Striving for maximum profitability at your clinic without compromising patient care is a balancing act that every clinic owner understands too well.
A surefire approach to bolster your revenue? Offer only the most in-demand, high-paying aesthetic procedures. That way, you meet rising, consistent demand while boosting your bottom line in an economically rewarding niche.
This piece dives into the most lucrative aesthetic procedures that can enrich your service offerings and augment your revenue. We’ll also explain how you can lower your overhead costs and keep more of your profits, no matter what procedures your clinic offers.
The difference between cosmetic surgeons and plastic surgeons
Before delving into specific procedures, it's important to understand the distinction between cosmetic surgeons and plastic surgeons. While the terms are often used interchangeably, there is a subtle difference. According to the American Board of Cosmetic Surgery:
- Cosmetic surgeons focus primarily on enhancing a patient's appearance through surgical and non-surgical procedures. This might include plastic surgery procedures, and it might not. It depends on the patient and practice.
- Plastic surgeons are trained to primarily reconstruct and repair defects (reparative surgery), such as those caused by birth defects, trauma, or disease.
Both specialties have their own unique set of skills and expertise, but for the purpose of this article, we will mainly focus on cosmetic procedures, as they tend to not accept insurance.
In other words, customers pay out of pocket and cosmetic clinic owners get as much profit as they can. Naturally, cosmetic surgery customers are wealthier and more able to afford high-ticket prices for cosmetic procedures.
Due to the high dollar cost of their procedures, cosmetic surgery customers will also expect to pay with a credit card (more on this later).
Exploring the world of face plastic surgery procedures
Face plastic surgery and cosmetic surgery is among the most sought-after aesthetic procedures. It encompasses a wide range of treatments, from minimally invasive procedures like Botox and dermal fillers to more complex surgeries like facelifts and rhinoplasty.
According to Stanford Medicine, the major categories of facial cosmetic procedures include:
- Brow/forehead lift
- Eyelid lift
- Ear pinning
- Ear reshaping
- Hair replacement surgery
- Nasal surgery
- Nose reshaping (rhinoplasty)
- Chin, cheek, or jaw reshaping / facial implants
- Lip augmentation
- Cleft lip and cleft palate
- Craniosynostosis (craniofacial anomaly)
- Oral and maxillofacial surgery
Facial procedures aim to rejuvenate and enhance the appearance of the face, helping patients achieve a more youthful and refreshed look. With advancements in technology and techniques, face plastic surgery and cosmetic surgery has become safer and more accessible than ever before.
As a clinic owner, offering these procedures can be highly lucrative, but it's crucial to carefully consider the potential risks and benefits before incorporating them into your practice.
The most profitable facial procedures for clinic owners
Now, let's dive into the most profitable facial procedures for clinic owners. These procedures have consistently shown high demand and excellent profit margins:
- Botox and Dermal Fillers: According to GoodRx, the average Botox or dermal filler procedure in the U.S. cost $466 per treatment in 2020. Botox injections and dermal fillers are incredibly popular non-surgical treatments that effectively reduce wrinkles and fine lines while restoring volume. These procedures have minimal downtime and offer immediate results, making them highly desirable for patients looking for quick fixes. Notably, while botox and dermal fillers may not be the most profitable on a per-procedure basis, the sheer demand for them makes this a relatively easy volume play for most qualified clinic owners.
- Facelifts: According to the American Society of Plastic Surgeons, the average cost of a facelift in the U.S. is $8,005. Facelifts remain one of the most transformative facial procedures. By tightening sagging skin and muscles, a facelift can significantly reverse the signs of aging and provide long-lasting results. While this procedure requires a higher level of expertise, the potential profits are significant. Plus, facelifts are a recurring procedure that many customers get more than once in their lifetimes.
- Rhinoplasty: According to the American Society of Plastic Surgeons, the average cost of a rhinoplasty (or nose job) in the U.S. is $5,483*, but it’s actually closer to $10,000. Nose reshaping surgery, or rhinoplasty, is another profitable facial procedure. Many individuals, particularly women, seek rhinoplasty to enhance their facial harmony or correct breathing difficulties. Unlike botox/dermal fillers and facelifts, rhinoplasties are a far more complex procedure that requires precision, expertise, and even a bit of artistry. This is probably why celebrity rhinoplasty surgeons can charge upwards of $50,000+.
*The ASPS notes that this figure does not include additional costs like anesthesia, operating rooms, and related expenses. The ‘all-in’ average cost of a nose job in the U.S. can be as high as $10,000 or more.
Key considerations before offering facial surgery in your clinic
Before integrating facial surgeries into your clinic's services, there are several key considerations to keep in mind.
- Ensure you have skilled and experienced surgeons. The success and safety of these procedures heavily rely on the expertise of the surgeon performing them.
- Conduct thorough market research to gauge the demand in your area and identify potential competitors. Understanding local market dynamics will help you tailor your marketing strategies effectively.
- Ensure that your clinic has the necessary resources, like equipment and facilities, to offer these procedures safely and efficiently.
The growing demand for body plastic surgery
While smaller facial procedures like the ones mentioned above dominate the cosmetic surgery industry, there is a growing demand for body plastic surgery as well.
More and more people are seeking body contouring, breast augmentations (or reductions not covered by insurance), and liposuction, among many other procedures, to achieve their desired appearance.
By expanding your clinic's services to include body plastic surgery, you can tap into a new market segment and further increase your profits.
Broadly speaking, the three biggest categories of body plastic and cosmetic surgery are breasts, abdomen, and skin:
- Breast augmentation
- Breast reconstruction
- Breast reduction in men with gynecomastia
- Breast lift
- Tummy tuck (abdominoplasty)
- Hand and upper limb
- Chemical peel
- Dermabrasion / dermaplaning
- Collagen/fat injectable fillers
- Botox/filler injections (restylane, radiesse)
- Glycolic peels
- Laser peels
- Vein removal
- Scar revision
- Tattoo removal
Getting into the pricing for each of these cosmetic body procedures is beyond the scope of this article, but as you can see, there are a lot of options. The more niche, higher-paying body procedures, like height lengthening surgery, can cost as much as $80,000.
Of course, a lucrative body surgery will almost always be far more complex and carry more risk than a facelift, for example.
That’s why it's essential that you thoroughly evaluate the risks, benefits, and legal requirements associated with body-based procedures. Consult with experienced plastic surgeons and ensure that your clinic meets all necessary standards and regulations.
Marketing strategies for promoting aesthetic procedures
To attract a steady stream of patients for your aesthetic procedures, you need to implement effective marketing strategies. Here are a few strategies to consider:
- Establish an online presence: Create a professional website and maintain active social media accounts to showcase your expertise and before-and-after photos of successful procedures. Engage with your audience by providing valuable content and responding to inquiries promptly.
- Collaborate with influencers: Partnering with social media influencers or local celebrities can help generate buzz around your clinic and attract new patients. Make sure to choose influencers who align with your clinic's values and target audience. Instagram is a very popular social media platform for cosmetic surgeons.
- Offer special promotions: Introduce limited-time promotions or package deals to incentivize potential clients. Discounts on popular procedures or bundled services can entice new patients to choose your clinic over competitors.
Maximizing your plastic or cosmetic surgery clinic profits
Once you’ve attracted patients to your clinic for specific procedures, you can further maximize your profits through upselling and cross-selling while also lowering your expenses.
- Upselling involves offering additional services or upgrades to enhance the patient's experience or results. For example, if a patient comes in for Botox injections, you can recommend adding dermal fillers for more comprehensive facial rejuvenation.
- Cross-selling, on the other hand, involves promoting related products or services to complement the procedure. For instance, if a patient undergoes liposuction, you can offer specialized compression garments or post-operative massage therapy.
- Lowering expenses is often more straightforward than many clinic owners might realize. In a high-priced industry like healthcare (much less plastic or cosmetic surgery), just changing medical manufacturers and vendors (assuming similar quality of products) can often lead to huge cost savings.
Another easy way to lower expenses for any clinic? Get rid of those pesky 2–3% credit card transaction fees that all of your customers are paying per procedure.
By implementing these strategies, you not only increase your revenue per patient but also enhance their overall satisfaction.
The importance of patient satisfaction and referrals
In the aesthetic industry, patient satisfaction is paramount. Happy and satisfied patients are more likely to refer their friends, family, and colleagues to your clinic, serving as powerful ambassadors for your business.
To ensure patient satisfaction, prioritize clear communication, empathy, and personalized care. Take the time to understand your patients' goals, address their concerns, and provide realistic expectations.
Additionally, encourage your satisfied patients to leave reviews and testimonials, as positive online feedback can significantly influence potential patients' decision-making process.
Identifying the right aesthetic procedures for your clinic
Expanding your clinic's offerings to include aesthetic procedures can be a profitable venture. By carefully selecting the right procedures, ensuring skilled surgeons, implementing effective marketing strategies, and prioritizing patient satisfaction, you can position your clinic as a trusted destination for cosmetic enhancements.
Remember, the most profitable aesthetic procedures for clinic owners are constantly evolving, so stay updated with the latest trends and advancements in the field. With the right approach, you can provide exceptional services while growing your bottom line.
Whatever procedures you decide to offer, Nadapayments can help you put more of your clinic's hard-earned money back into your pocket by getting rid of your credit card transaction fees.