Adding medical doctors,physical therapists, and physician extenders (nurse practitioners or physician assistants) to a chiropractic practice can be a mind boggling maze for first timers. It’s expensive. Finding the right personnel is not always easy, and there is always the chance that third party payers can change their payment policies.
So why do it? You really have no choice. Unless you have a really great niche practice that is largely or solely all cash or personal injury you will not be able to sustain your present lifestyle if you remain all chiropractic.
When you integrate you will be able to create multiple income streams so if one begins to slow down or gets decreased reimbursement from third party payers you will have the others to fall back on.
You will get to spend more time away from your business doing the things you love. This is because in an integrated practice most of the income is derived from services performed by the medical personnel. Your presence is not required in the office, for example, when physical therapy is being performed by the physical therapist.
As a medical practice there is no limit to what you can do. I’ve had clients who have hired orthopedic surgeons to do procedures in the surgery center, others who have added med spa services, and others who have added family practice to thier offices. Why miss out on all of the opportunities to increase your business that come your way.
You may have heard stories about chiropractors having legal troubles due to integration, but on closer examination you will find that in all of these cases the doctors were breaking some pretty important rules of practice or outright billing fraud was involved.
The truth is that if you follow the rules you can have the practice you have dreamed of and you can make it whatever you want it to be once you have integrated.