The Millennial Movement: Meeting the holistic care needs of an up-and-coming generation can help your clinic build a strong patient base today and for the future
FRANCHISE
By
Chris Tomshack
DC
A new wave of millennial patients is hitting chiropractic, ushering in a new era for holistic health in America and chiropractic franchising.
Born between 1982 and 2000, millennials represent a quarter of the total U.S. population—nearly 8 million more than the baby boomers alive today—and will account for more than $1.4 trillion in spending per year.
Couple those facts with the results stemming from several recent studies—millennials� aversion to hlgh costs, desire for holistic care options, and general dislike toward large institutions—health care, and ultimately chiropractic, is being forced to cater to younger needs.
As CEO of HealthSource, the world�s largest chiropractic services franchise, it�s quite simple: millennials are leading a movement. They prefer holistic and homeopathic treatments versus surgery and medications, and chiropractic is ripe to service those needs.
In fact, researchers at Grand View Research, a U.S.based market research and consulting company, saw similar results in a 2017 study on patient preferences and adoption rates for a variety of alternative chronic pain treatments. Their findings: more patients, led by millennials, are switching to natural treatments.
The study also found that holistic health treatments are growing at a rate of 17.6% and will exceed $58 billion by 2025.
Personally, I think the millennial path to chiropractic stems from their need for a better life balance. Instead of surgery or taking pain medicine, they are opting for stretching, massage, yoga, and chiropractic adjustments.
The millennial effect echoes the data of HealthSource as well. With nearly 200 clinics nationwide, HealthSource finished 2019 with positive earnings, buoyed by quarterly promotions that highlighted the benefits of alternative treatments versus opioid prescriptions to address chronic back pain. Collectively, the clinics gained 37,000 new patients, up 21% for the year. Revenue was also up 11%—fueled, in part, from a 15% growth in our millennial segment.
Personally, I think the millennial path to chiropractic stems from their need for a better life balance.
As a result, we�ve invested heavily in digital tactics, including a $1 million website overhaul, hundreds of thousands spent in digital advertising, and the addition of a Digital Manager position to ensure clinics have everything they need to remain at the top of millennial search needs. Services such as wellness programs and supplements have also been packaged to meet their on-the-go lifestyles.
Our data tells us that it�s all about treating the whole patient. Those clinics offering only chiropractic evaluations and adjustments are addressing just one part of a patient�s needs. Nutritional supplements, massage, progressive rehabilitation, orthotics, and other treatments complete the life-balance package that today�s patients expect and deserve. This is what millennials want, and this is the standard clinics must meet to succeed.
Whether the profession is ready or not, chiropractic must meet the needs of its new generational demographic. HealthSource has heeded the call and is prepared to welcome our future generation of patients with open arms.
About the Author: Dr. Chris Tomshack is the founder and CEO of HealthSource - America's Chiropractor®, the largest and fastest-growing chiropractic franchise in the world, with more than 200 domestic and international clinics serving more than 10 million patients. For more information on HealthSource - America's Chiropractor, visit www.HealthSourceFranchise.com
