How to be Competitive in the Med-Spa Industry

As the medical spa market continues to grow, plastic surgeons and dermatologists have to figure out ways to stay ahead of the competition. Maintaining a thriving practice isn’t just about having the latest technology and highest prices; significant consideration for patients and diligent research are necessary for success. Here's what four physicians have to say about making sure your practice is profitable.

Offer what no one else does. Santa Monica-based dermatologist Tanya Kromeili, MD, recommends providing services that everyone wants but are hard to come by. “If there are many providers in your area offering the service, you might not have the demand,” she said. “There are other body shaping technologies on the market that will be competing with your service, perhaps at a lower price since they don’t all have consumable parts.”

Laser hair removal. In Baltimore, facial plastic surgeon Theda C. Kontis, MD, claims that her laser hair services have generated the most customer satisfaction.

Recurring services. Adam H. Hamawy, MD, who runs a plastic surgery practice in Princeton, NJ, praises treatments that require consecutive visits. “Botox [Allergan], Dysport [Galderma] and Xeomin [Merz] are fast,10-minute, procedures that are effective, well-tolerated, and keep patients coming back for more treatments,” he said.

Prioritize the patient-doctor relationship. Most patients flock toward the most popular physician on social media and Yelp. That’s why it’s important to foster a genuine rapport with patients in order to maintain credibility. Steven Dayan, MD, a Chicago-based plastic surgeon and author of Subliminally Exposed, puts immense significance on the patient-doctor relationship. “Aesthetics is the last bastion where a doctor patient relationship exists because the patient chooses a physician based on reputation alone, not a preauthorized list of participating physicians,” he said. “If profit motives overtakes a patient’s best-interest motive, then we risk destroying all that is good about aesthetic medicine.”