Episode #4: The High-Ticket Highway

Published: December 13, 2019

https://www.youtube.com/watch?v=O7HcTY9c3Pk

Show Notes:

Speaker 1: (00:00)
Hey, what's up Doc? Welcome back to the simplified integration podcast. My name is Dr. Andrew Wells and this is episode four a high ticket highway.

Speaker 2: (00:13)
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: (01:09)
All right doc. So it's great to have you on this episode. Now this is, this is really fun topic. I want to share a story with you to kind of explain this concept of the high ticket highway. When we first introduced, um, uh, regenerative medicine to our office, what we do, who we launch it to, our existing patient base. So we, we like sent out emails and talked about in the office and we said, Hey, we've got this amazing new therapy called regenerative medicine. It can help you with your knees and hips and back, that kind of stuff. And so we held an internal seminar in her office. I don't want to say we had like maybe 30 to 40 people. I don't remember signed up for the seminar. And, um, we knew it was a, it was actually a packed house. It was the, it was the biggest S uh, show up for an event that we ever did in our office to our existing patients.

Speaker 1: (01:53)
We had a couple of guests as well. And so we did the, uh, we did the seminar and then we booked consultations right after that. And I remember the first patient I met with, we went back to the consultation room and she's like, wow. She's like, this is amazing. I didn't know this was even possible to use regenerative medicine. And she goes, and I already kind of knew her health history and she said, I really want this for uh, both of my knees and my shoulder. And she goes, how much is that going to cost? And I, we had like a special promotion and stuff. I did the math on my calculator and I said, well, it's about 9,600 bucks. And she goes, can I put that in a credit card? And I said, yeah. And I say, she's like, okay, let's do it. When can I have it done?

Speaker 1: (02:32)
And I said, well, Hey, tomorrow. So I remember walking out of the room on what was probably a 15 minute consultation and the same day I did this seminar, I remember walking back to the front desk thinking like, I almost felt like something was wrong. Like, Oh my gosh, like we just collected 9,600 bucks for a therapy. That was like a one time therapy patient was super excited about it. And I remember thinking like, wow, like I sometimes like you get in your own head about like what, like what the patient will value for a certain thing, right? Like are they really gonna pay 300 bucks for chiropractic care or 10,000 bucks for regenerative medicine care. And really the value is in the eye of the beholder, so to speak. And this lady was, and her husband was extremely happy to pay 9,600 bucks for a real solution, for a joint pain.

Speaker 1: (03:23)
And I remember walking to the front desk and I'm like, wow, look, we have, this is so cool. It's so cool for the patient. And it was really excited that we collected 9,600 bucks in 15 minutes. And then I remember, uh, another doc working in my office came up to me and he had done the same day, did another consultation with another patient and she's, he said, yeah, she's doing two joints. So that was 7,000 bucks. So within the scope of like 20 minutes we had collected, what is that like 16,000 bucks. And as a, you know, the course of the week went on. I think we in our first seminar we collected, you know, it was like 60, 70,000 bucks I think with our first, our first seminar that we launched to our existing patients with no ad budget. So this was the first time I really tasted that concept of selling high ticket therapies to our patients in our office.

Speaker 1: (04:08)
And it was a huge revelation for me. I'm not just the the revenue collection but also um, especially I talked about this on the last, uh, the last episode was how much effort you really have to put into regenerative medicine. Cause remember it's a one time injection. So, um, that really changed my perspective on how I viewed introducing new therapies to the office. The alternative to that would be, so if it's not a high ticket highway, the other thing or high ticket therapy is, well, you know, what else can you offer? You know, you have nutrition plans and you have weight loss options in decompression. And functional medicine, like it takes a, it takes a lot of tickets, so to speak, or smaller tickets to equal one regenerative medicine ticket. So this saves, saves you so much time in. So ma, so many headaches in so many different ways.

Speaker 1: (04:57)
So for example, when you're, when you're running a, uh, an ad campaign, let's say you do a Facebook ad campaign, like how many ads would you have to put out and how many phone calls would you have to answer for a typical chiropractic patient? Right? It's a lot, right? You have to collect a lot of leads and, and get on a lot of calls and take care of a lot of patients to equal the amount of one regenerative medicine patient. Whereas with regenerative medicine, because it's a small niche therapy and it's a smaller demographic, you don't have to handle as many patients, right? A busy clinic may see five to 10 regenerative medicine patients per month. So let's, let me give you an example of that conservative month. Let's say you're, let's say you see five regenerative medicine patients and let's say on the low end, their case average, you're collect $4,000 per patient.

Speaker 1: (05:47)
That's $20,000 you made in one month just seeing five patients. That's the beauty of high ticket sales. It's less patients, it's less demand on you, it's less demand on your staff, it's less demand on everything and you benefit the patient benefits. So this is why, uh, I'm really, really passionate about high tickets. You know, high ticket items, and this is the response I get from a lot of doctors is they're, they're very uncomfortable with that. Uh, they don't know if they can sell high ticket therapies. They don't know if there are enough people in their town to make that work. Um, lots of different like, um, objections or kind of hangups people have in their, in their mind. And what I'll tell you is this, like the demand is out there. If you don't believe me, uh, walk into an orthopedic, a surgical clinic, like show up on a Monday morning or Tuesday morning at nine o'clock and, and just look around and see how busy their waiting room is.

Speaker 1: (06:42)
Like these are, there are, there are, there is an endless supply of patients in your town who are, who have joint pain or back pain and they're looking for solutions other than drugs and surgery. And that's where regenerative medicine fits in, right? Your main demographic is going to be your patient 55 years and older. They have a bad joint. They've already been to the orthopedic surgeon. They're looking at, they're staring down the barrel of surgery. They don't want to do that. They want other options and uh, they will pay for nonsurgical solutions to join pain because what are they getting in return? Right? You're like, well, why would someone pay that much money for one injection? Because what you're giving them in return is their life back. So many times we think of it as, well, it's a little Viola stuff. It's not worth 5,000, 10,000 bucks.

Speaker 1: (07:28)
Well it is for the patient because now they can, they can, uh, they can garden again. They can play with their grandkids again. They can travel. We had a patient one time, her whole goal was she wanted to be out of pain so she could go to Europe and she wanted to travel for like three months. And then she said, she goes after that. If you can get me out of pain for three months after that, like I'm, I'm good to go. My husband's passed away. I don't like, I don't have any other reason to be on earth anymore. I'll be happy if you can, if you can provide that for me. Um, and we were able to do that. So, um, that was like, she, she would've paid anything to have that experience in her life. I'll give you another example. We had a patient, um, this was a really severe case.

Speaker 1: (08:07)
It was a lady who came in on a motorized wheelchair and she was overweight. She was diabetic and she had severe, severe knee pain. And I remember this lady because she was like, she was desperate. She was out of options and, um, and she was so unhealthy that her surgeon refused to do a knee replacement on her because they were afraid that she wasn't gonna survive the surgery. And so I said, listen, like you're likely not a candidate, right? Cause you came into, you're not even, you're not, you're not, you're not walking on your own. You're using this motorized wheelchair. And she goes, what? Just if you can get me some relief, I just want some relief. And we x-rayed her knees and her knees look really awful. And I said, listen, regenerative medicine is not, is not going to help you the way that, um, I would like it to.

Speaker 1: (08:52)
And I said, you're really not a good candidate for this. She said, well, what, what type of relief could I get from this? And I said, you'd be lucky to get 5% relief. And she goes, that's worth it to me. And I said, well, what do you mean by that? She goes, I'm in severe pain. I don't want to live anymore. I can't do surgery. I can't be on these drugs anymore, but I just need to be out of pain. And she was in tears and I was, I was half until like I was tearing up listening to the story and she said, if you can provide me with a 5% relief, I want to do this because that's my only option. And this was like 7,400 bucks I think for both of her knees. And I said, listen, it's 7,400 bucks. Is that a lot of money to you?

Speaker 1: (09:30)
Like is this going to cut, like keep you from eating and paying your bills? Cause if that's the case that it's not going to be worth it. And she said, listen, we'll find a way to pay our bills. We'll find a way to keep food on the table. Uh, and, and her husband looked at me and said, listen, if you can provide her with some pain relief, we will find a way to make it work. And it was, it was like a lot of money for them to spend. And for me, I'm like, ah, like I had this kind of like moral dilemma, but I was very upfront with her and said, this is not, it's not going to fix your knees, but it may potentially help you get out of pain. So she ended up doing the injection and she came back, um, uh, three months later for like a checkup and she's still in her motorized wheelchair.

Speaker 1: (10:09)
And I'm like, eh, I was kind of dreading walking into the consultation room cause I, my fear was I kind of slid, let's lay, it didn't get any relief. Like she spent 7,400 bucks. I don't want to like, I don't want to have that conversation. I'd feel really bad if that were the case. And I came in the room and, and I said, you know, I asked her how you doing? And she started crying and I'm like, God, this is not good. And she goes, she goes, you have no idea how much he helped me and I will, what, what do you mean by that? I see you're still in the chair. And she goes, I said, how are you feeling better? She goes, yeah, I feel better. I said, how much? Cause I'm probably 10% better. And I'm like, well that's not a lot.

Speaker 1: (10:45)
And she said, yeah, but you have no idea. She goes, now I can actually stand up long enough to cook dinner for my husband and I can, I can, it's tough, but I can do dishes again. I can do laundry again, I can help her help out around the house. She goes, those little things have given me my life back. I feel like there's a reason to live. I can, I can take care of my husband, I can even go to the grocery store again. So like in my mind I'm like, Oh, this is not going to be worth it for her. But all she wanted to do was do these little things around the house that gave her value, that was valuable to her. And she and her husband like thanked me profusely because she felt so much better because of the injections. And I'm like, wow.

Speaker 1: (11:24)
Like I've, I've felt really, really good about that. And she was so happy and less left us a great review on our, on our website. And so like that, like that, that's worth it. Right? And so when you're, when you're thinking about like, will people pay for it? Are there people in my town that want to have this done? They're out there. They're looking for solutions. They're just looking for the right office and the right doctor to provide this therapy for them. So, um, if that's your thought, like you need to like get out of your head, like you put people barriers in, in their, in their brain that aren't really there, this is a real solution. People are looking for these types of results and you just need to connect with these people in your community. So, um, so this is the value of high ticket, the high ticket sales and high ticket highway.

Speaker 1: (12:07)
Um, I can't say enough about how much value this provides to your community and your office when you don't have to see a thousand patients a week to be profitable in your office. So listen, dog, I hope you found this valuable. This was part four of, uh, of the seven figure shortcut. And make sure to jump on the next podcast, which is, uh, episode number five and we'll cover that on the, um, on the next podcast. So thanks for joining me. I hope you have a great day, doc. Hope you found this valuable and I'll talk to you soon. Bye. Bye.

Speaker 2: (12:40)
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 Implicity 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.

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