Building a Medical Spa inside your existing practice
May 21, 2005 (Press Release) --
The physician’s conundrum:
Medical spas are the forerunner of a revolution in cosmetic medicine. From Galen until now, the primary method of care has been through the skilled hands and individual knowledge of a physician. But that’s changing. The default method of care is becoming technology-based. Just as inn every other market, technologies are developed that replace an individual’s knowledge and skill.
So, how do you build a medical spa inside your existing practice? The good news is it can be done. Surface Medical Spas has three locations (with three more in development), 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 around the world about opening and operating medical spas. Be advised this is not easy, but here are a few suggestions.
Understand the marketplace: Medical spas are a luxury business. For most physicians, it comes as an unwelcome surprise that their new patients are more demanding. Long waits, shabby offices, poor communication, and ambivalent staff, are all in the past. If you’re touting yourself as a luxury service, you better act like one. Hire top-notch people that are service-oriented, friendly and courteous. Protocols can be taught easier than attitude.
Network with successful medical spas: Successful business owners are 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. Most day spas can’t run themselves. The average net margins for day spas are around 8%. The average physician’s is around 60%. Physicians running day spas are entering a business that they; know nothing about, doesn't make any money, is highly competitive, has no barriers to entry, and is rife with employee and other problems. Don't do it.
Surface Medical Spas, a multi-location, multi-physician practice that focus’s on advanced cosmetic medical technologies. Surface currently has three locations in the United States with three other locations scheduled to open in Brazil this year.
The physician’s conundrum:
Medical spas are the forerunner of a revolution in cosmetic medicine. From Galen until now, the primary method of care has been through the skilled hands and individual knowledge of a physician. But that’s changing. The default method of care is becoming technology-based. Just as inn every other market, technologies are developed that replace an individual’s knowledge and skill.
So, how do you build a medical spa inside your existing practice? The good news is it can be done. Surface Medical Spas has three locations (with three more in development), 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 around the world about opening and operating medical spas. Be advised this is not easy, but here are a few suggestions.
Understand the marketplace: Medical spas are a luxury business. For most physicians, it comes as an unwelcome surprise that their new patients are more demanding. Long waits, shabby offices, poor communication, and ambivalent staff, are all in the past. If you’re touting yourself as a luxury service, you better act like one. Hire top-notch people that are service-oriented, friendly and courteous. Protocols can be taught easier than attitude.
Network with successful medical spas: Successful business owners are 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. Most day spas can’t run themselves. The average net margins for day spas are around 8%. The average physician’s is around 60%. Physicians running day spas are entering a business that they; know nothing about, doesn't make any money, is highly competitive, has no barriers to entry, and is rife with employee and other problems. Don't do it.
Surface Medical Spas, a multi-location, multi-physician practice that focus’s on advanced cosmetic medical technologies. Surface currently has three locations in the United States with three other locations scheduled to open in Brazil this year.
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