As a dedicated health care professional you work hard and meet the needs of your patients every day. But how are you rewarded? Often it is by lower reimbursements for what you do. Don't get me wrong, being a doctor is a wonderful profession. Treating patients with diabetes, HTN, and the like, is very rewarding, just not necessarily lucrative. With two people to process paper work, fight with insurance companies and resubmit claims for every one person that is in direct patient care, it gets harder and harder to make ends meet.
A Medi-Spa (or you may call it a Medical Laser Center) is a cash practice providing what people really want. You can do everything that people are seeing on Oprah and other TV shows. Laser hair removal, spider vein treatments, skin tightening, acne, warts and skin resurfacing. Look, if you can do a biopsy, you can do this stuff. Right now your patients are getting this stuff done... just not by you. While they are complaining to your front desk about the co-pay, they going elsewhere and laying down $100 dollar bills to get these services. Yes they are.
The trick is picking the right technology. There is a lot of smoke and mirrors out there. I am amazed at what some companies are willing to put up as before and after pictures. They are often terrible. One needs to squint and turn your head sideways to determine which is before and which is after. With the right technology, outcomes are tremendous, treatments are fast and comfortable and the patient is happy.
So, how will this help put your kids through college or improve your retirement? Simple... parallel income streams. You will only make the money you can make until you start to delegate. Right now you delegate your patient's care to the nurse in the ICU, you delegate giving shots, but that makes you little money. Delegating hair removal or spider vein treatments can make you a lot of money. Having your staff "mining" your spa patients for the bigger procedures like skin resurfacing can make a lot of money. It's all about parallel income streams.
Thomas Sult is a FP MD, supervises a laser clinic and is the Fotona US Med. Dir., involved in clinical/app. research & development.
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