Welcome to the Planning for Practice Success Newsletter

 Practice Startup Success

Information Advice Encouragement

May 28, 2007                                                                                     ISSN 1934-3248

 "Your dreams are your real job."                Joyce Spizer

In this issue:

State Sales Tax.  Is chiropractic care a taxable service?  Depends on the state.  Here is a list of states with state sales tax rates and links to Department of Revenue websites.  Note that many states also have a variety of local option surcharges.  Sometimes the county adds on, sometimes the city, sometimes both.  You may not have to collect sales tax on chiropractic services, but you probably will need to charge tax on those pillows and supplements.  Here is the website:  http://www.thestc.com/ta.cgi?STRates

Debit vs. Credit.  As you consider setting up your office to take credit card transactions, consider the benefits of accepting debit cards.  The per-transaction costs for the merchant (that’s you) are much less if your patient pays with a debit card than a credit card.  The major difference in the transaction is that the person uses a pin to authorize the transaction rather than a signature.  If you want to accept debits, you’ll need a small pin keypad. Giving patients the option may make sense for both of you.  If you want more details on accepting credit and debit cards, I have written a booklet called “Accepting Credit Cards” which is available on the DC Practice Success website: http://dcpracticesuccess.com/practice_success_bookstore.html

Investing in a friend’s practice.  I recently heard about someone who invested as a “limited” partner in a friend’s practice.  He didn’t require anything in writing, just turned over $10,000 and agreed to stay out of the day-to-day running of the business.  As you can guess, he lost both his money and the friendship.  My rule of “get it in writing” is much more important with friends and family.  The investor didn’t check out the business, didn’t ask for reports, and had no way to step in when things started going downhill, since he was only a limited partner. 

Celebrity Testimonials.  Any testimonial is a huge value to your practice.  And local celebrities are great as spokespeople (is that a word?).  A celebrity can be anyone from the local news anchor to a high school athlete to a business leader.  Even the PTA President can be effective as an influencer.  Never pass up the chance to get a testimonial, and don’t be afraid to ask.  The best time to ask is when you have been successful with a patient and he or she expresses gratitude.  I’ve found it’s easy at that point to say, “Would you be willing to put that in writing?”  Then ask if the person will dictate something to you or a staff person.  Ask if you can use a picture.  And get out your release form for them to sign to make sure the agreement is in writing.  ( I have attached a sample release form to this newsletter.)

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 Ask Dr. Jean Murray a question (email jean@dcpracticesuccess.com )
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Release Form

Practice name

Address

City, State Zip

Permission to Use Testimonial/Photograph:

I grant to [practice name], its representatives and employees the right to use my testimonial [attached] and to take my photograph in connection with the testimonial.  I authorize [practice name] its assigns and transferees to copyright, use and publish the same in print and/or electronically.

I agree that [practice name] may use such photographs of me with or without my name and for any lawful purpose, including publicity, illustration, advertising, and Web content.

I have read and understand the above:

Signature _________________________________

Printed name ______________________________

Organization Name (if applicable) __________________________

Address __________________________________

Date _____________________________________

Signature, parent or guardian _______________________
(if under age 18)