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In business business startup real estate chiropractic clinic cracks insurance model nlv property sold for $19.8 million By Paul Delos Santos staff writer John Leonesio started Massage Envy in 2002 and in less than a decade turned the chain into a $300 million business. He hopes to do the same now with The Joint, a chain of no-appointment-necessary chiropractic clinics. The industries are different, but Leonesio's philosophy remains the same: provide affordable, convenient care. "We did the Massage Envy model for chiropractic care," said Leonesio, who sold Massage Envy in 2008. "We've tried to change how (chiropractic care is) delivered." The Joint opened its first Southern Nevada location Dec. 19 at 4150 Blue Diamond Road, Las Vegas. Another practice at the Boca Park Marketplace, 8820 W. Charleston Blvd., also opened in December. The company plans to add eight more locations in the valley by the end of 2013. Las Vegas was a natural fit for the chain, Regional Developer Christina Ybañez said. "Hospitality workers are there, and they're on their feet 24/7," she said. "They're standing for long days and hours." For $20, first-time customers receive a consultation, an adjustment and an exam. Subsequent adjustments cost $29 each. A wellness plan reduces the price to $49 a month for four adjustments. The Joint accepts only out-of-pocket payments and doesn't work with insurance companies. "Most of those price points are below the insurance copay," said Ybañez, who said she used to pay $50 to $60 per chiropractor visit through insurance companies. | 7 JANUARY 2013 20130107_VI11_F.indd 11 | The Joint also forgoes appointments. Patients can walk in whenever they have time. The Las Vegas clinics are expected to be open seven days a week to accommodate patients with non-traditional schedules. "We heard from the customers that they wanted something more convenient," Leonesio said. "We wanted to have a walk-in-as-you-needed type of facility open on nights and weekends." Phoenix chiropractor Dr. Andrew Richetto initially was skeptical of the cash model, having worked solely in insurance-based practices. But he estimated it took him half a day to complete administrative work to keep the insurance companies happy. "You feel like you're under scrutiny," he said. Richetto moved to The Joint in February 2012. He now has more time to see patients, as the long hours completing paperwork are gone. Leonesio said The Joint's model also means doctors make more money since their overhead costs aren't as high. They don't have to hire as many administrative assistants to help with paperwork. "We've increased the cash flow to be instant," Leonesio said. "I think over the next five to 10 years, (cash-based models) will become industry standard. I think eventually, 100 percent of (insurance companies) will stop paying for chiropractic care." By Eli Segall staff writer A Southern California residential developer has acquired 208 acres in North Las Vegas. SunCal bought the property near North Decatur Boulevard and Elkhorn Road for $19.8 million, the company said Dec. 21. The previous owners had graded the property and installed water and power utilities but did not build any homes, SunCal spokesman Joe Aguirre said. The company plans to seek revised entitlements for the property, which is already approved for up to 1,828 residential units, he said. Like Summerlin's Howard Hughes Corp., SunCal develops master-planned communities by selling large swaths of land to home builders. Based in Irvine, Calif., SunCal has done other deals in Las Vegas. From August to November 2009, the company bought 1,665 lots — 1,212 finished and 453 partially developed — across 22 valley project sites for almost $30 million. 11 1/3/13 3:06:31 PM