346 - Do Chiropractors Want to Help More People or Make More Money?

For 135 years Chiropractors have been lied to…They’ve been told that you are either in it for the patients - or in it for the money. Nothing could be further from the truth. Where you land on this issue can be the #1 determiner of your practice and business success - and the joy that you experience from both. Most chiropractors say they want to grow, but very few are truly fluent in the language of money. In this final installment of the five-part series on the two sides of the chiropractic coin, Dr. Stephen and Dr. Pete unpack the financial side of a Remarkable Business and why understanding revenue, margin, and profit is not optional for sustainable impact. They clarify the distinction between a healthy practice and a healthy business, introduce the five essential financial KPIs every CEO must master, and challenge the belief that working harder solves financial problems. When you understand how money works, you stop guessing, start leading, and build a business that funds your mission rather than drains it. In This Episode You Will: Understand the difference between collections and revenue in business termsLearn the five essential financial KPIs every chiropractic CEO must trackSee how gross profit margin determines whether your business is truly scalableDiscover why associate doctor models often break financiallyClarify how stewardship, pricing, and overhead directly impact your net profit Episode Highlights 01:53 - Discover the critical distinction between the practice side and the business side of the chiropractic coin and why mastering both is essential for long-term success. 02:30 - Understand that greater impact and greater income are naturally connected when your business is structured properly. 04:40 - Recognize that a remarkable practice does not automatically equal a remarkable business and why both must be intentionally built. 11:40 - Reflect on the limiting belief that making money is enough, when true stewardship requires understanding how money actually works. 12:21 - See how avoiding accounting creates blind spots that prevent optimization and leave profit on the table. 16:09 - Learn why tracking collections consistently is foundational to operational and financial control. 16:39 - Clarify how Collection Visit Average reveals whether you are truly profitable per adjustment. 17:53 - Discover why Monthly Recurring Revenue creates stability, predictability, and long-term sustainability. 22:11 - Understand that gross profit margin determines whether scaling your practice is wise or financially dangerous. 26:28 - Recognize that net profit margin and absolute net profit are the ultimate indicators of financial health and CEO-level leadership. 27:34 - Dr. Kevin Day is joined by Success Partner, Dr. Jeff Langmaid of The Smart Chiropractor to discuss using consistent email communication to improve patient retention, reactivations, and overall profitability. They discuss key metrics like net momentum and lifetime value, emphasizing that keeping and reactivating patients is far more cost-effective than constantly acquiring new ones, leading to stronger, more sustainable practice growth. Resources Mentioned To download your copy of the Practice and Business Metrics, please visit: https://theremarkablepractice.com/podcast-ep346-metrics Learn more about the TRP Remarkable Business Immersion March 6 - 7, 2026 in Phoenix, AZ and March 20 - 21, 2026 in Brisbane, AUS - https://theremarkablepractice.com/upcoming-events/   To learn more about the REM CEO Program, please visit: http://www.theremarkablepractice.com/rem-ceo For more information about The Smart Chiropractor please visit: https://thesmartchiropractor.com/ Book a Strategy Session with Dr. Pete - https://go.oncehub.com/PodcastPC Prefer to watch? Catch the podcast on YouTube at: https://www.youtube.com/@TheRemarkablePractice1 To listen to more episodes, visit https://theremarkablepractice.com/podcast or follow on your favorite podcast app.