Being proactive vs. reactive with tax planning will have a tremendous impact on profitability and long-term wealth creation. Keep in mind, I am not a CPA and I am not giving tax advice. Rather, I’m passing on information that I learned as a practice owner and now implement in my financial planning practice. While not an exhaustive list, here are a few items to contemplate in 2025 as you watch the dollars in your practice.
Chiropractic Treatment Procedures
Summary of Reported Patient Demographics | ||||
Gender | ||||
Male | 40.7% | Female | 59.3% | |
Age | ||||
17 or younger | 9.7% | 51 to 64 | 21.2% | |
18 to 30 | 19.1% | 65 or older | 13.3% | |
31 to 50 | 36.7% | |||
Ethnic Origin | ||||
White | 65.0% | American Indian | 3.0% | |
Hispanic | 10.3% | Filipino | 2.4% | |
Other | 0.9% | Alaskan Native | 0.3% | |
Asian | 5.6% | Pacific Islander | 1.4% | |
Black | 11/3% | |||
Occupation | ||||
Tradesman/Skilled Labor | 19.1% | |||
White collar/Secretarial | 16.5% | |||
Homemaker | 13.8% | |||
Unskilled Labor | 12.0% | |||
Executive/Professional | 11.9% | |||
Retired or other | 11.7% | |||
Student | 7.6% | |||
Professional/Amateur athlete | 7.4% |
The 16-page NBCE Survey of Chiropractic Practice asked participants to report demographic information such as gender, ethnic origin, highest level of nonchiropractic education attained, postgraduate certificate, and the institution which conferred their doctor of chiropractic degree. It also asked participants to report certain patient demographics (as illustrated above).
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Survey data indicated that less than five percent of responding chiropractors currently held hospital staff privileges; 77.2% reported that they had received referrals from medical and/or osteopathic physicians within the past two years.
Chiropractic Treatment Procedures
Primary Approach | % |
Full Spine | 93.3 |
Upper Cervical | 1.7 |
Other | 5 |
Adjustive Techniques | % |
Diversified | 91.1 |
Gonstead | 54.8 |
Cox/Flexion-Distraction | 52.7 |
Activator | 51.2 |
Thompson | 43 |
SOT | 41.3 |
NIMMO/Tonus Receptor | 40.3 |
Applied Kinesiology | 37.2 |
Logan Basic | 30.6 |
Cranial | 27.2 |
Palmer Upper Cervical/HIO | 26 |
Meric | 23.4 |
Pierce-Stillwagon | 19.7 |
Other | 15 |
Pettibon | 6.3 |
Barge | 4.1 |
Grostic | 3.4 |
Toftness | 3.3 |
Life Upper Cervical | 2 |
Adjustive Techniques | % |
Diversified | 91.1 |
Gonstead | 54.8 |
Cox/Flexion-Distraction | 52.7 |
Activator | 51.2 |
Thompson | 43 |
SOT | 41.3 |
NIMMO/Tonus Receptor | 40.3 |
Applied Kinesiology | 37.2 |
Logan Basic | 30.6 |
Cranial | 27.2 |
Palmer Upper Cervical/HIO | 26 |
Meric | 23.4 |
Pierce-Stillwagon | 19.7 |
Other | 15 |
Pettibon | 6.3 |
Barge | 4.1 |
Grostic | 3.4 |
Toftness | 3.3 |
Life Upper Cervical | 2 |
Survey respondents were asked to indicate their primary technique approach, and which of 20 adjustive and 25 nonadjustive techniques they have used in their practice during the previous two years.