Subscriptions: The Modern Revenue Model for Chiropractors

3 Minute Read Time
January 4, 2024

Membership and subscription models are everywhere these days, from Amazon’s automatic reordering and Hello Fresh meal plans to Netflix and Dollar Shave Club. Basically, for a monthly fee, consumers can get a set number of interactions or an unlimited plan.

These membership programs have become mainstream for many consumers. Financial services firm UBS determined that the so-called “subscription economy” is worth $650 billion in the US today and forecasts growth to be $1.5 trillion in 2025.

Healthcare is also embracing this trend. Some medical practice and independent primary care physicians now offer services for a flat monthly fee, though membership programs have become more common as a modern revenue model for chiropractors.

Easier for Patients, and Recurring Revenue for Chiropractors

The subscription model provides benefits for patients and chiropractors alike.

Benefits for Chiropractors

As a modern revenue model for chiropractors, subscriptions provide chiropractors with a consistent cash flow. It removes the stress about whether you’ll have enough patients coming through your doors each month to pay the bills and turn a profit.

A subscription model also reduces or eliminates the reliance on insurance reimbursement, concerns about diminishing payments, and caps on adjustments and treatments. Moving to a subscription model can cut down on claims and coding enough that a practice can reduce staff size and overhead.

In short, it removes many of the challenges and pressures of running a chiropractic practice, including:

  • Decreased insurance reimbursements
  • Changing patient payer types
  • Payer expectations
  • Diminished profit margins

These are just a few of the key drivers behind the high levels of burnout reported by chiropractors. Beyond the physical workload, the stress, mental, and emotional demands of running a practice and maintaining a comfortable profit margin also take a toll.

A subscription model reduces many of these stressors.

Benefits for Patients

Patients also see significant benefits from switching to a subscription model for their chiropractic care. They no longer need to worry about what portion of treatments their insurance carriers will cover or how many adjustments they can get.

Monthly fees are traditionally less than the copays that they would have had to pay for multiple visits each month. Most insurance carriers have a limit to the number of treatments that are covered, which means patients who want to continue their care end up having to pay out of pocket at higher rates.

Patients get a more affordable option and consistent care. This provides better outcomes because patients will worry less about costs and more about living a healthy lifestyle.

They also enjoy the convenience. Most subscription plans offer walk-in adjustments or same-day appointments.

Another benefit for patients and chiropractors is that neither is bound by what insurance carriers will pay. You’re free to choose the course of care that you believe will benefit the patient. This enables you to create more flexible care plans that meet unique patient goals. If a particular treatment isn’t producing the results that you want, you can easily switch to a different course of treatment without having to worry about what the patient’s insurance plan will cover.

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ChiroSpring Makes the Modern Revenue Model for Chiropractors Easy

To offer subscription plans, chiropractors must have the right practice management software, one that’s built for chiropractors.

ChiroSpring can handle subscription or membership plans in addition to insurance claims. For chiropractors who want to transition to a cash business with monthly plans, this software makes it simple to create service packages, automate the billing process, and track usage. Most subscription plans have a “use it or lose it” policy. ChiroSpring automatically writes off unused visits at the end of each month.

You can offer patients pre-defined bundles, such as a set number of adjustments and consultations each month, or you can quickly create custom care plans.

You can also automate payments to reduce billing and statements. With auto-pay functionality, you can easily set up recurring monthly payments without having to worry about non-pays, chase collections, or fight with insurance carriers over claims. This software can store credit card information or echeck/ACH payments so payments are automated. Once payments are received, ChiroSpring automatically posts them to the patient’s ledger and enables fast reconciliation.

ChiroSpring is both practice management and electronic health records software, so you can manage everything about your practice in one centralized platform. Since it’s also a secure cloud solution, you can confidently store personally identifying information and protected health information and remain in compliance.

If you have multiple offices or locations, authorized users can access patient information anywhere they work, as long as they have secure internet connectivity.

All these functions make it easy to manage subscriptions, whether you want to move to a full-time subscription model or continue to offer insurance options or pay-as-you-go models.

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