3 Fundamental Mindset Shifts to Help Build a Cash Practice
Someone tagged me in a chiropractic post where a student had asked “should I go cash from the start, or take insurance?” I believe almost everyone commented something about how cash is king and it would be smart not to even dabble into the insurance game.
As I was reading the comments, I saw a couple of chiropractors expressing concern over the “kinds” of patients you’d expect to see under insurance, versus cash. And I thought this is worth discussing.
The assumption is that you have to be in a good part of town, or that your target market should be wealthy in order to go cash. I can see why someone would make this assumption. But I also have many clients who are running super-successful cash practices in average neighborhoods, or their patient base is far from being considered wealthy.
If you are looking to switch to cash and are hesitant, I understand; but don’t allow it to stop you from experiencing the freedom that comes with the transition. Work on the following three fundamental values, and you’ll be able to have whatever kind of practice you want; cash, part-time, million dollar, billion dollar, etc…
Everything that comes out of your mouth should be aligned with who you truly are. Your thoughts, actions, and words must be one of the same. In order to raise consciousness, you must consciously choose your belief system, make sure you are aligned with it and that it’s true for you. And ensure that your actions follow. This is the only way to be truly authentic. “Selling” chiropractic through scripts is not a highly conscious way of running a practice, and it will end up creating incongruities that will end up hurting you.
You must believe in what you provide. This sounds like common sense, but it’s deep. Every cell in your body must know that each patient’s life is MUCH better off with chiropractic in it, than without it. I remember I didn’t feel this conviction in me for the first couple of years of practice, until I almost lost a patient to suicide. Then I quickly realized that my conviction wasn’t where it was supposed to be. So I regrouped, and it changed the way I looked at patients from that point forward.
How are you communicating your value? How are you educating the world, or your patients about chiropractic or subluxations? Do you communicate to make an impact? Do you truly connect with your patients to understand their needs? Or do you have the “I have to close this patient” mentality? I get it, money is important. But your interactions with patients must come from a neutral place. You must listen to them in order to understand how you can help them. You must feel abundant and provided for, before walking in to see a new patient.
These three elements, Conviction, Consciousness, and Communication – must be at the cornerstone of your practice for it to be successful. And if you are going to transition to cash and or grow exponentially, they become even more crucial.