So You're Finally a Chiropractor...Now What? (Advice for New Chiropractors)
Rocket Chiropractic Podcst episode 384
Business & marketing training for chiropractors: https://rocketchiro.com/join
Free practice assessment: https://rocketchiro.com/chiropractic-practice-assessment
Chiropractic podcast: https://rocketchiro.com/chiropractic-podcast
Best chiropractic websites: https://rocketchiro.com/best-chiropractic-websites
Chiropractic SEO: https://rocketchiro.com/chiropractic-seo
Embarking on a chiropractic career post-graduation presents a myriad of choices. The trajectory of a chiropractor's profession can be influenced immensely by the initial decisions made. In this week's chiropractic podcast, I discuss several options available to new chiropractors, detailing their pros and cons to aid in making an informed decision.
1. Associate Position
New chiropractors can opt to work under a seasoned chiropractor in an established practice.
Pros:
Learning Opportunity: Associates can amass invaluable practical knowledge from experienced chiropractors.
Stable Income: A steady salary provides financial security right out of school.
Reduced Responsibilities: Associates don’t often handle overhead costs, staff, or marketing, enabling a focus on patient care.
Cons:
Limited Autonomy: Less freedom in clinical decision-making and operational procedures.
Income Ceiling: Earning potential might be capped compared to owning a clinic.
2. Starting a Solo Practice
Taking the entrepreneurial route, chiropractors can set up their own clinic.
Pros:
Full Control: Solo practitioners have total discretion over their schedule, treatment methods, and business strategy.
Growth Potential: Earnings directly correspond to the clinic’s success, which can surpass associate positions.
Cons:
Initial Costs: Setting up a clinic requires a significant financial outlay for equipment, space, etc.
Business Burden: Handling every facet of a business can be daunting.
3. Buying an Existing Practice
Acquiring a well-established clinic.
Pros:
Ready Revenue: A built-in clientele ensures immediate income.
Inherited Reputation: Benefiting from established goodwill eases transitions.
Cons:
Initial Investment: Purchasing an existing practice can be financially hefty.
Inherited Issues: Potential pre-existing challenges with equipment, staff, or patients.
4. Starting a Micro Practice
A streamlined, usually one-room setup, focusing predominantly on chiropractic care.
Pros:
Minimal Overhead: Reduced setup costs mean faster profitability.
Simplified Management: No staff leads to fewer operational concerns.
Cons:
Limited Expansion: Growing or adding services might necessitate changing the model.
Solo Tasks: Handling everything from treatment to bookings can be demanding.
5. Partnerships
Joining forces with one or more chiropractors.
Pros:
Shared Load: Divided tasks and finances ease individual pressures.
Team Environment: Collaborating brings diverse skills and treatments, enriching patient care.
Distributed Risks: Setbacks are shared, reducing individual impacts.
Cons:
Conflict Possibility: Differing visions can lead to disagreements.
Shared Profits: Earnings are divided, which could limit individual income.
6. Independent Contracting
Working within an existing practice but operating as a self-employed entity.
Pros:
Flexibility: Set your hours and choose your clientele.
Lower Financial Risk: Lesser upfront costs than starting or buying a practice, as you leverage existing infrastructure.
Autonomy in Treatment: More freedom in patient care compared to an associate position.
Cons:
Inconsistent Income: Income can be variable based on the number of patients and the agreement with the practice owner.
Contractual Obligations: There might be non-compete clauses or other restrictions in contracts.
Potential Overhead Sharing: Some costs, like rental space or utilities, might be shared, depending on the agreement.
Conclusion:
Every chiropractic path has its unique rewards and challenges. New chiropractors should align their aspirations, financial readiness, and preferred work-life integration with the choices discussed above. Regardless of the chosen path, continuous growth through learning and a commitment to excellence will be key cornerstones of a successful chiropractic career.
-
0:28
Business & Marketing For Chiropractors
2 years agoYou Can't Avoid The Difficult Things And Be A Successful Chiropractor
94 -
34:04
Business & Marketing For Chiropractors
6 months ago14 Common Mistakes That Chiropractors Make When Starting Their Practice
138 -
2:12
southbaychiro
1 year agoRigo's 1st Chiropractic Adjustment!
23 -
0:48
Dr. Ace the Chiropractor
3 months agoHasn't Slept in 5 Years treated by Chiropractor
137 -
47:04
Autumn940
4 months agoTiny Spines, Mighty Health: Pediatric Chiropractic Insights
24 -
14:19
Dr. Ace the Chiropractor
3 months agoHasn't Slept for 5 Years after Concussion treated by Chiropractor
86 -
17:15
I Am Pain Free Channel
4 months agoThe Hidden Key to Holistic Health: Discover Upper Cervical Chiropractic
61 -
8:00
MyFavoriteDoctor
1 year ago $0.01 earnedYOU DON'T WANT TO MISS THIS CHIROPRACTIC SESSION
119 -
10:26
Todeskreuz1
1 year agoPinched Nerve, EXPLODING Cracks & Crazy Toe Pops - ASMR Chiropractic
50 -
50:54
FamiliesFirst
10 months agoPhysicians deal with the physical and chiropractors deal with the physical and the spiritual
17