…talk about what type of practice protocols do we need to have when we’re navigating a challenging economy, because our patients are navigating it.
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Disclaimer: The following is an actual transcript. We do our best to make sure the transcript is as accurate as possible, however, it may contain spelling or grammatical errors. Due to the unique language of acupuncture, there will be errors, so we suggest you watch the video while reading the transcript.
Hello to my acupuncture friends and family. This is Sam Collins, the coding and billing expert for acupuncture and for you. Obviously, the American Acupuncture Council is always a resource for you as the American Acupuncture Council Network. Network members spay pay special attention, if you will.
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Let’s get into what’s going on in our world right now. Let’s go to the slides and talk about what type of practice protocols do we need to have when we’re navigating a challenging economy, because our patients are navigating it. We hear on the news every day, gas prices, grocery prices, everything. So we’re gonna be challenged now for that discretionary income.
When I say that, it’s for patients coming in, let’s face it, when they think of acupuncture, what are they really thinking about? When an economy tightens, an acupuncture practice that depends on cash pay patients needs to make some pivots. You need to make adjustments because shifting from a visit-based revenue to a value-based revenue is what you’re going to look to.
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And what I mean by that is shifting from something that’s value. Understand needs versus wants. This is something I’ll give credit to my mother, taught me when I was very young. People will buy what they want and beg for what they need. Think of how often you’ve had a friend that comes to you to borrow money to pay a bill, yet you notice they have on new shoes or they went out to a concert.
That’s, they wanted that concert, but they need to get their bill paid. I wanna put our category of care more to a want, the patient’s seeking it out, not creating that, “Oh, I need it.” ‘Cause I don’t think people often are gonna feel that need in the ways that we think it is. So keep in mind, though, discounting alone is a weak lever.
It really just compresses margin. You just, you make it cheaper, great, but it makes it more commoditized. I want a practice that focuses on doing things well, and these things are gonna be retaining a patient, repackaging and differentiating what you are that are different from others. Where do I get these?
Realize that often when you think of going out and marketing just to the public, that may not work as well. I start first with where’s the return on investment? It’s with existing patients. Think of retention first. Think of all these patients that have seen you over the years that are familiar with what you do, but they’ve just forgotten.
Acquiring new cash patients gets harder and more expensive in a downturn because where’s your marketing? I had a friend this week that said he was trying to post a job on Indeed and he wasn’t getting results. It just kept getting more and more costs from Indeed. So he had to think of what’s the return on investment.
The return is gonna come from your existing base. That’s gonna be your most reliable stream. Identify your patients. Reactivate who’s already there. Send them out emails, maybe a phone call, maybe a text message, and look for patients that have not been in for maybe 60 to 180 days. You could certainly go longer, but I would start there.
Think of the number of people who are familiar with that go, “Oh, yeah.” Make sure you use it as condition specific. Don’t just say, “Hey, come back in, get some acupuncture.” Get specific to your patient. Go into and get each one. Don’t send a blanket. Ask them how their low back pain is holding up, how maybe they’re dealing with home and work.
How about stress, anxiety? Realize acupuncture helps a great deal there. Patients often forget those changes. What about someone with headaches or how about athletes? A lot of athletes are realizing now recovery and their ability to participate in their sport comes to how well their body can maintain function.
So focus in on these types, whether it’s high school, club, or otherwise. There’s often a lot of help that you’re giving that I think sometimes we’re missing out on. Keep in mind, every professional team has an acupuncturist. Why aren’t you getting some of those patients, not necessarily maybe the professionals, but the other athletes who look up to them?
Now, I’m gonna suggest, though, outcomes. The beauty of acupuncture is its ability to work. Now, obviously, if someone comes in and they’re in a lot of pain, what is acupuncture going to do? Reduce the pain. I like that. But is that all they’re coming for? I don’t think so. This is why you wanna use simple outcome tools, whether it’s the Oswestry Dis- Disability Index, neck disability, or the PROMIS pain scales, or general pain ind- pain index.
I wanted you to in- demonstrate improvement trends, not just a reduction of pain. If all you’re looking for is to get rid of pain, that may go on a visit or two, they’re gonna think, “I don’t need anymore.” I want to see the progress so that the patient now understands the value. The value of the service makes price less of an issue This is the want.
Define the care. You’re taking them from acute to corrective to functional. Notice this is not about just getting them to maintenance. I want you to avoid terms like maintenance or wellness. That is where people don’t see the need. I want it to be their ability to function and maintain their ability to their lifestyle.
Maybe you wanna start to change your pricing, but pricing is not a race to the bottom. It’s not so much changing a price to make it the cheapest, but making it more affordable. Realize if you go to purchase a car, you’ll notice they never really advertise the price of the car, ’cause if they told you the car was eighty thousand, you would never wanna buy it.
But if they tell you, “Oh, you can get this car for six hundred and fifty a month,” all of a sudden now it seems affordable. So this is where it comes to you. What about monthly debits? Maybe where they get two to four visits at a preferred rate. Maybe with that, they join this package, they’re gonna get some priorities, maybe priority scheduling, maybe same-day visits, or discounts on other things.
Maybe they get discounts on your herb programs. But focus on the access and continuity of the care, not that it’s cheap. Tie it to a specific diagnosis, condition, or a goal. Maybe you have lumbar pain and stabilization program. Maybe it’s a stress program. Maybe it’s a headache program. Any of those are fine, but it’s gotta be anchored to the value of an outcome, okay?
Not just the cost of the visit. I’m looking more to the outcome, and don’t tie the outcome only to pain, but their ability to maintain their lifestyle and function. Now realize prepaid packages could be a good start to this. Realize in every state you can do it. Some states like Montana and Florida do require that you put money into a trust account.
But for the most part, just keep it simply compliant that the patient understands what they’ve purchased. Maybe the single price is eighty dollars a visit or a hundred. But if you buy a package of ten, maybe it’s only sixty a visit or six hundred, but that’s six hundred paid up front. Make sure it’s a good financial understanding, meaning if the patient knows what they’ve pur-purchased, they sign a financial document.
Make sure there’s expectations from you as the provider, what you’re gonna give to the patient, but also to the patient, the expectations of the visits, the, continuity of care, what happens if they miss a visit and so forth. I would just say, “Okay, good. We’re gonna extend it.” But do make a plan.
Don’t just leave it open-ended ’cause realize to be compliant, there’s gotta be some type of refunds. Now, refunds would be if it’s unused, they get it back. But I would suggest just p-push it forward to a different plan. Make sure you’re making clinical differentiation. Again, not just pain, but conditions.
Maybe they work at a desk. Maybe they have a neck or back issue from that. Maybe they’re a runner. Maybe they’re, again, headaches, stress, sleep. You can name almost anything that you deal with. Think of the myriad of services that acupuncturists can help someone with. Start to tie it to that, not just the reduction of pain, but how those increase function.
Realize if I’m reducing a headache and the headache is gone the headache’s not there, but how does that tie into their sleep or to their lifestyle, their stress level, how they’re dealing with relationships? What about integrating some care? Pair your services with other things. Maybe you’re gonna pair it with some type of exercise program.
Maybe you pair it with some massage. Maybe you pair it with stretching. But think of the myriad of things. It could be yoga, tai chi, qigong. Think of all the places you could go with this for a patient to go, they’re gonna come in and get this 30-minute visit, then they’re gonna get maybe some guided exercise or an ability to just have a p- a space in your office to do it, even if you’re not one-on-one with them.
Bottom line, though, is give me some outcomes and objectives. Give them something they can measure and see, not just, “I feel better,” but there’s things they can do that where they’re better. Expand your cash-friendly services. What about setting up a community acupuncture? Think of this is why the j- not the joint, but modern acupuncture.
Realize modern acupuncture is struggling. I’ve seen a lot of them close because I think more and more offices like ours are beginning to integrate that in that you can offer that style. But what about adding to it? Again, soft tissue programs, guided exercise, or how about short tune-up care plans?
Something that, okay, this is a three-visit care plan or a four-visit, but make it something that’s accessible. What I would avoid is across-the-board discounts, okay? That’s the death knell, because you’re gonna attract price shoppers. Someone’s gonna go, “Who’s the cheapest today?” That’s not the type I want.
Remember, you’re not a 99-cent store. You’re a doctor. When I pick a doctor, I’m picking a doctor because they’re good. Now, it’s gotta be affordable and reasonable, but I’m gonna pick you because of what you’re offering, that outcome. So make sure that you’re giving them function and necessity, not wellness.
Make an emphasis towards how your care gives them an ability to work, sleep, daily function, athletic function, and recovery. If you wanna get a good place to get patients, join a gym. Get in there and work out. Dress nice. But the more people learn that you’re an acupuncturist, trust me, you’re gonna get people that wanna come to your services.
Realize people who go to the gym generally have higher than average incomes if they have a gym membership. They may even have decent insurance. Realize this doesn’t negate using some insurance, but this means we’ve gotta pivot for these types of patients. Bottom line is your proof. Measure the outcomes.
Now, what I say about bottom line is not the proof of the patient, your outcomes. When you make these changes, anything you do, whether it’s taking insurance, not taking insurance, doing packages- Track your visit averages. Track your revenue per visit. What’s the retention rate? Did this really work? You’ve gotta have a metric.
Think of it, it’s like going onto Shark Tank a little bit. You have to go on and say, “Did this work?” And if it doesn’t, that’s okay. We pivot and adapt. Realize a practice is always changing. This is why we call it a practice. It’s not a perfect. You wanna start to learn what to works. What does your community look for?
What are your goals? Your goals are what my goals are. You have a good, successful, fun practice. Acupuncture works well, but often people don’t understand it because they’re tied to the pain model. Let’s get them going beyond that. The American Acupuncture Council is always your support. My network is the big support.
If you’re a network member with me, reach out. Let’s get into some details here. Let’s do a one-on-one Zoom. Let’s spend some time together. If you’re not a network member, take a look here. This is something we’re really here to help you. Our goal, make your practices successful because without you, I lack success as well.
Until next time, my friends.