Procedure Code Profitability Report
Practice A
Executive Summary
The story Q1 2026 tells at a glance.
$138,232
total collected · Q1 2026
5,077
units of service billed
18 of 42
codes reliable (N ≥ 20)
1
CMT is the clear revenue engine
CMT / 98941 billed 2,070 units and collected roughly $55,700 this quarter — more than 3× any other single procedure, and about 40% of total collections.
2
Best per-unit performers are reliable
Among codes with enough volume to trust (N ≥ 20), new-patient exams (99203, $108.66/unit) and massage therapy (97124, $71.19/unit) lead the field.
3
A few outliers need caution
Weight-loss injections, orthotics, and one-off retail items show high paid-per-unit values on only 1–4 transactions — eye-catching, but not a dependable revenue strategy.
4
Self-Pay and MC/Supp lead the payer mix
Self-Pay (~34%) and MC/Supp (~25%) together drive roughly 59% of collections — a healthy share the practice largely controls.
Belle Curve Insights · Big-Firm Analytics for Chiropractic Practices and Small Business | sandra@bellecurveinsights.com · 239-469-4021 · bellecurveinsights.com
Real analysis from a live pilot engagement, published with the practice's written permission. The practice is not identified by name or location, and no patient-level information appears. Figures are actual results, not illustrations.
How to Read This Report
Procedures are ranked by paid-per-unit — but that only means something with enough volume behind it.
This report ranks each procedure by paid-per-unit — the average actually collected per visit or unit of service. A high paid-per-unit figure is only meaningful when it rests on enough occurrences to be stable, so every code is graded into one of three reliability tiers by its total volume (N).
Low-N — Unreliable
Fewer than 5 units
Paid-per-unit can look very high or very low simply because one or two transactions dominate the average. A single high-dollar sale can masquerade as the ‘most profitable’ line — but it reflects one event, not a repeatable driver.
Caution — Low-N
5 to 19 units
More data than the unreliable tier, but the average can still shift meaningfully with a few more visits. Treat as directional — note the trend, avoid firm conclusions.
Reliable
20 or more units
Enough volume that the paid-per-unit average reflects a consistent pattern across many visits and payers. These are the figures appropriate for staffing, scheduling, and contract decisions.
Recommendation: prioritize the Reliable tier for practice decisions. Low-N outliers are shown for completeness, but should not drive pricing, staffing, or scheduling on their own. In Q1, 18 of 42 codes (43%) meet the Reliable threshold — those anchor everything that follows.
Belle Curve Insights · Big-Firm Analytics for Chiropractic Practices and Small Business | sandra@bellecurveinsights.com · 239-469-4021 · bellecurveinsights.com
Real analysis from a live pilot engagement, published with the practice's written permission. The practice is not identified by name or location, and no patient-level information appears. Figures are actual results, not illustrations.
Profitability Summary
The 23 codes with usable volume (Reliable & Caution tiers), by paid-per-unit.
| Code | Description | Volume | Total Paid | Paid / Unit | Reliability |
|---|
| 99203 |
New patient, detailed |
135 |
$14,669.20 |
$108.66 |
Reliable |
| 97124 |
Massage therapy (60 min) |
200 |
$14,237.17 |
$71.19 |
Reliable |
| CBD5 |
CBD Level 5 jar |
12 |
$803.09 |
$66.92 |
Caution |
| S8948 |
Laser therapy (15 min) |
79 |
$4,198.48 |
$53.15 |
Reliable |
| CHIROM&T |
ChiroHealth manipulation |
9 |
$433.50 |
$48.17 |
Caution |
| CHIROMAN |
ChiroHealth manipulation |
138 |
$5,739.87 |
$41.59 |
Reliable |
| 97039 |
Laser therapy |
28 |
$1,154.54 |
$41.23 |
Reliable |
| CHIROM |
ChiroHealth manipulation |
9 |
$353.15 |
$39.24 |
Caution |
| S8990 |
Wellness care (18-99 yr) |
159 |
$5,805.24 |
$36.51 |
Reliable |
| S9090 |
Spinal decompression |
50 |
$1,801.03 |
$36.02 |
Reliable |
| 72040 |
Cervical x-ray, AP/Lat |
15 |
$470.61 |
$31.37 |
Caution |
| 98941 |
CMT, 3-4 regions |
2,070 |
$55,723.96 |
$26.92 |
Reliable |
| 98940 |
CMT, 1-2 regions |
167 |
$4,270.68 |
$25.57 |
Reliable |
| MCCHIRO |
ChiroHealth therapies |
24 |
$590.00 |
$24.58 |
Reliable |
| 99213 |
Established, expanded |
77 |
$1,880.40 |
$24.42 |
Reliable |
| 97140 |
Manual therapy (15 min) |
21 |
$407.00 |
$19.38 |
Reliable |
| 97110 |
Therapeutic exercise (15 min) |
234 |
$4,421.58 |
$18.90 |
Reliable |
| 97014 |
Electric stim, unattended (15 min) |
385 |
$5,049.44 |
$13.12 |
Reliable |
| 98943 |
CMT, extremity |
205 |
$2,427.67 |
$11.84 |
Reliable |
| 97012 |
Intersegmental traction |
608 |
$7,014.65 |
$11.54 |
Reliable |
| G0283 |
Electric stim (Medicare/UHC) |
393 |
$4,187.74 |
$10.66 |
Reliable |
| 72100 |
Lumbosacral x-ray, AP/Lat |
27 |
$268.27 |
$9.94 |
Reliable |
| 99070 |
Inflavonoid (60 ct) |
6 |
$12.60 |
$2.10 |
Caution |
These are the codes worth acting on. The 18 Reliable codes (green) carry enough volume to trust; the 5 Caution codes (amber) are directional. The remaining 19 Low-N outliers appear on the next page for completeness.
Belle Curve Insights · Big-Firm Analytics for Chiropractic Practices and Small Business | sandra@bellecurveinsights.com · 239-469-4021 · bellecurveinsights.com
Real analysis from a live pilot engagement, published with the practice's written permission. The practice is not identified by name or location, and no patient-level information appears. Figures are actual results, not illustrations.
Profitability Summary — Low-N Outliers
The 19 codes with fewer than 5 units — shown for completeness, not for decisions.
| Code | Description | Volume | Total Paid | Paid / Unit | Reliability |
|---|
| WtLoss |
Weight-loss injection |
1 |
$476.68 |
$476.68 |
Low-N |
| L3020 |
Orthotics, 3-arch |
2 |
$596.00 |
$298.00 |
Low-N |
| 99204 |
New patient, moderate |
1 |
$204.79 |
$204.79 |
Low-N |
| 99214 |
Established, detailed |
3 |
$416.30 |
$138.77 |
Low-N |
| 72070 |
Thoracic x-ray, AP/Lat |
1 |
$70.00 |
$70.00 |
Low-N |
| E0943 |
Cervical pillow |
2 |
$140.00 |
$70.00 |
Low-N |
| CervPillow |
Cervical pillow |
1 |
$70.00 |
$70.00 |
Low-N |
| Z02.0 |
Tropex physical |
1 |
$50.00 |
$50.00 |
Low-N |
| MISC PHYSI |
Physical |
2 |
$90.00 |
$45.00 |
Low-N |
| L3650 |
Posture brace |
2 |
$67.68 |
$33.84 |
Low-N |
| 99202 |
New patient, expanded |
1 |
$31.27 |
$31.27 |
Low-N |
| 29200 |
Strapping, thoracic |
1 |
$20.00 |
$20.00 |
Low-N |
| MC CHIRNP |
ChiroHealth new patient |
1 |
$20.00 |
$20.00 |
Low-N |
| A9300 |
Cervical ball |
1 |
$20.00 |
$20.00 |
Low-N |
| 29260 |
Strapping, elbow |
1 |
$15.00 |
$15.00 |
Low-N |
| MISCLASER |
Laser, single |
1 |
$10.00 |
$10.00 |
Low-N |
| 99212 |
Established, focused |
2 |
$14.00 |
$7.00 |
Low-N |
| 73070 |
Elbow x-ray, 2 views |
1 |
$0.00 |
$0.00 |
Low-N |
| 73560 |
Knee x-ray, 2 views |
1 |
$0.00 |
$0.00 |
Low-N |
Interpret with care. Every code here rests on 1–4 transactions, so a single sale can swing its paid-per-unit dramatically (e.g. a $476 weight-loss injection on one visit). These are noted for a full accounting of the code set — they should not anchor pricing, staffing, or scheduling.
Belle Curve Insights · Big-Firm Analytics for Chiropractic Practices and Small Business | sandra@bellecurveinsights.com · 239-469-4021 · bellecurveinsights.com
Real analysis from a live pilot engagement, published with the practice's written permission. The practice is not identified by name or location, and no patient-level information appears. Figures are actual results, not illustrations.
Ranked Procedures
Reliable codes only — per-unit rate vs. total revenue.
| Code | Description | Paid / Unit | Rank (Per-Unit) | Rank (Total Rev.) |
|---|
| 99203 |
New patient, detailed |
$108.66 |
1 |
2 |
| 97124 |
Massage therapy (60 min) |
$71.19 |
2 |
3 |
| S8948 |
Laser therapy (15 min) |
$53.15 |
3 |
10 |
| CHIROMAN |
ChiroHealth manipulation |
$41.59 |
4 |
6 |
| 97039 |
Laser therapy |
$41.23 |
5 |
15 |
| S8990 |
Wellness care (18-99 yr) |
$36.51 |
6 |
5 |
| S9090 |
Spinal decompression |
$36.02 |
7 |
14 |
| 98941 |
CMT, 3-4 regions |
$26.92 |
8 |
1 |
| 98940 |
CMT, 1-2 regions |
$25.57 |
9 |
9 |
| MCCHIRO |
ChiroHealth therapies |
$24.58 |
10 |
16 |
| 99213 |
Established, expanded |
$24.42 |
11 |
13 |
| 97140 |
Manual therapy (15 min) |
$19.38 |
12 |
17 |
| 97110 |
Therapeutic exercise (15 min) |
$18.90 |
13 |
8 |
| 97014 |
Electric stim, unattended (15 min) |
$13.12 |
14 |
7 |
| 98943 |
CMT, extremity |
$11.84 |
15 |
12 |
| 97012 |
Intersegmental traction |
$11.54 |
16 |
4 |
| G0283 |
Electric stim (Medicare/UHC) |
$10.66 |
17 |
11 |
| 72100 |
Lumbosacral x-ray, AP/Lat |
$9.94 |
18 |
18 |
Read this way: a code near the top by per-unit but far down by total revenue earns well each time but happens rarely (e.g. 99203). CMT / 98941 sits mid-pack on per-unit yet #1 by total revenue — ordinary rate, extraordinary volume. That combination is what makes it the practice’s engine.
Belle Curve Insights · Big-Firm Analytics for Chiropractic Practices and Small Business | sandra@bellecurveinsights.com · 239-469-4021 · bellecurveinsights.com
Real analysis from a live pilot engagement, published with the practice's written permission. The practice is not identified by name or location, and no patient-level information appears. Figures are actual results, not illustrations.
Top Procedures by Paid-Per-Unit
Reliable tier only (N ≥ 20) — so every bar rests on real volume.
Note: the tallest bars (99203, 97124) are the most efficient reliable earners per unit. The high-volume workhorses — traction (97012, 608 units) and electric stim (G0283, 97014) — sit at the bottom on rate but carry the schedule. Both matter; they just play different roles.
Belle Curve Insights · Big-Firm Analytics for Chiropractic Practices and Small Business | sandra@bellecurveinsights.com · 239-469-4021 · bellecurveinsights.com
Real analysis from a live pilot engagement, published with the practice's written permission. The practice is not identified by name or location, and no patient-level information appears. Figures are actual results, not illustrations.
Revenue by Case Type
Where the collected dollars come from this quarter.
Self-Pay · ~34%
MC / Supp · ~25%
All other payers · ~41%
| Case Type | Total Paid | Share |
|---|
| Self Pay | $47,095.98 | 34.1% |
| MC / Supp | $34,482.41 | 24.9% |
| Wellness | $11,723.25 | 8.5% |
| UHC MC | $9,174.22 | 6.6% |
| Aetna | $8,480.71 | 6.1% |
| UHC | $5,570.00 | 4.0% |
| MC Replacement | $4,869.06 | 3.5% |
| Personal Injury (PI) | $4,650.11 | 3.4% |
| Medicare | $4,351.08 | 3.1% |
| PI-2 | $2,532.84 | 1.8% |
| UMR | $1,763.49 | 1.3% |
| All other payers | $3,538.44 | 2.6% |
| Total | $138,231.59 | 100% |
Why it matters: Self-Pay and MC/Supp together account for roughly 59% of collections — revenue the practice largely controls, with less exposure to third-party contract terms. The long tail of smaller payers each contributes only a few percent.
Belle Curve Insights · Big-Firm Analytics for Chiropractic Practices and Small Business | sandra@bellecurveinsights.com · 239-469-4021 · bellecurveinsights.com
Real analysis from a live pilot engagement, published with the practice's written permission. The practice is not identified by name or location, and no patient-level information appears. Figures are actual results, not illustrations.
