Academy of Chiropractic
Quickie Podcast 1288
Marketing 159 G
Preamble: Many of the issues I bring to you are very small, yet each issue is just that, an issue. If you take care of the small issues, then you will be able to build and more importantly, focus on the bigger issues...a larger practice and more family time. -Mark Studin 2006
Training the lawyers how to settle during COVID
Dr. Studin: I'm all with dr. Eric Smith from Cedar park, Texas.
Guest: Good afternoon, Mark. Okay. So I just did a whole huge program with a law firm. And you want this to kind of interview me to learn about what I did and I want to share with you and every one of our members, what happened. So the floor is yours.
Dr. Studin: So you were discussing with me earlier, before we started recording about being able to present to a very large group of lawyers or a large practice. Um, and of course you mentioned settlement time. And as any of you out here, listening to this podcast, you know, that have cases that are not going to try right now because of COVID and they're not going to be going to trial for Months to years, not months, Years, years, years, years. So what, what important pieces of information did you, did you present to these lawyers to help them understand how we can arrive at, at settlement that's realistic? So, so they can, they can get cases resolved and settled. So, what were some of the things that you did right.
Guest: Just to clarify lecturer to one law firm, it was a large law firm in New Jersey, um, and they called me and they wanted me to help them with settlements, because like you said, it's settled season because the carrier are, or the courts are backed up through the COVID at least two years. And the courts are being very emboldened to exceedingly low ball, the attorneys, especially the larger firms now, because they're the ones that get it. And of course the carriers a lot of money. So what they, the lead attorney actually has heard me speak many times and he called me up and he said, I want you to just teach us Colossus. That's it just Colossus? I mean, and I says, well, if you want me to give you a soundbite now, um, he said, yeah, we just want soundbites. And I said, well, I can't do more.
You know, it's not going to work with just a soundbite. And he says, we only want soundbites, because if you do more than that, we'll just, our guys are going to be up in arms. They're going to hang up on you. It was a zoom meeting. I said, okay. So I, you know, I laughed and I sat in my thought and, um, Aaron, I mean, you've been around lawyers and, you know, well enough that, um, soundbites really barren. Don't be afraid to interject, to focus my conversation with him in time. Not, I just don't want to talk unfettered. Um, so soundbites don't really work. It's gotta be demonstrative. Absolutely. Um, so I started by telling them four things. Number one, that Colossus is an algorithm and the algorithm is a moving target because it changes from carrier to carrier. And it changes from office to office, even within the same carrier.
And it's driven by, um, uh, case reserves. It's driven by, uh, deadlines for them to clear cases off their desk. It's driven by bonuses to individual workers and the insurance company's claim reps, and the driven by prejudices, not just against chiropractic, but against GPS or physiatrist or pain management, anyone that's not an ortho neuro or neuro search. There's a lot of PR. So all of those things are variables. And I explained to them that if you're not a significantly litigating firm, that you're going to be held in low regard, and there's a good chance that you will get lesser and lesser settlements each time. So I said, very variables upfront. And I went on to explain that this is not settlements, you're not. And I wrote caveat, caveat, emperor. And the caveat is, is settlements as a rule, do not carry the day, the demonstrative of information rules of the day.
Um, and that's the important, and they have to know that. So I'm going to give them soundbites, but it has a lower probability because your lowest level of reimbursement is from the claims rep. The next level is their supervisor. Then it's put it into the lawsuit just the 11th hour before trial a pre-trial settlement. And then their highest level of reimbursement potentially is verdict, which they can't get to right now. Right. Um, so I started with diagnosis, uh, and I explained all about diagnoses and relative weights and making sure that you have a diagnosis for every intake. I went into, um, uh, strain sprain. I went in through arthritis's. I want to do pre-existing herniations. Um, I talked about, uh, uh, uh, functional losses duties under duress and loss of enjoyment of life. I discussed all value drivers. I taught them how to ask the claims rep and, and say also to ensure for the claims rep that this is in their computer.
So Colossus can value it and use those words. So I went through all of those things and in very specific detail, and I also offered, and this segues into the exit strategy, I also offered to, if they want to create the monster, the documentation on any disc issues, then I would graphic up, um, you know, anyone at any one of their, their, their MRIs. And for each level, you know, I get $400 an hour at each level, takes me about a half hour to do like to do C2 or C3 or C4, and just graphic everything up and write about it, talk about pre-existing stuff. You know, I gave him that opportunity or to do the entire case, but again, it's a $400 an hour, and I average about 12 to 15 hours a case. You know, if it's a more significant case that they have, but they're looking at a churn and burn all their stuff.
And they were so excited. They want me to come back in a few weeks and do it again, and they want to be able to call me and ask me questions. So this seemed to me like an incredible opportunity for our, for everyone in our, in our, in our phone to, um, to reach out to the attorneys and say, this is settled and seasoned due to COVID. I mean, I want to work with you to help give you sound bites, and I could feed those to everyone. And you know, what Moyer would want to learn a soundbite, even though the caveat is they have to use you at a higher level in order to get where they want to go. All right, I'm done. So what would you want to know about anything about how to get it done, uh, how to get it started? What specifics or is that pretty clear?
No, I think it's, I think it's pretty clear because you're, again, you're, you're wanting to paint the picture for them and, and I've done similar things in other cases where we've taken the MRI's and drawn arrows and labeled stuff and identified, you know, high intensity zones and, you know, high signal in the disc and, um, correlating it with what the clinical symptoms are, you know? Um, so it, it works and I've seen good settlements because of that. Um, in those, in the lawyers that I've, I've done similar work for. So when you, when you bring that up, you know, from our standpoint as the clinicians, how, how can we get more of those cases? What's the best way to engage, you know, with, with more law firms, to be able to, to say, Hey, we want to be able to do this to help to help your, your clients. Um, is there a specific strategy?
So the question is what's the hook, right? You know, talk in marketing terms, you have to have a hook, uh, what's it's settlement season COVID has pushed the courts back two years. I mean, this is called an opportunity, right? I mean, I hate, I hate to profit on someone else's, you know, misery and I mean that sincerely, but I'm really not. I'm just filling a need. That's out there, especially now. And if you're hunkered into your office and you're not out there at least digitally, or at least telephonically to communicate with people, then you're, you're planning on failing, right?
So this is, this is an opportunity. And the time is like right now, right now. And by the way, if you're over the age of 40, you should be doing that exit strategy program with us. And by the way, we just added two more sessions because it was so popular. Have all, we have 20 seats. The first session filled up in about three hours. The second session filled up in the next day and a half. And I still have a bad, minor, 10 seats left in the third session. Um, and we're doing them. The first is November 7th, which is full November 21st. We have a few of those seats I shifted around. And then January 7th, we have a few seats left. Um, but that's, that's what this is about really. And it's not just for COVID, COVID just makes it a cute, but being able to do this with the attorneys, to write their cases up, to work with them and create, suggested language, by combining all the reports in case they want to present suggested language to another one of their, um, of their specialists or using your credentials, all of these things are out there.
And that's a program that honestly takes five to 10 years to cultivate. It just doesn't happen overnight. It takes time. I mean, how many years did it take you? Um, you know, when you were big between now and when you were young and stupid or younger and stupid, or how many years did it take you to get to that point?
Yeah, it took, it took some, it took a lot of work and it took years because you're developing your knowledge and skillset. Plus you're also developing your relationships as well.
Yeah. And when you deal with that exit strategy stuff, it's not about you. Like now, the lawyers are looking to, to motivate their run of the mill. Um, the exit strategy is only about those two or three really high end cases that the lawyers have. If you want to, you know, that you want to really get to, but this was, this was, this was beyond the home run because this guy really challenged me to the core. And he was like very specific about what he wanted about what the needs of the lawyers are. And this is New Jersey. This is our bellwether state. This individual lawyer has been giving me advice about the most challenging aspects of New Jersey. And, and over the years we've overcome almost every single one. And if it works in New Jersey, it works anywhere because there's Jersey is a tough, tough state. So I think we hit the nail on the head. Okay. Anything else? Cause I'm pretty much done unless you have anything else you want me to talk about? I, I don't, I don't, but Aaron, thank you so much. All right. Bye. Bye.