Tuesday, 27 October 2015

Chiropractic vs Osteopathy: A Financial Comparison



Chiropractic Education Costs $209,184 More

Total net income (income minus education cost) of manual osteopaths in a 20 year period is $1,595,482 compared to $1,076,324 for chiropractors (manual osteopaths make $519,158 more than chiropractors in a 20 years period). 

I have studied chiropractic as well as manual osteopathy, & I have in-depth knowledge of both professions. Over 5% of my manual osteopathy students are chiropractors and chiropractic students. In this article I try to compare both professions from a financial perspective. 

         DC vs DOMP: A Financial Analysis 



 MANUAL OSTEOPATHY

           CHIROPRACTIC

Designation
DOMP (Diploma in Osteopathic Manual Practice)
DC (Doctor of Chiropractic)

Study duration
1 year full time (6 months for students with prior health education)
7 years (3 years university followed by 4 years of chiropractic college)

Tuition per year (in 2015)
$5,528 for health professionals, $9,280 for high school graduates
$24,419 to $29,745

Total tuition to complete education
$5,528 for health professionals, $9,280 for high school graduates
$97,676 to $118,980

Annual cost of living (in Canada)

$18,000 ($1,500 per month)

$18,000 ($1,500 per month)

Total living expenses to complete education
$9,000 for health professionals, $18,000 for high school graduates
$126,000
Total cost of completing education (tuition plus living expenses)
$14,528 for health professionals, $27,280 for high school graduates
$223,676 to $244,980

Average annual income per year

$90,000

$100,000
Total income, 7 years from now for current 1st year students
$540,000 ($90,000 per year for 6 years after graduation)
Zero (education takes 7 years)
Total income, 10 years from now for current 1st year students
$810,000
$300,000
Total income, 20 years from now for current 1st year students
$1,710,000
$1,300,000
Net income after 20 years minus the cost of education and living expenses for current 1st year students
$1,695,472 for health professionals, $1,682,720 for high school graduates
$1,076,324 to $1,055,020

In another articles http://drpourgol.blogspot.ca/2013/06/osteopathy-vs-chiropractic-vs-physical.html I have compared the differences and similarities of manual osteopathy, chiropractic, physiotherapy & massage therapy. 

Please note that there are two different types of osteopathy in Canada. One is the American style osteopathy, also known as osteopathic medicine (there are about 20 osteopathic physicians in Canada) that teaches surgery and medications. The other one is manual osteopathy (there are over 2000 manual osteopaths in Canada) that teaches hands on therapy.

Financially speaking osteopathic education is less expensive than chiropractic education. I recommend students choose manual osteopathy as their future career. 

Professor Shahin Pourgol, MBA, DC, DO, PhD
National Academy of Osteopathy (Canada)
National University of Medical Sciences (Spain)

NAO & NUMSS are the largest providers of manual osteopathic education worldwide, teaching in 54 countries. To receive their information package please email admissions@nationalacademyofosteopathy.com

Thank you. 



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