average? Is your adjustment below average? Is the care that you deliver below average? Are the results that you deliver below average? Are you below average? No. Why are you charging below average, right? So it's, are you a discount chiropractor? Because guess what? You don't want to be in that space because the joint's going to beat you, right?

[00:20:21] So no, you have to ask yourself is, am I pricing according to the experience and the outcomes that our patients are getting, right? So check yourself on your collection visit average. When it comes to your products, cost of goods should be marked up, right? So you should mark up, mark up your cost of goods sold two to three times. So 200% to 300%. So it's a 2X to 3X markup. So if you're selling a pill, you buy it for 50 bucks.

[00:20:48] It should be two to three times markup of cost of goods sold, right? So two times 50 would be a hundred. Three times for 50 would be 150. That would be a 200 to 300% markup. That's for products, cost of goods sold two X to three X or services. If you're doing services, it's cost of services delivered or COSD with a 50 to 60% margin, excuse me, 50 to 65% margin. That's a target. That's a remarkable standard, right?

[00:21:15] So cost of goods sold and the cost of goods sold in a, for a chiropractic adjustment, for example, is number one, paying the chiropractor for the adjustment, paying the tech CA if they're involved. And then whatever consumables are there, like face paper, wink, it's very little, right? So, uh, and then the cost to swipe the credit card, that's cost of services delivered, COSD, which is the equivalent to COGS, cost of goods sold in a product centric environment. That's COSD in a service centric environment, right?

[00:21:44] So 50 to 65% margin profit margin for a markup on cost of services delivered, and then educate and tie everything to the clinical outcome. That's the key to this, right? So what you have to recognize is that when you are selling somebody a product or you're selling them a service, the key to be able to charge those prices above and beyond if they were like picking up that pillow at a drugstore is the fact that you actually educate

[00:22:12] the patient and you're able to create value, right? So, so many of you, you are, this is where you're losing money is because you are not taking the time and the intention to be very deliberate about educating the patient and building value. So you've forgotten more about wellness than most people will ever learn, right? So you have to step in as the expert and flex that expert power muscle, which makes that

[00:22:37] pillow so much more valuable, which makes that particular fish oil so much more valuable because they can get fish oil down at Sam's club for eight bucks, right? But when they're buying fish oil in your office and it's 58 bucks, they're like, whoa, doc, I can get this down the street at the gas station for $8. And you're like, yeah, but the sourcing and the form of this fish oil is the precise type

[00:23:04] of fish oil that's optimal for what your cells expect and require, right? So this natural triglyceride form, the EPA and DHA levels. The reason that we carry this liquid is so that you can get the, not only the potency, but the dosage without having to take 38 capsules. You have to step in and be able to educate the patient to make sure that they're like, oh, I get it. This is why I should be taking this fish oil and getting it from you as opposed to the rancid fish oil I could buy at the gas station down the street.

[00:23:33] Dr. Pete, it's about expert power. Money follows value. And the way we establish values, we create value through education. So there is a lot that just was covered there. So I just want to make sure everybody heard. So like just pick any one of the things that Dr. Stephen, you just went through. And those are just a couple examples, like charging more for your day one. Like what are you charging? And recognizing that just so you guys know, like we're looking at hundreds of practices all across the country, all around the world. And there are, there is a massive disparity between what some people are charging and others.

[00:24:03] And so the reality is you could be charging more and capturing more value for that 100%. So, and then looking at your collection visit average based on the national average of a chiropractic business, look at where yours is at. You know, if you're below that 60 to 64 range and recognize that nationwide, you are below the average. So you don't want to be below average. So that's simple adjustments here. But one of the things Dr. Stephen, you talked about, and this would be really important for everybody here who sells products.

[00:24:28] Everyone here who, you know, delivers services is a recognized is your margin or are your margins two to three X for the services or for the products and 50 to 60% for your services. Like look, do the math. You got to look at that and see, because if you want to be able to bring in great talent, to be able to be a part of the team and to help you deliver the services, I'm talking about chiropractors. I'm talking about assistants who are helping with, you know, other services, modalities, maybe that you're integrating. You've got to make sure that you are compensating, particularly the doctors.

[00:24:57] Well, anybody that's delivering services. Well, that's a hundred percent needs to be done. So recognize that if you're losing people or not attracting or retaining the talent that you need and want to be able to scale, create that scalability, durability, turn that job into a business, just go right back to this. So again, you capturing more value means you can deliver more value, meaning that you can compensate and take care of great, better care of your people that work with you, which enables them to have a better life, which enables the whole economy to go around. And it just, it all goes circular. It just keeps going around. The money just goes all the way around the circle.

[00:25:27] So recognize that's how that works. So a couple of things, Dr. Steven, you said that I think I want to double click on. And I see this a lot with the doctors that I train, whether it's associates or the CEOs, but the idea that, you know, we get beat up in practice, right? You get beat up. It's easy. You know, you get a couple of no's in a row and you start to be like, oh man, you know, that week and you go into the, your report of findings, you go into the re-exam and you, you kind of start going in with a little hemming and hawing a little. You're not as certain. You lack your certainty. You're a little bit lower on the conviction, a little bit, a little bit weaker on the clarity.

[00:25:57] And you walk in that room and you just don't deliver. And so what Dr. Steven, you said was you've got to go in there and be the expert. You've got to be that, the authority to be that, have that certainty and that confidence. I'm not talking about ego, right? I'm not talking about pride. I'm not talking about anything like that. I'm saying be certain about the detrimental effects of what subluxation does when left undetected and uncorrected. Be clear about what happens if you stop getting adjusted over time. Be crystal clear about when you integrate this in your life, what the benefits long-term

[00:26:27] are going to be for you, your children, and their children. You've got to be clear. You've got to be convicted. You've got to be certain. And when you speak to someone with that level of conviction and certainty, when you're clear and you're convicted and you're certain about these things, you are the expert. People are going to just say, where do I need to go? Point me in the right direction. Where do I sign? Right? That's the difference. We always say it's problem, goal, path, plan. My recommendations are based on only two things. Your goals, my clinical findings.

[00:26:53] When that is clear and that's done well, people are like, just point me in the right direction. Where do I need to go? And so you've got to look at how we've been doing with delivering that with the initial and ongoing care. There's a concept of asking versus telling. And I would see this a lot, especially when the doctors, I was training doctors in my own clinic and you kind of sense like they're asking if this is going to be okay. And I was like, no, no, no. Time out. We don't ask if that's going to be okay to come three times a week or how's that going to work out for you?

[00:27:22] We already know it's not going to work out great. It's going to be challenging. It's going to be a sacrifice. It's going to be an investment. So we need to just give people direction. And that's what people need. And that's going to be a, that's a significant investment for them, for any person. So they need to be told exactly what to do and how it's going to go and then be held accountable to that.

[00:27:51] And then don't make deals or negotiate with people. I also see this with chiropractors. Sometimes we like to, you know, make deals, maybe make special deals and negotiate. And you know what ends up happening? You've got a practice that you cannot manage anymore because you got all these different people on different deals and different plans and they've all negotiated with and you've, it's impossible for you to grow and scale that business. So I'm going to also challenge this group. Anybody that's listening, clean that up. We got to get rid of all that.

[00:28:19] That, that is just, it's bad for business. It's off brand. It's not respectful for the people who actually are fully invested and truly committed. And you're decreasing your own worth and value. And so, you know what? If someone's not committed and not committed to following your recommendations and paying your fees, they're not ready. And they'll come back around when they're ready and they will commit. And they're going to say, you know what? I'm thankful. I'm back. And I want to do your program. I want to follow your lead because I trust that you're the right person.

[00:28:47] Because you want, you let me leave and you didn't change and compromise what your value was. And I think that's really important for us as chiropractors because we want to help as many people as possible. Dr. Stephen, I know that's my heart, but man, you've got to hold the line. So I think I want to stay with this pricing thing just a little, just another minute here, because I know that people have so many hangups on this. I know a couple of laws of the jungle. And one of my favorites are the people that pay the most attention. And I need people to sit with that for a second, right?

[00:29:16] Like you want patients to be committed, right? So, you know, when you think of, when you really get serious about what we're doing here, when you start thinking about the outcomes, the potential outcomes, the path forward for them, right? There's two lives ahead of them. There's the life of possibility and there's the life of probability. And not to be dramatic, but you're standing there and you're literally, your report of findings and recommendations are here. This is a fork in that road. Like, do you feel that? Like, here's what I know to be true.

[00:29:44] It's like, to find certainty, you need to get your feet planted into the granite of your belief system. Don't overcomplicate this. Like at the end of the day, my feet are stuck to the floor. The granite I stand on is if these people would just do what I'm telling them to do, their life would get better. I am 100% convicted of that. I am, when I'm speaking to somebody, whether it's a patient or a coaching client,

[00:30:11] I am only going to tell you what I know is going to drive a better outcome and a better experience for you. That's it. So I know my innermost dominant thought that I learned from John Demartini, my innermost dominant thought is if these people would just do what I'll tell them to do, their life will get better. I know that. I have such conviction around that. And that's what the patients pick up on. Your conversion is a reflection of your conviction. So when you're giving your recommendations for care, your conversion will be a reflection of your conviction.

[00:30:40] So get real with that and get right with that. And when you just recognize it's like the outcomes, think about the value of your care. People aren't paying for care. Listen, and you're not charging for care. So let's remember something. You're not charging for the adjustment. Right? The adjustment is the Heimlich maneuver for the nervous system. You don't charge for a Heimlich maneuver. Right? So why is the Heimlich maneuver invaluable? It's because what you're doing is you're removing interference to the flow of air in the body.

[00:31:08] And if you do not remove that flow of air, that's the result. The outcome is death. And for this manual, simple, but incredibly effective and brief experience, you can clear the airway and a person's, the life of possibility goes on. Right? So if you do not deliver that maneuver, the probability is that that person's dead. You are removing the blockage to the flow of life. I'm not trying to be dramatic here. I'm just like, do you really own this? Like what you're doing with an adjustment?

[00:31:37] The chiropractic adjustment is the Heimlich maneuver for the nervous system. Do you own that? Like you're charging for an outcome, not a service. People will pay for the outcome and you need to get oriented to that. Right? So this is like, there are two, there's two lives ahead of you. One that's subluxated and one that is free of subluxation. This is what you're selling. Right? So don't lose sight of that. So when it comes to your pricing, you need to be thinking about the potential life ahead of this person.

[00:32:06] They walk out subluxated or they walk out subluxation free. That's the decision. That's the fork in the road, Dr. Pete. And that's how you get your head right around your pricing model. So at the end of the day, what I know to be true is it's about give love and serve, right? BJ Palmer said it best. How do I, what is the key to becoming a successful chiropractor? You got to give love and serve, right? So let's talk about that. What's the price we should charge for the chiropractic adjustment? What's it worth when you remove the interference to the expression of the innate potential of

[00:32:36] the human body? And when you remove the interference to the body's ability to express its health potential, to heal and experience health potential, what do you charge for that? What do you charge for a Heimlich maneuver, right? So it's a ridiculous proposition. It's a ridiculous question. So you know what the truth is? We give the care away. You give the care away. It's priceless. Give love and serve. We give the care away. We love everyone. And we serve them with an education.

[00:33:04] It's an education that will shape and challenge their belief system. It'll change their belief system and their belief system will organize their behaviors for life. So what you're charging for is the tuition for the education that will change their behaviors and change their life and their family's life forever. Please stick around for more business insights from this week's bonus interview with our remarkable

[00:33:29] success partner dedicated to helping you more successfully help more people. Enjoy. All right, you guys, I am here today with one of our amazing success partners. One of them that's been with us probably since the very beginning. Beginning. Yeah. The very beginning. Thank you. And your beginning too in your practice as well. A hundred percent. It just makes me old. That's what it means. 16 years with Clinic Mind Genesis. So yeah, we're going strong.

[00:33:58] So welcome, Dr. Brian Capra, president of Clinic Mind. We're going to dive right in. So first things first, tell us a little bit about what Clinic Mind's been up to and the problems that you're solving currently for chiropractors who are looking for better EHR. Yeah. Well, first of all, thank you for having me as always. Great to see you. You know, it's been a great journey watching TRP grow and growing with TRP. So long relationship and fruitful and a lot of enjoyment too as well.

[00:34:28] So your question was, what do we do for the... For the chiropractors and how are you helping us solve problems specifically that are going to be addressed by our EHR systems or switching to a better EHR system? Yeah. Well, EHR is just one cog in the machine, right? So it's not about EHR anymore. I mean, or it used to be practice management software, then it was EHR, then you had a whole bunch of disparate tools and systems trying to run your practice.

[00:34:58] And where we are today is that for any season that you might be in, whether it's launching your practice or scaling or growing or exiting, it's one platform that gives you every tool you possibly need from the first day you start. And that just wasn't possible even just a few years ago. So what we've done now is built it all, all on one platform. So you have everything you could think of from attraction, conversion, retention, right? All the TRP lexicon, if you would.

[00:35:28] So you can manage your website, you can manage your ad spend, you can manage your advertising, you can leverage AI tools to help you write content, create posts, schedule your posts, all that attraction stuff, you know, all your funnels and landing pages and all that stuff, but integrated with your practice and the management of your patient's experience inside the practice on top of that. So retaining patients, right?

[00:35:54] Reminding them of their visits, asking for reviews, reactivating patients, automatically responding to them, staying in communication with them. Of course, the scheduling and the care plans and the payment processing and the documentation and the x-rays and everything you can think of. Now, what used to be in the past is when you wanted all those things, say you were a new practice like you were back in the day and you wanted, if all those things existed, you'd

[00:36:22] have to go out and find a whole bunch of different vendors, buy those things, subscribe, typically, pay a monthly fee for each one of them, then have the integration, make sure the integration was set up, get trained on each individual product. And then hopefully somebody on your team knows how all of that works because you're not going to remember it all because you're not using it every day, right? You're going to remember your piece. And God forbid anything ever goes wrong or God forbid you lose a team member, you know, it happens, they move on.

[00:36:51] Um, they go to bigger, better things, whatever it might be. And they take with them all the knowledge of how all that stuff works, right? There's no unified support. There's 15 different logins. Well, what we've done with Clinic Mind now is literally one login. You get everything. One training and support system. Your new team member can just ask how to, how to use each individual piece, but as one support system.

[00:37:20] And usually, you know, in the past, you'd have to buy all those and subscribe to all those different things. And what happened over the years, by the way, is we were a software as a service when it was a new thing. It was a subscription model. It made a lot of sense at that time where you would pay a subscription because your software would continuously improve. Um, so you're not buying a static license. You're buying a product that evolves over time. Like you've seen, we have that made sense, but people figured out.

[00:37:48] Small companies figured out how to build small little components of something that was important for a practice, like a dashboard or reminders or something like that. Yeah. And make a whole nother company out of that with a whole nother 300 bucks a month. Right. And so that started, that had a lot to do with private equity and valuations and exits and all that stuff. And not a lot to do with the doctor and getting a return on your investment.

[00:38:14] So we've changed and we've, like we were pioneers in the SaaS world. We are now pioneers in a different world, which is called practice growth as a service, right? It's a platform that literally from the first day you open your practice, you get every single tool and you pay as you grow. So you start at a low fee, like 97 bucks a month. You pay $2 per visit. 97 is the minimum.

[00:38:42] And you never pay more than $950 a month. So even at the largest practice, you're paying $950 per month, which is way less than you'd be paying for clinic mind for the review platforms, the dashboard platforms and the payment processing platform and your billing service and all that. So we've really kind of taken the next step and introduced practice growth as a service

[00:39:09] and a full platform that can take a practice from day one all the way through exit. And an exit is super important that you have everything on one platform. Yeah. Investors are looking for operational control and simplicity. They want to just be able to buy one thing and not have to deal with 15 different vendors and all that stuff. So. Makes sense. That's what we're doing. No, that's huge.

[00:39:36] Earlier today, I was having a conversation with my COO, my office manager, who has been on the phone and on Zoom with your teams looking at, because we are that practice that had found a lot of different pieces that could be integrated in and now are planning and preparing for how do we move into more of what you guys have built, knowing that it that is the mode we want to move into.

[00:40:02] But, you know, there's a lot happening in the midst of a busy practice and trying to figure out how we will make that happen. Yeah. Transition. The upside is huge, though, especially with some of the things we're talking about doing together, it's when we're able to build one platform that's already done, right? Literally done as opposed to having to. You want to replicate a very specific process. So being able to literally just cut and paste once you have everything set up with just

[00:40:30] clinic mind, it's just done, right? Not OK. You have to cut the same thing. You have to contact these 15 vendors to get things set up the way I do them is a whole another animal. Yeah. So it's been exciting. It's been, as you know, a lot of growth and trial and error and implementation. But once you get there, it just runs like a machine. You can literally do anything you could think of on the platform now. Yeah.

[00:41:00] OK, so follow up question to that, because I think you are ahead of all of us pretty much in knowing what is possible with some of the tools that are now being rolled out and what will be possible for an office to have access to something like this and not have to have five different things plugged in together and this chaos, even though it hopefully has made the office more leveraged. It also, to your point, is like if somebody leaves, not everyone knows how it's all plugged

[00:41:30] in together and how it's working. So when you look out to the profession at large and what is possible with AI and with some of these things that were being offered now through clinic mind, like what do you see? What do you think the office in the future, even just a year or two in the future, has access to that we're currently like just dipping our toe into? So I think it's there's a lot. I think that's going to happen. One thing is, like you said, the cloud, when we started 20 years ago, that was a new thing.

[00:41:59] We were pioneers on the cloud. We have a whole bunch of practice management, whatever software is trying to get into the cloud today, not realizing how difficult that was even back then. But it was a detractor back then because people were afraid of the Internet. Now it's expected. So just like that, people are going to... The thing is, we should trust you because you've demonstrated you're ahead of the curve by quite a bit. We've always been ahead of the curve. We're pioneering. So where we're going now, you should pay attention. This is what's going to happen.

[00:42:28] So first of all, what that does for us, as you know, with data and research, we're contributing to a huge data lake because we're in the cloud and we have outcomes data. That data will be used to revolutionize the way research is published. The speed and efficacy of how research is actually created now is going to increase to light speed now. It's going to be much better. And it levels the playing field for chiropractic.

[00:42:57] We don't have big pharma that we... We don't have that kind of money, the investment. Not yet. I think that's a really important thing for chiropractic that we attract investors, the PE money in the right way. But the cloud and the data lake, that's going to be huge. But just on the practice level for the individual practitioner, whether it's one practice or multiple sites or whatever, AI is doing simple things, for example, like confirming your appointments,

[00:43:24] but calling your patient and confirming the appointment with an AI voice. And if they can't make it, rescheduling them the whole thing. That's a cool little thing. But really the coolest thing I think is coming is AI is actually going to participate in the growth of your practice. AI and automations and just some things. So before, your software made some things you were doing on paper better, maybe a little easier, maybe a little nicer because you could store it differently or whatever.

[00:43:54] So it made certain things a little bit easier for you. Now it's going to do things you can't do. Right. Right. So now it's going to actually grow your practice. It's going to actually reactivate patients, which we're already doing. It's going to generate referrals in your practice. It's already responding to your reviews. It's scheduling new patients actively, either by chat or by voice right now.

[00:44:18] What's coming next is I see, and I already have some things in the works, where it'll actually communicate with your patients and educate your patients, whether that's the TRP 30 dozen, or it's specifically about products or services that they specifically need for them, whether it's their demographic, their age, their gender, where they live in the country. Understanding what they need, educating them on it, delivering them that education and delivering

[00:44:48] them a way to actually acquire, purchase that product and drive revenue into practices. It's going to be, I think that's a game changer. That's actually going to be happening pretty quickly within the next year. I can see that starting. And it's an important thing for chiropractic because we have to really drive up the revenue in our practices and start to attract private equity, which can be, there's a lot of misconceptions about, but if we really want to do what we say we want to do in chiropractic, we need

[00:45:17] a lot more money to flow into the profession. So that's going to be a huge part of that. You know, other things like making it super easy for you to add other profit centers in your practice, such as mental health, which chiropractic, I think started at a mental health hospital, didn't it? Something like that. Yeah. It was there early on, right? And then we've totally gotten away from it because we can't control it. We're afraid of what's going to happen to our patients. I totally get that.

[00:45:42] But there's ways now with telehealth without adding a square foot to your practice and keeping it in control, adding mental health to your practice, mental health services. That's an example. You got telehealth, you got automated screening of patients. You can automatically refer, control who they're referred to and actually keep them as an employee in your practice. And it drives revenue into your practice. So mental health is a super important thing. It's a growing problem. We can't ignore it.

[00:46:09] We don't refer because typically, because we're afraid that our patients are going to wind up drugged up. And I get that. But the thing is, they're going anyway and they're getting drugged up and we got to do our best to prevent that. So there's a lot of things that are happening now with technology. And there's, I can't even imagine. In a year, we've seen in just six months. We'll have another conversation. Yeah. It'll be totally new possibilities. But we'll be at the forefront.

[00:46:39] That's for sure. You know, I believe that. And I also believe, you know, in our evolution of having multiple practices and then a unique practice in the schools, like you guys have always been able to grow alongside us, help us figure out how to, at the time, use some of the plugins available that we needed for automations and making things possible. And I think that's what I appreciate most is that I do really feel like we're able to keep growing in ways that EHR has never been a constriction point for us.

[00:47:08] And I know you said you're more than EHR, but in my mind, that's what I've labeled you as. Right. And now that you can do so much more for us, it's like, okay, now, you know, we get to like jump into this and figure out what else we could be doing that we didn't even realize was possible. So that's exciting. And it's awesome because, you know, in chiropractic and technology companies, they're not typically at that, with what we're talking about, the level of technology, we're not, they're not really attracted to chiropractic as a, as a profession.

[00:47:38] We're lucky enough to have started in chiropractic and you've met some of my team have a really amazing team that, that are super intelligent that can build these types of things. Um, but typically chiropractic EHRs, you know, air quotes are not going to go to that extent to build the level of tools that we will. And we are. Awesome. Okay. So if people want to have a demo, learn more about working with ClinicMind, where, where should we send them?

[00:48:09] ClinicMind.com. If you ever need to have a question, you can always reach out to me, drbryan, drbryan at clinicmind.com. So clinicmind.com, there's an easy way around on top of the website. Just click, you pick your time, schedule your demo and, and take it from there. I mentioned TRP. Yes. And I will follow up with, you do have an amazing team. So thank you. Yes. Appreciate it. Thanks for your time today and for being our amazing success partners. Pleasure.

[00:48:37] Thanks for listening to this episode of the Remarkable CEO Podcast. Remember what the world needs now is chiropractic. And what chiropractic needs now is more successful chiropractors. If you like this podcast, please subscribe, share with a friend, and leave us a review. And if you'd like to connect with us personally, direct message us on Facebook, LinkedIn, or Instagram. Now go and be remarkable.