This is the third in a series of short "how-to" briefs on making advance preparations for opening your chiropractic office. This month we recommend that you prepare your curriculum vitae (resume) and personal financial statement. You may simply need to update the previous versions you used to purchase your home or apply for an auto or student loan. When you apply for a business loan or lease, the first documents requested will be your vitae, financial statement, and loan/lease proposal, which includes business plans, demographic research, projected income and expenses, architectural plans, and proposed equipment purchases. Your vitae will also be immediately useful when applying for preceptorships and state boards.
Your curriculum vitae should be custom tailored for the specific occasion. A vitae for courtroom testimony is long and very specific, while other vitae are concise and emphasize different facets of your experience. Including irrelevant information (e.g., worked at Fastburger) can even hurt the impression your vitae gives. Your bank vitae should include the following areas: name and degrees; college, doctoral, and postdoctoral education; any previous practice, business, or management experience; outstanding community service; age; spouse and children's names (only if currently married); and a local address.
Preparing a "net worth" financial statement is a sobering experience for most of us. Often our plans fail to take into account an accurate estimation of our financial resources. This is why your financial statement will be scrutinized by banks and leasing companies. Your bank will be happy to provide you with a blank form. Follow these tips when filling out the statement: include as many assets as possible, including pensions, IRAs, annuities, business equipment, real and tangible property, and high sales value of autos, boats, and personal property. Include only the cash value of life insurance policies. List student loan debt separately from other unsecured notes. Do not get carried away listing all your credit accounts as these actually count against you. A copy of your credit history will be obtained, so it may be best to explain any problems that will show up. You may also be required to produce a copy of your will and statements for any other partnerships or businesses in which you are involved in.
You may be thinking of graduation as a time of relieved stress, but it is busier than you can possibly believe. By preparing now, you will more easily meet future deadlines when opening your chiropractic office.
Scott Jorgenson, D.C., D.A.B.C.O.
Lexington, Kentucky
When sports chiropractors first appeared at the Olympic Games in the 1980s, it was alongside individual athletes who had experienced the benefits of chiropractic care in their training and recovery processes at home. Fast forward to Paris 2024, where chiropractic care was available in the polyclinic for all athletes, and the attitude has now evolved to recognize that “every athlete deserves access to sports chiropractic."
It is estimated that 61% of patients with CTS avoid taking surgical options due to postoperative complications and costly surgical procedures. Chiropractic care offers a comprehensive and effective treatment for carpal tunnel syndrome, addressing the condition from multiple angles. Recent studies also have unveiled a game-changing adjunct to chiropractic treatments for CTS: nerve flossing.
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?
