Tag: grow your practice

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The following excerpt from an article originally published in “Medical Economics” offers some great food for thought on how to expand your current practice to include high-demand aesthetic treatments and…

“Offering cosmetic services could help you be part of a growing market.
Many PCPs are starting with onabotulinumtoxinA, temporary fillers, dermabrasion, chemical peels, and photorejuvenation. You might consider the Vampire Facelift or the EndyMed PRO for non-invasive skin rejuvenation, skin tightening and anti-aging treatments.
Consider all the costs including equipment, office space, scheduling, and patient demand.”

“Americans spent $4.1 billion on nearly 8 million nonsurgical cosmetic procedures 2 years ago, according to the American Society for Aesthetic Plastic Surgery (ASAPS). Not only is the market believed to be growing, it’s doing so outside traditional dermatology and plastic surgery specialty areas.
In fact, an increasing number of physician-directed spas are opening in an effort to reshape practice profitability and expand the service mix.Consider that about 5 million nonsurgical cosmetic procedures were performed by aestheticians last year, frequently in a spa setting, says Jeff Russell, executive director of the International Association for Physicians in Aesthetic Medicine (IAPAM), based in Las Vegas, Nevada. Many primary care physicians (PCPs) have decided to meet demand for these services by actively controlling the “med” part of these “medspas.” According to Russell, internists, family physicians, and obstetrician/gynecologists dominate the IAPAM’s training classes.Their interest in the field makes sense when you consider that the bulk of cosmetic procedure clients

are the very people who dominate the patient panels of internists and family physicians. Women aged 35 to 50 years have 44% of these procedures, whereas women between the ages of 51 and 65 have an additional 20%.

As Houston, Texas-based consultant Reed Tinsley, CPA, says, “If you have a fairly young patient base, why let patients go to a dermatologist for basic cosmetic work?” Keith Borglum, CHBC, of Professional Management and Marketing in Santa Rosa, California, adds that PCPs are simply responding to patient demand, especially in areas underserved by dermatologists.

Both consultants agree that having a physician’s credentials tied to a medspa’s service mix adds credibility even if the procedures are not required to be performed by a physician.

Interestingly enough, an IAPAM survey found that 78% of women aged 21 to 60 consider medical credentials important when choosing an aesthetic treatment provider, and most of them would prefer to receive injections and fillers in a medical environment. Although all spas offer these treatments, most of them are not owned by doctors, and physicians often do not provide most treatments themselves.
How can you determine whether adding aesthetic procedures will work for you? Start slowly.

“We recommend that physicians gradually integrate these services into their practices, perhaps seeing aesthetic patients from 4 p.m. to 6 p.m. on Wednesdays to start,” Russell says. “They can leverage their existing overhead that way and see if they enjoy it.”

The beauty, Russell adds, is that you could start offering these procedures with relatively little upfront capital and potentially reap the benefits of a new cash-based service.”

If you do not have a big enough facility to separate Aesthetic patients from sick patients, adapt the schedule, says Alberto Carro, MD (left). By keeping costs down, he was able to make a profit his first year offering cosmetic services.”

Thanks to Medical Economics for this helpful article. Read more in Medical Economics about a few considerations to help you evaluate how you might expand your practice.

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Grow Your Practice Marketing

Low Cost, No Cost Ways to Get More Patients!

tbcblogadmiin

October 17, 2012 1:36 pm October 17, 2012

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Kevin Simons (@kstotal) with Total Body Contouring (@tbcontouring) recently hosted the webinar, “Low Cost, No Cost Ways to Get More Patients, NOW!” with guest speaker, Catherine Maley, author and consultant,…

Kevin Simons (@kstotal) with Total Body Contouring (@tbcontouring) recently hosted the webinar, “Low Cost, No Cost Ways to Get More Patients, NOW!” with guest speaker, Catherine Maley, author and consultant, with Cosmetic Image Marketing (@catherinemaley). Listen now!

On the webinar, Kevin discussed the newest technology for laser lipo, the GPSLipo procedure, and then Catherine followed-up with strategies for how a practice could market any new technology they acquire.

Here are just a couple of the marketing tips Catherine shared during the webinar:

Receptionist Ad/On Hold Message: Although you don’t want to keep your cash-paying aesthetic patients on hold, take advantage of these idle moments with your patient to tell them about your new services and procedures. Also, your receptionist can change her welcome comments to include, “Thank you for calling, Dr. Smith’s office, now offering GPSLipo. This is Cindy, how may I help you?”

“Ask Me About Tools”: Catherine suggested that practices can use “ask me about…” tools to get patients to inquire about new or featured services. Staff can wear buttons that say, “Ask Me About… GPSLipo” or lobby collateral can invite the patient to “Ask Us About…Body Contouring” making it easier for the curious patient to feel confident in asking their question. Staff just needs to be prepped to give a quick, informative answer designed to lead to a consult or an appointment.

Listen to the webinar recording and watch the slide show to hear all of Catherine’s suggestions and how Total Body Contouring’s multidisciplinary training and television and internet marketing programs can help your practice to not only acquire new technology, but to also successfully market your practice. Learn more about Catherine Maley’s marketing strategies and published words by visiting cosmeticimagemarketing.com.

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Grow Your Practice

Take Advantage of 2012 Tax Deductions… Before They Expire!

tbcblogadmiin

October 11, 2012 2:39 pm October 11, 2012

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Doctors, and others business owners, who acquire equipment for their business: medical devices, machinery, computers, and other tangible goods, usually prefer to deduct the cost in a single tax year, rather than a little at a time over a number of years. This deduction is known by its section in the tax code: a Section 179 deduction.

According to www.section179.org, “both the ‘Tax Relief Act of 2010’ as well as the ‘Jobs Act of 2010’ that passed in late 2010 affected Section 179 in a positive way for this 2012 tax year.

Following are the highlights for the 2012 tax year:

2012 Deduction Limit = $139,000: This means you are eligible to deduct $139,000 of the purchase of your equipment from your taxes.

2012 Limit on Capital Purchases = $560,000: Section 179 Threshold for total of equipment & software that can be purchased has increased to $560,000.

2012 Bonus Depreciation = 50%: The new law allows 50% “Bonus Depreciation” on qualified assets placed in service during 2012.”

There is still time left to purchase your GPSLipo or other aesthetic equipment and be eligible for the dramatic 2012 tax savings!

Visit the tax calculator to run a few scenarios. Here is a quick example of an average device purchase:

With these savings available for the current tax year, now is a very good time to learn more about available new technologies, and consider investing in your practice.

Learn more about GPSLipo: the safest, most precise procedure for removing unwanted fat, or register to attend one of our LIVE procedure observations.

Learn more about EndyMed Pro: use the power of radio frequency to reach deep levels of skin tightening and body contouring.

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