Personal Injury: Your pathway to success
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Hi, I’m Dr. Mark student. Welcome to the academy of chiropractic doctors, PI program consultations. I am very excited that you took the time to do this and make the commitment to your career, to your family, to yourself, just to be the best of the best of your clinical excellence. Sit back and enjoy the consultations.
Hi, I’m Dr. Student and welcome to our podcast on get wealthy by being a chiropractor. Now that really is a little misleading, but factual at the same time, it’s really get wealthy by being the best of the best through clinical excellence. By being the best chiropractor you could be and having credentials with will be, and is the pathway for you to get wealthy. But here’s the caveat. The caveat is you have to understand trends. And one of the things that I have been doing over the past 40 years in the industry is studying trends of our industry. And there was a book in the eighties by John NSBE called megatrends, and it was about prognosticating, the future of business by looking at market indicators, as we call those in today’s world. And he was accurate and factual on every single one. So if we look at the market indicators and we look at the history and the future trends, the answer is simple personal injury.
That’s where you get wealthy in chiropractic. Now, how do I know that? Well, over the past decade, every other year, 2011, 13, 15, 17, 19 N 21. So I’ve now done it six times. I look at PI reimbursements state by state, by state. And over the last 10 years, it’s gone up 120% reimbursements across the country. That’s where the trends are and they’re, and, and they’re holding. And they’re steady. I can report factually that I cannot think of maybe more than one state that had one little downturn and then a sharp upturn in, in all those years. So when we look at where you get wealthy by being a chiropractor, it’s personal injury. And by the way, if you reach out to my staff we’ll get you a copy of that 10 year reimbursement statistic for your state, but you now have to start bypassing low paying managed care, because that’s just a race to the bottom folks.
Stop, stop scrounging for the pennies. They’re they’re, they’re, they’re preying on your fear of going bankrupt while they’re forcing you to lose money because they’re taking money outta the system, instead of giving it to you. But when you look at personal injury, it’s not business as usual, it’s getting much more difficult out there and you need to expand your referral base. So people used to think, oh, personal injuries. I have to go to lawyers for PI cases. No, you need to expand your referral base to medical primaries, medical specialists, urgent cares, emergency rooms and lawyers. And that’s what being a primary spine care provider means. Spine care provider simply means you are the first referral option in all of those referral sources. I’m gonna say it again. Primary care medical specialists, urgent cares, emergency rooms and lawyers. So what my job is is to teach you how to get those referral sources to run after you, based on your clinical.
And you’re gonna need a strategic business plan to do that. And it’s gonna take a little bit of learning, a little bit of education, a little bit of credentials, a little bit of positioning, but I can tell you that my average doctor who I work with gets 15 new cases per month, almost all PI they don’t have they don’t market. My average doctors take home. Pay goes up 61% per month after taxes. And that’s on an average on an annual basis, actually. And they’re making a lot more money. They’re getting wealthy by being a chiropractor. It’s more than just getting, buy and earning a living. It’s not a hard thing to, to do. So when you look at the chiro, the chiropractor next door to you, how do you make that chiropractor irrelevant to your referral sources? For me, it’s easy. I mean, I understand how to do it.
How do you make ’em irrelevant. Just have better credentials, be smarter. Talk. The Lang of the surgeons understand the needs of the attorneys become the solution to their business. Once you do those things, folks, it’s game over. So you’ve gotta first build an infrastructure that works and I’ll help you do that. Then what you need to do is you need to get credentialed. Then you need to become the solution for the case. And by doing that, you gain the confidence of the referral source. Then you become the solution to their practice, but actually their business. Because now it’s getting beyond that individual case. Then once you do that, they become your you’re gonna be, you’re gonna be training them because you’re gonna know more than them about what they do. Even if it’s a surgeon, not about how to cut, but about a lot of other things that in business terms, we’re gonna vertically integrate your knowledge to a whole bunch of different things that touches spine and what we do.
And you’re gonna start educating them on some of the things that you’re gonna learn. The then once that occurs, they’re going to be your advocate in their genre of business. They’re gonna bring you in to their firms, to their practices, to their urgent care centers. They’re gonna bring you to their organizations, cuz they want to share you because you have a solution that they’re looking for. You see folks it’s really not hard. It’s not complicated. There’s a couple of steps. We’ve made it easy. And most importantly, for me as a practicing chiropractor, one of the things that we’ve done just to share with you is we’ve majored documentation easy because your documentation is your calling card. It will make you or break you. And documentation is about two things, compliance and referrals. If a documentation is, is upside down from a compliance perspective, it can cause you your money, your license, or your freedom.
If it’s that bad from a reputation perspective, your documentation will either get you or cost you referrals. That’s what your documentation does for you. So we’re gonna really touch on a whole bunch of things, but more importantly, if you want to get wealthy by being a chiropractor folks, you gotta get into the personal injury genre of business and practice. Those people need care just like everyone else. And I’d love to chat with you about it. You want those 10 year PI statistics. Well, just ask. It’s my pleasure. Listen, I look forward to sharing you a little bit more every week. Thank you and have a great day.
I hope you enjoyed the podcast you just heard. And it’s been my pleasure to bring this to you. Please understand that this is a very small piece of the puzzle and it is my goal to bring you many, many pieces of the puzzle so that the picture can become clearer. Your practice can thrive. Chiropractic can thrive and I at least can be a small part of that. I, and it’s my pleasure. So again, if you want to chat, gimme a gen six to 3 1 7 8 6 4 2 5 3 that’s 6 3 1 7 8 6 4 2 5 3. Or go to our website and teach T E a C H chiros, C H I R os.com. Thank you so much. I look forward to seeing you or chatting with you on our next podcast. Have a great day. All.