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Plastic Surgery Business Principles

In order for you to run your practice like a profitable business, you need to know the plastic surgery business principles.  These 4 core principles take you from pain to profits in a lot less time and with a lot less headaches. 

When you think like a businessperson versus a surgeon, you run your practice like a business. It’s no longer just a job you’re created for yourself. That means you no longer shoulder all the responsibility for generating revenues. You take time off and still have peace of mind knowing your practice is running without you. And, you finally have quality time with your family.

These are the 4 core plastic surgery business principles to focus on:

Business Principle #1:  Transform Your Staff into a Team of Rock Stars

One of the most important abilities to master is to transform your staff into your dream team of rock stars.

Plastic Surgery Business Principles

It all starts with a strong vision of leadership…

However, most surgeons are only managers, and there’s an important difference between “leadership” and “management”.

 Management is a bottom-line focus: How can I best accomplish certain things?

Leadership deals with the top line: What are the things I want to accomplish?

If you are only “managing” your team, then you only have “staff”. But if you provide leadership and vision, then your team gets aligned with YOUR purpose.

 They will LOVE working for you and making you money, because they know where you are going, and they want to be a part of it because it’ll affect their lives as well.

Business Principle #2: Strategic Marketing and PlanningPlastic Surgery Business Principles

The most successful plastic surgeons I know aren’t looking for a hot opportunity to change their practice. They are STRATEGIC.

Instead of chasing shiny objects that turn out to be distractions and time wasters, they create a strategic business plan and well thought out marketing machine that focuses on what REALLY brings in patients and revenues. 

Then, they use patience to stick to the plan. Rather than jump from one opportunity to another, they let their plan work for them to bring in a steady stream of patients.

Plastic Surgery Business PrinciplesBusiness Principle #3:  Set Standards so You Don’t Compete on Price 

Rather than compete with price-slashers, successful practices set new standards for the patient experience that strategically attracts “the right patients”. 

The “right patients” who are more than happy to pay premium price for the skills, expertise, connection and the experience you offer.

It’s the patients who keep coming back for more cosmetic procedures because they consider you to be the BEST choice and rave about you to their friends and family.

The secret is to change your focus to how much that one procedure is worth to you vs. what is the LIFETIME value of NOT ONLY that procedure but the countless OTHER procedures you get when that patient returns again and again and refers their friends and family.

 It’s long term practice growth through relationships versus short term transactions that lead to “one and done”. 

Business Principle #4: Create A Practice You Can Sell for Millions

Imagine for a minute you owned the perfect plastic surgery practice.

What would it look like?

If you’re like most surgeons, your perfect business model would be: 

  • Almost completely run by your team
  • Organized and systemized
  • A great place to work that attracts top talent
  • Built on satisfying loyal patients and turning them into raving fans
  • Rake in at least double the average industry profit
  • Growing in size and consistently growing your personal wealth
  • Give you complete freedom and flexibility
  • Be fun to own without the headaches that often come with being the business owner 

Basically, you would have a practice that you enjoy going to every day AND/OR that is attractive to other surgeons to buy if you want to exit.

It’s Time to Think of Your Practice Like a Business

If you’re like most surgeons, your current reality isn’t at all like you dreamed it would be.

The average surgeon is overworked. Stressed out. Underpaid. They have little life outside their practice because they feel out of control and worry about their practice 24/7.

That means surgeons are not happy with their practice, staff, patients, or the money they are making. But they stay in business, doing what they know how to do because they don’t know how to fix their problems. They don’t know how to make their practice work for them as opposed to them working for their practice.

But here’s the good news…. you can embrace these plastic surgery business principles and install formalized systems inside your practice. Then, you’ll be able to show anyone you bring on in your practice exactly what is expected. 

You’ll be able to trust them to do their job properly. 

You will be free from constant, full-time supervision, micromanaging, and continuously having to give directions which frees up your time to grow your practice. 

The net result, with systems and plastic surgery business principles, means you’ll make more money and have more fun with less stress. Your practice will be efficient, fast, productive, problem-free, and profitable.

 The “right” patients will notice your quick execution of detail, your consistent reliability, and the congruency between what you say and what you do.

 And that’s how you go from merely surviving the stresses of running your practice to peace of mind knowing you are have a well-oiled machine that allows you to enjoy your own interests and spend quality time with your family.

If you would like assistance setting up your cosmetic practice to be a sellable asset when it comes time to exit, let’s talk. 

 

Plastic Surgery Business Principles

 

Check out my Podcast – BEAUTY AND THE BIZ: EP 71 Business Principles of Running a Successful Practice

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TESTIMONIALS

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"Catherine outlined a plan that put key metrics in place, gave us a clear plan to follow throughout the year and trained our staff to increase their conversions by at least 10%. Since engaging with Catherine, I’m happy to report that revenues are up 15% over the last three months - 22% in the last month alone! I highly recommend Catherine’s consulting services to any practice looking for “best practice” additions to their operation."
Robert Sigal, MD
Robert Sigal, MD
"I have finally tapped into the most efficient way to grow my cosmetic practice and that is to “fish in the pond of my own patients”. When patients return to my practice, over 85% will purchase another service, product, or procedure. Not only was it worth over $200,000 in revenues this past year, it also reminds my patients I’m still around so they don’t wander off to my competitors. Catherine’s group has far exceeded our expectations and goals we had set up for them to achieve."
Victor Ferrari, MD
Victor Ferrari, MD
"Our consult conversions were running at 40-50%. Then we attended Catherine’s online training and implemented her strategies. They immediately increased conversion rates to 75-80%."
Anthony Corrado, MD
Anthony Corrado, MD
"I know how to run a profitable practice; however, it was not without major staff issues, inefficiencies and unproductive drama. With Catherine's guidance, I reorganized staff, set up processes for them to carry more of the workload and hold them accountable so I have more time to focus on patient care. The changes we put in place and the staff training to convert more callers and consultations will easily increase my revenues by 15% as well as save us time, money and costly mistakes. "
Evan Sorokin, MD
Evan Sorokin, MD
"Working with Catherine and her team has been very profitable. We’re only half way through the year and I’m up $200K and I’m booked out for the next 2 months even though we typically go into our slow summer months now. Her recent promotion brought in an extra $63,782 with more surgeries scheduled. I never realized how much money was sitting in my patient list but I’m a believer now!"
Robert Langdon, MD
Robert Langdon, MD
"Catherine Maley has one of the best Marketing Minds in the aesthetic industry, bar none. She understands the aesthetic patient and she also understands the challenges and frustrations we face as aesthetic surgeons. You will benefit from Catherine's tools whether you are new in practice or a seasoned professional.Turn to Catherine for guidance - she knows what she's talking about."
Edwin Williams, MD
Edwin Williams, MD
“Catherine’s Cosmetic Patient Marketing Service has been a great addition to our practice-building overall plan. While we still invest in our online presence, we also found immense value in the internal marketing efforts. We especially like that all results are tracked so we know we are getting a great return ... last year it was 1,148% and no staff time was used. That’s a much easier way to grow my cosmetic practice.”
Mark Mason, MD
Mark Mason, MD
"Catherine Maley turned our practice around. We converted more consultations in one week than we did in an entire month. Our practice went from a painful 50% no show rate to a remarkable 85% show rate. Even more impressive was our close ratio - from 35% to 80% and still increasing. We would recommend her to any practice that’s looking to not only increase their profits today, but sustain a healthy flow of income for many years to come. Thanks Catherine!"
Sam Assassa, MD
Sam Assassa, MD
"Catherine found me the best patient care coordinator I could have asked for. She worked out a payment plan that was fair to me and motivating to my coordinator. She also provided training tools to help my coordinator convert better, even though she was already experienced. The results have been phenomenal. So good, in fact, that my income increased 250% and I’m booked out for 3 months. Don’t waste any more time or money doing it yourself. Outsource to someone you trust!"
Andrew Lofman, MD
Andrew Lofman, MD
"Since we’ve been working with Catherine and her team for the past 5 months, we’ve brought in $79K in surgeries and have booked an additional 17 surgical procedures and 20 non-invasive body procedures since then. This does not include the additional new patient referrals and revenues we are seeing from the on-going nurturing of my current patient database."
Verne Weisberg, MD
Verne Weisberg, MD
"I had given my staff the goal to convert at least $35K per week in surgeries AND I gave them the tools to help which was Catherine’s Online Learning Center at More Patients Academy. They watched Catherine’s modules and implemented her strategies and converted $80K! That equaled a 2,550% ROI. Nice!"
Adam Stein, MD
Adam Stein, MD
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Catherine Maley

Catherine Maley

Catherine is a business/marketing consultant to plastic surgeons. She speaks at medical conferences all over the world on practice building, marketing and the business side of plastic surgery. Get a Free Copy of her popular book, Your Aesthetic Practice: What Your Patients Are Saying View Author Profile.

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