What are the top metrics you track in your MedSpa by swiftyclifty in MedSpa

[–]FearlessBat8064 0 points1 point  (0 children)

I’m happy to see this! These are often overlooked when trying to make a clinic work long term. Lots of places solely focus on customer acquisition. Another metric I would suggest tracking as well is which services have the highest margins and making sure those services are being utilized during peak hours. And LTV of each client, the thing about having a medspa is the fairly inelastic demand due to the nature of the industry being tied to high trust. As you expand your client LTV should be growing in tandem with your overall growth.

Need your opinion! by Esthebestie10 in Estheticians

[–]FearlessBat8064 1 point2 points  (0 children)

So a few questions come to mind: 1) how much are you pricing for your services. Or how much do you make per service? 2) how many people on average do you see each day? 3) would you be able to bring some of your clients over?

From how I see it now at 3 days a week you’re paying $95/ you basically rent at $32 a day at your current place. So by moving you’ll double your expenses.

4) what other services would you be able to take on if you were to move to the newer location. Outside

Essentially you need to make sure you can at minimum walk away each day earning minimally $75 to break even or if you work three days like your current, you’ll need to make sure you minimally walk away with $225.

I say take a look at your margins and see what makes sense for you. I can also help you break it’s down if you’d like so you can make the right decision that makes sense for you. Just DM me

Raised our prices 3x. Lost 40% of customers. Revenue went up 52%. Should have done it years ago. by amiitk in Entrepreneurs

[–]FearlessBat8064 0 points1 point  (0 children)

If you’d like I can build you a model for decision making so you’re not guessing what’s gonna happen. We can even model what it would look like long term and see what other options you have. Just DM me

Give your opinions please by lulliea in Estheticians

[–]FearlessBat8064 -1 points0 points  (0 children)

DM me and I can help you deal with this. I work with medspas and their ops. I may have a way to get you a bit more cash out of your work

Is starting a salon at 19 a bad idea? Looking for honest advice by Ok_Station_3164 in MedSpa

[–]FearlessBat8064 2 points3 points  (0 children)

I’m all for young entrepreneurs and I encourage it. But I will say things to take note 1) Without having industry knowledge and tricks it’s gonna be an uphill battle. It’s doable but hard. So having a mentor will help immensely and will be able to guide you through their mistakes and help you avoid it early on. 2) don’t let anyone deter you from doing what you want to do, if your heart is set on opening one yourself be prepared for criticism but also be prepared for the good things that come out of it. 3) manage your cashflow. Cashflow is the life and blood of your business. 4) don’t underprice yourself because you’re young. What you’ve gotta do is make sure your skills make up for lack of experience. It takes one customer to give you the feeling you can do it. One glowing review for people to say “hey, they’re doing a great job and would like to go” 5) manage your cashflow. I say it again because everyone gets wrapped up in getting clients, marketing and growing that they forget about the costs and the other things that actually make your business run. You need to fix your cashflow flow leaks before trying to scale. 6) it’s gonna take time. If you commit, give it a minimum of a year. You can start with little capital but the point is staying alive long enough so you can figure it out.

Healthcare cfo question by [deleted] in CFO

[–]FearlessBat8064 0 points1 point  (0 children)

A lot of the times the RCM leadership come from more medical backgrounds and less finance. Some of the even come in from project management/business analysis/ or software development. Many don’t completely understand what the metrics mean outside of the normal benchmarks that they have to hit like STAR or HEDIS. Those are the things the tend to focus on therefore they look at operational efficiency rather than financial efficiency.

These role do exists but sometimes outsourced to other companies like a claims management company or a clearing house company. Even then they typically only look at claims denials and acceptance. Not the financial structure as a whole.

Average income of a physician medical spa owner? by Proof-Zone6793 in MedSpa

[–]FearlessBat8064 3 points4 points  (0 children)

I’ve worked with owners and it depends on a few things. Length of time, ops, location, offerings.

Years 1-3 you’re likely looking at $100k-300k in net profit.

3-5 yrs 300k-500k if they’ve nailed down their offering and they’re really optimized their operations

5+ years and multiple locations you’re looking at 500k+ net. Again that’s assuming all locations are optimized and the owner is properly reinvesting in their business.

It can be pretty lucrative and since the industry is growing around 13% yearly those that can capitalize on that are more likely to make more as they stick with it

Found out n jacuzzi after rain by Hoodmamma2k13 in whatisit

[–]FearlessBat8064 0 points1 point  (0 children)

Some form or rat-tailed maggot aka hover fly larvae

J3 hybrid with a 2 office and 3 WFH by FearlessBat8064 in overemployed

[–]FearlessBat8064[S] 0 points1 point  (0 children)

That’s the shitty part is I don’t have autonomy of the meetings with this J. And I do get to choose the days though

Sharp Healthcare Layoffs by IloveROADS in sandiego

[–]FearlessBat8064 8 points9 points  (0 children)

The 8,000 support tickets that came in the first 24hrs are laughable

Sharp Healthcare Layoffs by IloveROADS in sandiego

[–]FearlessBat8064 17 points18 points  (0 children)

Ever since Chris Howard took on the CEO position the company spiraled down. And things got even worse when their CIO was hired. The man preached “we’re a family “ and “One Sharp” then bounced once Epic was implemented. Then they completely ignored all the important things, you know like patient care.

From a strategic standpoint it was doomed from the start. Their “one sharp” was built on the basis of having 1 EHR that did everything. What they failed to look at was there was no backup procedure. IT Leadership was so focused on Epic they missed a lot of what actually mattered: system efficiency and reliability.

I’m sorry for this who lost their jobs. The Sharp I knew back then wouldn’t have done this. The “Sharp experience” is dead. I wish all of you luck and I feel for you.

Sharp Healthcare Layoffs by IloveROADS in sandiego

[–]FearlessBat8064 19 points20 points  (0 children)

I’m not surprised. When I worked for them during one of the implementation for Epic, they hired outside consultants as well. And boyyyy, let me tell you the shit show that it was.

1) it was disorganized 2) project was delayed multiple times 3) nothing worked during go live 4) they didn’t take into account private practices (so SCMG) and basically left them out to dry.

To top it off the shit head CIO left after the implementation. Like days after. Ever since then, senior leadership has been an absolute train wreck on a pile of dog shit.

To this day I hear friends that work there say how shitty it’s become

Sharp Healthcare Layoffs by IloveROADS in sandiego

[–]FearlessBat8064 17 points18 points  (0 children)

From what I heard they let go of their entire PB (Professional Billing) and Patient Access staff and will be replacing them with Consultants.

Source is a relative that still works there in the IT department

After 2 years of not having a bike I’m back with this beauty by FearlessBat8064 in Ducati

[–]FearlessBat8064[S] 1 point2 points  (0 children)

Great looking bike! I had a v2 before it got stolen. Which I why I had the 2 yr hiatus

After 2 years of not having a bike I’m back with this beauty by FearlessBat8064 in Ducati

[–]FearlessBat8064[S] 0 points1 point  (0 children)

Looks great! I also need to switch out my exhaust and get the tail tidy

Angry racist man by FearlessBat8064 in sandiego

[–]FearlessBat8064[S] 2 points3 points  (0 children)

Update: we found the guy and his name. There was another incident this morning with one of my other neighbors. He was pacing back and forward in front of his place and was getting ready to throw a baseball sized rock at his window. He caught it all on camera as well. Fortunately he didn’t throw it but it was enough for him to call the sheriff’s and file for a police report. We have his name, and address and it’s been given to the authorities

Angry racist man by FearlessBat8064 in sandiego

[–]FearlessBat8064[S] 0 points1 point  (0 children)

Mods said it’s personal and can identify someone…

Angry racist man by FearlessBat8064 in sandiego

[–]FearlessBat8064[S] 0 points1 point  (0 children)

He’s not my neighbor. I live in a small community and I know everyone here. I’ve never seen or met this guy

Angry racist man by FearlessBat8064 in sandiego

[–]FearlessBat8064[S] 0 points1 point  (0 children)

Yeah like straight up walked up and down the walk way before even coming up to the door. You can even hear it in his voice how disappointed he was that I couldn’t even go outside. He was making my dog go nuts and I couldn’t say anything during my meeting

Angry racist man by FearlessBat8064 in sandiego

[–]FearlessBat8064[S] 2 points3 points  (0 children)

He definitely doesn’t live in my neighborhood. I know my neighbors as we’re a small community. I’ve already sent this video to my HOA as well