Some doctors thrive in a personality-based clinic and have a loyal following no matter what services or equipment they offer, but for most chiropractic offices who are trying to grow and expand, new equipment purchases help us stay relevant and continue to service our client base in the best, most up-to-date manner possible. So, regarding equipment purchasing: should you lease, get a bank loan, or pay cash?
Comparing Chiropractic
Of the more than $35 billion dollars spent on ambulatory, nonphysician (non-MD) services in 1987, chiropractic accounted for almost 10 percent. But for that money, chiropractors provided over 17 percent of the total patient contacts:
TWO PIE CHARTS
Nonphysician Ambulatory Services
Expenditures: Nursing - 16.6%
Lab - 20.8%
Physical Therapy - 13.3%
Speech Therapy - .9%
Mental Health - 9.6%
Optometry - 1.2%
Chiropractic - 9.8%
Podiatry - 2.5%
Other - 25.3%
Patient Contacts:
Nursing - 17.3%
Lab - 6.6%
Physical Therapy - 7.4%
Speech Therapy - 1.2%
Mental Health - 9.8%
Optometry - 1.1%
Chiropractic - 17.6%
Podiatry - 2.6%
Other - 36.4%
How is it that physical therapy accounted for over 13 percent of the $35 billion, while only providing about 7 percent of the services, while chiropractors accounted for less than 10 percent of those dollars and providing over 17% of the services?
----------------- SOURCE: Nichols, L. Nonphysician health care providers: use of ambulatory services, expenditures, and sources of payment (AHCPR Pub. No. 96-0013). National Medical Expenditure Survey Research Findings 27. Agency for Health Care Policy and Research, Rockville, MD: Public Health Service, Jan. 1996.