Dr. James R. Fedich, DC Chiropractor, Coach, Speaker, & Podcast Host

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How to Play to your Strength as a Chiropractor

Thursday, March 21, 2019

Determine which areas of your practice require less attention, and where you want to really excel

Read any good books lately? I’m reading a good one right now called Uncommon Service by Frances Frei and Anne Morriss.

The book’s main point is that when it comes to customer service, you cannot be great at everything. In fact, to be the best in one category, you need to be the worst at another. A few examples they offer translate well to the chiropractic industry.

What do customers want you to be best at?

One case study was Commerce Bank. They were the first bank to open on weekends. Why did no one else think of that? But the problem is it costs millions to open all those branches all weekend long. So, how did they do it? They purposely offer the worst return rates on CDs and savings accounts. They make a point to literally have the worst rates in every town. That difference allows them to offer the customer service on the weekend that the customers asked for.

Another great example is Walmart. Think of your average Walmart. Is it the nicest store you ever shopped in? Do they have outstanding employees with great service? Definitely not. What do they have? The lowest prices. They save by having scuffed floors, crummy lighting, not-super-informed employees — but they have the best prices.

Hopefully these examples make you ask yourself about your own practice. What do your customers want you to be best at? On the flip side of that, what can you afford to be worst at? Let’s think about it. If your customers want fast office visits, a quick in-and-out, can you be the greatest soft tissue, ART, Graston technique doc in the country? Probably not.

Or, if you want the best waiting room, a real Ritz-Carlton of a chiropractic clinic, five-star service to boot — can you then have the lowest cash fee in town and take Medicaid? Doubtful. What most of us do is we are mediocre at all these things. Not a five-star waiting room, but not a one-star either. Not the greatest technique chiropractor ever, but pretty good. Not the greatest equipment in the universe, but not the worst. What do we end up with: a mediocre practice, and a mediocre business.

What can you be worst at?

Let’s figure out what your customers and you want to be best at, and then what we can be worst at. If you want to have the best office environment with a Starbucks machine in the waiting room (which we have — definitely worth the investment), a beautiful office and friendly staff, can you also afford to give away free adjustments and charge $12 per visit and take HMO and Medicare? Again, doubtful.

So maybe you offer the greatest customer service and are the most expensive in town. That will work. Or maybe you’re the opposite and take all insurance, charge a low cash fee, and your waiting room may be a bit run-down and your staff mediocre, but you are affordable. That works also. Maybe you’re certified in every technique and the best technical chiropractor on the East Coast, which is great. But then you can’t also be the most convenient, taking walk-ins, last-minute emergencies. Maybe patients have to wait two weeks to get in, and you can only see 15 a day.

These are the decisions you must make based on your type of practice, what your patients want, and what you think the market wants. But to be the best at one thing, you may have to be the worst at another. Being mediocre at all things is a sure way to have a mediocre practice, a mediocre life, and never reach the success you deserve.

James R. Fedich, DC, owns a large multidisciplinary practice in Northern New Jersey. He is also the author of Secrets of A Million Dollar Practice and host of the popular chiropractic podcast, Dr. J’s Path to Success. To find out more or to contact Dr. J, visit drjamesfedich.com.

Source: www.chiroeco.com


Weekly News!

Thursday, March 21, 2019

Hey Doc!

Welcome to this week's update!

This week, I have a great podcast for you! I had the pleasure of interviewing Gavin Baker. Gavin is the Principal at Baker Labs. Baker Labs is a digital marketing company that specializes in healthcare marketing. They have specific tips, advice, and strategy on how to use digital marketing to grow your practice! Gavin gives some great, real-world tips as we chat about marketing your practice in 2019 and beyond.

https://www.drjamesfedich.com/drj-podcast/episode-103-key-tenets-of-digital-marketing-for-the-healthcare-industry

In my solocast episode last week, I talked about your top 5 people. Jim Rohn famously said that you become the average of the five people you spend the most time with. He even goes so far as to say if you average the income of your top 5 people, you will make very close to that income. Here, I share my thoughts on this, as well as how to purposefully upgrade your top 5. I hope this helps.

https://www.drjamesfedich.com/drj-podcast/episode-102-top-5-people

I just launched our Ultimate New Patient Marketing Machine and Toolkit. This is a 6-week course, where I will show you and give you actual examples, pieces and an email to help you add 20 NP a month to your practice. This is going to be launched soon, but you can get it as a pre-launch here and save. If you can get JUST ONE MORE NEW PATIENT, the program MORE than pays for it. Check it out:

https://www.chiropracticsuccessstore.com/ultimate-new-patient-marketing-machine-and-toolkit

Dr J


Top 5 People

Thursday, March 14, 2019

Hey Doc!

Welcome to this week's update!

This week my solocast is about your Top 5 People. Jim Rohn famously said, "You become the sum of the five people you spend the most time with". He goes into great detail about this in several of his books and speeches. He further expounds that if you take the average income of the five people you spend the most time with, that will be your income. It's important to evaluate your inner circle and see if someone needs to come out. It's also the reason why it's important to work with proven mentors to upgrade this inner circle. Listen here:

https://www.drjamesfedich.com/drj-podcast/episode-102-top-5-people

Speaking of mentors, I am starting something new with a good friend and fellow coach, Tony Palermo. We are showing you how to use the mastermind principle to grow your practice. Please attend our upcoming Free Webinar to learn more. Click here

https://www.accelerateinnercircle.com

Last episode, I interviewed Matt Bertram. Matt is an inbound marketing specialist. We both share our ideas on how doctors can grow their business using the internet and other methods to expand their reach. We reveal the exact methods you can use to grow your practice today. Check it out here:

https://www.drjamesfedich.com/drj-podcast/episode-101-interview-with-matt-bertram-inbound-marketing-specialist

Dr J


Top 5

Tuesday, March 12, 2019

Hey Doc!

I was recently re-reading one of the greatest mentors I have ever had. Jim Rohn is one of my top mentors even though I never met the guy! Anyway, he says you become the average of the top 5 people you spend the most time with. In fact, he says if you average the income of your top 5 people, that will be very close to your income. So, I want you to write down the list of the 5 people you spend the most time with.

There is probably someone who you need to take off this list. Someone who has low ambition or is bringing you down. Let's upgrade that list! That is why mentors and masterminds are so so important. If you hang around 5 people who average $50,000 a year income, you will make $50k a year. If you take one off and add someone who makes $500,000/year, that average goes way up.

I'm doing a free webinar on this. The mastermind principle was Andrew Carnegie's Secret to Success in which Napoleon Hill talks about in Think & Grow Rich. This webinar will reveal this wealth secret. The webinar is absolutely free and I am doing it with a great friend and mentor, Tony Palermo.

Sign up now! We are letting the whole profession in on this webinar.

http://www.accelerateinnercircle.com


Inbound leads

Thursday, March 07, 2019

Hey Doc!

Welcome to this week's update! For this week, I had the opportunity to interview Matt Bertram. Matt had contacted me about sharing some marketing tips for our audience. I found out that he really knows his stuff on internet marketing and other inbound marketing tactics. Matt shares real world advice about how to get patients in the clinic using the internet.  Check it out here:

https://www.drjamesfedich.com/drj-podcast/episode-101-interview-with-matt-bertram-inbound-marketing-specialist

In my solocast last week, I talked about being watchful of your "gurus." Most of the chiropractic gurus never had a successful practice and almost none of them are currently in practice. This has been going on for years, but I recently saw a dedicated great young chiropractor go out of business due to listening to the wrong gurus. In just a few short years, a practice that had been successful for over 30 years went out of business. Don't make the same mistake. Listen here:

https://www.drjamesfedich.com/drj-podcast/episode-100-watch-your-guru

Speaking of gurus, if you want to get help from someone who has actually built the practice you're looking for, and is currently doing it, I can help. Normally, private coaching with me is $5,000 for a 12-week stint (private coaching:  https://www.drjamesfedich.com/private-coaching-with-dr-j.htm). But because of a request for something less robust, I re-opened my email-only coaching program for a limited time. You get full access to my members vault, all my ads, video trainings, all my courses, and hours of video instruction, along with unlimited email access to me and my team. This will put gasoline on your practice! I'll probably take this offer away again, and it's not available on my website. Check it out here:

https://www.drjamesfedich.com/membership-offerings-registration-form-deal-offer.htm

Dr J


Mentors

Tuesday, March 05, 2019

Hey doc! I am sitting in Austin Texas right now as I write this email. I got invited to attend Dr Jay Morgan's seminar with Jay and Dr Lee Newman. Lee and Jay are both great mentors of mine. We got a chance to golf Austin Country Club, have some fun, and do some learning.

It got me thinking about mentors. I have been blessed in my 15+ year career to have a number of great mentors. I was helped so much by others. In fact, this is why I now do coaching. I have been truly blessed by a great number of mentors in my career. It's so important to have advice from someone who has been where you want to go.

This is why I help.

In the spirit of helping and mentoring, I have opened up an email coaching program. It's the least expensive way to work with me. I'm gonna close this down soon so the time to take advantage of this now. You cannot find this link on our website or anywhere else. It's an exclusive offer just for my subscribers.

Sign up by 3/10 and I will send you my Chiropractic Practice Mastery Course. It's a 5 audio CD program with notebook, physically mailed to your door. It's a $300 value. I'm taking that away soon so check out this fantastic offer now.

https://www.drjamesfedich.com/membership-offerings-registration-form-deal-offer.htm

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5 Strategies To Grow Your Private Practice, with Dr. James R. Fedich

Friday, March 01, 2019
Dr James Fedich

As a part of my interview series with prominent medical professionals about “How To Grow Your Private Practice” I had the pleasure of interviewing Dr.James R. Fedich.

James R. Fedich, DC. grew up in northwest Mt Olive, NJ. He opened a private practice in March 2004 on a shoe string budget, bought used equipment and boot strapped his way to one of the largest clinics of his type. Now, he helps other doctors with his book, “Secrets of A Million Dollar Practice: Proven Tactics to Grow Your Practice.” Podcast and the 5 CD audio “Chiropractic Practice Mastery Course.”

Thank you so much for joining us! Can you tell our readers a bit about your ‘backstory”?

Yes, I was actually born in Kobe, Japan, on family business trip. But I spent most of my childhood in New Jersey. I’m am very tall at 6’ 5” so I played a lot of basketball. At age 13 we were driving to upstate NY to a family wedding. A young woman ran a stop sign and slammed right into the side of our car where my Mom and I were seated. We all ended up in the hospital, concussions, bruised ribs, my mom had a collapsed lung. I endured some serious back pain. I spent every day after school laying on the floor because back spasm, and worst of all I couldn’t play basketball! Nothing was helping.

Eventually my mother took me to a chiropractor, and almost immediately I’m back to playing sports after months of agony. I remember telling my parents back then I was going to be a chiropractor and I never changed my mind.

What made you want to start your own practice?

I always say, if I knew then, what I know now, I probably wouldn’t do it. The usually protocol is work for someone else for a few years this allows you to make mistakes and get back up. I graduated in December 2003. I signed my office lease before I even graduated. I was painting the place myself, buying equipment and waiting for my final board scores. So, if I had failed, I would be in big trouble. Luckily, I passed and opened in March 2004, less than 3 months after I graduated and never worked for anyone full time. I was lucky in that I liked the business of healthcare even before I was a practice owner, but honestly, I just jumped in and figured it out later, but I wouldn’t recommend other do that. Managing being a provider and a business owner can often be exhausting.

Can you elaborate on how you manage both roles?

Yes, being a business owner and practitioner can be hard. You have to wear different hats. Many doctors love being a doctor, but don’t like being a manager and owner. First, you must schedule. Most offices have production days, days where you are seeing patients and producing cash. On these days and shifts, you shouldn’t be managing, marketing, etc, you should be seeing patients. Other days are less about production and that is when you do your other activities needed to run the business. So, for example, most offices are busy Monday, after the weekend, etc. Monday is a production day, you don’t have meetings, etc. For us, Tuesday is much slower. So I only see patients 9–12. Then we have an hour-long staff meeting, and then I have time in the afternoon for marketing and business activities. You have to schedule your week plain and simple. As a business owner, how do you know when to stop working IN your business (maybe see a full patient load) and shift to working ON your business?

Great question. This is the key to most business people. I think for health care providers it is even harder because we all went to medicial school because we like to help people. In the beginning, you have to do it all. You have to see all the patients, do all the marketing, etc. As you grow and bring on associates or partners, you will have more time and more demands for management duties. So you slowly adjust your schedule. I now have two full time associates, as well as other providers that can cover for me. So, two days per week, I only see patients half the day to free up time for other business duties. I could continue cutting back patient hours, but I have enough time to get my management duties done, and its hard to give up patient care. Few providers ever totally give up patient care, for one, it’s very profitable for the owner to see patients, and two, we went to school for it, and hopefully love it. I can certainly cut back more hours of treating patients, but I choose not to, I still enjoy it and it is profitable. In the end, it’s your decision, but it’s crucial to block the time to run the business.

From completing your degree to opening a clinic and becoming a business owner, the path was obviously full of many hurdles. How did you build up resilience to rebound from failures? Is there a specific hurdle that sticks out to you?

Yes, there is certainly a lot of failure. I think the difference between successful versus unsuccessful practices, and in life, is the ability to bounce back. Failure is part of the deal — you learn, you grow. My biggest failure was the IRS. Don’t mess with them. I had a mediocre accountant and the practice was growing steadily the first few years. I was on a quarterly payment plan for taxes. However, as the revenue went up each year, the quarterlies didn’t cover my bill. Well, as I was putting all the money back into the business, when I get a bill for 20k, I don’t have it. So, I do a payment plan with IRS and the same thing happens next year. With the interest and fees, I have barely touched the balance. Now, same thing again, I owe another 20k. Once you owe the IRS over 30k, they start getting serious. Long story short, they threatened garnishing, taking property, etc, if the balance wasn’t under 30 in 10 days or so. I scrambled, wrote a check I wasn’t sure would clear. Lesson learned. I don’t do my taxes that way anymore, and I don’t use that accountant.

What are your “5 Things You Need To Know To Grow Your Private Practice” and why?

  1. Get more reviews. Reviews are social currency of today’s society. Today internet reviews are the social credibility. For most of us, Google is king. Yelp and others are important in some markets, but Google reviews are king. They also help with SEO which is an added benefit. So, how do you get more reviews? One, get a short web URL so it can be easily remembered. Second, make it fun with customer giveaways. “Win a flat screen tv this month, just leave us a review and be entered to win this new TV.”
  2. Develop a marketing calendar. Most private practices go on the practice roller coaster. Meaning we run a promo, practice goes up for a month, we get busy treating patients, do no marketing, then in three months, we are right where we started. Not productive. The way to beat this, develop a marketing calendar. Get a large dry erase calendar and plan out your marketing for the year. I strive to have at least 1 large event per month. For example, patient appreciation day, food drive, toy drive, etc.
  3. Master internet marketing: Well, actually you don’t master it, you’re a doctor after all! But you should know some basics and hire a really good team to do it for you. So, you need someone who really knows what they are doing. But you need to know what is the strategy. This is important, too many people want to study tactics, you don’t want tactics, you want strategy. You want good, paying referral quality new patients, not leads. You want people searching for your type of treatment online to find you. The best strategy is good PPC (pay-per-click) on Google to get people looking for what your selling. Don’t forget Facebook either. I would also advise avoiding lead generation companies — they send you leads buut not a lot of actual patients.
  4. Referral Systems: Most doctors when i speak or come to me for coaching tell me they want referrals. They need systems to encourage more referrals and keep a steady flow, but how do we do that? First, patients don’t refer for making them better, that is your job. You don’t get referrals for doing your job, you must impress patients with your customer service. Also, a big fallacy is that long time patients refer. Statistically, newer patients are most likely to refer, especially in there first few visits. So impress them with great training, great service, and my favorite, a welcome gift. We give new clients a goodie bag with our coffee mug and some small trinkets and a welcome letter, talk about a wow factor.
  5. Mail: Yep good old fashioned snail mail. It still works, and now that our mailboxes are less cluttered, it works even better. First, keep in better touch with your patients. Birthday cards, holiday cards, thanksgiving cards, and yes a monthly printed newsletter. We still send a printed newsletter every month, and it helps with retention and referrals. Also, direct mail can be very powerful for getting new clients. I really like the EDDM program from the post office. It allows you to send postcards to residents on a carrier or postal route. This works well for a practice because you can target neighborhoods where your customers live. I recommend an oversize card. Keep in touch with you patients — the more mail a year they get from you, the more referrals you will get.
Dr James Fedich

Many healthcare providers struggle with the idea of “monetization.” How did you overcome that mental block?

Someone told me this a long time ago. If your doors are closed because you didn’t pay your rent, you can’t help anyone. If the practice isn’t profitable, you wont be able to help anyone. If you can’t afford heat in your house and your freezing cold, how much help can you really be to anyone? You must take care of yourself and your practice in order to help others.

What do you do when you feel unfocused or overwhelmed?

Time off. Many doctors get burned out. It’s a serious problem. More doctors are leaving the healthcare field due to burn out than any other reason. But, here is the catch, if you’re a solo owner provider, one week off can take you up to 12 weeks to recoup the business. Yikes. So, what’s the answer? I teach doctors this, in the beginning, take one day off every 90 days. So a long weekend every 90 days. Try to get out of town if you can. You will be surprised how often 90 days comes up. Once your doing that, and the practice is growing, take a four day weekend every 90 days. A four day weekend wont cause a practice slow down like a week will. Do that until your ready to take more time. I’m a huge fan of mentorship throughout one’s career. None of us are able to achieve success without some help along the way.

Who has been your biggest mentor? What was the most valuable lesson you learned from them?

Mentors have been extremely valuable to me. I have been very blessed in this regard and it’s the reason I give back through my podcast and book. I was helped so much along the way, now I try to give back. I had a lot of great mentors. Dr James Santiago was a doctor I did my externship with him and he allowed me to work weekends in his clinic and weekdays in mine to get started. I learned from him how to balance excellence in patient care along with a profitable practice. Also, Dr Jay Morgan, he’s a mentor and coach who taught me so much, but mostly how to balance practice with family life and the real importance of each.

What resources did you use (Blogs, webinars, conferences, coaching, etc.) that helped jumpstart you in the beginning of your business?

Everyone needs some coaching. If Tom Brady has five coaches what makes people think they don’t need coaching. I have had coaching from day one in practice. Even today, when I coach other doctors, I have a practice coach, business coach and a coach for my associates. I did many coaching programs, but some books really helped me out: “Influence” by Robert Cialdini, all of Dan Kennedy books and his newsletters and seminars, Jim Collins, Seth Godin, Jim Rohn, all have been a big influence on me.

What’s the worst piece of advice or recommendation you’ve ever received? Can you share a story about that?

I think I have gotten more bad advice than good. I think the worst advice every clinician gets is that if your proficient and good at your field, the business will come. I think that is still the worst thing to tell anyone and we have all heard it. Just being good at your craft does not ensure that you will be successful. In fact, if you study only technical excellence and nothing else, you will surely go out of business and not be able to help anyone. Please recommend one book that’s made the biggest impact on you?

“Leading An Inspired Life” by Jim Rohn is greatest book I ever read. Get a copy, put on your nightstand and read a chapter every night.

Where can our readers follow you on social media?

Facebook https://www.facebook.com/DrJamesRFedich

instagram: Drjamesrfedich

Web: www.drjamesfedich.com


Watch Your Gurus

Thursday, February 28, 2019

Hey Doc!

Welcome to this week's update!

In my solocast this week, I talked about false gurus. I usually don't speak about this, even though it is rampant in our profession, but I recently had the experience of knowing a very motivated, talented young DC, take over the practice of a deceased chiropractor. The young doc literally did everything the association gurus told them to do and subsequently failed in practice. Here, I talked about the importance of selecting the right mentors:

https://www.drjamesfedich.com/drj-podcast/episode-100-watch-your-gurus

In my interview episode last week, I had the pleasure of talking to Scott Smith, the CEO of Royal Legal Solutions. Scott and I had a great conversation about protecting yourself, your practice, and your assets. It's one thing to earn and accumulate...it's another to keep it all safe. Check out the interview here:

http://www.drjamesfedich.com/drj-podcast/episode-99-interview-with-scott-smith-ceo-royal-legal-solutions

At the request of a client, I have opened up an email-only coaching program. This has been closed for a while, and I had no intention of doing it again. But since he asked, and my team opened up the link, I'm gonna open it up again for my email subscribers only. You will get unlimited email access to me and my team. Marketing, staff, billing questions, shoot away. Need an ad, materials, ask. And even better, we will give you access to my member's site, usually only available to private clients. You have access to dozens of ads, flyers, documents and hundred hours of video training. Its value is amazing! I have limited space for this program, so check it out here:

https://www.drjamesfedich.com/membership-offerings-registration-form-deal-offer.htm


Hey!

Tuesday, February 26, 2019

Hey Doc! How are you? February is almost over (thank goodness) and we shall hopefully enter Springtime soon! I always teach that practice growth has seasons. For most of the country, winter is not a time of growth, it's a time for survival. For your practice, it's about holding it steady as much as possible. We can try for growth, but holding steady is great as well.

Springtime is usually the best time for growth for chiropractic and physical medicine practices. There are many reasons why: no vacations, no bad weather for most of us, people start getting active, and other factors. Well, spring is coming up soon, and it's time to plan now.

Plan a Patient Appreciation Day, and do some more big events. This is the time to put gas on the fire and now. We need to plan for Spring because before you know it, summer takes over, and during the 8 weeks of summer break, it's also very hard to grow. So, let's plan for Spring and put our foot on the gas pedal.

As you know, I cut private coaching in the new year. I am just finishing our Ultimate New Patient Program which was a huge success, and I am starting a mastermind with a friend any day so, I had to limit my time.

One coaching client still wanted access, so I had an idea. I used to offer email coaching and full access to my member's site. I haven't offered this in over 6 months, but I like the guy, so I had my team re-open the link. I'm willing to take few of you this way. You have unlimited email access to me, any questions, comments, and any documents you need, you can email me. You also get access to our member's area where there are dozens of training videos and marketing pieces with tens of thousands of dollars in value.

I'm just gonna let a few docs in, because I am about to start this accelerate mastermind program. I haven't offered this in a while, and I doubt I will again. In fact, you cannot find this on our site, the link had been removed months ago. We will be taking this link down soon....

https://www.drjamesfedich.com/membership-offerings-registration-form-deal-offer.htm

Dr J


Legal Stuff

Thursday, February 21, 2019

Hey Doc!

Welcome to this week's podcast update! This week, I have a great interview! I had the pleasure of Interviewing Scott Smith, the CEO of Royal Legal Solutions. Scott is a lawyer and he specializes in protecting the net worth and assets of his clients! We talked a lot about building your business, saving, and more. But, what about once you get there? Or, when you're on your way up. Trust me from experience, you will be targeted. Former employee, car accident, lawsuit, anything can go wrong. Click the link to listen as Scott teaches us how to protect our hard earned assets: http://www.drjamesfedich.com/drj-podcast/episode-99-interview-with-scott-smith-ceo-royal-legal-solutions

In my prior episode, I talked about "the last mile". After a family vacation, we had two very different experiences at the end of the trip. One customer service personnel saved an otherwise bad experience, and another customer service personnel put the nail in the coffin on our thoughts on the other. I tied in some important lessons that you can use in your business. I hope you find it helpful! Click here: https://www.drjamesfedich.com/drj-podcast/episode-98-the-last-mile

I have opened up a few private coaching spots for the year. I am busy with my practice, current projects and more. But my 6-week new patient course just ended and I have a few spots freed up. I probably won't have any for a while. Limited space. You get full access to me, my team, and all my materials. This 12-week program will transform your practice. Check it out here: https://www.drjamesfedich.com/private-coaching-with-dr-j.htm



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