ANNE BOLDUC Group Publisher & President
medical spas business review
EDITOR IN CHIEF Guy J. Jonkman
EDITORIAL BOARD
SENIOR EDITOR Bernard Burt
the medicine environment of the future –TODAY
ROBERT M. GOLDMAN, MD, PhD, DO, FAASP World Chairman-International Medical Commission Co-Founder & Chairman of the Board-A4M Founder & Chairman-International Sports Hall of Fame Co-Founder & Chairman-World Academy of Anti-Aging Medicine President Emeritus-National Academy of Sports Medicine (NASM) DR. RONALD KLATZ, MD, DO, is the physician founder and President of the American Academy of Anti-Aging Medicine. In 1984, Dr. Klatz was a pioneer in the clinical specialty of preventative medicine: as a principal founder of the National Academy of Sports Medicine and researcher into elite human performance and physiology. Dr. Klatz is a best-selling author, and is columnist or Senior Medical Editor to several international medical journals. He is the inventor, developer, or administrator of 100-plus scientific patents, including those for technologies for brain resuscitation, trauma and emergency medicine, organ transplant and blood preservation. DAVID B. MANDELL, JD, MBA, is a former attorney and author of ten books for clients, including For Doctors Only: A Guide to Working Less & Building More, as well a number of state books. He is a principal of the financial consulting firm OJM Group He has co-authored the Category I CME Monograph Risk Management for the Practicing Physician which has gone through 5 editions since 1998 & is certified for 5-hour business of medicine CME MANON PILON, Speaker, International Educator, SPA & Medical SPA Specialist – Mrs. Manon Pilon’s background spans over twenty-seven years of professional experience in SPA and MEDICAL SPA operation and management, marketing strategies, Medical Spa concept and development, and motivation methods. She is holding senior management positions in companies such as Europe Cosmétiques, CurAge Med, CurAge Spa, and Europelab. Founder of a private Aesthetics Professional School in Montreal, Canada.
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medical spas business review the medicine environment of the future –TODAY
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JAY A. SHORR, BA, MBM-C, CAC I-VI is the founder and managing partner of The Best Medical Business Solutions, a consulting firm assisting aesthetic and cosmetic medical practices and spas in the administrative, operational and financial health of medical practices. He is a motivational speaker, writer, advisor to the Certified Aesthetic Consultant™ (CAC) program and a Certified Medical Business Manager from Florida Atlantic University.
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MARA SHORR, the Vice President of Marketing and Business Development for The Best Medical Business Solutions, is a Level II-VI Certified Aesthetic Consultant, utilizing her knowledge and experience to help clients achieve their potential. She is a nationally published writer and speaker.
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CHERYL WHITMAN, is a published author, a popular speaker and a beauty-industry consultant with more than 30 years experience, including 15 years as the owner of Face Fantasie Day Spa in Fort Lee, New Jersey. As founder and CEO of Beautiful Forever, Cheryl spearheads a successful team of medical spa consultants and business professionals. In addition, Cheryl developed the Medical Spa Success System, a revolutionary program that provides a turnkey educational success system and consulting services package to help clients jumpstart brilliantly successful medical spa businesses.
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ANTI-AGING CLINIC BOOMERS CONTROL 70% OF THE WEALTH IN THE U.S. IS FOR A4M Visit www.worldhealth.net/event for program details and online registration about the upcoming 2016 Sessions of the 24th Annual Congress, including: • May 20-21, 2016: Spring 2016 Session [Hollywood, FL USA], projected attendance 1,500 physicians and health practitioners • December 9-11,2016 [Las Vegas, NV USA], projected attendance 3500 physicians and health practitioners
IS FOR BUSINESS PLAN In order to be financially successful, your practice or clinic's Business Plan must reflect specific and measurable objectives. The Business Plan must also chart the attainment of such objectives on a realistic timetable. Don't be afraid to update your Business Plan on a periodic basis, to reflect course corrections and lessons learned. Your Business Plan should up-to-date and reflect your most current objectives as well as significant achievements. Be sure to convey the objectives of your Business Plan to your staff. Make sure your Plan objectives are universally understood, so your personnel can complete their responsibilities in a fashion conducive to moving your Business Plan forward.
IS FOR CERTIFICATION Professional certification for both physicians and health practitioners serves as a significant professional landmark that assists you with successfully deploying the clinical applications of anti-aging and regenerative medicine in the practice setting. The American Board of Anti-Aging / Regenerative Medicine (ABAARM) was established in 1997 as a professional physician (MD, DO, and MBBS) certification and review board which offers physicians recognition in the form of a specialty-based examination in anti-aging medicine. The American Board of Anti-Aging Health Practitioners (ABAAHP), established in 1999, provides recognition and specialty representation for healthcare professionals (DC, DDS, ND, DPM, RPh, PhD, RN, PA, and NP). Becoming certified in anti-aging medicine helps physicians and health practitioners in three key ways. First, it demonstrates to your patients at your practice or clinic that you have taken an active interest in the science of longevity. Secondly, because they include a written proficiency examination, ABAARM and ABAAHP help to ensure that anti-aging medical professionals have a sound understanding of essential knowledge relating to the clinical
ANTI-AGING CLINIC
an A to Z Checklist
ANTI-AGING MEDICINE IS THE FASTEST-GROWING
application of anti-aging medical care. Thirdly, for physicians, maintaining ABAARM credentials requires attendance at anti-aging scientific conferences (see "A") and securing CME credits, thus helping to enhance the physician's commitment to receive ongoing medical education. of physicians and health practitioners are in-process, or have completed, MoreThousands than 2,000 certification through either the ABAARM or ABAAHP programs. To register for either ABAARM or ABAAHP, send an email inquiry to: exam@worldhealth.net. Later this year, clinics and spas will be able to secure facility certification through the A4M (see "A"). Clinic/Spa Certification aims to recognize those facilities that hone in on facets of service and safety that set them apart from others. Certified clinics/spas will demonstrate characteristics including: physician oversight (preferably one who is Board-Certified, see ABAARM above); compliance with confidentiality standards; multi-modality diagnostics and therapeutics; patient education and compliance guidelines; and other requirements. For more information about the A4M Clinic/Spa Certification program, send an email inquiry to: a4m@worldhealth.net.
IS FOR DEMOGRAPHIC A successful anti-aging practice or clinic understands its target demographic. Typically, the anti-aging patient is on-average about age 45, but it is not uncommon to see those in their early 30s start on a program. Moreover, the typical anti-aging patient is what The Robert Wood Foundation has described as the new “top-tier healthcare consumer,” a demographic who are, as a group: • • • •
college graduates, highly educated high wage earners, household incomes of US$ 70,000+ 50,000+ computer literate “have empowerment as their primary issue,” thus expect to engage “in shared decision making with their physicians”
The typical anti-aging patient will expect personalized care customized for the individual's medical needs. It is common for the precipitating reason for a person to see an anti-aging physician for reasons of looks, such as developing a pot belly, facial wrinkles, or a receding hairline. In many of these cases, an underlying medical reason for the initial "vanity issue" may be identified, such as hormone imbalances, nutritional deficiencies, or toxic overload. These
MEDICAL SPECIALTY THROUGHOUT THE WORLD
diagnoses form the basis for an anti-aging regimen that is individualized. It is also important to accommodate the needs and preferences of this demographic. Read more about these considerations under "H" and "R."
IS FOR EQUIPMENT It is first and foremost to comply with federal, state, and local regulations regarding the maintenance of a sanitary patient contact environment. It is also important to prepare for medical emergencies, for which basic resuscitation and hospital transport equipment are requisite. Be sure to provide these essential equipment and supplies at your practice or clinic. Next, it is important to define which anti-aging medical diagnostics your practice or clinic will offer, and secure the appropriate equipment and supplies to carry them out. A basic of anti-aging medical diagnostics is laboratory testing. It is critical to assess all antiaging patients prior to initiating anti-aging therapies on patients, so as to establish baselines (starting points). For follow-up testing, it is strongly recommended that anti-aging patients be tested at least twice a year. Either/both blood and/or saliva testing can be offered. The basic lab tests for anti-aging include: • Basic blood chemistries: CBC, Electrolytes [Sodium (Na), Calcium (Ca), Phosphorus (P), Potassium (K), Magnesium (Mg), Creatinine (Cr)], etc. • Nutritional profiles: Vitamins (including antioxidants), Amino Acids • Hormonal profiles: Thyroid (T4 and T3), Cortisol, DHEA, Testosterone, Progesterone, Pregnenolone, E2, HGH, Melatonin, 17- ketosteroids, 11-OH steroids; Femalespecific; and Male-specific • Toxic load (for some individuals, depending on environmental and/or occupational exposures): Markers for exposure to xylene, toluene, benzene, trimethylbenzene, styrene, phthalate, etc.; Candida; etc. Equipment for the anti-aging medical therapeutics that your practice or clinic will offer also needs to be secured (see "S"). It is both operationally and fiscally wise to select a few therapeutics to offer initially in opening an anti-aging practice or clinic, and then add on therapies as you grow.
ANTI-AGING CLINIC
an A to Z Checklist
LAST YEAR, THERE WERE MORE THAN 50,000 ANTI-AGING PHYSICIANS IS FOR FIRST IMPRESSIONS
The adage "There is only one opportunity to make a good first impression" holds very true for the anti-aging practice and clinic, because the anti-aging patient can be quite discerning. Pay particular attention to the entrance area, signage, Reception and Waiting Areas, and Consultation Rooms, making sure that each is clean, bright, and neat. Decorate in an inviting but clutter-free fashion, and assign a staff member to maintain these areas in their optimal presentation. Invest in high-quality stationery and letterhead. Because much of a first impression is made via phone, make sure your Reception personnel are pleasant, courteous, and helpful. Remember, your practice or clinic won't have a second chance to impress your patient base.
IS FOR GOALS Establish a set of long-term goals for your anti-aging practice or clinic. This should be accomplished in conjunction with your Business Plan (see "B" above). What is it you seek to do by the one-year anniversary of your anti-aging practice or clinic? By the five-year anniversary? In ten years? When setting your goals, be sure there is a way to measure your progress towards them. If you are aiming to be the most popular anti-aging practice or clinic within a 20-mile geographic area, you should be able to document from where patients are coming, how often they come for consults, how you secure new patients (see "M"), and how you retain existing patients (see "R").
IS FOR HOURS The typical anti-aging patient is discerning and savvy. To succeed, your practice or clinic must be accessible to the target demographic (see "D"), which as a group are high-achievers commonly plagued by time constraints. As a group, anti-aging patients may not be available during standard "9 to 5" business hours. To accommodate these highly stressed and time challenged clients, consider keeping your practice open late for at least one day a week, and/or open for business on Saturday or Sunday. Be mindful, too, that anti-aging patients are not afraid to comparison shop. If your competition offers consults at more conducive hours, you need to make an effort to make similar hours available.
PRACTICING AT MORE THAN 30,000 PRACTICES & CLINICS
IS FOR INSURANCE Anti-aging practices and clinics are exposed to certain risks associated with alternative medicine procedures like hormones and aesthetic medicine. Procuring quality medical malpractice insurance protects you as a healthcare practitioner and your business assets as your practice expands. Standard medical malpractice insurance markets, dominated by a few large carriers and state physicians owned mutuals, have been slow to adapt to the changing needs in providing coverage for such activities. The medical malpractice market is currently in flux. Certain insurance specialty markets have emerged recently who provide top-rated coverage at competitive prices. Providing insurance broad enough to cover practically all alternative and aesthetic medicine procedures. Key issues being the types of procedures and treatments you are performing at your clinic/spa and your specific training and experience for same. Since your practice is also a business, your Business Plan (see "B") should include addressing this key issue.
IS FOR LOCATION As goes the adage, "The three most important points in real estate are location, location, location," such holds true for the consideration of where to open your anti-aging practice or clinic. First and foremost, your facility should be strategically located for easy-of-access. Next, because your practice or clinic caters to a discerning demographic (see "D"), it should be located in a safe and professional part of town. It should also have accessible parking (either street-side or lot). Your patients, both prospective, and existing, need to be able to get to your location easily and simply, and feel secure in spending a half- or full-day at your practice or clinic. Your staff needs to feel similarly reassured, so they can focus on their work responsibilities in servicing your patients.
IS FOR MARKETING When opening an anti-aging practice or clinic, it is paramount to have a sound marketing plan by which you will secure new patients and maintain existing patients. Make the investment in print advertising and distribution. Create an informative, eye-catching newsletter, brochure, or postcard that you will direct mail to a selected target audience (the anti-aging demographic, a specific geographic area, etc.). The mail
ANTI-AGING CLINIC
an A to Z Checklist
ANTI-AGING MEDICINE IS NOT TO PROLONG YEARS OF LIFE BUT TO ENJOY THOSE YEARS IN A PRODUCTIVE & VITAL FASHION
IS FOR UPSELL • Antioxidant and Vitamin Supplementation As part of patientFunction retention (see "R"), your staff will call each patient post• Maximization of Immune consult. This is a one-on-one marketing opportunity not to be • Detoxification underestimated. • Cardiovascular Protection When your staff asks the patient as to their consult s/he should also inquire whether they are interested in any other • Cognitive experience, Function Repair services your practice or A clinic provides. For example, if a patient was identified with nutritional • Metabolic Repair & DN • Skin De-Aging & Repair • Lifestyle Modification IS FOR VALUE • Musculoskeletal Rehabilitation-Sports Medicine-Conditioning As a whole, the anti-aging patient demographic (see "D") is comprised high wage based50,000 on yourorclinical Choose to offer thosewith services that appeal to yofouUS$ expertise , as earners household incomes more, so they areand ableinterests to afford needs ofand yourservices , the anti-aging well as the anticipated target audience (see "D"). Optimally optional products to improve their everyday lives. However, thispractice or clinic should offer a menu of services that are expect optimizvalue ed forfor both client satisfaction and the demographic is price sensitive. They their dollars. When pricing For your , skinorde-aging and repair ongoing product needs byofpatients profitability example , services (see. "S") practice clinic provides, be offers sure not to surpass the pricing surrounding visible and/or immediate patientsshould . your , and high-margins for the practice or clinic or similar facilities. If youprogress do, yourtoservices offer some distinctive characteristic that competition does not provide, and your patients should be made aware of this fact. IS FOR TRAINING IS FOR WEBSITE Postgraduate education and hands-on training are essential elements that define the interconnectivity of today'spractice world, aor website now practically requisite theWith long-term success of an anti-aging clinic.isConsider enrolling in for the visibility and success of your practice or clinic. Your website should present the Fellowship in Anti-Aging & Regenerative Medicine, offered by the A4M (see basicprogram practiceaffords or clinic information, such aswith your of operation "H"), the "A"). The Fellowship anti-aging physicians anhours intensive series of (see seminars "S"), and the corporate visioncomplemented (see "G"). Often as well as on-site services training you withprovide a Board(see Certified anti-aging physician, by times, you can also use your website asforums. a medium through which to program, showcase physicians your patient accomplishments. teleconference discussion From the Fellowship learn You may also elect to offer diagnostic informativeand content relevant to yourfrom area(s) of expertise inclinical anti-aging, comprehensive, real-world treatment protocols world-renowned and perhaps an opt-inDVDs, electronic newsletter. sure,recordings however, that websiteconferences adheres to (see HIPAA experts. Additionally, videotapes, andBe MP3 fromyour scientific (Health Portability Accountability Act) and/or HONarena. (Health on the Internet) codes. "A") canInsurance further your medical and education in the anti-aging medical CONCLUDING REMARKS IS FOR UPSELL If you knew with certainty that you could potentially live a healthy, productive, vital, disease-free As part of patient retention (see would "R"), your staff the willnew call science each patient postlifespan of 125 years or more, we expect that you embrace of anti-aging consult. This is a lifestyle. one-on-one marketing opportunity belook forward to the medicine and adopt the anti-aging Indeed, in the coming years,not weto can underestimated. When yourcontinued staff asks the patient their consult assuming Life Extension Dividend, which extrapolates robust gainsasintolife expectancy experience, s/he should also inquire whether theyadvancements are interested that in any successful application of anti-aging biomedical and technological areother proven in services your practice or clinic provides. For example, if a patient was identified with nutritional the laboratory setting to expand the lifespans in multi-species studies.
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