How to Run a Cash Chiropractic Practice

4 Minute Read Time
January 4, 2024

Since the shift from ICD-9 to ICD-10 in 2015, the codes that practitioners must record have increased. While ICD-10 documentation helps improve chiropractic care, it can slow down services.

Also, handling this task and filling insurance forms can be tiring. Unfortunately, the lack of proper documentation can cause issues when claiming from insurance companies. It also leads to financial audits and losses if you must reimburse patients.

Shifting to a cash-based practice is an ideal way to reduce documentation and speed up work. Here, we explain how to run a cash chiropractic practice. We also discuss how using various digital tools can help you improve chiropractic care and increase your revenue.

1. Create Collaborative Care Plans

Most chiropractic patients prefer specialists who work with them when creating care plans. This makes them feel that you value their opinions and prioritize their health. When wondering how to run a cash chiropractic practice and make it successful, consider engaging your patients.

One ideal way to do this is by allowing them to handle the onboarding process. With digital solutions like ChiroSpring, your patients can schedule their appointments and populate their intake forms.

They’ll provide all the crucial information about their health, such as allergies and medications. Using these details, you can then create care plans designed to address their specific health needs.

More ways that collaborative care plans can help you run your practice include:

  • Simplifying the consultation process
  • Helping you provide highly sought-after treatment plans
  • Simplifying the referral process

Another way to grow your cash practice is by engaging your patients when creating treatment plans. Instead of only working with the methods that you prefer, present patients with all available options. Explain how they work, and provide a detailed cost estimate for each.

This way, your patients will understand the nature and effectiveness of each treatment plan. They may then set realistic health goals and know what to expect during therapy.

2. Position Your Practice as an Authority in the Chiropractic Field

A significant number of patients still have doubts about trying out cash practices. This makes it tricky for such facilities to compete with insurance-based ones. The best way to gain a competitive advantage is by building your name in the chiropractic field.

First, improve the quality of your services by having highly qualified staff. When your patients feel satisfied by how you serve them, they will recommend you to other people.

Using innovative technology is another way to run your cash chiropractic practice. Adopt various tools to improve diagnoses and create more effective care plans. Use management systems to ease operation and consult other chiropractors to provide the best care when treating patients.

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3. Use Innovative Payment Systems

If you use complex billing systems, you are likely to frustrate your patients. Such tools can also lead to errors that will affect your reputation. These can cause your patients to lose their trust in your services and shift to other facilities, reducing your revenue.

Avoid such problems and grow your practice by using a suitable cash payment app. With an integrated tool like ChiroSpring Pay, you can avoid costly errors and boost your earnings.

You can also increase transparency and boost patient retention rates. Using the app will help you accept ACH payments and process bills all in one place.

Adopting an innovative payment tool can support your care plans and increase subscription. Instead of writing your SOAP notes manually, key them in alongside the patient’s profile. This will lessen the time required for documentation and encourage more people to seek your services.

4. Protect Your Reputation

Did you know that lawsuits are among the key reasons that medical practices fail? If you don’t protect your name by avoiding such cases, you can lose most, if not all, your patients. It will also be hard to convince people to subscribe to your care plans.

Grow your cash practice by safeguarding your reputation in different ways. For example, address patients’ complaints and develop ways to avoid such issues in the future. Document all the services that you provide, and keep proper records of transactions using a reliable payment app.

Lowering your practice’s liability is also an ideal way to protect your name. When creating care plans, ensure that they have an agreement clause. Once your patients sign the document, they accept to take responsibility for the risks associated with the treatment.

If you find it hard for patients to sign up to care plans with this clause, offer bonus services. For example, give free nutritional counseling or soft tissue therapy. Providing added benefits will encourage more people to subscribe to care plans, even if they have to share liability with their specialists.

Learn How to Run a Cash Chiropractic Practice with ChiroSpring Pay

Using the right strategies to run a cash practice will help you offer better care and boost your revenue. ChiroSpring can provide you with the right tool to grow your facility. With the payment app, you can learn how to run a cash chiropractic practice and put your patients’ needs first. This tool will also help you come up with smart care plans and implement them.

ChiroSpring is an all-in-one practice management and EHR system built specifically for chiropractors to help them regain face-time with patients, spend less time on back-office tasks, maintain a limited staff, and save operational costs.

To see how ChiroSpring can help you simplify how you manage your practice, reach out to one of our specialists today!

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