Growth Strategies for Plastic Surgery Practices
Elevating Your Plastic Surgery Practice
Plastic surgery practices are part of the exciting and rapidly-evolving medical aesthetics industry. Plastic surgeons can be perfectionists, helping their patients achieve refined, elegant results. But they don’t only pursue excellence in their work as surgeons, but also in the way they run their businesses. We love helping practice owners elevate every facet of their practices, from operations to culture to finances to patient experience. This article outlines some of our consultants’ growth strategies for plastic surgery practices.
Whether your vision is to elevate your existing practice, increase cash flow, open another location, or eventually sell, these strategies are imperative to elevating your plastic or cosmetic surgery practice now and for the future.
Growth Strategies for Plastic Surgery Practices
Start with a clear vision.
It seems simple, but your success hinges on having a clear vision for your business. Why did you start your business in the first place? What clients do you aim to serve and with what services? What’s in your business’s secret sauce?
Your vision will impact your operations, your culture, your marketing, and ultimately your patients. First, identify what sets your practice apart from others – whether it’s your specialization in a particular procedure, cutting-edge technology, exceptional patient care, or a renowned medical team. You can consider both your unique strengths as well as your goals for the future. With your vision in mind, you can set out to create a roadmap to meet your goals.
Make data-driven decisions.
In order to track your progress, you need to create a system of strong data collection. We like to think of data like the headlights of your organization. You can’t see what’s coming down the road without the headlights on–it’s like driving in the dark. A thriving business knows its financials and Key Performance Indicators (KPIs), and uses them to forecast data over time.
Effective leaders may have good instincts, but they rely on data to make the big decisions. By analyzing your data and financials, you can make informed decisions, allocate resources strategically, and refine your approach over time.
Create a well-functioning team.
With a vision in mind and the data to keep you on track, now it comes down to your team. Each person in the organization should understand the shared vision and their role in carrying it out. Not only that, they should be able to take ownership of the vision because they feel valued, motivated, and included as a part of the team.
Building a strong team means you’ve got to hire the right people, create a competitive compensation plan, keep them motivated, and ultimately retain great employees for the long run. Part of your culture building and retention strategy might be a focus on professional development and continuing education for providers and staff. Not only will this help you foster of culture of learning and make your employees feel valued, but it will also help you serve patients with cutting-edge treatments and excellent care.
Create an over-the-top patient experience.
Keeping in mind that most cosmetic surgeries are voluntary, it’s crucial that you offer an over-the-top experience for patients at every touchpoint. This starts with the way you build your online presence to attract new patients, to their first phone call, consult, procedure, and follow-up. Your goal is to foster a lasting, positive connection with patients that transcends procedures.
A top-tier patient experience involves constant monitoring, fine-turning, and receiving feedback. It also requires training your staff in the way they communicate with patients. Empathetic communication ensures patients feel valued and understood throughout their engagement with your practice.
In order to scale, build an infrastructure and systems that are replicable.
If your vision is to open another location or plan an exit strategy, you need to build an organization that can run without your constant oversight. This requires a solid infrastructure and systems that work. Of course, if you’ve got a clear vision, you’re tracking KPIs, and your team is efficient and engaged, you’ve got many of the pieces of the puzzle already in place. Perhaps the only thing left is to find a trusted partner to help you carry out your vision every step of the way.
We think we know a team who can help with that.
Financial, Operational, and Strategic Advising for Plastic Surgery Practices
Skytale Group is a trusted management consultant in the medical aesthetics field, specializing in financial, and operational strategies that help you reach your goals. Reach out to learn more about our team’s experience serving plastic surgery practice owners.
