As a medical aesthetic treatment provider, technology is likely the cornerstone of your business. Medical aesthetic devices can be a significant investment, but falling behind due to a lack of proper planning or budgeting can lead to significant concerns regarding your clinic’s success moving forward. By remaining loyal to obsolete technology, you not only risk a loss in sales, but also dissatisfied patients who may end up seeking out services from your competitors, a decline in productivity, and potential additional costs in rush orders for replacements. All of this can be avoided with proper planning and an investment in the right technology for your business. Here, we offer our top tips for avoiding the catastrophes that may accompany obsolete technology.
Anticipating changing trends in medical aesthetics technology and adapting your services and technology accordingly is key to keeping abreast of your competition. The best way to stay up to date on medical aesthetic trends is to make researching new technologies a regular habit and keep in tune with the latest medical aesthetics news. Sign up for medical aesthetic journals and newsletters, and set a reminder in your calendar to check new medical aesthetic trends when professional associations or journals tend to release their annual reports.
Planning ahead can help save your clinic money and time, as you’ll know what is most in-demand when investing in new products and technology alongside a better understanding of what prospective patients are seeking out. It’s also best to ask sales representatives how long they expect a device to last before they might recommend an upgrade. Knowing this average life expectancy will allow you to budget and save for that upgrade when the time comes, while researching trends and technology will ensure you’re investing in a device that can help your business grow.
Patient satisfaction can be a key determinant when evaluating whether your technology may be becoming outdated. Among other benefits, encouraging patients to post detailed online reviews can be a great way to obtain honest feedback on factors regarding treatment comfort, length of treatments, or efficacy that could better help inform your next medical aesthetic device investment alongside ensuring patient satisfaction. It’s possible that patients may feel under pressure to respond quickly and positively during a follow-up appointment. While they might offer some helpful criticism, it may be easier for them to leave a more honest opinion online, so it’s important to consider that feedback as well as anything reported during a follow-up. Finally, because patient satisfaction and loyalty are key to your medical aesthetic clinic’s profits, investing your dollars in an area where patients see the greatest opportunity for improvement while considering where you may envision business growth is a strong strategy in avoiding obsolescence.
A core business strategy that may be extended beyond the medical aesthetics industry is to always consider business investments based on how they may contribute to a robust business strategy. Speaking to medical aesthetics technology in particular, consider investing in a device that may accommodate change and pivot with your business strategy without a loss in performance or capability. Multi-treatment platforms such as the Venus Versa™ can help your medical aesthetics clinic or MediSpa grow by offering the opportunity to add multiple treatments to your services menu via smaller investments in new applicators, rather than purchasing entirely new devices that simply take up more space in your office and your budget. While staff training and software updates may still be required, utilizing the same machine will make these steps much quicker. In other words, your clinic avoids ending up with obsolete technology by investing in a multi-treatment device that can easily scale alongside your business.
If financing, interest rates, or other budgeting concerns are keeping your clinic from ditching dated technology, consider an alternative payment plan that works for your aesthetics clinic. Some medical aesthetic device companies may offer a discount on a device if your clinic says yes to the investment during your initial meeting. While this may help to save some costs, if you’re unsure of the purchase, it’s best to avoid making such a quick decision and instead research medical aesthetic device companies that offer alternatives to a traditional financing plan, such as Venus Concept’s industry-first and only true subscription acquisition model that allows for an interest-free payment plan that’s easy to budget for with no hidden costs and predictable payments every month.
Likewise, a revenue sharing program, such as that available on new Venus Velocity™ devices currently across North America and Europe, offers another opportunity to upgrade your medical aesthetics technology with no upfront risk. Powered by Venus Connect™ smart technology, Venus Concept’s Advanced Connectivity Module (ACM) Revenue Share Program outfits qualified customers with its advanced Venus Velocity™ hair removal treatment device that simply charges your clinic a flat fee based on your monthly usage, offering a payment plan that truly scales with your business and budget. With these options available, budgeting should be no obstacle to updating technology before it becomes obsolete.
Finding the right medical aesthetics device is about more than technology, functionality, or even cost—though those aspects certainly sit at the forefront of your decision. The medical aesthetics device in which you opt to invest should also be backed by a company you’ve thoroughly researched and can trust. Start by exploring post-sale support. Not all medical device companies offer post-sale customer support programs, let alone one that prioritizes your business’ success. A medical aesthetics device that features the latest aesthetics technology is nothing if it breaks down or you fall behind in updating your machine and cannot access the customer support you need to get back up and running.
To ensure your new technology remains up-to-date and continues to perform to its optimal potential, look for a company that offers an extensive and comprehensive warranty on all of its devices, as well as outstanding customer support regarding maintenance and updates. Every moment your medical aesthetics device is out of order is lost income for your aesthetics clinic, so ensure you’re partnering with a company that understands the importance of getting your device up and running as soon as possible.
With Venus Concept, we provide our customers with the highest level of post-sale support and proactively seek out ways to help grow your business. Our unique business model provides customers with never-before-seen business features, like a true subscription model, unmatched marketing support, continuous clinical education, and practice enhancement programs, alongside cutting-edge technology and a comprehensive warranty with each device. Interested in learning more about how a Venus Concept partnership can help your clinic avoid obsolete technology and harness business success instead? Simply contact an expert today.