Starting a Chiropractic Business: Tips for the Entrepreneurial Doctor
Note: This article first appeared in the Summer 2016 edition of the Texas Journal of Chiropractic, the premier resource for Doctors of Chiropractic in Texas.
Why New Doctors Struggle with Running a Practice
Many new doctors graduate from chiropractic school, decide to launch their own practice, and soon discover that while their education prepared them to deliver quality patient care, it did not prepare them to manage a business. For insights on the challenges healthcare entrepreneurs face, see Forbes: Challenges of Healthcare Entrepreneurship.
Learn from Other Professions
Doctors of Chiropractic aren’t the only professionals facing this challenge. In law school, I spent more time learning about the medieval roots of property law than running a law firm. While interesting, practical knowledge is what prevents financial struggles in professional practice.
Assemble a Professional Support Team
Successful entrepreneurial doctors rely on guidance from experienced professionals. Most small businesses need:
- An attorney familiar with healthcare regulations
- A banker who understands business financing for medical practices
- A CPA experienced in healthcare tax issues
Choose professionals who communicate clearly and understand the unique needs of healthcare practitioners. Advice you can’t understand is ineffective.
Avoid Costly DIY Mistakes
While DIY tools like LegalZoom or TurboTax may save hundreds upfront, errors in business formation or taxes can cost thousands over time. Investing in professional guidance is often the smartest financial decision.
Start Your Practice Right
Building a successful chiropractic practice requires more than clinical skills. By assembling the right team and avoiding common pitfalls, entrepreneurial doctors can focus on delivering exceptional care while growing a thriving business.
Joshua Massingill
Joshua Massingill is an attorney practicing in Austin, Texas. He serves on the Texas State Bar’s Law Practice Management Committee, the Leander Educational Excellence Foundation (LEEF) Board of Directors, and the Success-Werx Board of Advisors. He mentors young entrepreneurs in Leander ISD’s INCubatorEDU program and is active in his church.
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