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All Posts Tagged: medresults

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10 Step Financial Checklist: How to Better Prepare Your Finances for 2019

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10-Step Financial Checklist: How to Better Prepare Your Finances for 2019

December 5, 2018

With the end of the year approaching it can be a bit daunting to get your affairs in order for the new year. That’s why we’ve created a 10-step financial checklist on how to better prepare your finances for 2019.

  1. Get Organized
    1. Even during the busy holiday season you need to take the time to get organized. Take time to declutter your practice. Get rid of old papers and files by shredding, do a deep clean and steam clean your carpets, order holiday cards and write thank you notes for you employees and loyal clients. Don’t wait until the new year to start organizing!
  2. Run an Inventory Check
    1. Depending on your accounting methods, you may be eligible to claim additional deductions on your inventory. You don’t want to miss out on these potential savings before the year ends.
  3. Annual Review
    1. Now is the best time to get a full review of your business. How did your employees perform? What were the best sales tactics and what treatments/packages sold the most? Be sure to sit down with each of your employees as well to get a better insight into what they think worked successfully or didn’t throughout the year. Also, take into account any holiday scheduling and request their schedules for next year to begin mapping out your hours.
  4. Review Policies
    1. After speaking to your team be sure to take their feedback into consideration and integrate with your current policies if deemed necessary. It’s important to review your policies each year to ensure your customer service (and revenue stream) remains 5-star year round.
  5. Donate to Charity
    1. A charitable contribution is not only good for the soul, but also your small business finances. You can donate either money or goods to claim additional deductions during tax season.
  6. Be Tech Savvy / Website Updates / SEO / New Software
    1. Now would be a good time to review your website to ensure it’s up to date and no edits need to be made. How up to date is the software you are currently using? Do you need to consolidate any software or systems? There may be a more cost effective system out there that can save you money (and headaches) by combining your current systems into one. Explore all of the options!
  7. Employee Check Up
    1. Never a fun task, but take a moment to review your employees. Who performed the best? Who didn’t? Who deserves a promotion, pay raise, a demotion or possibly even being let go? What about holiday bonuses? Be sure to read up on another article on how to thank your staff.
  8. Make Purchases
    1. Another tax deduction hack! See what supplies your business needs before the year ends. It can be office supplies, new equipment or upgrades, even vendor payments.
  9. Reconcile Your Books
    1. No matter when your financial year ends it’s a good idea to begin reconciling your books before January. For example, f any expenses need to be discussed with a fellow team member you want to ensure they are around and not on holiday vacation.
  10. Plan. Plan. Plan.
    1. Have you reviewed your current marketing strategy? What worked? What didn’t? Did any promotions this year work better than you anticipated? Take everything into consideration as you strategize and begin mapping out your sales and marketing plan for the new year.

Contributed by The Medical Business Academy, an exclusive MedResults Partner.

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MedResults Partners with Sientra® for BIOCORNEUM®

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MedResults Network Announces Marketing Partnership with Sientra® for its Silicone Scar Treatment BIOCORNEUM®

April 17, 2018

This week, MedResults Network is very pleased to announce a marketing partnership with Sientra, Inc., a medical aesthetics company. MedResults Network’s 3,100 members now have access to exclusive benefits with the physician’s choice for advanced scar treatment. BIOCORNEUM® is the only topical scar treatment with FDA-Cleared Silishield™ patented crosslinking medical grade silicone and SPF 30 to prevent and minimize the formation of hypertrophic scars, decrease the appearance of old scars, protect scars from sun exposure’s darkening effects, and dry quickly to adhere to the skin for 12 to 24 hours. BIOCORNEUM can be used on scars resulting from surgical and cosmetic procedures, trauma, wounds and burns, and can be effective on old or new scars. Through its national partnership with Sientra, MedResults Members will now have access to exclusive pricing and benefits on BIOCORNEUM.

B.J. Scheessele, Vice President of Marketing at Sientra, said, “Scar management is an important consideration for surgeons and their patients following many types of procedures. BIOCORNEUM provides patients with a quick-drying, simple to use treatment with efficacy that is backed by strong data across 16 clinical studies. We’re delighted to provide MedResults Members access to this unique technology and look forward to expanding our presence in the aesthetic medical space through our national partnership with MedResults Network.”

Jeff Routledge, President and Chief Executive Officer of MedResults Network commented, “We are very excited and grateful to partner with Sientra, a premier medical aesthetics company. Through our due diligence, which includes speaking extensively with our Members, we are predicting that utilization of BIOCORNEUM will extend well beyond our 600+ plastic surgery practice Members. Interest and excitement is also high within our 400+ dermatology practice and 1,400 med spa Members as well.”

About MedResults Network

MedResults Network is an organization based on saving aesthetic providers time and money. Using the buying power of over 3,000 Members, MedResults has negotiated with over 50+ national vendors to bring aesthetic providers discounts and rebates on the products and services they use daily. MedResults Network is the only national buying group that offers membership to benefits at no cost to Members, with no risk, and with the opportunity for Members to continue purchasing directly from their preferred manufacturers and distributors.

 About Sientra

Headquartered in Santa Barbara, California, Sientra is a medical aesthetics company committed to making a difference in patients’ lives by enhancing their body image, growing their self-esteem and restoring their confidence. The Company was founded to provide greater choice to board-certified plastic surgeons and patients in need of medical aesthetics products. The Company has developed a broad portfolio of products with technologically differentiated characteristics, supported by independent laboratory testing and strong clinical trial outcomes. The Company sells its breast implants and breast tissue expanders exclusively to board-certified and board-admissible plastic surgeons and tailors its customer service offerings to their specific needs. The Company also offers a range of other aesthetic and specialty products including BIOCORNEUM, the professional choice in scar management, and miraDry, the only FDA-cleared device to reduce underarm sweat, odor and permanently reduce hair of all colors.

To access MRN-exclusive pricing on BIOCORNEUM and free samples, visit www.medresultsnetwork.com/experiencebiocorneum

 

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12 Ways to Set Your New Hire Up for Success

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What steps should you take before, during, and after your new hire’s first day at work?

Here are our best tips for getting off to a running start.

We originally created this list for the benefit of our members and as a component of our Hiring Guide— and as our own company grows, we’re constantly being reminded of how important it is to go through all twelve of these steps with each and every new hire.

You may be stunned at the difference this will make in how well your new employees acclimate, and at the impact it will have on your team as a whole.

  1. Create or designate a workstation or workspace ahead of time(whenever applicable), and clean it up in advance. Even when your new hire will be working in shared spaces, know where their orientation and training will occur, and make sure you are set up.
  2. Consider how much training will be needed, on what topics, and who will administer or oversee it, before your employee starts. (Will they need training to use your software system? How about HIPAA training before they are exposed to patients and patient data? Safety and emergency procedures? Patient procedures or your office’s routines? Any specialized diagnostic or treatment instruments that they may not have used before?)
  3. Know what needs to happen first.You want to get your new employee doing useful work as soon as possible, so they can feel productive. However, it is essential not to skip HR and training steps that may be required first.
  4. Designate a mentor in advance. Choose one of your most positive, capable, approachable employees. Make sure that mentor has the extra time and energy needed to help the new employee find their footing.
  5. Schedule your new hire to start on a day and at a time convenient for your office manager (and/or anyone else who needs to explain your HR policies or help with initial training). Avoid scheduling a new employee to start when those who will be most closely training and working with them will be on vacation or too busy.
  6. Introduce your new employee to the team! It’s tough to find the right time to introduce yourself when everyone is in the middle of work.
  7. Clarify the new employee’s place within the team, and how their job and work fits in with everyone else’s. Your new hire should know who they report to, and where they go for problems, issues or complaints.
  8. See that your new employee isn’t abandoned at lunch time.Whether your staff eats in small groups in the break room or wanders off for lunch, it’s best if new team members don’t eat a lonely sandwich at the reception desk on their first day.
  9. Set expectations, and be clear about assignments and goals.Consider a welcome letter (without making any promises of long-term employment).
  10. Provide time and quiet space for your new hire to read through and sign acknowledgement of your office policies, as well as completing all necessary forms and agreements.
  11. If there are specific acronyms or buzzwords in use by your staff, or FAQs that new team members always need the answer to, provide a glossary and/or the key information they’ll need.
  12. Finally, cover your bases! Use a New Hire Checklist like the one we’ve provided HERE to verify that you have distributed all required forms and notifications, obtained all signed forms you need back from the employee, completed required training, etc.

Remember, nobody ever gets a do-over at making a first impression. Your employee’s first few days are your chance to solidify their relationship with your organization and set expectations of what is to come.

Ultimately, you’re hoping to inspire loyalty and a desire to succeed and thrive at your practice—so it’s important to make as positive an impression on them as you want them to make on you.

By the way, if you’re not already using CEDR’s Hiring Guide as a reference each time you go through the hiring process, and you’re a medical employer of any specialty, you can grab a FREE copy of it HERE. It’s packed with tips and tricks that will make each stage of your hiring journey easier and more effective.

Friendly Disclaimer: This information is general in nature, and is not intended to replace good counsel about a specific issue with either your attorney or your favorite HR expert.

By: Paul Edwards, CEO of CEDR HR Solutions

Writer Bio

Paul Edwards is the CEO and Co-Founder of CEDR HR Solutions (www.cedrsolutions.com), a partner of MedResults Network, which provides individually customized employee handbooks and HR solutions to medical offices of all sizes across the United States. He has over 20 years’ experience as a manager and owner and specializes in helping medical offices solve employee issues. Paul is a featured writer for many medical magazines and speaks at employment education seminars, conferences, and CE courses across the country. He can be reached at pauledwards@cedrsolutions.com.

*MedResults members receive exclusive benefits from CEDR HR Solutions. Learn more here!

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Love Your Membership in MRN

5 Reasons to Love Your Membership in MedResults!

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This Valentine’s Day week, we want to celebrate our love for YOU! As members, you are the lifeblood of our organization, and we know that many of you return that same love of your membership! For those that are still looking for reasons to love the network, we’ve listed a few of our top ones:

Love Your Supplies AND What You Pay For Them!
Every day your practice uses supplies. Between gloves, gauze, sutures, needles, paper, pens, and custom packs, we have the best AUTOMATIC savings programs where you can opt-in to save big. For med/surg supplies, visit our partner GPO and enroll for the BEST contract pricing on all your med/surg supplies NO MATTER which distributor you use. You sign up at www.purchaseclinic.com/mrn, they do the work to ensure you’re maximizing your savings. No work required!

Sick of heading to the store for paper, pens, and printer ink? Opt into our Staples Business Advantage PLUS program at www.medresultsnetwork.com/activateyouradvantage and your account will be automatically set up so you can start saving. Free overnight shipping on orders over $50 and major discounts on supplies, printing, copying, car rental and more, make this opportunity a no-brainer!

Love Your Rebates!
If you’re a small user of niche injectables like Radiesse and Belotero and aren’t benefiting from their internal loyalty program, you’ll be automatically eligible for a 7% quarterly rebate on your Radiesse and Belotero purchases. Considering a new HA dermal filler? Try Revanesse Versa, the newest FDA-approved and safest filler to hit the U.S. market…members get the best nationwide pricing (and rebates) for any purchases up to 20 syringes!  Grow more to save more through PCA Skin—earn 5% or 10% quarterly cash back when you grow your business with PCA Skin.

Love Your Time, Love Your Money, Love Your Savings!
The more time you spend sourcing products and negotiating for the best pricing, the more you take yourself away from adding value to your business! Use your time wisely and let MedResults do the negotiation for you. Through MRN you’re guaranteed to receive some savings through every partner we work with. Check out our Vendor Benefit List to see how much time and money we can save you.

Love Our Team!
We take a “you ask, we find” approach in how we deal with every member in the network. Over the years, we’ve sourced scarce products, unique devices, and new personnel. We’ve also helped members in more unique ways such as interviewing potential office managers, reviewing resumes, and placing medical directors with medspas. You only need MedResults for all of your needs.

Love The Membership Cost!
Here at MRN you can count on the ultimate savings – and no membership fee! Our network is free to join and the benefits are infinite! All members have the same access to vendors and cost-savings without any added fees or premium charges.

Want to learn more about other cost-savings opportunities for your practice? Contact us for your complimentary practice consultation where we’ll learn a little about your practice to custom ways you can maximize your membership AND SAVINGS in MedResults Network!

Jamie Parrott, VP & COO and Caralina Wigfield, Director of Marketing & Membership

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Beauty is No Longer Only Skin Deep

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Virtual Health Partners Joins Forces with MedResults Network to Promote Aesthetic Wellness

Access the original press release here.

NEW YORK, Nov. 15, 2017 /PRNewswire/ — Looking good and feeling good are closely aligned, which is why Virtual Health Partners, Inc. (VHP), a virtual wellness and weight loss company, today announced a partnership with MedResults Network (MRN), the premier buying network for medical spas and aesthetics physicians. MRN will be introducing VHP across their network of 3,000 members, highlighting the correlation between overall wellness and the results of cosmetic treatments. The partnership reflects VHP’s dedication to providing live, virtual wellness support and nutritional care to clients of plastic surgeons, medi-spas, and aesthetic medical physicians anywhere, at any time.

“For many of us, late nights at the office, stress, and errands can get in the way of balancing a healthy lifestyle,” said Jillian Cohen, Chief Executive Officer and Co-founder of VHP.  “However, doctors say that prior to and after any aesthetic treatment, whether it is a facelift, liposuction or even injectables, it’s important to focus on fitness and nutrition for optimal results. The VHP platform can be used before and after procedures to help providers’ clients reach and maintain their desired aesthetic outcomes.”

MRN members will have the ability to offer their patients virtual access to a team of wellness specialists through their phone, computer or tablet. Patients will be able to schedule live 1:1 nutrition appointments and access live, virtual nutrition, fitness& lifestyle modification classes, and a library of on-demand resources.

“We have finally found a program that allows a practice or med-spa to focus on what they do best – providing aesthetic treatments and procedures, while offering their patients direct access to a renowned wellness and weight management program,” stated Jamie Parrott, Chief Operating Officer of MedResults Network. “Through VHP’s virtual technology, patients have the ability to communicate directly to a certified nutritionist and wellness expert. VHP gives convenient and easy access to experts on the patient’s or client’s schedule, not a 9 to 5 clinic schedule.””I often recommend that clients commit to healthy living in order to feel and look their best,” said Monique Ramsey, Medical Spa Director at La Jolla Cosmetic Surgery Centre and an MRN member. “Having access to the VHP platform allows me to interact with clients pre- and post-treatment, to ensure that they are keeping up with a routine that will keep them looking their best.”

 

“I often recommend that clients commit to healthy living in order to feel and look their best,” said Monique Ramsey, Medical Spa Director at La Jolla Cosmetic Surgery Centre and an MRN member. “Having access to the VHP platform allows me to interact with clients pre- and post-treatment, to ensure that they are keeping up with a routine that will keep them looking their best.”

About Virtual Health Partners®

Virtual Health Partners, Inc. an innovator in wellness and weight loss, offers a comprehensive program recommended by physicians, fitness, wellness and health experts around the world. The HIPAA compliant program includes live one-on-one nutrition appointments, fitness classes, and lifestyle modification coaching by a team of wellness specialists. Clients can only receive an invitation through a participating VHP partner – medical providers, fitness centers, medi-spas, pharmaceutical, medical device or nutritional supplement companies. All coaching is done through a mobile app, tablet, or computer, with live support available 7 days a week.

For more information, visit www.virtualhealthpartners.com.

About MedResults Network

MedResults Network is a free membership buying group that offers instant discounts and quarterly rebates at no risk or obligation. They have partnered with over 50 leading national vendors to negotiate cost savings for its members in product categories including dermal fillers, lasers, skin care, and more. Since 2008 their leadership team has worked closely with both their members and partners to ensure their continued growth and success.

For more information, visit www.medresultsnetwork.com.

Media Contact:
Fiona Farley
EvolveMKD
VHP@Evolvemkd.com
646-517-4220
© 2017 Virtual Health Partners, Inc. All rights reserved.
SOURCE Virtual Health Partners, Inc.
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MRN Forms Exclusive Partnership With Strata Skin Sciences

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STRATA Skin Sciences Announces Agreement with MedResults Network, a GPO Exclusive to the Aesthetic Medical Market

Agreement will enhance sales efforts of Nordlys and Stratapen

Horsham, PA, October 16, 2017 — (NASDAQ: SSKN) STRATA Skin Sciences, Inc. (“STRATA”) a medical technology company in Dermatology and Plastic Surgery dedicated to developing, commercializing and marketing innovative products for the treatment of dermatologic conditions, today announced signing an Agreement with MedResults Network (MRN). MRN is a Group Purchasing Organization that has more than 3,000 members including Dermatology Offices, Plastic Surgery Practices, Facial Plastic Practices, MediSpas and other providers. MRN researches product categories and selects advantaged products and then negotiates pricing for its membership. MRN focuses on the aesthetic market and has agreements with more than 50 vendors with only one vendor per product category.

Frank McCaney, President and Chief Executive Officer of Strata, commented:

“We are pleased to announce this relationship which we believe has major benefits to STRATA. MRN has a loyal and long term subscriber base and a reputation for providing value to its members. MRN provides additional value to its members by offering educational seminars and value to its vendors by active promotion of the products on agreement with them. Furthermore, the products that Strata introduced earlier this year in the Aesthetic space are outstanding products but lacked broad awareness. We believe that the reach and credibility of MRN will greatly benefit our sales efforts.”

Jeff Routledge, President of MRN added:

“We are excited about the opportunity to assist STRATA in marketing their products to our membership. STRATA’s Aesthetic products, Nordlys and Stratapen are excellent products that are in growing sectors of the Aesthetic market. MRN’s mission is to offer our members best-in-class products from world class companies through pricing that can only be achieved by leveraging the buying power of our 3,000 member practices and medical spas.”

The relationship between MRN and STRATA with special pricing to MRN members is being fully launched to the membership this week.

About STRATA Skin Sciences, Inc.

(www.strataskinsciences.com)

STRATA Skin Sciences is a medical technology company in Dermatology and Plastic Surgery dedicated to developing, commercializing and marketing innovative products for the treatment of dermatologic conditions.  Its products include the XTRAC® laser and VTRAC® excimer lamp systems utilized in the treatment of psoriasis, vitiligo and various other skin conditions; the STRATAPEN™ MicroSystem, marketed specifically for the intended use of micropigmentation; and Nordlys, a multi-technology aesthetic laser device.

About MedResults Network

(www.medresultsnetwork.com)

MedResults Network is a free membership service that offers instant discounts and quarterly rebates at no risk or obligation. They have partnered with over 50 leading national vendors to negotiate cost savings for its members in product categories including fillers, lasers, skin care, and more. Since 2008 their leadership team worked closely with both their members and partners to ensure their continued growth and success.

Safe Harbor

This press release includes “forward-looking statements” within the meaning of the Securities Litigation Reform Act of 1995. These statements include but are not limited to the Company’s plans, objectives, expectations and intentions and may contain words such as “will,” “may,” “seeks,” and “expects,” that suggest future events or trends. These statements, including the Company’s ability to sell products to MRN members,  generate the anticipated revenue stream, the Company’s ability to generate sufficient cash flow to fund the Company’s ongoing operations beginning at any time in the future, the Company’s ability to license or acquire new products, the public’s reaction the Company’s new advertisements and marketing campaign, access to capital markets, and the Company’s ability to build a leading franchise in dermatology and aesthetics, are based on the Company’s current expectations and are inherently subject to significant uncertainties and changes in circumstances. Actual results may differ materially from the Company’s expectations due to financial, economic, business, competitive, market, regulatory and political factors or conditions affecting the Company and the medical device industry in general, as well as more specific risks and uncertainties set forth in the Company’s SEC reports on Forms 10-Q and 10-K. Given such uncertainties, any or all of these forward-looking statements may prove to be incorrect or unreliable. The Company assumes no duty to update its forward-looking statements and urges investors to carefully review its SEC disclosures available at www.sec.gov and www.strataskinsciences.com.

 

Investor Contacts:

Christina L. Allgeier, Chief Financial Officer   Bob Yedid, Managing Director
STRATA Skin Sciences, Inc.   LifeSci Advisors, LLC
215-619-3267   646-597-6989
callgeier@strataskin.com   Bob@LifeSciAdvisors.com
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MedResults Partners with Small Business Lender, Kabbage

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MedResults members can now easily apply for and access a Kabbage line of credit up to $150,000 to manage their businesses.

This week, MedResults Network formed a new partnership with Kabbage, a nationwide leader in small business funding. Through the new relationship with Kabbage, our 3,000 aesthetic members now have a radically uncomplicated way to access working capital to support, grow and protect their businesses.

After more than nine years of serving aesthetic providers nationwide, we discovered that one of the primary barriers to growth within the industry was the lack of resources and overall capital available to smaller aesthetic practices. As we’re in the business of saving our members time and money, finding a partner who could provide our members fast and simple access to additional capital became critical. Now, through the Kabbage partnership, MedResults members can work smarter to financially support and grow all aspects of their business.

So, why Kabbage?

When we started doing our homework to find the best funding solution for our members, their feedback indicated that most traditional sources of capital presented many problems, including a tedious application process, only took credit scores into account, limited the use of funds, and had inflexible payment terms. After months of due-diligence, we chose Kabbage because they excelled where traditional financing companies could not. 

So, what’s the benefit to members?

  • Members apply online. Members can complete the application in minutes and know right away how much funding they can access.
  • No obligation. It’s free for members to apply, and there’s no cost until they use their funds.
  • Flexible funds. Kabbage offers ongoing lines of credit up to $150,000. Members withdraw the increment they need, when they need it, without reapplying.
  • Trusted and secure. Kabbage has provided over $5 billion in funding to 165,000+ small businesses. Kabbage is A+ rated by the Better Business Bureau and certified for customer privacy.

For more information about Kabbage or to apply today, visit www.kabbage.com/mrn.

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5 SIMPLE Ways to Save Through Your Membership in MedResults

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The world of GPOs is complex. The dirty little secret in the GPOWorld is that most providers don’t know what they are and those that do, generally don’t know how to use one to their advantage.

We get asked weekly, “What is a GPO and how could it affect me?”

Our answer is simple, “Group Purchasing Organizations (GPOs) use the BUYING POWER of thousands to negotiate for better pricing for their members. This equals instant savings for anyone who joins the GPO.”

It’s not a secret that many of our members don’t fully understand the benefit of belonging to a buying group like ours. We’re here to tell you, that’s okay!

Every medical provider joins a GPO for savings. So how do you maximize your participation in a GPO and more specifically, how do you leverage the buying power of The MedResults Network?

Quick and Easy! Here are the 5 QUICKEST and EASIEST ways to start saving through our network. You’ll notice that you may save only few hundred dollars from some of our contracts, but other contracts could add tens of thousands of dollars to your bottom line.

1) Office Medical/Surgical Supplies: Opt-Into our partner GPO HealthTrust / PurchaseClinic for an instant connection to savings on your office medical/surgical supplies. No matter what distributor you use, they can provide instant savings on many of the supplies you use daily.

      *Opt-in for medical/surgical savings HERE: www.purchaseclinic.com/MRN

2) Onsite Operating Room Medical/Surgical Supplies: Have an onsite Operating Room? Give us a Usage Report on your OR medical/surgical expenses. We are showing 20% to 30% savings on what is typically around a $150K annual spend, which is the equivalent to $30K to $50K savings. There are only two steps to save thousands on your surgical supplies.

      *Opt-in for medical/surgical savings HERE: www.purchaseclinic.com/MRN

      *Send your OR supply annual USAGE REPORT to info@medresultsnetwork.com.

3) Business Office Supplies: Activate our Staples Business Advantage Premier Account. Members will save on all supplies, printing and copying, breakroom, and business supplies. Through our PREMIER account partnership, you’ll also have access to ancillary savings like rental cars. The average annual office supply spend is $6K per year and our members receive an average of 10% to 20% savings, equivalent to $600 to $1,200 per year!

      *Activate your account HERE: http://www.medresultsnetwork.com/activate-your-staples-business-advantage-account

4) Medical Mal Practice Insurance: Give us your Med Mal insurance policy for a policy review. Members have access to our Medical Mal Practice Insurance Program with additional benefits like risk management resources, free CME courses, aggressive claims handling, and much more!

      *Get a free quote HERE: https://www.norcal-group.com/mrn

5) Med Spa Supplies: If you are a Med Spa, sign up to our Universal contract for med spa supplies. Already using Universal Companies? Contact us to ENSURE you’re getting your savings. Members get an up-front discount of 10% off of supply purchases and have access to even greater savings on equipment.

      *Contact us here to confirm your savings: info@medresultsnetwork.com

Savings should be simple. Take one of the actions above and we promise you’ll be on your way to Maximizing your Membership in MedResults!

For more information about other ways you can take advantage of your membership in MedResults Network or to join, contact us today at info@medresultsnetwork.com!

By: Jamie Parrott, MBA, Vice President and Chief Operating Officer of MedResults Network

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10 Reasons Why You Should Join a Buying Group

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It’s no secret that my wallet is slightly bulging at the seams from loyalty cards of the shops I frequently visit.  Between the café down the street to the frozen yogurt store by my home, one might say I’ve become a habitual ‘loyalty’ junkie in my local community.  Based on my own buying behavior and the behavior of others I witness at my local retail establishments, it’s easy to see how loyalty programs, if designed properly, can significantly drive sales.  One of my favorite ‘masters’ of the loyalty program is Costco.  If there’s a Costco in your community (which I’d imagine there probably is), then you know exactly what I’m referring to.

Costco charges a nominal annual fee for access to substantial discounts on thousands of products and services. Based on their immense volume buying power, they’re able to provide their members with the best pricing on nearly EVERYTHING in every product and service category.  The best part about their program is that regardless of how frequently you take advantage of their savings, you STILL have access as long as you have a membership. Furthermore, at higher membership tiers, you can earn additional savings and rebates on all your purchases. 

So the question is, why wouldn’t you belong to Costco?

I’ll tell you why.

Because there’s a fee to belong. Some consumers are of the mindset that if you’re not going to buy enough from Costco to offset your $49 annual membership fee, then it doesn’t make sense to belong. This is totally rational.

But consider this…

What if there wasn’t a fee and you could access Costco at NO COST? 

Would you join?

I’m sure you all know where I’m going with this analogy as it’s probably the SAME reason you may have chosen to join MedResults…. nine years ago, six months ago, or last week.  Let me refresh your memory with 10 good reasons WHY EVERY Aesthetic medical provider should belong to a buying group or Group Purchasing Organization (GPO).

  1. COST-SAVINGS: This is the simplest reason that medical providers join a buying group. By definition, a buying group or GPO is the coming together of similar independent businesses to leverage their combined purchasing power to receive improved financial benefits and payment terms on the products they buy. Everyone who joins can receive a financial benefit.
  2. SPECIAL ACCESS: Many buying groups negotiate for special access to training, education, and additional benefits that may not provide immediate cost-savings, but DO provide immense value.
  3. EDUCATION: This is not typical of all purchasing organizations, but at MRN and a few other medical GPOs, you may receive free education that will allow you to improve your business and/or purchasing at no cost.
  4. NETWORKING: Some GPOs have portals for direct interaction with other customers. While this is not typical, MRN and other organizations play host to national conferences and other events where members & attendees can share ideas, best practices and business outcomes.
  5. NO OBLIGATION: One of the best things about Costco is that you are not obligated to purchase. You may choose to use your membership throughout the year, but if you don’t, there’s no real penalty (except for the annual fee you may have paid).  If you DO use your membership, you’re guaranteed to save.
  6. ‘THE THREE B’S’: BIG BUSINESS BIAS. If you have only a few providers at your practice or you’re a solo-practitioner, you may have experienced the ‘3B’s’. Many manufacturers spend most their time with high-volume practices and give less support to low-volume providers. Buying groups provide purchasing incentives and support to small-to-mid-sized practices who would have otherwise gone unnoticed!
  7. SERVICE: A buying group SHOULD always be available to help you with your purchasing, billing, service, or just about anything you can think of that would assist your buying decision-making process. At MRN, we’ve taken this one step further: We’ve helped members hire new staff, performed in-office consultations, found new Medical Directors, sourced new products from vendors we don’t work with, and so much more. Your buying group should be an extension of your business arm!
  8. REP RELATIONSHIPS: We frequently get GREAT feedback from our members about their industry reps and why they love working with a vendor or manufacturer.  This is great news if you belong to a GPO or a buying group as you’ll continue to work directly with all your reps…you’ll just receive additional benefits for your loyalty to that partner!
  9. TIME & ‘HEAVY LIFTING’: How much time does your Office Manager or Clinician spend trying to source the right products and services for your practice? Buying groups are designed to do the heavy lifting for you! At MRN, we’ve spent thousands of hours searching the market for innovative products. We’ve also vetted our vendors and negotiated the contracts to take the guesswork out of purchasing for you.  Example: it took us almost a year to get the best med/surg and vaginal rejuvenation contracts!
  10. YOU DON’T PAY A DIME TO PARTICIPATE: Medical GPOs and buying networks typically DO NOT charge a fee for access to their benefits. What’s better than the freedom to save freely???

You joined this buying network for some of the same reasons that consumers across America join loyalty programs and buying clubs for their daily purchases.  Now use it and watch your savings grow!  

For more information about other ways you can take advantage of your membership in MedResults Network or to join, contact us today at info@medresultsnetwork.com!

By: Jamie Parrott, MBA, Vice President and Chief Operating Officer of MedResults Network

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3 Ways You’re Helping Your Competitors Get Ahead

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“We can’t compete with the practice down street!”

Ever heard or thought that phrase?  It’s something we’ve heard many times from our 2,800 aesthetic medical members.  Just like any other business, we’re all concerned about our competitors and new entrants to this space.

There are many ways that aesthetic practices can easily differentiate themselves. Some invest in their unique brand or position themselves as ‘experts’ in a particular treatment or procedure.  Others become first-movers with new technology and place a foothold in the market for new treatments.  A few even have the capital to make large investments in marketing, becoming well-recognized with billboards, television, radio and social media. 

However, not all of us have the resources to make these kinds of investments in our brand, equipment, and marketing.  In contrast to the providers above, we’ve seen many smaller businesses take other measures to ‘compete,’ which, although seemingly strategic at the time, have been detrimental to their businesses.  You may not be the biggest, most recognizable practice on the block, but you can take steps to ensure that your actions are to your benefit, not your neighbors’.  Here are three ways your actions could be helping your competitors get ahead:

Getting into price wars.

Take Botox for instance.  The price of Botox varies significantly between different types of practices, different regions, and different providers. If your margin on Botox is already slim and your neighbor discounts to a point where the treatment becomes a loss-leader, I wouldn’t consider trying to match their price, unless you are confident that you can provide additional services that you can easily cross-sell.  Focus your efforts on another aspect of your business that will draw patients in—this could be your stellar service, your provider’s excellent credentials, and or your amazing patient outcomes.  Instead of reducing your price, put more emphasis into sharing your successes and marketing your reputation through before and after photos, testimonials, positive patient experiences, and ratings & reviews.  Worried that your pricing will deter prospective patients?  Price transparency, specifically online, also guarantees that the patients coming to you will generally be less sensitive to price when they call you for a consultation.  The same goes for using Groupon.  I know a few practices who’ve been successful with Groupon, but I’d advise that you use caution if you’re going down this path. Without the right support and follow-up system in place, Groupon patients could easily disappear after they’ve redeemed their discounted treatment.  It is widely known that Groupon requires that you discount your product or service by up to 50% and expect fees of 20%-60% of your revenue.  In most cases, this may drive one-time, bargain-shoppers into your office at a MAJOR expense to you.  Don’t reduce your margin so significantly for so little return!  Your loss is their gain.

Not knowing your numbers.

When you do a marketing campaign, do you understand your ROI?  In our recent 2017 annual survey, 91% of our participants stated that word of mouth was a major source of patient acquisition.  However, 49% said that they still used traditional mediums such as radio, TV, and direct mail.  For every campaign, do you understand your cost vs. your anticipated and/or actual results?  How are you tracking consults and conversions (or are you)?  Each of these questions are critical to understanding where your marketing dollars are most effective.  Within our network, we’ve discovered that very little marketing spend is well thought out or lacks strategy backed by forecasted numbers, therefore a large amount of money is wasted on ineffective initiatives and those that produce zero ROI.  Keep a constant pulse on your marketing projects and associated numbers.  Educated marketing decisions can save you thousands and make you millions AND position you for maximum success!

Not knowing your numbers.

Yes, I did just repeat myself.  However, this is about your operating expenses and overall financial picture.  When you designed your business plan, you should have done several proformas or projections on your profitability.  In addition to your marketing dollars spent (see above), you should clearly understand your operational expenses (personnel, cost of goods, etc.). When someone comes in for a laser treatment, you should know exactly how much it costs you to operate that machine (consider consumable costs per patient) and perform that treatment (cost of personnel) and the revenue you’ll produce from that treatment.  Knowing these numbers will not only help you to avoid waste, but will also help you to identify your highest revenue and profit-producing treatments and services so you can focus your marketing dollars (see above) correctly!  Not knowing your numbers can quickly drain your bank account, giving you less flexibility to invest in new marketing, technologies and ways to differentiate yourself which essentially, is a bonus to your competitors!

Looking for help with your numbers?  MedResults Network is partnered with consultants who will review your financials and help you become more effective and efficient in the day to day operations of your business. Contact us at info@medresultsnetwork.com.

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A Few “More” Good Trends

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GREAT Points From “A Few Good Trends”

Last week American Spa published an article entitled “A Few Good Trends”, written in the form of a list of ‘predictions’ from a reputable plastic surgeon. This article captured the attention of MedResults Network as we’ve been working to initiate and advance all four of these trends within our network!  While we rarely re-post an article to our news feed, we think Dr. Julius Few hit the nail on the head (so to speak) when he lists his industry trends below.

As we constantly talk to members about what they want, what they provide and their thoughts on what works best, we’ve also included some commentary where we make recommendations on how you can incorporate these trends into your practices today (and in the near future) using the power of the network…

A Few Good Trends

In the medical spa industry, many deemed 2016 the year of the “selfie surgery,” but there’s much more in store for 2017. Here’s what Julius Few, M.D., plastic surgeon and founder of The Few Institute (Chicago), predicts will be the most in-demand beauty treatments of 2017.

Cold + Heat = Killer Body Combo When diet and exercise aren’t enough…. women love the body slimming results they get from CoolSculpting and Venus Freeze, which painlessly freeze fat and remove unwanted bulges from the arms, legs, tummy, flanks and bra area. In a recent study, Dr. Few found that freezing the unwanted fat, then heating up the skin with radiofrequency technology leads to less fat without loose skin.

What MedResults says…Enhance your outcomes. Many MedResults members have reached out to us explaining the benefits of using Coolsculpting (or the Cool Mini) to reduce fat around the submental area, followed by an Ultherapy treatment to tighten the skin. Learn more about the MRN benefit on Ultherapy here.

Non-Surgical Facelift Aging backwards (without surgery) just became a reality. Silhouette InstaLift is an effective non-invasive technology that completely redefines the face in just 30 minutes, restoring volume and reducing wrinkles with no downtime. Few was first in the Midwest to offer it and is celebrated globally for training other doctors.

What MedResults says…Dr. Few is onto something!  Look at the numbers from ASAPS’ 2015 Statistics. Over the last five years, surgical procedures increased by 17% while non-surgical procedures increased by 44%. Give your patients options for non-invasive treatments!

Combination Treatments Patients can now tackle wrinkles, volume loss and sagging in one visit. By “stacking” (or layering) innovative peels, injectables, laser treatments, ultrasound technology, and advanced skincare, this multiple treatment therapy can be delivered in one sitting to generate an optimal outcome with minimal recovery time.

What MedResults says…Patients coming in for procedures or injectable treatments should never go home without retail products to improve and prolong their desired results. After every procedure, suggest a monthly treatment plan that includes regular follow up (like PCA peels) & take-home products and/or devices.  Create your patient’s “at home aesthetic wellness program” with these products and devices.  Learn more about the MRN benefit on PCA SKIN, Stemology Skincare, and LightStim.

New Fillers on the Horizon Restylane, Refyneand, Restylane, and Defyne were recently FDA-approved for the treatment of laugh lines. These next-generation dermal fillers are designed to help smooth smile (or marionette) lines with a natural result.

What MedResults says…#TRUTH. Already we’ve heard announcements of fillers and toxins coming into the market in 2018 and beyond.  However, there are several new entrants that will be on the market as early as this summer.  Industry giants continue to invest in R-&-D to expand their existing portfolios and range of treatments while international players begin building their American presence. Keep your eyes and ears open for new FDA approvals…you can be sure that we’ll be ‘sharing’ these newsworthy announcements!

Original article by Jennifer Nied can be accessed here.

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5 Things That Make or Break a Brand

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Although traditional medical providers don’t want to believe it, along with their medical practice, THEY themselves have a unique brand.  Perhaps this doesn’t apply to many of the savvy aesthetic medical providers in our industry who’ve already chosen to take advantage of that concept and build astounding brands and reputations based on specific treatments, ostentatious ‘personas’ or expert marketing.  However, as the majority of business people and patients, like myself, can attest, a physician or medical spa’s perceived brand or lack thereof can be the deciding factor as to whether we choose them for an aesthetic treatment.

If every aesthetic practice has a ‘brand’ and every brand has a perceived promise, what is your ‘promise’ to your patients? 

As an aesthetic provider, what does your “promise” convey to your patients and prospective patients? What about your promise of your expertise or experience?  Do you promise high-quality service and luxury?  Or do you promise easy booking, great prices, fast service?  Each of these “promises” communicates a very UNIQUE brand to your prospective customers.

Assuming you want to maintain your brand, your reputation, and the positive opinions of your patients, it’s critical to consider all of the things that can keep you teetering on the brink of success or distress!

Appearance Matters.

Have you ever walked into a restaurant where the floors were dirty, the tables were unclean, and nobody seemed to do anything about it?  If so, did it make you want to eat at that restaurant again?  I think we know the answer to that riddle…Absolutely NOT!  An aesthetic medical practice is similar in that your appearance (i.e. the condition of your practice, the reception or waiting area, and the overall aesthetics) matters to existing and prospective patients. While it’s not necessary to have a professional design team re-do your office space, it is important to remember that your patients visit you to enhance their appearances.  If you can’t maintain your own…and this includes your practice AND office staff, you’ll slowly drive patients away.

Service. Service. Service.

This is NOT a new concept.  A little customer service goes a long way.  Treat your patients like they’re unique…they’re special to you and your business.  If they have a question that you can’t answer, find the answer and get back to them.  If they have an anniversary as a patient (or are perhaps celebrating one), acknowledge it. Go out of your way to provide exactly what your customers want and what they don’t KNOW they want, but will eventually need.  This is the key to gaining lifetime loyalty.

Quality Over Quantity.

Customer service is one thing, but quality service is entirely different. If you want to be known as the best, the quality of your work MUST be the best (or at least pretty incredible).  You won’t do this by cutting corners.  I’ve met dozens of aesthetic business owners who think it’s okay to use injectables that aren’t ‘fresh’ and a few who’ve diluted their product to save margins.  I’ve also met some who’ve skipped important aspects of a patient consultation (like setting up expectations and discussing post-treatment protocols) to increase the quantity of patients they could see that day.  This type of quality of service is doing a disservice to the patient and the practice, and it screams poor quality! 

Expecting Patients to Have the Right Expectations

Before you became a medical provider or entered the aesthetic medical business, did you know what to expect from every treatment or procedure?  Probably not. This type of information comes from an advanced education and years of experience.  Manage a patient’s expectations so that you can ensure they’ll feel satisfied with the results of a treatment.  Sometimes the best you can do for you brand and a patient is to say ‘No’ to a patient who expects a result that is unrealistic.  Not only will you avoid creating and unhappy patient, but statistically speaking, you’ll avoid the loss of 30 others who are reading their bad reviews online!

Staff: Hire for Personality, Train for Skills!

It takes only seven seconds for us to judge another person when we first meet them.  Your employees are no exception. They can MAKE or BREAK your brand.  Their appearance (#1 on my list), the customer service and quality of service they provide (#2 & #3), and their ability to provide realistic expectations to patients (#4) are all included in your patients’ experience and perception of your business. If your newest employee rarely smiles, rushes through treatments, and never engages with patients, do you think you’d want someone to judge YOU based on their impression of that employee?  Treat your staff as an extension of you, your business, and your brand…and choose wisely! 

Jamie Parrott, Vice President & Chief Operating Officer of MedResults Network

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5 Pitfalls To Avoid When Purchasing A Device!

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Contributed by MedResults Network partner, Jay Shorr of The Best Medical Business Solutions

I’ve seen it over and over again: I arrive onsite for a practice’s site visit evaluation and inevitably, there’s a once-loved device sitting in a closet.  Maybe the laser is alone, both unused and unloved, but often, it may have a friend of two with it.

My business partner and I refer to this as the Laser Graveyard, and it’s all too common.

Before you splurge on your next piece of equipment, I suggest that you do two things:

1: Read on for a few tips of what to look for before writing the check.  Note this is by no means an all-inclusive list, but just a start.

2: Listen to Thursday’s webinar on November 3, “How to Select Your Next Laser Device.”

Pitfall #1: Evaluate WHY you’re looking to purchase the piece of equipment, and what makes that piece of equipment right for your practice.  Think about who is going to be treating your patients, how much time the piece of equipment takes for each treatment, and if you already have the patient base to cross market and cross sell.  Is an aesthetician able to utilize the laser in your state, for example, or do you need to hire a mid-level practitioner?  Have your patients been requesting a new treatment?  Is it replacing an older device or filling a gap in your practice?

Pitfall #2: Not creating a proper marketing plan for your new piece of equipment.  This isn’t the Field of Dreams, and you’re not Kevin Costner.  If you build it, they may NOT come.  Before making the splurge, thing about how you’ll market to your patients internally, through social media, e-blasts, postcards, print advertising, special events and more.  Do you have a team made up of selling machines, or is your staff afraid of introducing patients to new technology?   Know how you’ll set yourself up for success.

Pitfall #3: Not doing your research ahead of time.  Check with other colleagues who have used the device to learn of their successes and opportunities for improvement.  Check out your local competition to see about market saturation.  Find out which complications occur over and over again, and which complaints or compliments patients in other markets have about the device.

Pitfall #4: Read the fine print in the contract.  Make sure you review the contract, in detail, and consider presenting it to a professional as well.  We review contracts for our clients on a regular basis to see what’s being left on the table.  For example, did the contract include the MedResults Network membership discount or rebate that you receive as being a part of the organization, or was it mysteriously left out when the deal was put into writing?

Pitfall #5: Falling in love with the vendor/sales rep/piece of equipment.  At the end of the day, the contract has to be something that will work for you.  A new piece of equipment can be an incredible moneymaker and investment, but not knowing the items discussed above can start building… you guessed it… your laser graveyard.

Jay A. Shorr BA, MBM-C, CAC I-X is the founder and managing partner of The Best Medical Business Solutions, a medical practice consulting firm assisting cosmetic and aesthetic medical practices with the operational, financial and administrative health of their business. He is also a professional motivational speaker, an advisor to the Certified Aesthetic Consultant program and a certified medical business manager from Florida Atlantic University. He can be reached at info@thebestmbs.com

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A New (Virtual) Front Door for Your Practice

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Online Reputation Management:

Attract new patients and position your practice for success

In today’s complex economy, your patients work, shop, socialize, and connect digitally— living online as much as they do in the “real world.” But amid all the transformation, one thing hasn’t changed: the importance of first impressions. To attract new patients, you must make each first encounter count.

Not long ago, patients would get their first impressions of your practice through advertising or “curb appeal”—the image you projected for the world to see. Today, however, a prospective patient’s first encounter with your practice is overwhelmingly likely to happen online. So what replaces that moment when a patient decides to step through your front door?

The new front door

It might surprise you just how much potential patients depend on online reviews— 92% say they read online reviews before selecting a practice. And they take what those reviews say seriously: 80% say they trust reviews as much as they would the recommendation of a friend or family member.

In short, happy patients are a practice’s best publicity—they write the reviews that serve as first impressions and help convince prospective customers to make appointments.

A shift in discovery: The power of online reviews
To help your practice thrive, you have to make it easy for patients to post reviews—and just as easy for prospective patients to walk through that virtual front door. You’ll want to choose tools that automatically post reviews to your website and social media pages, helping you boost visibility and grow your patient base. To inspire prospective customers to take action, offer 24/7 online scheduling wherever those reviews appear. You’ll end up with an attractive, informative, and consistent online presence—an open door that invites patients to come in and engage with all you have to offer.

Learn more about how Demandforce can help you attract and engage patients, build and manage your online reputation, and save time…And, don’t forget to see a demo of Demandforce to receive your free resource!

*Contributed by Demandforce, one of MedResults preferred marketing and communications partners!

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Stemology Becomes Official Partner of MedResults Network (MRN) After Successful Test Period

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FOR IMMEDIATE RELEASE

LOS ANGELES, CA – MedResults Network (MRN) announces official partnership with Stemology, the world’s first and only anti-aging skincare brand dedicated to providing all-natural, intelligently organic formulations through the emerging science of adult and plan stem cell technologies. The largest national buying group for aesthetic providers is officially launching the Stemology brand on the heels of successful testing and surpassed sales expectations.

“Adding Stemology to our brand portfolio is extremely exciting as our members are always looking for the latest and best technology in the skin industry,” explains MRN CEO Jeff Routledge. “The brand fuses science and natural, organic formulations, something that’s highly sought-after by professionals in the industry, and consumers alike. Now, MRN Members can have the best of both worlds by offering Stemology products at our exclusive Members – only price.”

“We are so pleased with the success of the brand’s trial with MRN,” adds Stemology Chief Marketing Officer Lori Jacobus. “MRN is the ideal partner and channel for Stemology, targeting more than 2,600 aesthetic medical practices and med spas throughout the U.S., and in turn, their patients and clients. This group really understands the need and demand for quality, efficacy, and eco-aware products that can also serve the growing number of skincare enthusiasts looking for natural formulas backed by clinical science. We are building up sales efforts and look forward to partnering with more MRN accounts in the coming months.”

Stemology products, including bestselling Cell Revive Serum Complete, formulated to address all 12 signs of facial aging – including fine lines and wrinkles, skin elasticity, tightness, tone, and more – are now available to MRN partners.

For more information about MRN and Stemology, visit www.medresultsnetwork.com or www.stemologyskincare.com.

ABOUT THE MEDRESULTS NETWORK

MedResults Network is the nation’s largest buying network for aesthetic medical providers and is based on saving its members time and money! Using the buying power of its 2,600 members, MRN has negotiated with over 50+ national vendors to bring aesthetic providers discounts and rebates on the products and services they use daily. MedResults Network is the only national buying group that offers benefits at no cost to members, with no risk, and with the opportunity for members to continue purchasing directly from their preferred manufacturers and distributors.

ABOUT STEMOLOGY

Stemology is dedicated to providing all-natural, intelligently organic skincare formulations through the emerging science of Stem Cells. Stemology is the first and only brand to bring together both human adult stem cell and plant stem cell technologies, along with a stem cell communicator that greatly enhances intercellular communication to maximize the benefit of stem cell “signaling” growth factors. Stemology products are ethically formulated and do not contain any actual stem cells or DNA. Stemology products are free of phthalates, parabens, GMOs and petrochemicals. Stemology is a cruelty-free company.

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