379 - Practice Growth Strategy: Optimize Capacity Before Adding New Services
The Remarkable CEO for ChiropractorsOctober 13, 202600:32:2729.72 MB

379 - Practice Growth Strategy: Optimize Capacity Before Adding New Services

Adding more services can feel like growth, but if the practice is already unclear, underutilized, or operationally stretched, more can quickly become a liability.  

Dr. Pete and Dr. Stephen challenge CEOs to get clear on the identity of the practice before chasing new modalities, revenue streams, or opportunities, distinguishing between a chiropractic-centric model and a broader wellness model where the adjustment becomes one offering among many. They connect that decision to brand positioning, patient communication, team training, operational complexity, and practice capacity, revealing why clarity must come before expansion. The goal is not to resist innovation. It is to build intentionally, maximize what already works, and ensure every addition strengthens rather than dilutes the main thing. 

In This Episode You Will Discover: 

  • The distinction between adding complementary services and quietly changing the identity of the entire practice.  
  • A critical question exposes whether the marketplace actually understands what the business stands for.  
  • Why every additional offering raises the standard required for communication, training, systems, and patient understanding.  
  • The 20% capacity problem challenges the instinct to add more before maximizing what is already there.  
  • A simple motivation test separates services designed to improve patient outcomes from additions intended to rescue revenue. 

Episode Highlights 

01:27 - A growing list of opportunities raises an important question about what should remain at the center of the practice. 

02:16 - Two different practice models begin to reveal why business identity has to be decided before growth accelerates. 

04:31 - A simple restaurant analogy clarifies what it looks like when one service remains central to everything else. 

06:15 - The demands on communication, systems, and training start to change when the business becomes more complex. 

09:59 - Looking at the practice and the business as two sides of the same coin exposes a distinction every CEO needs to understand. 

12:33 - One question about vision brings the entire conversation back to the kind of practice the CEO is actually trying to build. 

13:32 - A branding distinction reveals who ultimately decides what the business stands for. 

14:30 - The gap between interest, belief, and understanding becomes much harder to manage as more services are added. 

16:06 - A surprising capacity issue challenges the assumption that expansion is the next best move. 

17:14 - A vivid analogy captures what can happen when more complexity is added to an already overwhelmed business. 

17:31 - The reason behind adding a new service becomes an important test of whether the decision actually supports the mission. 

18:47 - A profitability question redirects attention toward what may already be available inside the current business. 

20:19 - Better decisions start with better data. Dr. Stephen sits down with Dr. Josiah Fitzsimmons from Success Partner Lucro to discuss insights from the 2026 State of Chiropractic Report and how Lucro helps chiropractors benchmark performance, uncover hidden opportunities, and make data-driven decisions that improve profitability and long-term growth. 

 

Resources Mentioned 

Learn more about the TRP Remarkable Practice Immersion Nov 13 & 14, 2026 in Adelaide, AUS - https://theremarkablepractice.com/upcoming-events/   

To learn more about the REM CEO Program, please visit:  http://www.theremarkablepractice.com/rem-ceo 

For more information about Lucro please visit: https://morelucro.com/

Book a Strategy Session with Dr. Pete - https://go.oncehub.com/PodcastPC  

Prefer to watch? Catch the podcast on YouTube at: https://www.youtube.com/@TheRemarkablePractice1  

To listen to more episodes, visit https://theremarkablepractice.com/podcast or follow on your favorite podcast app. 

[00:00:00] For so many entrepreneurs, business owners right now, chiropractors that are out there, they feel like, you know, they're busy, busy, busy, busy, and they're overwhelmed, whatever. And adding different services to a busy chiropractor is like throwing a baby to a drowning person, right? It's like, all of a sudden it's like, well, now what do I do with this, right? So like you said, capacity is really the issue.

[00:00:19] 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] Welcome to another episode of the Remarkable CEO Podcast, Chiropractic's number one business podcast. I'm Dr. Pete Camiolo. And I'm Dr. Stephen Franson. And it's an honor to be with you, Dr. Stephen. It's great to be with all of you who are tuning in and listening today. We do not take it for granted. We do not take it lightly. Anyone that tunes in and listens for any minutes, we're very grateful. So thanks for tuning in. I think you're going to enjoy this episode because today we're speaking to the heart of the chiropractic.

[00:01:22] Business owner, the heart of the leader. Ultimately, the heart is where we start. And today we're going to talk about running businesses and keeping the main thing. And how do you do that in a day and an age in the profession where there's so many bells and whistles, so much temptation to go, to grow, to innovate. And we are in the business of saving lives. And we are also in the business of figuring out how to do that well without compromising the main thing.

[00:01:49] Dr. Stephen, I know you're coming in hot. You're passionate about this topic as well as I am. And we're excited because we're coming. This is probably the fourth quarter of 2026 right now where this episode is going to probably land. I think we're right here at that moment. And you know how it is in the fourth quarter. It's game time. It's game time. So great to be with you today, Doc. Yeah, man, I'm psyched to have this conversation. We've been, I won't say, we've been leading up to this conversation. We haven't been dancing around this. We don't dance around anything, right?

[00:02:19] But we're getting after it today. And you know, hot take. We might trigger some people. We might ruffle some feathers today. That's great, right? So the conflict clarifies. Let's clarify a few things. And one thing I want to clarify is that we're not going to disparage anything other than confusion.

[00:02:38] That's a terrible thing. Confusion is off purpose and bad for business. So we want to make sure that everybody hears us now. We're not about to lay down some straight hate, but what we do hate is confusion, right? So confusion by our doctors, our business owners, our team, our patients, the marketplace. We can't confuse the marketplace because confusion never converts and we can only help the people that we convert.

[00:03:03] So this is the heart of this conversation is what we want you to get clarity, right? So we really love for you to just land on, you know, your own identity of like, who are you as a business owner, as a practice owner, as a chiropractor, right? So we're going to compare and contrast two different types of chiropractic practices and businesses. One, I'm actually going to call the chirocentric business.

[00:03:26] And the chirocentric business is that adjustment focused practice where, you know, the main thing is the main thing, right? And their platform is the chiropractic adjustment, right? Chiropractic itself. Now they may offer modalities that either support or accelerate or amplify the, uh, the effect of the adjustment. That's, but the adjustment is positioned as the main thing versus that chiropractic practice and business that has, they do chiropractic care.

[00:03:55] They do chiropractic adjustments, but let's be truthful about it. Chiropractic care is on a list of wellness offerings, like an a la carte menu of this. Yes, we do chiropractic adjustments. And it's one of the things that we offer here in this practice. I hope you guys hear the difference because these are two wildly different things. And let me tell you this right now, you can be successful in either one of the environments. Okay. But you cannot be successful if you don't decide which of those two you are.

[00:04:25] That's good, doc. You know, you were talking and use the word menu. And I was thinking about just if you go to a restaurant, it's almost like, if you think about it this way, chiropractic is the water and the bread that automatically gets brought out. Like it's not a question of whether you're going to get water and bread, like in a chiropractic centric business, right? That's essential. Like you're going to be getting hydrated. You're going to get some food in the body.

[00:04:52] Like we have to draw a line right now in, in our profession, right? We're talking about chiropractic 131 years in this. And there's never been a better time to be a chiropractor. I asked this question recently when I was out, I had the opportunity to speak at the wave doc, as you know, and I had the opportunity. I had asked that question. The first time I asked it, I didn't get much of a response.

[00:05:14] I asked it twice just to make sure I was, everybody was listening. And the truth is, Dr. Stephen, when you were in school, they said that. When I was in school, they said that. And when I was at the school, I said it again. And the reality is, is it's because it's true, because there's never been a better time to tell the truth. There's never been a better time to bring a message of hope, health and healing. There's never been a better time than to remove the interference.

[00:05:38] There's never been a better time to set the captives free. There's never been a better time to shine light in the darkness and set people on a path to reach their full God-given health potential. There's never been a better time than that. And there's never been a better time to share that message and add in another message or two that's only going to amplify or accelerate or support that which the people who you are messaging to, the people who you are serving, what they need, and to be able to meet that need but not create confusion.

[00:06:07] Right? So this is where we have to be excellent in our communication. We have to be excellent in our organization. We have to be excellent and world-class in our systems. We have to be top-notch when it comes to our training of our people, because from the beginning, right out of the gates, if you're not crystal clear, you're starting with a broken foundation. And when you build on a broken foundation, it's like building a house on the sand. The storms are going to come because we're in business. The storms are going to come because we're swimming upstream. We're countercultural already.

[00:06:35] And when the storms come, that house will collapse. And we need to make sure we build our house on the granite, on the rock, on the foundation of the principles that we have. We were started on, right? We, we, those have not changed. Those only become more true. And so Dr. Steven, I think what you're saying is, and I hope this is an encouragement to all of you chiropractors, because there has never been a better time to share the message in the marketplace. There's never been a more available audience to hear it because everybody's listening.

[00:07:02] The question is, are they hearing you? Are you speaking to them? Are you speaking to them and into their listening? Are you working on your ability to communicate and articulate? Are you organizing your business in such a way that you're able to deliver world-class value of chiropractic centric? And again, this isn't a better or worse one you should do or shouldn't do. Dr. Steven said, this is an episode we're going to ruffle some feathers. So you're getting me straight. You're getting me shooting straight right now. And I don't want to, I don't want to create confusion. I'm a chiropractic centric chiropractor.

[00:07:32] I want to see people from womb to tomb. I want to tell everybody the message. I want everybody to get on their regular chiropractic care. That's what I desire. And I have no problem doing that and providing other value and service for my people. I have no problem with that, but I would not ever do it and compromise the main thing. And I think many of you who tune in and listen to this podcast, I think that's where you're at. Some of you maybe are not, but, and I'm not saying you're wrong. I'm not saying I'm right. I'm saying what Dr. Stephen said is you, what is success?

[00:08:01] Where your core values, your vision story, and your behavior is all aligned. That's success. So for me, that's success. What does success look like to you? You need to know that because again, that level of conviction and clarity and vision and that certainty and all that that's there will then begin to get watered down as you share it. So you've got to be clear, especially as we go into 2027. Hey doc, Stephen Franson here. If you're like me, you know that we're in the business of saving lives.

[00:08:28] 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?

[00:08:58] 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?

[00:09:29] 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?

[00:09:56] 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.

[00:10:26] 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 in creating the business that supports your Remarkable Life, not competes with it. So let's create some context for this conversation, Dr. Pete. So in this podcast and inside of the Remarkable Practice, you hear us teach the two sides of the chiropractic coin, right? There's the practice and there's the business.

[00:10:54] And I want everybody to recognize the power of that. Because that just throws our arms around all of you. Anybody that's listening right now, it's like you have two sides to the chiropractic coin here. There's the practice side and then there's the business side. The practice side, that is the healthcare entity that exists to deliver healthcare, to deliver better health experiences, to deliver better health outcomes for the patients, right? So that is your operations when you talk about the practice.

[00:11:23] It's your day one, day two, day three, day four conversion process. It's your week one, week two, week three, week four, month one, month two, month three, month four, year one, year two, year three, year four retention and delivery process, right? So on the other side of the coin, that is the business, okay? And the business is the economic engine. And the economic engine that exists to deliver productivity in the form of revenue and profit for the owners, the investors, and for the team, right? This is the finance. This is the economics.

[00:11:52] This is the money, right? So on the practice side, guys, you got to think about the practice model, which is today's conversation. It's the practice model, which is on the business side, it's the business model, which is also today's conversation. So on the practice side, you've got the patient care. You've got to think about this as like, this is all about patient care. We're on the business side. This is all the financial modeling, right?

[00:12:18] So on the practice side, this is about throughput, which is patient services, throughput, right? So what are you delivering for patient impact, right? So on the business side, you're talking about output, which is the financial results from the throughput. So I want to make sure everybody has their thinking caps on here today, we're going to have a conversation on both sides of it. It's like, but when we talk about your practice and your business in TRP, we coach both sides of the coin.

[00:12:44] So the remarkable practice system, the remarkable practice system is the operation system. I can tell you right now, we teach a practice model that is chiropractic centric. It's chirocentric. It's adjustment focused. That's our practice model. And that applies to chiropractors who want to have a chiropractic central practice. On the other side of the coin, we're teaching a business model. We're teaching the economics, the finance. We're teaching chiropractic business school.

[00:13:11] And listen to me when I say this, this applies to everyone who's running a chiropractic business. It's business is business, right? So regardless of how you run your practice, start to beat, it's important that people understand. It's like we coach a lot of people who don't have a chirocentric or an adjustment centric practice, right? So we get to see both sides of the story, right? So what's important is what I want you to hear is you have to design this. It has to be a vision that you know which one you want to be.

[00:13:41] So good, bad, or indifferent, not one's better or the other. I'm telling you right now, Dr. Pete and I are both adjustment focused chirocentric practitioners, the way we ran our practices, right? So we both slant in that direction, but we want to have an objective conversation right here. And the message I want you to take home is, do you know who you are? What is your vision story? What are you trying to create? What does the blueprint look like? Are you trying to create a chiropractic centric practice where you're like, no, man, I love adjusting.

[00:14:11] I love chiropractic, but I have this whole wellness menu, this a la carte menu with the adjustments happen, but it's just one of the many services. And where the rubber hits the road, Dr. Pete is not in what you say. It's what your community says. So your brand is not what you say about your business. Your brand is what your community, what the marketplace says about your business. Your brand is not what you tell people about your business. Your brand is what does the market say about your business.

[00:14:38] And what the market says about your business is what they hear from you and what they experience from you. Okay? So what is the market message you're sending out there? What is your marketing saying? What is your market message? What are your market promises? What are you making for a marketing promise? Right? So you got to be super clear in this, guys, because if you want to know, hey, I absolutely want to be a chirocentric versus like, no, no, that's not important to me. I just want to offer chiropractic care as many services. You have to know that you've got to design that.

[00:15:06] You can't just hopefully back your way into it. Right? So that's going to create confusion. And as I said, confusion never converts. And, Doc, as you're talking, I'm thinking about all the amazing CEOs that we work with who've done this so well. Right? I think of all the great CEOs who have built chiropractic-centric practices.

[00:15:26] And then I think of all the amazing CEOs who have built chiropractic-centric practices and be able to add additional services that support, amplify, and do it very well. And many of you are listening, I hope. And I want to recognize you for the work, because it's a lot of work with Dr. Stephen, you're describing. It's hard enough to do one. It's hard enough to have one message and deliver it clean and well, because there's a difference between a seeker turning into a believer.

[00:15:56] That's a skill. That is a huge cavern between seeking and believing. That's worlds apart. Then there's a whole other gaping cavern from believing to understanding. And there's this, we live and die in transitions, but we live and die in the gaping holes. Like, this is where we're losing people between a seeker and whether I chose to follow, and then if I even believed. There's a huge gap.

[00:16:23] And then the gap between I believed and now I understand is a huge gap with one thing. You add in another couple things. We're the ascension of understanding as 3x, 2, 3, 4x. So your sophistication, your team, your training, your systems, your communication has to be that much sharper, that much more remarkable.

[00:16:49] So I'm telling you right now, and we recently did an episode, you might have listened to it if you haven't, go back and listen to the episode we did with Dr. Josiah about the capacity. Most chiropractors right now are functioning at a 20% capacity with the very business they have right now without adding anything else. More people, more hours, more shifts, more modalities, more anything. 20%. That's like, oh, what am I thinking? One fifth. Yeah, one fifth.

[00:17:15] It's like the kids with the ketchup, they open the ketchup, squeeze a little bit out, throw the thing in the trash. Like, bro, it's full of ketchup. What are you doing? It's almost all the way full. Why are you throwing it out? I had to throw in an example, Dr. Steven, of what kids do. But at the end of the day, we're squeezing and we're getting 20% out of the businesses that are, the majority of businesses in chiropractic right now, based on the financial metrics and reporting we're getting out of lucro. That, to me, my friends, is a big issue.

[00:17:42] So, to me, Dr. Steven, this goes back to the root and the core, which is if I haven't handled well, it's the law of dominion. If I haven't demonstrated well, the capacity to manage well, that which I've already been entrusted with, how is me adding more to what I'm entrusted with going to fix that? I don't know. Yeah, so for so many entrepreneurs, business owners right now, chiropractors are out there. They feel like they're busy, busy, busy, busy, and they're overwhelmed, whatever. And adding different services to a busy chiropractor is like throwing a baby to a drowning person, right?

[00:18:12] It's like, now what do I do with this, right? So, like you said, capacity is really the issue. I think when we back it up is like, why are you adding other things to the chiropractic practice? Like, this is an honest conversation. It's like, really, it's like, if you are like, I am adding these other services because I know that they're going to drive better health outcomes for my people.

[00:18:33] I know that because of their toxic and deficient lifestyles, I know that the adjustment itself is not going to get them to where they're trying to get with their health goals. I know that me and my family leverage and use all of these modalities in our life. Why wouldn't I bring them into my practice to support, accelerate, and amplify the effect of the chiropractic care? And I know we're going to drive better health outcomes, which is going to drive greater retention, referrals, and revenue.

[00:19:02] It's like, man, I love that song. That was our practice, right? So, I'm fully in line with that. But if you're like, I'm just going to add modalities because I'm trying to make more money, and there's no judgment here, guys. Listen to what I'm saying. Like, objectively, if you're like, man, the profit's just not there. I need some more growth. I need more revenue and profit. It's like, oh my gosh, I'm trying to make ends meet, and I just want to grow this practice. So, yeah, why don't I add more offerings so that I can make more money?

[00:19:31] No judgment, but I'm just saying it's just like that's illogical when you recognize you're not optimizing what you are already doing, right? The first money you should be looking for is how do I optimize what I have? Then you can start complementing those services. So, it's not – and it's all about positioning. It's not about your offering. It's about the positioning.

[00:19:50] What we're saying is you can have your cake and eat it too here, but it just takes an extraordinary discipline and a skill set to be able to make sure that you're positioning these other modalities to support the adjustment. And, by the way, you're going to increase your profit margin because most of these things can be delivered at a higher profit margin, right? So, it's a win-win-win if you position it properly. And you have to be really intentional about doing it from the beginning because, as you said, Dr. Pete, it's incredibly difficult to do this.

[00:20:19] Please stick around for more business insights from this week's bonus interview with our remarkable success partner dedicated to helping you more successfully help more people. Enjoy. What's up, Remarkables? We have an opportunity to pick the brains of one of our smartest, most successful success partners, one of the sharpest guys that I know in chiropractic.

[00:20:44] You probably recognize the name, Dr. Josiah Fitzsimmons and his awesome group, Lucro. Josiah, we're psyched to have an opportunity to discover what you discovered as you put together what I think is the most complete, comprehensive, and compelling industry study that I've seen in a while, right? So, I'm the numbers guy. I love the metrics. I know you're the numbers guy now. You love what you're doing with your metrics. We'll talk about that. I'd love to be able to discuss today.

[00:21:13] What did you guys unearth? What were the three most notable findings that came out of your recent state of chiropractic, the industry state of chiropractic study report that you guys just put out for 2026? Talk to us about what were the most interesting findings. Absolutely. Yeah, we'll definitely get a link so everybody can download it, but we've compiled data now from about 400 clinics, over $350 million in annual revenue inside of our report.

[00:21:40] The average clinic inside of Lucro right now is doing over $800,000 a year, so definitely higher level performing clinics around the country. But one of the things that stood out to me right off the bat was the profit that's being left on the table. What we found in the report is that the average clinic should be generating $97,000 more in profit, not in revenue, but bottom line profitability that they're not maximizing their space or their team.

[00:22:08] And so we found $39,000 in underutilized profit from team that they're already paying for and then another $58,000 of underutilized space. So they have the space, they have the availability to see more volume, to generate more revenue, and that's leaving a combined $97,000 of profit on the table. Okay, so let's stay here on number one. So just the fact that these practices are not optimized, right?

[00:22:35] So there's so much more capacity that people are not getting all the juice for the squeeze, so to speak, right? So I can't tell you how many chiropractors approach us and say, hey, I'm thinking about opening a second clinic or a 17th clinic, what have you. And they just haven't optimized their clinic or their existing practice or their other practices. And there's just so much more meat on the bone, right? So when we talk about how to solve this problem, we always say there's three steps.

[00:23:03] You've got to operationalize, then professionalize, and then optimize, right? So operationalizing is your systems, professionalizing is your people, and then optimizing, which is what you're talking about. You have so many hours, you've got fixed overheads. You're seeing more people, your overheads are not going to go up. Your profit margin is going to go up, right? So that's what I'm hearing from you is that these businesses, these practices are just not optimized. And did I hear that number right? Did you say $97,000 of profit? Bottom line, not top line? Yep, exactly. $97,000.

[00:23:32] Yeah, you're exactly spot on. Most people have the capacity to generate tons more revenue and obviously profitability, but they're not maximizing what they already are. And so you're totally right. People are trying to find the next shiny object, trying to do the next practice, trying to add the next service, trying to increase hours or do all these other secondary things when they have potential profitability just sitting right there in front of them that they're not taking advantage of. Yeah, I like to say that every $97,000 helps. All right, so what was the second thing?

[00:24:02] What did you guys unearth as you were putting together this industry report that you consider the most notable findings, second most notable findings? Yeah. I would say this one for me was really notable for me that I was really surprising is the average clinic of all of the 374 clinics in our database, the average clinic was generating or charging on average $61 per chiropractic adjustment. The top 10% clinics, okay?

[00:24:31] So our average clinic was doing about $830,000. The top 10% are doing about $1.7 million. They're averaging $63 an adjustment. So from $61 to $63, I mean, essentially the same number, right? And so that was really surprising. They're double, you know, the average clinic size and they're charging about the same exact amount. So what are they doing? Is they're obviously optimizing, like you just said, they're maximizing their capacity.

[00:24:58] They're doing a much better job of maximizing what they're already paying for. They're charging about the same amount, but they're obviously seeing more volume. Yeah. You know, as I was reviewing this report myself, I was actually scrolling through it on my phone on an airplane, which it was good stuff because I don't really typically like to read things on the plane like that on my phone, I should say. And that was something that really stood out to me. I was like, wow, look at that.

[00:25:22] CVA or collection visit average was almost the same for the, let's call it average performers versus the top performers. You would, that, that broke my guessing machine. I would have thought that you would have seen just greater disparity and those bigger revenue practices were generating a lot of that revenue by charging more for their services. But the essence of it was in chiropractic, what we're seeing is it's usually made up in volume and it's more of a volume play than it is a pricing strategy.

[00:25:47] Now, if we were having a profit conversation, we all know that increasing your prices is the fastest way to increase your profit. You know, that'd be, that's a different conversation. But when we just talk about top line revenue and the size of the businesses, the delta between average practices and the top practices was much, much smaller than I expected. Yeah. Very surprising to me. I was saying exactly. I thought there'd be a bit much bigger discrepancy between the two. All right. How about number one? What's the, what's the thing that you said really just stuck out to you? Yeah.

[00:26:16] For me, it was the actual profit margins of clinics across the country. You know, before I opened my practice, even since I've been open before we had all this individual data, you know, that's when most practices that I talked to were always claiming 40, 50% profit margins. You know, is what most doctors have said over the year and kind of as a benchmark profitability, even as a goal. And so even before we had a lot of this data, even our perfect P&L, I think was a little skewed with too high of a profit margin for clinics.

[00:26:44] And so what we found is that the average profit margin across the entire band is between 25 and 35%. And so the zero to 50,000 revenue band per month in generating revenue, 25% profit margin, 50 to 100K, 28%.

[00:27:02] 100 to 150K, 30%, 150 to 250K a month, 28%, 250K plus highest profit margin, actually 35%. And so a lot of times we talk a lot about, you know, you'd rather have 20% of a grape versus 40% of a watermelon. What we actually found is that people are get the highest generating revenue clinics are also the highest profitable margin clinics. So they're getting 35% of a watermelon.

[00:27:30] And then the smallest clinics actually had the lowest profit margin, you know, so they're getting 20% of a grape, you know, so it's actually the inverse. The biggest clinics have not only the highest revenue, but also highest profit margin. The smallest clinics not only had the lowest revenue, but also the lowest profit margin. And really the biggest factor that we've determined in the report from that is the fixed costs.

[00:27:54] Overhead and practice costs add up to about 30% of top line revenue for the smaller clinics, whereas they only add up to about 15% of top line revenue for the larger clinics. Because, you know, your utility bills, your internet, your, you know, most of your expenses that are fixed, they don't change whether you're generating 50K or 250K. I pay the exact same amount in internet that I did when I first started that I do now generating $600,000 a month.

[00:28:24] Yeah, it's really interesting. The terms that we use in the remarkable practice is the difference between effectiveness and efficiency. So effectiveness drives revenue, whereas efficiency drives profit, right? And understanding this is like, it might be counterintuitive, but the practices that are probably more effective, they're probably more conscious of being more efficient as well, because it's the efficiency that drives the throughput, right? So throughput drives output.

[00:28:50] Throughput is services, volume, and, you know, people that you're caring for, right? And throughput drives output, which is the economic engine, you know? So it's the output is what drives the revenue and the profit specifically for the owners and for the team. I think it's fascinating, man. It's a fantastic study. You're going to give us a link here, right? So that people can get their hands on the Lucro report. We'll put that in the show notes down below. Otherwise, how else can people learn more about Lucro and what you guys are doing?

[00:29:16] I love the fact that you are helping more people help more people. That's what our success partner relationship is all about. And I know that when people have their data and they're informed, they make data-driven decisions. They can be informed leaders. People really make better decisions when they have the data. When you have a high data environment, you have a low drama environment. When you have low data, you have high drama, you know? And at the end of the day, you shouldn't have emotions when it comes to your business.

[00:29:45] Save all your emotions for your practice, right? Save all your emotions for your mission, for your purpose, for your new patient consultation, for your report of findings, for your better results faster. Put all your emotions there. You don't want to have any emotions in your business office. Yeah, I love that. Yeah, so if you want more information, we actually have a new offer. Go to morelucro.ai and you can actually directly connect your bank accounts, credit cards, your information, and you're going to get automatic insights into all of your data.

[00:30:15] So really cool upgrade on our software. You can just directly connect securely through Plaid, your bank account information. We can give you automated financial feedback and insights on your data. The other big thing that I want to mention too, in addition to the industry report, we're also launching and almost completed a compensation guide and a pricing guide. So we know across all these clinics what they're paying every single one of their team members, what they're charging for every single one of their services.

[00:30:43] And so inside that software, you can actually already see it. Once you create an account, you can look at every single individual position in a chiropractic clinic, an associate doctor, a front desk, a back office, a CA, all the positions we have for every single state in the country. What's the average that they're paying a CA? What's the average they're paying an associate doctor? What's the high end? What's the low end? What's their bonus structures? We have that for every position in the chiropractic clinic.

[00:31:10] And then also pricing, you know, what's everybody charging in Alaska for an adjustment versus in Tennessee versus in Florida? What's everyone charging for decompression, for shockwave, for all, for exams, for x-rays. We have an entire guide, pricing and compensation so that you can see exactly how you compare to other people in your state and the whole country as a whole. Awesome, brother. Keep up the great work. We appreciate you help so many of our remarkable practice docs and many of our listeners here in the Rockwell CEO podcast. This is Dr. Josiah Fitzsimmons from Lucro Bookkeeping.

[00:31:40] Check these guys out. I think they're fantastic. Thanks, buddy. Yeah, thanks for having me. 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.

[00:32:10] Now go and be remarkable.

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