According to market research, the chiropractic market has a value of over $18 billion. Over 68,000 facilities currently offer chiropractic services in the U.S. As the number of professionals in this field increases, the demand for the existing market also rises.
Many practitioners are shifting to cash-based practices to offer better services and attract more patients. This change is also due to the challenges associated with running an insurance-based healthcare facility.
If you are considering running a cash-based chiropractic practice, it’s vital to have a comprehensive plan for attracting patients and offering affordable services. Failing to do this may make it hard to convince patients to subscribe to your care plans.
Here, we provide the ultimate guide on how to run and grow a cash-based practice. We also discuss the link between creating care plans and improving service delivery.
1. Create Flexible Care Plans for Cash Payers
As health statuses change, the kinds of chiropractic services needed will vary. Patients may need to explore other treatment methods to determine their effectiveness. If you don’t have a flexible care plan, it will be hard to adjust to different therapies.
When running a cash-based practice, consider adopting flexible care plans to improve the quality of chiropractic services. Understand the needs of each patient, and use this information to develop flexible health goals. These plans will also enable you to measure progress even if the patient shifts to a different therapy.
The main benefit of creating flexible care plans for cash payers is that it increases freedom. If a specific treatment has undesirable side effects or doesn’t deliver the expected results, your patients can switch to a different one.
Flexible care plans show that you care about the needs of your patients. This aspect can encourage more people to sign up for the chiropractic programs that you offer. Furthermore, allowing your patients to have a say in their treatment process can eventually grow your brand through referrals.
When developing care plans for your practice, it’s advisable to include offers that encourage more people to subscribe. For example, offer cash discounts for the first round of treatment. Alternatively, provide incentives such as bonus therapies or nutritional counseling. Such strategies will simplify adoption and help you attract patients who once preferred insurance-based care.
2. Offer Affordable Payment Plans
Seeking healthcare services from cash-based practices may be costly at first for some patients. If you overprice your care plans, it will be hard to encourage subscription. Attracting patients who previously used insurance to pay for such services can also be a daunting task.
The best way to promote your facility and enjoy the benefits of a cash-based practice is using affordable payment plans. Allow your patients to select the most suitable transaction method for them.
Options that you can offer include:
- Credit cards
- Money orders
- Online payments
Since handling many transactions can be time-consuming, it’s advisable to use payment solutions. Software like ChiroSpring PAY can streamline billing and boost transparency.
In the long run, adopting such a tool will help you maintain more patients. It will also support your care plans by easing the challenges of writing reports from SOAP notes and booking appointments.