Physicians Find Aesthetic Medicine a Cure to the Cash Crunch

LAS VEGAS -- Family doctors are adding aesthetic medical procedures to their practices in an effort to make their practices more financially viable, says the International Association for Physicians in Aesthetic Medicine (IAPAM). After reviewing participant feedback from the organization’s fifth consecutive Aesthetic Medicine Symposium, IAPAM executive director Jeff Russell, says that participating doctors want most to learn the business of aesthetic medicine, not just how to do the procedures themselves.

"The combination of reducing reimbursements, increasing costs, and longer working hours is leaving many family physicians no choice but to leave their traditional practice behind and open an aesthetic medicine practice or add aesthetic medicine procedures to their existing practices," says Russell.

Russell adds that this problem is not only occurring for those who run private practices, but also for those working in hospitals. IAPAM emergency room physicians have reported that extreme stress has caused them to move to aesthetic practices. What's more, soaring insurance costs are forcing many IAPAM obstetrician/ gynecologists to move to aesthetics as well.

"It's obvious to us that physicians are making the choice to add aesthetic procedures or leave their current practice,” says Russell. “Aesthetic medicine creates more cash flow and decreases the administration required to manage insurance and government reimbursements. Entrepreneurs are constantly looking for opportunities to increase revenues and decrease costs. Doctors are no different."

Physicians can capitalize on the results of a recent study, the 2007 Aesthetic Medicine Consumer Study, by the IAPAM indicating that people feel non-physician owned medical spas are unsafe. The study surveyed women across the U.S., ages 21-60 on their perception of various aesthetic medicine procedures. As an apparent reaction to the unregulated medical spa industry, 78 percent of women rated medical credentials as very important when choosing an aesthetic treatment provider.

“The results clearly indicate most women are concerned about their safety when choosing aesthetic procedures, which is a huge opportunity for physicians who wish to expand their practice with aesthetic treatments,” says Russell.

Another interesting finding was that most women surveyed prefer to have cosmetic medical treatments in a medical environment versus a spa-like environment. “It was surprising to find that women don’t want cosmetic treatments done in spas; this again shows physicians the demand exists for them to incorporate aesthetic procedures into their practices,” says Russell.

The goal of the study was to provide guidance for the physician members of the IAPAM who are interested in integrating aesthetic medicine procedures, into their practice. “Most physicians are tired of declining reimbursements and increasing work hours, and have considered adding aesthetic medicine procedures including Botox® and dermal filler injections, laser hair removal, leg vein treatments, physician-directed skin care products and medical-grade chemical peels to their practice. This study is the first to confirm consumer demand exists and that the public wants most of these procedures done by a physician,” says Russell.

Source: IAPAM