June 15, 2025 • 38 mins
Welcome to the KC CHIROpulse Podcast.
This week’s topic: Are you paying for results, but not putting in the work?
The KC CHIROpulse Podcast is designed for Chiropractic professionals ready to elevate their practice to new heights. This week, the show is hosted by Kats Consultants’ coaches Dr Michael Perusich and Dr Troy Fox, seasoned experts in Chiropractic business management. This podcast provides invaluable insights and actionable strategies to help you create a flourishing and sustainable Chiropractic business.
In this episode, we discuss:
- Why the expense mindset is preventing you from maximizing profitability
- How the ROI on business coaching can help you build massive success
- Why utilizing friends and colleagues for business tips can be dangerous
- How to choose the right business management coach for you
- …and so much more…
In each episode of KC CHIROpulse, we delve into crucial aspects of building a successful Chiropractic practice, covering topics such as establishing a strong foundation, adopting a patient-centric approach, mastering marketing techniques, achieving financial fitness, fostering effective team building and leadership, integrating technology and innovation, and navigating common challenges in the field.
Whether you're a seasoned chiropractor or just starting your practice, the KC CHIROpulse Podcast offers a wealth of knowledge and personalized practical advice to help you navigate the intricate world of Chiropractic business. Join us on this journey as we explore proven strategies, share success stories, and connect with industry experts to empower you in your pursuit of building a thriving Chiropractic practice.
Don't miss out on the latest insights and expert guidance. Subscribe now and unlock the secrets to taking your Chiropractic practice to the next level. Your success is our priority at Kats Chiropractic Business Advisors.
DISCLAIMER: The information presented in this broadcast is for educational purposes only and is not intended to offer legal, investment, accounting, or medical advice, and represents the opinions of the speakers. Seek the consultation of a professional for advice in those areas. And remember…your results using this information may be different than described.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Dr. Michael Perusich (00:09):
Alright doctors, do you know what the
big misconception is in ourprofession?
Hi everybody.
Welcome to the KC ChiroPulsePodcast, brought to you by Kats
Consultants and Chiro HealthUSA.
This is the podcast of no flufffor chiropractors who are done
playing small and ready todominate their markets.
(00:31):
Are you ready, Troy?
I.
I'm ready.
That got me excited.
I know, right?
All right.
I know.
So everybody out there, if youhaven't tuned in before, this is
Dr.
Tory Fox.
I'm Dr.
Michael Perusich.
We're your host for today.
And I really wanna talk aboutthis topic that I think is the
biggest misconception in ourprofession.
'cause I wanna get real on thisfor just a minute, and that is
(00:52):
the idea that good businesscoaching.
For your practice is nothingmore than an expense rather than
an investment.
Ready go.
I think we can run with thisone.
I just think that's the wrongmindset completely.
Dr. Troy Fox (01:10):
I think it's the same, it's the same mindset
that, and I'll give twoexamples.
One boards, how many of you tooklike an Irene Gold or something
like that?
I think Irene Gold's stillaround.
So did I.
That was an insurance policy forsuccess.
It was a great insurance policyfor success.
It was just in case.
It was just in case.
Now, here's the other thing.
(01:32):
You know how many, and you canname it for me, I'll give you a
few seconds to answer thisquestion.
How many NFL teams right now inthe league are operating without
a head coach during season?
None that I'm aware of.
Why?
Couldn't.
They're all good footballplayers.
They've all been coached before.
(01:54):
They know how to play football,right?
Why do they need a coach?
Dr. Michael Perusich (01:57):
They need somebody to, is it just for
somebody hold it all, alltogether and give oversight and
they don't just have one coach?
No.
Yeah, they got multiple.
Yeah.
What was it, Michael?
Michael Jordan always said he gagave all of his success to his
coaches.
Notice it's plural.
He had nine coaches.
To help him be great.
Nine coaches,
Dr. Troy Fox (02:19):
and this is a guy that's considered there's the
LeBron argument, which I for youthat for those of you that think
LeBron's better than Michael,come on now.
Come on.
Let's be real.
Michael's the goat, but here'sthe deal.
I.
This is the guy that wasarguably probably the best or
one of the two best basketballplayers.
(02:40):
Or if you say there's a coupleothers, I like Larry Bird.
Larry was menacing.
Yeah, he was good.
So let's say he's in top five.
Okay?
Top five basketball players ofall times, maybe the greatest of
all time.
He still needs nine coaches.
Come on now.
Know, right?
He should able do this on hisown at this point.
What kind of crutch is that
Dr. Michael Perusich (02:58):
to need a coach?
So it's really a, just, it's amindset problem.
It's just a big lie.
It is that good businesscoaching isn't gonna help you in
some way somehow because he,here's how you have to look at
it, in my opinion.
If a good business coach, andI'm just gonna make up some
numbers, charges you a thousanddollars a month.
Okay, now that might sound likea lot.
(03:19):
A thousand dollars.
How many patients do I have tosee to.
Get a thousand dollars in theclinic, that's the wrong mindset
because that thousand dollarsyou're gonna pay to the coach
should be turning your practiceinto an extra$10,000 in
collections.
Now, if I told you I had aninvestment that you could invest
in a thousand dollars in everymonth, it's gonna pay you
(03:40):
10,000.
So by the end of the year, it'spaid you a hundred thousand
dollars on a$1,000 investment.
I Are you telling me youwouldn't do that?
Of course you would.
Dr. Troy Fox (03:53):
I would.
But here's, I'm gonna throw out,I'm gonna be devil's advocate
and you're gonna answer thisquestion.
So here's what we hearsometimes.
You're just gonna give me somegimmick that's gonna get new
patients in the door, right?
I can go online and figure outhow to get 20 new patients, or I
get emails every day for how toget new patients in the front
door.
Isn't that what, isn't that whatcoaching does in chiropractic?
(04:14):
It's just a marketing gimmick.
No,
Dr. Michael Perusich (04:17):
that's the wrong mindset.
We started this off saying, goodbusiness coaching, not marketing
schemes, not motivation, notgood tried and true business
principles, coaching andconsulting.
That's what we're talking abouttoday.
That's what is a good investmentand all the top practices in the
(04:37):
country have good businessconsultants behind them.
Dr. Troy Fox (04:43):
They also are not just focused on two numbers.
You know the big number back inthe day.
There were three numbers.
I was gonna say it.
Three numbers, I'm gonna say it.
New patient
Dr. Michael Perusic (04:52):
chalkboard.
Dr. Troy Fox (04:54):
Total visits.
Okay, what's the last one?
PV and PVA.
Oh, patient.
Patient visit.
You know that PVA, that patientvisit average, which can be
manipulated by the number ofnew, just lower your new
patients, lower your newpatients, and your pva VA goes
roof goes up automaticallythrough the roof.
So it's the dumbest statisticunless.
(05:17):
You can compare likewise,months, you could compare PVA
and likewise months.
Maybe there's a way to do that,but that's a really horrible
statistic to use.
But that's what people heard.
And quite frankly,chiropractors, I think you guys
are stuck.
And I don't mean this in a badway'cause I think some people
got a bad taste in their mouth15, 20 years ago by some
(05:38):
coaching that wasn't scrupulous.
I say it, there was someunscrupulous coaches out there,
little un, that were literallycharging an arm and a leg and
all they were telling you is youget your PVA up.
And I dealt with some of thosegroups.
Yep.
Because I was searching, and Ihad.
A solid coaching setup here withKats at the time, and I was a
(06:03):
client at the time, but yet Iwas searching for something
else, and so I jumped ship and Ifound out just how bad it could
be, and we've taken that conceptand improved upon it.
How many metrics do you look atwhen you look at.
A clinic stats at this point.
(06:23):
Obviously we look at how manynew patients, how many visits,
but how many numbers are youlooking at?
Dr. Michael Perusich (06:29):
We look at 40 KPIs, and then we look at, I
think it's a dozen trendingcharts.
So basically 52 different setsof data.
Dr. Troy Fox (06:41):
That's amazing and you can because of that, or we
can identify almost immediatelywhen we get some trending and we
like if you're a client of ours,we want you to send us numbers
because what it does is you havea data-driven practice then.
What I don't mean is you need toget your PVA up to 60.
(07:01):
What I do mean is we can look atyour data and we can look at the
trends that are going in yourpractice over time.
Not a month to month or a yearto year, but just literally we
can go this year to date, tothis year to date.
We can look at overall trendsand how you were sitting here
and now you're okay.
Why is that?
And we can identify in a lot ofcases, in a matter of minutes.
(07:25):
What's going on with yourpractice and where your bucket
has got a big hole?
Yep.
Because in a lot of cases,that's where it is.
You either A, just goes upquick, you either A, don't have
an open opening into the bucket.
You've got it closed.
That's no new patients, right?
You're completely not gettingany new patients or you have a
hole in the bucket.
(07:45):
In most cases, you have a holein the bucket.
Most of you're getting newpatients.
Maybe you need a little helpwith it, but that's really not
our focus.
Our focus from a coachingstandpoint is good business
practices and what do we lookat?
Do we look at and here's theother chalkboard moment.
Is when we go to stateassociations, what do people
always say?
How many new patients did yousee last month?
(08:06):
How many visits did see you?
See, and you know what I used todo that and people, and the
thing is, when you have a bigpractice, people wanna know what
you did.
They wanna know how many newpatients you saw and how many
visits you had.
But then once they hear it.
I think in some cases it, it'salmost like they're planning
your demise.
The second they hear it, they'relike, that's not fair.
(08:28):
I should have that.
And I think we do that sometimeswhere we compare ourselves, we
compare too much because here'sthe thing, you know what?
I could see 1500 patient visitsin a month and be less
profitable than you are at 800patient visits a month.
Dr. Michael Perusic (08:45):
Absolutely.
We see that all the time.
Go ahead, but I Hold thatthought.
Hold that thought for just asecond.
'cause I know where you'regoing.
We gotta take a break.
I'm getting, I'm about to getthe hook here.
So we're we're talking about thevalue of a good business coach
for your practice.
So you're listening to the KCChiroPulse podcast.
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Dr. Michael Perusich (10:21):
Okay, we are back.
We're talking about the value agood business coach brings to
your practice.
And Troy, I'm gonna let youfinish your thought that you had
before the break.
Dr. Troy Fox (10:29):
Yeah.
So I was talking about thedifference.
It doesn't matter how manypatients you see a month or a
week No.
Or a day.
What matters is, as a business,what's your margin?
Yeah.
What are your margins on that,on those patients?
If I have a 40% margin, I.
On every patient that I seebecause I run efficiently, I
(10:49):
have sourced materialsefficiently, products, material
or products efficiently, andI've got a 40% margin and you're
running at a 5% margin.
You have to see a heck of a lotmore patients in a month's time
and put a lot more wear and tearon your body to achieve the same
dollar amount coming in the doorand staying with you.
Dr. Michael Perusich (11:10):
So instead of.
If your collections are yourservices are 50,000.
Your, let's say your collectionsare 50,000, but your expenses
are 70,000, you're bankrupt.
Now you got a big problem.
You can walk around your stateassociation meeting saying, I
collect$50,000 a month, butlet's talk profit margin.
(11:33):
That's what I want to know.
What's your profit margin?
Do you even know what it is?
Do you even have one?
Lot of people don't.
I think that's, I think that's.
Where good coaching steps in, asa doctor, Troy you're still in
practice and when I was inpractice it's hard to, it's hard
to focus on patient care and thebusiness and so good business
(11:54):
coach comes in and helps youfocus on the business side
without you having to spend alot more time doing it.
And they, they bring in realstrategy, not just.
Theory or not, just well trythis, or my buddy down the
street doing this.
So I think I'll see what thatdoes in my practice that isn't
gonna work.
And good coaches bring insystems that help you drive
(12:16):
profitability.
They help you set a correct feestrategy.
They, I.
Provide training and developmentfor you and your team, which I
mean that right there is a gamechanger.
And they give youaccountability.
We all need accountability.
We go back to Michael Jordan forjust a second.
The guy had nine coaches.
Do you think they, those ninecoaches just always placated him
(12:38):
and said, oh, Michael, you'realready the greatest.
I don't really need to do much.
No, they drove him to be greaterand greater.
That's accountability, and weall need that accountability to
keep us driven.
Dr. Troy Fox (12:50):
Yeah, you'll just coast otherwise.
And that's one thing I see withpeople that come to us sometimes
that already have a greatpractice.
What would you have to offer me?
In a lot of cases, we're gonnapush you because you already
have a great practice and youwant more.
Let's say you come to us andyou're barely scraping the
treetops.
We may have some work to do.
(13:11):
And the thing is, you reallydon't wanna wait until your nose
down in the treetops alreadybecause people come to us
sometimes with that type ofsituation and they want somehow
for us to pull them up above thetrees, get'em up in the air
again and fly in.
And sometimes there's three,four or five different steps we
have to stepwise walk throughthis.
Yep.
(13:32):
And you're still spiraling inthe trees.
So those are the mostfrustrating ones for me.
When people don't understand.
Why am I not seeing success yet?
I use a really scientific termhere because you're a disaster
and a lot, and the problem is wesee this to where you may be the
best chiropractor I've everseen.
Your adjusted technique isunrivaled, but you've been in a
(13:54):
race to the bottom with yourfees.
You have got profitability,that's almost zero.
Your spending habits areatrocious and you just hired two
more people into your practicethis week when you don't have
the numbers to support it.
But when I ask why, and you buyevery shiny thing that comes by
your front door.
I ask you why you did it?
Because I want my practice togrow and big practices have
(14:18):
bigger staffs and more toys andblah, blah, but bigger practices
that have those came about,those in the proper way.
So there's a lot that we do froma coaching standpoint.
One from experience of workingwith other practices too.
From intuition.
'cause sometimes I'm justlistening to you, sometimes I'm
listening and I'm just sittingback smiling and I'm like.
(14:41):
I know where we're headed withthis.
'cause literally people willcome up to you and go, Hey, do
you have five minutes?
Can I talk to you?
Sure.
Like especially at seminars andthat sort of thing.
And I will listen.
And literally I could probablyfinish your sentences.
Dr. Michael Perusich (14:55):
Yep.
Dr. Troy Fox (14:55):
Because you guys are all making a lot of the same
mistakes that are makingmistakes.
Now, some of you that aren'tmaking mistakes, I listen and
go, oh, here's what I think theycould do to do better.
And I'm usually right about thattoo.
You're usually right about thatas well.
But.
Those are the two types ofpractices we see.
Those that are flourishing, thatcould be that, that aren't
(15:15):
expanded to their full potentialand those that are utilizing 2%
of their potential because theyjust don't know how to operate
in a business environment.
And quite frankly, that's notyour fault.
I'm not gonna fault you.
You didn't go to businessschool, you went to chiropractic
school.
Yeah.
And then unfortunately, what youfound out when you got out is
that you're running a business.
I will say that was a pretty bigslap in the face for me too.
(15:38):
Yeah, and all of sudden all thiscat stuff that I was learning, I
was like, oh crap.
I need to know how to do allthis stuff.
This isn't, there's a lot.
This isn't fantasy anymore.
This is reality in my life.
And I need to do some of thisstuff because we also keep you
abreast of federal law, right?
So we know when there areMedicare changes, we know when
there's insurance changes.
(15:58):
Yep.
We know when there are thingsthat you should or should not be
doing and make you aware.
So those are other things that Ihave to be aware of as well.
I'm no longer just in a bubblepracticing by myself anymore.
Dr. Michael Perusich (16:11):
So well the value of coaching, I, I
always say this, the proof is inthe numbers.
Practices that have goodbusiness coaches, they have
higher collections, they havelower overhead.
They're utilizing their profitcenters correctly.
Their fee strategies are setwell, they're retaining.
Patients better.
They're, they've got the rightflow of new patients.
(16:31):
'cause there's a right flow anda wrong flow.
And I'm not gonna go into thatin too much detail, but it's
kinda like capacity and you canreally screw your practice up if
you're doing that wrong.
And you're not having to guessabout what to do, we didn't
become coaches because we didn'thave experience.
We've, we've walked in yourshoes.
We are doctors.
We have owned clinics andpracticed in clinics and still
(16:52):
do, plus we've had businessexperience on top of that real
world business experience.
So there's a lot brought to thetable.
And I'm not trying to toot ourown horn, but we know what the
mistakes are.
We try to not let our clientsmake those same mistakes.
But here's how coaching works.
It's just like being achiropractor.
(17:13):
Okay?
You can be a great chiropractor,you can have the best adjusting
technique, like you said aminute ago in the world.
But if your patients don'tfollow your care plan, what kind
of outcomes do you get?
Not very good ones.
And coaching works the same way,and I hear this from people
sometimes.
Oh, I tried coaching.
It didn't work.
Did you implement what they toldyou to do?
No, I got into it.
It just, it, I don't know, itjust.
(17:35):
It just didn't seem right andI'm not really sure what I was
looking for.
And so I didn't do a lot of thestuff.
I didn't really pay attention.
I didn't show up to the seminarsand the events and my coaching
calls, and then I wondered whymy outcomes weren't good.
Hello?
Hello.
Are you in there?
It's just like your patient whosays, you know what?
I know you told me to come threetimes a week for four weeks, I
(17:56):
think I'll come once every threemonths.
You're gonna get, you're gonnaget lousy results.
So you have to be engaged withyour coach and your consultants
in order for it to work.
They put out the information andyour coaching calls and all
those things for you for areason, because it's part of
your plan.
(18:16):
So you gotta follow your plan,and if you quit or give up,
guess what?
Your results will look just likeyour patients who quit care.
Dr. Troy Fox (18:25):
Here's what's even worse in chiropractic is you
guys will pay for a result, butnever engage to get the result.
I.
I've seen that so many timeswhere you pay, that's a good way
to
Dr. Michael Perusich (18:36):
put it.
Dr. Troy Fox (18:36):
You're paying a consultant to work with you.
We tell you what to do, and yougo, okay.
And then you go back in andstart seeing patients again and
you never do any of it.
And then you go, I don't knowwhy I'm not doing any better.
But literally you're paying themoney every month, assuming that
just.
Making that payment should makeyour practice grow.
And it's honestly, it's such adisconnect that it's it's almost
(18:57):
funny and I know if you'relistening, you're going that's
weird.
People do it all the time.
You know what, I've done it.
I've done it, I've beendisconnected, and I'm paying
that monthly payment thinking,huh?
You guys do it with notesoftware too, by the way.
You think that it's gonna helpyour notes and fix your notes if
you buy a note software and thenyour notes still suck even
though you bought the notesoftware and you don't even, and
(19:18):
it still takes you just as long
Dr. Michael Perusich (19:19):
to do a note.
Dr. Troy Fox (19:20):
Exactly, and you don't even understand all the
features on the new notessoftware, but you thought by
making that monthly payment,that three year commitment to
it, that it was gonna fix allyour problems.
So honestly, we do that a lotjust as humans.
We wish we could buy our way outof things
Dr. Michael Perusich (19:35):
and we can't.
Yeah.
And the, that's, and wementioned this at the outset,
that, there's a lot of gimmickystuff out there.
Oh, yeah.
And it, it looks shiny andpretty and, I'll be honest, good
business consulting looks prettyboring.
Yeah.
But it's inside that can ofwhere the nuts and bolts are.
That the real value is and howmany of us have been snakebit by
these gimmicky things that areout there.
(19:56):
I'm not gonna point any fingers,I see doctors spend big money on
marketing plans to wind upgetting the same number of
patients they've always gotten.
Dr. Troy Fox (20:04):
And I'm gonna be, I'm gonna be really brutally
honest and say that some of whatwe see out there even right now
is.
The same turd with a differentwrapper on it.
And I hate to say that, but it'strue.
We're seeing some of the samestuff being told to people and
some of it's dangerous to yourpractice.
Yeah, it is.
Here's what we do that'sdifferent.
(20:25):
And I'm gonna set us apart.
We've been doing this for awhile and Dr.
Perus and I both said at theoutset that when we did this, we
wanted to do it with integrity.
We wanted to do it with apurpose.
We wanted it to be.
And for us we really wanted thisto be driven by God.
And yep.
That's our principles as westart this.
(20:46):
But when it comes to youcoaching, we wanted to keep it
small.
So we don't need, I don't want aconference room in a Marriott
hotel full of people.
I really don't.
Dr. Michael Perusich (20:55):
Yeah.
I don't want 500 people
Dr. Troy Fox (20:56):
around.
That's no what I want a smallgroup store where we can work
together and we can collaborate.
And so when we have.
When we have times that we gettogether, we keep those groups
small enough that I could stilltell you every one of your names
and I'll walk out and talk withyou while we're there.
We're gonna have time tocollaborate with each other
(21:19):
while you're there.
We're also going to haveone-on-one time with coaching,
which that one you expected.
We're also, when we do some ofour seminars, we will do'em
virtually.
You'll be there and able to chatand ask questions directly from
us in the middle of the seminar.
I mean without the expense ofhaving to travel.
(21:39):
No travel.
We're a hundred percentaccessible and we're available
after the fact as well.
You have more questions.
Email us after the fact we'regonna get with you.
But we focus and thrive on asmaller nuclear family of people
that we're working with.
We do that for a reason becausewe give you exactly what we
said.
I know everybody said, oh, it'san individualized approach to
(22:01):
coaching or.
Or whatever you want to call it,consulting, coaching whatever
they call it in the industry.
But when we are coaching you, wereally are doing an
individualized effort with yourpractice.
That's not cookie cutter.
You're not gonna walk in, I'mgonna go, here's this, and this,
and here's a packet.
Take it when you're done readingit, get back with me.
Dr. Michael Perusich (22:21):
That's not how this works.
It's not how this works.
And there's so many hiddendangers by not having a coach.
You mentioned a huge one aminute ago, compliance.
How many doctors have we talkedto that don't know there's been
HIPAA changes, dangers, or don'tknow what no surprises act is?
Or the myriad of things that wekeep our finger on for our
clients and not just tell them.
(22:44):
There's been a change orsomething new.
We show'em how to utilize it andhow to implement it.
But that's only one of thehidden dangers every year
without a good business coachmeans just more and more lost
revenue.
More and more stuck in thatmentality of, I already know how
to do this, or I've talked to mybuddy who's been in practice
five years longer than me, andthis is what he does.
(23:06):
R read the trade magazines.
Read the the legal magazines,especially the healthcare law
magazines.
And you'll find out about allthe doctors who listen to their
buddy down the street who havegotten in trouble because of
that.
So you, a good coach is gonnatell you what's right and what's
wrong, and keep you frombleeding profits in your
practice because, okay, doc'sout there listening.
(23:28):
How many of you buy a show ofhands?
I can see your hands.
How many, buy a show of handsare a not-for-profit
organization.
That's what I thought.
None of you.
So you've gotta be able tounderstand how to turn a profit
in your practice and goodcoaching.
Just tears the roof off yourpractice and looks down inside
from the top and gives you aview of your practice that you
(23:51):
will never see on your own.
And that's how we hold youaccountable and that's how we
see where to help you.
Dr. Troy Fox (23:57):
I love that.
Tear the roof off and a lookyou'd never,'cause you don't,
'cause you're from the insidelooking out.
Yeah.
You can't see it.
We're the outside.
We're the outside looking infrom 30,000 feet and quite, and
then we come down at eye levelwith you.
I.
Work with you.
And that's where sometimes andI've said this before and I'll
say it again, that's wheresometimes we get organizations
(24:19):
out there that say they'rereally poor, personalized, but
they never make it past the30,000 foot view.
Oh, you're a chiropractor, youneed more new patients.
Your PVAs not where it needs tobe.
Here's some materials to workon.
And here's what I want you to dobetween now and next time I see
you, that's as far as they get.
We get down in the weeds withyou.
To answer the questions, and Ithink that's what sets us apart.
(24:40):
But I don't think, I don't thinkthat says gee coaching in
general can only be the way thatwe coach.
I think there are other waysabout it, but, I tell people
this same thing when I'm inpractice.
Here's, and here's what I meanby this.
And so you can take what youwant from this, when you're in
practice, is it best to be thelowest cost provider in your
(25:03):
area?
Or is it best to be the bestprovider?
And cost may not be the lowestin the area.
I'm going with number two.
That's where I'm at in mypractice.
That's where I was in mypractice.
I'm not in a, I'm not in a raceto the bottom, but why am I not
in a race to the bottom?
I'm not in a race to the bottombecause I wanna provide a great
service to my patients.
Now, from a coaching standpoint,we could be in a race to the
(25:26):
bottom as well.
We could say, Hey, we're gonnacharge way less than anybody
else, but we're gonna give youway less services.
I think the type of client thatwe entertain in our group, in,
in Kats is the type of clientthat's a well-rounded client
that wants to improve theirpractice in all aspects.
And they want us to triage, whatdo we need to work on first?
(25:48):
And so what we do is we gettogether with you.
And we get, we, we basically doa triage session where you give
us kind of the 30,000 footoverview of what my practice is.
What does it look like?
I've got two locations, threedoctors, five staff, or I've got
one location.
I'm the only doctor and I've gotone staff who's my wife.
I mean it, it doesn't matter.
Dr. Michael Perusich (26:09):
It doesn't matter.
You
Dr. Troy Fox (26:10):
tell us what's going on.
Here are the biggest things thatI encounter in my practice and
my biggest concerns in practice,and here are my fears.
I'm noncompliant, I'm this, I'mthat.
I don't Your goals too.
Yeah.
And then we wanna look at yourgoals as well.
So we look at all those thingsand then we put a plan together
for you.
And that is what sets the cat.
(26:33):
Experience apart, because I'vebeen to other, I've been to the
large ones where you sit in abigger room and yes, you're
gonna get a personal phone call,you're, but we're gonna go
through, what are we gonna gothrough?
It's the laundry list for thatweek.
Hey, let's make sure this weekthat we're talking to all of our
clients about blah, blah, blah.
Is that personalized or is thatacross the board something that
(26:53):
needs to be addressed?
Maybe I've already addressedthat.
Okay.
Then you're good till next week.
Am I still paying X number ofdollars a month for this
service?
I want meat on the bone everytime I talk.
In other words, how's mypractice doing or what am I
doing?
I don't want the cookie cutter,here's what we're working on
this week thing.
So that's, I don't even know howto do that works now.
(27:14):
I wouldn't.
Dr. Michael Perusich (27:15):
Hey, we need to take another quick
break.
So when we come back, I want totalk about how to choose the
right coach.
And I got a couple otherthoughts too, so I'm sure you do
as well.
We're talking about the value ofgood business coaching in your
practice.
We're gonna take a quick break.
We'll be right back.
Kats Consultants (27:33):
Kats Chiropractic consultants, your
partner in chiropractic success.
We are dedicated with one-on-oneguidance to bring you all your
practice management needs.
Let's supercharge your practice.
Give us a call today.
Dr. Michael Perusich (28:00):
All right everybody.
Welcome back to the KCChiroPulse Podcast.
We are talking about bringing ina good business coach for your
practice.
Emphasis on good there.
Troy, want to, I want to banneraround here for just a minute.
What it looks like or how do youfind the right coach?
And I think personally, one ofthe most important things is do
(28:21):
they have business experience?
Where is their experience from?
Did they fail and practice anddecided to just throw a coaching
plaque out on the front doorand.
May, maybe I can tell doctorshow to run a practice better
than mine.
Or do they actually have realexperience in running a clinic,
running a successful clinic,maybe multiple clinics.
(28:44):
Business experience outside ofchiropractic.
I think those are some of thereally important things to look
for.
Dr. Troy Fox (28:51):
Well, a little gray hair doesn't hurt.
Because that does that, thatusually signifies some
experience, but not always.
But I would agree with you.
We see in a lot of cases peoplethat are consulting or coaching
other people.
That don't really have theexperience.
And that's where you and I havetalked about many times.
Having successful practices andhaving really been there, done
(29:14):
that, and I'm still right in theweeds right now and probably
will be for another 10 or 11years.
God willing and my health holdsout because I love what I do,
but at the same time.
I love helping other people andbeing in the weeds and knowing
this, I'm not talking from apulpit.
I'm not, I don't have theslickest.
And here's the thing, I'm notthe best looking guy.
(29:36):
I know that's a shocker'causeyou guys are looking at this
fabulous bald head wouldprobably say otherwise.
Yes.
Look at that bald head.
But so I'm not the mostattractive guy.
I still have here, I'm not themost well spoken guy.
I don't have the fanciest socialmedia, but.
I have really solid advice and Ithink that's sometimes where we
(29:58):
get caught up in slick socialmedia campaigns.
If I pulled up, and I took someroads and got all bulked up and
looked really big and, did thegun show and I pulled up my big
four wheel drive truck andjumped out and did some sort of
fancy commercial on, coachingand how it should be and that
I'm the coach for you becauseI've got all these
(30:18):
qualifications that have nothingto do with chiropractic.
Because I find this funny, don'twe see, in a lot of cases,
chiropractors get all excited tosee somebody that doesn't give
two craps about chiropractic.
They stand up on a big stagesomewhere because they got paid
to be there.
Rah rahing you about how greatyou are as a natural healer, as
(30:40):
a chiropractor, and they'venever even been to a
chiropractor.
Dr. Michael Perusich (30:44):
Avoid, avoid vague motivators.
I think that's another one thatwe sometimes get attracted to,
and that's.
Almost never a good coach foryou.
Yeah.
I mean it's just, it's vaguepraise.
And you go and we see that.
Yeah.
And you go and you get motivatedon a Saturday and by Monday it's
gone.
What are you gonna go back andimplement?
(31:05):
Oh, I heard this great one linerthat really got me go by Monday.
It's gone.
You have nothing from what youjust went to and paid big money
for.
There's nothing there.
If
Dr. Troy Fox (31:15):
you wanna listen to a motivational speaker, get
on YouTube.
Deepak loved hearing him back inthe day.
Yeah.
Super cool to listen to him, butdid he do anything for my
practice?
Absolutely.
Zero.
Dr. Michael Perusich (31:26):
No.
And we throw, and, somemotivation's fine.
We throw a little bit into someof our seminars but you're there
to get implementable strategiesnot
Dr. Troy Fox (31:35):
right.
Rah
Dr. Michael Perusich (31:36):
rah.
Not to.
Play some loud music and danceon the tables when you walk in.
That's so when you have a coach,
Dr. Troy Fox (31:42):
you don't want somebody that's gonna dance in
front of you with sunglasses on.
They can do some dancing.
I'm not a very good dancer.
So you wouldn't like it much?
Yeah, I'm not doing it.
I'd honestly, I would rathergive you meat and potatoes.
I'd rather be like, Hey, we gota lot of ground to cover today.
Let's get into it.
Dr. Michael Perusich (31:58):
Let's go, let's dive in from the first
minute.
And, the other thing I thinkabout a good coach is somebody
that's willing to call you outand keep you accountable.
Say, Hey, your fee strategy isall jacked up.
Hey, your retention is terrible.
We gotta fix this.
We gotta figure out where theproblem is.
We gotta fix this, or you'regoing down the tubes.
(32:19):
That's what coaching really isall about, is finding those
problems and helping you createa strategy and then holding you
accountable to that strategyuntil the issue is overcome.
Dr. Troy Fox (32:33):
I think that's and that's one big one for you guys
too.
From a, from an acceptingcoaching standpoint, I like to
talk to clients up front andsay, are you willing to hear
what's not great?
And what is great about yourpractice?
Because I'm gonna tell you both,I'm not here to sugarcoat this.
If there's something that needsto be worked on, I'm gonna tell
you.
It's not it, I'm not impugningyou when I say that.
(32:55):
No, we're not judgmental.
What I am saying is that I wantyou to be better.
It's no different.
If Michael Jordan's jump shotwith was off a little bit and I
was his coach, I'm not gonna go,Michael, I don't really wanna
say anything.
'cause you're way better at thejump shot than I am.
No, I'm gonna say, dude, here'swhat's going on, and we're gonna
have you ready to win the NBAchampionship.
(33:17):
And that's really where we comefrom, is like, been there, done
that made mistakes.
Sometimes had to figure my ownway out of'em because I didn't
have somebody that had the vastknowledge of coaching experience
that you and I have.
Yeah.
And that Alex and Kelly havewhen they're working with us as
well, and
Dr. Michael Perusich (33:33):
Marissa.
Dr. Troy Fox (33:34):
Yeah.
And Marissa from a standpoint ofstaff, here's the thing.
It takes four of us doctors tobe coaches.
Have we ever figured out why itonly takes one?
Marissa?
She's superwoman, we're gonnagive her credit there.
But Yeah, but she has Bridgetteas backup too.
She does.
Yeah.
Bridgette will help her out too.
That's the thing is we'reworking with staff and with
(33:55):
doctors too.
So the coaching goes beyond morejust you.
Yes, we want to get in your headand know what's going on, but I
wanna know what your staff's upto.
'cause guess what?
They can run or supercharge apractice in a matter of days.
Dr. Michael Perusich (34:11):
Oh yeah.
In a matter of days.
Yeah.
I've seen staff take a businessdown in a week completely.
So here's the thing, we startedthis off talking about the right
mindset to have a good businesscoach in your practice, and the
fact that there's this wrongmindset, inaccurate mindset in
the profession about what goodbusiness coaching is all about.
(34:32):
So we, we have to create alittle bit of a mind shift to
understand this.
And I wrote a couple things downhere.
If we think coaching is anexpense thinking will keep you
stuck in survival mode.
Investors, you have to, we haveto understand this.
Investors build empires.
Technicians stay on the grind.
Coaching should shift yourmindset from stinking thinking
(34:57):
to becoming a CEO.
And that's really where you needto be, is you need to be the CEO
of your practice.
And don't be afraid of coaching.
Give us a call.
Let's talk about your practice.
Let's see where you're at.
Let's see if we're a good fitfor each other.
We don't accept everybody intoour program because our clients
are like family.
And we not only are yourcoaches, but we become your
(35:18):
friends too.
And that's why so many of ouramazing clients, they with us
for years.
And it's because not only arethey seeing great results.
But we really are like a familyand constantly working for our
clients to make sure you havethe information that's not only
implementable, but it's today'sinformation.
(35:39):
It's not something we did 20years ago that worked in our
practice for a minute, that'soutdated today.
Everything we do is fresh.
So look for coaches with thatreal business experience.
And if you're serious aboutgrowth in your practice, I.
Invest in it.
Invest like you're serious.
(35:59):
And coaching is an investmentbecause it's gonna help you grow
your practice.
So don't wait till you're inburnout mode and you realize
your practice is going down inflames.
Scale now.
Why not?
So get off your duff.
Quit thinking you've got thegreatest practice in the world.
And you may, but do you reallyknow if it is?
(36:21):
Troy, anything to add?
Dr. Troy Fox (36:24):
I think that we've covered some pretty good ground
today and I would just say ifyou wander at all what we can
offer you, we have a freeservice.
I.
I'm not gonna talk to youbecause I don't want to, but Dr.
Perus will.
Yeah.
Per Marissa or I, yeah.
Dr.
Perus and Marissa will talk toyou first and see if we're a
(36:46):
fit.
They're also gonna find out alittle bit about your practice.
So it's a it's a breakthroughcall.
Basically to find out what'sgoing on with your practice.
And if you get on our Cat'sconsulting website, it's in the
upper right hand corner,correct?
Correct.
You can get on Dr.
Peru's calendar and you canschedule that breakthrough call,
and when you charge for that.
Dr. Michael Perusich (37:07):
There's no charge.
We do it because I, we'rechiropractors just like you, and
we want you to be successfuljust like we have been.
Yep.
And so when you jump, if youjump on my calendar just make
sure to jot down a couple littlenotes about, what do you want to
talk about, what's going on inyour practice and where you
think you need to be.
So jump on there.
Kats consultants.com.
There's also a bunch of freedownloads on there.
(37:28):
In fact, we just uploaded somenew ones.
So go check it out.
Most of all, we appreciate youguys out there listening to the
KC ChiroPulse podcast.
We're growing like crazy andit's'cause of you guys.
So and subscribe wherever it ison here, and subscribe and tell
everybody about it and make sureyou tune in every week.
Troy, good to see you.
Thanks for being here today.
Yep.
Fantastic.
(37:49):
Alright everybody, on behalf ofall of us at Kats Consultants
and we appreciate Chiro HealthUSA being one of our sponsors as
well.
From all of us here, we'll seeyou next time.
See you.
Alright doctors, do you know what the
big misconception is in ourprofession?
Hi everybody.
Welcome to the KC ChiroPulsePodcast, brought to you by Kats
Consultants and Chiro HealthUSA.
This is the podcast of no flufffor chiropractors who are done
playing small and ready todominate their markets.
(00:31):
Are you ready, Troy?
I.
I'm ready.
That got me excited.
I know, right?
All right.
I know.
So everybody out there, if youhaven't tuned in before, this is
Dr.
Tory Fox.
I'm Dr.
Michael Perusich.
We're your host for today.
And I really wanna talk aboutthis topic that I think is the
biggest misconception in ourprofession.
'cause I wanna get real on thisfor just a minute, and that is
(00:52):
the idea that good businesscoaching.
For your practice is nothingmore than an expense rather than
an investment.
Ready go.
I think we can run with thisone.
I just think that's the wrongmindset completely.
Dr. Troy Fox (01:10):
I think it's the same, it's the same mindset
that, and I'll give twoexamples.
One boards, how many of you tooklike an Irene Gold or something
like that?
I think Irene Gold's stillaround.
So did I.
That was an insurance policy forsuccess.
It was a great insurance policyfor success.
It was just in case.
It was just in case.
Now, here's the other thing.
(01:32):
You know how many, and you canname it for me, I'll give you a
few seconds to answer thisquestion.
How many NFL teams right now inthe league are operating without
a head coach during season?
None that I'm aware of.
Why?
Couldn't.
They're all good footballplayers.
They've all been coached before.
(01:54):
They know how to play football,right?
Why do they need a coach?
Dr. Michael Perusich (01:57):
They need somebody to, is it just for
somebody hold it all, alltogether and give oversight and
they don't just have one coach?
No.
Yeah, they got multiple.
Yeah.
What was it, Michael?
Michael Jordan always said he gagave all of his success to his
coaches.
Notice it's plural.
He had nine coaches.
To help him be great.
Nine coaches,
Dr. Troy Fox (02:19):
and this is a guy that's considered there's the
LeBron argument, which I for youthat for those of you that think
LeBron's better than Michael,come on now.
Come on.
Let's be real.
Michael's the goat, but here'sthe deal.
I.
This is the guy that wasarguably probably the best or
one of the two best basketballplayers.
(02:40):
Or if you say there's a coupleothers, I like Larry Bird.
Larry was menacing.
Yeah, he was good.
So let's say he's in top five.
Okay?
Top five basketball players ofall times, maybe the greatest of
all time.
He still needs nine coaches.
Come on now.
Know, right?
He should able do this on hisown at this point.
What kind of crutch is that
Dr. Michael Perusich (02:58):
to need a coach?
So it's really a, just, it's amindset problem.
It's just a big lie.
It is that good businesscoaching isn't gonna help you in
some way somehow because he,here's how you have to look at
it, in my opinion.
If a good business coach, andI'm just gonna make up some
numbers, charges you a thousanddollars a month.
Okay, now that might sound likea lot.
(03:19):
A thousand dollars.
How many patients do I have tosee to.
Get a thousand dollars in theclinic, that's the wrong mindset
because that thousand dollarsyou're gonna pay to the coach
should be turning your practiceinto an extra$10,000 in
collections.
Now, if I told you I had aninvestment that you could invest
in a thousand dollars in everymonth, it's gonna pay you
(03:40):
10,000.
So by the end of the year, it'spaid you a hundred thousand
dollars on a$1,000 investment.
I Are you telling me youwouldn't do that?
Of course you would.
Dr. Troy Fox (03:53):
I would.
But here's, I'm gonna throw out,I'm gonna be devil's advocate
and you're gonna answer thisquestion.
So here's what we hearsometimes.
You're just gonna give me somegimmick that's gonna get new
patients in the door, right?
I can go online and figure outhow to get 20 new patients, or I
get emails every day for how toget new patients in the front
door.
Isn't that what, isn't that whatcoaching does in chiropractic?
(04:14):
It's just a marketing gimmick.
No,
Dr. Michael Perusich (04:17):
that's the wrong mindset.
We started this off saying, goodbusiness coaching, not marketing
schemes, not motivation, notgood tried and true business
principles, coaching andconsulting.
That's what we're talking abouttoday.
That's what is a good investmentand all the top practices in the
(04:37):
country have good businessconsultants behind them.
Dr. Troy Fox (04:43):
They also are not just focused on two numbers.
You know the big number back inthe day.
There were three numbers.
I was gonna say it.
Three numbers, I'm gonna say it.
New patient
Dr. Michael Perusic (04:52):
chalkboard.
Dr. Troy Fox (04:54):
Total visits.
Okay, what's the last one?
PV and PVA.
Oh, patient.
Patient visit.
You know that PVA, that patientvisit average, which can be
manipulated by the number ofnew, just lower your new
patients, lower your newpatients, and your pva VA goes
roof goes up automaticallythrough the roof.
So it's the dumbest statisticunless.
(05:17):
You can compare likewise,months, you could compare PVA
and likewise months.
Maybe there's a way to do that,but that's a really horrible
statistic to use.
But that's what people heard.
And quite frankly,chiropractors, I think you guys
are stuck.
And I don't mean this in a badway'cause I think some people
got a bad taste in their mouth15, 20 years ago by some
(05:38):
coaching that wasn't scrupulous.
I say it, there was someunscrupulous coaches out there,
little un, that were literallycharging an arm and a leg and
all they were telling you is youget your PVA up.
And I dealt with some of thosegroups.
Yep.
Because I was searching, and Ihad.
A solid coaching setup here withKats at the time, and I was a
(06:03):
client at the time, but yet Iwas searching for something
else, and so I jumped ship and Ifound out just how bad it could
be, and we've taken that conceptand improved upon it.
How many metrics do you look atwhen you look at.
A clinic stats at this point.
(06:23):
Obviously we look at how manynew patients, how many visits,
but how many numbers are youlooking at?
Dr. Michael Perusich (06:29):
We look at 40 KPIs, and then we look at, I
think it's a dozen trendingcharts.
So basically 52 different setsof data.
Dr. Troy Fox (06:41):
That's amazing and you can because of that, or we
can identify almost immediatelywhen we get some trending and we
like if you're a client of ours,we want you to send us numbers
because what it does is you havea data-driven practice then.
What I don't mean is you need toget your PVA up to 60.
(07:01):
What I do mean is we can look atyour data and we can look at the
trends that are going in yourpractice over time.
Not a month to month or a yearto year, but just literally we
can go this year to date, tothis year to date.
We can look at overall trendsand how you were sitting here
and now you're okay.
Why is that?
And we can identify in a lot ofcases, in a matter of minutes.
(07:25):
What's going on with yourpractice and where your bucket
has got a big hole?
Yep.
Because in a lot of cases,that's where it is.
You either A, just goes upquick, you either A, don't have
an open opening into the bucket.
You've got it closed.
That's no new patients, right?
You're completely not gettingany new patients or you have a
hole in the bucket.
(07:45):
In most cases, you have a holein the bucket.
Most of you're getting newpatients.
Maybe you need a little helpwith it, but that's really not
our focus.
Our focus from a coachingstandpoint is good business
practices and what do we lookat?
Do we look at and here's theother chalkboard moment.
Is when we go to stateassociations, what do people
always say?
How many new patients did yousee last month?
(08:06):
How many visits did see you?
See, and you know what I used todo that and people, and the
thing is, when you have a bigpractice, people wanna know what
you did.
They wanna know how many newpatients you saw and how many
visits you had.
But then once they hear it.
I think in some cases it, it'salmost like they're planning
your demise.
The second they hear it, they'relike, that's not fair.
(08:28):
I should have that.
And I think we do that sometimeswhere we compare ourselves, we
compare too much because here'sthe thing, you know what?
I could see 1500 patient visitsin a month and be less
profitable than you are at 800patient visits a month.
Dr. Michael Perusic (08:45):
Absolutely.
We see that all the time.
Go ahead, but I Hold thatthought.
Hold that thought for just asecond.
'cause I know where you'regoing.
We gotta take a break.
I'm getting, I'm about to getthe hook here.
So we're we're talking about thevalue of a good business coach
for your practice.
So you're listening to the KCChiroPulse podcast.
(09:06):
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Dr. Michael Perusich (10:21):
Okay, we are back.
We're talking about the value agood business coach brings to
your practice.
And Troy, I'm gonna let youfinish your thought that you had
before the break.
Dr. Troy Fox (10:29):
Yeah.
So I was talking about thedifference.
It doesn't matter how manypatients you see a month or a
week No.
Or a day.
What matters is, as a business,what's your margin?
Yeah.
What are your margins on that,on those patients?
If I have a 40% margin, I.
On every patient that I seebecause I run efficiently, I
(10:49):
have sourced materialsefficiently, products, material
or products efficiently, andI've got a 40% margin and you're
running at a 5% margin.
You have to see a heck of a lotmore patients in a month's time
and put a lot more wear and tearon your body to achieve the same
dollar amount coming in the doorand staying with you.
Dr. Michael Perusich (11:10):
So instead of.
If your collections are yourservices are 50,000.
Your, let's say your collectionsare 50,000, but your expenses
are 70,000, you're bankrupt.
Now you got a big problem.
You can walk around your stateassociation meeting saying, I
collect$50,000 a month, butlet's talk profit margin.
(11:33):
That's what I want to know.
What's your profit margin?
Do you even know what it is?
Do you even have one?
Lot of people don't.
I think that's, I think that's.
Where good coaching steps in, asa doctor, Troy you're still in
practice and when I was inpractice it's hard to, it's hard
to focus on patient care and thebusiness and so good business
(11:54):
coach comes in and helps youfocus on the business side
without you having to spend alot more time doing it.
And they, they bring in realstrategy, not just.
Theory or not, just well trythis, or my buddy down the
street doing this.
So I think I'll see what thatdoes in my practice that isn't
gonna work.
And good coaches bring insystems that help you drive
(12:16):
profitability.
They help you set a correct feestrategy.
They, I.
Provide training and developmentfor you and your team, which I
mean that right there is a gamechanger.
And they give youaccountability.
We all need accountability.
We go back to Michael Jordan forjust a second.
The guy had nine coaches.
Do you think they, those ninecoaches just always placated him
(12:38):
and said, oh, Michael, you'realready the greatest.
I don't really need to do much.
No, they drove him to be greaterand greater.
That's accountability, and weall need that accountability to
keep us driven.
Dr. Troy Fox (12:50):
Yeah, you'll just coast otherwise.
And that's one thing I see withpeople that come to us sometimes
that already have a greatpractice.
What would you have to offer me?
In a lot of cases, we're gonnapush you because you already
have a great practice and youwant more.
Let's say you come to us andyou're barely scraping the
treetops.
We may have some work to do.
(13:11):
And the thing is, you reallydon't wanna wait until your nose
down in the treetops alreadybecause people come to us
sometimes with that type ofsituation and they want somehow
for us to pull them up above thetrees, get'em up in the air
again and fly in.
And sometimes there's three,four or five different steps we
have to stepwise walk throughthis.
Yep.
(13:32):
And you're still spiraling inthe trees.
So those are the mostfrustrating ones for me.
When people don't understand.
Why am I not seeing success yet?
I use a really scientific termhere because you're a disaster
and a lot, and the problem is wesee this to where you may be the
best chiropractor I've everseen.
Your adjusted technique isunrivaled, but you've been in a
(13:54):
race to the bottom with yourfees.
You have got profitability,that's almost zero.
Your spending habits areatrocious and you just hired two
more people into your practicethis week when you don't have
the numbers to support it.
But when I ask why, and you buyevery shiny thing that comes by
your front door.
I ask you why you did it?
Because I want my practice togrow and big practices have
(14:18):
bigger staffs and more toys andblah, blah, but bigger practices
that have those came about,those in the proper way.
So there's a lot that we do froma coaching standpoint.
One from experience of workingwith other practices too.
From intuition.
'cause sometimes I'm justlistening to you, sometimes I'm
listening and I'm just sittingback smiling and I'm like.
(14:41):
I know where we're headed withthis.
'cause literally people willcome up to you and go, Hey, do
you have five minutes?
Can I talk to you?
Sure.
Like especially at seminars andthat sort of thing.
And I will listen.
And literally I could probablyfinish your sentences.
Dr. Michael Perusich (14:55):
Yep.
Dr. Troy Fox (14:55):
Because you guys are all making a lot of the same
mistakes that are makingmistakes.
Now, some of you that aren'tmaking mistakes, I listen and
go, oh, here's what I think theycould do to do better.
And I'm usually right about thattoo.
You're usually right about thatas well.
But.
Those are the two types ofpractices we see.
Those that are flourishing, thatcould be that, that aren't
(15:15):
expanded to their full potentialand those that are utilizing 2%
of their potential because theyjust don't know how to operate
in a business environment.
And quite frankly, that's notyour fault.
I'm not gonna fault you.
You didn't go to businessschool, you went to chiropractic
school.
Yeah.
And then unfortunately, what youfound out when you got out is
that you're running a business.
I will say that was a pretty bigslap in the face for me too.
(15:38):
Yeah, and all of sudden all thiscat stuff that I was learning, I
was like, oh crap.
I need to know how to do allthis stuff.
This isn't, there's a lot.
This isn't fantasy anymore.
This is reality in my life.
And I need to do some of thisstuff because we also keep you
abreast of federal law, right?
So we know when there areMedicare changes, we know when
there's insurance changes.
(15:58):
Yep.
We know when there are thingsthat you should or should not be
doing and make you aware.
So those are other things that Ihave to be aware of as well.
I'm no longer just in a bubblepracticing by myself anymore.
Dr. Michael Perusich (16:11):
So well the value of coaching, I, I
always say this, the proof is inthe numbers.
Practices that have goodbusiness coaches, they have
higher collections, they havelower overhead.
They're utilizing their profitcenters correctly.
Their fee strategies are setwell, they're retaining.
Patients better.
They're, they've got the rightflow of new patients.
(16:31):
'cause there's a right flow anda wrong flow.
And I'm not gonna go into thatin too much detail, but it's
kinda like capacity and you canreally screw your practice up if
you're doing that wrong.
And you're not having to guessabout what to do, we didn't
become coaches because we didn'thave experience.
We've, we've walked in yourshoes.
We are doctors.
We have owned clinics andpracticed in clinics and still
(16:52):
do, plus we've had businessexperience on top of that real
world business experience.
So there's a lot brought to thetable.
And I'm not trying to toot ourown horn, but we know what the
mistakes are.
We try to not let our clientsmake those same mistakes.
But here's how coaching works.
It's just like being achiropractor.
(17:13):
Okay?
You can be a great chiropractor,you can have the best adjusting
technique, like you said aminute ago in the world.
But if your patients don'tfollow your care plan, what kind
of outcomes do you get?
Not very good ones.
And coaching works the same way,and I hear this from people
sometimes.
Oh, I tried coaching.
It didn't work.
Did you implement what they toldyou to do?
No, I got into it.
It just, it, I don't know, itjust.
(17:35):
It just didn't seem right andI'm not really sure what I was
looking for.
And so I didn't do a lot of thestuff.
I didn't really pay attention.
I didn't show up to the seminarsand the events and my coaching
calls, and then I wondered whymy outcomes weren't good.
Hello?
Hello.
Are you in there?
It's just like your patient whosays, you know what?
I know you told me to come threetimes a week for four weeks, I
(17:56):
think I'll come once every threemonths.
You're gonna get, you're gonnaget lousy results.
So you have to be engaged withyour coach and your consultants
in order for it to work.
They put out the information andyour coaching calls and all
those things for you for areason, because it's part of
your plan.
(18:16):
So you gotta follow your plan,and if you quit or give up,
guess what?
Your results will look just likeyour patients who quit care.
Dr. Troy Fox (18:25):
Here's what's even worse in chiropractic is you
guys will pay for a result, butnever engage to get the result.
I.
I've seen that so many timeswhere you pay, that's a good way
to
Dr. Michael Perusich (18:36):
put it.
Dr. Troy Fox (18:36):
You're paying a consultant to work with you.
We tell you what to do, and yougo, okay.
And then you go back in andstart seeing patients again and
you never do any of it.
And then you go, I don't knowwhy I'm not doing any better.
But literally you're paying themoney every month, assuming that
just.
Making that payment should makeyour practice grow.
And it's honestly, it's such adisconnect that it's it's almost
(18:57):
funny and I know if you'relistening, you're going that's
weird.
People do it all the time.
You know what, I've done it.
I've done it, I've beendisconnected, and I'm paying
that monthly payment thinking,huh?
You guys do it with notesoftware too, by the way.
You think that it's gonna helpyour notes and fix your notes if
you buy a note software and thenyour notes still suck even
though you bought the notesoftware and you don't even, and
(19:18):
it still takes you just as long
Dr. Michael Perusich (19:19):
to do a note.
Dr. Troy Fox (19:20):
Exactly, and you don't even understand all the
features on the new notessoftware, but you thought by
making that monthly payment,that three year commitment to
it, that it was gonna fix allyour problems.
So honestly, we do that a lotjust as humans.
We wish we could buy our way outof things
Dr. Michael Perusich (19:35):
and we can't.
Yeah.
And the, that's, and wementioned this at the outset,
that, there's a lot of gimmickystuff out there.
Oh, yeah.
And it, it looks shiny andpretty and, I'll be honest, good
business consulting looks prettyboring.
Yeah.
But it's inside that can ofwhere the nuts and bolts are.
That the real value is and howmany of us have been snakebit by
these gimmicky things that areout there.
(19:56):
I'm not gonna point any fingers,I see doctors spend big money on
marketing plans to wind upgetting the same number of
patients they've always gotten.
Dr. Troy Fox (20:04):
And I'm gonna be, I'm gonna be really brutally
honest and say that some of whatwe see out there even right now
is.
The same turd with a differentwrapper on it.
And I hate to say that, but it'strue.
We're seeing some of the samestuff being told to people and
some of it's dangerous to yourpractice.
Yeah, it is.
Here's what we do that'sdifferent.
(20:25):
And I'm gonna set us apart.
We've been doing this for awhile and Dr.
Perus and I both said at theoutset that when we did this, we
wanted to do it with integrity.
We wanted to do it with apurpose.
We wanted it to be.
And for us we really wanted thisto be driven by God.
And yep.
That's our principles as westart this.
(20:46):
But when it comes to youcoaching, we wanted to keep it
small.
So we don't need, I don't want aconference room in a Marriott
hotel full of people.
I really don't.
Dr. Michael Perusich (20:55):
Yeah.
I don't want 500 people
Dr. Troy Fox (20:56):
around.
That's no what I want a smallgroup store where we can work
together and we can collaborate.
And so when we have.
When we have times that we gettogether, we keep those groups
small enough that I could stilltell you every one of your names
and I'll walk out and talk withyou while we're there.
We're gonna have time tocollaborate with each other
(21:19):
while you're there.
We're also going to haveone-on-one time with coaching,
which that one you expected.
We're also, when we do some ofour seminars, we will do'em
virtually.
You'll be there and able to chatand ask questions directly from
us in the middle of the seminar.
I mean without the expense ofhaving to travel.
(21:39):
No travel.
We're a hundred percentaccessible and we're available
after the fact as well.
You have more questions.
Email us after the fact we'regonna get with you.
But we focus and thrive on asmaller nuclear family of people
that we're working with.
We do that for a reason becausewe give you exactly what we
said.
I know everybody said, oh, it'san individualized approach to
(22:01):
coaching or.
Or whatever you want to call it,consulting, coaching whatever
they call it in the industry.
But when we are coaching you, wereally are doing an
individualized effort with yourpractice.
That's not cookie cutter.
You're not gonna walk in, I'mgonna go, here's this, and this,
and here's a packet.
Take it when you're done readingit, get back with me.
Dr. Michael Perusich (22:21):
That's not how this works.
It's not how this works.
And there's so many hiddendangers by not having a coach.
You mentioned a huge one aminute ago, compliance.
How many doctors have we talkedto that don't know there's been
HIPAA changes, dangers, or don'tknow what no surprises act is?
Or the myriad of things that wekeep our finger on for our
clients and not just tell them.
(22:44):
There's been a change orsomething new.
We show'em how to utilize it andhow to implement it.
But that's only one of thehidden dangers every year
without a good business coachmeans just more and more lost
revenue.
More and more stuck in thatmentality of, I already know how
to do this, or I've talked to mybuddy who's been in practice
five years longer than me, andthis is what he does.
(23:06):
R read the trade magazines.
Read the the legal magazines,especially the healthcare law
magazines.
And you'll find out about allthe doctors who listen to their
buddy down the street who havegotten in trouble because of
that.
So you, a good coach is gonnatell you what's right and what's
wrong, and keep you frombleeding profits in your
practice because, okay, doc'sout there listening.
(23:28):
How many of you buy a show ofhands?
I can see your hands.
How many, buy a show of handsare a not-for-profit
organization.
That's what I thought.
None of you.
So you've gotta be able tounderstand how to turn a profit
in your practice and goodcoaching.
Just tears the roof off yourpractice and looks down inside
from the top and gives you aview of your practice that you
(23:51):
will never see on your own.
And that's how we hold youaccountable and that's how we
see where to help you.
Dr. Troy Fox (23:57):
I love that.
Tear the roof off and a lookyou'd never,'cause you don't,
'cause you're from the insidelooking out.
Yeah.
You can't see it.
We're the outside.
We're the outside looking infrom 30,000 feet and quite, and
then we come down at eye levelwith you.
I.
Work with you.
And that's where sometimes andI've said this before and I'll
say it again, that's wheresometimes we get organizations
(24:19):
out there that say they'rereally poor, personalized, but
they never make it past the30,000 foot view.
Oh, you're a chiropractor, youneed more new patients.
Your PVAs not where it needs tobe.
Here's some materials to workon.
And here's what I want you to dobetween now and next time I see
you, that's as far as they get.
We get down in the weeds withyou.
To answer the questions, and Ithink that's what sets us apart.
(24:40):
But I don't think, I don't thinkthat says gee coaching in
general can only be the way thatwe coach.
I think there are other waysabout it, but, I tell people
this same thing when I'm inpractice.
Here's, and here's what I meanby this.
And so you can take what youwant from this, when you're in
practice, is it best to be thelowest cost provider in your
(25:03):
area?
Or is it best to be the bestprovider?
And cost may not be the lowestin the area.
I'm going with number two.
That's where I'm at in mypractice.
That's where I was in mypractice.
I'm not in a, I'm not in a raceto the bottom, but why am I not
in a race to the bottom?
I'm not in a race to the bottombecause I wanna provide a great
service to my patients.
Now, from a coaching standpoint,we could be in a race to the
(25:26):
bottom as well.
We could say, Hey, we're gonnacharge way less than anybody
else, but we're gonna give youway less services.
I think the type of client thatwe entertain in our group, in,
in Kats is the type of clientthat's a well-rounded client
that wants to improve theirpractice in all aspects.
And they want us to triage, whatdo we need to work on first?
(25:48):
And so what we do is we gettogether with you.
And we get, we, we basically doa triage session where you give
us kind of the 30,000 footoverview of what my practice is.
What does it look like?
I've got two locations, threedoctors, five staff, or I've got
one location.
I'm the only doctor and I've gotone staff who's my wife.
I mean it, it doesn't matter.
Dr. Michael Perusich (26:09):
It doesn't matter.
You
Dr. Troy Fox (26:10):
tell us what's going on.
Here are the biggest things thatI encounter in my practice and
my biggest concerns in practice,and here are my fears.
I'm noncompliant, I'm this, I'mthat.
I don't Your goals too.
Yeah.
And then we wanna look at yourgoals as well.
So we look at all those thingsand then we put a plan together
for you.
And that is what sets the cat.
(26:33):
Experience apart, because I'vebeen to other, I've been to the
large ones where you sit in abigger room and yes, you're
gonna get a personal phone call,you're, but we're gonna go
through, what are we gonna gothrough?
It's the laundry list for thatweek.
Hey, let's make sure this weekthat we're talking to all of our
clients about blah, blah, blah.
Is that personalized or is thatacross the board something that
(26:53):
needs to be addressed?
Maybe I've already addressedthat.
Okay.
Then you're good till next week.
Am I still paying X number ofdollars a month for this
service?
I want meat on the bone everytime I talk.
In other words, how's mypractice doing or what am I
doing?
I don't want the cookie cutter,here's what we're working on
this week thing.
So that's, I don't even know howto do that works now.
(27:14):
I wouldn't.
Dr. Michael Perusich (27:15):
Hey, we need to take another quick
break.
So when we come back, I want totalk about how to choose the
right coach.
And I got a couple otherthoughts too, so I'm sure you do
as well.
We're talking about the value ofgood business coaching in your
practice.
We're gonna take a quick break.
We'll be right back.
Kats Consultants (27:33):
Kats Chiropractic consultants, your
partner in chiropractic success.
We are dedicated with one-on-oneguidance to bring you all your
practice management needs.
Let's supercharge your practice.
Give us a call today.
Dr. Michael Perusich (28:00):
All right everybody.
Welcome back to the KCChiroPulse Podcast.
We are talking about bringing ina good business coach for your
practice.
Emphasis on good there.
Troy, want to, I want to banneraround here for just a minute.
What it looks like or how do youfind the right coach?
And I think personally, one ofthe most important things is do
(28:21):
they have business experience?
Where is their experience from?
Did they fail and practice anddecided to just throw a coaching
plaque out on the front doorand.
May, maybe I can tell doctorshow to run a practice better
than mine.
Or do they actually have realexperience in running a clinic,
running a successful clinic,maybe multiple clinics.
(28:44):
Business experience outside ofchiropractic.
I think those are some of thereally important things to look
for.
Dr. Troy Fox (28:51):
Well, a little gray hair doesn't hurt.
Because that does that, thatusually signifies some
experience, but not always.
But I would agree with you.
We see in a lot of cases peoplethat are consulting or coaching
other people.
That don't really have theexperience.
And that's where you and I havetalked about many times.
Having successful practices andhaving really been there, done
(29:14):
that, and I'm still right in theweeds right now and probably
will be for another 10 or 11years.
God willing and my health holdsout because I love what I do,
but at the same time.
I love helping other people andbeing in the weeds and knowing
this, I'm not talking from apulpit.
I'm not, I don't have theslickest.
And here's the thing, I'm notthe best looking guy.
(29:36):
I know that's a shocker'causeyou guys are looking at this
fabulous bald head wouldprobably say otherwise.
Yes.
Look at that bald head.
But so I'm not the mostattractive guy.
I still have here, I'm not themost well spoken guy.
I don't have the fanciest socialmedia, but.
I have really solid advice and Ithink that's sometimes where we
(29:58):
get caught up in slick socialmedia campaigns.
If I pulled up, and I took someroads and got all bulked up and
looked really big and, did thegun show and I pulled up my big
four wheel drive truck andjumped out and did some sort of
fancy commercial on, coachingand how it should be and that
I'm the coach for you becauseI've got all these
(30:18):
qualifications that have nothingto do with chiropractic.
Because I find this funny, don'twe see, in a lot of cases,
chiropractors get all excited tosee somebody that doesn't give
two craps about chiropractic.
They stand up on a big stagesomewhere because they got paid
to be there.
Rah rahing you about how greatyou are as a natural healer, as
(30:40):
a chiropractor, and they'venever even been to a
chiropractor.
Dr. Michael Perusich (30:44):
Avoid, avoid vague motivators.
I think that's another one thatwe sometimes get attracted to,
and that's.
Almost never a good coach foryou.
Yeah.
I mean it's just, it's vaguepraise.
And you go and we see that.
Yeah.
And you go and you get motivatedon a Saturday and by Monday it's
gone.
What are you gonna go back andimplement?
(31:05):
Oh, I heard this great one linerthat really got me go by Monday.
It's gone.
You have nothing from what youjust went to and paid big money
for.
There's nothing there.
If
Dr. Troy Fox (31:15):
you wanna listen to a motivational speaker, get
on YouTube.
Deepak loved hearing him back inthe day.
Yeah.
Super cool to listen to him, butdid he do anything for my
practice?
Absolutely.
Zero.
Dr. Michael Perusich (31:26):
No.
And we throw, and, somemotivation's fine.
We throw a little bit into someof our seminars but you're there
to get implementable strategiesnot
Dr. Troy Fox (31:35):
right.
Rah
Dr. Michael Perusich (31:36):
rah.
Not to.
Play some loud music and danceon the tables when you walk in.
That's so when you have a coach,
Dr. Troy Fox (31:42):
you don't want somebody that's gonna dance in
front of you with sunglasses on.
They can do some dancing.
I'm not a very good dancer.
So you wouldn't like it much?
Yeah, I'm not doing it.
I'd honestly, I would rathergive you meat and potatoes.
I'd rather be like, Hey, we gota lot of ground to cover today.
Let's get into it.
Dr. Michael Perusich (31:58):
Let's go, let's dive in from the first
minute.
And, the other thing I thinkabout a good coach is somebody
that's willing to call you outand keep you accountable.
Say, Hey, your fee strategy isall jacked up.
Hey, your retention is terrible.
We gotta fix this.
We gotta figure out where theproblem is.
We gotta fix this, or you'regoing down the tubes.
(32:19):
That's what coaching really isall about, is finding those
problems and helping you createa strategy and then holding you
accountable to that strategyuntil the issue is overcome.
Dr. Troy Fox (32:33):
I think that's and that's one big one for you guys
too.
From a, from an acceptingcoaching standpoint, I like to
talk to clients up front andsay, are you willing to hear
what's not great?
And what is great about yourpractice?
Because I'm gonna tell you both,I'm not here to sugarcoat this.
If there's something that needsto be worked on, I'm gonna tell
you.
It's not it, I'm not impugningyou when I say that.
(32:55):
No, we're not judgmental.
What I am saying is that I wantyou to be better.
It's no different.
If Michael Jordan's jump shotwith was off a little bit and I
was his coach, I'm not gonna go,Michael, I don't really wanna
say anything.
'cause you're way better at thejump shot than I am.
No, I'm gonna say, dude, here'swhat's going on, and we're gonna
have you ready to win the NBAchampionship.
(33:17):
And that's really where we comefrom, is like, been there, done
that made mistakes.
Sometimes had to figure my ownway out of'em because I didn't
have somebody that had the vastknowledge of coaching experience
that you and I have.
Yeah.
And that Alex and Kelly havewhen they're working with us as
well, and
Dr. Michael Perusich (33:33):
Marissa.
Dr. Troy Fox (33:34):
Yeah.
And Marissa from a standpoint ofstaff, here's the thing.
It takes four of us doctors tobe coaches.
Have we ever figured out why itonly takes one?
Marissa?
She's superwoman, we're gonnagive her credit there.
But Yeah, but she has Bridgetteas backup too.
She does.
Yeah.
Bridgette will help her out too.
That's the thing is we'reworking with staff and with
(33:55):
doctors too.
So the coaching goes beyond morejust you.
Yes, we want to get in your headand know what's going on, but I
wanna know what your staff's upto.
'cause guess what?
They can run or supercharge apractice in a matter of days.
Dr. Michael Perusich (34:11):
Oh yeah.
In a matter of days.
Yeah.
I've seen staff take a businessdown in a week completely.
So here's the thing, we startedthis off talking about the right
mindset to have a good businesscoach in your practice, and the
fact that there's this wrongmindset, inaccurate mindset in
the profession about what goodbusiness coaching is all about.
(34:32):
So we, we have to create alittle bit of a mind shift to
understand this.
And I wrote a couple things downhere.
If we think coaching is anexpense thinking will keep you
stuck in survival mode.
Investors, you have to, we haveto understand this.
Investors build empires.
Technicians stay on the grind.
Coaching should shift yourmindset from stinking thinking
(34:57):
to becoming a CEO.
And that's really where you needto be, is you need to be the CEO
of your practice.
And don't be afraid of coaching.
Give us a call.
Let's talk about your practice.
Let's see where you're at.
Let's see if we're a good fitfor each other.
We don't accept everybody intoour program because our clients
are like family.
And we not only are yourcoaches, but we become your
(35:18):
friends too.
And that's why so many of ouramazing clients, they with us
for years.
And it's because not only arethey seeing great results.
But we really are like a familyand constantly working for our
clients to make sure you havethe information that's not only
implementable, but it's today'sinformation.
(35:39):
It's not something we did 20years ago that worked in our
practice for a minute, that'soutdated today.
Everything we do is fresh.
So look for coaches with thatreal business experience.
And if you're serious aboutgrowth in your practice, I.
Invest in it.
Invest like you're serious.
(35:59):
And coaching is an investmentbecause it's gonna help you grow
your practice.
So don't wait till you're inburnout mode and you realize
your practice is going down inflames.
Scale now.
Why not?
So get off your duff.
Quit thinking you've got thegreatest practice in the world.
And you may, but do you reallyknow if it is?
(36:21):
Troy, anything to add?
Dr. Troy Fox (36:24):
I think that we've covered some pretty good ground
today and I would just say ifyou wander at all what we can
offer you, we have a freeservice.
I.
I'm not gonna talk to youbecause I don't want to, but Dr.
Perus will.
Yeah.
Per Marissa or I, yeah.
Dr.
Perus and Marissa will talk toyou first and see if we're a
(36:46):
fit.
They're also gonna find out alittle bit about your practice.
So it's a it's a breakthroughcall.
Basically to find out what'sgoing on with your practice.
And if you get on our Cat'sconsulting website, it's in the
upper right hand corner,correct?
Correct.
You can get on Dr.
Peru's calendar and you canschedule that breakthrough call,
and when you charge for that.
Dr. Michael Perusich (37:07):
There's no charge.
We do it because I, we'rechiropractors just like you, and
we want you to be successfuljust like we have been.
Yep.
And so when you jump, if youjump on my calendar just make
sure to jot down a couple littlenotes about, what do you want to
talk about, what's going on inyour practice and where you
think you need to be.
So jump on there.
Kats consultants.com.
There's also a bunch of freedownloads on there.
(37:28):
In fact, we just uploaded somenew ones.
So go check it out.
Most of all, we appreciate youguys out there listening to the
KC ChiroPulse podcast.
We're growing like crazy andit's'cause of you guys.
So and subscribe wherever it ison here, and subscribe and tell
everybody about it and make sureyou tune in every week.
Troy, good to see you.
Thanks for being here today.
Yep.
Fantastic.
(37:49):
Alright everybody, on behalf ofall of us at Kats Consultants
and we appreciate Chiro HealthUSA being one of our sponsors as
well.
From all of us here, we'll seeyou next time.
See you.
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