HealthSource Posts Strong 4Q Results
Schedules 17 New Clinic Openings in Q1
March 01, 2018 // Franchising.com // Cleveland, Ohio - HealthSource, America’s leading franchise group of chiropractic and holistic care clinics, is experiencing strong patient and revenue growth, with more Americans looking for non-surgical and non-prescription treatments for pain as a result of the opioid crisis. To manage this growth, the company is launching a marketing campaign to attract both new chiropractors and entrepreneurs to open and manage clinics.
HealthSource finished 2017 with positive earnings, buoyed by a strong fourth quarter promotion. The promotion highlighted the benefits of alternative treatments vs. opioid prescriptions to address chronic back pain. HealthSource gained 16,000 new patients, an increase of more than 11% in the quarter. Revenue was also up 16%, and the franchisor has 17 new clinics scheduled to open in the first quarter of 2018. Future growth also looks strong, as more Americans suffering from chronic back pain are expected to employ chiropractic, massage and physical therapy versus surgery and prescriptions. In addition, states are modifying their workers’ compensation rules, prohibiting surgery as the first option. Ohio just enacted the new regulation, along with restrictions on opioid prescriptions. Colorado, Minnesota and Washington already have restrictions on surgery as a first course of treatment, and other states are considering changing their workers’ compensation regulation as well.
According to a 2017 study conducted by Grand View Research, the Complementary & Integrative Health category is growing 17% annually in the United States, and is expected to reach $58 billion by 2025. This health category, as defined by the federal government, includes such services as chiropractic, massage, nutritional supplements and progressive rehabilitation, all services offered by HealthSource.
Dr. Chris Tomshack, CEO and founder of HealthSource, expects the changing consumer trends for non-invasive pain treatment to continue. “The opioid crisis has opened the eyes of many Americans that pills and surgery are not necessarily the best way to address pain,” said Tomshack. “Millennials in particular are leery of taking prescriptions, and prefer holistic and homeopathic treatments versus surgery and medications.”
HealthSource, a national holistic care and chiropractic franchise, treats pain throughout the entire body, sciatica, fibromyalgia and other common concerns, and also focuses on pain prevention and nutrition. The company continually implements new treatments and medical advancements, staying on the cutting edge of medicine. HealthSource began franchising in 2006 and more than 250 domestic and international locations. For more information about HealthSource, visit www.healthsourcechiro.com.
Vice President of Marketing
P: 440-934-5858 x 206