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6 Tips For Mitigating Risks Associated With Running A Med Spa – Medical Device News Magazine

  • Keeping all the legalities in mind, you’ll need to develop and write up policies about organizational hierarchy, informed consent, range and scope of services you will offer, anesthesia, emergency preparedness, when to transfer a patient to another facility, anticipated outcome disclosure and patient complaint management.
  • When you follow the rules, establish best practices, use educated providers, take only the right patients and outsource money management you can create and operate a solid and stable medical spa business with as few risks as possible.
  • The world of advertising has changed, so avoid wasting your money on radio and newspaper ads when you can often bring in better leads for a lot less money through social media advertising.

Running a med spa is a lucrative way to make people look and feel better, but like everything else, it has significant risks. You can limit those risks while maximizing income and patient satisfaction when you’re careful. Here are 6 useful pieces of advice for making sure your med spa isn’t risky business:

Make it legal. State laws regulate ownership structure, licensing and scope of practice for med spas, and you can’t get started without knowing the requirements in your state. You will need to comply with regulations regarding supervision, delegation and more. An experienced lawyer can help you avoid noncompliant ownership structure, a common mistake. You will also need to determine whether formal client-patient relationships must be established, whether a patient history must be taken and how much liability insurance you will need by law.

Put good policies in place. Keeping all the legalities in mind, you’ll need to develop and write up policies about organizational hierarchy, informed consent, range and scope of services you will offer, anesthesia, emergency preparedness, when to transfer a patient to another facility, anticipated outcome disclosure and patient complaint management. Carefully outlining all employee roles and company procedures, even when not required by law, can lead to years of smooth operation and better employee retention. Misunderstandings breed internal distrust and dissatisfaction.

Get smart about education. Patient service providers at your medical spa need to be well-trained to create satisfaction and reduce liability for you and your company. Avoid negligence claims that your malpractice insurance won’t cover by making sure providers participate in education that leads to maximum technical skills competency. For example, a longstanding Botox training program from an experienced trainer can provide greater competence in potentially harmful Botox and fillers than even medical or nursing schools provides. Don’t delegate patient services to poorly trained estheticians.

Take only the right patients. You can ensure patient satisfaction while reducing complaints by taking only the right clients. Don’t agree to provide services to patients who need cosmetic procedures beyond your scope or ability. In many cases, med spa operators find that the best patients are those who need the least services to create and maintain their desired appearance. These patients are more likely to be satisfied, return and bring their friends. Refer others to cosmetic surgeons or other medical specialists.

Keep a close eye on money. Poor money management or oversight can sink a business rapidly, even if it otherwise operates efficiently. Since most medical professionals and spa owners aren’t financial experts, it may make sense to outsource bookkeeping to an experienced professional in that field. This simple step takes a huge worry off your mind while often increasing the success of bad debt collection and sharply decreasing the risk of a tax audit. A bookkeeper can also make recommendations for improving efficiency throughout your business.

Advertise thoughtfully and carefully. The world of advertising has changed, so avoid wasting your money on radio and newspaper ads when you can often bring in better leads for a lot less money through social media advertising. Wherever you turn, carefully evaluate every marketing and advertising message you share to make sure you’re not violating advertising laws or industry rules. Just as importantly, don’t aim ads to the wrong people by making guarantees or setting expectations you can’t meet. That can lead to dissatisfaction and even lawsuits.

When you follow the rules, establish best practices, use educated providers, take only the right patients and outsource money management you can create and operate a solid and stable medical spa business with as few risks as possible. Then, advertising smartly can make it a success for you, your stakeholders, your staff and your clients – and those are the goals, right?