167: Maximizing Profitability in your Chiropractic Practice
Mar 31, 2024
Welcome to the KC CHIROpulse Podcast.
This week’s topic: Maximizing Profitability in Your Chiropractic Practice
The KC CHIROpulse Podcast is designed for Chiropractic professionals ready to elevate their practice to new heights, and is hosted by Kats Consultants CEO Dr Michael Perusich and Heather Simmons-Ellis from ChiroHealth USA. Because both speakers are experts in Chiropractic business development, this podcast will provide invaluable insights and actionable strategies to help you create a flourishing and sustainable Chiropractic business.
In this episode, we discuss:
- How to a profitable fee schedule
- Making your practice more compliant with fees inline with the rules
- How to create simple fee plans that help retain your patients
- Why taking control of your fees will make your practice more
- …and so much more…
In each episode of KC CHIROpulse, we delve into crucial aspects of building a successful Chiropractic practice, covering topics such as establishing a strong foundation, adopting a patient-centric approach, mastering marketing techniques, achieving financial fitness, fostering effective team building and leadership, integrating technology and innovation, and navigating common challenges in the field.
Whether you're a seasoned chiropractor or just starting your practice, the KC CHIROpulse Podcast offers a wealth of knowledge and practical advice to help you navigate the intricate world of Chiropractic business. Join us on this journey as we explore proven strategies, share success stories, and connect with industry experts to empower you in your pursuit of building a thriving Chiropractic practice.
Don't miss out on the latest insights and expert guidance. Subscribe now and unlock the secrets to taking your Chiropractic practice to the next level. Your success is our priority at Kats Chiropractic Business Advisors.
DISCLAIMER: The information presented in this broadcast is for educational purposes only and is not intended to offer legal, investment, accounting, or medical advice. Seek the consultation of a professional for advice in those areas. And remember…your results using this information may be different than described.
Be sure to SUBSCRIBE to the Kats Consultants CHIROPulse Podcast
When you are ready we can help.
- Free Resource: Download 7 Signs Your Practice may be in trouble
- Let's Chat -30-minute chat about your practice
- Attend a Virtual Seminar
- Join the new subscription program Path to Prosper
KC CHIROpulse Podcast. Helping Chiropractors keep their pulse on success. Thanks for listening.
167 Maximizing Your Chiropractic Practice - Transcript
Attendees
Dr Michael Perusich, Heather Simmons-Ellis
DISCLAIMER: The information presented in this broadcast is for educational purposes only and is not intended to offer legal, investment, accounting, or medical advice. Seek the consultation of a professional for advice in those areas. And remember…your results using this information may be different than described.
Dr Michael Perusich: Hey chiropractors, are you maximizing your chiropractic practice? Hi everybody. Welcome to the KC chiropulse podcast brought to you by ChiroHealth USA and Kats Consultants. I'm your host Dr. Michael Perusich, and I'm here today with my special guest Heather Simmons Ellis from CHUSA aka ChiroHealth USA. I'm so excited. You're on here today.
Heather Simmons-Ellis: Hey I am too. Thanks for having me.
Dr Michael Perusich: Absolutely. So we talk about how to develop the right fee schedules and do the right things in practice and how to maximize profitability. So I'm super excited that you're here because we talk about developing those correct legal fee schedules all the time. And of course Chiro Health USA. Your name always comes up. Because we love what y'all are doing. So I'm super glad you're here. So why don't you just kind of give a 50,000 foot overview of what chooses all about and we'll just dive in here.
Heather Simmons-Ellis: So the best way for me to explain what she say is all about is and I am very passionate about what we're doing today. I love to help others just maximize what they can do within their practice but Chiro Health USA is about profitable discount strategy. That's it.
Dr Michael Perusich: Okay, I want you to say that again because that is so important. Alright, alright everybody seriously,…
Heather Simmons-Ellis: Yeah. ChiroHealth USA is one of the simplest things any practice could do…
Dr Michael Perusich: listen up to this really close.
Heather Simmons-Ellis: but it is truly about profitable discount strategy.
Dr Michael Perusich: so I'm gonna stop you right there for just a second so we can have a discounted fee plan in our practice, but we can still have profitability.
Heather Simmons-Ellis: I love that because discounts don't equal broke. They don't yes.
Dr Michael Perusich: Thank Yeah, so I hear Dr. Cell all the time. I don't want to Discount my fees. It's because you're thinking about it all wrong.
Heather Simmons-Ellis: But that's the part that tickles me the most and seriously, this is one of my favorite topics and I'll say are you a network with insurance? Yeah, goober you're already taking a discount. yeah,…
Dr Michael Perusich: If huge one and it goes down that discount increases every year.
Heather Simmons-Ellis: it's a hot mess and I hope we kind of talk about some of those strategies today for practices.
Dr Michael Perusich: Absolutely, I'd love to Bring choosa into a practice. So This is my perspective and I'll let you just run with this but my perspective is only does it show you up from a compliance standpoint. So you're not doing all these weird crazy discounts that you really shouldn't be doing. You truly have a legal discount program. And I'm gonna tell you a couple stories as we go today, but you create a legal discount program. So you're covered compliantly there. And then you've got this ability then to show patients that hey, your insurance is great, but it doesn't cover everything. And we all know that and…
Heather Simmons-Ellis: right
Dr Michael Perusich: the patient knows that and so here we've got the secondary plan that in my opinion. Really helps set you in a unique position typically in the marketplace because it gives you a very healthy competitive advantage.
Heather Simmons-Ellis: Yeah, and it's discounts but it's compliance and it's a strategy and it's profit and patient retention. there's so much more that go into doing it.
Dr Michael Perusich: Okay.
Heather Simmons-Ellis: It's a profitable discount strategy.
Dr Michael Perusich: Very much. and when you employ it correctly when you build it into your practice correctly, when you develop not only the understanding of how it works and I want you to talk about that. But once you have the understanding of how it works down and you develop the communication strategy along with it, and this is a lot…
Heather Simmons-Ellis: I mean, yes.
Dr Michael Perusich: what we spend time. And I know you do too with our clients really working with them on how to make this work, but the level of patient experience and satisfaction absolutely goes through the roof and here's what it does. So in our Mastermind program right now, we're studying this whole idea of building loyalty. and through authenticity
Heather Simmons-Ellis:
Dr Michael Perusich: And this just speaks to that because he's right on one of those ways that you really build loyal patients and it's through patient satisfaction and great patient experience. When you tell a patient that you've got their back covered on their expenses and you're not trying to get their pocket and do weird crazy things. They love you for it and your school thing. They go out and then they go tell a hundred other people about it and…
Heather Simmons-Ellis: Yep.
Dr Michael Perusich: all these referrals coming in. talk a little bit more about that and maybe what I don't want to get the card ahead of the horse here, but maybe a little bit about what some of the fears are that we see doctors having of implementing a program like this.
00:05:00
Heather Simmons-Ellis: So a lot of times I see a chiropractic use their DC for Doctor of creativity.
Dr Michael Perusich: I love that. That's great.
Heather Simmons-Ellis: There are rules in their regulations and I really don't want to go down the rabbit hole of rules and regulations because that's I think a whole other topic that we could spend a lot of time on I been doing this for almost 13 years,…
Dr Michael Perusich: Yeah.
Heather Simmons-Ellis: I love what I do because I get to make a difference through a discount Network, right there's a lot that comes to it but at CHUSA ChiroHealth you'll say we've worked with over 7,000 doctors and one of the things that I've seen throughout that process is that this profession loves to give Because we have a servant's heart. But a lot of times we offer too many discounts thinking that they're helping the patients. But in reality, you're actually hurting the business something that you've worked so hard to create again.
Dr Michael Perusich: Yep.
Heather Simmons-Ellis: It does start with a profitable discount strategy. It's important because if you're practices healthy and it's one less thing you have to worry about and you can go take care of your patients in the right way. It gives you the competitive Advantage. So setting your fees is super important that allows for the profitability. It's because you're a DC. There's nothing in the books when you graduated and you obtain that license. It said that you could not be profitable. And still help patients. So I think that that's important.
Dr Michael Perusich: amen
Heather Simmons-Ellis: It helps you with professional development investing in your own development at your seminars your certifications. It's a win for both the doctor and a patient satisfaction kind of as you spoke about that both before second was if you can look at setting your fees, right and having a successful practice that allows you to focus on providing an exceptional patient experience. You're not constrained by your financial concerns.
Dr Michael Perusich: Absolutely.
Heather Simmons-Ellis: This is all going to lead to better patient satisfaction positive reviews positive better patient retention expand your horizon. I know practices all the time get stuck with I I can't get past where I'm at. All of it starts with what I would call a healthy Foundation. There's a lot of tools that we have in our belt here at ChiroHealth USA about setting your fees. We never tell you how to set your fees as far as what to set but it is just knowing the resources gaining the information and kind of growing from there with benefiting again the chiropractor the team and the patients. all starts with profitable strategies include discounts and that if you will
Dr Michael Perusich: One of the things I love about what you guys do is you really drill down on helping doctors build that good Global fee strategy. And then I know for our clients we come in then behind and help them refine that strategy so that they have real profitability in their practice whether it's on a cash service that goes through ChiroHealth USA or it's on their insurance services and…
Heather Simmons-Ellis: Yeah.
Dr Michael Perusich: here and I know you'll key in on this here's something we see a lot in this profession. We see random fee strategies. We see doctors go. my gosh the clinic down the streets doing a $29 deal we need to do 27 and it's this big race to the bottom sometimes and when we compete on price we need to be able to set a good fee strategy and everybody's fees should be different because everybody's profitability level needs to be different and CHUSA for me is one of those foundational components. We use this big time in our practice.
Dr Michael Perusich: is one of those foundational components that allows you to Set your fees in a profitable way still offering a discount to patients. So patients feel good about what they're doing, but it's then set it and forget it for the doctor. And that way you can then focus on patient care knowing that you're not playing Let's Make a Deal all the time. You're front desk people know exactly…
Heather Simmons-Ellis: You right.
Dr Michael Perusich: what to charge and what goes to Insurance what comes directly from the patient understands it. And you couple it with some of the new rules that we have today no surprises after we have to show the good faith estimate. my gosh mind-blowing.
Heather Simmons-Ellis: look
Dr Michael Perusich: It's the perfect scenario to have the right structured fee strategy.
Dr Michael Perusich: Use your term the right structured fee strategy. So you actually go home at the end of the day with profit in your pocket. And that's what we're all here for. Yes. We have the servants heart to help patients, but we're also here to drive profits, too.
Heather Simmons-Ellis: We tend to overcomplicate the process. we have team members.
00:10:00
Dr Michael Perusich: We do.
Heather Simmons-Ellis: I don't think and I spent a lot of time what at seminars with docs and with the team members and one thing let me draw this home for a second to one one little word can change a lot for your practice, especially when it comes to what I call behind the desk. So it's really easy for us to call them staff by the way because that's kind of the generic term but I always say staff is an infection.
Heather Simmons-Ellis: They're your team because they're on the same playing field as you hoping to get to the same outcomes or push you over the line. So it's a win so I always challenge practices when they say staff. I'm like, no it's team because that develops a whole other mentality for your team to support you and…
Dr Michael Perusich: Yeah use that term, too.
Heather Simmons-Ellis: and your goals because if they feel a part of something a lot of times doctors miss that point their team is doing a lot of heavy lifting and you could be the CEO the chief everything officer not have any team members you are doing all the heavy lifting you're the cheap book bottle washer,…
Dr Michael Perusich: Sure.
Heather Simmons-Ellis: but if you implore a team wow, do we really need to understand what all falls on their plate and are we making their day more complicated by putting our foot in the financial conversations?
Dr Michael Perusich: exactly doctors need to stay out of that as much as they can honestly.
Heather Simmons-Ellis: I tell them that I'm like Why are you having this guy? You're the good guy. You're the good guy.
Dr Michael Perusich: Right, right. We're supposed to stay that way, and you bring up a great point when we sometimes create these crazy fee strategies that are all over the place. We don't really think about how that affects the entire team. we're so focused on trying to make the patient happy when we do that, but we need to make sure that it's also effective and honestly simple as simple as can be for our team to be able to affect because there I call them the prophet makers because that's…
Heather Simmons-Ellis: You yeah.
Dr Michael Perusich: what they do. We as the doctors deliver the service but if your team is at the front counter collecting they're the profit makers.
Heather Simmons-Ellis: right
Heather Simmons-Ellis: making it rain.
Dr Michael Perusich: Yeah, and so they're the ones that have to have the financial conversation with the patient. They have to help the patient understand the value that they're paying for and help them understand that the fees they're paying for your services makes sense.
Heather Simmons-Ellis: Yes. Yep.
Dr Michael Perusich: And this you guys out there. This is where ChiroHealth USA comes in such a strong way to really help with this and it's a whole bunch of things. It's the way they've set the program up the way they help you guide you through it the way they help you develop your communication for the patient and…
Heather Simmons-Ellis: Yeah.
Dr Michael Perusich: just getting you that deep understanding. Everybody gets to that point with you guys, which I love because I get the calls all the time. Okay, you told me to call chiro Health USA. I get it now. And the light bulb goes off and then boom they're off and running with it and they're like, my gosh, this is the greatest thing since individually wrapped in sliced cheese.
Heather Simmons-Ellis: we've been around for 16 years.
Dr Michael Perusich: You can tell Dr. Foxworth I said that.
Heather Simmons-Ellis: So it's not 30 40 years for ChiroHealth USA. There's a specific model that we operate under and I think it's important that I kind of hit this home too because it's a DMPO model. So anyone can Google…
Dr Michael Perusich: Yep.
Heather Simmons-Ellis: what a DMPO has. It's a discount medical plan organization, and we operate under that but I looked back. During covid, but I can say that word. And I scaled back and said there's got to be more to what it is. We do then take a practice who's raised their hand and said, hey, I don't think I'm being very compliant. I've got this cash fee. Can you help me out with that in traditionally, it would be all right. Let's look at that and let's just incorporate some pieces and move forward. During that time. I literally took a step back working with a few practices and thought there's more to this and I began looking at just how the practice can grow like what are some of the biggest hiccups that they run into the concerns the roadblocks. And that don't know their numbers. They don't know their numbers.
Dr Michael Perusich: You're talking my world now. Okay, I would.
Heather Simmons-Ellis: Work together I told you about this. Yeah.
Dr Michael Perusich: Yeah, totally. I went to hold that thought for just saying because I'm getting the red flag. We got to take a message from our sponsors real quick.
Dr Michael Perusich: So everybody we're talking about Carroll Health USA and how you can bring a discount medical fee plan into your practice and create that legal fee structure on the cash side of your practice. So this is mind blowing so stay tuned. We'll be right back.
Heather Simmons-Ellis: Yeah.
SPONSOR MESSAGE
Dr Michael Perusich: All right, everybody. We are back. Thanks for tuning into the KC ChiroPulse Podcast today. We're talking with Heather Simmons Ellis from ChiroHealth USA drumroll, please and we're talking about How to set these fee structures and you started in on this road of numbers and I'm a numbers guy. So let's talk about the fact that practices don't understand their number so often times
00:15:00
Heather Simmons-Ellis: I would say you'd be amazed but I think you totally get what I'm about to say and…
Dr Michael Perusich:
Heather Simmons-Ellis: we work with all practice types, right? We are nationwide and I'm not specific to one region. So when I say I've seen it from Florida all the way to New York to California to Texas, I have seen I have seen the numbers and there's a lot of data back this up to when I talk with practices. I'll say just simply Time you reviewed or updated your actual fees. it's been So I know enough to make me dangerous to look at some of these numbers and go that's definitely not what are you doing? And let me give you an example this very sweet chiropractor out of Illinois. I looked at her fees and I thought How long have you been in practice? She said 24 years.
Heather Simmons-Ellis: Said what's the last time you updated your numbers? She said hi and touch that and since opened my doors 24 years ago.
Dr Michael Perusich: Yeah, yeah.
Heather Simmons-Ellis: I said, what's sad if Medicare was going to reimburse us as a profession for everything. You're below what Medicare would reimburse it's crazy.
Dr Michael Perusich: Why?
Heather Simmons-Ellis: Typical practice seven to ten years. You should be looking at your fee structure twice a year minimum once a year.
Dr Michael Perusich: at least
Heather Simmons-Ellis: So they're so afraid to make the change because they're afraid that they'll lose all of their patients when in reality.
Dr Michael Perusich: yep.
Heather Simmons-Ellis: If you make the small changes over time your patients understand and appreciate the value of care that you're Look at your actual fees. The other thing too, Dr. Michael is that they don't know how to update their actual fees the resources the things that are available. This is definitely where I do get on my soapbox and you can tell me to jump down in any point,…
Dr Michael Perusich: I may jump up there with you.
Heather Simmons-Ellis: and then we complain Oftentimes about insurance reimbursement is just very poor. I know it…
Dr Michael Perusich: and getting poorer
Heather Simmons-Ellis: It's getting worse but one of the reasons why it's because they use our data against us. They use that against us.
Dr Michael Perusich: Yep.
Heather Simmons-Ellis: So when you're saying Insurance reimburses me twelve dollars. So I only Bill twelve dollars. now they're going to reimburse you eight dollars. Why because you didn't value your services to begin with and…
Dr Michael Perusich: Yep.
Heather Simmons-Ellis: now they have the data to support. It's not worth.
Dr Michael Perusich: And that's what I call the race to the bottom. Yep, we're all looking in the wrong direction.
Heather Simmons-Ellis: it just
Dr Michael Perusich: We see this all the time too. I can absolutely support what you're saying. We see. Clients who and this is one of the first things I ask somebody when they become a client of ours is one's last time you reached your fees. And I hear this all the time. I'm proud to say it's been 15 years. how is that a thing? how's that a pride thing? And then we show them their profitability margins. Because we do these deep dives into deep statistics and…
Heather Simmons-Ellis: how
Dr Michael Perusich: they're like, my gosh, I had no idea. I was losing five dollars on every patient visit. Yeah, you didn't realize it because you're living out of things like AR and enough new page, when you have 80 or 90 new patients coming in the door. Sometimes you miss some of these things
Heather Simmons-Ellis: right
Dr Michael Perusich: And okay, we got to get your fees under control and then we look at fees you said at least once a year sometimes twice a year sometimes four times a…
Heather Simmons-Ellis: Yep. Good.
Dr Michael Perusich: because sometimes their fees were so low that we've got to kind of Ratchet them Fairly quickly to get them profitable again.
Heather Simmons-Ellis: Yep.
Dr Michael Perusich: And then when we come in behind with a plane like chirohealth USA and help them build that side of the fee strategy as well. Then they're short up for when maintenance isn't covered. For example, when decompressions not covered when muscle stems not care. Now your patients got back up coverage. And for those of you just listening not watching I'm using Eric quotes here.
Dr Michael Perusich: And so it becomes this real win scenario and all sudden. The patients are just loving you for this. and to Here's the best part. So I hear a lot of doctors say I don't know. what a patient's gonna think about Chiro Health USA. I laugh okay, so I'm I'm gonna tell you a story to illustrate this not too long ago. I called my eye doctor's office and shamefully hadn't been there in a while. And they said now Dr. Michael what kind of insurance do you have? And I said, I have Blue Cross and they said you're so lucky that covers nothing in our office. and I'm like, okay I kind of know where this was going, but she immediately said but
00:20:00
Heather Simmons-Ellis: Yeah.
Dr Michael Perusich: We are a provider on a discount Optical program. That's going to save you a ton of money. I'm going to send you a QR code if you sign up for it. Now when you come in, you'll already be saving. Here's what you're to say. If you're gonna say more than what the plan costs. And okay, this is the Panacea of perfection. Because when you tell me my insurance doesn't cover but you have a backup plan for me. I'm loving you.
Heather Simmons-Ellis: Yep.
Dr Michael Perusich: And I've told everybody in the world the story. so I'm sure I referred a lot of people to the high doctor but This is what your patients are think they're gonna think. my gosh. This is fantastic. So don't be afraid of this.
Heather Simmons-Ellis: Absolutely.
Dr Michael Perusich: Look at this is One of the biggest wins. I think we have in our profession right now.
Heather Simmons-Ellis: We also pick up on a lot of marketing. Right, we're gonna lower our feet to 29 or $49 for a new patient visit. I always say these marketing companies are not compliance. They don't know the rules and regulations their goal is to get feet through your door where that is fair. But when is the last time you went online and saw your primary care physician advertising your dentist for that matter if it's not one of those big franchises that definitely try to go down that path an OBGYN a neurologist.
Dr Michael Perusich: right right Yeah.
Heather Simmons-Ellis: How would you feel if you got on social media and you're scrolling through and You see a neurologist discounting their first visit. To 49 dollars who said we had to do that as a chiropractic profession.
Dr Michael Perusich: We'll deliver your baby for $49. I'd run.
Heather Simmons-Ellis: right Why is it?
Heather Simmons-Ellis: Exactly. Why do we have to do that as a profession? So as I talk about a profitable discount strategy, it is not to Discount yourself out of the market because a lot of times that's…
Dr Michael Perusich: No.
Heather Simmons-Ellis: what you see happening as I respect so many of those marketing companies invest as coaching groups things out there. You really need to look at your foundation. What is the cost of doing business? Because you don't want to sign contracts with insurance companies just to be in network understand the demographic of your patient location for us.
Dr Michael Perusich: Thank you.
Dr Michael Perusich: right
Heather Simmons-Ellis: And if anyone's ever curious come visit us and Flowood, Mississippi, if you want to see what the Blue Cross Blue Shield campus looks like because they don't hesitate to get out there and play soccer or tennis. So if in Mississippi for one different, we're some of that money's go and it's beautiful but our practice when Dr. Foxworth had it which is a couple of blocks In our office at Chiro Health USA was almost across from it so we can see all of this day and…
Dr Michael Perusich: Right. I love it.
Heather Simmons-Ellis: day out but when we kind of stripped back over frustrated with insurance and all of this kind of comes into play, what we would need to do was an analysis and there's some pretty incredible reports that these EHR systems will produce for you if you know how to get to them and…
Dr Michael Perusich: Yep.
Heather Simmons-Ellis: run those reports. So you've got that within almost every It's Gonna Give You statistics, but that's ultimately what we did which we kind of ran those numbers. who was our worst reimbursement when it comes to that it was for us it was Blue Cross and we're thinking holy smokes. What do we do? We're gonna have to drop Blue Cross, but they're literally across the street. But here's what we found is they were our best patient retention. So it is understanding your numbers not just your cash fee all of this, but truly understanding your insurance contracts just it's called playing in the game. But no one says value yourself over here as if you are offering a pedicure.
Dr Michael Perusich: exactly
Heather Simmons-Ellis: Because I will tell you right now I don't mind dropping $100 for my nail appointment.
Dr Michael Perusich: No, of course not how much do we drop for a cup of coffee in anymore?
Heather Simmons-Ellis: My gosh, I even used that analogy. People practices will come to me but Chiro healthier says forty nine dollars a year for the patient. I was like, It's $49 a year for the patient and their family and if I reduce to ridiculous just a little bit. It's less than a cup of Starbucks coffee a day. Right. I just had a Starbucks coffee right here.
Dr Michael Perusich: Yeah. …
Heather Simmons-Ellis: So less than that for one month.
Dr Michael Perusich: yeah, I've totally lost.
Heather Simmons-Ellis: I could go drink all the Starbucks. I want and still pay more for Starbucks than I would for Affordable Chiropractic here.
Dr Michael Perusich: Exactly and when you set the fee structures correctly, you can show how Chiro Health USA plan is going to save the patient more than that 49 dollars. Then that's the point don't get stuck on the membership fee and…
Heather Simmons-Ellis: Don't don't.
Dr Michael Perusich: I could go all day long on the membership fee. I mean that's part of what creates retention. But don't get stuck on that part get stuck on…
Heather Simmons-Ellis: right
00:25:00
Dr Michael Perusich: how it's helping patients and helping the patient stay in care and doctors out there. Isn't that our whole goal is to get patients used to the Chiropractic lifestyle make it part of their lifestyle and Hero Health USA really opens the door to that. Hugely. Is that a word? It is today.
Heather Simmons-Ellis: It is today. Yeah.
Dr Michael Perusich: So, my story is kind of like Dr. Foxworth and his practice, many years ago. We were looking at insurance reimbursement go down the tubes and Blue Cross eliminated, they didn't eliminate but they moved 9701 to Patient responsibility.
Dr Michael Perusich: And we thought my gosh, the world's gone to you…
Heather Simmons-Ellis: It's ending it's done.
Dr Michael Perusich: it's ending how are we gonna manage this? And so we just sought the sat down and thought rationally, okay, why can't patients pay for this and we were already a chiro Health client. I don't think at that time. We're really using it as much as we should but we came to the realization that hey wait a…
Heather Simmons-Ellis: Uh-huh.
Dr Michael Perusich: if our patients are on ChiroHealth USA, they can save five dollars. I think it was on muscle stem, so they're saving money will show them that hey your insurance company doesn't cover this anymore. but look this plan does. And everybody was happy and we're like, holy cow we can get off of insurance and I'm not saying you have to get off Insurance everybody. So don't I get emails sometimes of you're telling everybody get off insurance?
Heather Simmons-Ellis: No.
Dr Michael Perusich: No, I'm telling you that you live in an insurance and cash world today.
Heather Simmons-Ellis: yep you
Dr Michael Perusich: And that's not a bad thing. It's actually a good thing from a profitability standpoint, but we learned that. Just shifting everybody like that and then medical necessity comes along and all of a sudden. maintenance isn't covered anymore. Probably never was…
Heather Simmons-Ellis: right
Dr Michael Perusich: but maintenance isn't covered and so now patients are already set up on their chiro Health Plan and we saw patients staying in care. And retention went through the root. I mean now there retention was 96% was huge
Heather Simmons-Ellis: I wish I could get that from every Pride that it just you can't see it here. but the Goosebumps it just and…
Dr Michael Perusich: I know it was amazing. It was ChiroHealth USA.
Heather Simmons-Ellis: and So we'll to elaborate a little bit further 95% of our providers when we survey them so that they used Chiro Health USA as a way to navigate getting out of network with some insurance companies insurance is not all bad.
Dr Michael Perusich: They got us there.
Dr Michael Perusich: Sure.
Heather Simmons-Ellis: Right and all insurance is good. Just not all chiropractors are created equal, right? So it's kind of looking at all.
Dr Michael Perusich: right
Heather Simmons-Ellis: What is our path? It's creating the roadmap at what we want to do. So practices use chirophe you say all the time as an alternative with some of the insurance world. So they're definite resources that you could use to do that. So 95% of our survey providers survey that allowed them to get out of network with insurance. First patient retention how in the world is it that a discount medical plan? ChiroHealth USA is better patient retention because patients understand the value of care in your office and why they love you…
Dr Michael Perusich: Yeah.
Heather Simmons-Ellis: because they're committed to that they bring their families in and they refer more people to you. So more than 50% of ChiroHealth USA patients become Life Time patience.
Dr Michael Perusich: Yes, and that is so true and I can attest to that exact same thing. And I think there's another component in there and that component is if you're using it to get off some of the insurance plans, especially the ones that don't pay very well or
Heather Simmons-Ellis: Yeah.
Dr Michael Perusich: they send out eobs that have a lot of asterisks and things at the bottom. They're so confusing to patients. It eliminates the EOB. Which eliminates a lot of the confusion about the finances for the patient? I mean, let's face it the EOB was brilliant from the insurance company standpoint because it kept everybody confused. And so when you eliminate that all of a sudden the patient's going it's the same cost every time I go in I don't get the EOB that says this percentage to that then this deductible in a poet and this wasn't covered in I'll look the insurance company it eliminates all that. Which I think is a beautiful thing.
Heather Simmons-Ellis: right
Dr Michael Perusich: It just brings the relationship back between you and the patient.
Dr Michael Perusich: And not you and the insurance company and the insurance company in the patient. It eliminates that middle person.
Heather Simmons-Ellis: it does and the cool thing about Chiro Health USA is that practices get to set their reimbursement. So we're not a network which is what we operate under that dmpo model as a network. So we jump through all the regulatory Hoops pay taxes and sometimes in counties we kind of go above and beyond when it comes to do in the right thing for the right reason and the right way, but our practice is get to say here are my numbers. Here's what I've traditionally done for cash patients. And then once we kind of do so a little bit of homework very light stuff if it's still works for them, then we could keep it but ultimately at the end of the day the practice gets to determine what their level will reimbursement is so now you're not billing anything you're not waiting for reimbursement. It becomes the perfect self-pay model and at the end of the day it's a win for the patient who can afford the care. It's now bringing in their family and for the doctor who didn't have to wait or negotiate.
00:30:00
Heather Simmons-Ellis: payment
Dr Michael Perusich: Exactly and you just kind of pre answered one of my questions and one of my questions was we get this from doctors all the time. what does Cairo Health USA pay?
Dr Michael Perusich: What are they gonna pay me for my maintenance care? Will you set your fees? you're gonna decide what you get paid. Here's the cool thing. You're not submitting any billing either. Just direct pay from the patient. So no paperwork and what a Time Saver that is for your team.
Heather Simmons-Ellis: For sure, it reduces the stress a lot of team members sometimes are kind of hesitant to implement higher Health essay. Sometimes I'll have a doctors coming in Heather. We're excited. We're doing this. Let's get this going and then they hand it off to Becky or Susie someone and they're just like are you kidding me? Doc you are no idea what's already on my plate you want me to do one more thing and then you have to have that conversation with we'll hear the rules and regulations. There's a compliance piece if we keep going down this path you're risking a lot for you the doc and the practice and then they turn the corner right and they implement it and man do I love when I get a phone call and I'm at anivia and they're just like we love you. my gosh. I wish we had done this sooner…
Dr Michael Perusich: Yeah, sure.
Heather Simmons-Ellis: because it just takes the guess work away. It really does. Yeah.
Dr Michael Perusich: Yeah, did I see somewhere where? I don't know if it was a study you guys did how were the number came from something like 50% of patients who are on Tusa never leave the practice?
Heather Simmons-Ellis: Yeah, yeah, so that's some data that we've got behind the scenes after all of these years is that and it's 50% or greater. So it's time for us to kind of run that data again because when I do talk to practices,…
Dr Michael Perusich: Yeah.
Heather Simmons-Ellis: they're like, no Heather it is. It's Beyond 50% choose the patients are our most dedicated patients when it comes to compliant care bringing in their families and obviously again more referrals.
Dr Michael Perusich: Yeah, and that's what we see as well and think about this. Okay, you put one patient on Carroll Health USA. They have the 3.5 kids in the family, the national average whatever that is. And so the plan covers everybody in the household. so we all want referrals right? what are the best kind of referrals families because it's not just one person at a time.
Heather Simmons-Ellis: he
Dr Michael Perusich: It's three four five at a time and then they go to the little league soccer games and they're sitting on the bench and I see so and so chiropractor and my gosh, they've got this great family membership program and pretty soon. Now, you've got, three other families of five coming into your practice. I've never seen anything that can grow up practice quite the way Chiro Health USA can it's amazing.
Heather Simmons-Ellis: it's something I enjoy doing because the conversations I get to have I had a doctor in Virginia who was struggling she was literally using her savings account to pay the bills and that wasn't something that she's prepared to do for more than six months and we started working around June of last year and implementing Chiro Health USA in July and slow process to kind of get her going and then I Call the phone call that says Heather. I need to tell you my numbers and I put her through the homework side of things and she said that was the worst part because I had to face.
Heather Simmons-Ellis: The reality of what she had created the number system. And so it's up to you to go build that but what she told me was super impactful like the increase in revenue and just a matter of a couple of months was more than 33% patients coming back month after month was 28% where she was struggling to the point where she again was using her savings account to pay the bills. She was less than $200 away from not having a bar from her savings and paying her savings back. And the only thing we did was reevaluate the numbers we started charging for the services. It is so common for practices to go. It's an extremity. It's free who cares about that exam. I'm gonna document that I did it, but I'm not going to collect for it's lost Revenue.
Dr Michael Perusich: Don't even started on that one.
Heather Simmons-Ellis: We could probably talk all day on this but I don't very passionate but when you put an emphasis, it doesn't no one said that you had to charge $300 for the exam. If you increase rates by about five dollars that could equate to a 13-month revenue cycle and…
Dr Michael Perusich: right
00:35:00
Heather Simmons-Ellis: you didn't have to pay to Market and you didn't have to treat more patients. It was a $5 increase. It makes the world a difference.
Dr Michael Perusich: yeah and it's that simple, so we need to Put a little spot in here for our sponsors, but I want to come back and talk about that just a little bit more. And how we think we have to build trust the wrong way instead of the right way. So we're here with Heather Simmons Ellis from Chiro Health USA amazing program. back. We'll have a quick word from our sponsors Chiro Health USA and Kats Consultants. We'll be right back.
SPONSOR MESSAGE
Dr Michael Perusich: All right, everybody. We are Welcome back to the KC CHIROpulse Podcast. I'm here with Heather from ChiroHealth USA. And we're talking about just all kinds of great things that you can do with a Chiro Health USA plan in your practice. If you don't have one yet you are missing out so contact them immediately and get this going into your office. And if you're not a client of ours a cat's Consultants, we can help you pull this together too, because we look at profitability analyzes and things for chiropractors and these two things just really fit together. so enough about that we were before we took the break We're starting to talk about how. You can use this program to really build trust with patients and we talk about trust leads into loyalty and loyalty is where you develop those lifelong patients that I call them the patients who stay pay refer and believe in what you do.
Dr Michael Perusich: And those are the patients that we want to build and you won't build this with everybody I get that. But you can build this with a really sizable portion of your practice. And here's the cool thing about that. Profitability and practice growth lies on the retention side of practice. Can you imagine a McDonald's only only allowed to their stores to sell one hamburger to each Patron? And That was our lifetime limit. They could only get one hamburger. No, they set their system up. So you want to come back for in whatever your favorite restaurant is. Why is it your favorite restaurant? Because you like the food and you keep going back? So we want patience to do the same thing. We want to build our business like an entrepreneur and that happens on the retention side. And so when you put Chiro Health USA plan in your practice and you develop the correct strategies to implement it. And Heather's created doing this for you helping you with us.
Dr Michael Perusich: When you do that. The Loyalty meter goes through the roof.
Dr Michael Perusich: And it's so I think counterintuitive for a lot of doctors. I think we get ourselves in that insurance mindset that we can't get away from insurance. we've got to use insurance and I think this is why we have a tendency to give away services. they're not going to cover an extremity adjustment on the same day that I do a spinal adjustment. So big part I get it patient needs it. We're just gonna throw it in. We're just not gonna charge for it. Nails on a chalkboard I know it is for you,…
Heather Simmons-Ellis: but he
Dr Michael Perusich: too. if you're gonna do the service. You should charge for it. What you do has value and chiropractors don't even get me started on that topic. We have more value than any other kind of profession in my opinion. Not just because I but I'm also Chiropractic patient.
Dr Michael Perusich: But you should be charging for what you do and Heather you said this before the outset. You don't have to charge $300 for that progress exam but Charge something and…
Heather Simmons-Ellis: yes.
Dr Michael Perusich: those small little increments of just charging a little bit, you have intersect tables in your practice. And I know a lot of doctors use them for Comfort measures. it just feels good for the patient. I don't really charge them for it in terms doesn't cover it and blah blah blah. But what if you charge $5 for it, are you gonna run all your patients off suddenly…
Heather Simmons-Ellis: Yeah.
Dr Michael Perusich: because you charge $5 for it. No, but at the end of the day if you saw a hundred patient visits, I'm just doing the math easy. He had an extra $500 which brought into the practice now.
Dr Michael Perusich: Maybe you don't need the money. But maybe you can donate more back to the community. Maybe you can give staff a needed raise because they've got families and mouths to feed at home and you want to take care of them too, so many great things you can do with the profitable practice. So I think we have to change our mindset a little bit and I see Chiro Health really helping doctors change that mindset in a positive way.
Heather Simmons-Ellis: There's a compliance aspects to a lot of what we talk about as well because compliance is something that every practice has to do and…
Dr Michael Perusich: Yep.
Heather Simmons-Ellis: if you're not being compliant, then I'm not sure what you're doing in practice but CHUSA Chiro Health USA is a small piece of compliance in your office. So we acknowledge that we hear practices all the time just struggling with One,…
Dr Michael Perusich: It is.
00:40:00
Heather Simmons-Ellis: I don't know how to charge for that Heather. I'm oftentimes. It's so common for me to just discount additional family members to one dollar five dollars things like that. There's a compliance piece and again you and I could probably go on and on and on and have various conversations about a lot of different things. But the trust factor is absolute key and how you commun Care to a patient the cost of care to a patient.
Dr Michael Perusich: Yep.
Heather Simmons-Ellis: What Chiropractic is to a patient is so imperative and it needs to be clean. You don't need a team member fumbling through. I think the cost today is hold on. Let me check. what is it? Because it sounds like you don't know what you're doing. And if you don't know what you're doing when it comes to the dollars…
Dr Michael Perusich: right
Heather Simmons-Ellis: then how do you know what to do when it comes to the care? Right, so I'm a firm believer that every doctor as I said earlier should never ever ever have the financial discussion with patient…
Dr Michael Perusich: right
Heather Simmons-Ellis: if at all, this is where you need to trust your team. Educate the patient all of this is so important focus on the patient outcome.
Dr Michael Perusich: exactly
Heather Simmons-Ellis: Tell them what to expect share the stories. you guys know this as chiropractors patients need a way to communicate their needs one thing that I think a lot of practices. Miss is getting the patient feedback. Right and…
Dr Michael Perusich: Yep. Good point.
Heather Simmons-Ellis: do it do a small survey maybe every quarter why did the patient leave if it may not have been anything happening in the practice? It may have been something in their personal lives. It may have been a financial decision. But if you conducted a small survey no more than three, maybe five questions because you don't want to overwhelm anyone but just get some Anonymous feedback. All of that's going to do is improve your practice and set up better patient outcomes.
Dr Michael Perusich: Yep, said so true true. so what does it cost? to set up a chiro Health USA program in a practice
Heather Simmons-Ellis: It's my favorite question and I love to tell doctors all the time. If you really want to cut me a check to cash and mail it to 955 Warriors Trail Vicksburg, Mississippi. I'll take it…
Dr Michael Perusich: Here, I love it.
Heather Simmons-Ellis: but to be fair ChiroHealth USA is free. So when Dr. Fox were set up the network 16 years ago. His goal was to make it so that it was What's more than affordable complimentary? So Chiro Health USA. Does this on behalf of the profession now the patients do pay $49 that is a yearly fee. So they join January 1st, it's July If it's June 1st, it's to June 1st of the next year the 49 dollars automatically includes they're dependent. So for me, it's my husband and
Heather Simmons-Ellis: Four children $49 covers our entire household and we actually are patients. I see a Chiro Health USA provider because I have a deductible High copay insurance plan.
Dr Michael Perusich: I love it.
Heather Simmons-Ellis: So it doesn't make sense for me to use my insurance and again that's another path that we could go down. But I truly use Chiro Health usa ction using it tomorrow to see my doctor but it's Affordable Care while you're still being profitable. So cost to practice nothing. We provide the training I work directly with doctors in their team. I want to say hold their hand Dr. Michael, but I do as much as I can I've had cry. I've had them calling me from closets in their practice going if they know I've seen it all. And we just love to help I have an amazing team here at Chiro Health USA.
Dr Michael Perusich: 'll do y'all do
Heather Simmons-Ellis: We're all Mississippi girls. So outside of Dr. Foxworth you can't get away from our southern accent, but we just love to give back. So Chiro Health USA costs to practice nothing. It makes you money.
Dr Michael Perusich: what else is there to say? I mean that's just a win so it helps with your compliance, which that's number one, and doctors if you're trying to do a discount program in your practice on your own.
Dr Michael Perusich: Stop and call Chiro Health USA. Let's get you compliant right now that scares me as much as anything in the profession for your practice. So get compliant, but here's the rest of it. It creates a membership program in your practice, which creates more retention. It creates lo It creates brand recognition. It's easy to talk about with patience. You've got all the support from ChiroHealth USA. there's just so many benefits to it. And it makes your fee structure much more simplified. And if by chance you're thinking about moving more in a cash Direction and maybe eliminating some insurance plans here and there maybe you have some that don't pay hardly anything or you just don't have very many patients on it. This can be a great tool to help you gravitate away from that most importantly it gets you compliant and it simplifies.
00:45:00
Dr Michael Perusich: Your fee strategy your fees and your practice and make sure more profitable.
Heather Simmons-Ellis: profitable discount strategy
Dr Michael Perusich: Love it.
Heather Simmons-Ellis: That's our term for 2024.
Dr Michael Perusich: Love it.
Heather Simmons-Ellis: That's what we're doing with what I'm about to say I say very humbling. I know that this may not mean as much to everyone who's hearing or listening to our goal at career Health USA is to see this profession be number one. Our goal is to give back in so many ways Dr. Foxworth and I tend to get emotional over this piece. So you guys aren't going to hear me cry today. He's a phenomenal mentor of mine over the last Almost 13 years, but what he does for this profession so that we can see better reimbursements so that we're more inclusive to Health Care is really astounding so when I say that we donated more than three million dollars back to Chiropractic funding research and…
Dr Michael Perusich: Okay.
Heather Simmons-Ellis: just seeing where we can get the tide to shift. That's what we do we work with Data Association to groups Kats Consulting to offer an opportunity to do things the right way. So State seminars, you're going to see me there if it's not me, it's a team member. we're out on the road and…
Dr Michael Perusich: Yep.
Heather Simmons-Ellis: we're putting ourselves out there with you guys to understand better some of the hurdles that you're encountering, but we are very very much dedicated to seeing every chiropractor. succeed
Dr Michael Perusich: You all are amazing. And please pass our thanks along to Dr. Foxworth for everything. He does for this profession and you guys. Y'all really do support this profession in a lot of ways and that's just another reason to go check out Chiro Health USA when you have a chance out there, so if you're not utilizing their program right now, you should be so as your coach possibly future coach. I'm telling you do this at least go check it out. So Heather really appreciate you being on here today? I think we could probably jot down about 20 more topics that we could talk about. So we'll get you back on here soon and will
Heather Simmons-Ellis: Wait, okay, we could do a lot of this. All day, I think it's and…
Dr Michael Perusich: yeah.
Heather Simmons-Ellis: I hope everyone understands the passion that we have. What I will say to in this is I know that we need to wrap it up if you are becoming a cat's consultant client. I can promise you that you will work with me directly. So that's just a little piece,…
Dr Michael Perusich: We love that.
Heather Simmons-Ellis: but honestly, I tell practices all the time. And have you become a Chiro Health USA provider. My goal is to hear what you're doing and say you're doing things good. I tell practices you don't need us more times than they expect. You're doing things the right way continue to do what you're doing or that's kind of bad if you tweaked in a little bit right and made those changes. You don't need Chiro Health USA or holy smokes that is totally illegal. Stop what you're doing. Right. let's tweak and fix all of this. You absolutely need Chiro Health USA. So that genuinely is my Approach. It's not something everyone needs but we're happy to figure out if you need it and how we can increase all of the numbers and things that you and I've talked about today.
Dr Michael Perusich: Absolutely y'all were really truly wonderful at that.
Heather Simmons-Ellis: Thank you.
Dr Michael Perusich: All…
Heather Simmons-Ellis: Thank you. Absolutely.
Dr Michael Perusich: everybody Heather. Thank you for being on here today call Dr. Foxworth. We said hello and for everybody out there if you haven't done so yet go to Katsconsultants.com check out all the great things we're doing there's free downloads and things on there and Heather. How do they get a hold of you guys?
Heather Simmons-Ellis: Simple just shoot me an email [email protected] and I will help you out.
Dr Michael Perusich: Beautiful and I'm telling you all Heather is always there for you. So, all right. I don't think I have any other announcements. So thank you everybody for tuning in to this week's episode of the KC CHIROpulse Podcast. Subscribe to the podcast tell your friends about it, and we will see you all next time. Have a good one.
Meeting ended after 00:49:34 👋