Working with local high schools & college athletic depts...

I had a discussion this week with an alumnus who is looking for ideas in regard to the above topic.  I told him I would post this on our blog for ideas and suggestions.  Preceptors please ask your docs for their thoughts also.  Thanks...

Hi , Alexis

Thanks again for some of the tips/advice you offered during our phone call.  My question I brought up was relating to what avenues DCs in the field have used to open doors into working with local high schools and colleges athletic departments.  I have a few opportunities in my area with the opportunity to make a proposal to their ADs.  Thanks again in advance for any suggestions you can afford.

Scott Cichosz DC

Budgeting & Record Keeping

Class 113 -
This week's theme was "Keep the End in Mind" - which comes from the Covey - 7 Habits book..  Financial Statements, tax returns, as well as other management reports are your end product.  Looking at these first can help you lay out your general ledger and accounting software to save time in tracking this particular informantion. There is nothing more frustrating than picking apart numbers to complete forms...i.e. tax returns, financial statements, loan applications.

Keeping the end in mind is also relative to management reports. I have upload 3 samples that I shared in class. The three reports display very different information from the same data. You will want to familarize yourself with reading and understanding these types of management reports. Variances will alert you to positive or negative aspects of your financial picture. It is important to take advantage of these indicators and make adjustments as needed in a timely manner.

This week's discussion is:
What software have you looked at and compared? What are your precept docs using? Pro's and Cons...be detailed. What is important to you in your search for software?
"Odd" teams are up!

Have a great week...your plans should be in their first draft and as the power point says, you should be revising, refining, and rejoicing! Reminder that they are due in hard copy on my desk (not in the mail)(not post marked)(not emailed) by 4pm CST Sept 30th!

Alexis

Revenues and Accounts Receivables

Class 113 - To answer a couple questions brought up in class:
1.  Loopnet and other sites similar - what is their percentage of accuracy?  The answer is:  We have no idea but feel that it must be reasonable or else could not stay active.  Again it is good to gather information from multiple sources for comparison and reasonableness.  Loopnet has an email for questions...so there is a start. Sorry this is not more helpful.
2.  Is it legal to contact other chiropractors to see what they are charging for services so as to help in deciding how much to charge for your own services? Yes.  That is fine.  Where is become illegal is when a group makes an agreement that they will all charge a certain price.  This is price fixing.  This falls under the Sherman Anti-Trust Act of 1890. There is lots of information on price fixing on the web.

This week was the first of a four part series on the financial aspect of your practice.  We discusses revenues and account receivables/collections.  See the class web page for more on that section of the excel spreadsheet.  Discussion revolved on how you plan to differentiate yourself from your competition - chiropractic or other.  Also on how you plan to utilize your marketing dollars into the revenue stream.

Even Teams please comment on:
What will be your competitive advantage(s) and what marketing/advertising/promotion events will you use to achieve your revenue goals during your first year of practice.  Be specific.

Have a great week.  Alexis

Human Resources - Personnel

Class 113 - Thanks to Michelle Walker for her excellent presentation on Human Resource issues - specifically hiring an employee.

This week we are thinking about the professional and hourly staff that we plan to have in our office. Don't forget to take into consideration any outside contractors you plan to use. You will want to keep in mind the hours and days of the week you plan to be open. The template - Page 8, has 3 employees listed but feel free to insert other columns. You will need to change the headings: Employee 1 to a position name - example: front desk am. Your goal is to have your narrative as well as your spreadsheet completed.

"Odd" Teams comment by August 15th.
This week's topics to comment on are:

• what are three interview questions you would use when hiring a front desk person
• what type of services might you use an outside contractor for and
• what are the pros and cons of using an outside contractor - be specific
• what are the pros and cons of using a temp agency.

Have a great homecoming weekend.  Alexis

In response to a website question...

Andrea asked:  I would really like to learn about creating a doctor's profile online on our future clinic website and what to include in that profile.... I know that building a website for our clinic is a vital part of marketing in the world today and that a profile of the doctor can help attract patients or even inspire them to share about chiropractic with others.  

Mike Rekemeyer, a web master responded with the following:Chiropractic Profile

1.    Short(two - three sentences) paragraph about yourself

a.    Where your from

b.    Why chiropractic

2.    Bullet list of education and certifications

a.    Undergrad, activities

b.    Graduate, activities

c.    Outside certifications

3.    Specialties.

This is the one I found easiest to read.

http://livewellkc.com/custom_content/c_110394_meet_the_doctor.html

This is the one I found the hardest to read.

http://www.decorahchiropractor.com/doctor/chiropractor/3L/decorah-chiropractor/meet-dr-perry-numedahl.htm

Palmer Clinic faculty bios page

http://www.palmer.edu/ClinicFaculty/

Thanks Mike.

General Company Description & Operating Plan

Class 113 -
This week in class we discussed the pros and cons of the different legal structures in setting up your business, licensing, insurance & permit requirements. These are all important considerations in deciding where and when you will be opening your door.

More discussion was on picking the location of  your business (Stand alone, strip mall, central city) and the internal layout that will best fit your needs.

The assignment due next week is to write the general business description and operating plan narrative that you will include in your business plan. You can find some guidance as to what you should include in the syllabus as well as the class power point. It is also time to open the financial template in excel. You should start with pages 3,4,5. Keep in mind that what your write in your narrative will have costs associated and you will need to include these costs in the excel template. The banker will be looking for this specifically. Please share your narrative with your team for feedback.

A useful tool in developing this section is to use a SWOT analysis.
SWOT stands for Strengths, Weaknesses, Opportunities and Threats. S & W are internal, O & T are external. This analysis ia also useful when you are setting your goals for your first year of business ans remember - goals need to be quantative, measureable, with the end result in mind.

"Even" Teams comment by August 8th.
This week topic to comment on is:
· what are your top three considerations in regard to picking a location for your office
· how and where did you gather the data needed to write general business description
· compare and contrast a LLC and Subchapter S Corp

Have a great week.  Alexis