Kats Chiropractic Consultants CHIROpulse

196 What is the Chiropractic Business Outlook for 2025?

• Marisa Mateja

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Welcome to the KC CHIROpulse Podcast.  

This week’s topic:  What is the Chiropractic Business Outlook for 2025?

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.  Dr Perusich is one of the key seasoned experts in the profession when it comes to Chiropractic business management and development.  This podcast provides invaluable insights and actionable strategies to help you create a flourishing and sustainable Chiropractic business.

In this episode, we discuss:

  • Where do the opportunities for DC’s reside in 2025?
  • Where to focus your attention for maximum business success?   
  • What are “danger traps” for practices in 2025?
  • …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 personalized 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, and represents the opinions of the speakers.  Seek the consultation of a professional for advice in those areas. And remember…your results using this information may be different than described.



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KC CHIROpulse Podcast. Helping Chiropractors keep their pulse on success. Thanks for listening.



Dr. Michael Perusich:

What is the outlook for 2025 for chiropractic clinics? Hi everybody. I'm Dr. Michael Perusich, welcoming you to the KC ChiroPulse podcast brought to you by Kats Consultants and ChiroHealth USA. Today, I want to talk about what 2025 might have in store for chiropractic practices. First of all, I think 2025 is going to be an amazing year for us. I really think a lot of stars are aligned. And ready for us to just explode, but it's only going to happen probably with the practices that are really on top of things, really paying attention, really watching for those opportunities and really taking control from an entrepreneurial standpoint of their practices. If that's, if you're not doing that, I think it could be a struggle, but. And these opinions are just my opinions. That's all they are. So let's let's dive into this and I give you some of my thoughts here. So part of my thought is I think with the economy starting to strengthen back up, we're past this contentious election where consumers were pulling back. I think consumers are going to start spending money again, especially on healthcare. People started feeling really bad in 2024. There was a lot of negativity floating around. There was, a lot of reasons to not feel good. And I think people are going to start wanting to feel better again. And of course, after the pandemic, we really got pushed up the totem pole of health care, especially when it comes to wellness based care. And so I really think those practices that are focusing in on that, are going to do well. But here's the key. You're going to have to get out in your communities so people understand who you are, what your practice is about, and that you offer those kind of services. They've got to get to know you. Today's consumer wants to know their doctors. They want to know who they are. So you're going to have to get out of the clinic. You're going to have to Not just be in the in social media, you're going to have to physically get out in your community, which is a good thing. It's a good thing. People want to see you out there in the community now for practices who are insurance based. You're going to have to really be on your toes in 2025. You can do well, but you're going to have to be on your toes. You're going to have to be really good at communicating value. And why? Insurance doesn't pay for everything. They haven't paid for everything in quite a while. So if you've been one of those practices that has practiced the bundling trick to make patients think that the insurance company is paying for more than it is, and you're just not collecting for some of those services, or you're just given those services to patients. For a virtually no charge, you're going to have to unwind that. We're going to have to turn that around and communicate value. So the practices that learn how to do that, I think are going to do well. Now that may require you to have some tools in place like a chiral health USA plan. You might need to have a really good business coach like us at Kats consultants. Yes, I know. Shameless plugs. But the point is, You may need help with that because it can be a tricky scenario if you don't develop the right communication strategies. Okay. We're going to take a quick pause here, get a word from our sponsors and I want to come back and I want to talk about where some of the opportunities are going to be in 2025 for those of you that are paying attention. So we'll be right back.

ChiroHealth USA:

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Dr. Michael Perusich:

Hi, everybody. Welcome back to the KC ChiroPulse podcast brought to you by Kats Consultants and ChiroHealth USA. We're talking about where the opportunities are going to lie and what the outlook is for 2025 for chiropractic practices. And again, I really think the outlook looks good for those practices that are paying, really paying close attention. The ones that are managing their expenses, the ones that are looking for those opportunities and practice. One of those opportunities is I hear a lot of doctors talk about not having raised their fees in many years, not having raised their fees for sometimes 20 years, patients don't expect you to have 20 year old fees. They don't expect you to have 10 year old, five year old, two year old fees, money, sorry, not money. Costs have gone up a lot of the last couple of years, so you should be trending along with that. So don't play financial advisor for your patients. Play value administrator. Okay, so showing patients you have care. Patients will spend money on things they find value in. Those practices that really apply that principle are going to do well. In the insurance world, I think we're going to see more audits. Why? A couple of reasons. One insurance companies are looking for ways to cut back expenses. They don't want to pay out. They want to pay out as little of those premium dollars as they can in reimbursement to doctors and healthcare providers. So they're going to be looking for ways also over the last five, 10, 15 years, probably there's been a lot of doctors who have fallen out of the insurance game. They've moved to concierge or cash based practices. And so because of that, there are fewer doctors on insurance plans. So that means they have fewer doctors to go out and audit. So I think they're going to, I think the likelihood of seeing more audits in your practices could be pretty high. Now, where's the opportunity there? Get really good at managing insurance compliance, managing HIPAA, no surprises that because they're going to be looking at those kinds of things, potentially managing your documentation and your diagnosis story that you're telling the insurance company and really managing patient care well, so that you're not over utilizing. And you're moving patients to maintenance when they should be discharged from those insurance based plans. And what am I talking about? Most insurance companies don't pay for what most of them don't pay for maintenance. And yet some of you out there and don't turn this off because I'm saying this. Some of you out there are trying to bill insurance for what really should be maintenance care. So make sure you're following those rules, proving medical necessity. If you don't know how to do that, Call us. We can help you with that because if you're not proving medical necessity, then you may be putting yourself on the insurance radar screen to be audited. Also, preauthorizations are becoming a bigger and bigger thing. More and more insurance companies, especially a lot of the advantage plans are going to preauthorizations. So you've got to have good procedures in your practice to be able to get those preauthorizations in a timely fashion so that You can get patients under care. They can utilize as much of their benefits, insurance benefits as possible, and you get reimbursed in a timely fashion. And remember insurance doesn't pay for everything. So don't try to make it look like they do. All right. We're going to take another quick little break here. We'll be right back. We're talking about the opportunities and the economic outlook for chiropractic practices in 2025. Hang in there.

Kats Consultants:

Kat's Chiropractic Consultants, your partner in chiropractic success. We are dedicated with one on one guidance to bring you all your practice management needs. Let's supercharge your practice. Give us a call today.

Dr. Michael Perusich:

All right, everybody. Welcome back to the KC Chiro Pulse podcast. Get myself tongue tied to get so excited talking about economics. So here's another area that I think chiropractors really going to score in those practices that have moved into more of a cash based practice. And I don't mean dumping insurance necessarily. Altogether. That's not what I mean. Now some haven't and they're doing very well. What we see is the more cash based the practice, the higher the profitability in the practice. Why? Because it's on the cash side of practice that you have control over your fees. You can raise your fees to the insurance company all day long. They're only going to pay you the same amount. But if you raise your fees on the cash side, you have some control there. So the practices that have moved in that direction are doing very well. Now, is it too late to do that? No, I don't think so. You're a little behind the eight ball, but because it takes a while to, to move in that direction, because it's a slow walk in most practices to do that. But you can move in that direction at any time. And the sooner you do it, I feel like in my opinion, the better it is for you. Not too long ago, I wrote a article in Cairo economics and go back and read it. It's about how to develop a concierge practice and do it the right way. And in there, I talk about the benefits and the profitability of what happens in that kind of practice. And it's, Huge. It's huge. So moving to more of a cash based model or creating more cash based services in your practice is a great idea. Here's the cool thing. Again, people will pay for anything that they find value in, and that is to become more and more Apparent as we move into the later months of 2025, the economy's getting better. People are going to feel like they have more disposable income and things. So don't be afraid to move in that direction. And remember there's a right way and a wrong way to do it. This is another one of those areas you probably don't want to try to do on your own. So there's lots of opportunities in 2025, but you're going to have to be a really good business person. You're going to have to manage compliance. You're going to have to manage documentation, your diagnosis, story, preauthorizations. You're going to have to manage all these different things. You're going to have to get really good at patient communication and managing the financial side or the cost side of chiropractic treatment plans for patients and helping them understand the value. Here's the other thing. The practices. Who have a highly engaged, highly trained, highly developed team around them are going to do the best. Why? Because it's those practices that provide the best patient experience. It's those practices that find the most opportunities for profitability. It's those practices who retain patients better for the longterm. And it's those practices who keep patients in long term care, maintenance care, whatever you want to call it. The most. So that's why they do so well. So make sure that you're creating training and development programs in your practice. And I hear a lot of docs say we don't want to spend time doing that because it takes away from patient time. I'm telling you, every ounce of time you spend on team development will come back to you tenfold. Okay. I promise you we see this all the time. The practices that don't do development a lot of times don't do well. They don't hang on to staff. They're a constant revolving door of staff. They don't hang on to patients. Patient retention is terrible. Patient experience is terrible. And the profitability is low. And we see absolutely the opposite effect of that with the practices that do development. So getting on board and joining programs like Kats Consultants or whatever and instilling those programs in your practice. It's one of the great things that we do is we help you train and develop your staff. So make sure that you're investing. It's an investment. Make sure you're investing in things like that. And lastly, I'm going to say this. Make sure that you take advantage of financial opportunities, whether it's savings, whether it's simple IRAs and those kinds of things, make sure that you're taking advantage of that and saving a sizable portion of your monthly collections in your practice, whether it's for a rainy day or for your future benefit. All right, everybody, those are my outlooks for 2025. There'll be more to come in future episodes of the KC but I'll First off, I really want to thank you all. 2024 was an amazing year for us. Our podcast grew like crazy, and it's all because of you, the listeners out there. So please keep listening, subscribe, share this. We appreciate the opportunity to get in front of you. We were all very blessed with amazing practices and an amazing experience in the chiropractic profession and continue to have that amazing experience today. And We do this because we just want to give back to you guys out there. We want you to have the same great experience that we did, and we want you to be just as profitable or more. All right, everybody hats off to you. Happy new year. Here we are 2025. Hopefully you're getting used to writing that 25 on your documentation. Make sure you check out PowerHealth USA, all the great things and programs that they have to offer your practice, as well as Kats Consultants. com. Go check us out, check out all the free things that we've got on our website. And if you want to schedule a consultation with us, we'd love to do breakthrough calls and just hear about what's going on in your practice and how we might be able to plug in and help. All right, everybody on behalf of all of us here at Kats Consultants, I'm Dr. Michael Perusich. Thanks for tuning in. We'll see you next time.