Starting a chiropractic practice is both exciting and overwhelming. If I could go back and share insights with my younger self, I would have saved years of trial and error. My goal is to help other chiropractors—especially those looking to build freedom in their practice—avoid some of the common pitfalls that I encountered. Here are the things I wish I had known before starting my practice.
1. People Want to Use Their Health Insurance
I used to think that going fully cash-based was the only way to create a thriving practice. While cash-based models work well in many cases, I wish I had realized earlier that most people want to use the health insurance they pay for. If you are in a state where insurance coverage is good, it’s worth considering which policies are the most lucrative and how they can be integrated into your practice. This doesn’t mean taking every insurance plan, but strategically choosing the ones that allow you to maximize revenue while still providing great care.
2. Volume Matters—You Need to Charge More or Leverage Your Time
When I first started, I had a vision of seeing a reasonable number of patients and making a great income. What I didn’t realize is that volume matters. If you want to see fewer patients, you need to adjust your pricing accordingly or create leverage in your business. You can do this by:
- Charging premium fees and positioning yourself as a high-value provider.
- Hiring associate doctors or staff to increase capacity.
- Adding other revenue streams, such as wellness programs, supplements, or ancillary services.
Understanding this sooner would have allowed me to create a better balance between income and lifestyle much earlier in my career.
3. Freedom Comes from Scaling and Leveraging Your Time
I spent years feeling trapped in my practice, thinking that the only way to make more money was to see more patients myself. What I wish I had understood earlier is that freedom comes from scale. Once I learned how to:
- Train and delegate effectively.
- Build systems that allowed the practice to run without me being there every second.
- Implement structures that leveraged my time (such as group care, memberships, or pre-paid care plans).
I was able to create real freedom. Scaling a practice doesn’t mean working yourself into the ground; it means optimizing your operations so you can step away without everything falling apart.
4. Investing in Myself & Understanding the Rule of 72
One of the most valuable lessons I learned too late was how to invest in myself and my financial future. The Rule of 72 is a simple concept that estimates how long it takes for an investment to double in value. If you take 72 and divide it by your annual return rate, that’s the number of years it will take for your money to double. For example, if you’re earning 10% on an investment, your money will double in about 7.2 years.
Had I prioritized financial literacy and understood how to leverage my savings and investments earlier, I would have created wealth much faster. Investing in continuing education, business mentorship, and wealth-building strategies pays exponential dividends over time.
Final Thoughts: A Jump Start for Your Success
If you’re just starting out, I want you to get a jump start ahead of where I was. Understanding insurance strategy, volume economics, business scaling, and smart investing will set you up for long-term success. Learn from my experiences, and don’t wait years to make these realizations—start implementing them today, and you’ll build a practice that gives you both financial success and personal freedom.