The Secret Sauce to Increase Revenue for Your Medical Aesthetics Practice by More than $2M a Year

What if I told you that YOU hold the power to increase revenue for your medical aesthetics practice by upwards of $2 million by taking one simple action step? Would you jump in feet first with a “Hell yes”?

That’s what Dr. Paco Canales and Dr. Heather Furnas, renowned plastic surgeons and Co-Founders of Plastic Surgery Associates and Allegro Medspa in Santa Rosa, California, did when they first started working with Terri Ross Consulting and increased their revenue by $2.5M in just one year. By the way, they recently sold their practice to Cosmetic Physician Partners.

Hear what Dr. Paco Canales and Dr. Heather Furnas said about working with Terri Ross Consulting prior to selling their practice in the video below.

Gabriela Rodriguez, Owner of Olam Medspa, also took that same first step to increase revenue for their medical aesthetics practice by $2M in her first two years open for business. Olam Medspa has since been featured in Forbes Magazine Columbia Edition for their incredible success story.

Laura Matjasich, Founder and CEO of Majestic Aesthetics and Wellness said, “Just think of when you were my coach in a tiny little one room and now I just built my own building!”

...and there are more amazing success stories of practice owners and managers just like you who sought to increase revenue in their medical aesthetics practices and succeeded!

You might think, “That all sounds amazing, Terri, but can those numbers really happen for me?”

I promise you there is no magic fairy dust only available for certain practices. The journey to increase revenue for your medical aesthetics practice begins with a single step – investing in a comprehensive Business Evaluation.

Understanding the Power of a Business Evaluation: 5 Revenue-Boosting Benefits for Your Medical Aesthetics Practice

At its core, a Business Evaluation isn't just a routine check-up; it's a strategic deep dive into every facet of your practice. From financial performance to operational efficiency, your team, training, compensation, pricing, customer satisfaction and so much more. It's about uncovering hidden opportunities and optimizing every aspect for maximum impact to increase revenue for your medical aesthetics practice.

1. Strategic Decision Making for Market DominationA Business Evaluation acts as the guiding compass for strategic decision-making. By examining financial data, analyzing market trends, and understanding patient demographics, aesthetic practitioners gain a strategic edge. This insight fuels informed decisions on service offerings, pricing strategies, and targeted marketing campaigns--positioning the practice as an industry leader and unlocking new revenue streams, ultimately leading to increased revenue for your medical aesthetics practice.
2. Precise Resource Allocation for Maximum ReturnsIn the quest to increase revenue for your medical aesthetics practice, efficient resource allocation is vital. Through a rigorous Business Evaluation, aesthetic practitioners can identify underutilized resources, streamline processes, and allocate budgets with surgical precision. Whether optimizing staffing, investing in cutting-edge equipment, or renegotiating vendor contracts, strategic resource allocation drives operational efficiency and fuels revenue growth.
3. Elevated Patient Experience Creates a Referral PowerhouseIn the competitive landscape of medical aesthetics, patient satisfaction is the ultimate currency. A Business Evaluation provides crucial feedback on every touchpoint along the patient journey. By actively listening to patient feedback and monitoring satisfaction metrics, practitioners can elevate the patient experience. This not only fosters unwavering loyalty but also transforms satisfied patients into passionate brand ambassadors, exponentially increasing referrals and helping to increase revenue for your medical aesthetics practice.
4. Cultivating a Culture of Innovation for Market LeadershipInnovation isn't just a buzzword; it's the cornerstone of sustainable revenue growth. A Business Evaluation nurtures a culture of continuous improvement, igniting innovation among practitioners and staff alike. By closely monitoring market trends, embracing technological advancements, and leveraging patient feedback, practices uncover opportunities for groundbreaking innovation. Whether introducing pioneering treatments, adopting cutting-edge technologies, or revolutionizing service delivery, innovation propels the practice to the forefront of the industry, captivating new markets and driving exponential revenue growth to increase revenue for your medical aesthetics practice.
5. Financial Performance OptimizationUltimately, revenue generation hinges on robust financial performance. Business evaluation empowers owners, managers, and practitioners to review financial metrics, from revenue streams to profit margins and cash flow. By conducting meticulous financial analyses and identifying Key Performance Indicators (KPIs), practices can uncover hidden revenue opportunities and implement strategies to maximize profitability. Whether optimizing pricing structures, trimming overhead costs, or diversifying revenue streams, proactive financial management is the key to increase revenue for your medical aesthetics practice and long-term success.

How Does the Business Evaluation Process Work for a Medical Aesthetics Practice?

First off, let me explain that the Business Evaluation my team performs is not a “cookie cutter” assessment. It’s only available exclusively to my clients and is based on my years of experience and proven methodology managing and scaling medical aesthetics practices to multi 7-8+ figures.

It’s a comprehensive process and robust document that involves gathering all your data and answering a series of questions about every area and department within your practice such as:

• Your WHY, your Unique Value Proposition
• Staff
• Training
• Service offerings
• Compensation
• Pricing
• Marketing
• Systems
• Payroll
• Financial data

Based on the information you provide, my team will request certain additional information and documents, and perform a detailed analysis report with a strategic plan of action that identifies areas of opportunity and provides a step-by-step plan to implement improvements. You’ll get a 90-minute call to go over the findings in the comprehensive formal business report and discuss the next steps.

While you may intuitively know your weak areas, or think you can do this on your own, ask yourself honestly, do you have the expertise? Or would it save you time and money working with an expert consultant? Following their advice can get you further faster as often we are too closely working in our business to get the full picture of what is going on with your business from an objective perspective.

How Will a Business Evaluation Help Me Increase Revenue in My Aesthetic Medical Practice?

Once your practice undergoes a Business Evaluation, you'll gain a comprehensive understanding of its baseline and overall health. This evaluation enables you to discern what strategies are effective and which ones are not, pinpoint areas of potential revenue growth, and make data-informed decisions to adjust course as needed. Additionally, you'll become familiar with industry benchmarks and key performance indicators, enabling you to optimize team compensation within budget constraints, promptly implement necessary changes, and enhance overall profitability and operational efficiency.

You’ll also acquire invaluable insights to:

• Analyze expenditure and cash flow patterns.
• Assess your Revenue per Hour against industry standards.
• Review conversion metrics and receive tailored suggestions for enhancement.
• Enhance consultation procedures and develop robust follow-up protocols.
• Strategize long-term treatment plans to elevate patient outcomes, revenue, and retention.
• Develop a sustainable compensation structure aligned with productivity and merit benchmarks.
• Allocate marketing resources to maximize return on investment.

Are you ready to start the Revenue Revolution to increase revenue for your medical aesthetics practice?

In the dynamic world of medical aesthetics, success isn't just measured in skillful procedures or state-of-the-art equipment; it's about harnessing the transformative power of a strategic Business Evaluation.

By unlocking the revenue-boosting benefits of a Business Evaluation, medical aesthetic practices can soar to new heights of success, generating millions in additional revenue each year. So, it’s truly up to you. Will you seize the opportunity to analyze, strategize, and revolutionize your practice and take the first step on the pathway to unlocking unprecedented revenue potential and solidifying your position as a powerhouse in the world of medical aesthetics like Dr. Canales and Dr. Rodriguez did?

Or a better question might be:

How much is it costing you NOT to perform one?

Increase revenue for your medical aesthetic practice faster and more efficiently with the help of the experts at Terri Ross Consulting. My team and I are ready to support you. Get started or learn more about a Business Evaluation or one of our other programs designed to help you “Go Further, Faster!”