Plastic surgery is one of the fastest-growing industries in the medical field, with a 19% increase in the number of cosmetic surgeries performed in the last three years alone. As the industry continues to grow, so too do many plastic surgery practices in order to keep up with ever-increasing demand.
Whether you are looking to simply expand your customer base or open a new facility, these plastic surgery growth strategies should be a part of your business plan.
1. Know Your Target Audience
While plastic surgeons often aim to help a wide variety of people achieve their goals, it pays to have a clear understanding of who your target audience is so you can appropriately align your marketing strategy. Find out what your niche is and who your primary client is to drive marketing decisions.
2. Data-Drive Decisions
In the same vein, your plastic surgery business plan and growth strategy should be designed around measurable objectives, up-to-date financials and data-driven forecasts. Knowing the numbers behind your business strategy will help you to make sound, informed decisions as your practice expands.
3. Build Scalable Systems
Increase efficiency and decrease costs when expanding your plastic surgery practice by putting replicable systems in place. These can include systems for staff training, billing, credentialing, PR and marketing and more. Once a scalable blueprint is in place, your practice should be able to run with much less hands-on oversight from you, freeing your time to be spent with patients.
4. Create a Patient-First Business Model
Speaking of patients, the best business model for your plastic surgery practice will include patient needs at its center. Gather information through patient feedback and tailor each step of the process – from the first phone call to the final follow-up visit – to deliver a best-in-class patient experience that will drive repeat clients and referrals.
In many of these areas, partnering with a private equity firm can help take some of the pressure off you to both run a successful, scalable business and provide top-quality care to each and every patient. If you think Prime Aesthetics Group may be able to help you reach your practice’s goals, please fill out our secure online contact form.