As we emerge from two years of shutdowns, restrictions and a general scrambling of the status quo, many present and past clients have contacted me about relocating their practices. Some of this is due to the radical re-ordering of previously active spaces, such as urban core areas. Some of it is due to the desire to re-set the practice in a new location. A global pause button does not come around all that often, and it may make sense to consider a new chapter in your professional life. Here are some considerations if you are in this group: What are you moving towards, rather than away from? … [Read more...] about Relocating?
With any large scale and rushed sets of actions, there are both intended outcomes and unintended. The unintended can be either a major improvement over the previous circumstances, or just a new set of problems. Our national, state and local response to the COVID infections have generated some of each. From the chiropractic side of things, the vast majority of my clients remained open as a provider of essential services. Most clinics initially ran on a skeleton crew with reduced hours, but not all. Even with the Screening and Cleaning protocols in place, most clinics ran at reasonable … [Read more...] about Unintended Consequences
All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident. -Arthur Schopenhauer Another fun-loving philosopher, bring it on! In our health care arena, we see this sort of thing on an ongoing basis. It can be agonizingly slow, but once that third stage is reached, our standards have changed, and we have a new set of norms. This can be for better or worse, but it does defuse the argumentative side of things. We have seen this in the changing and evolution of the entire medical profession, and with the … [Read more...] about Changing Standards
Buying or selling a practice is something an average chiropractor does rarely, perhaps once or twice in a professional lifetime. Yet, it is a crucial, life-pathway transition. It is by nature a complex and multi-factorial event, and one that requires planning and execution on both sides of the transaction. It’s not possible to outline all of the contingencies in a brief article, but I have outlined several key points for both the buyer and seller to consider: On the seller side: What is my practice worth? There are several “back of the envelope” methods of valuing a practice, but there are … [Read more...] about What you should know about buying and selling a practice