Assess Your Independent Units
When you add new specialties into your aesthetic practice, it is important to consider how each unit will run independently. For example, if you are a plastic surgeon, you may have a med-spa and an anti-aging unit in addition to your surgical unit. For each unit you bring into your practice, you should have a firm understanding of:
Revenue and Gross Profit—How much does each unit contribute to your bottom line?
Marketing—How will you bring customers in for each specialty?
Lifecycle—How will you bring customers back?
Although it is important to understand how each of these components works on its own, it is also necessary to understand how to integrate these different specialties together. Effectively combining these two will help you get the most scale and benefit for your practice.
Mindfully Integrate Your Approach
When taking an integrated approach to your multi-speciality practice, consider the following:
Human Resources—Educate your team across all business units to provide more scale and margin per independent business unit.
Branding—When you bring on new business units, you are no longer just a dermatologist, or just a plastic surgeon. Instead, you are a holistic unit for health and beauty. Your branding should follow, so as to more accurately reflect your new business identity.
Upsell and Cross-Sell—Create a strategy to either cross-sell or upsell additional products or services to patients who enter seeking only one unit of your business.
Although specializing helps to hone your unique understanding of each unit, integrating will help maximize your efficiency for the greatest profit.
