Practice Management

Complementary Medicine

This husband and wife team combined their specialties and strengths to grow their practice from one employee to a team of 30 in less than four years.

“The first three years were passion and growth; now we’re focused on organization,” says dermatologist Sonia Badreshia-Bansal, MD, of Elite MD, the joint dermatology-plastic surgery practice she launched in 2009 with her husband, plastic surgeon Vivek Bansal, MD. In less than four years, the couple has grown their Danville, California-based practice from one location with one employee to three locations with a team of 30.

Dealing with Disaster

A comprehensive disaster plan can help your practice survive a catastrophic event.

As the past handful of years has taught us, disasters—both man-made and natural—can strike in any place, at any time. If unprepared, a medical practitioner might be forced to close his practice, which could have devastating long-term consequences on the physician, patients and staff members.

Improving Employee Retention

Employee turnover adversely affects patient care and practice profits, but there are steps you can take to hold on to top performers.

How much will you pay for your next new hire? According to Jay Shorr, managing partner of practice management consulting firm The Best Medical Business Solutions, “it costs 25% of an employee’s annual salary to properly train and indoctrinate him into your organization, and it takes approximately three months before you can turn a new hire loose and feel comfortable he is ready to work on his own, fully comprehending your organization’s operations.”

Branding Your Practice

Deck: 
Developing a brand for your practice pays off in more qualified leads and increased patient satisfaction.
Main Image: 
Branding Your Practice

When properly managed, a practice’s brand is one of its most valuable assets. Building and promoting a unique identity—known in the trade as “branding”—is a technique all businesses and individuals can use to effectively market themselves and their services. As a physician, your personal brand sends a clear, consistent message about who you are and what you have to offer. It sets you apart from every other physician in your specialty and can help position you as a niche expert.

How To Negotiate

Deck: 
You don’t have to be slick to get what you want in a negotiation, just well-prepared.
Main Image: 
How To Negotiate

As a practice owner or manager, it’s inevitable that you will need to negotiate. Whether you are leasing a new building, working out a partnership agreement or working with a vendor to obtain a new piece of equipment, developing basic skills in the art of negotiation can help you protect your interests and get the best possible deal for high-ticket items.

Designed To Sell

Deck: 
A few tweaks to the design of your retail area can increase sales without alienating patients.
Main Image: 
Designed to sell

Retail sales have not historically played a large role in medical practices. But they are a natural fit for medical aesthetic practices and medspas. Spa surveys have shown that more than 80% of skincare clients who leave a facility without buying a product for home use will purchase at least one skincare product in a drugstore or a department store within 24 hours. If a practice is not offering retail, it is creating a need for homecare products then sending its patients off to a competitor to buy them.

Expanding the Core

Deck: 
Plastic surgeon Renato Saltz, MD, followed his instincts to become a leader in the field of aesthetic medicine.
Main Image: 
Renato Saltz, MD

It is perhaps fitting that Brazilian-born plastic surgeon Renato Saltz, MD, chose Salt Lake City—the Crossroads of the West—as the site for his Saltz Plastic Surgery Center and Spa Vitoria. His decision to leave academia to launch his own private practice was precipitated when he found himself at a crossroads within his own specialty. “In the late 1990s, it was becoming clear to a few of us that we could not just practice plastic surgery the way we always had,” says Dr. Saltz. “There was much more involved, and I felt that we had to expand the services at the University of Utah.

The Boutique Approach

Deck: 
Heather Roberts, MD, chose a smaller footprint with no physician extenders to offer her patients personalized care.
Main Image: 
Heather Roberts, MD

Entering the field of cosmetic medicine poses some unique challenges for physicians. Success in a fee-for-service arena requires more than just topnotch medical training. Practitioners must also learn to balance the responsibilities of business ownership and self-promotion with responsible patient care.

Recognizing Complications

Deck: 
Protect your practice and patients by training staff to recognize potentially serious adverse events.
Main Image: 
Recognizing complications

Noninvasive cosmetic procedures have surged in popularity thanks to their affordability, effectiveness and strong safety profiles. Still, serious complications—including necrosis, infection and allergic reaction—can occur. In medical aesthetic practices, front desk staff and office managers are often the first to field calls from concerned patients. Training these staff members to differentiate between normal reactions that are part of the healing process and undesirable or dangerous complications is crucial to postprocedure care.

A Base for Beautiful Skin

Deck: 
A life-changing experience led Jeannette Graf, MD, to put her medical and research training to work to find the perfect recipe for health and beauty.
Main Image: 
Jeannette Graf, MD

Dr. Jeannette Graf’s enthusiasm is contagious. She speaks quickly with a wide smile, a ready laugh and she always has glowing skin. But this winning combination is no happy accident. The New York-based dermatologist has dedicated herself to creating the perfect balance for a healthy body and soul, and it all starts with fun. “We cosmetic practitioners love what we do,” she says. “I think if you were to take a poll, you would find we are the happiest people. And I am the happiest of them all, because I have a balance.”