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Our Biggest Challenges to Compete in Wellness Care
In the first article in this four-article series [May 1 DC], I made the case that chiropractors should either embrace offering lifestyle wellness in their practices or face the possibility of losing their place in the wellness care marketplace.
Green Tea Improves Cognitive Function in Elderly Subjects
Publishing their results in the journal Nutrients, in May 2014, researchers showed that drinking the equivalent of 2 to 4 cups of brewed green tea (or bottled tea) daily improved cognitive function or reduced the progression of cognitive dysfunction in elderly subjects.
The Nectar of Plants: Essential Oils and Chinese Medicine
Essential oils are a very hot topic these days, especially with the likes of the Ebola virus and the resurgence of measles lurking in our awareness, but when I first became interested in Chinese medicine, essential oils weren't on the radar screen for acupuncturists.
Spieth Thanks His Chiropractor After Historic Masters Win
Jordan Spieth didn't just capture the hearts of golf enthusiasts worldwide with his record-setting, wire-to-wire victory at the 79th Masters Tournament.
Breath: The Movement of Oxygen and Energy
I remember with surprising clarity the first time a patient started crying during an acupuncture treatment I was giving. This is now quite a long time ago, back in 1999, when I was a student.
Green Tea Improves Cognitive Function in Elderly Subjects
Publishing their results in the journal Nutrients in May 2014, researchers showed that drinking the equivalent of 2-4 cups of brewed green tea (or bottled tea) daily improved cognitive function or reduced the progression of cognitive dysfunction in elderly subjects.
Marijuana, Apathy and Chinese Medicine, Part 2
A talented young woman presented herself with emotional mood swings, which included being nervous, anxious and jittery.
The Year to Make Things Happen
It is hard to believe that the Year of the Ram – 2015 is half over. Time seems to be moving especially fast. This is the year for things to happen for the acupuncture profession.
Reducing the Autogenic Inhibition Reflex: Making Weak Muscles Strong
The autogenic inhibition (AI) reflex is a sudden relaxation of a muscle in response to excess tension.
Giving Vets the Care They Deserve
The Department of Veterans Affairs (VA) administers the largest integrated health care system in the United States.
A Poor Choice for Pain Relief
Acetaminophen is the most popular pain reliever in the U.S., accounting for an estimated 27 billion annual doses as of 2009. With 100,000-plus hospital visits a year by users, it's also the most likely to be taken inappropriately.
Use Technology to Gain New Patients and Improve Efficiency
From the smartphone in your pocket to your microwave oven, advancements in technology have made almost every aspect of our lives easier.
Acupuncture in the U.K. Today: A Personal View
When asked to write a short piece on the current state of the U.K. acupuncture profession, my first response was to say it has all been relatively quiet.
How One Little Symbol (#) Gets You More Patients
Are you struggling to get more fans or followers for your acupuncture practice? Or are looking for ways to simply connect with your patients? Or do you just want to know how to keep them engaged (comments, retweeting, liking and sharing)?
The Source-Luo Point Combination
The luo collaterals are part of the acupuncture channel system presented in the Su Wen and the Ling Shu (The Nei Jing). The function and clinical application of the luo mai are primarily presented in chapter 10 of the Ling Shu, however, they are also found in others chapters in the Su Wen and the Ling Shu.
What Does Success Mean to You?
Recently, I was asked to speak to young, budding businesswomen about running a successful business — and at first I thought, "Me? You want me to speak to others about success?!"
The Modern Acupuncturist
You studied ancient Chinese medicine, but I'll bet you don't practice it! Contrary to popular belief, our medicine has evolved A LOT over the years. Let's take a brief walk through history and discover the differences between ancient and modern acupuncturists.
Calculating Billable Units
I recently learned of an office that was audited based on the number of acupuncture sessions performed in one day. Is there a maximum number of sessions that can be performed in one day?
Acupuncture and the Pulse
In 1991, I attended a martial arts workshop hosted coincidentally by Sung Baek, a martial artist and the head of his lineage as a Korean trained acupuncturist. I was enamored by the details Sung could attain from the pulse, as told to me by some of his apprentices.
First Do No Harm?
There's no questioning the frightening nature of breast cancer, which strikes one in eight women in the U.S. – eclipsed only by skin cancer in terms of prevalence.
TMF 2015 Scholarships
The Trudy McAlister Foundation (TMF), a nonprofit organization established to support students who are on track to make contributions either to clinical practice and/or to the understanding of the role of Traditional Oriental Medicine, has announced the 2015 scholarship recipients.
Professional Credentialing and Board Certification: An Ethical Faux Pas
Because of the Affordable Care Act, health care systems are coordinating care through accountable care organizations (ACOs) in order to reduce the cost of care and improve quality of care.
We Get Letters & Email
A House Divided? (May 1 issue) provoked significant response from readers. Here are several of the surprisingly similar comments we received.
Rethinking Musculoskeletal Pain – A Public Health Perspective
The American Public Health Association (APHA) is the world's oldest and largest association of its kind, founded more than 140 years ago and boasting over 25,000 members.
ACA or ICA: Which Best Represents You?
Last June, I was honored to represent Texas ICA members as their representative assemblyman at the ICA Annual Meeting in Kansas City.
April, 2002, Vol. 02, Issue 04
Building a Successful Spa: Step Four -- Budget/Financing
By John Fanuzzi
In the past three issues, I've covered some of the creative aspects of opening a successful day spa. If at this point you know your theme, location, and have a feel for the size of the spa you have envisioned, it's time to get down to some of the more concrete business stuff - such as an evaluation of site demographics; startup cash requirements; cash flows and projections both for startup and for operations; and sales goals with break-even points for each profit center within the business.
Before you go to the bank or to money partners, a business plan should be prepared.You have to sell your idea. The more homework you do, the better chances of success. The banker surely will want to know:
Even if you don't need financing, it is still good to go through the planning process, just as if you were going for a loan.
To determine the size of the project and the money required, I recommend building an interactive spreadsheet, one in which you create input boxes that will generate formulas of cash flows for each profit center. The summary of cash flows for each profit center will then flow into a master summary sheet. This gives you a tool for dialing in all of your scenarios and break-even points, and determining the size of the project. It will also become your daily performance sheet after you open your spa; by monitoring the actual numbers, you can see where your strong and weak points are and readjust your cash needs accordingly. This way, you can make adjustments before it's too late.
Here is an example of a startup sheet:
In this scenario, the startup treatments are only five per day, even though there are four rooms with a potential of 32 treatments per day, at the normal eight hours worked per day with one-hour sessions. All of the numbers in the boxes are changeable. All of the other numbers are the result of a formula affected by the numbers in the boxes.
One important thing to know is the break-even number of treatments per day and month. The key numbers will feed into the cash flow sheet, which gives you your cash requirements. Create an entry sheet and a cash flow sheet for each profit center. Some of the profit centers might include front desk and retail, facial room, wet room, fitness, nails, and guest rooms.
The final page (see below) is a summary sheet, into which all the totals from the individual cash flow charts flow into a master cash chart with required startup amounts. Many businesses do not even break even for the first 1 1/2 to 2 years, so that must be figured in when you do your startup numbers.
It is always good to set goals and post and chart your daily numbers, so your entire team can work together toward a goal. The daily keeping of performance will help you make the proper adjustments to stay on target.
If you've done a good job on your creative planning, this financial planning will bring your ideas down to earth. After you know your cash needs, and after you have a commitment from your banker or investor, you will be ready for some serious design work, which will interface with the budget you have just created.
That brings us to next month's topic - design. In the meantime, have fun!
Click here for previous articles by John Fanuzzi.
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