Dr. Andrew Harris, Co-Owner
Florida Spine and Wellness Institute
Dr. Andy worked for many years as an electrical engineer, but he aspired to become a physician. After suffering from a severe rugby accident, he discovered that physicians could not rectify his physical condition. But a chiropractor did heal him so Dr. Andy decided to become a chiropractor. He and his wife Dr. Heather started a practice in Pennsylvania and served around 300 patients per week for 15 years. Recently they sold their chiropractic practice and moved their four children to Ormond Beach, Florida. His new practice has been operating for less than a year.
SWOT Analysis
Opportunities/Mission
The mission of the Florida Spine and Wellness Institute (FSWI) is to educate and adjust as many families to optimal health as possible. FSWI provides the safest, most effective, and medically proven treatments to their patients and coaches them to achieve optimal health.
Threats/Target Market
Each state has different insurance reimbursements. Florida’s insurance reimbursements for private insurance are not as strong as those in Pennsylvania. FSWI’s target market tends to be local women between the ages of 25 through 65 years. Women are the gatekeepers to health for their families and tend to encourage their husbands and children to seek chiropractic care.
Strengths/Specialty
Dr. Andy’s greatest strength is his ability to educate his patients. The similarity between an electrical system and a nervous system makes the switch from electrical engineering to chiropractic an easy transition. Like an electrical system, a spine is a structure that requires maintenance to stay strong and healthy throughout a lifetime.
Weaknesses/Suppliers
Dr. Andy has belonged to professional chiropractic consulting groups since his graduation from the Chiropractic College. These groups have helped him to market, retain, and provide top quality services to his patients. Dr. Andy feels that Chiropractic College taught him to be a good chiropractor, whereas these consulting groups teach him how to be a good businessman.
Marketing Mix Decisions
Products and Services
FSWI’s practice alleviates symptoms, corrects spinal problems, and coaches patients to engage in a healthy lifestyle.
Distribution
Dr. Andy belongs to networking groups such as Business Networking International and the Ormond Chamber of Commerce. He also networks with local gyms, trainers, and other health-related professionals in the Ormond Beach area.
Promotion
Each month, FSWI offers five outside marketing events. Three events are usually for charities and two are lunch and learn speaking events for local businesses, churches, and civic groups.
Pricing
Presently, 85 percent of the patients pay cash for services rendered. His fee structure is competitive with local chiropractors, but Dr. Andy feels prices could be increased because of the level and quality of the services he provides. FSWI encourages families to receive care and provides affordable family plans.
Taking Action
Prospecting
Dr. Andy expects to continue to grow his business through referrals and customer loyalty. He builds recognition and his brand through visibility at civic, social, and school events. The best return on investment has been screenings and lectures, rather than through direct marketing.
Customer Service
Dr. Andy creates great patients by educating them about the possibilities and coaching them to engage in a healthy lifestyle. If a patient has a severely negative attitude, Dr. Andy referred the patient to a chiropractor that may be more suitable for that individual.
Budgeting
Each month Harris budgets $1,000 for events and about $300 for marketing materials. Dr. Andy has not hired a receptionist because his software can handle administrative matters. His records show that 97 percent of his patients do not miss appointments.
Action Plan
Dr. Andy helps people correct structural problems with their spine and offers an advanced scoliosis program to rehabilitate patients. The program stretches ligaments, decreases curves, and improves function while minimizing scoliosis. He will be hiring an assistant to implement and oversee this program and to set up and instruct patients in treatment protocols.
Who specifically is Dr. Andy’s target market?