Characteristics associated with the financial performance of private chiropractic practices in Aotearoa New Zealand and Australia : a thesis presented in partial fulfilment of the requirements for the degree of Master of Business Studies (Management) at Massey University, Aotearoa New Zealand

Abstract

This thesis examines the owner, practice, and operational characteristics associated with the financial performance of private chiropractic practices in Aotearoa New Zealand and Australia. Although most chiropractors work in privately owned practices and commonly report gaps in their business preparedness, little empirical evidence was found that identifies the characteristics associated with differences in practice financial outcomes. Financial performance was assessed using three related but distinct outcomes: net profit, revenue, and operating expenses. Data were collected through an anonymous cross-sectional online survey of chiropractic practice owners between January and April 2026. Sequential ordered logistic regression models were estimated separately for each outcome, with ordinary least squares models used as a supplementary consistency check. Analytical samples ranged from 68 to 74 practices. Operational and practice-scale characteristics showed the most consistent associations with financial performance. Greater regular visit volume and clinical capacity were associated with higher revenue and operating expenses, while regular visit price and Patient Visit Average were positively associated with revenue. Staff administrative hours were positively associated with both revenue and net profit. Marketing spend was associated with higher operating expenses and lower net profit, while its association with revenue was not statistically significant once operational characteristics were included. Contrary to the study hypotheses, formal business education was negatively associated with net profit, self-rated business acumen was negatively associated with revenue, and coaching showed no statistically significant associations. Practices aged 11 years or more had higher operating expenses, while New Zealand practices had lower operating expenses than Australian practices in some specifications. The findings suggest that how patient demand is converted into delivered and priced services, and how administrative capacity supports that process, is more consistently associated with financial performance than the owner capability measures examined. Based on the literature reviewed, this study appears to provide the first multivariable analysis of net profit, revenue, and operating expenses among chiropractic practices in Australasia and identifies priorities for future research.