Your medical practice is thriving, but you have a gut instinct that there’s room for expansion. Many of your patients have inquired about aesthetic treatments, and you’re wondering if this is a missed opportunity.
If you’re considering expanding your medical practice to include aesthetic medicine, it’s a smart move. The aesthetic medical market has been growing steadily for the past 20 years with no signs of slowing. In fact, since 2000, there’s been a 200% increase in the number of minimally invasive cosmetic procedures performed in the US, according to the American Society of Plastic Surgeons.
Increasingly, obstetricians, urologists, orthopedists, osteopaths and other healthcare practitioners are adding aesthetic medicine to their offering to enhance their existing services, offer patients ease and convenience, grow their client base, and generate a new cash-based revenue stream.
You can see the possibilities.
If you’re ready to take the next step, here are 3 things to consider when adding aesthetic medicine to your existing medical practice:
1. Consider your current patient base and the services you offer.
Start by considering your existing customer base. The aesthetic medicine treatments you choose to offer should complement patient base and specialty. You want your patients to view them as a natural extension of what you already do. This way, you reinforce the trust you’ve established with these clients and bolster your relationship with them by offering desirable treatments in a convenient location.
For example, are you an obstetrician-gynecologist who has a ready-made female client base? Intimate wellness, laser skin rejuvenation or platelet-rich plasma (PRP) treatments would be services that your current patients may find intriguing. Or, are you a family practice doctor whose client base would value laser vein treatments, non-invasive body contouring or Botox® injections?
Finally, ask yourself what you are passionate about and identify the treatments, services and procedures that you’d be pleased to have as part of your business. Once you’ve got your list of potential treatments and services, it’s time to do some research.
2. Research your competition
You’ll need to research the competition for your chosen treatments and services in your area. Make sure you investigate services offered at other local aesthetic medical practices or medspas. The marketplace for aesthetic medicine is expanding into many diverse areas, so you want to make sure you are aware of every business that’s offering similar services in your area. You may have to adjust your treatment offerings based on your findings or identify a way to differentiate your intended service offerings.
3. Expand your marketing efforts
Once you know which treatments and services will be competitive in your local area, you’ll need to acquire the technology and the appropriate training. (More on this in an upcoming blog.)
You’ll also need to expand your marketing efforts. Your current patient base is most likely not enough to sustain a successful aesthetic medicine practice, so it’s important to find new audiences by communicating your message to the community. Remember, you are entering into cash-based, voluntary medicine. You need to identify the target audience for your new services, promote to them, and convert them into patients via your consultation process. Distinguishing yourself among the competition through providing top-notch customer service is an excellent way to begin building your new patient book.
Developing a suitable marketing plan is key to attracting the right clients and communicating your new offerings appropriately. For more information about marketing strategy for your aesthetic medical practice, contact the team at Acara Partners. Fill out our form today to get in touch with a member of our team.