Ep. 31: 2024 Wrapped (Part 2)
SHOWNOTES
In this second part of “2024 Wrapped”, Dr. Mary Frances Duncan and her co-host, Kelsey, discuss challenges faced in 2024, including a significant brand transformation for Million Dollar Chiro, unexpected flooding at their chiropractic practice, and a major disruption in insurance claims processing due to a cyber attack on Change Healthcare. They reflect on the lessons learned from these experiences, emphasizing the importance of financial preparedness and adaptability in the face of unforeseen circumstances. They also discuss various aspects of running a chiropractic business, focusing on financial strategies, scheduling challenges, crisis management, and holiday planning. If you are a chiropractic practice owner, these are definitely highs and lows of the past year that you can relate to!
TAKEAWAYS
- Reflecting on wins helps in recognizing growth and areas for improvement.
- Maintaining a positive attitude is key to overcoming obstacles that practice ownership will bring, and it is so important to be able to pivot and improvise.
- Setting clear goals for 2025 will help in continued growth. 2024 was a challenging year for practice owners.
- Having a cash backup is crucial for when an unexpected crisis arises - in our case, this was useful during Hurricane Helene, unexpected office flooding, and a major insurance claims processing disruption.
- In light of the Change Healthcare cyber attack, Dr. Duncan recommends considering cyber insurance for business protection.
- Plan holiday activities well in advance.
- Teamwork is vital during challenging times.
- Learn from past mistakes to improve future planning.
Are you a chiropractic practice owner wanting to improve your practice, gain guidance on ownership, or increase your revenue? Enroll in our online course or apply for one-on-one coaching with Dr. Duncan!
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