If you are on the fence about offering Botox services you should know that the investment is minimal and you can basically recover your money with the very first patient you treat. You may be putting it off because you don’t have that many patients asking for it yet. But you can make a profit from it even if you treat fewer than 3 patients per year. Here is a breakdown of the costs and how the service practically pays for itself.
In 2012, Americans spent nearly $11 billion on cosmetic procedures ranging from skin rejuvenation to treatment of spider veins. Botulinum toxin type A injections (Botox and Dysport) are the two most popular nonsurgical treatments.
Let’s do some math to see how this translates to money in your pocket. A 100 unit vial of botox sells for around $580. Your profit on each vial is $1000.
On average, physicians charge $300 to $600 for a Botox treatment at $10 to $15 per unit using roughly 30 to 50 units per session. It is slightly more in heavily competitive areas. Now, do you see how this could equal pretty big profits for your practice?
How do you determine if adding cosmetic procedures will financially benefit your practice? Ask yourself the following questions:
● How much demand is there for the procedure?
● Is someone else in the community providing the procedure?
● Can I perform the procedure better than the competition?
● How will it affect my current patients and staff?
● How will it affect my time?
In case you were wondering, in 2012 there were 3,257,913 botox treatments administered, 1,413,705 treatments with hyaluronic acid, and 883,893 laser hair removal treatments given. During this time, Botox was the most frequently used treatment and is still a popular choice today.
What about other services? If you were to start offering implants the course, equipment, and lab fees would run you between $25,000 to $50,000. That is your initial investment. How long would it take you to begin showing a profit? You will also need to increase your insurance. It would take years before you see any ROI.
How about laser hair removal? The equipment costs are between $5,000 and $10,000 for the unit by itself. How many treatments would it take to recover your costs for purchase? Is there enough demand for the service to make it worth the cost?
What about buying a Cerec machine? How many restorations would it take to make this profitable? You would be doing all the work yourself so you would be saving on lab fees. But you are also responsible for anything that goes wrong with the machine and your patient.
In comparison, the most profitable service you can offer in your practice is Botox therapy.
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