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Chiropractors
First Research, June 2011, Pages: 10
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Executive Summary
Brief Excerpt from Industry Overview Chapter:
The US chiropractic industry includes about 37,000 establishments (single-location companies and branches of multi-location companies) and 50,000 licensed chiropractors with combined annual revenue of about $10 billion. No major companies dominate. The industry is highly fragmented: the top 50 companies generate less than 10 percent of revenue.
COMPETITIVE LANDSCAPE
Demand for chiropractic services is driven by the aging of the US population and the overall acceptance of alternative medicine and chiropractic care. The profitability of individual companies depends on effective marketing and maximizing billable hours. Large companies have advantages in regional name recognition. Small companies can compete effectively by serving a small community or integrating the practice into a larger holistic health practice. The industry is labor-intensive: annual revenue per worker is about $80,000.
Chiropractors compete with physical therapists and medical doctors, many of whom consider chiropractic treatments ineffective.
PRODUCTS, OPERATIONS & TECHNOLOGY
A chiropractor's major service is treating patients who have pain due to muscular or skeletal injuries. Patient services account for 95 percent of total industry revenue. Other sources of revenue include sales of medical devices, vitamins, and OTC drugs.
Treatment commonly consists of spinal manipulative therapy (SMT), based on the theory that pain is due to misaligned bones. Back pain is the most common patient complaint. Treatment usually includes a series of adjustments, though other services may include nutritional counseling, homeopathy, and various types of physiotherapy such as massage, heat, cold, traction, ultrasound, and electrical stimulation.
Some doctors of...
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