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How to Determine If and When You Can Afford a New Provider for Your Med Spa
By Kendall Reed, Maven Financial Partners Are you a medical spa owner wondering if your practice can afford or ...
Posted By Madilyn Moeller, Thursday, July 25, 2024
By Taylor Siemens, NP, Clinical Advisor, American Med Spa Association (AmSpa)
It is important to choose the right device for your medical aesthetics practice. The appropriate device can enhance the quality of your services and contribute to your patients’ satisfaction. Additionally, it can help your business thrive in this evolving industry.
As a clinician and operational expert, it's crucial to approach this decision with careful consideration and strategic planning. This comprehensive guide will help you navigate this process.
Before diving into the myriad of available devices, assess the current state of your practice. Identify any service gaps in your offerings. Are there specific treatments that your patients frequently inquire about, but that you don't currently provide? Knowing these differences can help you choose devices that improve your practice and bring in more patients.
Ask your patients about their preferences by sending a survey or reviewing their intake forms. Look for common themes such as skin texture, color changes, wrinkles and body treatments.
Chances are that your patients are already telling you what prospective additions to your practice will be successful. Perhaps you need to add a device to fill a seasonal gap to account for revenue loss in certain times of year. Ensure the service you are adding fills the need of your practice.
Medical aesthetic legal regulations vary by state, so it's essential to understand the licensure restrictions in your area. Some devices may require specific licensures, certifications or training.
Before you purchase a device or begin offering a new service, make sure you and your team meet all the requirements to provide it to patients. This step not only protects your practice from legal issues, but also ensures patient safety.
Assess which patients are best suited for the device's treatments to ensure it aligns with your target audience. Determine the types of patients who would benefit most from the device's treatments and make sure the device's treatments are suitable for your target audience.
Choosing a device is not just about the technology itself, but also the company behind it. Partner with vendors who have a proven track record of reliability and excellent customer support. Look for vendors that offer comprehensive training, ongoing support and robust warranty options.
Devices are an investment, and you need to be prepared to protect your investment. Having a good relationship with a trusted company is important—it can help you receive the necessary support for your new device, which can enable you to maximize the use of your device.
Proper training is also crucial for the successful integration of any new device. Ensure your team receives comprehensive training from the vendor, including hands-on practice and troubleshooting. A well-trained team can make treatments safer and improve results. This can lead to happy patients who are more likely to stay.
Each medical aesthetics device comes with its own set of potential complications and considerations for patient candidacy. Thoroughly research every prospective device or service to understand these aspects of the treatment.
Think about how you can handle complications in your practice. Make sure you have protocols in place to keep patients and the community safe in case of any problems. Properly assessing patient candidacy for specific treatments is crucial in achieving successful outcomes and maintaining high patient satisfaction.
Investing in a new device is a significant financial decision. Conduct a cost-benefit analysis to understand the potential return on investment (ROI).
Consider the initial purchase cost, maintenance expenses, consumables and training costs. Compare these with the expected revenue generated from the new treatments. Additionally, explore financing options and vendor payment plans to manage the financial impact on your practice.
Once you have selected and integrated a new device, effective marketing is essential to attract patients. Develop educational content that explains the benefits and safety of the new treatments. Contact patients who expressed interest on intake forms to inform them about your new service and provide education.
Utilize various marketing channels—including your website, social media and email newsletters—to reach your audience. Patient education materials can help demystify new treatments and encourage bookings.
Selecting the right medical aesthetic device for your practice involves a multifaceted approach. To improve your practice and keep patients happy, consider your needs. Work with trusted vendors and check licensing rules. Think about patient suitability and potential issues. Review costs, get proper training and promote new services effectively.
These steps will help you make smart choices and prioritize patient safety to boost your practice's success.
Taylor Siemens, NP, has a decade of experience in the aesthetic industry and serves as a clinical advisor for AmSpa. Her expertise in non-surgical treatments and commitment to advancing aesthetic medicine make her a trusted voice in the field. She is a board-certified nurse practitioner recognized by the American Association of Nurse Practitioners and a dynamic force in the world of aesthetic medicine. As the vice president of operations at Vitalyc Medspa and the founder of My Aesthetic Training, she seamlessly marries the expertise of a practitioner of medicine with that of a multi-site business operator. Siemens's journey into aesthetic medicine commenced as an operating room nurse specializing in facial plastic surgery. Through her diverse patient interactions, Taylor has honed a profound understanding of the aging process, fueling her skillset in crafting comprehensive, multi-modality treatment solutions that align seamlessly with patients' aesthetic objectives.
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