Chiropractic Fear of CollectingOct 27, 2022
Chiropractic Fear of Collecting
The Fears of Practice - Part 3
By Dr. Michael Perusich
We are halfway through our Halloween “Fear” series, and our hope is that your fears are starting to shift into courage and confidence.
This week, we are talking about money and mindset regarding the Fear of Collecting.
This is a real fear that we commonly refer to as the “Poverty Complex.” This fear is born out of thinking that if we give patients a “good deal” they will be more likely to stay as patients.
This is a completely unfounded fear as it is in direct opposition to the reasons why patients will happily pay you full price.
But too often we think that our patients can’t afford the $50 adjustment, occasional progress exam, or a therapy treatment on each visit. When we succumb to this fear, our reaction is typically to either offer the patient deep discounts, no-charge the service, or just not recommend some services at all. In the long-run this causes compliance issues as well as reputational and profit damage to your practice.
Words of wisdom to keep in mind: You are not a patient's financial advisor and it is not your responsibility to assume that they can’t afford your services or come up with the money to pay you.
It’s your job to clearly state what your best recommendations are and show patients the value of regaining their health. You must also possess a strong belief in what you do and how you help people every day.
Remove the poverty demon from your practice, and run your business without fear.