💸 Do You Charge Enough for Acupuncture Treatments?

published 1 YEAR AGO | 5 MINS READ

A few years ago, I did a project at Pacific Symposium where I went around and asked people:

What's the number one piece of advice you would give to someone who is just starting out with an acupuncture practice?

One of the common responses I got was: You need to charge more money.

Too many acupuncturists undersell themselves, give discounts before the patient even asks, and just don't charge what they're worth.

Here we're going to talk about why charging more money can be a good thing.

Why You Should Charge More

When it comes to charging more for your acupuncture treatments, I think it goes beyond simple things like, "You're worth it," or, "You deserve it."

There are actually some very practical reasons:

Price = Value

I remember once walking down the street and seeing a flyer that proudly proclaimed: 1-Hour Massage: $30!

Now I'l be honest; when I saw that flyer, my reaction was NOT, "Wow, what a great deal! I should definitely check this out!"

Really, my initial reaction was, "$30? That sounds like a terrible massage."

You may not agree with this on a philosophical level, but, like it or not, people tend to equate price with value.

If you charge too low of a price, people will think you're just not a good acupuncturist. If they see an $80 acupuncturist next to a $120 acupuncturist, most people will assume that the more expensive one is better, more experienced, and gets better results.

When it comes to healthcare, you don't want to be the cheapest option.

2. Higher Pay = Easier to Work With

This is kind of a universal truth in all businesses: clients who pay more are generally easier to work with.

When I was first starting out, I gave out discounts all the time. (My logic was, I'm not fully booked, so I'd rather see patients at a reduced rate rather than just sit around in my empty office.)

But I quickly realized that my discount patients were my most difficult patients: they showed up late; they frequently no-showed, cancelled, or rescheduled at the last minute; they called me several times between their appointments; and they just took up more of my time than my regular patients who paid full price.

Now I'm not trying to say that poor people suck or don't deserve your attention. Again, it's a psychological matter of equating price to value. People who pay more tend to value your time more, value your services more, and take the process more seriously.

If you're willing to compromise on your value, then your patient will too.

3. Higher Price = Better Results

In Session 2 of the podcast, we had Lindsay on, and she made an interesting observation: when she was working at the front desk for another acupuncturist, she noticed that people who asked for discounts just didn't get better. The patients who paid full price got much better results.

Again, people who pay more tend to value your services more. They're more invested in the process; they take it more seriously. They're more likely to listen to your recommendations and follow through.

Say you had a personal trainer who charged $20 per hour. How bad would you feel about showing up late or missing a session? If they told you to stretch at night and start eating more broccoli, how likely would you be to follow their recommendation?

But let's say you had another personal trainer who charged $200 per hour. How much more likely do you think people are to show up on time every time? Do you think people work harder during the session and take it more seriously when it costs that much money? Do you think people are more likely to take action on those recommendations because they know it's costing $200 and they don't want to waste it?

So which one of those people will get better results? The one who shows up late, half-asses it, and doesn't follow recommendations? Or the one who shows up every time, works hard, and follows every lifestyle recommendation you give them?

Of course the one who is more committed will get better results.

It turns out that charging more money will yield better results, not because YOU did anything different, but because the PATIENT acted differently.

What About You?

So what do you think? Does it make more sense to charge a higher price? Or am I just becoming a greedy capitalist?

Let me know what you think.