Ethics and evidence-based practice are "inextricably" linked, according to Charles A Simpson, DC, DABCO, a presenter at the 2018 National Chiropractic Leadership Conference (NCLC). Over his 40-plus year career in chiropractic and through his work as a health care workforce regulator, Dr. Simpson has witnessed ethical highs and lows among health care providers of all types. His experience has left him with keen insights into how to run a practice ethically as well as successfully.
Practice compliance and success are not diametrically opposed!
After serving as the president of the North Carolina Chiropractic Association, Kevin Sharp, DC, a presenter at NCLC2018, realized that many of the chiropractors in his state lacked a clear understanding of how to effectively code and manage the business side of their practices. Since then, he has devoted himself to teaching thousands of doctors and their staff how to effectively code, document and be compliant in their practices in a way that motivates them. "When you can break down the barriers of this aspect of what we do, doctors can free themselves up to focus on patient care," he writes. "In addition, I show doctors how a compliant practice can be profitable—which many think is diametrically opposed! You can run a compliant practice and make it profitable at the same time."
Selling a practice can be a stressful event. Most DCs are so focused on healing patients they don’t have the time for, or the interest in, learning about business valuation. How do you sell a practice? Is it time-consuming? Expensive? Are lawyers required? How do you find the right buyer? How do you determine a fair price? For some chiropractors, this process may seem so daunting it is simply easier and less stressful to put off the decision. The good news is that selling a practice is not as arduous as it may seem.