For Healthsource Chiropractic, what does it mean when a patient converts to a treatment plan?
Healthsource_Chiropractic Franchise · 2025 FDDAnswer from 2025 FDD Document
ting Franchisees" are the Qualifying Units that returned sufficient cost data to be used in the study. There were 74 Participating Franchises for the 2024 fiscal year.
"Patient" means a customer of a Clinic that converts to a treatment plan, which generally occurs after two initial visits.
"Patient Visit Average" or "PVA" means the number of visits a Patient has divided by the number of Patients. This data is gathered from our HSWorx billing software.
"Qualifying Units" are Clinic franchise outlets that have opened and have reported revenues and patient statistics through the HSWorx billing software for the entire 2024 fiscal year, which requirement excludes eight Clinic franchises whose term expired, thirteen Clinic franchises that opened mid-year, one clinic franchise that was terminated and four Clinic franchises that ceased operations.
Source: Item 19 — (FDD pages 64–71)
What This Means (2025 FDD)
According to Healthsource Chiropractic's 2025 Franchise Disclosure Document, a 'Patient' is defined as a customer of a Healthsource Chiropractic clinic who commits to a treatment plan, typically after their first two visits. This conversion to a treatment plan is a key metric that Healthsource Chiropractic uses to evaluate the financial performance of its franchises.
Healthsource Chiropractic tracks the 'Conversion Percentage,' which is the number of patients who convert to a treatment plan divided by the number of people who only attend one or two visits and do not return for a third visit. This data is collected using the HSWorx billing software. The FDD indicates that for the 2024 fiscal year, 119 clinics were considered 'Qualifying Units,' meaning they were open and reported revenues and patient statistics through the HSWorx software for the entire year.
The 2025 FDD Item 19 details financial performance representations based on data from these qualifying units. For example, it states that in 2024, the conversion percentages ranged from 39% to 93%. The FDD also breaks down conversion percentages by quartile, showing that the top quartile of clinics had an average conversion percentage of 80%, while the bottom quartile had an average of 54%. These metrics are important for prospective franchisees to understand, as they provide insight into how well different Healthsource Chiropractic clinics are able to convert initial interest into ongoing treatment plans, which directly impacts revenue.