Something Old, Something New

October 14, 2020

This week, Cheryl Whitman recommends researching trends in aesthetic medicine and local treatment demand to enhance profit margins.

Something Old, Something New

Adding New Profit Centers Can Add More To Your Bottom Line.

The popularity of aesthetic medicine is increasing, a trend that is likely to continue. Now is an excellent time to consider adding a new, aesthetic profit center to your practice. It can bring new revenue and enhanced profit to your Medical Practice. Research what’s trending and compare that with demand in your area. Then act. In taking advantage of the many new profit-center opportunities, there’s an easy way and there’s a hard way – a way that capitalizes on practical experience, and a way that give you that practical experience. If you or a staff member has expertise in a given area and the time to make use of it, you can probably manage to add that new service yourself. However, if time is short or expertise is lacking, it is both prudent and profitable to capitalize on the knowledge of existing experts, and hire an expert to handle that new service.

This tip is adapted from “Beautifully Profitable, Forever Profitable,” by Cheryl Whitman.

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Have a practice management question or topic you’d like us to cover? Let us know! aestheticauth@gmail.com​.