Chiropractic Clinics

Industry Profile Report

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

Industry Overview Current Conditions, Industry Structure, How Firms Operate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.

Call Preparation 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

                                Recent Developments

                                Nov 8, 2022 - Industry Hit Hard By Workforce Exits
                                • An estimated 333,942 healthcare providers dropped out of the workforce in 2021, according to Definitive Healthcare. The physician specialties hit hardest by workforce exits are internal medicine (-15,000 providers), family practice (-13,015), clinical psychology (-10,874), chiropractic (-10,662), psychiatry (-8,629), optometry (-8,292), anesthesiology (-7,459), pediatric medicine (-7,330) and emergency medicine (-5,530). Combined, these nine specialties saw the loss of 86,791 physicians in 2021, according to Definitive's analysis.
                                • The future of chiropractic care is moving toward full-service wellness clinics, according to Chiropractic Economics magazine. Clinics are adding wellness services such as massage therapy, cupping, nutritional supplementation, and X-rays in a move to take a deeper look at patients’ long-term health goals and help with more than just improving back pain. Clinics are also trying to avoid what is known as “White Coat Syndrome,” where people have anxiety and high blood pressure when entering medical clinics. A common approach is to provide a spa-like atmosphere where patients can relax during treatment.
                                • Few workers receive chiropractic care for low back pain in states where employers or insurers control the selection of medical providers, according to a recent study of workers’ compensation data by the Workers Compensation Research Institute. A dozen of the states had fewer than 5% of low back pain claims include chiropractic care: Nevada, Michigan, Tennessee, Virginia, Missouri, Indiana, Florida, New Jersey, North Carolina, Georgia, Arkansas, and South Carolina. All but one of those states – Michigan – allows employers or insurers to select medical providers. Minnesota was the lone state for which more than 30% of low back pain claims included chiropractic care. That percentage exceeded 20 in three states: Wisconsin, California, and New York. Delaware, Massachusetts and Maryland had the next highest percentages of low back pain claims to include chiropractic care – each above 10%. All seven of these states allow workers to choose their own medical providers.
                                • 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.
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