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Hi, I am Dr. Mark Studin, and today with ChiroSecure, we’re gonna bring you an important message on collections and how to work in the personal injury world. So we’re gonna go to the slides right now and we’re gonna get crank it. So just recently we did our Primary Spine Care 17 symposium, and it’s how primary spine care will change your career.
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And primary spine care simply means you are the first referral option for spine, not just lawyers or medical primaries, but medical specialists, urgent cares, emergency rooms. Can you imagine tapping into 99% of the profession and they refer to you first? I have primary care medical doctors who refer on average 35 cases to physical therapists for spine.
I have pain management doctors who average about not about exactly 147 referrals to chiropractors in Southern California, and he is got 14 offices. Can you imagine tapping into that, how unbelievable that would be for chiropractic if we all work together? But when you deal with lawyers. You want to get paid and you don’t want to be taken advantage, I’m gonna give you 50%, 40%, 30% we’re being screwed, and it’s bad enough we’re being screwed with certain managed care companies that’ll pay you still 25 or $30 a visit.
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By the way, those companies are getting 50, $60 a visit. Chiropractors own them, and they’re keeping the rest of the money and screwing you. That’s called the third party administrator. You’re being screwed. So be careful, and I would not recommend that for anybody in our industry. It’s you’re gonna end up working for nothing.
But again, my goal right now, my vision and the vision of the Academy of Chiropractic and who we work with is our vision is to change chiropractic purely through clinical excellence. Clinical excellence and the number one solution, just get smarter. You need academics and you need to reach beyond technique.
You need to be beyond nutrition and functional medicine. Chiropractic. You have to be able to manage your case. And if you get smarter, guess what? It’s funny I interviewed Pat this last week in our primary spike, year 17 symposium and accountant, and you know what he said on camera. He said, I deal with chiropractors in 10 states.
His practice is limited to chiropractic practices. Not limited, that’s his focus. But he said, I find out how much education they’ve had, what courses they’ve taken, who they’ve taken them with, and the more they have in academics, the more money they’re making. And you know what? You’re helping more people, you’re seeing more people, and you’re making more money, and that’s just a validation.
Just a little bit of a factoid it, and I’ve got dozens of these. I’ve got three books of these, actually 200 pages each. But according to B Blanchet, in 2016, medical care was 12% longer than chiropractic for spine related issues, and physical therapy for full compensation was 239% more. The same blanche report and the citations are on the bottom.
Partial compensation medicine was 20% more time, and physical therapy had 313% longer time to try to achieve a partial compensation. According to Sifuentes, there was a 32% average decrease. In cost of medical of chiropractic expenses compared to physical therapy. Fast forward to 2020. It’s not up on the screen.
Ndot with a cohort of 8,000,040 3000 people over four years reported that 96% of chiropractic respondents showed favorable results. Where in medicine, 98% of the diagnoses are non-specific. Back pain. They can’t figure it out. And folks, we’ve got volumes of books. We’ve written Signs of Chiropractic Volume one, two.
What rate? It’s at lulu.com. If you ever want to go there, put my name in there as a search. All of this is in there. You need to understand that it’s critical. But if we move on to a little bit of researcher, but little bit of, a little bit of knowledge and credentials, knowledge without credentials. You’re a BS artist.
You’re a BS artist. You really need advanced credentials. And advanced credentials are important. And I actually just spoke to a doctor yesterday who’s working in the Atlanta area, and I say what kind of credentials you have and a lot of his credentials. Let me see what the next slide is. A lot of his credentials are through chiropractic and medical academia.
So he’s taken courses who have medical academic credentials as well as chiropractic credentials for continuing education. And we’ve got 50 courses like that. As a result, his knowledge base is up there. Yeah, he is got great chiropractic professors, but one of his professors is a Harvard based neuroradiologist who taught him how to read MRI another regarding stroke analytics and management is a double boarded vascular neurologist from the Albert Einstein College of Medicine in New York City and teaches at the State University of New York at Stony Brook as a, as a an adjunct associate professor. I could go on and on, and his credentials, his CV is over the moon. Lawyers never want to cut his fee. Why? Because when he deals with them, their settlements are 1550% more. There verdicts are 2640% where those are actual numbers and they don’t want to piss ’em off.
So when they’re referring someone to him, you know what they do? They pay in full. They pay him in full. But why personal injury? I’ve got a statistic sheet that I’m not putting up right now. It’s almost complete for this year that I’ve done every other year up until Covid. And then I’m doing it again for the first time and it shows the highest reimbursements per state, excluding an exam and X-rays.
And you’ll see states. With $225 per visit, $400 per visit, 180 5 per visit, 500 per visit, 300 per visit. Why would you ever wanna work for 30 or 25 or $40 a visit when you could work for two, three and $400 a visit? It doesn’t make sense. It’s the same patient, it’s the same treatment. Unfortunately, too many people don’t have the credentials behind you and the resultant knowledge you need.
So my strategic business plan for everyone is, Hey, treat whoever you want. You’re pretty much gonna give it away, but make sure you have a good percentage of your practices, personal injury, and it’s really easy to do right? And it doesn’t involve going to court. It doesn’t involve fancy breakfast lunches and dinners.
It involves getting your referral sources to run after you. But one of the problems. We see in the industry is lawyers are taking significant advantage of doctors significant, and as a result you’re getting raped financially. And the lawyers are laughing to the bank and how stupid we are as a profession.
And that’s a direct quote. By the way. They love when we treat, they love when they take advantage of us because they know that we have no clue. So let me give you a few. Rules, and here is the rules on lean collections. And you have to know the rules. And by the way, on our consulting side, which is at the Academy of Chiropractic of the Lawyers PI program, we teach you this.
And as a result, our doctor’s take home pay within the first year on average goes up 61%. You need an appropriate or approved assignment of benefits and rights. We give you that. You need two forms of receipt verification. So the lawyer can’t say, I never received the assignment. I. You have to send the lawyer a detailed statement of the ongoing services.
Do you wait until the end of care and balance bill the attorney? You have any idea how many lawyers you’re pissing off? The answer is every one. How would you like to go into the supermarket to extend your credit? A year later you get a bill for a gallon of milk. For a thousand dollars, you’re gonna go crazy.
You’ll never go there again. But now you’re start negotiating. Will you take 50 cents on a dollar? 40 cents on a dollar? You’re pissed all the time. That’s what you’re doing to attorneys. So we’re dealing with a an EHR company called EMR Chiro that I’m involved in, and it’s, we send on a monthly basis a detailed statement to lawyers.
So they don’t get mad at you or halfway through your care, or when there’s a two or three or $4,000 bill, you’ll get a call from the attorney. It’ll say, Dr. Studin I know care might be needed, but this is a, there’s a small policy. I’m not gonna be able to pay you more, and if you treat, I’m gonna have to cut your bill.
So you get to make a business decision there as well as a healthcare decision, and you get to re rearrange the finances because if not, you’re gonna end up working for free. 50% of the case, you don’t want to do that and never negotiate verbally. Lawyers are gonna screw you every time. Everything has to be in writing because if they lie, and by the way, there is a formula settlement we give you on the consulting side, but if they lie, you get to use the state bar to complaint aggressively against their license.
There’s something called RPCA 0.4 C, which is in all 50 states, and guess what? You leverage the lawyer. Doctors get paid all the time because lawyers right now think they could get away with everyone and they abuse our profession. I see it in here every single day until one of our doctors say, listen, you can’t do that.
You’re lying and I’m reporting you to your state bar for an ethics violation, which is cause for loss of license. Instantly you’ll get paid. We have the rules that you need, we will share with you, we’ll teach you, but these are the basic rules you need to know in order to set yourself to get up, to be paid appropriately.
You need an infrastructure. You must have an infrastructure, and I will beat it into your brain until you get it. Because when you’re working with me when you’re on my watch, you gotta get paid. You treat the patient in chiropractic, you gotta get paid. So you’ve gotta work with someone who understands how to have an infrastructure so you don’t get screwed.
And these are the hard seven rules you need to follow and figure it out, get it done. Because without an appropriate infrastructure, you’re not getting paid. And guess what? The ethical lawyers will keep working with you. You will actually get more work. They will respect you.
It’s the unethical ones. You want to stay where, oh, you’re gonna piss ’em off. Who cares? They’re screwing me anyhow. Why would I ever wanna work with the people who are screwing me? So listen, it’s real easy to do it right? And here’s a sample letter. And this was just written two days ago. Dear Mr. Dewey Cheatham, remember for Dewey Cheatham and how, I think that was the three Stooges and the original one of the original, web games called Leisure Suit, Larry, that was the name for the law firm, Dewey Cheat Al. I have respectfully requested you to comply with your client’s irrevocable directive multiple times in explaining to me or giving me the finance of the case. You now reply with a threat of the statute of limitations in a civil case to leverage me to take more money for your game.
Again, as in the assignment of benefits and rights, let remind you that your client irrevocably waived the statute of limitations. That’s what we put in there. That’s infrastructure. However, my complaint to the state bar will be going in tomorrow at 1:00 PM I will include your latest threats of your statute of limitations.
Continuing to know your client’s directive, and you notice a intended smear campaign against me that you’ve commemorated in writing. They said they’re gonna tell all their buddies, their lawyers, that they’re gonna, never work with me again, and that I’m a crappy doctor, et cetera, et cetera.
I have played by the rules that have been professional at all times, and you continue to try to circumvent what your ethical responsibility appears to be. The state bar will have to decide if you, in fact an RP C 8.4 C. If you do not comply with your client’s directive again by 1:00 PM tomorrow, the only communication I will accept is the finances.
The case is requested. Please do not send anything else or attempt to verbally communicate. Sincerely, mark Studin Chiropractor. This bill was paid in full within 12 hours. Happens all the time. Once you invoke the law against them and you have it in writing, ’cause you didn’t verbally communicate, it’s game over.
You’re getting paid. And I don’t care if they’re mad at me, they’re not gonna refer to me anyhow. In the future. If they’re not gonna refer to me, then I might as well get paid in full. Or why would I want to get paid in full if my overhead is 50% before taxes and they’re only giving me 50%. After taxes, I’m losing money.
The more they refer, the quicker I go outta business. So there’s a, there is a real system behind this. There’s a business system and you have to understand that. Listen, I hope this little piece of information was helpful. Take your phone out, take a picture of the QR codes. On the consulting side, it’s the top qr.
Code Vert is our x-ray. Digitizing EMR. Chiro is our notes platform, which is by far the best in the industry. The bottom QR is our academics, and I believe these are the best academics, consulting, digitizing, EEHR systems. In the industry. ’cause that’s all I’ll be associated with. So listen folks, it was my pleasure to share this information.
I hope it was helpful and we’ll catch you the next time.
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