Net income from AP / TCM Practise

[Guest guest]

Hi Phil and All,

 

Phil, I have to put my 2 cents in. It may be possible, with the emphasis on

'MAY', to treat 4 people an hour IF you have a receptionist and you are only

treating with acupuncture and only doing one-sided treatments. In my practice,

my partner Sarah and I both treat with acupuncture and herbs, we have a 5:1

powder pharmacy on site. Even with each of us helping the other as needed, we

can only treat 2 per hour and still feel good about the service we are

providing. Now, we do not have a receptionist, so checking people out and

scheduling consumes time we could be treating. Many of our patients get

one-sided treatments, but as needed we also give 2 sided treatments. Also, we

will at times burn moxa, or do cupping or tui na as needed.

 

I guess my point is that 4 an hour becomes running your office like a factory,

good quality service becomes secondary to making money. You are better of

charging the top of what your competition charges and providing the best

possible treatment, everyone is better of that way, as well as the profession as

a whole.

 

Cheers,

Michael O'Brien

Nashua Acupuncture

 

-

Chinese Medicine ;

 

Wednesday, April 27, 2005 1:24 PM

Net income from AP / TCM Practise

 

 

Hi All,

 

I am not trained in business management or accountancy, but here are

a few thoughts on net income from AP / TCM Practice:

 

Net Income = (Gross income) - (Taxes) - (Costs & Overheads).

 

To maximise net income, one must maximise GI, minimise C & O and

minimise taxes.

 

MAXIMISING GROSS INCOME:

GI/week = # of sessions/hour X hours worked/week X session fee

 

Example:

1 session/hour X 25 hours/week X 25$/session = a GI of 625$/week.

One could not live (well) on that in Dublin.

 

4 sessions/hour X 35 hours/week X 40$/session = a GI of 5600$/week

 

Can one be a great practitioner and handle 4 sessions/hour?

 

IMO, yes, if one gets organised, has a central work area with 3-4 private

cubicles off it, and has the clientele.

 

Yes, the first session takes much longer than 20 minutes, but repeat

sessions in that case will take much less time.

 

So the main question is HOW to build up a large cleintele? THAT is

where GOOD CLINICAL RESULTS and shrewd marketing are most

important.

 

IMO, the best marketing / advertisement is by SAFISFIED CLIENTS.

IMO, " word of mouth " brings more clients than other approaches. One

should take time to listen to the clients, educate them in common-sense

TCM princilpes (in which the public has a GREAT interest), discuss

mysticism (sorry, but I believe in Spirit, and MOST of my clients

believe in it also).

 

If is my experience that many people come for an interesting chat and

have acupuncture/massage or other Tx as a bonus to the chat.

 

Talking about AP/ TCM at conventional professional congresses, public

events, a column in the local newsletter, talks to radio / TV programmes,

schools / students / geriatric societies, etc, also keep AP / TCM in the

mind of the public.

 

MINIMISING COSTS & OVERHEADS:

As regards minimising C & O, cut out all unnecessary gadgetry,

expensive couches, glitzy instruments, etc, and employ the minimum of

unproductive co-workers.

 

MINIMISING TAXES:

Our laws allow substantial tax-allowances for necessary overheads,

travel, study, equipment, conferences, etc.

 

Best regards,

Phil

 

PS: I am not in that income league yet. However, when I retire from my

lab job, I will build up my private practice, something along those lines

for humans. I will also visit equine thoroughbred (racing) stables [where

the fee is much more than in humans].

 

 

 

Chinese Herbal Medicine offers various professional services, including board

approved continuing education classes, an annual conference and a free

discussion forum in Chinese Herbal Medicine.

 

 

 

 

 

 

[Guest guest]

Hi All,

 

I am not trained in business management or accountancy, but here are

a few thoughts on net income from AP / TCM Practice:

 

Net Income = (Gross income) - (Taxes) - (Costs & Overheads).

 

To maximise net income, one must maximise GI, minimise C & O and

minimise taxes.

 

MAXIMISING GROSS INCOME:

GI/week = # of sessions/hour X hours worked/week X session fee

 

Example:

1 session/hour X 25 hours/week X 25$/session = a GI of 625$/week.

One could not live (well) on that in Dublin.

 

4 sessions/hour X 35 hours/week X 40$/session = a GI of 5600$/week

 

Can one be a great practitioner and handle 4 sessions/hour?

 

IMO, yes, if one gets organised, has a central work area with 3-4 private

cubicles off it, and has the clientele.

 

Yes, the first session takes much longer than 20 minutes, but repeat

sessions in that case will take much less time.

 

So the main question is HOW to build up a large cleintele? THAT is

where GOOD CLINICAL RESULTS and shrewd marketing are most

important.

 

IMO, the best marketing / advertisement is by SAFISFIED CLIENTS.

IMO, " word of mouth " brings more clients than other approaches. One

should take time to listen to the clients, educate them in common-sense

TCM princilpes (in which the public has a GREAT interest), discuss

mysticism (sorry, but I believe in Spirit, and MOST of my clients

believe in it also).

 

If is my experience that many people come for an interesting chat and

have acupuncture/massage or other Tx as a bonus to the chat.

 

Talking about AP/ TCM at conventional professional congresses, public

events, a column in the local newsletter, talks to radio / TV programmes,

schools / students / geriatric societies, etc, also keep AP / TCM in the

mind of the public.

 

MINIMISING COSTS & OVERHEADS:

As regards minimising C & O, cut out all unnecessary gadgetry,

expensive couches, glitzy instruments, etc, and employ the minimum of

unproductive co-workers.

 

MINIMISING TAXES:

Our laws allow substantial tax-allowances for necessary overheads,

travel, study, equipment, conferences, etc.

 

Best regards,

Phil

 

PS: I am not in that income league yet. However, when I retire from my

lab job, I will build up my private practice, something along those lines

for humans. I will also visit equine thoroughbred (racing) stables [where

the fee is much more than in humans].

[Guest guest]

wrote:

> Hi All,

>

> I am not trained in business management or accountancy, but here are

> a few thoughts on net income from AP / TCM Practice:

>

> Net Income = (Gross income) - (Taxes) - (Costs & Overheads).

>

> To maximise net income, one must maximise GI, minimise C & O and

> minimise taxes.

>

 

Hi Dr. Phil!

 

Yes, I know. I have the costs down and the taxes, obviously, are zero.

But the clientele! The four that I have are *very* satisfied, but four

patients can only do so much word of mouth.

 

One lady who has been seeing me for a long time is a fitness instructor.

She says the people she talks to are too cheap to use any health care

they have to pay for, and they are rich people who spend a lot of money

on other things. If Medicare/insurance doesn't pay they won't take it!

 

Regards,

 

Pete