Pricing: To Change or Not To Change


Pricing your services/procedures is one of the most important decision you make as a business owner.  Changing your prices is not something you do because you “think” you can get more money for a service/procedure. 

If you believe that you need to increase your prices then you need to take the time and do your homework.  This starts with competitive analysis.  Create a matrix of as many competitor’s prices as you can gather for the same services/procedures that you offer.  Then look at the high, low and mean prices within your market.

In addition, if you don’t already have a pricing philosophy you need to identify one.  Such as: “We will be the price leader in the market”, “We will be the low cost leader in the market” or “We want to be in the upper tier of pricing in the market”.  These are just three examples of a pricing philosophy.

Analyze your pricing once per year and always do it the same time of year.  It is much better to implement small price increases annually than to be reactive with a large price increase after not increasing your prices for 5 years.  Prices don’t have to go up every year.  In recent years, with the recession, there is a good chance that the best decision has been to hold prices.

If you want to discuss this topic further, feel free to give me a call: 203-488-0028 x303.

FXA

Top 10 Questions to Ask When Buying a Cosmetic Laser


It has been 20 years that I have been in involved in identifying and purchasing cosmetic lasers for spas, medical spas and cosmetic medical practices.  Through the years I have either purchased for my companies or for Acara clients over 50 cosmetic laser devices.  There is nothing like practice to become good at something.  Earlier this week I held a Webinar to share my knowledge and expertise in the buying of cosmetic lasers.  The Webinar, “Top 10 Questions to Ask When Buying a Cosmetic Laser was so well received that I thought I would post the content here on our blog.

To help simplify the process, I focused on the 10 questions you should ask yourself and your vendors.  But before you even get that far your first step is to determine what services you want to offer or should offer based upon your market, competition and positioning.  Once you have that identified you can begin to ask these 10 questions.

1. What Laser companies do I want to receive quotes from?

  • Do they offer a device that meets my needs?
  • Manufacturer or Distributor?
  • How long in business?
  • Country of Origin?
  • Do they have their own service team?
  • Who are thier luminaries?

2. Who can I speak to that has used the same laser for at least 3 years?

  • Receive a long list of references
  • Check their website for additional references
  • Ask the references:

- Service issues?

- Results?

- Ease of use?

- Responsiveness of Service Team?

- Responsiveness of Sales Team?

- Quality of Training?

3. Can I have a demonstration and test drive the laser prior to purchasing?

  • Receive a demonstration
  • Ask to test drive the laser (not always available or advisable)

4. How adaptable is the system for future upgrades?

  • Can additional lasers be placed into the system?
  • If you come out with a newer version how do I upgrade?

5. What marketing support do I receive from your company?

  • What consumer advertising has been done?
  • What marketing support materials are available?
  • Is there an online portal to access this information?
  • Will you support an event to launch the laser services?

6. Are there any consumables?

  • List all consumables and their cost
  • What is the cost per treatment

7. What training is included with the purchase of the laser?

  • Who does the training?
  • Where does the training take place?
  • How many on my team will be trained?
  • Can I buy additional training?

8. What type of warranty/service agreement is included with the purchase of the laser?

  • How long is the warranty for?
  • What does the warranty cover?
  • Can I purchase additional years of warranty up front at a discount?
  • What is the turnaround time for a service call?
  • What is the number of service calls per laser per year?
  • What is the process to place a service call?
  • What internal diagnostics are in the laser to help with the service process

9. Clinical Questions

  • What wavelengths or filters are available?
  • What are the deliverable spot sizes/footprints?
  • What is the range of energies at each deliverable spot size?
  • What is the deliverable pulse time in milliseconds at each of those settings?
  • What is the wattage ability of the cooling system for the patient?
  • What is the cooling range in degrees C?
  • Is this a 110v or 220v system and why that choice?

10. How much does the laser cost?

  • Make sure you compare quotes “Apples to Apples” (same number of warranty years, etc.)
  • Negotiate
  • Special offers?
  • End of quarter deals?

Make sure you document the answers to all of your questions comparing each company and or device.  Remember you are about to make a very significant investment, you need to give it the appropriate amount of time needed to make a sound business decision.

I’d like to thank Patrick Clark at Medical Laser Dynamics, one of the country’s top laser training companies www.mldynamics.com and Steve Witt at Sciton, one of the worlds highest quality laser manufacturers www.sciton.com.

FXA

Revitalize the Medical Spa Society (via SpaBusinessMD by Acara : MedSpa & Cosmetic Medical Practice Business Development, Management and Marketing Blog)


Go to the Medical Spa Society website and join today. http://www.medicalspasociety.com

FXA

Revitalize the Medical Spa Society I am seeking to recharge and revitalize the Medical Spa Society to make it one of the preeminent not-for-profit trade associations with the mission to provide education & research for clinical and business professionals working in the aesthetic medical industry.  The Board is excited to take this organization to the next level and we are seeking your help. Please let me know via e-mail or posting here on the blog your interest in getting invo … Read More

via SpaBusinessMD by Acara : MedSpa & Cosmetic Medical Practice Business Development, Management and Marketing Blog

Manage by the Numbers: Top 10 Data Points You Need to Know


As owners, physicians and/or managers of cosmetic practices and medical spas you have a very demanding job.  First you need to insure the safety and care of all patients, second you must lead the team with a service culture while maintaining a sales focus, and third you have to be a great marketeer consistently implementing a marketing program that drives leads into your business.

In addition to these three responsibilities it is imperative that you manage your business by the numbers.  At any given time, you need to know the answers to the following 10 questions (without having to request a report from your accountant):

  1. What are your month-to-date sales?
  2. What were your sales for the same month last year?
  3. What were your sales last month?
  4. How much are you currently spending on your marketing program?
  5. What is your current break-even?
  6. What is your sales goal for this month?
  7. What is your current pace for this month?
  8. Are you currently on pace to hit this month’s goal?
  9. Are your expenses in-line with your budget?
  10. What are your current closing ratios?

I realize it is not easy, but if you are going to create sustainable growth for your business you need to focus on these top 10 data points to measure your success and insure that your business is holding the course you have planned.

FXA

DOUBLE YOUR SALES WITH ACARA’S BUSINESS BOOSTING PROGRAM!


Sandi Unkrur, Acara’s Director of Business Development is so excited about our new 50/50 payment option on our Business Boosting Program that she has asked me to post the information once again here on our blog…FXA

What do so many successful cosmetic practices have in common?

1. They invest in Top Laser Technology

2. They partner with Acara to increase their sales & profitability

Join this premier list of successful cosmetic practices and medicals spas that have implemented the Acara Business Boosting Program.

  • Cosmetic Surgeon & Dermatology Practice in the Northeast: Doubled sales in 7 months.
  • Dermatologist & Medical Spa in the Midwest: Doubled Sales in 3 months.
  • Medical Spa in the Northwest: Tripled sales in 3 months.
  • Cosmetic Practice in the Southeast: Tripled sales in 18 months.
  • Midwest Medical Spa: Tripled sales in 4 months.
  • Midwest Medical Spa: Doubled Sales in 3 months.
  • Cosmetic Surgeon & Dermatology Practice in the South: Doubled monthly sales during a one night event.
  • Mid-Atlantic Medical Spa: Tripled in 6 months.

Now for a limited time Acara is offering the Business Boosting Program with a very special payment option.  We are so convinced that we can increase your sales by at least 50% we are willing to bet half our fee!

When a practice or medical spa signs up for Acara’s Business Boosting Program, you only pay 50% of the fee.  If the Acara team increases your business by 50% within 4 months, then you pay the balance of 50% as a success fee.

I look forward to hearing from you, hopefully your business will be on this list in the near future!

Sandi Unkrur
Director of Business Development

Email Sandi

or call: 916-425-5493

Follow

Get every new post delivered to your Inbox.

Join 531 other followers

%d bloggers like this: