This topic contains 2 replies, has 3 voices, and was last updated by William Brady, DC April 22, 2020 at 9:32 am.
April 21, 2020 at 10:23 am #9212
Brian Zelasko, DCParticipant
I hope everyone is doing well and finding their way through these trying times.
This post in under the assumption that we all have been hit hard in patient numbers per week, if not shut down all together for a few weeks. I myself have been shut down since March 20th.
I (thankfully) will be resuming normal hours next week.
For the guys that are running a 100% cash based practice:
Are you adjusting your fees or thinking about adjusting your fees either permanently or in the short term in order to help bring patient numbers back up?
For the guys on case fee:
Are you guys adjusting your fees or contracts at this time?
These are just some thoughts running through my mind as I look into to the next few months and taking into account that a large percentage of the population may have less money in order to afford our care.
Thanks guys!April 21, 2020 at 1:21 pm #9213
Eric Lambert, DCParticipant
Thanks for bringing this up Brian. I have had the same thoughts.
I’ve been closed since March 23, only seeing 10 patients this month for “urgent care” due to governor executive order has stated that chiro’s are essential, however can only see “urgent/emergency care patients to sustain life”. Massage is considered non-essential, so Maggie has not been allowed to practice at all this month. This order continues until May 1st, if not after that possibly. I’ve already had patients mention on check up phone calls that finances are a concern.
I’m thankful to have a great bank manager and accountant who got me set up with a PPP loan to help us out the next couple months, as I was not prepared to be closed for 6 + weeks.
We are 100% cash and I’m gonna wait to see how the first couple weeks in May go prior to reducing or modifying rates. I’m hoping that I won’t have to reduce, however can’t rule it out, as I know a lot of people are hurting right now. If we do reduce fees, it will only be $10 or $15 possibly. Really the market will decide if that happen or not.
I’d like to get everyone more opinions on this too.
Thanks for bringing it up and I hope everyone is doing good through all of this as well during this time.April 22, 2020 at 9:32 am #9215
William Brady, DCParticipant
Yes. Tough times for nearly everyone. I would recommend against reducing your fees. It will be nearly impossible to increase them again in a post corona virus world. You will loose a lot of revenue over a long period of time. Instead, I would provide a payment plan option with deferral and installments with zero interest. This can be worked out individually. Put their credit card on file and charge a set amount each week or month until the balance is paid off. You are still helping them get the care they need with out setting yourself up for having to “raise” your price a lot in the near future. Whatever you lower your rates to will instantly be the new normal.
The situation is dynamic and I respect any decision that helps you get through the tough times. Thanks
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