Solo Practice Is Over: Why Group Practices Are the Future of Chiropractic feat. David Michel

What does the future hold for solo chiropractic practices? In this thought-provoking episode, Dr. Lauryn sits down with David Michel, a seasoned consultant and co-founder of PM&A, to unpack his bold prediction: the solo chiropractic practice will be extinct within five years. Together, they explore the economic realities, generational shifts, and systemic challenges reshaping the chiropractic landscape. Is this the end of the solo practitioner—or the beginning of a new era?

David and Dr. Lauryn delve into the rise of group practices, the benefits of shared resources, and how chiropractors can embrace collaboration to stay competitive. From building scalable business models to navigating changing patient expectations, this episode is packed with actionable insights for chiropractors at any stage of their career. Whether you’re a new graduate or a seasoned practitioner, this conversation will challenge the way you think about the future of chiropractic.

Chapters:
00:00 Travel Updates
05:25 Upcoming Webinar
06:20 Guest Bio
11:45 Opening Prayer
13:06 What David Does for Chiropractors
18:19 New Generation Demands Work Life Balance
24:02 OVA, Payment, Commissions
31:39 Unrealistic Expectations
37:32 Partnerships and Group Practices
44:07 How a Merger Works
47:21 Example Partnership
52:17 New Grads Need to Be Associates
55:44 From Associate to Partner
59:10 Chiropractic Will Survive Together
01:09:08 How to Reach David

Key Takeaways:
- The End of Solo Practice: David predicts solo chiropractic practices will disappear within five years due to economic and generational shifts.
- The Rise of Group Practices: Sharing resources and collaborating with other chiropractors allows for lower overhead and greater profitability.
Adapting to Generational Changes: Younger chiropractors prioritize work-life balance and meaningful contributions, signaling a shift in how practices are structured.
- Building Practice Freedom: A sustainable practice model focuses on independence from the owner’s daily involvement, creating more opportunities for growth and balance.

Guest Info:
David Michel is the co-founder of PM&A, a consulting and coaching firm established in 1988 to help chiropractors develop and manage their businesses. With decades of experience, David has worked with a wide range of healthcare professionals, specializing in the chiropractic profession and championing the natural approach to healthcare and the chiropractic lifestyle. He has been instrumental in opening and acquiring 25 chiropractic offices through Chiro-Health Management Services, Inc., guiding doctors toward achieving Practice Freedom—a business model that allows practices to thrive independently of the owner.

Get in touch with David directly: David@pmaworks.com