Chiropractors: Treat Growing Pains With a Line of Credit
You’re doing a great job of treating your patients’ back pain—your patient base is steadily growing, and they couldn’t be happier with the results. But what about your chiropractic practice’s growing pains?
If your chiropractic practice is scaling quickly, then you don’t want to fall behind the curve. Building your patient base without taking the appropriate steps to grow your business and offer better treatments could work against you in the long run.
Even with better cash flow, overhauling your practice can be challenging. For chiropractors, small business loans can be pivotal in helping you to improve your facility and equipment, offer better communication with patients, and provide top-notch treatments.
Small Business Loans for Chiropractors: Addressing the Growing Pains
According to Capterra, 65 million Americans suffer from chronic lower back pain. Moreover, the total potential industry-wide profit was $14 billion, as of 2016. Your chiropractic practice can be a crucial piece of the puzzle in providing a solution and earning a market share, but only if you take the necessary steps.
After a few months in business, it’s inevitable for your treatment to be in high demand. Returning patients is a great indication that patients are fully satisfied. Whether new patients hear about it through word-of-mouth referrals, find your website online, or through an insurance carrier, everything can change in a short period of time. And expanding your office and offerings as you go should be your first priority, after restorative treatments.
Capital can help you set in motion all of the dreams you’ve had for your practice, between new cutting-edge equipment, a larger staff, and new patients.
Purchase The Latest and Greatest in Chiropractic Equipment
Sometimes, simple manipulations are just what the doctor ordered. But to make your chiropractic office the best it can be, you’ll need updated equipment that puts your practice a peg above the rest.
Cutting-edge new chiropractic equipment will allow you to take a more advanced approach for patients that require a more nuanced treatment.
Some of the best new chiropractic equipment could include:
- New adjustment tables
- Activator tools (operating through software or electronic impulses)
- TENS units
- Cold lasers
- And more
To maximize the impact of your transition, it’s best to buy the best equipment available— you don’t want to compromise with weaker equipment, and end up regretting it.
You could buy new equipment as you go, but overhauling your facility in one sweep can be more convenient, and minimize disruptions. Capital financing for chiropractors can help you purchase all of the equipment you need, instead of leaving gaps to fill later on.
Hiring Additional Staff For Your Chiropractic Practice
Even if you’re flying solo at the moment, you probably have at least a physician’s assistant and a secretary on staff. If you have growth on the horizon, though, that arrangement might not last.
With things moving along smoothly, hiring additional employees is an absolute must. Like in other businesses, building the right team for the job is a crucial part of scaling your chiropractic office, including:
- A second (or third) chiropractor: High demand is a good thing. You may be able to handle patient capacity at the moment, but if the phones keep ringing, then you may eventually need to partner with another doctor.
- Physician’s assistant: With more patients waiting at the door, you won’t have to take care of everything yourself.
- A receptionist: Patients want to make the appointment scheduling and payment process as seamless as possible. Hiring a receptionist means you can deliver the best customer service around, and make sure patients always feel their needs are taken care of.
- Clerical employee(s): A higher patient volume means more paperwork to process. Rather than overwhelming one employee and risking errors, it’s better to delegate this task to a dedicated team of employees.
With the right people for the right jobs, you can effectively treat more patients with absolute ease. Small business loans for chiropractors enable you to hire good help, rather than risk putting your operation in the wrong hands for lower wages.
Launch Marketing Campaigns With Capital Financing Available to Chiropractors
If you’re exploring financing options and growth strategies, then you clearly have a steady and growing stream of patients. But why stop there?
Launching one or several marketing campaigns informs even more potential patients about how chiropractic care can help them alleviate pain, and why you’re the right practice for the job.
The days of advertising your chiropractic practice on billboards are over— digital marketing campaigns can help you reach precisely your target audience, and only pay for those who click.
Your chiropractic digital marketing campaign should include a number of channels:
- Website: First and foremost, your website is the anchor when it comes to advertising your business. Almost all patients will visit the website after learning about your practice through a campaign, or hearing about it from a friend. If your website isn’t quite up to date, then improving it to provide a good user experience and convert visitors should be a priority.
- SEO: To get the best mileage out of your website, SEO is key. Optimizing your website for search engines like Google ensures that patients in your area can find your practice for location-specific keywords.
- PPC: Advertising your practice with pay-per-click ads is a highly cost-effective model. Depending on how effective each channel is, you can advertise on Google, social media, and more. Retargeting can also remind previous site visitors about your practice.
- Social Media: Engaging with patients on social media is a simple, free, and effective way to keep your practice in the back of patients’ minds. By posting tips about chiropractic care, you can remind patients about the value of your services.
While it’s an old-fashioned technique, direct mail marketing can help you to find new patients, and suggest older patients return for periodic adjustments.
As you build your chiropractic practice with capital, you can double down on the marketing strategies that work best, and allocate your budget accordingly.
National’s Got Your Back: Capital Financing For Chiropractors
National’s financing programs are designed to provide capital simply and quickly, without draining your precious free time.
After filling out a 60-second application, we’ll find the best options within our network of over 75+ lenders to compare the best rates and terms. The ROI from having a loyal patient base will pay off in droves.
Get started by applying today!
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