What to expect your first year as a chiropractor depends first and foremost on whether you are hired as an employee or run your own practice. Chiropractic employees typically work for other chiropractors or for Western medical doctors. This scenario tends to be much more limiting in its long-term potential, as one will often seek out employment for immediate financial stability. Beneath is some of what to expect your first year as a chiropractor.
The range for chiropractic employees can be anywhere from $30-100,000 per year depending on a number of patients seen and the agreement worked out with the employer. In the clinic I worked at, the staff chiropractor told me he made $40,000 per year and saw about 120 patients a week on his own. (He was not very thrilled with this arrangement).
What is perhaps more important than the annual salary is the amount made per patient. In the above scenario, the doctor was making very little per patient and per hour, which is why he was so frustrated with this arrangement. As a practice-building consultant, I advise new practitioners to only seek out employment if they have no means to start their own practice. In my experience, it is rare for chiropractors to find total fulfillment as employees.
Building a private practice, of course, comes with its own set of potential pitfalls and challenges. As a business owner, one’s salary depends on 3 essential factors:
a. Mind-set – Developing a mindset of success and prosperity is vital to one’s level of income.
b. Marketing – The most lucrative practices are the ones who have developed their marketing skills.
c. Communication – Chiropractors who know how to educate their patients and build rapport will undoubtedly end up making substantially more money than those that don’t.
If all 3 of these factors are well-integrated and developed, the practice can definitely gross a high 6 figure or even 7 figure incomes. If any one of these is deficient, however, one’s level of income will be substantially reduced. In my experience, the average chiropractor in private practice pays themselves about a range of $45-75,000 per year.
Please keep in mind that ‘average’ in this sense is just that; it means that one of the 3 factors listed above is missing or imbalanced.
The chiropractic profession is certainly one that has tremendous potential for financial success and personal fulfillment. What is most important is to develop the business, marketing, and mindset skills that directly lead to increased financial worth.
2. Rewarding work
A chiropractor’s work is very rewarding. Chiropractors help individuals to improve their overall health and wellness, avoid injuries, recover from injuries, and manage or eliminate pain and dysfunction.
3. Respected work
Chiropractic is recognized by the National Institutes of Health as an effective healthcare practice. Researchers worldwide have published studies and continue to study and report on the many positive effects of chiropractic care. Chiropractors have helped millions of people rehabilitate from chronic and debilitating back pain in Baxter MN and dysfunction. Celebrities, professional athletes, and military veterans are among the many who have been helped by chiropractic and who act as spokespersons for The Foundation for Chiropractic Progress.
4. Professional state license
A chiropractor can only practice in the state or states where he or she is licensed. All states require a passing score on the National Board of Chiropractic Examiners test in addition to the Doctor of Chiropractic degree to be eligible for a state license. This helps to ensure the quality and integrity of the profession.
5. Proactive care
Chiropractors are advocates for healthy lifestyles and injury prevention. They regularly treat patients for general health and fitness to prevent injury before it occurs. Many athletes see a chiropractor as part of their training regime. The health benefits received from chiropractic care can lead to a greatly improved quality of life.
6. – Holistic care
Chiropractic is an all-natural healing and wellness healthcare practice. It has helped millions of patients worldwide to avoid the high costs, risks, and potential side effects commonly associated with pharmaceuticals or surgery.
7. Covered by most health insurance
Medicare and most health insurance companies cover chiropractic visits. Research has shown chiropractic to be an effective preventative and rehabilitative therapy. It has helped many people avoid costly and invasive surgeries.
8. Job outlook good
According to the U.S. Department of Labour, Labour of Bureau Statistics, “employment of chiropractors is expected to increase 20 present between 2008 and 2018, much faster than the average for all occupations.”