When should you purchase another device? When should you remove a treatment or replace it with something else? Is the clinic doing well, where can it improve?
The answer is: The Formula.
You can apply The Formula to your entire clinic or to individual treatments.
For example, you may have to treatments – HIFU and Laser Hair Removal. You are trying to work out where you can improve, or what the best way to grow your business is.
You apply The Formula.
Average Number of Treatments Per Day
Average Cost of Treatment
Working Days Per Week
For example, you average 4 HIFU treatments per day and charge an average of $500 per treatment. Your clinic is open 6 days a week.
4 x 500 x 6 = $12,000 per week.
Now, compare it to your laser hair removal treatment room.
You average 8 laser hair removal treatments per day, and charge an average of $110 per treatment. Again, you’re open 6 days a week.
8 x 110 x 6 = $5,280 per week.
Now you work out capacity. Running at maximum capacity (taking into account lunch breaks and cancellations) you can perform 7 HIFU treatments per day, or 8 laser hair removal treatments. This means that capacity is –
$21,000 per week for HIFU
$5,280 per week for laser hair removal
So, laser hair removal is already running at capacity. While there is a massive opportunity to make additional money through HIFU (as everyone knows), you’ve still got room to grow with your existing device. Once you reach 5 treatments per day consistently, it may be time to consider other options.
In the meantime, either upgrade your laser device to a faster machine or expand into another treatment room.
By using maths to grow your clinic, you can reduce stress and make sure your money is going to the right place, at the right time.