Abstract: When combining a successful physician with a successful medical spa, many questions can arise regarding the best ways to address issues such as branding and staffing. This column focuses on some of the pros and cons when considering these types of concerns.
Q: What is more critical to a medical spa’s success: having a reputable physician working at the facility or allowing the medical spa to stand on its own as a business entity?
A: In this scenario, the value proposition depends on the ultimate goal of the business. It is interesting that many medical spas do not incorporate the names of the physicians operating them into the facility’s name. The result of this separation is to identify more value in the facility—as opposed to the physician who is present at the practice—potentially making it easier to sell the business in the future or, in the case of chain establishments, to provide flexibility when hiring and firing medical directors.
On the flip side, creating a primary association between the medical spa and the directing physician adds value and credibility to the business. A medical spa with a strong and obvious physician presence is more likely to be viewed as trustworthy and experienced.