Chiropractic Clinics

Industry Profile Report

Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters

Industry Overview Industry Structure, How Firms Opertate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.

Call Preparation Quarterly Insight, Call Prep Questions, Industry Terms, and Weblinks.

Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.

Industry Profile Excerpts

Industry Overview

The 38,900 chiropractic clinics in the US provide care that is focused on the spine and neck to patients suffering from disorders or injuries to the musculoskeletal system. Chiropractors may specialize in sports medicine, neurology, pediatrics, orthopedics, nutrition, or radiology. Some practices offer health and wellness counseling, as well as nutritional supplements.

Competition from Other Providers

In addition to chiropractors, other medical providers, such as physical therapists and osteopaths, can treat patients for back or joint pain.

Growing Acceptance of Chiropractic Care

Changing perceptions of alternative medicine and more rigorous educational requirements have led to gradual acceptance of chiropractic care.

Industry size & Structure

A typical chiropractic clinic operates out of a single location, employs about 3-4 workers, and generates $385,000 in annual revenue.

    • The chiropractic industry consists of about 38,900 companies, which employ 138,500 workers and generates $15 billion annually.
    • Most chiropractors are solo practitioners who own and operate a single clinic. About 95% of chiropractic clinics employ less than 10 workers.
    • No national chiropractic chains exist. The largest chains are confined by state boundaries.
    • Half of all patients suffering from persistent back pain receive chiropractic treatment.
                                Industry Forecast
                                Chiropractic Clinics Industry Growth
                                Source: Vertical IQ and Inforum

                                Coronavirus Update

                                Apr 23, 2022 - Study Finds Chiropractic Care Cost Effective
                                • Treatment costs were 47% less in low back pain insurance claims for which patients were treated exclusively with chiropractic care than those for which patients received another physical medicine treatment, according to Workers Compensation Research Institute economist Dongchun Wang. Indemnity payments were 35% lower for insurance claims that received chiropractic care and temporary disability duration was 26% shorter.
                                • Demand for chiropractic services may slow if the number of new COVID-19 cases continues increasing. New COVID-19 case rates increased in late April, with the seven-day rolling average increasing to roughly 46,000 on April 22, up from 30,000 cases per day on April 8, according to a New York Times COVID-19 case tracker. Experts note that the American population has different vaccination rates, levels of previous exposure to the virus, and degrees of underlying health conditions, so the trajectory of new cases could vary. Cases were rising in 38 states on April 22 and were climbing fastest in Washington, DC, Michigan and New Hampshire, where they have more than doubled since the beginning of April. Several variables — including relaxed precautions against viral transmission, vaccination rates, the availability of antiviral medications and natural immunity acquired by previous infection — may affect the course of any surge in the US.
                                • Health care providers including chiropractors have signed hundreds of pandemic-related medical exemption requests for students in some states, according to education industry publication Education Week. A chiropractor in Venice, FL, for example, provided medical exemption forms for more than 500 children who did not want to wear a mask while attending Sarasota County Schools. The district subsequently adjusted its policy of what categories of medical professionals can sign an exemption. The issue is drawing attention throughout the country as the US Food and Drug Administration prepares to approve an emergency-use authorization for a COVID-19 vaccine for children as young as 5. Many governors have said that decisions about children’s COVID-19 vaccine mandates won’t come until federal officials give permanent approval to the inoculation for all age groups. Some states—including Alabama, Arizona, and Florida—have explicitly prohibited school districts and local officials from setting such mandates. US Secretary of Education Miguel Cardona recently said he “wholeheartedly supports” state and local vaccine requirements for eligible students.
                                • The federal Equal Employment Opportunity Commission said that employees may be barred from the workplace if they refuse the COVID-19 vaccine. "Requiring a vaccine is a health and safety work rule, and employers can do that," said Dorit Reiss, a professor at the University of California Hastings College of Law. There are, however, some exceptions to a blanket requirement. A collective bargaining agreement may require negotiating with a union before mandating a vaccine. The Americans with Disabilities Act allows workers who don't want to be vaccinated for medical reasons to request an exemption.
                                • Many chiropractors say that they’re seeing more patients with back and neck complaints. Industry experts cite the rise of telecommuting as a likely cause of the increase in back and neck complaints, as quickly converted home spaces may not be suitable for work sessions lasting eight hours or longer. Doctor Jaclyn Andrews, a chiropractor with Pittsburgh Chiropractic and Massage Therapy Center, says working from a kitchen table or couch isn’t the best option. “Ideally, you want to have your shoulders rolled down and back and you also want to think about having your neck nice and neutral,” said Andrews.
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