| |
| |
|
Medicine Information |
|
|
|
Building A Medical Spa Inside Your Existing Medical Practice
The physicians conundrum: Everywhere, physicians are contemplating or engaged in expanding into the "medical spa" market. Seduced by the media buzz around this hot new phenomenon, many doctors see the medical spa as a means boosting their income and eliminating the growing grind and countless headaches of their daily practice. They read about growth statistics, see dazzling new equipment at trade shows, watch competitors popping up, and fear that they may be falling behind the times. With pen in hand they're ready to sign lease agreements, loan documents, and lots of checks in order to catch up with a crowd of savvy entrepreneurs who know where the real action is. And the truth is, they're right. Medical spas are the natural evolution of cosmetic medicine, and those who don't join the revolution will watch from the sidelines as their fate is decided. Medical spas are the forerunner of a revolution. From Galen until now, the primary method of care has been through the hands and individual knowledge of a physician. But that's changing. The default method of care is becoming technology based. In every market and time, technologies are developed that replace an individuals knowledge and skill. Lasers, IPLs, radio frequency, infrared, personal DNA testing, Pointe Lift?, Liposolve?, ClearČ, PDT, telomere clipping, anti-aging drugs and a smorgasbord of other technologies in development promise to change medicine in the same way that computers, jet engines, and GPS have changed aviation. Technology now enables a technician (under medical supervision) to perform effective medical treatments and places the physician in an oversight roll instead of being the primary practitioner. In the near future, physicians will have more in common with an astronauts than the Wright Brothers. But changing technology poses very deep problems for physicians. Technology allows easy replication and scalability, forces an unimaginably steep new learning curve on overworked doctors, and eliminates many of the barriers and protections that physicians have relied on in the past. And it's only going to get worse. Consider this. The combination of markets that Surface competes in is huge (40-50 billion per year and growing), highly fragmented (individual practitioner model), completely new (technology based), and free of any meaningful national players (yet). Already there are very deep pockets investigating ways to exploit this emerging marketplace. The Wal-Marts and Home Depots of this new medical marketplace are being built. But there's opportunity as well. Technology opens new doors for physicians who can manage this new paradigm. That's why a ready supply of smart and motivated physicians tired of the daily grind of insurance patients are moving into the marketplace and successfully competing. For the first time, physicians outside the current specialties of plastic surgery (cutting and stitching) and dermatology (diseases of the skin) have the potential to earn the income of these "big money" specialties. This new market will inevitably give rise to a new specialty whose focus will be "non-surgical cosmetic medical technologies". You can see the fragmentation today. Many dermatologists now label themselves as "cosmetic" to market themselves as a subspecialty. Hurry up and wait. You can't get enough good information fast enough. But this is a new business and demands a huge investment of time to make the right decisions. Sales reps will stream into your clinic armed with charts and graphs that go up and to the right, advertisers will drop phrases like "top of mind awareness", and you'll have a creeping suspicion that the market is getting away from you. Go slow. There are a host of land mines in the area and there are some that will be advising you to jump directly on them. So, how do you build a medical spa inside your existing practice? Surface has three locations, four physicians, master aestheticians, technicians, patient coordinators, managers and office staff. Every treatment at Surface is governed by a set of proprietary protocols. As a business, we have advised dozens of individual physicians, managers, and investors about opening and operating medical spas. Be advised this is not easy, but here are a few suggestions. Physician heal thyself: This is your business. Consultants make their money by telling others how to run businesses that they can't run themselves. Believe me, if a medical spa consultant was worth hiring, they would be running their own medical spa. Consultants will tell you that you have to have massage, retail should be 30% or your gross sales, and "you might want to consider hydrotherapy". Wrong. The day that retail is 30% of our gross sales I'll eat my left foot. Our retail is around 3%. If it ever gets to 5% we'll cut back. If this is going to be your business, make your own decisions. Find someone smarter than you: The most important step is good management. Without that, people can, and have, lost everything. If you don't have good management skills, hire someone from outside medicine who does. Franchises: "Turn key solutions". That's how almost everything is marketed to physicians. Buy this technology, hire this personnel, run these ad slicks, and everything will fall into place. Sorry. It doesn't work that way. Most of these franchises are sold as a sort of "we've already worked out the kinks" sort of deal. It's a lie. Franchises focus on the treatments that everybody else will be able to replicate with ease. It's more a case of, " In the kingdom of the blind, the one-eyed man is king". You don't need a franchise. All technology is not created equal: Despite what company reps will tell you, choosing the right technology will mean big differences at the end of the year. Efficacy, cost per treatment, initial costs, usage, and a long list of other considerations should go into technology decisions. Many physicians jump first and then end up with $80,000 towel dryers that they still have to make payments on every month. Used medical devices are readily available from the constant stream of bankruptcies and failed medical practices. Choose your technology carefully. Understand the marketplace: Medical spas are a luxury business. And for most physicians it comes as an unwelcome surprise that their new patients are more demanding. Long waits, aloof staff members, poor communication, and ambivalent staff, are all in the past. You're touting yourself as a luxury service, act like one. Hire top-notch people that are service-oriented, friendly and courteous. Protocols can be taught easier than attitude. Rein in your ego: This is business. It's not personal. If you feel you must charge twice as much as your competitors because you "deserve it" or you're board certified, get used to empty appointment book. One of my personal pet peeves is the condescending attitude of many physicians. Do not use "advanced" or "laser" in your name: The number of "advanced" laser clinics is staggering. Don't do it. It's inane, overused, and bland. I actually had a physician ask me if changing his name from Advanced Laser Centers to Advanced Laser Group would get him more business. Network with successful medical spas: Successful business owners are only to happy to help newcomers to the industry. We have constant dialogue with physicians and investors who are investigating the marketplace and have advised clinics on four continents. Successful medical spas will be happy to build bridges with smart businesses. Don't look to day spas to solve your problems: Physicians hear "spa" and immediately think that day spas have the answers they're looking for. Wrong. The average net margins for day spas are around 8%-10%. The average physicians is 60%. This is a different market. Don't base your pay on commission: Commissions sound like a great solution. You save overhead and motivate your staff to grow the business. Wrong. Commissions are used in spas to keep overhead low, but guess what. Staff members working for commission aren't working for you. Commissions lead to overly aggressive staff that don't do anything for your reputation. Don't gild the Lily: You may have heard that you have to "build out" your clinic at the cost of $80-$120 per square foot. Nope. You don't have to start with treatment tables that have your clinics name embossed on them. Spend all your money before you open and you won't be able to spend it where you'll really need it? getting butts in the seats. Stay lean: Physicians practice medicine based on science. You don't need to offer massage and you don't know anything about it anyway. Stick to the basics. More information is available online at www.surface-med.com Jeff Barson Jeff Barson is the Managing Partner of Surface Medical Spas and the Editor of Medical Spas Online Magazine.
MORE RESOURCES:
Google News |
|
|
|
RELATED ARTICLES
The Right Stethoscope For Your Needs! Just about all health care providers have need of stethoscopes. Whether you're a nurse, respiratory therapist or a medical doctor, the need to auscultate the chest, lungs and heart is a necessary and important part of your work. Rogue Online Pharmacies: The Internet War Of 2005 Online Pharmacy owners who haven't been working within moral and governmental regulations are in for the ride of their lives. In past months, many of these so called "rogue pharmacies" have either voluntarily shut down or been closed by the powers that be. An Introduction to Acid Reflux Disease Acid reflux disease, also known as Gastroesophageal Reflux Disease or GERD, afflicts millions of people. Many suffer from an occasional bout with heartburn, but acid reflux disease, as a diagnosis, should only be made if the heartburn causes impediments to your lifestyle due to severe, chronic discomfort over prolonged periods of time. Catch The Wave There has never been a better opportunity for chiropractic medicine?and it's going to get even better!Living in Southern California the ocean waves and the surfing environment inspire you. You cannot help but draw the analogy of "catching the wave" during the most exciting time I have experienced in chiropractic medicine over the past 15 years. Lunesta Personality Changes Lunesta is a newly released sleeping pill. Marketed as a revolutionary sleep aid, Lunesta is the only medication approved by the FDA for long term treatment of insomnia symptoms. Overview of FDA Recalled Drug - BEXTRA Bextra, also known as valdecoxib, is a prescription medicine known as a COX-2 Inhibitor. Like Vioxx and Celebrex, it supposedly lessen the pain of inflammation and fever without causing stomach irritation common to aspirin and other NSAIDs (Non-Steroidal Anti-Inflammatory Drugs). You Are Getting Very Sleepy....The Truth about Hypnosis A hypnotic "trance" is not something that is foreign to us--we've all been so absorbed in thought while reading a book or watching a movie that we fail to notice what is happening around us. These focused states of attention are similar to hypnosis. Serzone Side Effects Lead to Serzone lawsuits Serzone is a prescription medication that is given to patients who are seriously depressed (Dysthymia,Major Depression, and Bipolar Disorder) to alleviate the symptoms of depression such as sleep and eating habits, changes in weight, coordination, fatigue, unjustified feelings of worthlessness or suicidal thoughts which prohibit normal functioning. It balances levels of serotonin and norepinephrine in the brain which doctors think will help alleviate symptoms of depression much like the phenylpiperazine antidepressant, Trazodone (Desyrel). Living Migraine Free Don't treat your migraines, prevent them. A life without migraines is obtainable, I know. Aleve, Vioxx, Celebrex, and Bextra: What You Need To Know About Arthritis Pain Medications Recent controversy about the safety of pain medications for arthritis has left patients and health care professionals alike confused about which medications are safe to use. In fact, a recent survey by the Boston-based Rippe Lifestyle Institute indicated that many people with arthritis are suffering unnecessarily because they have stopped or reduced their use of pain relievers due to confusion about which drugs are considered safe. "Doc, my mouth is so dry all the time. What could be the problem?" Sjogren's syndrome is an autoimmune disorder - a disorder in which your body attacks its own tissues because it thinks they are foreign. It prevents your body's exocrine (moisture-producing) gland from producing enough moisture for different areas of your body. Arizona Drug Rehab: Finding Help in Arizona The state of Arizona has one of the worst drug problems in the United States. Historically and currently, the state is known as a transhipment location for a variety of drugs, including heroin, cocaine and marijuana, which are imported from other countries. Vioxx Side Effects : Are You Suffering? Have you ever taken the drug Vioxx or celebrex? In September 2004 the drug manufacturer Merck decided to recall the product after long term data suggested a serious potential side effect.This drug and others like it such as as 'Celebrex', 'Bextra' and 'Arcoxia' are part of a family of drugs known as "COX2 drugs" or "COX2 inhibitors"They have been developed with, ironically, patient safety in mind. Death by Fluoride A wee bit of fluoride makes teeth and dentists happy, we're told. Dr. Buy Lunesta Cheap By Comparing Prescription Prices Online We all know that there's no such thing as cheap Lunesta. But when compared with the other prescription sleep aids, Lunesta is the best buy if you're looking for a way to just finally get a good night's sleep without waking up drowsy and dysfunctional. How To Locate An Alcohol Rehabilitation Center In California Alcohol rehab in California refers to the centers that help people in California to get rid of the menace of alcoholism.Prevalence of alcoholism is increasing in California therefore more people are looking for Alcohol rehabilitation facilities in California. Neurontin Lawsuit: Neurontin Off-Label Abuse Lawyer Pfizer is currently marketing Neurontin as an oral medication for managing postherptic neuralgia, the pain that lingers after shingles has healed. This is an FDA-approved use, and studies have shown that Neurontin works to reduce patients' pain. Medical Collections Although you make a patient feel better, there isn't usually anything tangible to be a reminder of your service. When it comes time for the patient to pay their bills, yours is often at the bottom of the pile. Can You Always Trust Your Dentists Recommendations? Can you always trust your dentists' recommendations? Think for yourself - in the last 30 years the health of our teeth has improved dramatically. We drink fluoridated water, which almost eliminated decay in our teeth. Protect Yourself Against the Flu Vaccine! The vaccine industry insists that their vaccines against the flu serve as the key to a healthy winter. Although there has not been a serious flu epidemic for 38 years, their vaccines are prescribed to millions of people each year.
|
| Article List | Index | Site Map |
|
All logos, trademarks and articles on this site are property and copyright of their respective owner(s).
The comments are property of their posters, all the rest is Copyright © 2006 CanadaSEEK.com - All Rights Reserved. |
