Selecting New Treatments to
Rejuvenate Your Medical Spa
Skin care treatments are
being developed almost
daily. To remain
competitive and satisfy
patients, determine which
offerings will enhance your
practice by asking yourself
these five questions about
any new treatment you’re
thinking of starting in your
medical
spa.
1. Is there a market for
the treatment?
Find out if it is
available locally, who
offers it and how much
it costs. Can you gain a
competitive advantage by
offering this treatment?
Determine the number of
local prospects aside
from your current
patients. Is the market
large enough to make a
profit? Or is the market
niche so limited that
you must charge a
premium? Create a
targeted marketing plan
identifying the market
and a communication
strategy.
2. Will it be
profitable?
Be sure to consider the
additional expenses in
staff, overhead,
training, marketing and
equipment costs. Have
your accountant prepare
2 years of profit/loss
forecasts for the new
treatment. Request a
breakdown of equipment
expenses from the
manufacturer including
training, warranties and
service along with their
associated costs. If
the equipment can be
leased, perform a lease
versus buy analysis.
Financial and tax
advantages are obtained
by leasing equipment and
some vendors will allow
you to trade leased
equipment for newer
models.
3. Could this treatment
increase your liability
risk?
Investigate the legal
implications for the
treatment by asking your
attorney or calling your
state’s health
department. Does a
physician have to
perform the treatment or
can you delegate it to a
technician? If you are
still unclear, seek a
medical spa consultant
who can evaluate new
treatments, inform you
of eminent treatments
and find cost effective
alternatives that yield
a higher profit margin.
