Do med spas make money?

Among the threshold questions medspa owners should ask is whether the services they provide constitute the “practice of medicine.” There is a saying: “Laser equipment vendors take most of the medical aesthetics. It's not uncommon to see 20% of revenue, even for mature Med Spas, funneled into Google Adwords campaigns, social media advertising campaigns (mostly IG), content marketing, and events, as well as emailing %26 text marketing campaigns to your existing customer base. Whether you're looking for a great EHR that automates your staff's activities so they can focus on the patient experience, or you're buying the next new medical device, do your research. Among other things, medspa owners must determine if the services they offer constitute “medical treatment”, who can provide those services and under what conditions.

Boulevard was created to help your MedSpa achieve revenues that go beyond the average income of medical spas. Many medical spa owners go to a financial advisor because they are not sure how their business should work. For the latest technology, such as CoolSculpting, there is virtually no directly relevant guidance in states that contain the largest medspa (i) markets, but they go through their medical training without learning what it takes to run a profitable business. Many medical spa owners don't consider their profit margins when they open their doors.

Running a MedSpa involves a lot more operating expenses than people think (and maybe more than they thought when they went into business). It is also relevant in the age of telemedicine if such supervision should be provided by a physician present on site. You need a financial team specialized in the medical spa industry that can objectively analyze your finances and help you control your cash flow. Speaking of upsells, you want software that allows you to offer contactless payments, as well as personalized reports to see how the different services, treatments and products work in your MedSpa.

Regarding the last point, since medspas most commonly employ beauticians, medspas are often faced with the question of whether beauticians can perform certain services and, if so, whether they can do it independently or under medical supervision.