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Top 5 Money Makers in Your Practice

money makers in your practice

There are 5 essential money-making operations that occur in ANY successful plastic surgery practice.

If you miss any of these 5 key elements, you’re leaving a lot of money on the table – often several HUNDREDS of thousands of dollars.

However, the reality is that most practices focus on ONE area only (instead of all five) and that is hurting them, and they don’t realize it.

I guarantee if you focus your time and energy on these five areas, you will attract more patients, perform more procedures, and make more money….. all with less effort.

Here are the 5 key areas to focus on to win:

  • Lead Generation
  • Converting callers into appointments­­­­
  • Converting appointments into paid procedures
  • Encouraging these patients to return, review, post, and share
  • Building an army of raving fans who refer you to their friends and family

Think about it. Don’t a majority of your surgeries come from word of mouth referrals and from existing patients coming back for more?

So, the biggest problem holding you back is your narrow focus on “getting more leads”. You might
be throwing a ton of money at SEO, Google AdWords, social advertising and directories OR you’re spending a ton of time creating content for your Instagram and Facebook followers.

Yes, it’s exciting to get lots of leads and comments but here’s the kicker…Leads are only one part of the new lead process.

money makers in your practice

These leads need to be converted because if you can’t monetize these leads, then you’re throwing money down the drain.

However, if you KNOW how to monetize the leads through the other 4 key elements mentioned
above, then you can run circles around your competitors and even CRUSH them.

Here’s an example:

  • Let’s say your competitor is spending $2,000 per month on PPC. For this amount, he gets 10 people to call. Most of the PPC leads are “price shoppers”, so let’s say he converts 4 out of 10
    into an appointment. Only two of them show up, and only ONE of them is getting a procedure
    for $1,000. Your competitor doesn’t follow up with the leads, so they are lost. This means he makes $1,000 from the 10 leads, and he spent $2,000. Does that sound familiar?
  • Let’s say YOU are spending the same $1,000 per month on PPC. You also get 10 people to call. However, your staff has a proven sales script that gets you SIX appointments (instead of 4 like your competitor). All of these SIX are excited to see you, so all of them are showing up for a consultation. You close 3 of the 6, and you’re offering the SAME procedure for $800. You make $2,400 on the initial call. However, you have a proven system in place, and over the next few weeks you systematically follow up with the remaining 7 leads that did NOT book a procedure. Through systematic follow-up, you’re getting 1 more patient out of the remaining 7, bringing your total revenue to $3,200. You upsell your 3 new patients on skincare or more Botox, and you earn an additional $1,500. In addition, you get 2 more reviews from them, and 1 out of the 3 new patients refers a friend. The friend does the same procedure for $800, so your total revenue is now $5,500 for the $1,000 you spent on PPC.

Let’s compare: Your competitor made $1,000 on a $1,000 investment, and you made $5,500 on a $1,000 investment.

money makers in your practice

So, what do you think your competitor is doing next? Probably “testing” PPC for a few more months, getting increasingly frustrated that he’s not making money and then moving on to another marketing strategy that sounds interesting.

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And what will YOU do? Since you’re making $5.50 on each $1 that you spend on PPC, you will spend as much money as possible, constantly tracking your results to ensure that you’re getting the same return on your investment and within a few months, you will DOMINATE your zip code while your competitors are still fiddling around with the next shiny object strategy that comes their way.

money makers in your practice

Do you see how focusing on a plan that includes all 5 money-making operations makes all the difference in your revenues?

Before you write off a certain marketing strategy, look carefully at your results and back-end processes to determine where the breakdown is since there’s a chance it’s not what you think.

money makers in your practice

Ask yourself:

  • How quickly do we respond to these leads?
  • Can our receptionist convert our callers to appointments?
  • Is our coordinator equipped to convert our consultations to paid procedures?
  • Do we have a plan in place to encourage our patients to return, refer, and review?

If not, what is that costing us?

Attracting new cosmetic patients online has become a big expensive challenge for surgeons like yourself so it’s time to fight back by having your operations in tip-top shape as diagramed above.

TESTIMONIALS

5/5
"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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