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Dive into the multifaceted world of aesthetics with a podcast that encompasses it all. From cutting-edge plastic surgery procedures and dermatological treatments to the nuances of practice management, we've got you covered. Each episode offers a blend of insights into the latest treatments, tools, and technologies, along with invaluable tips for managing and growing a thriving practice. Discover industry trends, gain insights from key decision-makers and influencers, and uncover the secrets behind the most successful practices. With a mix of clinical expertise and actionable business strategies, this podcast is a must-listen for both seasoned professionals and newcomers eager to navigate the aesthetics industry. Whether you're honing your techniques or refining your practice's operations, tap into a wealth of knowledge that propels you to the forefront of aesthetic excellence.
Alison Werner (00:12)
Hello and welcome to the Plastic Surgery Practice podcast. I'm your host, Alison Werner. We're back with part three of our series on growth pathways and business strategies for medical aesthetic practices. In our first episode, we explored the current state of the industry and the importance of business fundamentals and training. In the second episode, we tackled the ozempic weight loss trend and discussed how to integrate it into your practice as a long-term patient relationship opportunity rather than a one-off service.
In this episode, we're diving into another powerful avenue for growth, wellness. As patients increasingly seek holistic approaches to their health and appearance, the concept of wellness is reshaping the landscape of aesthetic medicine. But what does wellness really mean for plastic surgery practices traditionally focused on surgical solutions? And how can practices incorporate these services in a way that enhances patient loyalty, retention, and profitability?
Once again, I'm joined by Terry Ross, a leading practice management expert to help us understand how wellness offerings can complement your surgical practice, meet patient demand, and drive sustainable growth.
Now, Terri is the CEO of Terri Ross Consulting. With nearly two decades of experience, she specializes in helping medical aesthetic practices achieve sustainable growth through strategic business development, team training, and data-driven solutions, empowering providers to maximize efficiency, profitability, and patient outcomes. With that, let's jump in and explore this new growth pathway.
Alison Werner (01:38)
So Terry, I know in talking to you, all the rage right now in the aesthetics industry is this idea of wellness. But my question is, what does that mean, especially for a plastic surgery practice that is typically focused on surgical approaches for their patients? Because the fact is, patients are looking for alternatives to surgery now. So how do practices meet them where they are? So I guess maybe to start, let's talk about what does wellness even mean in this industry today?
Terri (02:07)
I know that's such a great question, Alison. Thank you so much. You know, I think if we look at the evolution of plastic surgery and aesthetic medicine as a whole, you know, functional, integrative medicine and wellness, it's just becoming such a relevant topic in the field and it's gaining so much more traction because patients and surgeons, you know, frankly, have to recognize that the clients want a overall, like, holistic approach.
to wellbeing, which in turn again is going to generate better patient outcomes. And if you think about the industry, everyone is striving for retention. And it's hard to manage. It's hard to track with traditional software. But if you look at like other big industries, consulting industries like McKinsey, what we're showing is that the wellness industry is growing.
exponentially. mean, my God, I think I have some stats here that, you know, it's about a $4 .4 trillion and it's growing 10 to 15 % annually. Patients are more likely to return 60 % more likely to return when we're engaging in these other types of services. Those are pretty astounding numbers that we have to pay attention to if we want patients to be loyal to us.
Alison Werner (03:19)
Wow.
Okay. Yeah.
Okay, so what type of services are under this umbrella?
Terri (03:39)
You know, I think when we think about the types of treatments, I mean, we talked a little bit last time about weight loss. We're looking at stem cell therapy. We're looking at, you know, IV therapy. We're looking at hormone therapy. I mean, there's so many things that can fall under this category. And it's really a matter of
Alison Werner (03:59)
Okay.
Terri (04:01)
we know where practices want to go and what they want to offer.
Alison Werner (04:05)
Okay, so when you've worked with practices, what have you seen that has worked for a plastic surgeon? Because what you listed there, that's a whole host of services. And it sounds like maybe that might involve bringing in other practitioners to offer some of that. So what's a good approach to doing this?
Terri (04:24)
Yeah, I think that one, you have to really define and I could pick this apart. Obviously there's things for lymphatic drainage and oxygen therapy and cry. There's so many things I. And it's easy to get confused. It's easy to get caught up in the hype at conferences when people are selling these things. I think it's very important to really go back to the basics.
Alison Werner (04:30)
Mm -hmm. Mm.
Terri (04:51)
And what I mean by that is what type of a practice do you currently have and do you want?
and put real meaning behind that. Because we are changing mindsets. It's not just about doing good medicine and doing good surgery. It's not that that is paramount, but it still is a business that we have to run, sustainability and profitability. We have to, and efficiently. And in order to do that, again, it requires a lot of money to gain new patients. So what does our current patient base look like? How many people return?
Alison Werner (05:04)
Mm
Yeah.
Right.
Terri (05:30)
What are they coming in for? What's the average spend? And then the philosophy of the company. So when you make it a philosophy, then these other services don't become optional, if that makes sense. So obviously I'm very passionate and I'm on faculty. I'm so honored to be on faculty at all of these surgical societies and in the non -surgical space too. And what we really need to pay attention to is
Alison Werner (05:37)
Mm
Yeah.
Yeah.
Terri (05:58)
How can I build this comprehensive holistic treatment plan to get the patient the best outcome that will require many of these modalities that augment the outcome? So that's the priority. They're going to augment the outcome because you believe it's the right thing to do. And when you believe it's the right thing to do, this isn't salesy, and patients are now exposed to other added value treatments that are impactful.
Alison Werner (06:07)
Mm -hmm. Yeah.
Mm
Terri (06:28)
can now bring them coming back in when they already had the facelift or the tummy tuck or the breast dog, but now I'm coming back in for these other things that are beneficial on a holistic level.
Alison Werner (06:32)
Right? Yeah.
Okay, so talk to me about some of the things or some of the services that you're seeing that are really creating that relationship with the patient that you think are good options. Because if somebody's looking, if a doctor is looking or a practice center is looking to start this and they don't know where to start, what are some things that you think are good place to start?
Terri (07:06)
Again, that is such a loaded question because it's really going to be dependent on the respective practice. If you're a body guy, then a girl or woman, you're going to want to focus, in my opinion, I always say there's riches in the niches. So if you're a body surgeon, you're going to want to focus on things like Shape Scale is a new product on the market backed by significant investors.
Alison Werner (07:08)
Mm.
Mm.
Mm -hmm.
Terri (07:34)
And it's taking over sort of the in -body device where it can measure body mass, water, weight, circumference, in addition to look at inflammation internally. I mean, it's incredible. And why would something like this be valuable? If I'm a body surgeon and I'm looking, right, and we're doing all these surgical treatments, what else can keep people coming in the door? And so something like that is beneficial. Lymphatic.
lymphatic, not even just lymphatic manual massage, but there's a lot of modalities out there that offer a lymphatic. These are all combination therapy. Again, certainly IV therapy. Now I don't promote IV therapy. It's not necessarily a moneymaker, but it can be a valuable add -on. Oxygen therapy. But again, it's really dependent on the practice. Now if you're facial plastic, you might offer something else.
Alison Werner (08:10)
Yeah.
Mm
Yeah. Right. Well, I appreciate that you said that because if they can just approach it as, okay, if I am someone who focuses on facial aesthetics, then this is the group of services I'm going to offer. If I'm looking at more looking at the body, then you know what? I'm maybe not going to look at the facial stuff right now. I'm going to start in on this journey looking at what are the body services I can offer that can complement the surgical procedures I'm doing. So at least that gives them an idea of where to start.
Terri (08:39)
Yes. Yes.
Yes. Yes.
100 % I think again back to it again it's easy to get swept up in these new and new shiny fancy toys that doesn't mean they're going to be beneficial for your practice it doesn't mean your clients want them it doesn't mean your team can sell them and then they end up sitting there so let's be smart we have to be strategic and we have to be smart and there's easy ways to do that right do a survey monkey to your patients ask them what they're looking for
Alison Werner (09:06)
Mm -hmm. Right, exactly. Right.
Mm
Terri (09:23)
Start to look at the data. Again, do people come back? Why or why not? If you have a med spot or offer nonsurgical things, and I would imagine 90 % or more of surgeons do, how much of the revenue is coming from where? Because when we start to look at our business in that lens, we can make informed decisions versus, my god, I love this thing and it's amazing. Well, maybe it is, but is it right for you?
Alison Werner (09:49)
Right. Right. So how do you as a how what do you recommend to practices that are looking to do this? And as a doctor and as a staff, you have to talk to patients about it. What do you how do you recommend they take that approach to start to talk to patients about that holistic approach?
Terri (10:00)
Mm
Yeah, I think it goes back. I will always, again, be very bullish and bold with conviction and passion is that it really has to go back to the training, the training of your entire team. Again, it's very simple to hire people and put them in a role. But what is their why behind their job? What is their role? What KPIs are they tied to? And we have to go back to say, well, what is my process? I think the industry lacks a process.
Alison Werner (10:20)
Mm.
Mm.
Hmm.
Terri (10:36)
Meaning, if Alison came in and then Mary was at the front desk and then Larry was there the next, like, is it a systematic, right? What does the company have SOPs? And that conversation begins with using the right tools, such as a cosmetic interest questionnaire. Then it becomes an easier conversation to open up a door.
Alison Werner (10:44)
All right.
Yeah.
Terri (11:01)
when you're introducing something on a piece of paper because you think it's the right thing to do to expose clients to all of these other things. Statistics show 60 % of patients said they did not know practices offered certain things. Why? Because we don't educate them. We treat it transactionally. They come in for the consult. We talk about the one thing or the two things, and then they go. And then that's it. Then there's no follow -up.
Alison Werner (11:18)
Mm.
Yeah.
Terri (11:28)
45 % of people are never followed up with it all. So if we can just go back to the basics, say, what is the philosophy of my practice? How well is my team trained? Are we using the right tools in the consultation? How valid and how good is the consultation? And are we building a treatment plan? And that needs to be not optional. If you're surgeon, if you're a provider, you have to believe that that's just the right thing to do.
Alison Werner (11:31)
Hmm.
Mm.
Terri (11:55)
And that is the only way, that is truly the only way to build loyalty, to build retention, to have better outcomes and to make money, which is what everyone wants.
Alison Werner (12:04)
Yeah. Yeah. Well, especially as you said in a previous episode, you know, the fact is the market is down. So you've got to find a way to offset some of those numbers. So what metrics should practices be looking at as they're undertaking this and as they're gauging whether these things are working?
Terri (12:11)
Mm
Yeah, think we have to look at, one, really let's pay attention to how much revenue are you bringing in, and then in what areas. What percent is surgery? What percent is non -surgery? What percent is wellness? Looking at your profit margins. We have to have a significant, right, gross profit. Looking at the potential devices or modalities you might bring in.
Alison Werner (12:41)
Mm
Terri (12:55)
and the gross profit on those, which in the non -surgical world, right, need to be over 60 % and much higher up at surgery. But it needs to be high. needs to make sense because we're not paying labor. We're not discounting. Let's look at our patient conversion rates. Cost per acquisition to get a client in the door. I think those are a couple of significant things to look at where it doesn't become overwhelming and then we can make a decision. And then what is the cost of that thing and how quickly can I either pay it off?
Alison Werner (13:03)
Yeah.
Yeah.
Mm
Terri (13:24)
or get adoption from your clients.
Alison Werner (13:26)
Mm
you know, the fact is that eventually some of the service has probably become a little stagnant. So how often or what should be what should practice owners be looking at when it's like, maybe I need to look at adding something new or maybe this is getting tired. How would you tell them to approach that?
Terri (13:53)
That's a good question.
I'd like to believe that decisions are made based on facts and not feelings. when a practice chooses to buy anything, does it complement the surgery, number one? And is it something that your patients want? If that's the case, then hopefully the utilization of those pieces of equipment, devices, products, whatever it is, are being used.
Alison Werner (13:59)
Mm
Mm -hmm.
Terri (14:22)
when a practice is operating at a 70 % capacity, that's when from a provider perspective, that's when really, at least on the nonsurgical side, that's really when we can say, okay, maybe it's time to expand and or offer something else. And or if you want to increase revenue streams, and there's something innovative on the market that complements your business, that's when. You know, I think if things are just sitting there stagnant, we really have to just start to question why.
Alison Werner (14:45)
Mm
Terri (14:52)
Do people not want it? Does it not work? Why is it not selling?
Alison Werner (14:55)
Mm
Or is it just the passing fad or trend or whatever it is?
Terri (15:02)
Maybe, they're right. Maybe depending on whatever, whatever it is. I think, I think in our, in our world, there's not a lot of hype, trendy stuff. mean, there can be, but hopefully we're not, we're not buying that just because of, you know, because we, we, you know, we saw it at a conference. Like, does it actually make sense in your business model?
Alison Werner (15:06)
Yeah.
Mm -hmm. Mm -hmm.
Mm hmm. Yeah. How do you talk to doctors about who are trying to figure out how to vet a new offering a new technology to know that it's right for them?
Terri (15:40)
I think obviously first and foremost, right, is there enough scientific data to back the support, the results? Talking to other key opinion leaders in the industry, not just talking to the company, like getting real facts, like how are other practices using it? Do patients love it? How is it being used? Was it worth the investment? Just, I think just do some research and really not just take it from the company.
Alison Werner (16:09)
Okay.
Terri (16:09)
And really making sure there's adequate training and then marketing support from the company around helping the practices to execute something.
Alison Werner (16:19)
Okay. And then in terms of marketing to patients about the services you're offering, is there any advice, especially if they're trying to capture those patients who have already just done their one and done and don't maybe realize that the practice offers more, but they're kind of on the books, they're there. How do you suggest that practices market to those patients, but also to the larger community?
Terri (16:45)
Yeah, I think a couple of things. think, again, back to what we talked about a few minutes ago, really making sure that you have the tools. If you have a cosmetic interest questionnaire, everyone fills that out. Prior to them coming in, everyone must fill that out. It's just a protocol. That's one. You're going to get facts. You're going to see how many people fill out that they're interested in something, whether it's a problem or a product or a treatment. That's one. The second thing is when we think about marketing, it's reach and frequency. It costs, you know, it takes
Alison Werner (16:57)
Okay.
Terri (17:14)
eight to 10 touch points, sometimes up to 30 touch points for a client to make a decision. So how often are you writing newsletters or blogs that are written for SEO, by the way, not just somebody in the practice who's not even a real good writer, write something, but how often are we putting out valuable educational material on our website to increase ranking on our social media platform?
Alison Werner (17:31)
Mm
Terri (17:41)
about something and that is a way, know, everybody is seeking information and we need to be seeking it from the right source. So I think, you know, forget looking at SEO and your website and PPC and ads and all this stuff. It's, let's get out, let's provide valuable information to our patients that will eventually resonate and they'll want to come.
Alison Werner (17:49)
Mm -hmm.
So what's your final takeaway message for practices that I really want to focus in on offering a holistic approach if they haven't already started?
Terri (18:17)
Yeah, I think the final message is...
And people might not want to hear this answer because not everybody has strength in running the business, but we really just do have to go back. Again, it's easy for surgeons to be in the OR and be really busy, and that's amazing. But busy doesn't mean being profitable as a whole. So let's really, I invite you, and I encourage everyone listening to really say, OK, what is my business today? Am I happy with it?
What's working? What's not? Where can we improve? How well is the team trained? Are my benchmarks and my KPIs being met? It's either yes or no. There's no gray. And if they aren't, it's an opportunity. It's not a bad thing. It's an opportunity to improve and to grow and to make the right decisions that can have a positive impact. So that's what I would say. Don't be reactive. Don't make irrational decisions.
Alison Werner (19:01)
Yeah.
Terri (19:22)
financially make sense for the business? the team going to embrace it and sell it? Do your patients want it? Can your business afford to do it? And what are your expectations if you bring it in? And that's it. And I think when we can just embrace this business side of it, everyone will be in a much better place, both financially and from a patient safety and outcome perspective.
Alison Werner (19:51)
Yeah. One more question. If a doctor is feeling or a business owner is feeling overwhelmed by taking on this and moving beyond the surgical and looking at the whole business, where should they go to either get help to figure out how to do this or to just educate themselves? That works. Well, no, I think it's
Terri (20:08)
Call me. Call me. No, I mean, look at now this is bit self -serving, but thank you for asking. No, I think. Yeah, no.
Alison Werner (20:18)
question because you just talked about how, you know, they're making a big transition and they've got to look at a lot of things and it can be overwhelming.
Terri (20:23)
Yeah, no. Yes, and thank you for asking. I'm super proud. I don't know if everyone knows, but Dr. Renato Sulz, Isaac and myself, Isaac Musely, my ex -co -CEO, we sold the company. But we started the 4S Summit. And the 4S Summit is a sales and business mastery summit that we started to fill the gap in the aesthetic market. And it's really a two and a half day.
down and dirty deep dive. It's a conference around business. And I'm sharing that because the ASAPs, so excited, recently sent out a press release that they have adopted the 4S Summit as their sole practice management provider. And why? If the societies are recognizing, a minute, surgeons are seeking help and advice. I'm gonna say, if you're stuck and struggling, please don't try to do it on your own. You're gonna waste time and money, perhaps make costly mistakes.
Alison Werner (21:05)
great. Yeah.
Yeah, absolutely. Yep.
Terri (21:22)
we're here to really do sort of an initial business evaluation and we write a very deep dive formal business report to help practices understand where the opportunities are and how do we coach them to fix it. So that's what I would say. I invite you to call me.
Alison Werner (21:36)
Yeah. Excellent. Well, Terry, thank you again, as always. It's been a pleasure. All right. Thanks.
Terri (21:43)
Thank you, Allison. Take care. Thanks for listening.
Alison Werner (21:47)
Thank you for checking out this episode of the Plastic Surgery Practice Podcast. Be sure to check out PlasticSurgeryPractice.com to keep up with the latest industry news. Until next time, take care.