Episode #15: Integration Path #1 - I'm a Streamlined Innovator (Part 2 of 5)

Published: March 3, 2020

https://youtu.be/-o3K_TvcIbo

Show Notes:

Speaker 1: (00:00)
Hey, welcome back innovators. This is Dr. Andrew Wells with a simplified integration podcast and you're listening to episode number 15 the integration path number one, I'm a streamlined innovator.

Speaker 1: (00:14)
Leonardo da Vinci once said that simplicity is the ultimate sophistication and I agree. You see the problem with the way that most consulting groups approach medical integration is anything but simple. In fact, it's the exact opposite. It's expensive, it's complicated and quite frankly it's exhausting. Enough is enough. There are far too many amazing integrated clinics that are struggling. Well, I'm on a mission to change that. What I've come to find from over five years working with integrative practices is that simplicity really is the secret. The old saying of less is more is true. Through a streamlined approach, I was able to create multiple successful seven figure integrated clinics and now I'm going to show you how you can do the same. Join me as I share with you the secrets to successful medical integration and practice growth. Join me on a journey to greater sophistication through innovation. I'm Dr. Andrew Wells and welcome to the simplified integration podcast.

Speaker 1: (01:12)
Hey doc, it's great to have you back. This is episode number 15 in F. it's this part two and a five part series. And if you haven't listened to the first part, please go back and listen to the first one. Uh, episode number 14. And this five part series focuses along around a theme that integration is not a one size fits all solution for everybody and for every clinic. And so in this episode we're going to focus on integration path number one. So let me define that. So we have our three different paths of integration path. One path to path three. Path one is what we call a streamlined innovator. So let me, uh, talk about what this means. So when I first, when a doctor is first contact me, so I get a lot of calls from doctors who are interested in integrating or want to integrate and they want to do it in a simplified way.

Speaker 1: (01:55)
The first question I have for doctors, okay, great. What is your goal? So what do you want to get out of integration from a professional standpoint? And what do you want to get out of this from a personal standpoint? The reason I ask this question is because of the fact that integration is, again, not a one size fits all solution for everybody. So let me, um, I want to go over a call. I had recently with a doctor. He's, um, he called me up and he was kind of panicked and he said, listen, uh, I just found out about you. I listened to, um, two webinar you recently did. And he goes, the reason I'm calling is I just integrated. And he said, I didn't realize what I signed up for at the time. But once I started getting into it, I'm like, Whoa. He's like, Holy cow, I didn't realize this is not what I wanted.

Speaker 1: (02:42)
And this guy had just signed like a big time contract, um, is going to owe this consulting group a lot of money. And he said, all I wanted to do was do regenerative medicine. And he goes, I don't want to do DME. I don't want to do trigger point injections. I don't want to lost equipment. All I want to do is regenerative medicine and I thought I to integrate to do that and I said, well you do have to integrate but you don't need all that other stuff. And he's like, shoot. Like. He's like, I didn't realize that. I'm like, Oh, I don't know what to tell you. I'm really sorry that we didn't connect earlier because I have a, like I have a program for that. For doctors who just want to do regenerative medicine. And this is important because as this doctor realized, you don't need a lot of stuff to do regenerative medicine.

Speaker 1: (03:24)
Right? And the reason doctors get into regenerative medicine in the first place is because they want to help. This is really rich. I don't know. Medicine is great for patients who have osteoarthritis, let's say they have like a worn out knee or a worn out hip or they've lost a joint space in their shoulder or their neck back. It's a great solution for patients who are trying to avoid surgery and cortisone injections and antiinflammatory drugs and you don't need a whole lot to do that. In fact, these kinds of programs, if you see 10, 15 patients a month, like that's a busy practice. So you don't need a full time medical doctor. You don't need a full time nurse practitioner. You don't need all this space and equipment, all this stuff did to do that. And um, you know, I was really upset when I talked to this doctor because I'm like, man, I had to have a perfect plan for you.

Speaker 1: (04:06)
But this guy had already committed to read, not real. He didn't realize it. He signed up for this big like consulting program. It's going to cost him hundreds and hundreds of thousands of dollars. I know. Um, and he just, he just, he didn't know that there was another way. So that's why I'm doing this podcast right now to tell you like, yes, there is another way. So the other, so there's a lot of great things about this path and this path is great for some doctors as just a standalone system, a great way to do sort of what I call niche, uh, integration where you're doing one cash therapy. It's has great results with patients. And that's all doctors want to do. But it's also a good stepping stone into more advanced integration where you may be you're adding insurance services or doing some other therapies that will boost up your insurance collections and cash collections.

Speaker 1: (04:55)
But this is a great, great, great starter. Now, this system does not work for everybody for every goal and every situation. So let me give you, let me tell you when this solution would not work. So let's say you want to make 100000 bucks a month through integration and you live in a major city, so you live in Chicago or Houston or um, Atlanta or, uh, New York like these, uh, Seattle where you already have a bunch of doctors doing integration and regenerative medicine. So if you're not aware, like if, if you have a lot of doctors doing STEM cell therapy type programs or regenerative medicine, they're already marketing the heck out of Facebook and newspaper ads and daily, likeF , like mailers into, into the mailbox, like all kinds of advertising. So it's becoming really, really, really tough to advertise for a cash only regenerative medicine type practice.

Speaker 1: (05:50)
So this, this type of solution is not great for a doctor who really wants to make a lot of money, help a lot of patients, and dramatically boost your revenue. It's not going to work. However, if you're in a rural area. So I have a doctor right now, he's in a, um, he's in a rural area of, uh, Utah. There's not a whole lot of, uh, other people around him doing this type of therapy, but he still wants to make a lot of money doing it. This is the perfect solution because he has zero competition. This kind of program would work amazing in his, in his, uh, in his city. But we're going to save him a bunch of money because it's not going to cost a lot to get that thing started. So it's great. So it's cash based therapy. This type of system is 90% less startup costs and traditional integration.

Speaker 1: (06:32)
In fact, you can get integrated on this type of system for less than 10,000 bucks. It costs anywhere from about five to 10 K to get an integrated program just like this started. So it doesn't have to break the bank. And when I tell doctors that they're like most of my system, most doctors, it's like what? Like less than $10,000. I thought I was gonna have to like take a second mortgage on my house or like sell off my first born child. It doesn't have to be that way. Integration can be, that's why we call it simplified integration. We get rid of all the crap that you don't need. So you can integrate for less than 10,000 bucks, less than 90% of the startup costs of traditional integration. Uh, this is also a low overhead system. So one of the quickest things that will kill your business and integration is having a high overhead.

Speaker 1: (07:11)
So what causes a high overhead? Uh, paying your medical staff too much. If you're running a cash based regenerative medicine practice, you don't need a full time nurse practitioner. I meet so many doctors who are like, yeah, I've got this nurse practitioner and most of the day I have no work for her. Right? Cause I see 15 to 20 regenerative medicine patients a month. That doesn't take a lot of time, but they have, they have these medical folks sitting around in their office doing nothing because they can't do volume doesn't justify it. So hire those people part time. If you're running a system like this, it's very easy to find a part time nurse practitioner and pay them hourly. Um, also you don't have to spend, you should not be spending a huge, huge amount of money on your staff. Like you, most chiropractors can run this kind of program by themselves.

Speaker 1: (07:54)
Maybe they hire a case manager or someone else in their office to handle the financial part, but you really don't need a huge staff. And then a lot of doctors also wasted money on advertising. So there is a correct rate way to advertise those types of service and some strategies that don't work. And again, if you're in a crowded market where everyone's doing regenerative medicine, this is not the net of the strategy for you is the next one, which we'll talk about on the next episode. But this is not great for really competitive markets. And then, um, you should be able to integrate in less than 90 days. And here's why. You don't need to do credentialing because this is a cash based service. You don't have to get credentialed with Medicare, blue cross blue shield United. That process can take anywhere from like three to nine months.

Speaker 1: (08:37)
I've had doctors that took it over a year to get credentialed with Medicare. So because this is a cash based system, you hire an attorney, you get your LLC set up, make sure you're following state guidelines, you have the right contracts in place and you can get this thing rolling very, very quickly. Um, so this is a great program if you're, so in terms of revenue expectations, so doctors always want to, well, what can I make with this type of program? On average, you're looking at about 20 to $40,000 in collections. So this is very easily a mid to high six figure system. We know doctors that have done a seven figure business with a program just like this. Um, so yeah, you can, you can make a lot of money with it. But the key again is keeping your overhead low. So this is not typically not your seven figure type office system.

Speaker 1: (09:16)
This is more of a mid to high six figure stream of revenue with a big chunk of that you can take home if you're keeping your overhead low. And then here's what we do. This is a, this is a plug for my system and I can do that cause this is my podcast. But what we offer is a 90 day money back guarantee. And the reason we do that, and we're the only group that I'm aware of that does this, but the reason we do it is because a lot of doctors have, uh, are afraid of integration because they're afraid of losing their butt. They're afraid of like going bankrupt or spending a lot of money on a system that doesn't work. So all of the things that I just mentioned in this podcast that we do and we help our clients with, if we can't do that for you, then you don't owe us anything.

Speaker 1: (09:56)
And we, we like that guarantee because it takes all the risk off the table. And that's like the biggest hesitation doctors have as well. Like, can I trust Dr. Wells? I don't know who he is. Like is he really like, is this stuff really legitimate? And so you'll know on the first three months of working, working with us if we're full of crap or we're actually going to show you what we've promised. And so that's why we offer this 90 to 90 day money back guarantee. Like if we're not following through with our end of the deal and you don't owe us anything, like how fair is that? Right? I think that's, I think all groups should operate that way, but that's why we have this 90 day money back guarantee. So you can, it allows doctors to move forward with confidence knowing that we're going to follow through and help you achieve your goals.

Speaker 1: (10:37)
And um, so yeah, and I remember when I first integrated, I had a lot of questions, I had a lot of concerns, um, and they're all warranted and I didn't have any, like, I didn't have any money back guarantee if it didn't work for me, I was screwed. We made it work. But we really want to make this something that's affordable, something that's attainable for most doctors. And the biggest thing is again, the financial part of it is having enough money to integrate, which we've taken care of. And the second problem being like if this is like not legitimate, I want to be able to like to make it go away and we offer that as well. So I hope this gives you an idea of of what simplified integration is and what we call being a streamlined innovator. So this is a very like niche way to integrate your office without blowing the bank and something that you can run right alongside your existing chiropractic practice on really a part time basis.

Speaker 1: (11:25)
Because again, remember if you're seeing 15 patients a month, number one, you're bringing in a ton of revenue, but you don't have to spend a bunch of time managing this service or managing your patients. So I hope you found this beneficial. This is the path, one of three paths of integration. And by the way, I wanted to mention to you before I sign off here is that the reason we don't call it a level, like there's not level one, level two, level three, it's path one, path two and path three because every path is different. Not every chiropractor wants a multimillion dollar integrated clinic. Some chiropractors are happy just doing this and this is enough. This is what exactly what they're looking for. So we offer a solution for you if that's you. So thank you for being on here. I hope you found this insightful. I hope you learned that there are other ways to integrate than conventional integration and uh, and we have a path for you if a, if you so choose.

Speaker 1: (12:14)
So, um, great to have you on here. I look forward to having you on the next episode. We'll work, we'll cover what path to of integration looks like. Have a great day. Talk to you soon. God bless. Hey innovators. Thanks for listening to the simplified integration podcast. Fact that you're listening tells me that you're like me, someone who loves simplicity. And the truth is, those who embrace simplicity are some of the greatest innovators. So hope you got a ton of value from what we covered on today's episode. Be sure to subscribe and share with other docs that you feel could benefit from greater sophistication through simplification and innovation. If you've got specific questions that you'd like answered on this podcast or you've got specific topics that you'd like me to discuss, just shoot me an email at info@simplifiedintegration.com that's info@simplifiedintegration.com.

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