In the latest episode of the Great Friends Podcast, John Wheeler, CEO of Alpha Aesthetics Partners, welcomes back Christin Trujillo from Maven Financial Partners. Recorded live from the VCS tradeshow floor, this episode is packed with valuable insights for med spa owners looking to optimize their operations and drive sustained growth.

John and Christin start by emphasizing the importance of reactivating existing patients. Christin points out that reengaging patients who have already been in your practice is a cost-effective marketing strategy. These patients already have a relationship and rapport with the practice, making it easier to fill schedules and boost revenue. She highlights that simply reaching out and getting these patients back on the schedule can significantly impact a med spa’s bottom line.

A major focus of the discussion is the key financial metrics that med spa owners should monitor. John and Christin agree that revenue per hour is one of the most critical numbers to track. They explain that understanding how much revenue is generated per hour worked can provide a quick snapshot of a practice’s efficiency and profitability. Christin mentions that a decent revenue per hour for an injector is around $900, with great injectors generating between $1,400 and $2,000 per hour.

Rebooking rates also come under scrutiny. Christin suggests that a good rebooking rate is around 80%, which can be challenging but is essential for consistent revenue. She advises providers to be proactive in scheduling follow-up appointments and creating a sense of urgency for patients to return. This practice not only ensures a steady flow of business but also helps manage workloads and maintain revenue during traditionally slower months.

The conversation also touches on the importance of partnering with the right private equity group early on. John emphasizes that while getting in early is crucial, it’s even more important to choose the right group with a proven track record. Rushing into a partnership with the wrong group can lead to dissatisfaction and inefficiencies, ultimately affecting the practice’s success.

John and Christin delve into other essential topics like return on ad spend, gross profit margins, and the impact of efficient administrative practices on a med spa’s profitability. They discuss how a well-managed practice, with disciplined spending and effective marketing strategies, can achieve higher margins and sustained growth.

This episode is a must-listen for med spa owners and operators. It offers practical advice on financial management, patient reengagement, and strategic growth, providing a roadmap for achieving operational excellence and long-term success. Tune in to gain insights from industry experts and take your med spa to the next level.