Medical spas are a relatively new business model that combines the benefits of a spa and a medical clinic. Aspiring entrepreneurs in this field can expect a profitable outcome if done the right way. A survey of around 1,000 medical spas offering similar treatments and products showed that despite the ubiquity of medspas, the legal landscape has not yet reached this hybrid business model. Medical spas offer traditional cosmetic services along with the application of newer medical devices intended for aesthetic use.
It may not be an easy industry to enter, but a well-run medical spa can provide a very profitable business. Similarly, medical device manufacturers who sell their technologies to medical centers engaged in the unauthorized practice of medicine may face tort liability. People visit a medical spa instead of a doctor because it's a more comfortable experience than getting treatment in a doctor's office. Whether you're looking for an EHR that automates your staff's activities or you're buying the next new medical device, do your research.
The potential risks to medspa owners and their device suppliers in the current situation are serious. Many medical spa owners don't consider their profit margins when they open their doors. Durocher recommends that the total compensation of a medspa compared to service dollars should not exceed 35 per cent, where the total payroll load of the spa would not exceed that percentage. Similarly, a “guiding” regulatory principle is that technologies and services that adversely affect living tissues are more likely to be considered medical treatment.
In medical spas, only medical professionals can own and operate them, while massage therapists and cosmetologists can manage traditional ones. To ensure success in this business venture, aspiring entrepreneurs must be aware of the legal landscape and regulations that must be strictly followed. They must also consider their profit margins when opening their doors and research any new technologies or services they plan to offer. With careful planning and research, medical spas can be a very profitable business.
