Practice Management | Revenue & Finances | Financial Management
A new year has arrived and so have fresh chances for business growth. Specialty healthcare practices have a prime opportunity to set themselves up for financial success by leveraging the right technology. The key lies in evaluating past performance, setting clear goals, and aligning the appropriate tools to meet these objectives. Here’s how your practice can make 2025 your most profitable yet.
Practice Management | Patient Care
About 90% of American adults struggle with health literacy, resulting in confusion around diagnoses, preventative health, and treatment options. That means the vast majority of Americans aren’t getting the best health outcomes possible or truly understanding what they need, placing undue strain on the healthcare industry. This problem is a long-term challenge, but there is a solution: commitment to providing clear, thorough, accessible patient education can help greatly reduce patients’ frustration.
What do Botox, dermal fillers, and tissue lifting all have in common? They’re noninvasive procedures that can be offered by med spas and plastic surgery practices. In recent years, noninvasive procedures have become more popular and accessible. They provide patients’ and clients’ desired cosmetic results in less time, without a lengthy recovery process, and with fewer side effects.
Data reporting is a necessary chore for medical practices, particularly those receiving government funds.
In a relatively short time, the med spa industry has grown into a juggernaut. Within the last three years alone, the number of med spas in the United States has doubled. While interest in med spa services has increased, so has the competition for that business. Fortunately, your med spa can stand out by compiling a medical spa services menu with the most in-demand med spa services — and the ones that are most profitable for your practice.
A successful dermatology practice has a lot of moving parts: clinician expertise, patient engagement, competitive marketing. But all those efforts are for naught if your billing system doesn’t keep the cash flowing in.
There’s never been a better time to start a med spa. In 2023, the industry was valued at $18.79 billion in annual revenue, and it's expected to continue growing. Opening a med spa can be a smart financial move. But it's only possible if you meet the licensure requirements to do so.
It may seem like nearly everywhere you go, a new med spa is opening. And the truth isn’t far from that perception. From 2021 to 2024, there’s been a 100% increase in the number of med spas in the U.S. But are med spas a profitable long-term endeavor or a passing fad?
